Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document Information [Line Items] | |
Document Type | 40-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | ALEXCO RESOURCE CORP |
Entity Central Index Key | 1,364,128 |
Current Fiscal Year End Date | --12-31 |
Entity Current Reporting Status | Yes |
Entity Common Stock, Shares Outstanding | 101,607,752 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 17,906 | $ 20,382 |
Accounts and other receivables | 2,086 | 2,938 |
Restricted cash and deposits | 499 | 0 |
Investments | 728 | 1,691 |
Inventories | 646 | 151 |
Prepaid expenses and other | 538 | 401 |
Current assets | 22,403 | 25,563 |
Non-Current Assets | ||
Restricted cash and deposits | 6,593 | 6,948 |
Investments | 1,027 | 0 |
Inventories | 4,743 | 5,110 |
Property, plant and equipment | 14,139 | 13,967 |
Mineral properties | 74,816 | 65,849 |
Intangible assets | 115 | 195 |
Total Assets | 123,836 | 117,632 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 3,601 | 1,832 |
Environmental services contract loss provision | 25 | 121 |
Deferred revenue | 87 | 167 |
Flow-through share premium pending renunciation | 276 | 0 |
Current Liabilities | 3,989 | 2,120 |
Non-Current Liabilities | ||
Environmental services contract loss provision | 101 | 156 |
Deferred revenue | 109 | 170 |
Silver streaming interest | 11,518 | 18,118 |
Decommissioning and rehabilitation provision | 5,055 | 4,955 |
Deferred income tax liabilities, net | 3,004 | 1,440 |
Total Liabilities | 23,776 | 26,959 |
Shareholders' Equity | 100,060 | 90,673 |
Total Liabilities and Shareholders' Equity | $ 123,836 | $ 117,632 |
CONSOLIDATED STATEMENTS OF LOSS
CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Revenues | |||
Environmental Services Revenue | $ 10,732 | $ 11,361 | |
Cost of Sales | |||
Environmental Services Costs | 6,732 | 8,495 | |
Total gross profit | 4,000 | 2,866 | |
General and administrative expenses | 10,942 | 7,514 | |
Mine site care and maintenance | 1,723 | 1,954 | |
Operating expense | 12,448 | 9,468 | |
Operating Loss | (8,665) | (6,602) | |
Other Income (Expenses) | |||
Other income and finance costs | 184 | 30 | |
Gain on investments | 1,341 | 2,742 | |
Foreign exchange (loss) gain | 964 | (137) | |
Loss Before Taxes | [1] | (6,176) | (3,967) |
Income Tax Provision | |||
Current | 0 | 2 | |
Deferred | 1,472 | 390 | |
Net Loss | (7,648) | (4,359) | |
Other Comprehensive Income (Loss) | |||
Cumulative translation adjustments, net of tax | (564) | 24 | |
Unrealized gain on available-for-sale investments, net of tax | 241 | 1,530 | |
Recycle of gain on available-for-sale to income, net of tax | (344) | (1,306) | |
Other Comprehensive Income (Loss) | (667) | 248 | |
Total Comprehensive Loss | $ (8,315) | $ (4,111) | |
Basic and diluted loss per common share | $ (0.08) | $ (0.05) | |
Weighted average number of common shares outstanding | 98,486,437 | 86,475,882 | |
[1] | Represents consolidated loss before taxes. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows used in Operating Activities | ||
Net loss | $ (7,648) | $ (4,359) |
Items not affecting cash from operations: | ||
Deferred revenue | (142) | (382) |
Environmental services contract loss provision | (152) | (49) |
Depreciation of property, plant and equipment | 1,558 | 1,964 |
Amortization of intangible assets | 76 | 112 |
Share-based compensation expense | 2,359 | 1,095 |
Finance costs, foreign exchange and other | (1,418) | 72 |
Realized gain on disposition of investments | (1,204) | (1,530) |
Unrealized gain on investments | (632) | (1,212) |
Advisory fees paid in shares | 500 | 0 |
Deferred income tax provision | 1,472 | 390 |
Changes in non-cash working capital balances related to operations | ||
(Increase) decrease in accounts and other receivables | 849 | (450) |
Increase in inventories | (129) | (15) |
(Increase) decrease in prepaid expenses and other current assets | (140) | 6 |
Increase (decrease) in accounts payable and accrued liabilities | 599 | (252) |
Increase (decrease) in income taxes payable | (2) | 2 |
Cash flows from (used in) operating activities | (4,054) | (4,608) |
Cash Flows used in Investing Activities | ||
Expenditures on mining operations properties | (143) | (264) |
Expenditures on exploration and evaluation properties | (7,012) | (5,017) |
Purchase of property, plant and equipment | (1,982) | (63) |
Proceeds from disposal of available for-sale-investments | 2,003 | 1,778 |
Release of security from remediation services agreement | 0 | 3,873 |
Increase in restricted cash for decommissioning obligations | (195) | (1,991) |
Cash flows from (used in) investing activities | (7,329) | (1,684) |
Cash Flows from Financing Activities | ||
Proceeds from issuance of shares | 9,043 | 13,008 |
Issuance costs | (716) | (936) |
Proceeds from exercise of warrants | 418 | 6,208 |
Proceeds from exercise of stock options | 162 | 231 |
Cash flows from (used in) financing activities | 8,907 | 18,511 |
Increase (decrease) in Cash and Cash Equivalents | (2,476) | 12,219 |
Cash and Cash Equivalents - Beginning of Year | 20,382 | 8,163 |
Cash and Cash Equivalents - End of Year | $ 17,906 | $ 20,382 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - CAD ($) $ in Thousands | Total | Ordinary shares [member] | Warrants [Member] | Share options and RSU [Member] | Contributed surplus [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] |
Balance at Dec. 31, 2015 | $ 75,033 | $ 168,585 | $ 1,405 | $ 7,378 | $ 12,063 | $ (113,686) | $ (712) |
Balance (in shares) at Dec. 31, 2015 | 77,226,026 | ||||||
Statement of equity [Line Items] | |||||||
Net loss | (4,359) | $ 0 | 0 | 0 | 0 | (4,359) | 0 |
Other comprehensive income | 248 | 0 | 0 | 0 | 0 | 0 | 248 |
Share-based compensation expense recognized | 1,231 | 0 | 0 | 1,231 | 0 | 0 | 0 |
Equity offering, net of issuance costs | 12,082 | $ 9,765 | 2,317 | 0 | 0 | 0 | 0 |
Equity offering, net of issuance costs (in shares) | 10,839,972 | ||||||
Exercise of share options | 230 | $ 341 | 0 | (111) | 0 | 0 | |
Exercise of share options (in shares) | 316,669 | ||||||
Exercise of warrants | 6,208 | $ 7,796 | (1,588) | 0 | 0 | 0 | |
Exercise of warrants (in shares) | 4,364,575 | ||||||
Share options forfeited or expired | 0 | $ 0 | 0 | (817) | 817 | 0 | 0 |
Release of RSU settlement shares | 0 | $ 465 | 0 | (465) | 0 | 0 | 0 |
Release of RSU settlement shares (in shares) | 202,952 | ||||||
Balance at Dec. 31, 2016 | 90,673 | $ 186,952 | 2,134 | 7,216 | 12,880 | (118,045) | (464) |
Balance (in shares) at Dec. 31, 2016 | 92,950,194 | ||||||
Statement of equity [Line Items] | |||||||
Net loss | (7,648) | $ 0 | 0 | 0 | 0 | (7,648) | 0 |
Other comprehensive income | (667) | 0 | 0 | 0 | 0 | 0 | (667) |
Share-based compensation expense recognized | 2,728 | 0 | 0 | 2,728 | 0 | 0 | 0 |
Equity offering, net of issuance costs | 7,294 | $ 7,222 | 72 | 0 | 0 | 0 | 0 |
Equity offering, net of issuance costs (in shares) | 4,205,820 | ||||||
Shares issued - advisory fees | 500 | $ 500 | 0 | 0 | |||
Shares issued - advisory fees (in shares) | 250,000 | ||||||
Shares issued - consideration for Wheaton (note 8) | 6,600 | $ 6,600 | 0 | 0 | |||
Shares issued - consideration for Wheaton (note 8) (in shares) | 3,000,000 | ||||||
Exercise of share options | 162 | $ 240 | 0 | (78) | 0 | 0 | 0 |
Exercise of share options (in shares) | 126,340 | ||||||
Exercise of warrants | 418 | $ 532 | (114) | 0 | 0 | 0 | 0 |
Exercise of warrants (in shares) | 458,878 | ||||||
Share options forfeited or expired | 0 | $ 0 | 0 | (2,863) | 2,863 | 0 | 0 |
Release of RSU settlement shares | 0 | $ 343 | 0 | (343) | 0 | 0 | 0 |
Release of RSU settlement shares (in shares) | 289,618 | ||||||
Balance at Dec. 31, 2017 | $ 100,060 | $ 202,389 | $ 2,092 | $ 6,660 | $ 15,743 | $ (125,693) | $ (1,131) |
Balance (in shares) at Dec. 31, 2017 | 101,280,850 |
Description of Business and Nat
Description of Business and Nature of Operations | 12 Months Ended |
Dec. 31, 2017 | |
Description of Business and Nature of Operations [Abstract] | |
Description of Business and Nature of Operations [Text Block] | 1. Description of Business and Nature of Operations Alexco Resource Corp. (“Alexco” or the “Corporation”) was incorporated under the Business Corporations Act (Yukon) on December 3, 2004 and commenced operations on March 15, 2005. Effective December 28, 2007, it was continued under the Business Corporations Act (British Columbia). The Corporation operates two principal businesses: a mining business, comprised of mineral exploration and mine development in Canada, located in the Yukon Territory; and through Alexco Environmental Group (“AEG”), an environmental services business, providing consulting, remediation solutions and project management services in respect of environmental permitting and compliance and site remediation, in Canada and the United States. The Corporation is in the process of exploring and developing its mineral properties. The recoverability of the amounts shown for mineral properties is dependent upon the existence of economically recoverable reserves, successful permitting, the ability of the Corporation to obtain necessary financing to complete exploration and development, and upon future profitable production or proceeds from disposition of each mineral property. Furthermore, the acquisition of title to mineral properties is a complicated and uncertain process, and while the Corporation has taken steps in accordance with common industry practice to verify its title to the mineral properties in which it has an interest, there can be no assurance that such title will ultimately be secured. The carrying amounts of mineral properties are based on costs incurred to date, adjusted for depletion and impairments, and do not necessarily represent present or future values. In September 2013, Bellekeno mining operations were suspended in light of a sharply reduced silver price environment and have remained on care maintenance since then. Alexco is a public company which is listed on the Toronto Stock Exchange (under the symbol AXR) and the NYSE American Stock Exchange (under the symbol AXU). The Corporation’s corporate head office is located at Suite 1225, Two Bentall Centre, 555 Burrard Street, Box 216, Vancouver, BC, Canada, V7X 1M9. |
