Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | ALMADEN MINERALS LTD |
Entity Central Index Key | 0001015647 |
Trading Symbol | aau |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Entity Emerging Growth Company | true |
Entity Common Stock, Shares Outstanding (in shares) | 111,726,719 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Shell Company | false |
Entity Ex Transition Period | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents (Note 11) | $ 5,080,580 | $ 16,334,534 |
Accounts receivable and prepaid expenses (Note 4) | 404,416 | 368,963 |
Total current assets | 5,484,996 | 16,703,497 |
Non-current assets: | ||
Deposit on mill equipment (Note 5) | 4,923,209 | |
Property, plant and equipment (Note 6) | 13,764,928 | 372,292 |
Exploration and evaluation assets (Note 7) | 54,678,470 | 44,804,198 |
Total non-current assets | 68,443,398 | 50,099,699 |
TOTAL ASSETS | 73,928,394 | 66,803,196 |
Current liabilities: | ||
Trade and other payables (Note 9 (b)) | 1,128,407 | 638,001 |
Non-current liabilities: | ||
Deferred income tax liability (Note 12) | 1,434,882 | 1,434,882 |
Total liabilities | 2,563,289 | 2,072,883 |
EQUITY | ||
Share capital (Note 8) | 127,022,366 | 118,054,463 |
Reserves (Note 8) | 16,706,832 | 15,528,276 |
Deficit | (72,364,093) | (68,852,426) |
Total equity | 71,365,105 | 64,730,313 |
TOTAL EQUITY AND LIABILITIES | $ 73,928,394 | $ 66,803,196 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Expenses | |||
Professional fees | $ 602,402 | $ 567,877 | $ 420,684 |
Salaries and benefits (Note 9(a)) | 1,858,788 | 1,480,745 | 1,381,060 |
Travel and promotion | 267,832 | 286,920 | 259,840 |
Depreciation (Note 6) | 28,277 | 28,274 | 27,039 |
Office and license (Note 9(b)) | 127,678 | 145,965 | 120,972 |
Rent (Note 9(b)) | 191,829 | 173,891 | 146,759 |
Stock exchange fees | 158,304 | 164,075 | 115,364 |
Insurance | 66,942 | 55,007 | 60,499 |
Transfer agent fees | 20,943 | 33,919 | 23,370 |
Directors’ fees (Note 9(a)) | 70,000 | 70,000 | 41,000 |
General exploration expenses | 1,467 | ||
Share-based payments (Note 8(d) and 9(a)) | 1,308,740 | 2,693,070 | 1,869,010 |
Total Expenses | 4,701,735 | 5,699,743 | 4,467,064 |
Other income (loss) | |||
Interest and other income (Note 9(b)) | 950,352 | 654,741 | 550,271 |
Loss on sale of property, plant and equipment (Note 6) | (1,760) | (3,985) | |
Foreign exchange gain (loss) | 239,716 | (184,533) | (102,726) |
Total other income (loss) | 1,190,068 | 468,448 | 443,560 |
Loss before income taxes | (3,511,667) | (5,231,295) | (4,023,504) |
Deferred income tax recovery (Note 12) | |||
Net loss for the year | (3,511,667) | (5,231,295) | (4,023,504) |
Total comprehensive loss for the year | $ (3,511,667) | $ (5,231,295) | $ (4,023,504) |
Basic and diluted net loss per share (Note 10) (in CAD per share) | $ (0.03) | $ (0.05) | $ (0.05) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||
Net loss for the year | $ (3,511,667) | $ (5,231,295) | $ (4,023,504) |
Items not affecting cash | |||
Depreciation | 28,277 | 28,274 | 27,039 |
Unrealized foreign exchange | 9,575 | ||
Loss on disposal of property, plant and equipment | 1,760 | 3,985 | |
Share-based payments | 1,308,740 | 2,693,070 | 1,869,010 |
Accounts receivable and prepaid expenses | (35,453) | 11,935 | 2,566 |
Trade and other payables | 290,182 | (178,511) | (209,807) |
Net cash used in operating activities | (1,919,921) | (2,674,767) | (2,321,136) |
Investing activities | |||
Deposits on mill equipment | (7,694,900) | (3,642,826) | (324,600) |
Property, plant and equipment – purchase | (802,804) | (305,074) | (22,538) |
Exploration and evaluation assets – costs | (9,674,048) | (8,860,153) | (5,177,485) |
Net cash used in investing activities | (18,171,752) | (12,808,053) | (5,524,623) |
Financing activities | |||
Issuance of shares, net of share issue costs | 8,838,441 | 19,115,418 | 4,091,646 |
Options exercised | 16,560 | 1,105,290 | 143,490 |
Share issuance cost on cashless exercise of options (Note 8(d)) | (17,282) | (203,232) | |
Warrants and finders’ warrants exercised | 2,029,872 | 7,157,851 | |
Net cash from financing activities | 8,837,719 | 22,047,348 | 11,392,987 |
Change in cash and cash equivalents | (11,253,954) | 6,564,528 | 3,547,228 |
Cash and cash equivalents, beginning of year | 16,334,534 | 9,770,006 | 6,222,778 |
Cash and cash equivalents, end of year | $ 5,080,580 | $ 16,334,534 | $ 9,770,006 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CAD ($) | Issued capital [member] | Reserve of share-based payments [member] | Warrants [member] | Total reserves [member] | Retained earnings [member] | Total |
Balance (in shares) at Dec. 31, 2015 | 78,062,984 | |||||
Balance at Dec. 31, 2015 | $ 83,757,687 | $ 11,323,063 | $ 499,574 | $ 11,822,637 | $ (59,597,627) | $ 35,982,697 |
Statement Line Items [Line Items] | ||||||
Share-based payments | 1,869,010 | 1,869,010 | 1,869,010 | |||
Private placements, net (in shares) | 3,229,082 | |||||
Private placements, net | $ 4,073,728 | 4,073,728 | ||||
Finders' warrants issued pursuant to private placement | 17,918 | 17,918 | 17,918 | |||
Shares issued for cash on exercise of finders’ warrants (in shares) | 35,200 | |||||
Shares issued for cash on exercise of finders’ warrants | $ 27,104 | 27,104 | ||||
Fair value of finders’ warrants transferred to share capital | $ 5,984 | (5,984) | (5,984) | |||
Shares issued for cash on exercise of warrants (in shares) | 4,592,667 | |||||
Shares issued for cash on exercise of warrants | $ 7,130,747 | 7,130,747 | ||||
Shares issued for cash on exercise of stock options (in shares) | 182,000 | |||||
Shares issued for cash on exercise of stock options | $ 143,490 | 143,490 | ||||
Fair value of cash stock options transferred to share capital | $ 43,180 | (43,180) | (43,180) | |||
Shares issued on cashless exercise of stock options (in shares) | 63,510 | |||||
Shares issued on cashless exercise of stock options | ||||||
Fair value of cashless stock options transferred to share capital | 108,300 | (108,300) | (108,300) | |||
Total comprehensive loss for the year | (4,023,504) | (4,023,504) | ||||
Balance (in shares) at Dec. 31, 2016 | 86,165,443 | |||||
Balance at Dec. 31, 2016 | $ 95,290,220 | 13,040,593 | 511,508 | 13,552,101 | (63,621,131) | 45,221,190 |
Statement Line Items [Line Items] | ||||||
Share-based payments | 2,693,070 | 2,693,070 | 2,693,070 | |||
Private placements, net (in shares) | 12,377,207 | |||||
Private placements, net | $ 18,934,727 | 18,934,727 | ||||
Finders' warrants issued pursuant to private placement | 180,691 | 180,691 | 180,691 | |||
Shares issued for cash on exercise of finders’ warrants (in shares) | 30,472 | |||||
Shares issued for cash on exercise of finders’ warrants | $ 43,205 | 43,205 | ||||
Fair value of finders’ warrants transferred to share capital | $ 12,797 | (12,797) | (12,797) | |||
Shares issued for cash on exercise of warrants (in shares) | 1,986,667 | |||||
Shares issued for cash on exercise of warrants | $ 1,986,667 | 1,986,667 | ||||
Shares issued for cash on exercise of stock options (in shares) | 1,107,000 | |||||
Shares issued for cash on exercise of stock options | $ 1,105,290 | 1,105,290 | ||||
Fair value of cash stock options transferred to share capital | $ 496,859 | (496,859) | (496,859) | |||
Shares issued on cashless exercise of stock options (in shares) | 532,836 | |||||
Shares issued on cashless exercise of stock options | ||||||
Fair value of cashless stock options transferred to share capital | 387,930 | (387,930) | (387,930) | |||
Total comprehensive loss for the year | (5,231,295) | (5,231,295) | ||||
Shares issuance cost on cashless exercise of options | $ (203,232) | (203,232) | ||||
Balance (in shares) at Dec. 31, 2017 | 102,199,625 | |||||
Balance at Dec. 31, 2017 | $ 118,054,463 | 14,848,874 | 679,402 | 15,528,276 | (68,852,426) | 64,730,313 |
Statement Line Items [Line Items] | ||||||
Share-based payments | 1,308,740 | 1,308,740 | 1,308,740 | |||
Private placements, net (in shares) | 9,440,000 | |||||
Private placements, net | $ 8,838,441 | 8,838,441 | ||||
Finders' warrants issued pursuant to private placement | (36,566) | 36,566 | 36,566 | |||
Fair value of finders’ warrants transferred to share capital | ||||||
Shares issued for cash on exercise of warrants (in shares) | 23,000 | |||||
Shares issued for cash on exercise of stock options | $ 16,560 | 16,560 | ||||
Fair value of cash stock options transferred to share capital | $ 6,670 | (6,670) | (6,670) | |||
Shares issued on cashless exercise of stock options (in shares) | 64,094 | |||||
Shares issued on cashless exercise of stock options | ||||||
Fair value of cashless stock options transferred to share capital | 160,080 | (160,080) | (160,080) | |||
Total comprehensive loss for the year | (3,511,667) | (3,511,667) | ||||
Shares issuance cost on cashless exercise of options | $ (17,282) | (17,282) | ||||
Balance (in shares) at Dec. 31, 2018 | 111,726,719 | |||||
Balance at Dec. 31, 2018 | $ 127,022,366 | $ 15,990,864 | $ 715,968 | $ 16,706,832 | $ (72,364,093) | $ 71,365,105 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of basis of consolidation [text block] | 1. Nature of operations Almaden Minerals Ltd. (the “Company” or “Almaden”) was formed by amalgamation under the laws of the Province of British Columbia, Canada on February 1, 2002. 1710 –1177 V6E 2L3. The Company is in the business of exploring and developing mineral projects and its principal asset is the Ixtaca precious metals project located on its Tuligtic claim in Mexico. The Company has not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of basis of preparation of financial statements [text block] | 2. Basis of presentation (a) Statement of Compliance with International Financial Reporting Standards (“IFRS”) These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). (b) Basis of preparation These consolidated financial statements have been prepared on a historical cost basis. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are effective as at December 31, 2018. Certain amounts in prior years have been reclassified to conform to the current period presentation. (c) Functional currency The functional and reporting currency of the Company and its subsidiaries is the Canadian dollar. (d) Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make judgements and estimates that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these judgements and estimates. The consolidated financial statements include judgements and estimates which, by their nature, are uncertain. The impacts of such judgements and estimates are pervasive throughout the consolidated financial statements, and may Significant assumptions about the future and other sources of judgements and estimates that management has made at the statement of financial position dates, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not Critical Judgments o The analysis of the functional currency for each entity of the Company determined by conducting an analysis of the consideration factors identified in IAS 21, no o The determination that the carrying amount of the Tuligtic Project will be recovered through use rather than sale (Notes 7 12 Estimates o The recoverability of accounts receivable which is included in the consolidated statements of financial position; o The estimated useful lives of property, plant and equipment which are included in the consolidated statements of financial position and the related depreciation included in profit or loss; o The recoverability of the value of the exploration and evaluation assets which is recorded in the consolidated statements of financial position (Note 3 o The Company uses the Black-Scholes option pricing model to determine the fair value of options and warrants in order to calculate share-based payments expense and the fair value of finders’ warrants and stock options. Certain inputs into the model are estimates that involve considerable judgment or could be affected by significant factors that are out of the Company’s control; o The provision for income taxes which is included in profit or loss and the composition of deferred income tax liability included in the consolidated statement of financial position and the evaluation of the recoverability of deferred tax assets based on an assessment of the Company’s ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions; o The assessment of indications of impairment of each exploration and evaluation asset and related determination of the net realizable value and write-down of those assets where applicable (Note 3 |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of significant accounting policies [text block] | 3. Significant accounting policies ( a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows: Jurisdiction Nature of operations Puebla Holdings Inc. Canada Holding company Minera Gorrion, S.A. de C.V. Mexico Exploration company Molinos de Puebla, S.A. de C.V. Mexico Holding company Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing these consolidated financial statements. (b) Foreign currencies Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction dates. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are not (c) Financial instruments The Company has initially adopted IFRS 9, Financial Instruments 9” January 1, 2018. not January 1, 2018, not IFRS 9 39, Financial Instruments: Recognition and Measurement 39” no 9. The details of the new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. (i) Classification and measurement of financial assets and liabilities IFRS 9 39 39 The adoption of IFRS 9 not 9 A financial asset is classified as measured at: amortized cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. The Company's financial assets consist primarily of cash and cash equivalents, and accounts receivable are classified at amortized cost. (ii) Impairment of financial assets An ‘expected credit loss’ (ECL) model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not The adoption of the ECL impairment model had no (d) Cash and cash equivalents Cash equivalents include money market instruments which are readily convertible into cash or have maturities at the date of purchase of less than ninety (e) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, and are depreciated annually on a declining-balance basis if available-for-use at the following rates: Automotive equipment 30% Furniture, fixtures and other 20% Computer hardware and software 30% Geological library 20% Field equipment 20% Mill equipment Straight line over mine life (11 years) (f) Exploration and evaluation assets The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and, accordingly, follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of mineral claims to which the Company has rights and crediting all proceeds received from farm-out arrangements or recovery of costs against the cost of the related claims. Acquisition costs include, but are not not The Company considers the following facts and circumstances in determining if it should test exploration and evaluation assets for impairment: (i) the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not (ii) substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned; (iii) exploration for and evaluation of mineral resources in the specific area have not (iv) sufficient data exists to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation assets is unlikely to be recovered in full from successful development or by sale. An impairment charge may not no not The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in profit or loss costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area of interest are first All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditure is not (g) Impairment of property, plant and equipment Property, plant and equipment are reviewed for impairment at least annually, or if there is any indication that the carrying amount may not not An asset’s recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount is reduced to the recoverable amount by way of recording an impairment charge to profit or loss. Where an impairment subsequently reverses, the carrying amount is increased to the revised estimate of recoverable amount but only to the extent that this does not no (h) Income taxes Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no (i) Share-based payments The Company’s stock option plan allows Company employees, directors, officers and consultants to acquire shares of the Company. The fair value of options granted is recognized as share-based payment expense with a corresponding increase in equity reserves. