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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
1 Months Ended 3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Mar. 31, 2024
Mar. 31, 2023
Operating activities        
Net loss for the period $ (232,997) $ (177,194) $ (962,449) $ (1,024,261)
Adjustments to reconcile net loss to net cash used in operating activities:        
Accretion 1,440 1,684 4,388 5,126
Depreciation 8,286 24,969
Share-based compensation [1] 19,509 10,502 85,266 28,636
Non-cash lease expenses 6,411 5,887
Changes in operating assets and liabilities        
Prepaid expenses and deferred costs 78,726 14,729 119,832 (95,668)
Other receivables (37,603) 31,000
Accounts payable (79,368) (281,937) 189,426 398,894
Accrued liabilities 37,764 (5,700) 40,702 226,222
Lease liabilities (6,250)
Net cash used in operating activities (197,832) (437,916) (467,229) (461,051)
Investing activities        
Purchase of equipment (1,900)
Net cash used in investing activities (1,900)
Financing activities        
Capital contributions from GoldMining 1,273 6,042 3,700 18,139
Advance from GoldMining 532,337 363,692
Net cash provided by financing activities 1,273 538,379 3,700 381,831
Net change in cash, cash equivalents and restricted cash (196,559) 100,463 (465,429) (79,220)
Cash, cash equivalents and restricted cash, beginning of period 11,488,208 54,508 11,291,649 154,971
Cash, cash equivalents and restricted cash, end of period 11,291,649 154,971 10,826,220 75,751
Supplemental disclosure of non-cash financing activities:        
Allocation of share-based compensation expenses from GoldMining $ 5,615 $ 9,882 $ 7,266 $ 26,755
[1] During the three months ended March 31, 2024, and 2023 and one month ended December 31, 2023, and 2022 share-based compensation and management fees, salaries and benefits include costs allocated from GoldMining (Note 14).