Basis of Preparation and Statem
Basis of Preparation and Statement of Compliance | 12 Months Ended |
Dec. 31, 2017 | |
Basis of Preparation and Statement of Compliance [Abstract] | |
Disclosure of basis of preparation of financial statements [text block] | 2. Basis of Preparation and Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, and were approved for issue by the Board of Directors on March 14, 2018. These consolidated financial statements have been prepared on a going concern basis under the historical cost method, except for derivative financial instruments and certain financial assets which have been measured at fair value. All figures are expressed in Canadian dollars unless otherwise indicated. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Disclosure of significant accounting policies [text block] | 3. Summary of Significant Accounting Policies The significant accounting policies used in the preparation of these financial statements are summarized below. (a) Basis of Consolidation The Corporation’s consolidated financial statements include the accounts of the Corporation and its subsidiaries. Subsidiaries are entities controlled by the Corporation, where control is achieved by the Corporation being exposed to, or having rights to, variable returns from its involvement with the entity and having the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is obtained by Alexco, and are de-consolidated from the date that control ceases. The following subsidiaries have been consolidated for all dates presented within these financial statements, and are wholly owned: Alexco Keno Hill Mining Corp. (formerly Alexco Resource Canada Corp., formerly 650399 B.C. Ltd.), Elsa Reclamation & Development Corporation Ltd. (“ERDC”), Alexco Exploration Canada Corp., Alexco Environmental Group Inc. (formerly Access Mining Consultants Ltd.), Alexco Environmental Group Holdings Inc. and Alexco Water and Environment Inc. (“AWE”). During the period January 1, 2017 through December 28, 2017 amounts from Alexco Environmental (US) Group Inc. (“AEG US”) and Alexco Financial Guarantee Corp. (“AFGC”) (together referred to as “AEG US Group”) were consolidated by the Corporation. All significant inter-company transactions, balances, income and expenses are eliminated on consolidation. (b) Cash and Cash Equivalents Cash and cash equivalents are unrestricted as to use and consist of cash on hand, demand deposits and short term interest-bearing investments with maturities of 90 days or less from the original date of acquisition and which can readily be liquidated to known amounts of cash. Redeemable interest bearing investments with maturities of up to one year are considered cash equivalents if they can readily be liquidated at any point in time to known amounts of cash and they are redeemable thereafter until maturity for invested value plus accrued interest. (c) Inventories Inventories include ore in stockpiles, concentrate and materials and supplies. Ore in stockpiles and concentrate are recorded at the lower of weighted average cost and net realizable value. Cost comprises all mining and processing costs incurred, including labor, consumables, production-related overheads, depreciation of production-related property, plant and equipment and depletion of related mineral properties. Net realizable value is estimated at the selling price in the ordinary course of business less applicable variable selling expenses. Materials and supplies are valued at the lower of cost and replacement cost, costs based on landed cost of purchase, net of a provision for obsolescence where applicable. When inventories have been written down to net realizable value, a new assessment of net realizable value is made in each subsequent period. When circumstances that caused the write-down no longer exist or when there is clear evidence of an increase in net realizable value, the amount of the write down is reversed. Property, Plant and Equipment Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment write-downs. The cost capitalized is determined by the fair value of consideration given to acquire the asset at the time of acquisition or construction, the direct cost of bringing the asset to the condition necessary for operation, and the estimated future cost of decommissioning and removing the asset. Repairs and maintenance expenditures are charged to operations, while major improvements and replacements which extend the useful life of an asset are capitalized. Heavy machinery and equipment 5 years straight-line Land and buildings 20 years straight-line Leasehold improvements & Other Over the term of lease, and 2 5 years straight-line Roads, Camp and other site infrastructure 5 -10 years straight-line Ore-processing mill components Variously between 5 and 30 years straight-line Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within other gains or losses in earnings. (e) Mineral Properties Exploration and Evaluation Properties The Corporation capitalizes exploration and evaluation expenses at cost for expenditures incurred after it has obtained legal rights to explore a specific area and before technical feasibility and commercial viability of extracting mineral resources are demonstrable. All direct and indirect costs relating to the exploration of specific properties with the objective of locating, defining and delineating the resource potential of the mineral interests on specific properties are capitalized as exploration and evaluation assets, net of any directly attributable recoveries recognized, such as exploration or investment tax credits. At each reporting date, exploration and evaluation assets are evaluated and classified as mining operations assets upon completion of technical feasibility and determination of commercial viability. Mining Operations Properties Mining operations properties are recorded at cost on a property-by-property basis. The recorded cost of mining operations properties is based on acquisition costs incurred to date, including capitalized exploration and evaluation costs and capitalized development costs, less depletion, recoveries and write-offs. Capitalized development costs include costs incurred to establish access to mineable resources where such costs are expected to provide a long-term economic benefit, as well as operating costs incurred, net of the proceeds from any sales generated, prior to the time the property achieves commercial production. Depletion of mining operations properties is calculated on the units-of-production basis using estimated mine plan resources, such resources being those defined in the mine plan on which the applicable mining activity is based. The mine plan resources for such purpose are generally as described in an economic analysis supported by a technical report compliant with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (f) Intangible Assets Customer relationships, rights to provide services and database assets acquired through business combinations, and acquired patents, are recorded at fair value at acquisition date. All of the Corporation’s intangible assets have finite useful lives, and are amortized using the straight-line method over their expected useful lives. (g) Impairment of Non-Current Non-Financial Assets The carrying amounts of non-current non-financial assets are reviewed and evaluated for impairment when events or changes in circumstances indicate that the carrying amounts of the related asset may not be recoverable. Non-current non-financial assets include property, plant, equipment, mineral properties and finite-life intangible assets. If the recoverable amount is less than the carrying amount of the asset, an impairment loss is recognized and the asset is written down to recoverable value. The recoverable amount is the higher of an asset’s “fair value less cost of disposal” and “value-in-use”. Where the asset does not generate cash flows that are independent from other assets, the recoverable amount of the cash-generating unit to which the asset belongs is determined, with a cash-generating unit being the smallest identifiable group of assets and liabilities that generate cash inflows independent from other assets. Exploration and evaluation assets are each separately assessed for impairment, and are not allocated by the Corporation to a cash generating unit (“CGU”) for impairment assessment purposes. “Fair value less cost of disposal” is determined as the amount that would be obtained from the sale of the asset or cash-generating unit in an arm’s length transaction between knowledgeable and willing parties. In assessing “value-in-use”, the future cash flows expected to arise from the continuing use of the asset or cash-generating unit in its present form are estimated using assumptions that an independent market participant would consider appropriate, and are then discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset or unit. Where conditions that gave rise to a recognized impairment loss are subsequently reversed, the amount of such reversal is recognized into earnings