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee . Fair value is measured at grant date, and each tranche is recognized using the graded vesting method over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model, taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of stock options that are expected to vest. In situations where equity instruments are issued to consultants and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at the fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of goods or services received. (j) Share capital Proceeds from the exercise of stock options and warrants are recorded as share capital in the amount for which the option or warrant enabled the holder to purchase a share in the Company, in addition to the proportionate amount of reserves originally created at the issuance of the stock options or warrants. Share capital issued for non-monetary consideration is valued at the closing market price at the date of issuance. The proceeds from the issuance of units are allocated between common shares and common share purchase warrants based on the residual value method. Under this method, the proceeds are allocated to common shares based on the fair value of a common share at the announcement date of the unit offering and any residual remaining is allocated to common share purchase warrants. (k) Reclamation and closure cost obligations Decommissioning and restoration provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation and discount rates. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows discounted for the market discount rate. Over time the discounted liability is increased for the changes in the present value based on the current market discount rates and liability risks. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third When the Company enters into an option agreement on its exploration and evaluations assets, as part of the option agreement, responsibility for any reclamation and remediation becomes the responsibility of the optionee. (l) Net loss per share The Company presents the basic and diluted net loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net loss per share is determined by adjusting the net loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares (Note 10 (m) Application of new and revised accounting standards effective January 1, 2018 The following new accounting standards and amendments which the Company adopted and are effective for the Company's annual consolidated financial statements commencing January 1, 2018: Financial instruments IFRS 9 July 2014, 9 39. 9 9 January 1, 2018, not (n) Future accounting standards Certain pronouncements were issued by the IASB or IFRIC but are not December 31, 2018. not not The following are the accounting standards issued but not Leases IFRS 16 January 2016, 16, Leases 16" 17, Leases 16 16 January 1, 2019. The Company went through the process of reviewing contracts and identifying those that might be relevant under the new standard. Specific leases identified for further review included office leases and an equipment/service contract for a printer. Based on the assessment of the standard, the Company estimates that it will recognize as a lessee, the right-of-use lease assets and related liabilities for existing operating leases of approximately $400,000 |
Note 4 - Accounts Receivable an
Note 4 - Accounts Receivable and Prepaid Expenses | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of accounts receivable and prepaid expenses [text block] | 4. Accounts receivable and prepaid expenses Accounts receivable and prepaid expenses consist of the following: December 31, December 31, 2018 2017 Accounts receivable (Note 9(b)) $ 300,700 $ 243,971 Prepaid expenses 103,716 124,992 $ 404,416 $ 368,963 At December 31, 2018, $444,994 2017 $444,729 7 |
Note 5 - Deposit on Mill Equipm
Note 5 - Deposit on Mill Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [text block] | 5. Deposit on mill equipment On October 16, 2015, $6,500,000 407,997 $273,358 Deposit on mill equipment consisted of the following payments: $ $ USD CAD Balance, December 31, 2016 1,280,383 Additions: purchase price deposits 2,000,000 2,647,600 Additions: mobilization payments 767,500 995,226 Balance, December 31, 2017 4,923,209 Additions: purchase price deposits 3,750,000 4,876,500 Additions: mobilization payments 2,211,300 2,818,400 12,618,109 Transfer to property, plant and equipment (12,618,109 ) Balance, December 31, 2018 - Almaden has exercised the Option by making the final option payment on June 12, 2018 $3,750,000 $4,876,500 December 31, 2018, 6 A mobilization plan is in progress to move the Rock Creek mill from Nome, Alaska to the Tuligtic property. Mill mobilization payments of $2,211,300 $2,818,400 December 31, 2018 |
Note 6 - Property, Plant and Eq
Note 6 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of property, plant and equipment [text block] | 6. Property, plant and equipment Automotive Furniture and fixtures and other Computer hardware Computer software Geological library Field equipment Mill Total $ $ $ $ $ $ $ $ Cost December 31, 2017 110,040 154,093 247,199 189,563 51,760 245,647 265,997 1,264,299 Additions - 4,126 1,697 7,204 - - 789,777 802,804 Transfer from deposit on mill equipment - - - - - - 12,618,109 12,618,109 December 31, 2018 110,040 158,219 248,896 196,767 51,760 245,647 13,673,883 14,685,212 Accumulated depreciation December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Depreciation - 4,444 10,176 8,089 479 5,089 - 28,277 December 31, 2018 110,040 138,928 223,878 172,300 49,845 225,293 - 920,284 Carrying amounts December 31, 2017 - 19,609 33,497 25,352 2,394 25,443 265,997 372,292 December 31, 2018 - 19,291 25,018 24,467 1,915 20,354 13,673,883 13,764,928 The Company acquired the Rock Creek mill (Note 5 June 12, 2018. December 31, 2018, $13,673,883 On August 9, 2018, $250,000 $326,000 one July 1, 2018, $352,200 $463,777 Automotive Furniture and fixtures and other Computer hardware Computer software Geological library Field equipment Mill equipment Total $ $ $ $ $ $ $ $ Cost December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 - 995,754 Additions - 19,029 15,748 4,300 - - 265,997 305,074 Disposals (36,529 ) - - - - - - (36,529 ) December 31, 2017 110,040 154,093 247,199 189,563 51,760 245,647 265,997 1,264,299 Accumulated depreciation December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 - 898,502 Disposals (34,769 ) - - - - - - (34,769 ) Depreciation 250 2,915 8,960 9,187 600 6,362 - 28,274 December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Carrying amounts December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 - 97,252 December 31, 2017 - 19,609 33,497 25,352 2,394 25,443 265,997 372,292 During the year ended December 31, 2017, $Nil $1,760. The Company has acquired containers to begin a mobilization plan to move the Rock Creek mill from Nome, Alaska to Mexico. As at December 31, 2017, $199,952 $66,045 |
Note 7 - Exploration and Evalua
Note 7 - Exploration and Evaluation Assets | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 7. Exploration and evaluation assets Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2017) 7,537,577 1 7,537,578 Additions 1,622,374 - 1,622,374 Closing balance - (December 31, 2018) 9,159,951 1 9,159,952 Deferred exploration costs: Opening balance - (December 31, 2017) 37,266,620 - 37,266,620 Costs incurred during the period Drilling and related costs 993,311 - 993,311 Professional/technical fees 59,038 - 59,038 Claim maintenance/lease costs 145,524 - 145,524 Geochemical, metallurgy 742,157 - 742,157 Technical studies 4,510,034 - 4,510,034 Travel and accommodation 457,968 - 457,968 Geology, geophysics and exploration 568,476 - 568,476 Supplies and misc. 168,725 - 168,725 Environmental 161,671 - 161,671 Value-added tax (Note 4) 444,994 - 444,994 Total deferred exploration costs during the period 8,251,898 - 8,251,898 Closing balance - (December 31, 2018) 45,518,518 - 45,518,518 Total exploration and evaluation assets 54,678,469 1 54,678,470 7. Exploration and evaluation assets (Continued) Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2016) 4,780,570 1 4,780,571 Additions 2,757,007 - 2,757,007 Closing balance - (December 31, 2017) 7,537,577 1 7,537,578 Deferred exploration costs: Opening balance - (December 31, 2016) 31,204,785 - 31,204,785 Costs incurred during the period Drilling and related costs 1,053,771 - 1,053,771 Professional/technical fees 112,191 - 112,191 Claim maintenance/lease costs 160,251 - 160,251 Geochemical, metallurgy 746,103 - 746,103 Technical studies 1,698,055 - 1,698,055 Travel and accommodation 390,927 - 390,927 Geology, geophysics and exploration 795,731 - 795,731 Supplies and misc. 118,015 - 118,015 Water exploration 7,981 - 7,981 Environmental 534,081 - 534,081 Value-added tax (Note 4) 444,729 - 444,729 Total deferred exploration costs during the period 6,061,835 - 6,061,835 Closing balance - (December 31, 2017) 37,266,620 - 37,266,620 Total exploration and evaluation assets 44,804,197 1 44,804,198 The following is a description of the Company’s most significant property interests and related spending commitments: (a) Tuligtic In 2001, 100% (b) Other Property The Company holds a 40% $1. |
Note 8 - Share Capital and Rese
Note 8 - Share Capital and Reserves | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of share capital, reserves and other equity interest [text block] | 8. Share capital and reserves (a) Authorized share capital At December 31, 2018, not (b) Details of private placement and other issues of common shares in 2018, 2017 2016 On June 7, 2018, 9,440,000 $1.00 $9,440,000. one one one one $1.35 June 7, 2022. October 8, 2018, $2.00 20 20th may 30th three $384,900 192,450 $1.35 June 7, 2020. $36,566 $216,659 On June 1, 2017, 9,857,800 $1.75 $17,251,150. one one one one $2.45 June 1, 2020. $1,035,069 295,734 $2.00 June 1, 2019. $171,526. $296,823 On February 7, 2017, 2,519,407 $1.35 $3,401,199. one one one one $2.00 August 7, 2019. $88,631 17,911 $1.35 August 7, 2019. $9,165. $116,408 On May 25, 2016, 3,229,082 $1.35 $4,359,260. one one one one $2.00 November 25, 2018. $147,925 45,944 $1.44 November 25, 2018. $17,918. $119,689 (c) Warrants The continuity of warrants for the years ended December 31, 2018, 2017 2016 Exercise December 31, December 31, Expiry date price 2017 Issued Exercised Expired 2018 November 25, 2018 $ 2.00 1,614,541 - - (1,614,541 ) - November 25, 2018 $ 1.44 22,972 - - (22,972 ) - June 1, 2019 $ 2.00 295,734 - - - 295,734 August 7, 2019 $ 2.00 1,259,704 - - - 1,259,704 August 7, 2019 $ 1.35 10,411 - - - 10,411 June 1, 2020 $ 2.45 4,928,900 - - - 4,928,900 June 7, 2020 $ 1.35 - 192,450 - - 192,450 June 7, 2022 $ 1.35 - 4,720,000 - - 4,720,000 Warrants outstanding and exercisable 8,132,262 4,912,450 - (1,637,513 ) 11,407,199 Weighted average exercise price $ 2.27 $ 1.35 - $ 1.99 $ 1.91 The weighted average remaining life of warrants outstanding at December 31, 2018 2.14 2017 1.95 Exercise December 31, December 31, Expiry date price 2016 Issued Exercised Expired 2017 November 17, 2017 $ 1.00 2,036,667 - (1,986,667 ) (50,000 ) - November 25, 2018 $ 2.00 1,614,541 - - - 1,614,541 November 25, 2018 $ 1.44 45,944 - (22,972 ) - 22,972 June 1, 2019 $ 2.00 - 295,734 - - 295,734 August 7, 2019 $ 2.00 - 1,259,704 - - 1,259,704 August 7, 2019 $ 1.35 - 17,911 (7,500 ) - 10,411 June 1, 2020 $ 2.45 - 4,928,900 - - 4,928,900 Warrants outstanding and exercisable 3,697,152 6,502,249 (2,017,139 ) (50,000 ) 8,132,262 Weighted average exercise price $ 1.44 $ 2.34 $ 1.01 $ 1.00 $ 2.27 The weighted average remaining life of warrants outstanding at December 31, 2017 1.95 2016 1.34 Exercise December 31, Expired/ December 31, Expiry date price 2015 Issued Exercised cancelled 2016 February 11, 2016 $ 1.76 2,210,000 - - (2,210,000 ) - February 11, 2016 $ 1.12 49,410 - - (49,410 ) - July 17, 2016 $ 1.58 4,376,000 - (4,376,000 ) - - July 17, 2016 $ 1.32 186,000 - - (186,000 ) - November 17, 2017 $ 1.00 2,253,334 - (216,667 ) - 2,036,667 November 17, 2017 $ 0.77 35,200 - (35,200 ) - - November 25, 2018 $ 2.00 - 1,614,541 - - 1,614,541 November 25, 2018 $ 1.44 - 45,944 - - 45,944 Warrants outstanding and exercisable 9,109,944 1,660,485 (4,627,867 ) (2,445,410 ) 3,697,152 Weighted average exercise price $ 1.47 $ 1.98 $ 1.55 $ 1.71 $ 1.44 The weighted average fair value of finders’ warrants granted during the years ended December 31, 2018, 2017 2016 Weighted average assumptions used Number of warrants Date of issue Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 192,450 June 7, 2018 $ 0.19 1.94 % 2 54.02 % $Nil 295,734 June 1, 2017 $ 0.58 0.71 % 2 66.26 % $Nil 17,911 February 7, 2017 $ 0.51 0.72 % 2.50 61.54 % $Nil 45,944 May 25, 2016 $ 0.39 0.59 % 2 55.53 % $Nil (d) Share purchase option compensation plan The Company’s stock option plan permits the issuance of options up to a maximum of 10% 2% twelve December 31, 2018, 1,465,672 may five The maximum term of all options is five five may no 25% three December 31, 2018, 2017 2016 The Company’s stock option plan permits the option holder to exercise cashless by surrendering a portion of the underlying option shares to pay for the exercise price and the corresponding withholding taxes, if applicable. The continuity of stock options for the year ended December 31, 2018, 2017 2016 Expiry date Exercise December 31, Granted Exercised Expired December 31, April 4, 2018 $ 1.74 90,000 - - (90,000 ) - May 6, 2018 $ 1.41 100,000 - - (100,000 ) - June 8, 2018 $ 1.44 1,915,000 - - (1,915,000 ) - June 18, 2018 $ 1.46 250,000 - - (250,000 ) - June 29, 2018 $ 1.71 15,000 - - (15,000 ) - August 9, 2018 $ 1.91 491,000 - - (491,000 ) - September 15, 2018 $ 1.85 170,000 - - (170,000 ) - December 11, 2018 $ 0.72 590,000 - (575,000 ) (i) (15,000 ) - December 11, 2018 $ 1.68 150,000 - - (150,000 ) - December 11, 2018 $ 1.80 20,000 - - (20,000 ) - January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 207,000 - - - 207,000 May 4, 2019 $ 1.99 175,000 - - - 175,000 May 19, 2019 $ 1.84 75,000 - - - 75,000 June 12, 2019 $ 1.89 75,000 - - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 1,427,000 - - - 1,427,000 September 19, 2019 $ 1.40 1,160,000 - - - 1,160,000 April 10, 2020 $ 1.03 - 90,000 - - 90,000 April 30, 2020 $ 1.53 500,000 - - - 500,000 April 30, 2020 $ 1.14 100,000 - - - 100,000 April 30, 2020 $ 1.04 - 100,000 - - 100,000 June 8, 2020 $ 0.98 - 2,180,000 - - 2,180,000 September 30, 2020 $ 1.25 1,195,000 - - (100,000 ) 1,095,000 September 30, 2020 $ 0.83 - 106,000 - - 106,000 September 30, 2020 $ 0.79 - 170,000 - - 170,000 December 13, 2020 $ 0.86 - 762,000 - - 762,000 February 7, 2021 $ 1.11 - 300,000 - - 300,000 March 29, 2021 $ 1.08 - 400,000 - - 400,000 December 12, 2021 $ 1.00 - 200,000 - - 200,000 Options outstanding and exercisable 9,290,000 4,308,000 (575,000 ) (3,316,000 ) 9,707,000 Weighted average exercise price $ 1.39 $ 0.97 $ 0.72 $ 1.54 $ 1.19 (i) In accordance with the Company’s stock option plan, options holders exercised 552,000 $0.72. 64,094. The weighted average remaining life of stock options outstanding at December 31, 2018 1.24 2017 1.33 Expiry date Exercise December 31, Granted Exercised Expired December 31, January 6, 2017 $ 0.98 1,180,000 - (1,180,000 ) (i) - - May 4, 2017 $ 1.91 175,000 - (75,000 ) (100,000 ) - June 8, 2017 $ 1.98 75,000 - - (75,000 ) - August 26, 2017 $ 0.74 1,310,000 - (1,310,000 ) (i) - - September 11, 2017 $ 2.31 500,000 - - (500,000 ) - November 22, 2017 $ 2.22 100,000 - - (100,000 ) - April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 100,000 - - - 100,000 June 8, 2018 $ 1.44 1,915,000 - - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 15,000 - - - 15,000 August 9, 2018 $ 1.91 491,000 - - - 491,000 September 15, 2018 $ 1.85 170,000 - - - 170,000 December 11, 2018 $ 0.72 724,000 - (134,000 ) (i) - 590,000 December 11, 2018 $ 1.68 150,000 - - - 150,000 December 11, 2018 $ 1.80 20,000 - - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 - 207,000 - - 207,000 May 4, 2019 $ 1.99 - 175,000 - - 175,000 May 19, 2019 $ 1.84 - 75,000 - - 75,000 June 12, 2019 $ 1.89 - 75,000 - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 - 1,427,000 - - 1,427,000 September 19, 2019 $ 1.40 - 1,160,000 - - 1,160,000 April 30, 2020 $ 1.53 - 500,000 - - 500,000 April 30, 2020 $ 1.14 - 100,000 - - 100,000 September 30, 2020 $ 1.25 - 1,195,000 - - 1,195,000 Options outstanding and exercisable 7,850,000 4,914,000 (2,699,000 ) (775,000 ) 9,290,000 Weighted average exercise price $ 1.29 $ 1.39 $ 0.88 $ 2.21 $ 1.39 (j) In accordance with the Company’s stock option plan, options holders exercised 350,000; 1,150,000 92,000 $0.98, $0.74 $0.72, 532,836. The weighted average remaining life of stock options outstanding at December 31, 2017 1.33 2016 1.13 Expiry date Exercise December 31, Granted Exercised Expired / cancelled December 31, 2016 May 6, 2016 $ 1.33 65,000 - - (65,000 ) - June 8, 2016 $ 2.89 2,145,000 - - (2,145,000 ) - July 14, 2016 $ 1.37 130,000 - (120,000 ) (i) (10,000 ) - August 15, 2016 $ 2.57 150,000 - - (150,000 ) - October 10, 2016 $ 1.23 150,000 - (150,000 ) (i) - - January 6, 2017 $ 0.98 1,180,000 - - - 1,180,000 May 4, 2017 $ 1.91 200,000 - - (25,000 ) 175,000 June 8, 2017 $ 1.98 75,000 - - - 75,000 August 26, 2017 $ 0.74 1,445,000 - (135,000 ) - 1,310,000 September 11, 2017 $ 2.31 500,000 - - - 500,000 November 22, 2017 $ 2.22 100,000 - - - 100,000 April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 - 100,000 - - 100,000 June 8, 2018 $ 1.44 - 1,915,000 - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 - 15,000 - - 15,000 August 9, 2018 $ 1.91 - 491,000 - - 491,000 September 15, 2018 $ 1.85 - 170,000 - - 170,000 December 11, 2018 $ 0.72 756,000 - (32,000 ) - 724,000 December 11, 2018 $ 1.68 - 150,000 - - 150,000 December 11, 2018 $ 1.80 - 20,000 - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 - 60,000 - - 60,000 Options outstanding and exercisable 7,761,000 2,921,000 (437,000 ) (2,395,000 ) 7,850,000 Weighted average exercise price $ 1.65 $ 1.55 $ 1.08 $ 2.81 $ 1.29 (i) In accordance with the Company’s stock option plan, options holders exercised 105,000 150,000 $1.37 $1.23. 63,510. The weighted average fair value of options granted during the years ended December 31, 2018, 2017 2016, Weighted average assumptions used Number of options Date of grant Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 762,000 December 13, 2018 $ 0.24 1.89 % 2 49.38 % $Nil 200,000 December 12, 2018 $ 0.28 2.06 % 3 49.50 % $Nil 170,000 September 26, 2018 $ 0.25 2.19 % 2 47.93 % $Nil 106,000 August 15, 2018 $ 0.21 2.09 % 2 48.39 % $Nil 2,180,000 June 18, 2018 $ 0.29 1.85 % 2 51.53 % $Nil 100,000 May 7, 2018 $ 0.33 1.95 % 2 55.21 % $Nil 90,000 April 10, 2018 $ 0.31 1.85 % 2 55.18 % $Nil 400,000 March 29, 2018 $ 0.42 1.94 % 3 55.10 % $Nil 300,000 February 7, 2018 $ 0.48 1.99 % 3 64.14 % $Nil 1,195,000 December 22, 2017 $ 0.62 1.71 % 3 65.20 % $Nil 100,000 November 23, 2017 $ 0.50 1.46 % 3 63.93 % $Nil 500,000 September 12, 2017 $ 0.55 1.59 % 2.5 63.12 % $Nil 1,160,000 August 25, 2017 $ 0.48 1.24 % 2 62.80 % $Nil 75,000 June 12, 2017 $ 0.63 0.88 % 2 65.95 % $Nil 75,000 May 19, 2017 $ 0.60 0.72 % 2 65.65 % $Nil 175,000 May 4, 2017 $ 0.63 0.71 % 2 65.77 % $Nil 207,000 March 17, 2017 $ 0.47 0.80 % 2 61.28 % $Nil 1,427,000 January 11, 2017 $ 0.54 0.75 % 2 68.94 % $Nil 60,000 December 21, 2016 $ 0.42 0.83 % 2 70.18 % $Nil 20,000 November 2, 2016 $ 0.69 0.54 % 2 68.31 % $Nil 150,000 October 6, 2016 $ 0.57 0.60 % 2 68.47 % $Nil 170,000 September 15, 2016 $ 0.70 0.58 % 2 68.08 % $Nil 491,000 August 9, 2016 $ 0.76 0.50 % 2 67.52 % $Nil 15,000 June 29, 2016 $ 0.87 0.54 % 2 66.44 % $Nil 1,915,000 June 8, 2016 $ 0.62 0.54 % 2 64.68 % $Nil 100,000 May 6, 2016 $ 0.52 0.54 % 2 63.84 % $Nil Total share-based payments expenses as a result of options granted and vested during the year ended December 31, 2018 $1,308,740 2017 2,693,070 2016 $1,869,010 |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of transactions between related parties [text block] | 9. Related party transactions and balances (a) Compensation of key management personnel Key management includes members of the Board, the President and Chief Executive Officer, the Chief Financial Officer, Vice President Operations & Projects, and the Vice President, Corporate Development. The net aggregate compensation paid or payable to key management for services after recovery from Azucar Minerals Ltd. and Almadex Minerals Ltd. (Note 9 December 31, December 31, December 31, 2018 2017 2016 Salaries and benefits $ 952,079 $ 813,400 $ 755,475 Share-based payments 1,090,540 2,216,170 1,537,060 Directors’ fees 70,000 70,000 41,000 $ 2,112,619 $ 3,099,570 $ 2,333,535 (b) Almadex Minerals Ltd (“Almadex”) Effective August 1, 2015, Effective May 18, 2018, During the year ended December 31, 2018, $542,657 2017 $499,798; 2016 $464,498 $243,260 2017 $Nil; 2016 $Nil At December 31, 2018, $170,181 2017 $195,551 $116,268 2017 $Nil At December 31, 2018, $37,533 2017 $153,038 (c) Other related party transactions During the year ended December 31, 2018, $48,800 2017 $43,800; 2016 $38,800 |
Note 10 - Net Loss Per Share
Note 10 - Net Loss Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of earnings per share [text block] | 10. Net loss per share Basic and diluted net loss per share The calculation of basic net loss per share for the year ended December 31, 2018 $3,511,667 2017 $5,231,295; 2016 $4,023,504 107,584,263 2017 95,873,417, 2016 82,322,754 The calculation of diluted net loss per share for the year ended December 31, 2018, 2017 2016 not |
Note 11 - Supplemental Cash Flo
Note 11 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of supplemental cash flow information [text block] | 11. Supplemental cash flow information Supplemental information regarding non-cash transactions is as follows: Investing and financing activities December 31, December 31, December 31, Exploration and evaluation assets expenditures included in trade and other payables $ 694,167 $ 493,943 $ 535,254 Fair value of finders’ warrants 36,566 180,691 17,918 Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants - 12,797 5,984 Fair value of cash stock options transferred to share capital on exercise of options 6,670 496,859 43,180 Fair value of cashless stock options transferred to share capital on exercise of options 160,080 387,930 108,300 Supplemental information regarding the split between cash and cash equivalents is as follows: December 31, December 31, Cash $ 2,580,580 $ 1,449,184 Term Deposits 2,500,000 14,885,350 $ 5,080,580 $ 16,334,534 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of income tax [text block] | 12. Income Taxes (a) The provision for income taxes differs from the amounts computed by applying the Canadian statutory rates to the net loss before income taxes due to the following: December 31, 2018 December 31, 2017 December 31, 2016 Loss before income taxes $ (3,511,667 ) $ (5,231,295 ) $ (4,023,504 ) Statutory rate 27.00 % 26.00 % 26.00 % Expected income tax (948,150 ) (1,360,137 ) (1,046,111 ) Effect of different tax rates in foreign jurisdictions (38,010 ) 9,728 343 Non-deductible share-based payments 353,360 700,198 485,943 Other permanent items 2,766 3,360 2,022 Change in deferred tax assets not recognized 151,738 1,921,226 3,518,776 Impact of change in tax rates - (348,020 ) - Impact of change in expected manner of recovery - - 853,274 Share issuance costs (172,294 ) (399,602 ) (39,241 ) True-ups and other 650,590 (526,753 ) (3,775,006 ) Deferred income tax (recovery) expenses $ - $ - $ - In September 2017, 11% 12% January 1, 2018 October 26, 2017. 26% 27%. (b) The Company’s deferred income tax recovery and deferred income tax liability relates to the Mexican income tax and Special Mining Duty (“SMD”) associated with the Tuligtic project. As a consequence of the Company’s spin-out, management has determined that the Company will most likely recover the carrying amount of the Tuligtic property through use rather than through sale. Before the spin-out was planned, it was management’s expectation that the carrying amount of the Tuligtic property would be recovered through sale rather than through use. Given this change in expected manner of recovery, the Company has reflected the tax impacts in the financial statements. The significant components of deferred income tax assets (liabilities) are as follows: December 31, 2018 December 31, 2017 Deferred tax assets Non-capital losses $ 4,282,555 $ 4,282,555 Deferred tax liabilities Exploration and evaluation assets (5,717,437 ) (5,717,437 ) Net deferred tax liabilities $ (1,434,882 ) $ (1,434,882 ) (c) Deductible temporary differences, unused tax losses and unused tax credits for which no December 31, December 31, Non-capital loss carry forwards $ 18,758,080 $ 17,803,193 Capital loss carry forwards 24,538,993 24,538,993 Exploration and evaluation assets 8,221,842 8,221,842 Share issue costs 1,554,264 1,778,234 Property, plant and equipment 483,609 10,127 Cumulative eligible capital deduction - 507,429 Investment tax credit 239,849 239,849 $ 53,796,637 $ 53,099,667 At December 31, 2018, $17,858,501 2017 $15,706,045 2032 2038 $15,173,872 2017 $16,378,174 2022 2028. |
Note 13 - Commitments
Note 13 - Commitments | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of commitments [text block] | 13. Commitments The Company has entered into an operating lease for office premises effective April 1, 2017 March 31, 2022. As at December 31, 2018, 2019 2020 2021 2022 2023 Total Office lease $ 179,706 $ 191,512 $ 192,336 $ 48,084 - $ 611,638 |
Note 14 - Financial Instruments
Note 14 - Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of financial instruments [text block] | 14. Financial instruments The fair values of the Company’s cash and cash equivalents, accounts receivable and trade and other payables approximate their carrying values because of the short-term nature of these instruments. The Company does not The Company is exposed to certain financial risks, including currency risk, credit risk, liquidity risk, interest rate risk and commodity and equity price risk. (a) Currency risk The Company’s property interests in Mexico make it subject to foreign currency fluctuations and inflationary pressures which may not As at December 31, 2018, All amounts in Canadian dollars US dollar Mexican peso Cash and cash equivalents $ 1,004,652 $ 293,525 Accounts receivable and prepaid expenses - 82 Total assets $ 1,004,652 $ 293,607 Trade and other payables $ 531,083 $ 40,373 Total liabilities $ 531,083 $ 40,373 Net assets $ 473,569 $ 253,234 A 10% $47,000. A 10% $25,000. (b) Credit risk The Company’s cash and cash equivalents are held in large financial institutions, located in both Canada and Mexico. Cash equivalents mature at less than ninety twelve To mitigate exposure to credit risk on cash and cash equivalents, the Company has established policies to limit the concentration of credit risk with any given banking institution where the funds are held, to ensure counterparties demonstrate minimum acceptable credit risk worthiness and ensure liquidity of available funds. As at December 31, 2018, (c) Liquidity risk Liquidity risk is the risk that the Company will not Trade and other payables are due within twelve (d) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to varying interest rates on cash and cash equivalents. The Company has no A 1% $51,000. (e) Commodity and equity price risk The ability of the Company to explore its exploration and evaluation assets and the future profitability of the Company are directly related to the market price of gold and other precious metals. The Company monitors gold prices to determine the appropriate course of action to be taken by the Company. Equity price risk is defined as the potential adverse impact on the Company’s performance due to movements in individual equity prices or general movements in the level of the stock market. |
Note 15 - Management of Capital
Note 15 - Management of Capital | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of objectives, policies and processes for managing capital [text block] | 15. Management of capital The Company considers its capital to consist of components of equity. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the exploration of its exploration and evaluation assets and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may In order to maximize ongoing exploration efforts, the Company does not The Company expects its current capital resources will be sufficient to carry its exploration plans and operations for the foreseeable future. There were no |
Note 16 - Segmented Information
Note 16 - Segmented Information | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of operating segments [text block] | 16. Segmented information The Company operates in one The Company’s non-current assets are located in the following geographic locations: December 31, December 31, 2017 Canada $ 86,372 $ 120,803 United States 13,673,883 5,168,856 Mexico 54,683,143 44,810,040 $ 68,443,398 $ 50,099,699 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of events after reporting period [text block] | 17. Subsequent events On January 3, 2019, 425,000 one $0.84 February 7, 2021. On March 1, 2019, 100,000 one $0.90 March 29, 2021. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Discloure of Significant Accounting Policies | |
Description of accounting policy for basis of consolidation [text block] | ( a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows: Jurisdiction Nature of operations Puebla Holdings Inc. Canada Holding company Minera Gorrion, S.A. de C.V. Mexico Exploration company Molinos de Puebla, S.A. de C.V. Mexico Holding company Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing these consolidated financial statements. |
Description of accounting policy for foreign currency translation [text block] | (b) Foreign currencies Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction dates. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are not |
Description of accounting policy for financial instruments [text block] | (c) Financial instruments The Company has initially adopted IFRS 9, Financial Instruments 9” January 1, 2018. not January 1, 2018, not IFRS 9 39, Financial Instruments: Recognition and Measurement 39” no 9. The details of the new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. (i) Classification and measurement of financial assets and liabilities IFRS 9 39 39 The adoption of IFRS 9 not 9 A financial asset is classified as measured at: amortized cost, fair value through other comprehensive income (FVOCI), or fair value through profit or loss (FVTPL). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. The Company's financial assets consist primarily of cash and cash equivalents, and accounts receivable are classified at amortized cost. (ii) Impairment of financial assets An ‘expected credit loss’ (ECL) model applies to financial assets measured at amortized cost, contract assets and debt investments at FVOCI, but not The adoption of the ECL impairment model had no |
Description of accounting policy for determining components of cash and cash equivalents [text block] | (d) Cash and cash equivalents Cash equivalents include money market instruments which are readily convertible into cash or have maturities at the date of purchase of less than ninety |
Description of accounting policy for property, plant and equipment [text block] | (e) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, and are depreciated annually on a declining-balance basis if available-for-use at the following rates: Automotive equipment 30% Furniture, fixtures and other 20% Computer hardware and software 30% Geological library 20% Field equipment 20% Mill equipment Straight line over mine life (11 years) |
Description of accounting policy for exploration and evaluation expenditures [text block] | (f) Exploration and evaluation assets The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and, accordingly, follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of mineral claims to which the Company has rights and crediting all proceeds received from farm-out arrangements or recovery of costs against the cost of the related claims. Acquisition costs include, but are not not The Company considers the following facts and circumstances in determining if it should test exploration and evaluation assets for impairment: (i) the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not (ii) substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned; (iii) exploration for and evaluation of mineral resources in the specific area have not (iv) sufficient data exists to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation assets is unlikely to be recovered in full from successful development or by sale. An impairment charge may not no not The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in profit or loss costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area of interest are first All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditure is not |
Description of accounting policy for impairment of assets [text block] | (g) Impairment of property, plant and equipment Property, plant and equipment are reviewed for impairment at least annually, or if there is any indication that the carrying amount may not not An asset’s recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount is reduced to the recoverable amount by way of recording an impairment charge to profit or loss. Where an impairment subsequently reverses, the carrying amount is increased to the revised estimate of recoverable amount but only to the extent that this does not no |
Description of accounting policy for income tax [text block] | (h) Income taxes Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no |