immediately, though is limited such that the revised carrying amount of the asset or cash-generating unit does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash generating unit. (h) Provisions General 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 expense relating to any provision is presented in profit or loss net of any reimbursement. Provisions are discounted using a current risk-free pre-tax rate that reflects where appropriate the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. Decommissioning and Rehabilitation Provision The Corporation recognizes a decommissioning and rehabilitation provision for statutory, contractual, constructive or legal obligations to undertake reclamation and closure activities associated with property, plant, equipment and mineral properties, generally at the time that an environmental or other site disturbance occurs or a constructive obligation for reclamation and closure activities is determined. When the extent of disturbance increases over the life of an operation, the provision is increased accordingly. Provisions are measured at the present value of the expected future expenditures required to settle the obligation, using a risk-free pre-tax discount rate reflecting the time value of money and risks specific to the liability. The liability is increased for the passage of time, and adjusted for changes to the current market-based risk-free discount rate as well as changes in the estimated amount or timing of the expected future expenditures. The associated restoration costs are capitalized as part of the carrying amount of the related asset and then depreciated accordingly. (i) Revenue Recognition All revenue is measured at the fair value of the consideration received or receivable when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the Corporation, and is subject to the provision that ultimate collection be reasonably assured at the time of recognition. Revenue from environmental services is recognized with reference to the stage of completion, based on an output appropriate to the particular service contract, such as performance of agreed service deliverables, or provision of billable hours under straight hourly bill contracts. Payments received prior to recognition of the related revenue are recorded as deferred revenue. (j) Share-Based Compensation and Payments The cost of incentive share options and other equity-settled share-based compensation and payment arrangements is recorded based on the estimated fair value at the grant date and charged to earnings over the vesting period. With respect to incentive share options, grant-date fair value is measured using the Black-Scholes option pricing model. With respect to restricted share units, grant-date fair value is determined by reference to the share price of the Corporation at the date of grant. Where share-based compensation awards are subject to vesting, each vesting tranche is considered a separate award with its own vesting period and grant-date fair value. Share-based compensation expense is recognized over the tranche’s vesting period by a charge to earnings, based on the number of awards expected to vest. The number of awards expected to vest is reviewed at least annually, with any impact being recognized immediately. (k) Flow-Through Shares The proceeds from the offering of flow-through shares are allocated between the shares and the sale of tax benefits when the shares are offered. The allocation is made based on the difference between the market value of the shares and the amount the investors pay for the flow-through shares. A liability is recognized for the premium paid by the investors and is then recognized in the results of operations in the period the eligible exploration expenditures are incurred. (l) Warrants When the Corporation issues units that are comprised of a combination of shares and warrants, the value is assigned to shares and warrants based on their relative fair values. The fair value of the shares is determined by the closing price on the date of the transaction and the fair value of the warrants is determined based on a Black-Scholes option pricing model. (m) Current and Deferred Income Taxes Income tax expense comprises current and deferred income taxes. Current and deferred income taxes are recognized in profit or loss except to the extent that they relate to a business combination or to items recognized directly in equity or in other comprehensive income. Current income taxes are the expected taxes payable or receivable on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of previous periods. Deferred income taxes are recognized using the liability method, on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. However, deferred income taxes are not recognized if they arise from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit nor loss. Deferred income taxes are determined using tax rates and laws that have been enacted or substantively enacted at the reporting date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets and liabilities are presented as non-current in the financial statements. Deferred income tax assets and liabilities are offset if there is a legally enforceable right of offset, 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. Deferred income tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the assets can be utilized. (n) Translation of Foreign Currencies The financial statements of each entity in the group are measured using the currency of the primary economic environment in which each entity operates (the “functional currency”). The consolidated financial statements are presented in Canadian dollars. The functional currency of all entities in the Corporation group other than AWE is the Canadian dollar, while the functional currency of AWE is the United States dollar. The financial statements of AWE are translated into the Canadian dollar presentation currency using the current rate method as follows: ⋅ Assets and liabilities at the closing rate at the date of the statement of financial position. ⋅ Income and expenses at the average rate of the period (as this is considered a reasonable approximation to actual rates). ⋅ All resulting changes are recognized in other comprehensive income as cumulative translation adjustments. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognized in other comprehensive income. When an entity disposes of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the foreign currency gains or losses accumulated in other comprehensive income related to the foreign operation are recognized in profit or loss. If an entity disposes of part of an interest in a foreign operation which remains a subsidiary, a proportionate amount of foreign currency gains or losses accumulated in other comprehensive income related to the subsidiary is reallocated between controlling and non-controlling interests. (o) Earnings or Loss Per Share Basic earnings per share is calculated by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated using the treasury share method whereby all “in the money” options, warrants and equivalents are assumed to have been exercised at the beginning of the period and the proceeds from the exercise are assumed to have been used to purchase common shares at the average market price during the period. (p) Financial Instruments Financial assets and financial liabilities, including derivative instruments, are initially recognized at fair value on the balance sheet when the Corporation becomes a party to their contractual provisions. Measurement in subsequent periods depends on the financial instrument’s classification. Loans and Receivables Cash and cash equivalents and accounts and other receivables (other than embedded derivatives) are measured at amortized cost. Where necessary, accounts and other receivables are recorded net of allowances for uncollectible amounts. Financial Assets at Fair Value Through Profit or Loss Derivative instruments, including embedded derivatives included within accounts receivable arising from sales of concentrates, are classified as fair value through profit or loss and accordingly are measured at fair value. Unrealized gains and losses on embedded derivatives arising from the sale of concentrates are recognized as adjustments to revenue. Unrealized gains and losses on other derivatives, if any, are recorded as part of other gains or losses in earnings. Held-to-Maturity Investments Investments, including term deposits not included in cash equivalents, with fixed or determinable payments and fixed maturity and which the Corporation has the intention and ability to hold to maturity are classified as held to maturity and thus are measured at amortized cost using the effective interest method. Available-for-Sale Financial Assets Investments are designated as available-for-sale and measured at fair value, with unrealized and realized gains and losses recognized in other comprehensive income. Available-for-sale investments are recorded as current assets unless management intends to hold them for a period longer than twelve months from the balance sheet date. Financial Liabilities Financial liabilities include accounts payable and accrued liabilities, and are measured at amortized cost using the effective interest method. Financial liabilities are classified as current liabilities if payment is due within twelve months. Otherwise, they are presented as non-current liabilities. Impairment and Uncollectibility of Financial Assets At each reporting date, the Corporation assesses whether there is objective evidence of impairment of any financial asset measured at other than fair value, or available for sale financial assets where a decline in fair value has been recognized in other comprehensive income. If such evidence exists, the Corporation recognizes an impairment loss. Impairment losses on financial assets carried at amortized cost or a debt instrument carried as available-for-sale are reversed in subsequent periods if the amount of the loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized. Impairments relating to investments in available-for-sale equity instruments are not reversed through profit or loss. (q) Fair Value Measurement Where fair value is used to measure assets and liabilities in preparing these financial statements, it is estimated at the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions. Fair values are determined from inputs that are classified within the fair value hierarchy defined under IFRS as follows: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 Inputs for the asset or liability that are unobservable |