Description of accounting policy for share-based payment transactions [text block] | (i) Share-based payments The Company’s stock option plan allows Company employees, directors, officers and consultants to acquire shares of the Company. The fair value of options granted is recognized as share-based payment expense with a corresponding increase in equity reserves. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee . Fair value is measured at grant date, and each tranche is recognized using the graded vesting method over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model, taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of stock options that are expected to vest. In situations where equity instruments are issued to consultants and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at the fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of goods or services received. |
Description of accounting policy for capital shares [text block] | (j) Share capital Proceeds from the exercise of stock options and warrants are recorded as share capital in the amount for which the option or warrant enabled the holder to purchase a share in the Company, in addition to the proportionate amount of reserves originally created at the issuance of the stock options or warrants. Share capital issued for non-monetary consideration is valued at the closing market price at the date of issuance. The proceeds from the issuance of units are allocated between common shares and common share purchase warrants based on the residual value method. Under this method, the proceeds are allocated to common shares based on the fair value of a common share at the announcement date of the unit offering and any residual remaining is allocated to common share purchase warrants. |
Description of accounting policy for reclamation and closure cost obligations [text block] | (k) Reclamation and closure cost obligations Decommissioning and restoration provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation and discount rates. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows discounted for the market discount rate. Over time the discounted liability is increased for the changes in the present value based on the current market discount rates and liability risks. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third When the Company enters into an option agreement on its exploration and evaluations assets, as part of the option agreement, responsibility for any reclamation and remediation becomes the responsibility of the optionee. |
Description of accounting policy for earnings per share [text block] | (l) Net loss per share The Company presents the basic and diluted net loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net loss per share is determined by adjusting the net loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares (Note 10 |
Description of accounting policy for new and revised accounting standards effective at the begging of the year [text block] | (m) Application of new and revised accounting standards effective January 1, 2018 The following new accounting standards and amendments which the Company adopted and are effective for the Company's annual consolidated financial statements commencing January 1, 2018: Financial instruments IFRS 9 July 2014, 9 39. 9 9 January 1, 2018, not |
Description of accounting policy for new accounting standards [text block] | (n) Future accounting standards Certain pronouncements were issued by the IASB or IFRIC but are not December 31, 2018. not not The following are the accounting standards issued but not Leases IFRS 16 January 2016, 16, Leases 16" 17, Leases 16 16 January 1, 2019. The Company went through the process of reviewing contracts and identifying those that might be relevant under the new standard. Specific leases identified for further review included office leases and an equipment/service contract for a printer. Based on the assessment of the standard, the Company estimates that it will recognize as a lessee, the right-of-use lease assets and related liabilities for existing operating leases of approximately $400,000 |
Note 3 - Significant Accounti_2
Note 3 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of property, plant and equipment depreciation rate [text block] | Automotive equipment 30% Furniture, fixtures and other 20% Computer hardware and software 30% Geological library 20% Field equipment 20% Mill equipment Straight line over mine life (11 years) |
Note 4 - Accounts Receivable _2
Note 4 - Accounts Receivable and Prepaid Expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of accounts receivable and prepaid expense [text block] | December 31, December 31, 2018 2017 Accounts receivable (Note 9(b)) $ 300,700 $ 243,971 Prepaid expenses 103,716 124,992 $ 404,416 $ 368,963 |
Note 5 - Deposit on Mill Equi_2
Note 5 - Deposit on Mill Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of option payments [text block] | $ $ USD CAD Balance, December 31, 2016 1,280,383 Additions: purchase price deposits 2,000,000 2,647,600 Additions: mobilization payments 767,500 995,226 Balance, December 31, 2017 4,923,209 Additions: purchase price deposits 3,750,000 4,876,500 Additions: mobilization payments 2,211,300 2,818,400 12,618,109 Transfer to property, plant and equipment (12,618,109 ) Balance, December 31, 2018 - |
Note 6 - Property, Plant and _2
Note 6 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about property, plant and equipment [text block] | Automotive Furniture and fixtures and other Computer hardware Computer software Geological library Field equipment Mill Total $ $ $ $ $ $ $ $ Cost December 31, 2017 110,040 154,093 247,199 189,563 51,760 245,647 265,997 1,264,299 Additions - 4,126 1,697 7,204 - - 789,777 802,804 Transfer from deposit on mill equipment - - - - - - 12,618,109 12,618,109 December 31, 2018 110,040 158,219 248,896 196,767 51,760 245,647 13,673,883 14,685,212 Accumulated depreciation December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Depreciation - 4,444 10,176 8,089 479 5,089 - 28,277 December 31, 2018 110,040 138,928 223,878 172,300 49,845 225,293 - 920,284 Carrying amounts December 31, 2017 - 19,609 33,497 25,352 2,394 25,443 265,997 372,292 December 31, 2018 - 19,291 25,018 24,467 1,915 20,354 13,673,883 13,764,928 Automotive Furniture and fixtures and other Computer hardware Computer software Geological library Field equipment Mill equipment Total $ $ $ $ $ $ $ $ Cost December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 - 995,754 Additions - 19,029 15,748 4,300 - - 265,997 305,074 Disposals (36,529 ) - - - - - - (36,529 ) December 31, 2017 110,040 154,093 247,199 189,563 51,760 245,647 265,997 1,264,299 Accumulated depreciation December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 - 898,502 Disposals (34,769 ) - - - - - - (34,769 ) Depreciation 250 2,915 8,960 9,187 600 6,362 - 28,274 December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Carrying amounts December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 - 97,252 December 31, 2017 - 19,609 33,497 25,352 2,394 25,443 265,997 372,292 |
Note 7 - Exploration and Eval_2
Note 7 - Exploration and Evaluation Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation asset [text block] | Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2017) 7,537,577 1 7,537,578 Additions 1,622,374 - 1,622,374 Closing balance - (December 31, 2018) 9,159,951 1 9,159,952 Deferred exploration costs: Opening balance - (December 31, 2017) 37,266,620 - 37,266,620 Costs incurred during the period Drilling and related costs 993,311 - 993,311 Professional/technical fees 59,038 - 59,038 Claim maintenance/lease costs 145,524 - 145,524 Geochemical, metallurgy 742,157 - 742,157 Technical studies 4,510,034 - 4,510,034 Travel and accommodation 457,968 - 457,968 Geology, geophysics and exploration 568,476 - 568,476 Supplies and misc. 168,725 - 168,725 Environmental 161,671 - 161,671 Value-added tax (Note 4) 444,994 - 444,994 Total deferred exploration costs during the period 8,251,898 - 8,251,898 Closing balance - (December 31, 2018) 45,518,518 - 45,518,518 Total exploration and evaluation assets 54,678,469 1 54,678,470 Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2016) 4,780,570 1 4,780,571 Additions 2,757,007 - 2,757,007 Closing balance - (December 31, 2017) 7,537,577 1 7,537,578 Deferred exploration costs: Opening balance - (December 31, 2016) 31,204,785 - 31,204,785 Costs incurred during the period Drilling and related costs 1,053,771 - 1,053,771 Professional/technical fees 112,191 - 112,191 Claim maintenance/lease costs 160,251 - 160,251 Geochemical, metallurgy 746,103 - 746,103 Technical studies 1,698,055 - 1,698,055 Travel and accommodation 390,927 - 390,927 Geology, geophysics and exploration 795,731 - 795,731 Supplies and misc. 118,015 - 118,015 Water exploration 7,981 - 7,981 Environmental 534,081 - 534,081 Value-added tax (Note 4) 444,729 - 444,729 Total deferred exploration costs during the period 6,061,835 - 6,061,835 Closing balance - (December 31, 2017) 37,266,620 - 37,266,620 Total exploration and evaluation assets 44,804,197 1 44,804,198 |
Note 8 - Share Capital and Re_2
Note 8 - Share Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of number and weighted average exercise prices of other equity instruments [text block] | Exercise December 31, December 31, Expiry date price 2017 Issued Exercised Expired 2018 November 25, 2018 $ 2.00 1,614,541 - - (1,614,541 ) - November 25, 2018 $ 1.44 22,972 - - (22,972 ) - June 1, 2019 $ 2.00 295,734 - - - 295,734 August 7, 2019 $ 2.00 1,259,704 - - - 1,259,704 August 7, 2019 $ 1.35 10,411 - - - 10,411 June 1, 2020 $ 2.45 4,928,900 - - - 4,928,900 June 7, 2020 $ 1.35 - 192,450 - - 192,450 June 7, 2022 $ 1.35 - 4,720,000 - - 4,720,000 Warrants outstanding and exercisable 8,132,262 4,912,450 - (1,637,513 ) 11,407,199 Weighted average exercise price $ 2.27 $ 1.35 - $ 1.99 $ 1.91 Exercise December 31, December 31, Expiry date price 2016 Issued Exercised Expired 2017 November 17, 2017 $ 1.00 2,036,667 - (1,986,667 ) (50,000 ) - November 25, 2018 $ 2.00 1,614,541 - - - 1,614,541 November 25, 2018 $ 1.44 45,944 - (22,972 ) - 22,972 June 1, 2019 $ 2.00 - 295,734 - - 295,734 August 7, 2019 $ 2.00 - 1,259,704 - - 1,259,704 August 7, 2019 $ 1.35 - 17,911 (7,500 ) - 10,411 June 1, 2020 $ 2.45 - 4,928,900 - - 4,928,900 Warrants outstanding and exercisable 3,697,152 6,502,249 (2,017,139 ) (50,000 ) 8,132,262 Weighted average exercise price $ 1.44 $ 2.34 $ 1.01 $ 1.00 $ 2.27 Exercise December 31, Expired/ December 31, Expiry date price 2015 Issued Exercised cancelled 2016 February 11, 2016 $ 1.76 2,210,000 - - (2,210,000 ) - February 11, 2016 $ 1.12 49,410 - - (49,410 ) - July 17, 2016 $ 1.58 4,376,000 - (4,376,000 ) - - July 17, 2016 $ 1.32 186,000 - - (186,000 ) - November 17, 2017 $ 1.00 2,253,334 - (216,667 ) - 2,036,667 November 17, 2017 $ 0.77 35,200 - (35,200 ) - - November 25, 2018 $ 2.00 - 1,614,541 - - 1,614,541 November 25, 2018 $ 1.44 - 45,944 - - 45,944 Warrants outstanding and exercisable 9,109,944 1,660,485 (4,627,867 ) (2,445,410 ) 3,697,152 Weighted average exercise price $ 1.47 $ 1.98 $ 1.55 $ 1.71 $ 1.44 |
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block] | Number of warrants Date of issue Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 192,450 June 7, 2018 $ 0.19 1.94 % 2 54.02 % $Nil 295,734 June 1, 2017 $ 0.58 0.71 % 2 66.26 % $Nil 17,911 February 7, 2017 $ 0.51 0.72 % 2.50 61.54 % $Nil 45,944 May 25, 2016 $ 0.39 0.59 % 2 55.53 % $Nil |
Disclosure of number and weighted average exercise prices of share options [text block] | Expiry date Exercise December 31, Granted Exercised Expired December 31, April 4, 2018 $ 1.74 90,000 - - (90,000 ) - May 6, 2018 $ 1.41 100,000 - - (100,000 ) - June 8, 2018 $ 1.44 1,915,000 - - (1,915,000 ) - June 18, 2018 $ 1.46 250,000 - - (250,000 ) - June 29, 2018 $ 1.71 15,000 - - (15,000 ) - August 9, 2018 $ 1.91 491,000 - - (491,000 ) - September 15, 2018 $ 1.85 170,000 - - (170,000 ) - December 11, 2018 $ 0.72 590,000 - (575,000 ) (i) (15,000 ) - December 11, 2018 $ 1.68 150,000 - - (150,000 ) - December 11, 2018 $ 1.80 20,000 - - (20,000 ) - January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 207,000 - - - 207,000 May 4, 2019 $ 1.99 175,000 - - - 175,000 May 19, 2019 $ 1.84 75,000 - - - 75,000 June 12, 2019 $ 1.89 75,000 - - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 1,427,000 - - - 1,427,000 September 19, 2019 $ 1.40 1,160,000 - - - 1,160,000 April 10, 2020 $ 1.03 - 90,000 - - 90,000 April 30, 2020 $ 1.53 500,000 - - - 500,000 April 30, 2020 $ 1.14 100,000 - - - 100,000 April 30, 2020 $ 1.04 - 100,000 - - 100,000 June 8, 2020 $ 0.98 - 2,180,000 - - 2,180,000 September 30, 2020 $ 1.25 1,195,000 - - (100,000 ) 1,095,000 September 30, 2020 $ 0.83 - 106,000 - - 106,000 September 30, 2020 $ 0.79 - 170,000 - - 170,000 December 13, 2020 $ 0.86 - 762,000 - - 762,000 February 7, 2021 $ 1.11 - 300,000 - - 300,000 March 29, 2021 $ 1.08 - 400,000 - - 400,000 December 12, 2021 $ 1.00 - 200,000 - - 200,000 Options outstanding and exercisable 9,290,000 4,308,000 (575,000 ) (3,316,000 ) 9,707,000 Weighted average exercise price $ 1.39 $ 0.97 $ 0.72 $ 1.54 $ 1.19 Expiry date Exercise December 31, Granted Exercised Expired December 31, January 6, 2017 $ 0.98 1,180,000 - (1,180,000 ) (i) - - May 4, 2017 $ 1.91 175,000 - (75,000 ) (100,000 ) - June 8, 2017 $ 1.98 75,000 - - (75,000 ) - August 26, 2017 $ 0.74 1,310,000 - (1,310,000 ) (i) - - September 11, 2017 $ 2.31 500,000 - - (500,000 ) - November 22, 2017 $ 2.22 100,000 - - (100,000 ) - April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 100,000 - - - 100,000 June 8, 2018 $ 1.44 1,915,000 - - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 15,000 - - - 15,000 August 9, 2018 $ 1.91 491,000 - - - 491,000 September 15, 2018 $ 1.85 170,000 - - - 170,000 December 11, 2018 $ 0.72 724,000 - (134,000 ) (i) - 590,000 December 11, 2018 $ 1.68 150,000 - - - 150,000 December 11, 2018 $ 1.80 20,000 - - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 - 207,000 - - 207,000 May 4, 2019 $ 1.99 - 175,000 - - 175,000 May 19, 2019 $ 1.84 - 75,000 - - 75,000 June 12, 2019 $ 1.89 - 75,000 - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 - 1,427,000 - - 1,427,000 September 19, 2019 $ 1.40 - 1,160,000 - - 1,160,000 April 30, 2020 $ 1.53 - 500,000 - - 500,000 April 30, 2020 $ 1.14 - 100,000 - - 100,000 September 30, 2020 $ 1.25 - 1,195,000 - - 1,195,000 Options outstanding and exercisable 7,850,000 4,914,000 (2,699,000 ) (775,000 ) 9,290,000 Weighted average exercise price $ 1.29 $ 1.39 $ 0.88 $ 2.21 $ 1.39 Expiry date Exercise December 31, Granted Exercised Expired / cancelled December 31, 2016 May 6, 2016 $ 1.33 65,000 - - (65,000 ) - June 8, 2016 $ 2.89 2,145,000 - - (2,145,000 ) - July 14, 2016 $ 1.37 130,000 - (120,000 ) (i) (10,000 ) - August 15, 2016 $ 2.57 150,000 - - (150,000 ) - October 10, 2016 $ 1.23 150,000 - (150,000 ) (i) - - January 6, 2017 $ 0.98 1,180,000 - - - 1,180,000 May 4, 2017 $ 1.91 200,000 - - (25,000 ) 175,000 June 8, 2017 $ 1.98 75,000 - - - 75,000 August 26, 2017 $ 0.74 1,445,000 - (135,000 ) - 1,310,000 September 11, 2017 $ 2.31 500,000 - - - 500,000 November 22, 2017 $ 2.22 100,000 - - - 100,000 April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 - 100,000 - - 100,000 June 8, 2018 $ 1.44 - 1,915,000 - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 - 15,000 - - 15,000 August 9, 2018 $ 1.91 - 491,000 - - 491,000 September 15, 2018 $ 1.85 - 170,000 - - 170,000 December 11, 2018 $ 0.72 756,000 - (32,000 ) - 724,000 December 11, 2018 $ 1.68 - 150,000 - - 150,000 December 11, 2018 $ 1.80 - 20,000 - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 - 60,000 - - 60,000 Options outstanding and exercisable 7,761,000 2,921,000 (437,000 ) (2,395,000 ) 7,850,000 Weighted average exercise price $ 1.65 $ 1.55 $ 1.08 $ 2.81 $ 1.29 |
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block] | Number of options Date of grant Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 762,000 December 13, 2018 $ 0.24 1.89 % 2 49.38 % $Nil 200,000 December 12, 2018 $ 0.28 2.06 % 3 49.50 % $Nil 170,000 September 26, 2018 $ 0.25 2.19 % 2 47.93 % $Nil 106,000 August 15, 2018 $ 0.21 2.09 % 2 48.39 % $Nil 2,180,000 June 18, 2018 $ 0.29 1.85 % 2 51.53 % $Nil 100,000 May 7, 2018 $ 0.33 1.95 % 2 55.21 % $Nil 90,000 April 10, 2018 $ 0.31 1.85 % 2 55.18 % $Nil 400,000 March 29, 2018 $ 0.42 1.94 % 3 55.10 % $Nil 300,000 February 7, 2018 $ 0.48 1.99 % 3 64.14 % $Nil 1,195,000 December 22, 2017 $ 0.62 1.71 % 3 65.20 % $Nil 100,000 November 23, 2017 $ 0.50 1.46 % 3 63.93 % $Nil 500,000 September 12, 2017 $ 0.55 1.59 % 2.5 63.12 % $Nil 1,160,000 August 25, 2017 $ 0.48 1.24 % 2 62.80 % $Nil 75,000 June 12, 2017 $ 0.63 0.88 % 2 65.95 % $Nil 75,000 May 19, 2017 $ 0.60 0.72 % 2 65.65 % $Nil 175,000 May 4, 2017 $ 0.63 0.71 % 2 65.77 % $Nil 207,000 March 17, 2017 $ 0.47 0.80 % 2 61.28 % $Nil 1,427,000 January 11, 2017 $ 0.54 0.75 % 2 68.94 % $Nil 60,000 December 21, 2016 $ 0.42 0.83 % 2 70.18 % $Nil 20,000 November 2, 2016 $ 0.69 0.54 % 2 68.31 % $Nil 150,000 October 6, 2016 $ 0.57 0.60 % 2 68.47 % $Nil 170,000 September 15, 2016 $ 0.70 0.58 % 2 68.08 % $Nil 491,000 August 9, 2016 $ 0.76 0.50 % 2 67.52 % $Nil 15,000 June 29, 2016 $ 0.87 0.54 % 2 66.44 % $Nil 1,915,000 June 8, 2016 $ 0.62 0.54 % 2 64.68 % $Nil 100,000 May 6, 2016 $ 0.52 0.54 % 2 63.84 % $Nil |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions and Balances (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of the transactions between related parties [text block] | December 31, December 31, December 31, 2018 2017 2016 Salaries and benefits $ 952,079 $ 813,400 $ 755,475 Share-based payments 1,090,540 2,216,170 1,537,060 Directors’ fees 70,000 70,000 41,000 $ 2,112,619 $ 3,099,570 $ 2,333,535 |