New and Revised Accounting Stan
New and Revised Accounting Standards | 12 Months Ended |
Dec. 31, 2017 | |
New and Revised Accounting Standards Adopted [Abstract] | |
Disclosure of changes in accounting policies, accounting estimates and errors [text block] | 4. New and Revised Accounting Standards A number of new standards and amendments to standards and interpretations that have been issued but are not yet effective: IFRS 9, Financial Instruments Financial Instruments: Recognition and Measurement We have concluded that this standard will not have a material effect on our financial statements. We have made the irrevocable classification choice to record fair value changes on our available-for-sale investments in other comprehensive income. This election will result in a reclassification of $nil from our retained earnings to accumulated other comprehensive income (loss), all within equity, on January 1, 2018. IFRS 15, Revenue from Contracts with Customers Revenue Construction contracts In 2013, the Corporation put the previously operating Keno Hill District (“District”) on care and maintenance, where it has remained since that date. When the District resumes mining operations, we will review the sales contracts in place and assess the effects of the new standard. We have substantially completed our analysis of IFRS 15 and the effect the adoption will have on our financial statements. Management’s primary focus was evaluating contracts under our Environmental Services business, as this is currently our primary source of revenue. Based on this analysis, we do not anticipate significant changes to the timing and amount of our revenue recognition related to from environmental services under IFRS 15, as the majority of our contracts contain a single performance obligation. Consequently, consistent with our existing policy, revenue will be recognized “over time”, as the services are provided. We have also assessed the impact of IFRS 15 on our silver streaming arrangement with Wheaton Precious Metals Corp. (“Wheaton”), as described in Note 14. At the date the transaction was completed, we determined that the contract is a sale of a mineral interest and a related contract to provide extraction services. Under our existing policy, we apply the provisions of IFRS 6, which allows for an accounting policy choice to either apply the proceeds received as a credit to the carrying value of the exploration and evaluation (“E&E”) asset, or account for the transaction as a partial sale, with deferral of the gain, to be recognised on a units-of-production sold basis. Upon the effective date of IFRS 15, the company will continue to apply IFRS 6, as permitted, but as a result, will elect the policy to apply the proceeds received as a credit to the carrying value of the E&E asset. Management believes this approach to be more relevant and reliable. Specifically, advance payments received under the Wheaton contract will be accounted for as follows: · The USD $ 50,000,000 · Revenue from extraction services will be recognized using a transaction price of US$ 3.90 In January 2016, the IASB issued IFRS 16 Leases Leases In June 2 0 Income Taxes There are no other IFRS’s or International Financial Reporting Interpretations Committee (“IFRIC”) interpretations that are not yet effective that are expected to have a material impact on the Corporation. |
Critical Judgements and Major S
Critical Judgements and Major Sources of Estimation Uncertainty | 12 Months Ended |
Dec. 31, 2017 | |
Critical Judgements and Major Sources of Estimation Uncertainty [Abstract] | |
Disclosure of accounting judgements and estimates [text block] | 5. Critical Judgements and Major Sources of Estimation Uncertainty The preparation of the consolidated financial statements requires management to select accounting policies and make estimates and judgments that may have a significant impact on the consolidated financial statements. Estimates are continuously evaluated and are based on management’s experience and expectations of future events that are believed to be reasonable under the circumstances. The estimates management makes in this regard include those regarding future commodity prices and foreign currency exchange rates, which are an important component of several estimates and assumptions management must make in preparing the financial statements, including but not limited to estimations and assumptions regarding the evaluation of the carrying amount of mineral properties and other assets, the estimation of decommissioning and rehabilitation provisions, the estimation of revenues and the value of the embedded derivative related to sales of concentrate, and the estimation of the net realizable value of inventories. Management bases its estimates of future commodity prices and foreign currency exchange rates primarily on consensus investment analyst forecasts, which are tracked and updated as published on generally a quarterly basis. Actual outcomes can differ from these estimates. The most significant judgments and estimates made by management in preparing the Corporation’s financial statements are described as follows: · Mineral Resources The determination of the Corporation’s estimated mineral resources by appropriately qualified persons requires significant judgements regarding the interpretation of complex geological and engineering data including the size, depth, shape and nature of the deposit and anticipated plans for mining, as well as estimates of future commodity prices, foreign exchange rates, capital requirements and production costs. These mineral resource estimates are used in many determinations required to prepare the Corporation’s financial statements, including evaluating the recoverability of the carrying amount of its non-current non-financial assets and estimating amounts of future taxable income in determining whether to record a deferred tax asset. · Impairment and Impairment Reversals of Non-Current Non-Financial Assets The Corporation reviews and evaluates the carrying value of each of its non-current non-financial assets for impairment and impairment reversals when events or changes in circumstances indicate that the carrying amounts of the related asset may not be recoverable or previous impairment losses may become recoverable. The identification of such events or changes and the performance of the assessment requires significant judgment. Furthermore, management’s estimates of many of the factors relevant to completing this assessment, including commodity prices, foreign currency exchange rates, mineral resources, and operating, capital and reclamation costs, are subject to risks and estimation uncertainties that may further affect the determination of the recoverability of the carrying amounts of its non-current non-financial assets. Management has assessed indicators of impairment and impairment reversals on the Corporation’s non-current non-financial assets and has concluded that no impairment or impairment reversal indicators exists as of December 31, 2017. · Decommissioning and Rehabilitation Provision Management’s determination of the Corporation’s decommissioning and rehabilitation provision is based on the reclamation and closure activities it anticipates as being required, the additional contingent mitigation measures it identifies as potentially being required and its assessment of the likelihood of such contingent measures being required, and its estimate of the probable costs and timing of such activities and measures. Significant judgements must be made when determining such reclamation and closure activities and measures required and potentially required. · Fair value of derivatives The fair values of financial instruments that are not traded in an active market are determined using valuation techniques. Management uses its judgment to select a method of valuation and makes estimates of specific model inputs that are based on conditions existing at the end of each reporting period. Refer to Note 14 for further details on the methods and assumptions associated with the measurement of the embedded derivative within the Silver Streaming Interest. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Disclosure of cash and cash equivalents [text block] | 6. Cash and Cash Equivalents December 31 December 31 Cash at bank and on hand $ 6,019 $ 6,484 Short-term bank deposits 11,887 13,898 $ 17,906 $ 20,382 |
Accounts and Other Receivables
Accounts and Other Receivables | 12 Months Ended |
Dec. 31, 2017 | |
Accounts and Other Receivables [Abstract] | |