Note 11 - Supplemental Cash F_2
Note 11 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of supplemental cash flow [text block] | Investing and financing activities December 31, December 31, December 31, Exploration and evaluation assets expenditures included in trade and other payables $ 694,167 $ 493,943 $ 535,254 Fair value of finders’ warrants 36,566 180,691 17,918 Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants - 12,797 5,984 Fair value of cash stock options transferred to share capital on exercise of options 6,670 496,859 43,180 Fair value of cashless stock options transferred to share capital on exercise of options 160,080 387,930 108,300 December 31, December 31, Cash $ 2,580,580 $ 1,449,184 Term Deposits 2,500,000 14,885,350 $ 5,080,580 $ 16,334,534 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of deferred income taxes [text block] | December 31, 2018 December 31, 2017 December 31, 2016 Loss before income taxes $ (3,511,667 ) $ (5,231,295 ) $ (4,023,504 ) Statutory rate 27.00 % 26.00 % 26.00 % Expected income tax (948,150 ) (1,360,137 ) (1,046,111 ) Effect of different tax rates in foreign jurisdictions (38,010 ) 9,728 343 Non-deductible share-based payments 353,360 700,198 485,943 Other permanent items 2,766 3,360 2,022 Change in deferred tax assets not recognized 151,738 1,921,226 3,518,776 Impact of change in tax rates - (348,020 ) - Impact of change in expected manner of recovery - - 853,274 Share issuance costs (172,294 ) (399,602 ) (39,241 ) True-ups and other 650,590 (526,753 ) (3,775,006 ) Deferred income tax (recovery) expenses $ - $ - $ - |
Disclosure of deferred tax assets and liabilities [text block] | December 31, 2018 December 31, 2017 Deferred tax assets Non-capital losses $ 4,282,555 $ 4,282,555 Deferred tax liabilities Exploration and evaluation assets (5,717,437 ) (5,717,437 ) Net deferred tax liabilities $ (1,434,882 ) $ (1,434,882 ) |
Disclosure of temporary difference, unused tax losses and unused tax credits [text block] | December 31, December 31, Non-capital loss carry forwards $ 18,758,080 $ 17,803,193 Capital loss carry forwards 24,538,993 24,538,993 Exploration and evaluation assets 8,221,842 8,221,842 Share issue costs 1,554,264 1,778,234 Property, plant and equipment 483,609 10,127 Cumulative eligible capital deduction - 507,429 Investment tax credit 239,849 239,849 $ 53,796,637 $ 53,099,667 |
Note 13 - Commitments (Tables)
Note 13 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of commitments and obligations [text block] | 2019 2020 2021 2022 2023 Total Office lease $ 179,706 $ 191,512 $ 192,336 $ 48,084 - $ 611,638 |
Note 14 - Financial Instrumen_2
Note 14 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of financial assets and liabilities [text block] | All amounts in Canadian dollars US dollar Mexican peso Cash and cash equivalents $ 1,004,652 $ 293,525 Accounts receivable and prepaid expenses - 82 Total assets $ 1,004,652 $ 293,607 Trade and other payables $ 531,083 $ 40,373 Total liabilities $ 531,083 $ 40,373 Net assets $ 473,569 $ 253,234 |
Note 16 - Segmented Informati_2
Note 16 - Segmented Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Disclosure of segment reporting information, by segment [text block] | December 31, December 31, 2017 Canada $ 86,372 $ 120,803 United States 13,673,883 5,168,856 Mexico 54,683,143 44,810,040 $ 68,443,398 $ 50,099,699 |
Note 3 - Significant Accounti_3
Note 3 - Significant Accounting Policies (Details Textual) - Adoption of new accounting policy [member] | Jan. 01, 2019CAD ($) |
Statement Line Items [Line Items] | |
Right-of-use assets | $ 400,000 |
Total lease liabilities | $ 400,000 |
Note 3 - Significant Accounti_4
Note 3 - Significant Accounting Policies - Property, Plant and Equipment Depreciation Rate (Details) | Dec. 31, 2018 |
Vehicles [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 30.00% |
Furniture, fixtures and fittings [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Computer equipment [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 30.00% |
Geological library [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Field equipment [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Note 4 - Accounts Receivable _3
Note 4 - Accounts Receivable and Prepaid Expenses (Details Textual) - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | ||
Value added tax receivables | $ 444,994 | $ 444,729 |
Note 4 - Accounts Receivable _4
Note 4 - Accounts Receivable and Prepaid Expenses - Schedule of Accounts Receivable and Prepaid Expenses (Details) - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | ||
Accounts receivable (Note 9(b)) | $ 300,700 | $ 243,971 |
Prepaid expenses | 103,716 | 124,992 |
Total accounts receivable and prepaid expenses | $ 404,416 | $ 368,963 |
Note 5 - Deposit on Mill Equi_3
Note 5 - Deposit on Mill Equipment (Details Textual) | Jul. 01, 2018CAD ($) | Jul. 01, 2018USD ($) | Jun. 12, 2018CAD ($) | Jun. 12, 2018USD ($) | Oct. 16, 2015CAD ($)shares | Oct. 16, 2015USD ($)shares | Dec. 31, 2018CAD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016CAD ($) |
Statement Line Items [Line Items] | |||||||||||
Payments for purchase obligations for equipment | $ 7,694,900 | $ 3,642,826 | $ 324,600 | ||||||||
Mill mobilization payments | $ 463,777 | $ 352,200 | 2,818,400 | $ 2,211,300 | $ 995,226 | $ 767,500 | |||||
Rock Creek Mill [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Option to purchase property | $ 6,500,000 | ||||||||||
Total number of shares issued | shares | 407,997 | 407,997 | |||||||||
Fair value of shares issued | $ 273,358 | ||||||||||
Mill mobilization payments | $ 2,818,400 | $ 2,211,300 | |||||||||
Rock Creek Mill [member] | Major purchases of assets [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Payments for purchase obligations for equipment | $ 4,876,500 | $ 3,750,000 |
Note 5 - Deposit on Mill Equi_4
Note 5 - Deposit on Mill Equipment - Schedule of Option Payments (Details) | Jul. 01, 2018CAD ($) | Jul. 01, 2018USD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) |
Statement Line Items [Line Items] | ||||||
Balance | $ 4,923,209 | $ 1,280,383 | ||||
Additions: purchase price deposits | 4,876,500 | $ 3,750,000 | 2,647,600 | $ 2,000,000 | ||
Additions: mobilization payments | $ 463,777 | $ 352,200 | 2,818,400 | $ 2,211,300 | 995,226 | $ 767,500 |
12,618,109 | ||||||
Transfer to property, plant and equipment | (12,618,109) | |||||
Balance | $ 4,923,209 |
Note 6 - Property, Plant and _3
Note 6 - Property, Plant and Equipment (Details Textual) | Aug. 09, 2018CAD ($) | Aug. 09, 2018USD ($) | Jul. 01, 2018CAD ($) | Jul. 01, 2018USD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016CAD ($) |
Statement Line Items [Line Items] | |||||||||
Property, plant and equipment at end of period | $ 13,764,928 | $ 372,292 | $ 97,252 | ||||||
Mill storage extension payment | $ 326,000 | $ 250,000 | |||||||
Mill mobilization payments | $ 463,777 | $ 352,200 | 2,818,400 | $ 2,211,300 | 995,226 | $ 767,500 | |||
Proceeds from disposals of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets | 0 | ||||||||
Losses on disposals of property, plant and equipment | 1,760 | ||||||||
Mill Equipment [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Property, plant and equipment at end of period | $ 13,673,883 | 265,997 | |||||||
Container costs [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Property, plant and equipment at end of period | 199,952 | ||||||||
Crane [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Property, plant and equipment at end of period | $ 66,045 |
Note 6 - Property, Plant and _4
Note 6 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Line Items [Line Items] | ||
Balance | $ 372,292 | $ 97,252 |
Transfer from deposit on mill equipment | 12,618,109 | |
Balance | 13,764,928 | 372,292 |
Carrying amounts | 372,292 | 372,292 |
Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 25,352 | 30,239 |
Balance | 24,467 | 25,352 |
Carrying amounts | 25,352 | 25,352 |
Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 2,010 | |
Balance | ||
Carrying amounts | ||
Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 19,609 | 3,495 |
Balance | 19,291 | 19,609 |
Carrying amounts | 19,609 | 19,609 |
Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 33,497 | 26,709 |
Balance | 25,018 | 33,497 |
Carrying amounts | 33,497 | 33,497 |
Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 2,394 | 2,994 |
Balance | 1,915 | 2,394 |
Carrying amounts | 2,394 | 2,394 |
Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 25,443 | 31,805 |
Balance | 20,354 | 25,443 |
Carrying amounts | 25,443 | 25,443 |
Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 265,997 | |
Balance | 13,673,883 | 265,997 |
Carrying amounts | 13,673,883 | 265,997 |
Gross carrying amount [member] | ||
Statement Line Items [Line Items] | ||
Balance | 1,264,299 | 995,754 |
Additions | 802,804 | 305,074 |
Transfer from deposit on mill equipment | 12,618,109 | |
Balance | 14,685,212 | 1,264,299 |
Carrying amounts | 1,264,299 | 1,264,299 |
Disposals | (36,529) | |
Gross carrying amount [member] | Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 189,563 | 185,263 |
Additions | 7,204 | 4,300 |
Transfer from deposit on mill equipment | ||
Balance | 196,767 | 189,563 |
Carrying amounts | 189,563 | 189,563 |
Disposals | ||
Gross carrying amount [member] | Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 110,040 | 146,569 |
Additions | ||
Transfer from deposit on mill equipment | ||
Balance | 110,040 | 110,040 |
Carrying amounts | 110,040 | 110,040 |
Disposals | (36,529) | |
Gross carrying amount [member] | Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 154,093 | 135,064 |
Additions | 4,126 | 19,029 |
Transfer from deposit on mill equipment | ||
Balance | 158,219 | 154,093 |
Carrying amounts | 154,093 | 154,093 |
Disposals | ||
Gross carrying amount [member] | Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 247,199 | 231,451 |
Additions | 1,697 | 15,748 |
Transfer from deposit on mill equipment | ||
Balance | 248,896 | 247,199 |
Carrying amounts | 247,199 | 247,199 |
Disposals | ||
Gross carrying amount [member] | Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 51,760 | 51,760 |
Additions | ||
Transfer from deposit on mill equipment | ||
Balance | 51,760 | 51,760 |
Carrying amounts | 51,760 | 51,760 |
Disposals | ||
Gross carrying amount [member] | Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 245,647 | 245,647 |
Additions | ||
Transfer from deposit on mill equipment | ||
Balance | 245,647 | 245,647 |
Carrying amounts | 245,647 | 245,647 |
Disposals | ||
Gross carrying amount [member] | Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 265,997 | |
Additions | 789,777 | 265,997 |
Transfer from deposit on mill equipment | 12,618,109 | |
Balance | 13,673,883 | 265,997 |
Carrying amounts | 265,997 | 265,997 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 892,007 | 898,502 |
Balance | 920,284 | 892,007 |
Depreciation | 28,277 | 28,274 |
Carrying amounts | 892,007 | 892,007 |
Disposals | (34,769) | |
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 164,211 | 155,024 |
Balance | 172,300 | 164,211 |
Depreciation | 8,089 | 9,187 |
Carrying amounts | 164,211 | 164,211 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 110,040 | 144,559 |
Balance | 110,040 | 110,040 |
Depreciation | 250 | |
Carrying amounts | 110,040 | 110,040 |
Disposals | (34,769) | |
Accumulated depreciation, amortisation and impairment [member] | Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 134,484 | 131,569 |
Balance | 138,928 | 134,484 |
Depreciation | 4,444 | 2,915 |
Carrying amounts | 134,484 | 134,484 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 213,702 | 204,742 |
Balance | 223,878 | 213,702 |
Depreciation | 10,176 | 8,960 |
Carrying amounts | 213,702 | 213,702 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 49,366 | 48,766 |
Balance | 49,845 | 49,366 |
Depreciation | 479 | 600 |
Carrying amounts | 49,366 | 49,366 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 220,204 | 213,842 |
Balance | 225,293 | 220,204 |
Depreciation | 5,089 | 6,362 |
Carrying amounts | 220,204 | 220,204 |
Disposals | ||
Accumulated depreciation, amortisation and impairment [member] | Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | ||
Balance | ||
Depreciation | ||
Carrying amounts | ||
Disposals |
Note 7 - Exploration and Eval_3
Note 7 - Exploration and Evaluation Assets (Details Textual) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2001 | |
Statement Line Items [Line Items] | ||
Nominal value of of property | $ 1 | |
Tuligtic property in Puebla, Mexico [member | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in associate | 100.00% | |
Logan property located in the Yukon Territory, Canada [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in associate | 40.00% |
Note 7 - Exploration and Eval_4
Note 7 - Exploration and Evaluation Assets - Schedule of Exploration and Evaluation Assets (Details) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Line Items [Line Items] | ||
Closing balance | $ 7,537,578 | $ 4,780,571 |
Additions | 1,622,374 | 2,757,007 |
Closing balance | 9,159,952 | 7,537,578 |
Balance | 37,266,620 | 31,204,785 |
Drilling and related costs | 993,311 | 1,053,771 |
Professional/technical fees | 59,038 | 112,191 |
Claim maintenance/lease costs | 145,524 | 160,251 |
Geochemical, metallurgy | 742,157 | 746,103 |
Technical studies | 4,510,034 | 1,698,055 |
Travel and accommodation | 457,968 | 390,927 |
Geology, geophysics and exploration | 568,476 | 795,731 |
Supplies and misc. | 168,725 | 118,015 |
Environmental | 161,671 | 534,081 |
Value-added tax (Note 4) | 444,994 | 444,729 |
Total deferred exploration costs during the period | 8,251,898 | 6,061,835 |
Balance | 45,518,518 | 37,266,620 |
Total exploration and evaluation assets | 54,678,470 | 44,804,198 |
Water exploration | 7,981 | |
Tuligtic [Member] | ||
Statement Line Items [Line Items] | ||
Closing balance | 7,537,577 | 4,780,570 |
Additions | 1,622,374 | 2,757,007 |
Closing balance | 9,159,951 | 7,537,577 |
Balance | 37,266,620 | 31,204,785 |
Drilling and related costs | 993,311 | 1,053,771 |
Professional/technical fees | 59,038 | 112,191 |
Claim maintenance/lease costs | 145,524 | 160,251 |
Geochemical, metallurgy | 742,157 | 746,103 |
Technical studies | 4,510,034 | 1,698,055 |
Travel and accommodation | 457,968 | 390,927 |
Geology, geophysics and exploration | 568,476 | 795,731 |
Supplies and misc. | 168,725 | 118,015 |
Environmental | 161,671 | 534,081 |
Value-added tax (Note 4) | 444,994 | 444,729 |
Total deferred exploration costs during the period | 8,251,898 | 6,061,835 |
Balance | 45,518,518 | 37,266,620 |
Total exploration and evaluation assets | 54,678,469 | 44,804,197 |
Water exploration | 7,981 | |
Other property, plant and equipment [member] | ||
Statement Line Items [Line Items] | ||
Closing balance | 1 | 1 |
Additions | ||
Closing balance | 1 | 1 |
Balance | ||
Drilling and related costs | ||
Professional/technical fees | ||
Claim maintenance/lease costs | ||
Geochemical, metallurgy | ||
Technical studies | ||
Travel and accommodation | ||
Geology, geophysics and exploration | ||
Supplies and misc. | ||
Environmental | ||
Value-added tax (Note 4) | ||
Total deferred exploration costs during the period | ||
Balance | ||
Total exploration and evaluation assets | $ 1 | 1 |
Water exploration |
Note 8 - Share Capital and Re_3
Note 8 - Share Capital and Reserves (Details Textual) | Dec. 11, 2018CAD ($)shares | Jun. 07, 2018CAD ($)$ / sharesshares | Aug. 26, 2017CAD ($) | Jun. 01, 2017CAD ($)$ / sharesshares | Feb. 07, 2017CAD ($)$ / sharesshares | Jan. 06, 2017CAD ($) | Oct. 10, 2016CAD ($)shares | Jul. 14, 2016CAD ($) | May 25, 2016CAD ($)$ / sharesshares | Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($) | ||
Statement Line Items [Line Items] | ||||||||||||||