Disclosure of trade and other receivables [text block] | 7. Accounts and Other Receivables December 31 December 31 Trade receivables $ 1,988 $ 2,760 Interest and other 99 179 Less: allowance for doubtful accounts (1) (1) $ 2,086 $ 2,938 |
Restricted Cash and Deposits
Restricted Cash and Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Restricted Cash and Deposits [Abstract] | |
Disclosure of restricted cash and cash equivalents [text block] | 8. Restricted Cash and Deposits December 31 December 31 Security for remediation services agreement $ 499 $ 534 Security for decommissioning obligations 6,507 6,328 Other 86 86 Restricted cash and deposits 7,092 6,948 Less: Current portion 499 - $ 6,593 $ 6,948 Security for remediation services agreement of $ 499,000 398,000 534,000 398,000 and environmental Subject to consent from third parties, this Security for decommissioning obligations of $ 6,507,000 6,328,000 |
Investments
Investments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Investments [Abstract] | |
Disclosure of investments accounted for using equity method [text block] | 9. Investments December 31 December 31 Common shares held $ 673 $ 365 Warrants held 1,082 1,326 Investments 1,755 1,691 Less: Current Portion 728 1,691 $ 1,027 $ - As of December 31, 2017, the common shares held consist of 4,775,000 ) and 300,000 473,500 4,375,000 0.115 1,425,000 2,125,000 0.15 1.00 During the year ended December 31, 2017, the Corporation recorded a pre-tax gain on investments in the amount of the $ 1,341,000 1,530,000 1,204,000 111,000 137,000 224,000 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Classes of current inventories [abstract] | |
Disclosure of inventories [text block] | 10. Inventories December 31 December 31 Ore in stockpiles and mining supplies $ 4,743 $ 5,110 Materials and supplies 646 151 Inventory 5,389 5,261 Less: Current portion 646 151 $ 4,743 $ 5,110 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Disclosure of property, plant and equipment [text block] | 11. Property, Plant and Equipment Cost Land and Camp, Ore Heavy Leasehold Total December 31, 2015 $ 1,364 $ 5,213 $ 20,402 $ 6,707 $ 1,322 $ 35,008 Additions - - - - 72 72 Decommission change in estimate - - (106) - - (106) Disposals - - - (55) - (55) December 31, 2016 $ 1,364 $ 5,213 $ 20,296 $ 6,652 $ 1,394 $ 34,919 Additions 345 14 13 1,594 34 2,000 December 31, 2017 $ 1,709 $ 5,227 $ 20,309 $ 8,246 $ 1,428 $ 36,919 Accumulated Land and Camp, Ore Heavy Leasehold Total December 31, 2015 $ 215 $ 3,946 $ 7,788 $ 5,759 $ 1,208 $ 18,916 Depreciation 60 410 1,040 542 31 2,083 Disposal - - - (47) - (47) December 31, 2016 $ 275 $ 4,356 $ 8,828 $ 6,254 $ 1,239 $ 20,952 Depreciation 75 286 1,040 384 43 1,828 December 31, 2017 $ 350 $ 4,642 $ 9,868 $ 6,638 $ 1,282 $ 22,780 Net book Value Land and Camp, Ore Heavy Leasehold Total December 31, 2016 $ 1,089 $ 857 $ 11,468 $ 398 $ 155 $ 13,967 December 31, 2017 $ 1,359 $ 585 $ 10,441 $ 1,608 $ 146 $ 14,139 During the year ended December 31, 2017, the Corporation recorded total depreciation of property, plant and equipment of $1,828,000 (2016 $2,083,000), of which $1,563,000 (2016 $1,964,000) has been charged to income with $142,000 (2016 $246,000) recorded in environmental services cost of sales and $1,421,000 (2016 $1,718,000) reflected under general expenses and mine site care and maintenance. Of the balance, $265,000 (2016 $119,000) was related to property, plant and equipment used in exploration activities and has been capitalized to mineral properties. |
Mineral Properties
Mineral Properties | 12 Months Ended |
Dec. 31, 2017 | |
Mining assets [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Disclosure Of Mineral Properties [Text Block] | 12. Mineral Properties December 31 Expenditures December 31 Mineral Properties Keno Hill District Properties Bellekeno $ 8,804 $ 76 $ 8,880 Lucky Queen 2,113 130 2,243 Onek 321 16 337 McQuesten (i) 3,814 73 3,886 Silver King 7,154 - 7,154 Flame & Moth 21,966 489 22,455 Bermingham 15,193 8,184 23,377 Elsa Tailings 884 - 884 Other Keno Hill Properties 5,410 - 5,410 Other 190 - 190 Total $ 65,849 $ 8,967 $ 74,816 December 31 Expenditures December 31 Mineral Properties Keno Hill District Properties Bellekeno $ 8,833 $ (29) $ 8,804 Lucky Queen 1,958 155 2,113 Onek 289 32 321 McQuesten (i) 3,794 20 3,814 Silver King 7,154 - 7,154 Flame & Moth 20,912 1,054 21,966 Bermingham 11,059 4,134 15,193 Elsa Tailings 884 - 884 Other Keno Hill Properties 5,410 - 5,410 Other 190 - 190 Total $ 60,483 $ 5,366 $ 65,849 (i) Effective May 24, 2017, the Corporation entered into an Option Agreement with Banyan Gold Corp. (“Banyan”) to option up to 100 100 2,600,000 338,954 1,600,000 2,600,000 6 7,000,000 1 3 Mining Exploration and Total December 31, 2017 Cost $ 130,387 $ 70,366 $ 200,753 Accumulated depletion and write-downs (118,927) (7,010) (125,937) Net book value $ 11,460 $ 63,356 $ 74,816 December 31, 2016 Cost $ 130,165 $ 61,621 $ 191,786 Accumulated depletion and write-downs (118,927) (7,010) (125,937) Net book value $ 11,238 $ 54,611 $ 65,849 (a) Keno Hill District Properties The Corporation’s mineral interest holdings in the Keno Hill District, located in Canada’s Yukon Territory, are comprised of a number of properties. The majority of the Corporation’s mineral rights within the Keno Hill District were purchased from the interim receiver of United Keno Hill Mines Limited and UKH Minerals Limited (collectively, “UKHM”) in 2006 and are held by ERDC. As a condition of that purchase, a separate agreement was entered into between Alexco, ERDC, the Government of Canada and the Government of Yukon (the “Subsidiary Agreement”), under which the Government of Canada indemnified ERDC and Alexco from and against all liabilities arising directly or indirectly from the pre-existing environmental condition of the former UKHM mineral rights. The Subsidiary Agreement also provided that ERDC may bring any mine into production on the former UKHM mineral rights by designating a production unit from the mineral rights relevant to that purpose and then assuming responsibility for all costs of the production unit’s water related care and maintenance and water related components of closure reclamation. Other Subsidiary Agreement terms unchanged by the ARSA include that ERDC is required to pay into a separate reclamation trust a 1.5 4 6.2 37,000 The ARSA can be terminated at ERDC’s election should a closure reclamation plan be prepared but not accepted and approved, and at the Governments’ election should ERDC be declared in default under the ARSA. (b) Mining Operations on care and maintenance The Corporation’s historical From September 2013, Bellekeno mining operations have been suspended in light of a low silver price environment. Keno Hill Royalty Encumbrances As noted above, under the Subsidiary Agreement and unchanged by the ARSA, the former UKHM mineral rights are subject to a 1.5 4 0.5 2 2 all of which are incorporated under the Option Agreement with Banyan. 1 1.5 |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Accounts Payables And Accrued Liabilities [Abstract] | |
Disclosure of accrued expenses and other liabilities [text block] | 13. Accounts payable and accrued liabilities December 31 December 31 Trade payables $ 1,468 $ 814 Accrued liabilities and other 2,133 1,016 $ 3,601 $ 1,830 |
Silver Streaming Interest
Silver Streaming Interest | 12 Months Ended |
Dec. 31, 2017 | |
Silver Streaming Interest [Abstract] | |
Disclosure of silver streaming interest [Text Block] | 14. Silver Streaming Interest December 31 December 31 Balance Silver Stream Interest $ 18,118 $ 18,118 Less: Embedded derivative asset (6,600) - $ 11,518 $ 18,118 On October 2, 2008 (with subsequent amendments on October 20, 2008, December 10, 2008, December 22, 2009, March 31, 2010, January 15, 2013, March 11, 2014 and June 16, 2014), the Corporation entered into a silver purchase agreement (the "SPA") with Wheaton under which Wheaton will receive 25 50,000,000 3.90 40 On March 29, 2017 the Corporation and Wheaton amended the SPA (the “Amended SPA, such that Wheaton will continue to receive 25 spot the monthly average head grade at the mill and the monthly average silver spot price, as determined by a 25 13 400 8,788,000 322 In consideration of the foregoing amendments, the Corporation issued 3,000,000 6,600,000 4,934,948 50,000,000 25 Financial Instruments As at December 31, 2017, the fair value of the embedded derivative was calculated based on the discounted future cash flows associated with the difference between the original US$ 3.90 monthly relies upon and will be updated as a result of updated studies, mine plans and actual production. 13 There were no significant changes in fair value to the underlying embedded derivative therefore there were no adjustments |
Decommissioning and Rehabilitat
Decommissioning and Rehabilitation Provision | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of other provisions [abstract] | |
Disclosure of other provisions [text block] | Decommissioning and Rehabilitation Provision December 31 December 31 Balance beginning of year $ 4,955 $ 5,111 (Decrease) increase due to re-estimation 37 (220) Accretion expense, included in finance costs 63 64 Balance end of year $ 5,055 $ 4,955 The Corporation’s decommissioning and rehabilitation provision consists of costs expected to be incurred in respect of future reclamation and closure activities at the end of the life of the Bellekeno, Flame & Moth, Lucky Queen and Onek mines. These activities include water treatment, land rehabilitation, ongoing care and maintenance and other reclamation and closure related requirements. The $ 6,499,000 The total inflation adjusted estimated cash flows required to settle the decommissioning and rehabilitation provision is estimated to be $ 6,187,000 6,056,000 17 2.11 2.1 2.0 2.0 5,055,000 4,955,000 |
Capital and Reserves
Capital and Reserves | 12 Months Ended |
Dec. 31, 2017 | |
Capital and reserves [Abstract] | |
Disclosure Of Share Capital Reserves And Other EquityInterest Explanatory [Text Block] | Capital and Reserves Shareholders’ Equity The following share transactions took place in the year ended December 31, 2017: 1. On May 30, 2017, the Corporation completed a bought deal financing and issued 4,205,820 2.15 . Share issuance costs were $788,000 including non-cash items of $72,000 related to the valuation of broker warrants; 2. 126,339 3. 463,078 418,000 4. 289,626 5. 3,000,000 6. 250,000 On July 29, 2016 the Corporation filed a short form base shelf prospectus with the securities commissions in each of the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and a corresponding amendment to its registration statement on Form F-10 (Registration Statement) with the United States Securities and Exchange Commission (SEC) under the U.S./Canada Multijurisdictional Disclosure System, which would allow the Corporation to make offerings of common shares, warrants, subscription receipts and/or units up to an aggregate total of $ 50,000,000 Expiry Date Exercise Balance at Issued Exercised Balance at December 8, 2017 $ 0.53 323,362 - (323,362) - May 17, 2018 $ 1.75 5,008,336 - (139,716) 4,868,620 May 17, 2018 $ 1.49 60,900 - - 60,900 May 30, 2019 $ 2.15 - 126,174 - 126,174 $ 1.76 5,392,598 126,174 (463,078) 5,055,694 The following share transactions took place in the year ended December 31, 2016: a) On May 17, 2016, the Corporation closed a non-brokered private placement of units of the Corporation ("Units") at a price of $ 1.20 10,839,972 1.75 24 1,132,000 196,000 b) 316,669 c) 4,364,575 6,208,000 d) 202,952 Equity Incentive Plan Under the Corporations equity incentive plan (the “Equity Incentive Plan”), the aggregate number of common shares issuable on the exercise of stock options or issuance of RSUs cannot exceed 10% of the number of common shares issued and outstanding. As at December 31, 2017, a total of 6,546,666 398,326 3,183,093 Incentive Stock Options Stock options under the Equity Incentive Plan have a maximum term of five years, vesting 25% upon granting and 25% each six months thereafter Weighted Number of Amount Balance December 31, 2016 $ 2.48 6,175,995 $ 6,996 Stock options granted $ 2.31 1,645,500 - Share based compensation expense - - 2,204 Options exercised $ 1.28 (126,332) (78) Options forfeited or expired $ 4.78 (1,148,497) (2,864) Balance December 31, 2017 $ 2.06 6,546,666 $ 6,258 Balance December 31, 2015 $ 3.20 4,444,497 $ 6,906 Stock options granted $ 1.11 2,537,500 - Share based compensation expense - - 1,018 Options exercised $ 0.72 (316,669) (111) Options forfeited or expired $ 3.01 (489,333) (817) Balance December 31, 2016 $ 2.48 6,175,995 $ 6,996 During the year ended December 31, 2017, the fair value of options at the date of grant was estimated using the Black-Scholes option pricing model, assuming a risk-free interest rate of 1.02 0.53 4 4 73 70 2 4 Incentive share options outstanding and exercisable at December 31, 2017 are summarized as follows: Options Outstanding Options Exercisable Exercise Price Number of Average Average Number of Average $ 0.60 35,000 1.96 $ 0.60 35,000 $ 0.60 $ 0.60 1,085,333 2.12 $ 0.60 1,085,333 $ 0.60 $ 0.84 1,640,833 3.12 $ 0.84 1,093,889 $ 0.84 $ 1.73 600,000 3.44 $ 1.73 600,000 $ 1.73 $ 1.75 42,000 4.63 $ 1.75 10,500 $ 1.75 $ 1.78 150,000 3.49 $ 1.78 150,000 $ 1.78 $ 1.94 496,500 1.12 $ 1.94 496,500 $ 1.94 $ 2.32 1,601,500 4.09 $ 2.32 800,750 $ 2.32 $ 4.16 336,000 0.06 $ 4.16 336,000 $ 4.16 $ 7.10 556,000 0.03 $ 7.10 556,000 $ 7.10 $ 8.13 3,500 0.35 $ 8.13 3,500 $ 8.13 6,546,666 2.66 $ 2.06 5,167,472 $ 2.15 The weighted average share price at the date of exercise for options exercised during the year ended December 31, 2017 was $ 2.26 1.59 During the year ended December 31, 2017, the Corporation recorded total share-based compensation expense of $ 2,204,000 1,018,000 369,000 136,000 1,835,000 882,000 Subsequent to December 31, 2017, a further 2,464,000 stock options were 451,000 stock options 8,000 stock options were Restricted Share Units The Corporation has a RSU Plan. 398,326 Number of Amount Balance December 31, 2016 452,951 $ 220 RSUs granted 235,000 - Share-based compensation expense recognized - 524 RSUs vested (289,625) (343) Balance December 31, 2017 398,326 $ 401 Balance December 31, 2015 360,903 $ 471 RSUs granted 295,000 - Share-based compensation expense recognized - 213 RSUs vested (202,952) (464) Balance December 31, 2016 452,951 $ 220 During the year ended December 31, 2017 the Corporation granted a total of 235,000 295,000 545,000 268,000 524,000 213,000 The weighted average share price at the date of vesting for RSUs during the year ended December 31, 2017 was $ 2.31 1.04 Subsequent to December 31, 2017, a total of 177,700 |
General and Administrative Expe
General and Administrative Expenses by Nature of Expense | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of General And Administrative Expenses [Abstract] | |
Disclosure of general and administrative expense [text block] | 17. General and Administrative Expenses by Nature of Expense Corporate 2017 2016 General and administrative expenses Depreciation $ 89 $ 84 Amortization of intangible assets 13 13 Business development and investor relations 567 419 Office, operating and non-operating overheads 682 603 Professional 433 647 Regulatory 309 159 Restructuring costs 1,353 - Salaries and contractors 2,112 1,416 Share-based compensation 2,305 914 Travel 301 220 $ 8,164 $ 4,475 Environmental Services General and administrative expenses Depreciation $ 19 $ 32 Amortization of intangible assets 59 98 Business development and investor relations 164 75 Office, operating and non-operating overheads 756 748 Professional 29 39 Salaries and contractors 1,657 1,837 Share-based compensation - 161 Travel 94 49 $ 2,778 $ 3,039 Total General and Administrative Expenses $ 10,942 $ 7,514 |
Mine Site Care and Maintenance
Mine Site Care and Maintenance | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Exploration and evaluation Assets [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 18. Mine Site Care and Maintenance The Corporation recorded mine site care and maintenance expenses for the years ended December 31, 2017 and 2016 as follows: 2017 2016 Mine site care and maintenance Depreciation $ 1,366 $ 1,602 Office, operating and non-operating overheads 357 274 Other expenses - 78 $ 1,723 $ 1,954 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of income tax [Abstract] | |
Disclosure of income tax [text block] | Income Tax Expense The major components of income tax expense for the years ended December 31, 2017 and 2016 are as follows: (a) 2017 2016 Accounting loss before taxes $ (6,176) $ (3,967) Federal and provincial income tax rate of 26% (2016 26%) (1,605) (1,031) Non-deductible permanent differences 495 (53) Differences in foreign exchange rates - (95) Effect of difference in tax rates 2,488 (131) Change in deferred tax asset not recognized (1,075) 1,424 Flow-through share renunciation 1,040 594 Change in estimate (72) (396) Other 201 80 1,472 1,423 Income tax provision $ 1,472 $ 392 (b) Deferred tax liabilities Mineral Inventory Property, Other Total December 31, 2015 $ (4,712) $ (126) $ (1,365) $ (1,219) $ (7,422) Charged to the income statement (1,425) - (140) (50) (1,615) Charged to OCI - - - 119 119 December 31, 2016 $ (6,137) $ (126) $ (1,505) $ (1,150) $ (8,918) (Charged) credited to the income statement (1,390) 13 41 41 (1,295) December 31, 2017 $ (7,527) $ (113) $ (1,464) $ (1,109) $ (10,213) Deferred tax assets Mineral Loss Property, Decommissioning Other Total December 31, 2015 $ 592 $ 2,757 $ 316 $ 1,533 $ 1,440 $ 6,638 Credited (charged) to the income statement 178 1,524 (173) (48) (561) 920 Charged to OCI - - - - (80) (80) December 31, 2016 $ 770 $ 4,281 $ 143 $ 1,485 $ 799 $ 7,478 Credited (charged) to the income statement 69 (13) (66) (121) (775) (906) Charged to OCI - - - - 637 637 December 31, 2017 $ 839 $ 4,268 $ 77 $ 1,364 $ 661 $ 7,209 Net deferred tax liabilities December 31, 2016 $ (1,440) Charged to the income statement (2,201) Charged to OCI 637 December 31, 2017 $ (3,004) (c) Tax loss carry forwards $ 40,604 Mineral property interest 24,518 Other 8,431 $ 73,553 Canada Total 2029 3,195 3,195 2030 3,397 3,397 2031 421 421 2032 88 88 2033 2,222 2,222 2034 9,520 9,520 2035 6,751 6,751 2036 6,687 6,687 2037 8,323 8,323 $ 40,604 $ 40,604 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Financial Instrument [Abstract] | |