Issue of equity, private placement, number of units | shares | 9,440,000 | 9,857,800 | 2,519,407 | 3,229,082 | ||||||||||
Weighted average unit price | $ / shares | $ 1 | $ 1.75 | $ 1.35 | $ 1.35 | ||||||||||
Proceeds from issuing units | $ 9,440,000 | $ 17,251,150 | $ 3,401,199 | $ 4,359,260 | ||||||||||
Number of common shares issued per private placement unit | shares | 1 | 1 | 1 | 1 | ||||||||||
Number of warrants issued per private placement unit | shares | 0.5 | 0.5 | 0.5 | 0.5 | ||||||||||
Number of common shares purchasable from a warrant | shares | 1 | 1 | 1 | 1 | ||||||||||
Finders' fee | $ 384,900 | $ 1,035,069 | $ 88,631 | |||||||||||
Share issue related cost | 216,659 | 296,823 | 116,408 | $ 17,282 | $ 203,232 | |||||||||
Weighted average remaining contractual life of outstanding warrants | 2.14 | 1.95 | 1.34 | |||||||||||
Stock options issuance limitations, maximum percentage of allowed issuable options | 10.00% | |||||||||||||
Stock options issuance limitations, maximum percentage of allowed issuable options for services rendered | 2.00% | |||||||||||||
Number of shares authorised | shares | 1,465,672 | |||||||||||||
Stock option limitations, maximum amount of stock options exercisable during a 3 month period | 25.00% | |||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.72 | $ 0.88 | $ 1.08 | |||||||||||
Weighted average remaining contractual life of outstanding share options | 1.24 | 1.33 | 1.13 | |||||||||||
Expense from share-based payment transactions with employees | $ 1,308,740 | $ 2,693,070 | $ 1,869,010 | |||||||||||
Common shares issued in a cashless transaction [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 150,000 | 105,000 | ||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 1.23 | $ 1.37 | ||||||||||||
Total number of shares issued | shares | 63,510 | 532,836 | ||||||||||||
Top of range [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Option life, share options granted | 5 | |||||||||||||
Warrants [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Weighted average share price | 1.35 | 2.45 | 2 | $ 2 | ||||||||||
Finders' warrants [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Weighted average share price | $ 1.35 | $ 2 | $ 1.35 | 1.44 | ||||||||||
Finders' fee | $ 147,925 | |||||||||||||
Maximum number of common shares purchasable from warrants | shares | 192,450 | 295,734 | 17,911 | 45,944 | ||||||||||
Warrants, fair value | $ 36,566 | $ 171,526 | $ 9,165 | $ 17,918 | ||||||||||
Share issue related cost | $ 119,689 | |||||||||||||
Stock options expiring December 11, 2018 [member] | Common shares issued in a cashless transaction [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 552,000 | |||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.72 | |||||||||||||
Total number of shares issued | shares | 64,094 | |||||||||||||
Stock options expiring January 6, 2017 [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,180,000 | [1] | ||||||||||||
Stock options expiring January 6, 2017 [member] | Common shares issued in a cashless transaction [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 350,000 | |||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.98 | |||||||||||||
Stock options expiring August 26, 2017 [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,310,000 | [1] | 135,000 | |||||||||||
Stock options expiring August 26, 2017 [member] | Common shares issued in a cashless transaction [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,150,000 | |||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.74 | |||||||||||||
First set of stock options expiring December 11, 2018 [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 575,000 | [2] | 134,000 | [1] | 32,000 | |||||||||
First set of stock options expiring December 11, 2018 [member] | Common shares issued in a cashless transaction [member] | ||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||
Number of share options exercised in share-based payment arrangement | 92,000 | |||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.72 | |||||||||||||
[1] | In accordance with the Company’s stock option plan, options holders exercised 350,000; 1,150,000 and 92,000 stock options on a cashless basis at an exercise price of $0.98, $0.74 and $0.72, respectively. The total number of shares issued in connection with the cashless exercise of options was 532,836. | |||||||||||||
[2] | In accordance with the Company's stock option plan, options holders exercised 552,000 stock options on a cashless basis at an exercise price of $0.72. The total number of shares issued in connection with the cashless exercise of options was 64,094. |
Note 8 - Share Capital and Re_4
Note 8 - Share Capital and Reserves - Continuity of Warrants (Details) | 12 Months Ended | 36 Months Ended | ||
Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares | Dec. 31, 2018CAD ($) | |
Statement Line Items [Line Items] | ||||
Exercise price | $ 2.27 | $ 2.27 | $ 1.44 | $ 1.91 |
Exercised | (1.01) | (1.55) | ||
Balance, outstanding and exercisable | 8,132,262 | 3,697,152 | 9,109,944 | 9,109,944 |
Issued, outstanding and exercisable (in shares) | shares | 4,912,450 | 6,502,249 | 1,660,485 | |
Exercised, outstanding and exercisable (in shares) | shares | (2,017,139) | (4,627,867) | ||
Expired, outstanding and exercisable (in shares) | shares | (1,637,513) | (50,000) | (2,445,410) | |
Balance, oustanding and exercisable | 11,407,199 | 8,132,262 | 3,697,152 | 11,407,199 |
Balance, weighted average exercise price | $ 2.27 | $ 1.44 | $ 1.47 | $ 1.47 |
Issued, weighted average exercise price | $ 1.35 | $ 2.34 | $ 1.98 | |
Exercised, weighted average exercise price | 1.01 | 1.55 | ||
Expired, weighted average exercise price | $ 1.99 | $ 1 | $ 1.71 | |
Balance, weighted average exercise price | $ 1.91 | $ 2.27 | $ 1.44 | 1.91 |
Granted, outstanding and exercisable (in shares) | shares | 4,912,450 | 6,502,249 | 1,660,485 | |
Granted, weighted average exercise price | $ 1.35 | $ 2.34 | $ 1.98 | |
Warrants expiring November 25, 2018, first set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 2 | $ 2 | $ 2 | $ 2 |
Balance | 1,614,541 | 1,614,541 | ||
Issued | 1,614,541 | |||
Exercised | ||||
Expired | (1,614,541) | |||
Balance | 1,614,541 | 1,614,541 | ||
Balance, weighted average exercise price | $ 2 | $ 2 | ||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 2 | $ 2 | $ 2 | 2 |
Number of warrants | 1,614,541 | |||
Warrants expiring November 17, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1 | $ 1 | ||
Balance | 2,036,667 | |||
Issued | ||||
Exercised | (1,986,667) | |||
Expired | (50,000) | |||
Balance | 2,036,667 | |||
Balance, weighted average exercise price | $ 1 | |||
Exercised, weighted average exercise price | 1,986,667 | |||
Balance, weighted average exercise price | $ 1 | |||
Number of warrants | ||||
Warrants expiring February 11, 2016, first set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.76 | $ 1.76 | 2,210,000 | |
Balance | ||||
Issued | ||||
Exercised | ||||
Expired | (2,210,000) | |||
Balance | ||||
Balance, weighted average exercise price | $ 1.76 | $ 2,210,000 | 2,210,000 | |
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 1.76 | |||
Number of warrants | ||||
Warrants expiring November 25, 2018, second set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.44 | $ 1.44 | $ 1.44 | $ 1.44 |
Balance | 22,972 | 45,944 | ||
Issued | 45,944 | |||
Exercised | (22,972) | |||
Expired | (22,972) | |||
Balance | 22,972 | 45,944 | ||
Balance, weighted average exercise price | $ 1.44 | $ 1.44 | ||
Exercised, weighted average exercise price | 22,972 | |||
Balance, weighted average exercise price | $ 1.44 | $ 1.44 | $ 1.44 | 1.44 |
Number of warrants | 45,944 | |||
Warrants expiring February 11, 2016, second set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.12 | $ 1.12 | 49,410 | |
Balance | ||||
Issued | ||||
Exercised | ||||
Expired | (49,410) | |||
Balance | ||||
Balance, weighted average exercise price | $ 1.12 | $ 49,410 | 49,410 | |
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 1.12 | |||
Number of warrants | ||||
Warrants expiring June 1, 2019 [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 2 | $ 2 | $ 2 | |
Balance | 295,734 | |||
Issued | 295,734 | |||
Exercised | ||||
Expired | ||||
Balance | 295,734 | 295,734 | 295,734 | |
Balance, weighted average exercise price | $ 2 | |||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 2 | $ 2 | $ 2 | |
Number of warrants | 295,734 | |||
Warrants expiring July 17, 2016, first set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.58 | $ 1.58 | 4,376,000 | |
Balance | ||||
Issued | ||||
Exercised | (4,376,000) | |||
Expired | ||||
Balance | ||||
Balance, weighted average exercise price | $ 1.58 | $ 4,376,000 | 4,376,000 | |
Exercised, weighted average exercise price | 4,376,000 | |||
Balance, weighted average exercise price | $ 1.58 | |||
Number of warrants | ||||
Warrants expiring August 7, 2019, first set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 2 | $ 2 | $ 2 | |
Balance | 1,259,704 | |||
Issued | 1,259,704 | |||
Exercised | ||||
Expired | ||||
Balance | 1,259,704 | 1,259,704 | 1,259,704 | |
Balance, weighted average exercise price | $ 2 | |||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 2 | $ 2 | $ 2 | |
Number of warrants | 1,259,704 | |||
Warrants expiring July 17, 2016, second set [Member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.32 | $ 1.32 | 186,000 | |
Balance | ||||
Issued | ||||
Exercised | ||||
Expired | (186,000) | |||
Balance | ||||
Balance, weighted average exercise price | $ 1.32 | $ 186,000 | 186,000 | |
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 1.32 | |||
Number of warrants | ||||
Warrants expiring August 7, 2019, second set [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.35 | $ 1.35 | $ 1.35 | |
Balance | 10,411 | |||
Issued | 17,911 | |||
Exercised | (7,500) | |||
Expired | ||||
Balance | 10,411 | 10,411 | 10,411 | |
Balance, weighted average exercise price | $ 1.35 | |||
Exercised, weighted average exercise price | 7,500 | |||
Balance, weighted average exercise price | $ 1.35 | $ 1.35 | $ 1.35 | |
Number of warrants | 17,911 | |||
Warrants expiring November 17, 2017, first set [Member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1 | $ 1 | 2,253,334 | |
Balance | 2,036,667 | |||
Issued | ||||
Exercised | (216,667) | |||
Expired | ||||
Balance | 2,036,667 | |||
Balance, weighted average exercise price | $ 1 | $ 2,253,334 | 2,253,334 | |
Exercised, weighted average exercise price | 216,667 | |||
Balance, weighted average exercise price | $ 1 | |||
Number of warrants | ||||
Warrants expiring June 1, 2020 [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 2.45 | $ 2.45 | $ 2.45 | |
Balance | 4,928,900 | |||
Issued | 4,928,900 | |||
Exercised | ||||
Expired | ||||
Balance | 4,928,900 | 4,928,900 | 4,928,900 | |
Balance, weighted average exercise price | $ 2.45 | |||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 2.45 | $ 2.45 | $ 2.45 | |
Number of warrants | 4,928,900 | |||
Warrants expiring November 17, 2017, second set [Member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 0.77 | $ 0.77 | 35,200 | |
Balance | ||||
Issued | ||||
Exercised | (35,200) | |||
Expired | ||||
Balance | ||||
Balance, weighted average exercise price | $ 0.77 | $ 35,200 | 35,200 | |
Exercised, weighted average exercise price | 35,200 | |||
Balance, weighted average exercise price | $ 0.77 | |||
Number of warrants | ||||
Warrants expiring June 7, 2020 [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.35 | $ 1.35 | ||
Balance | ||||
Issued | 192,450 | |||
Exercised | ||||
Expired | ||||
Balance | 192,450 | 192,450 | ||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 1.35 | $ 1.35 | ||
Number of warrants | 192,450 | |||
Warrants expiring June 7, 2022 [member] | ||||
Statement Line Items [Line Items] | ||||
Exercise price | $ 1.35 | $ 1.35 | ||
Balance | ||||
Issued | 4,720,000 | |||
Exercised | ||||
Expired | ||||
Balance | 4,720,000 | 4,720,000 | ||
Exercised, weighted average exercise price | ||||
Balance, weighted average exercise price | $ 1.35 | $ 1.35 | ||
Number of warrants | 4,720,000 |
Note 8 - Share Capital and Re_5
Note 8 - Share Capital and Reserves - Warrant Fair Value Assumptions (Details) | 36 Months Ended |
Dec. 31, 2018CAD ($) | |
Warrants issued on June 7, 2018 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 192,450 |
Fair value per share | $ 0.19 |
Risk free interest rate | 1.94% |
Expected life (Year) | 2 years |
Expected volatility | 54.02% |
Expected dividends | |
Warrants issued on June 1, 2017 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 295,734 |
Fair value per share | $ 0.58 |
Risk free interest rate | 0.71% |
Expected life (Year) | 2 years |
Expected volatility | 66.26% |
Expected dividends | |
Warrants issued on February 7, 2017 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 17,911 |
Fair value per share | $ 0.51 |
Risk free interest rate | 0.72% |
Expected life (Year) | 2 years 182 days |
Expected volatility | 61.54% |
Expected dividends | |
Warrants issued on May 25, 2016 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 45,944 |
Fair value per share | $ 0.39 |
Risk free interest rate | 0.59% |
Expected life (Year) | 2 years |
Expected volatility | 55.53% |
Expected dividends |
Note 8 - Share Capital and Re_6
Note 8 - Share Capital and Reserves - Schedule of Share Options (Details) | 12 Months Ended | |||||
Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares | ||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.39 | $ 1.39 | $ 1.29 | |||
Stock options, balance, outstanding and exercisable (in shares) | shares | 9,290,000 | 7,850,000 | 7,761,000 | |||
Stock options, granted, outstanding and exercisable (in shares) | shares | 4,308,000 | 4,914,000 | 2,921,000 | |||
Stock options, exercised, outstanding and exercisable (in shares) | shares | (575,000) | (2,699,000) | (437,000) | |||
Stock options expired/cancelled, outstanding and exercisable (in shares) | shares | (3,316,000) | (775,000) | (2,395,000) | |||
Stock options balance, outstanding and exercisable (in shares) | shares | 9,707,000 | 9,290,000 | 7,850,000 | |||
Stock options, balance, weighted average exercise price | $ 1.39 | $ 1.29 | $ 1.65 | |||
Weighted average exercise price | 0.97 | 1.39 | 1.55 | |||
Stock options, exercised, weighted average exercise price | 0.72 | 0.88 | 1.08 | |||
Stock options expired/cancelled, weighted average exercise price | 1.54 | 2.21 | 2.81 | |||
Stock options balance, weighted average exercise price | 1.19 | 1.39 | 1.29 | |||
Stock options expiring April 4, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.74 | $ 1.74 | $ 1.74 | |||
Stock options, balance | 90,000 | 90,000 | 90,000 | |||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (90,000) | |||||
Stock options, balance | 90,000 | 90,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.74 | $ 1.74 | ||||
Stock options balance, weighted average exercise price | 1.74 | 1.74 | $ 1.74 | |||
Stock options expiring January 6, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.98 | $ 0.98 | $ 0.98 | |||
Stock options, balance | 1,180,000 | 1,180,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | (1,180,000) | [1] | ||||
Stock options expired/cancelled | ||||||
Stock options, balance | 1,180,000 | |||||
Stock options, balance, weighted average exercise price | $ 0.98 | $ 0.98 | ||||
Stock options balance, weighted average exercise price | 0.98 | $ 0.98 | ||||
Stock options expiring May 6, 2016 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.33 | $ 1.33 | ||||
Stock options, balance | 65,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (65,000) | |||||
Stock options, balance | ||||||
Stock options, balance, weighted average exercise price | $ 1.33 | |||||
Stock options balance, weighted average exercise price | $ 1.33 | |||||
Stock options expiring May 6, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.41 | $ 1.41 | $ 1.41 | |||
Stock options, balance | 100,000 | 100,000 | ||||
Stock options, granted | 100,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (100,000) | |||||
Stock options, balance | 100,000 | 100,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.41 | $ 1.41 | ||||
Stock options balance, weighted average exercise price | 1.41 | 1.41 | $ 1.41 | |||
Stock options granted May 4, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | ||||
Stock options, balance | 175,000 | |||||
Stock options, granted | 175,000 | |||||
Stock options, exercised | (75,000) | |||||
Stock options expired/cancelled | (100,000) | |||||
Stock options, balance | 175,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.91 | |||||
Stock options balance, weighted average exercise price | $ 1.91 | |||||
Stock options expiring June 8, 2016 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 2.89 | $ 2.89 | ||||
Stock options, balance | 2,145,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (2,145,000) | |||||