Disclosure of financial instruments [text block] | Financial Instruments Financial Assets and Liabilities Fair Value December 31 December 31 Fair value through profit or loss Warrants held-for-trading Level 2 $ 1,082 $ 1,326 Embedded derivative - Wheaton agreement Level 3 $ 6,600 - Available-for-sale Investment in marketable securities Level 1 $ 673 $ 365 $ 8,355 $ 1,691 During the year ended December 31, 2017, the fair value of warrants held for trading were estimated using the Black-Scholes option pricing model, assuming a risk-free interest rate of 1.66 0.73 2.98 0.17 1.19 84.18 87 The carrying amounts of all of the Corporation’s financial assets and liabilities reasonably approximate their fair values. Financial Instrument Risk Exposure The Corporation’s activities expose it to a variety of financial risks: market risk (including price risk, currency risk and interest rate risk), credit risk and liquidity risk. Risk management is carried out by management under policies approved by the Board of Directors. Management identifies and evaluates the financial risks in co-operation with the Corporation’s operating units. The Corporation’s overall risk management program seeks to minimize potential adverse effects on the Corporation’s financial performance, in the context of its general capital management objectives as further described in note 21. Currency Risk Substantially all of the Corporation’s property, plant and equipment and mineral properties are located in Canada; all of its mining operations occur in Canada; and a significant majority of its environmental services revenues are earned in Canada. However, if commercial production recommences at the Keno Hill Silver District, the Corporation’s exposure to US dollar currency risk significantly increases as sales of concentrate and the settlement of the Wheaton streaming payments will be effected in US dollars. In addition, a portion of its environmental services revenues, and receivables arising therefrom, are also denominated in US dollars. As well, while a significant majority of the Corporation’s operating costs are denominated in Canadian dollars, it does have some exposure to costs, as some accounts payable and accrued liabilities are denominated in US dollars. December 31 December 31 Cash and cash equivalents $ 1,336 $ 3,023 Accounts and other receivable 510 972 Accounts payable and accrued liabilities (298) (391) Net exposure $ 1,548 $ 3,604 Based on the above net exposure at December 31, 2017, a 10 158,000 360,000 Credit Risk December 31 December 31 Trade receivables, net of provision Currently due $ 1,035 $ 857 Past due by 90 days or less, not impaired 940 1,315 Past due by greater than 90 days, not impaired 13 32 1,988 2,204 Cash 6,019 6,484 Demand deposits 11,887 13,898 Term deposits 7,092 6,948 $ 26,986 $ 29,534 Substantially all of the Corporation’s cash, cash equivalents and term deposits are held with major financial institutions in Canada, and management believes the exposure to credit risk with respect to such institutions is not significant. Those financial assets that potentially subject the Corporation to credit risk are primarily receivables. Management actively monitors the Corporation’s exposure to credit risk under its financial instruments, particularly with respect to receivables. The Corporation considers the risk of material loss to be significantly mitigated due to the financial strength of the parties from whom the receivables are due, including with respect to trade accounts receivable as the Corporation’s major customers include government organizations as well as substantial corporate entities. As at December 31, 2017, trade receivables are recorded net of a recoverability provision of $ 1,000 1,000 Liquidity Risk Liquidity risk is the risk that the Corporation will not be able to meet its obligations associated with financial liabilities. The Corporation has a planning and budgeting process in place by which it anticipates and determines the funds required to support its normal operating requirements as well as the growth and development of its mining projects. The Corporation coordinates this planning and budgeting process with its financing activities through the capital management process described in note 21. December 31 December 31 Accounts payable and accrued liabilities with contractual maturities Within 90 days or less $ 3,601 $ 1,830 In later than 90 days, not later than one year - - $ 3,601 $ 1,830 |
Management of Capital
Management of Capital | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of share capital, reserves and other equity interest [Abstract] | |
Disclosure of objectives, policies and processes for managing capital [text block] | Management of Capital The capital managed by the Corporation includes the components of shareholders’ equity as described in the consolidated statements of shareholders’ equity. The Corporation is not subject to externally imposed capital requirements. The Corporation’s objectives of capital management are to create long-term value and economic returns for its shareholders. It does this by seeking to maximize the availability of finance to fund the growth and development of its mining projects, and to support the working capital required to maintain its ability to continue as a going concern. The Corporation manages its capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of its assets, seeking to limit shareholder dilution and optimize its cost of capital while maintaining an acceptable level of risk. To maintain or adjust its capital structure, the Corporation considers all sources of finance reasonably available to it, including but not limited to issuance of new capital, issuance of new debt and the sale of assets in whole or in part, including mineral property interests. The Corporation’s overall strategy with respect to management of capital at December 31, 2017 remains fundamentally unchanged from the year ended December 31, 2016. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Cash Flow Statement Explanatory [Abstract] | |
Disclosure of cash flow statement [text block] | 22. Supplemental Cash Flow Information 2017 2016 Operating Cash Flows Arising From Interest and Taxes Interest received $ 221 $ 63 Non-Cash Investing and Financing Transactions Capitalization of share-based compensation to mineral properties $ 369 $ 136 Capitalization of depreciation to mineral properties $ 265 $ 119 Capitalization of re-estimation of decommissioning and rehabilitation provision $ 37 $ (220) Increase (decrease) in non-cash working capital related to: Mining operations properties $ (1,130) $ 54 Exploration and evaluation properties $ (23) $ - |
Segmented Information
Segmented Information | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of operating segments [abstract] | |
Disclosure of entity's operating segments [text block] | Segmented Information The Corporation had two operating segments during the years ended December 31, 2017 and 2016, being environmental services carried out through AEG, providing consulting and project management services in respect of environmental permitting and compliance and site remediation and reclamation; and mining operations, including care and maintenance of the operating Bellekeno mine, producing silver, lead and zinc in the form of concentrates (suspended in September 2013), as well includes exploration and evaluation activities. The Corporation’s executive head office and general corporate administration are included within ‘Corporate and other’ to reconcile the reportable segments to the consolidated financial statements. An operating segment is a component of an entity that engages in business activities, operating results are reviewed with respect to resource allocation and for which discrete financial information is available. Inter-segment transactions are recorded at amounts that reflect normal third-party terms and conditions, with inter-segment profits eliminated from the cost base of the segment incurring the charge. As at and for the year ended Environmental Mining Corporate and Total Segment revenues External customers Canadian $ 5,881 $ - $ - $ 5,881 Non-Canadian 4,851 - - 4,851 Total revenues as reported 10,732 - - 10,732 Cost of sales 6,732 - - 6,732 Gross profit as reported 4,000 - - 4,000 Depreciation and amortization 79 - 101 180 Share-based compensation - - 2,305 2,305 Other G&A expenses 2,700 - 4,404 7,104 Mine site care and maintenance - 1,723 - 1,723 Restructuring Costs 1,353 1,353 Foreign exchange loss (gain) (1,080) (4) 120 (964) Gain on investments - (1,341) (1,341) Other (income) loss 250 (247) (187) (184) Segment income (loss) before taxes $ 2,051 $ (1,472) $ (6,755) $ (6,176) (i) . Total assets $ 6,198 $ 99,815 $ 17,823 $ 123,836 Total liabilities $ 1,642 $ 20,670 $ 1,464 $ 23,776 As at and for the year ended Environmental Mining Corporate and Total Segment revenues External customers Canadian $ 6,754 $ - $ - $ 6,754 Non-Canadian 4,607 - - 4,607 Total revenues as reported 11,361 - - 11,361 Cost of sales 8,495 - - 8,495 Gross profit as reported 2,866 - - 2,866 Depreciation and amortization 130 - 97 227 Share-based compensation 161 - 914 1,075 Other G&A expenses 2,748 - 3,464 6,212 Mine site care and maintenance - 1,954 - 1,954 Foreign exchange loss (gain) (2) - 139 137 Gain on investments - - (2,742) (2,742) Other (income) loss (1) 46 (75) (30) Segment loss before taxes $ (170) $ (2,000) $ (1,797) $ (3,967) (i) Total assets $ 5,413 $ 91,738 $ 20,481 $ 117,632 Total liabilities $ 1,455 $ 24,735 $ 769 $ 26,959 (i) Represents consolidated loss before taxes. For the year ended December 31, 2017, revenue from three customers of the Corporation’s Environmental Services segment represents approximately $ 6,594,000 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of related party [text block] | Related Party Transactions (a) Key Management Personnel Compensation 2017 2016 Salaries and other short-term benefits $ 2,246 $ 1,765 Share-based compensation 2,072 1,079 $ 4,318 $ 2,844 Key management includes the Corporation’s Board of Directors and members of senior management. Other Related Party Transactions: During the year ended December 31, 2017, the Corporation incurred $ 125,000 On December 28, 2017, the Corporation restructured its US environmental division. In this restructuring, the Corporation’s wholly-owned subsidiary, AEG Canada, entered into a share purchase agreement with Arete Property Holdings LLC ( ) 250,000 1,000,000 |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Disclosure of commitments [text block] | Commitments (a) The Corporation has entered into various