Stock options, balance | ||||||
Stock options, balance, weighted average exercise price | $ 2.89 | |||||
Stock options balance, weighted average exercise price | $ 2.89 | |||||
Stock options expiring June 8, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.44 | $ 1.44 | $ 1.44 | |||
Stock options, balance | 1,915,000 | 1,915,000 | ||||
Stock options, granted | 1,915,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (1,915,000) | |||||
Stock options, balance | 1,915,000 | 1,915,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.44 | $ 1.44 | ||||
Stock options balance, weighted average exercise price | 1.44 | 1.44 | $ 1.44 | |||
Stock options expiring June 8, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.98 | $ 1.98 | $ 1.98 | |||
Stock options, balance | 75,000 | 75,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (75,000) | |||||
Stock options, balance | 75,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.98 | $ 1.98 | ||||
Stock options balance, weighted average exercise price | 1.98 | $ 1.98 | ||||
Stock options expiring July 14, 2016 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.37 | $ 1.37 | ||||
Stock options, balance | 130,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | [2] | (120,000) | ||||
Stock options expired/cancelled | (10,000) | |||||
Stock options, balance | ||||||
Stock options, balance, weighted average exercise price | $ 1.37 | |||||
Stock options balance, weighted average exercise price | $ 1.37 | |||||
Stock options expiring June 18, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.46 | $ 1.46 | $ 1.46 | |||
Stock options, balance | 250,000 | 250,000 | 250,000 | |||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (250,000) | |||||
Stock options, balance | 250,000 | 250,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.46 | $ 1.46 | ||||
Stock options balance, weighted average exercise price | 1.46 | 1.46 | $ 1.46 | |||
Stock options expiring August 26, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.74 | $ 0.74 | $ 0.74 | |||
Stock options, balance | 1,310,000 | 1,445,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | (1,310,000) | [1] | (135,000) | |||
Stock options expired/cancelled | ||||||
Stock options, balance | 1,310,000 | |||||
Stock options, balance, weighted average exercise price | $ 0.74 | $ 0.74 | ||||
Stock options balance, weighted average exercise price | 0.74 | $ 0.74 | ||||
Stock options expiring August 15, 2016 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 2.57 | $ 2.57 | ||||
Stock options, balance | 150,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (150,000) | |||||
Stock options, balance | ||||||
Stock options, balance, weighted average exercise price | $ 2.57 | |||||
Stock options balance, weighted average exercise price | $ 2.57 | |||||
Stock options expiring June 29, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.71 | $ 1.71 | $ 1.71 | |||
Stock options, balance | 15,000 | 15,000 | ||||
Stock options, granted | 15,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (15,000) | |||||
Stock options, balance | 15,000 | 15,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.71 | $ 1.71 | ||||
Stock options balance, weighted average exercise price | 1.71 | 1.71 | $ 1.71 | |||
Stock options expiring September 11, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 2.31 | $ 2.31 | $ 2.31 | |||
Stock options, balance | 500,000 | 500,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (500,000) | |||||
Stock options, balance | 500,000 | |||||
Stock options, balance, weighted average exercise price | $ 2.31 | $ 2.31 | ||||
Stock options balance, weighted average exercise price | 2.31 | $ 2.31 | ||||
Stock options expiring October 10, 2016 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.23 | $ 1.23 | ||||
Stock options, balance | 150,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | [2] | (150,000) | ||||
Stock options expired/cancelled | ||||||
Stock options, balance | ||||||
Stock options, balance, weighted average exercise price | $ 1.23 | |||||
Stock options balance, weighted average exercise price | $ 1.23 | |||||
Stock options expiring August 9, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | $ 1.91 | |||
Stock options, balance | 491,000 | 491,000 | ||||
Stock options, granted | 491,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (491,000) | |||||
Stock options, balance | 491,000 | 491,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.91 | $ 1.91 | ||||
Stock options balance, weighted average exercise price | 1.91 | 1.91 | $ 1.91 | |||
Stock options expiring November 22, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 2.22 | $ 2.22 | $ 2.22 | |||
Stock options, balance | 100,000 | 100,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (100,000) | |||||
Stock options, balance | 100,000 | |||||
Stock options, balance, weighted average exercise price | $ 2.22 | $ 2.22 | ||||
Stock options balance, weighted average exercise price | 2.22 | $ 2.22 | ||||
Stock options expiring September 15, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.85 | $ 1.85 | $ 1.85 | |||
Stock options, balance | 170,000 | 170,000 | ||||
Stock options, granted | 170,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (170,000) | |||||
Stock options, balance | 170,000 | 170,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.85 | $ 1.85 | ||||
Stock options balance, weighted average exercise price | 1.85 | 1.85 | $ 1.85 | |||
Stock options expiring May 4, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | ||||
Stock options, balance | 175,000 | 200,000 | ||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (25,000) | |||||
Stock options, balance | 175,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.91 | |||||
Stock options balance, weighted average exercise price | $ 1.91 | |||||
First set of stock options expiring December 11, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.72 | $ 0.72 | $ 0.72 | |||
Stock options, balance | 590,000 | 724,000 | 756,000 | |||
Stock options, granted | ||||||
Stock options, exercised | (575,000) | [3] | (134,000) | [1] | (32,000) | |
Stock options expired/cancelled | (15,000) | |||||
Stock options, balance | 590,000 | 724,000 | ||||
Stock options, balance, weighted average exercise price | $ 0.72 | $ 0.72 | ||||
Stock options balance, weighted average exercise price | 0.72 | 0.72 | $ 0.72 | |||
Second set of stock options expiring December 11, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.68 | $ 1.68 | $ 1.68 | |||
Stock options, balance | 150,000 | 150,000 | ||||
Stock options, granted | 150,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (150,000) | |||||
Stock options, balance | 150,000 | 150,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.68 | $ 1.68 | ||||
Stock options balance, weighted average exercise price | 1.68 | 1.68 | $ 1.68 | |||
Third set of stock options expiring December 11, 2018 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.80 | $ 1.80 | $ 1.80 | |||
Stock options, balance | 20,000 | 20,000 | ||||
Stock options, granted | 20,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (20,000) | |||||
Stock options, balance | 20,000 | 20,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.80 | $ 1.80 | ||||
Stock options balance, weighted average exercise price | 1.80 | 1.80 | $ 1.80 | |||
Stock options expiring January 2, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.04 | $ 1.04 | $ 1.04 | |||
Stock options, balance | 375,000 | 375,000 | 375,000 | |||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 375,000 | 375,000 | 375,000 | |||
Stock options, balance, weighted average exercise price | $ 1.04 | $ 1.04 | ||||
Stock options balance, weighted average exercise price | 1.04 | 1.04 | $ 1.04 | |||
Stock options expiring March 17, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.35 | $ 1.35 | ||||
Stock options, balance | 207,000 | |||||
Stock options, granted | 207,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 207,000 | 207,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.35 | |||||
Stock options balance, weighted average exercise price | 1.35 | $ 1.35 | ||||
Stock options expiring May 4, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.99 | $ 1.99 | ||||
Stock options, balance | 175,000 | |||||
Stock options, granted | 175,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 175,000 | 175,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.99 | |||||
Stock options balance, weighted average exercise price | 1.99 | $ 1.99 | ||||
Stock options expiring May 19, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.84 | $ 1.84 | ||||
Stock options, balance | 75,000 | |||||
Stock options, granted | 75,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 75,000 | 75,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.84 | |||||
Stock options balance, weighted average exercise price | 1.84 | $ 1.84 | ||||
Stock options expiring June 12, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.89 | $ 1.89 | ||||
Stock options, balance | 75,000 | |||||
Stock options, granted | 75,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 75,000 | 75,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.89 | |||||
Stock options balance, weighted average exercise price | 1.89 | $ 1.89 | ||||
First set of stock options expiring July 2, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.32 | $ 1.32 | $ 1.32 | |||
Stock options, balance | 150,000 | 150,000 | 150,000 | |||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 150,000 | 150,000 | 150,000 | |||
Stock options, balance, weighted average exercise price | $ 1.32 | $ 1.32 | ||||
Stock options balance, weighted average exercise price | 1.32 | 1.32 | $ 1.32 | |||
Second set of stock options expiring July 2, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.19 | $ 1.19 | $ 1.19 | |||
Stock options, balance | 60,000 | 60,000 | ||||
Stock options, granted | 60,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 60,000 | 60,000 | 60,000 | |||
Stock options, balance, weighted average exercise price | $ 1.19 | $ 1.19 | ||||
Stock options balance, weighted average exercise price | 1.19 | 1.19 | $ 1.19 | |||
Third set of stock options expiring July 2, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.34 | $ 1.34 | ||||
Stock options, balance | 1,427,000 | |||||
Stock options, granted | 1,427,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 1,427,000 | 1,427,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.34 | |||||
Stock options balance, weighted average exercise price | 1.34 | $ 1.34 | ||||
Stock options expiring September 19, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.40 | $ 1.40 | ||||
Stock options, balance | 1,160,000 | |||||
Stock options, granted | 1,160,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 1,160,000 | 1,160,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.40 | |||||
Stock options balance, weighted average exercise price | 1.40 | $ 1.40 | ||||
Stock options expiring April 10, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.03 | |||||
Stock options, balance | ||||||
Stock options, granted | 90,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 90,000 | |||||
Stock options balance, weighted average exercise price | $ 1.03 | |||||
First set of stock options expiring April 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.53 | $ 1.53 | ||||
Stock options, balance | 500,000 | |||||
Stock options, granted | 500,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 500,000 | 500,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.53 | |||||
Stock options balance, weighted average exercise price | 1.53 | $ 1.53 | ||||
Second set of stock options expiring April 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.14 | $ 1.14 | ||||
Stock options, balance | 100,000 | |||||
Stock options, granted | 100,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 100,000 | 100,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.14 | |||||
Stock options balance, weighted average exercise price | 1.14 | $ 1.14 | ||||
Third set of stock options expiring April 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.04 | |||||
Stock options, balance | ||||||
Stock options, granted | 100,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 100,000 | |||||
Stock options balance, weighted average exercise price | $ 1.04 | |||||
Stock options expiring June 8, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.98 | |||||
Stock options, balance | ||||||
Stock options, granted | 2,180,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 2,180,000 | |||||
Stock options balance, weighted average exercise price | $ 0.98 | |||||
First set of stock options expiring September 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.25 | |||||
Stock options, balance | 1,195,000 | |||||
Stock options, granted | ||||||
Stock options, exercised | ||||||
Stock options expired/cancelled | (100,000) | |||||
Stock options, balance | 1,095,000 | 1,195,000 | ||||
Stock options balance, weighted average exercise price | $ 1.25 | |||||
Second set of stock options expiring September 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.83 | |||||
Stock options, balance | ||||||
Stock options, granted | 106,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 106,000 | |||||
Stock options balance, weighted average exercise price | $ 0.83 | |||||
Third set of stock options expiring September 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.79 | |||||
Stock options, balance | ||||||
Stock options, granted | 170,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 170,000 | |||||
Stock options balance, weighted average exercise price | $ 0.79 | |||||
Stock options expiring December 13, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 0.86 | |||||
Stock options, balance | ||||||
Stock options, granted | 762,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 762,000 | |||||
Stock options balance, weighted average exercise price | $ 0.86 | |||||
Stock options expiring September 30, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.25 | $ 1.25 | ||||
Stock options, balance | 1,195,000 | |||||
Stock options, granted | 1,195,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 1,195,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.25 | |||||
Stock options balance, weighted average exercise price | $ 1.25 | |||||
Stock options expiring February 7, 2021 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.11 | |||||
Stock options, balance | ||||||
Stock options, granted | 300,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 300,000 | |||||
Stock options balance, weighted average exercise price | $ 1.11 | |||||
Stock options expiring March 29, 2021 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1.08 | |||||
Stock options, balance | ||||||
Stock options, granted | 400,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 400,000 | |||||
Stock options balance, weighted average exercise price | $ 1.08 | |||||
Stock options expiring December 12, 2021 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Stock Options, exercise price | $ 1 | |||||
Stock options, balance | ||||||
Stock options, granted | 200,000 | |||||
Stock options, exercised | ||||||
Stock options expired/cancelled | ||||||
Stock options, balance | 200,000 | |||||
Stock options balance, weighted average exercise price | $ 1 | |||||
[1] | In accordance with the Company’s stock option plan, options holders exercised 350,000; 1,150,000 and 92,000 stock options on a cashless basis at an exercise price of $0.98, $0.74 and $0.72, respectively. The total number of shares issued in connection with the cashless exercise of options was 532,836. | |||||
[2] | In accordance with the Company’s stock option plan, options holders exercised 105,000 and 150,000 stock options on a cashless basis at an exercise price of $1.37 and $1.23. The total number of shares issued in connection with the cashless exercise of options was 63,510. | |||||
[3] | In accordance with the Company's stock option plan, options holders exercised 552,000 stock options on a cashless basis at an exercise price of $0.72. The total number of shares issued in connection with the cashless exercise of options was 64,094. |
Note 8 - Share Capital and Re_7
Note 8 - Share Capital and Reserves - Share Option Fair Value Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2018CAD ($) | Dec. 31, 2017 | |
Stock options granted December 13, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 762,000 | |
Fair value per share, stock options | $ 0.24 | |
Risk free interest rate, stock options | 1.89% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 49.38% | |
Expected dividends, stock options | ||
Stock options granted December 12, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 200,000 | |
Fair value per share, stock options | $ 0.28 | |
Risk free interest rate, stock options | 2.06% | |
Expected life, stock options | 3 | |
Expected volatility, stock options | 49.50% | |
Expected dividends, stock options | ||
Stock options granted September 26, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 170,000 | |
Fair value per share, stock options | $ 0.25 | |
Risk free interest rate, stock options | 2.19% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 47.93% | |
Expected dividends, stock options | ||
Stock options granted August 15, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 106,000 | |
Fair value per share, stock options | $ 0.21 | |
Risk free interest rate, stock options | 2.09% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 48.39% | |
Expected dividends, stock options | ||
Stock options granted June 18, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 2,180,000 | |
Fair value per share, stock options | $ 0.29 | |
Risk free interest rate, stock options | 1.85% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 51.53% | |
Expected dividends, stock options | ||
Stock options granted May 7, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 100,000 | |
Fair value per share, stock options | $ 0.33 | |
Risk free interest rate, stock options | 1.95% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 55.21% | |
Expected dividends, stock options | ||
Stock options granted April 10, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 90,000 | |
Fair value per share, stock options | $ 0.31 | |
Risk free interest rate, stock options | 1.85% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 55.18% | |
Expected dividends, stock options | ||
Stock options granted March 29, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 400,000 | |
Fair value per share, stock options | $ 0.42 | |
Risk free interest rate, stock options | 1.94% | |
Expected life, stock options | 3 | |
Expected volatility, stock options | 55.10% | |
Expected dividends, stock options | ||
Stock options granted February 7, 2018 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 300,000 | |
Fair value per share, stock options | $ 0.48 | |
Risk free interest rate, stock options | 1.99% | |
Expected life, stock options | 3 | |
Expected volatility, stock options | 64.14% | |
Expected dividends, stock options | ||
Stock options granted December 22, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 1,195,000 | |
Fair value per share, stock options | $ 0.62 | |
Risk free interest rate, stock options | 1.71% | |
Expected life, stock options | 3 | |
Expected volatility, stock options | 65.20% | |
Expected dividends, stock options | ||
Stock options granted November 23, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 100,000 | |
Fair value per share, stock options | $ 0.50 | |
Risk free interest rate, stock options | 1.46% | |
Expected life, stock options | 3 | |
Expected volatility, stock options | 63.93% | |
Expected dividends, stock options | ||
Stock options granted September 12, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 500,000 | |
Fair value per share, stock options | $ 0.55 | |
Risk free interest rate, stock options | 1.59% | |
Expected life, stock options | 2.5 | |
Expected volatility, stock options | 63.12% | |
Expected dividends, stock options | ||
Stock options granted August 25, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 1,160,000 | |
Fair value per share, stock options | $ 0.48 | |
Risk free interest rate, stock options | 1.24% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 62.80% | |
Expected dividends, stock options | ||
Stock options granted June 12, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 75,000 | |
Fair value per share, stock options | $ 0.63 | |
Risk free interest rate, stock options | 0.88% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 65.95% | |
Expected dividends, stock options | ||
Stock options granted May 19, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 75,000 | |
Fair value per share, stock options | $ 0.60 | |
Risk free interest rate, stock options | 0.72% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 65.65% | |
Expected dividends, stock options | ||
Stock options granted May 4, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 175,000 | |
Fair value per share, stock options | $ 0.63 | |
Risk free interest rate, stock options | 0.71% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 65.77% | |
Expected dividends, stock options | ||
Stock options granted March 17, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 207,000 | |
Fair value per share, stock options | $ 0.47 | |
Risk free interest rate, stock options | 0.80% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 61.28% | |
Expected dividends, stock options | ||
Stock options granted January 11, 2017 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 1,427,000 | |
Fair value per share, stock options | $ 0.54 | |
Risk free interest rate, stock options | 0.75% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 68.94% | |
Expected dividends, stock options | ||
Stock options granted December 21, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 60,000 | |
Fair value per share, stock options | $ 0.42 | |
Risk free interest rate, stock options | 0.83% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 70.18% | |
Expected dividends, stock options | ||
Stock options granted November 2, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 20,000 | |
Fair value per share, stock options | $ 0.69 | |
Risk free interest rate, stock options | 0.54% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 68.31% | |
Expected dividends, stock options | ||
Stock options granted October 6, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 150,000 | |
Fair value per share, stock options | $ 0.57 | |
Risk free interest rate, stock options | 0.60% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 68.47% | |
Expected dividends, stock options | ||
Stock options granted September 15, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 170,000 | |
Fair value per share, stock options | $ 0.70 | |
Risk free interest rate, stock options | 0.58% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 68.08% | |
Expected dividends, stock options | ||
Stock options granted August 9, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 491,000 | |
Fair value per share, stock options | $ 0.76 | |
Risk free interest rate, stock options | 0.50% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 67.52% | |
Expected dividends, stock options | ||
Stock options granted June 29, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 15,000 | |
Fair value per share, stock options | $ 0.87 | |
Risk free interest rate, stock options | 0.54% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 66.44% | |
Expected dividends, stock options | ||
Stock options granted June 8, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 1,915,000 | |
Fair value per share, stock options | $ 0.62 | |
Risk free interest rate, stock options | 0.54% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 64.68% | |
Expected dividends, stock options | ||
Stock options granted May 6, 2016 [member] | ||
Statement Line Items [Line Items] | ||
Stock options, granted | 100,000 | |
Fair value per share, stock options | $ 0.52 | |
Risk free interest rate, stock options | 0.54% | |
Expected life, stock options | 2 | |
Expected volatility, stock options | 63.84% | |
Expected dividends, stock options |
Note 9 - Related Party Transa_3
Note 9 - Related Party Transactions and Balances (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | |||
Payments to related party services | $ 2,112,619 | $ 3,099,570 | $ 2,333,535 |
Almadex [member] | |||
Statement Line Items [Line Items] | |||
Administrative income from fees incurred during spin off | 542,657 | 499,798 | 464,498 |
Amounts receivable, related party transactions | 116,268 | 0 | |
Almadex [member] | Drill equipment [member] | |||
Statement Line Items [Line Items] | |||
Outstanding commitments made on behalf of entity, related party transactions | 37,533 | 153,038 | |
Company controlled by a director [member] | |||
Statement Line Items [Line Items] | |||
Payments to related party services | 243,260 | 0 | 0 |
Azucar [member] | |||
Statement Line Items [Line Items] | |||
Amounts receivable, related party transactions | 170,181 | 195,551 | |
Chairman's daughter [member] | |||
Statement Line Items [Line Items] | |||
Related party, salary contracted | $ 48,800 | $ 43,800 | $ 38,800 |
Note 9 - Related Party Transa_4
Note 9 - Related Party Transactions and Balances - Schedule of Related Party Payments (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | |||
Salaries and benefits | $ 952,079 | $ 813,400 | $ 755,475 |
Share-based payments | 1,090,540 | 2,216,170 | 1,537,060 |
Directors’ fees | 70,000 | 70,000 | 41,000 |
Total | $ 2,112,619 | $ 3,099,570 | $ 2,333,535 |
Note 10 - Net Loss Per Share (D
Note 10 - Net Loss Per Share (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | |||
Profit (loss) from continuing operations | $ (3,511,667) | $ (5,231,295) | $ (4,023,504) |
Weighted average number of ordinary shares outstanding | 107,584,263 | 95,873,417 | 82,322,754 |
Note 11 - Supplemental Cash F_3
Note 11 - Supplemental Cash Flow Information - Schedule of Cash Flow Information (Details) - CAD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | ||||
Exploration and evaluation assets expenditures included in trade and other payables | $ 694,167 | $ 493,943 | $ 535,254 | |
Fair value of finders’ warrants | 36,566 | 180,691 | 17,918 | |
Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants | ||||
Fair value of cash stock options transferred to share capital on exercise of options | 6,670 | 496,859 | 43,180 | |
Fair value of cashless stock options transferred to share capital on exercise of options | ||||
Cash | 2,580,580 | 1,449,184 | ||
Term Deposits | 2,500,000 | 14,885,350 | ||
Total cash and cash equivalents | 5,080,580 | 16,334,534 | 9,770,006 | $ 6,222,778 |
Issued capital [member] | ||||
Statement Line Items [Line Items] | ||||
Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants | 12,797 | 5,984 | ||
Fair value of cashless stock options transferred to share capital on exercise of options | $ 160,080 | $ 387,930 | $ 108,300 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | |||
Applicable tax rate | 27.00% | 26.00% | 26.00% |
CANADA | |||
Statement Line Items [Line Items] | |||
Operating loss carryforwards | $ 17,858,501 | $ 15,706,045 | |
MEXICO | |||
Statement Line Items [Line Items] | |||
Operating loss carryforwards | $ 15,173,872 | $ 16,378,174 | |
British Columbia [member] | |||
Statement Line Items [Line Items] | |||
Applicable tax rate | 12.00% | 11.00% | |
Federal and Provincial British Columbia [member] | |||
Statement Line Items [Line Items] | |||
Applicable tax rate | 27.00% | 26.00% |
Note 12 - Income Taxes - Schedu
Note 12 - Income Taxes - Schedule of Deferred Income Taxes (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | |||
Loss before income taxes | $ (3,511,667) | $ (5,231,295) | $ (4,023,504) |
Statutory rate | 27.00% | 26.00% | 26.00% |
Expected income tax | $ (948,150) | $ (1,360,137) | $ (1,046,111) |
Effect of different tax rates in foreign jurisdictions | (38,010) | 9,728 | 343 |
Non-deductible share-based payments | 353,360 | 700,198 | 485,943 |
Other permanent items | 2,766 | 3,360 | 2,022 |
Change in deferred tax assets not recognized | 151,738 | 1,921,226 | 3,518,776 |
Impact of change in tax rates | (348,020) | ||
Impact of change in expected manner of recovery | 853,274 | ||
Share issuance costs | (172,294) | (399,602) | (39,241) |
True-ups and other | 650,590 | (526,753) | (3,775,006) |
Deferred income tax (recovery) expenses |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | ||
Non-capital losses | $ 4,282,555 | $ 4,282,555 |
Exploration and evaluation assets | (5,717,437) | (5,717,437) |
Net deferred tax liabilities | $ (1,434,882) | $ (1,434,882) |
Note 12 - Income Taxes - Deduct
Note 12 - Income Taxes - Deductible Temporary Differences (Details) - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | ||
Deductible temporary differences | $ 53,796,637 | $ 53,099,667 |
Non-capital loss carry forwards [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 18,758,080 | 17,803,193 |
Capital loss carry forwards [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 24,538,993 | 24,538,993 |
Exploration and evaluation assets deductible differences [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 8,221,842 | 8,221,842 |
Share issue costs [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 1,554,264 | 1,778,234 |
Property, plant and equipment deductible temporary differences [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 483,609 | 10,127 |
Cumulative eligible capital deduction [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 507,429 | |
Investment tax credit [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | $ 239,849 | $ 239,849 |
Note 13 - Commitments - Remaini
Note 13 - Commitments - Remaining Payments Due (Details) | Dec. 31, 2018CAD ($) |
Statement Line Items [Line Items] | |
Office lease | $ 611,638 |
Not later than one year [member] | |
Statement Line Items [Line Items] | |
Office lease | 179,706 |
Later than one year and not later than two years [member] | |
Statement Line Items [Line Items] | |
Office lease | 191,512 |
Later than two years and not later than three years [member] | |
Statement Line Items [Line Items] | |
Office lease | 192,336 |
Later than three years and not later than four years [member] | |
Statement Line Items [Line Items] | |
Office lease | 48,084 |
Later than four years and not later than five years [member] | |
Statement Line Items [Line Items] | |
Office lease |
Note 14 - Financial Instrumen_3
Note 14 - Financial Instruments (Details Textual) | 12 Months Ended |
Dec. 31, 2018CAD ($) | |
Statement Line Items [Line Items] | |
Possible effect of 10% change in exchange rate regarding the USD to the net income (loss) | $ 47,000 |
Possible effect of 10% change in exchange rate regarding the MXN to the net income (loss) | 25,000 |
Possible effect of 1% change in the interest rate to the net income (loss) | $ 51,000 |
Note 14 - Financial Instrumen_4
Note 14 - Financial Instruments - Assets and Liabilities (Details) - Dec. 31, 2018 | USD ($) | MXN ($) |
Statement Line Items [Line Items] | ||
Financial assets | $ 1,004,652 | $ 293,607 |
Financial liabilities | 531,083 | 40,373 |
Net assets | 473,569 | 253,234 |
Financial liabilities at amortised cost, category [member] | Trade and other payables [member] | ||
Statement Line Items [Line Items] | ||
Financial liabilities | 531,083 | 40,373 |
Loans and receivables, category [member] | Cash and cash equivalents [member] | ||
Statement Line Items [Line Items] | ||
Financial assets | 1,004,652 | 293,525 |
Loans and receivables, category [member] | Trade receivables [member] | ||
Statement Line Items [Line Items] | ||
Financial assets | $ 82 |
Note 15 - Management of Capit_2
Note 15 - Management of Capital (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2018CAD ($) | |
Statement Line Items [Line Items] | |
Dividends recognised as distributions to owners | $ 0 |
Note 16 - Segmented Informati_3
Note 16 - Segmented Information (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Statement Line Items [Line Items] | |
Number of reportable segments | 1 |
Note 16 - Segmented Informati_4
Note 16 - Segmented Information - Schedule of Non-current Assets (Details) - CAD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Statement Line Items [Line Items] | ||
Non-current assets | $ 68,443,398 | $ 50,099,699 |
CANADA | ||
Statement Line Items [Line Items] | ||
Non-current assets | 86,372 | 120,803 |
UNITED STATES | ||
Statement Line Items [Line Items] | ||
Non-current assets | 13,673,883 | 5,168,856 |
MEXICO | ||
Statement Line Items [Line Items] | ||
Non-current assets | $ 54,683,143 | $ 44,810,040 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) | Mar. 01, 2019CAD ($) | Jan. 03, 2019CAD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) |
Statement Line Items [Line Items] | ||||||
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 1.19 | $ 1.39 | $ 1.29 | $ 1.65 | ||
Potential ordinary share transactions [member] | ||||||
Statement Line Items [Line Items] | ||||||
Number of share options granted in share-based payment arrangement | 100,000 | |||||
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 0.90 | |||||
Consultant, officers, and directors [member] | Major stock option transactions [member] | ||||||
Statement Line Items [Line Items] | ||||||
Number of share options granted in share-based payment arrangement | 425,000 | |||||
Fair value exercise price of share options granted in share-based payment arrangment | $ 0.84 |