operating lease contracts for office space, motor vehicles and office equipment. The future minimum payments under these leases as are as follows: 2018 $ 341 2019 296 Thereafter 95 $ 732 (b) The Corporation’s other contractual obligations, including with respect to capital asset expenditures, totaled approximately $ 240,000 (c) As a consequence of its commitment to renounce deductible exploration expenditures to the purchasers of flow-through shares, the Corporation is required to incur further renounceable exploration expenditures totaling $ 5,192,000 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Disclosure of events after reporting period [text block] | Subsequent Event On February 23, 2018 the Corporation entered into a definitive credit agreement with Sprott Private Resource Lending (Collector), L.P. (“Sprott”) to provide a US$ 15,000,000 · Term of 3 February 23, 2021 · Interest rate on funds drawn down: the greater of o 7 o 8 · Repayable in quarterly installments from October 31, 2019 through to the Maturity Date · Upon draw down of funds a 3 · 1,000,000 2.25 5.63 · Repayable in whole or in part, without penalty, provided not less than twelve (12) months of interest has been paid on any outstanding amount · The Corporation has the option to extend the availability period of draw down from twelve (12) to eighteen (18) months by issuing to Sprott 171,480 |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Description of accounting policy for basis of consolidation [Text Block] | (a) Basis of Consolidation The Corporation’s consolidated financial statements include the accounts of the Corporation and its subsidiaries. Subsidiaries are entities controlled by the Corporation, where control is achieved by the Corporation being exposed to, or having rights to, variable returns from its involvement with the entity and having the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is obtained by Alexco, and are de-consolidated from the date that control ceases. The following subsidiaries have been consolidated for all dates presented within these financial statements, and are wholly owned: Alexco Keno Hill Mining Corp. (formerly Alexco Resource Canada Corp., formerly 650399 B.C. Ltd.), Elsa Reclamation & Development Corporation Ltd. (“ERDC”), Alexco Exploration Canada Corp., Alexco Environmental Group Inc. (formerly Access Mining Consultants Ltd.), Alexco Environmental Group Holdings Inc. and Alexco Water and Environment Inc. (“AWE”). During the period January 1, 2017 through December 28, 2017 amounts from Alexco Environmental (US) Group Inc. (“AEG US”) and Alexco Financial Guarantee Corp. (“AFGC”) (together referred to as “AEG US Group”) were consolidated by the Corporation. All significant inter-company transactions, balances, income and expenses are eliminated on consolidation. |
Description of accounting policy for determining components of cash and cash equivalents [text block] | (b) Cash and Cash Equivalents Cash and cash equivalents are unrestricted as to use and consist of cash on hand, demand deposits and short term interest-bearing investments with maturities of 90 days or less from the original date of acquisition and which can readily be liquidated to known amounts of cash. Redeemable interest bearing investments with maturities of up to one year are considered cash equivalents if they can readily be liquidated at any point in time to known amounts of cash and they are redeemable thereafter until maturity for invested value plus accrued interest. |
Description of accounting policy for inventories [Text Block] | (c) Inventories Inventories include ore in stockpiles, concentrate and materials and supplies. Ore in stockpiles and concentrate are recorded at the lower of weighted average cost and net realizable value. Cost comprises all mining and processing costs incurred, including labor, consumables, production-related overheads, depreciation of production-related property, plant and equipment and depletion of related mineral properties. Net realizable value is estimated at the selling price in the ordinary course of business less applicable variable selling expenses. Materials and supplies are valued at the lower of cost and replacement cost, costs based on landed cost of purchase, net of a provision for obsolescence where applicable. When inventories have been written down to net realizable value, a new assessment of net realizable value is made in each subsequent period. When circumstances that caused the write-down no longer exist or when there is clear evidence of an increase in net realizable value, the amount of the write down is reversed. |
Description of accounting policy for property, plant and equipment [text block] | Property, Plant and Equipment Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment write-downs. The cost capitalized is determined by the fair value of consideration given to acquire the asset at the time of acquisition or construction, the direct cost of bringing the asset to the condition necessary for operation, and the estimated future cost of decommissioning and removing the asset. Repairs and maintenance expenditures are charged to operations, while major improvements and replacements which extend the useful life of an asset are capitalized. Heavy machinery and equipment 5 years straight-line Land and buildings 20 years straight-line Leasehold improvements & Other Over the term of lease, and 2 5 years straight-line Roads, Camp and other site infrastructure 5 -10 years straight-line Ore-processing mill components Variously between 5 and 30 years straight-line Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within other gains or losses in earnings. |
Description of accounting policy for mineral properties [Text Block] | (e) Mineral Properties Exploration and Evaluation Properties The Corporation capitalizes exploration and evaluation expenses at cost for expenditures incurred after it has obtained legal rights to explore a specific area and before technical feasibility and commercial viability of extracting mineral resources are demonstrable. All direct and indirect costs relating to the exploration of specific properties with the objective of locating, defining and delineating the resource potential of the mineral interests on specific properties are capitalized as exploration and evaluation assets, net of any directly attributable recoveries recognized, such as exploration or investment tax credits. At each reporting date, exploration and evaluation assets are evaluated and classified as mining operations assets upon completion of technical feasibility and determination of commercial viability. Mining Operations Properties Mining operations properties are recorded at cost on a property-by-property basis. The recorded cost of mining operations properties is based on acquisition costs incurred to date, including capitalized exploration and evaluation costs and capitalized development costs, less depletion, recoveries and write-offs. Capitalized development costs include costs incurred to establish access to mineable resources where such costs are expected to provide a long-term economic benefit, as well as operating costs incurred, net of the proceeds from any sales generated, prior to the time the property achieves commercial production. Depletion of mining operations properties is calculated on the units-of-production basis using estimated mine plan resources, such resources being those defined in the mine plan on which the applicable mining activity is based. The mine plan resources for such purpose are generally as described in an economic analysis supported by a technical report compliant with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects |
Description of accounting policy for intangible assets other than goodwill [text block] | (f) Intangible Assets Customer relationships, rights to provide services and database assets acquired through business combinations, and acquired patents, are recorded at fair value at acquisition date. All of the Corporation’s intangible assets have finite useful lives, and are amortized using the straight-line method over their expected useful lives. |
Description of accounting policy for impairment of non-financial assets [text block] | (g) Impairment of Non-Current Non-Financial Assets The carrying amounts of non-current non-financial assets are reviewed and evaluated for impairment when events or changes in circumstances indicate that the carrying amounts of the related asset may not be recoverable. Non-current non-financial assets include property, plant, equipment, mineral properties and finite-life intangible assets. If the recoverable amount is less than the carrying amount of the asset, an impairment loss is recognized and the asset is written down to recoverable value. The recoverable amount is the higher of an asset’s “fair value less cost of disposal” and “value-in-use”. Where the asset does not generate cash flows that are independent from other assets, the recoverable amount of the cash-generating unit to which the asset belongs is determined, with a cash-generating unit being the smallest identifiable group of assets and liabilities that generate cash inflows independent from other assets. Exploration and evaluation assets are each separately assessed for impairment, and are not allocated by the Corporation to a cash generating unit (“CGU”) for impairment assessment purposes. “Fair value less cost of disposal” is determined as the amount that would be obtained from the sale of the asset or cash-generating unit in an arm’s length transaction between knowledgeable and willing parties. In assessing “value-in-use”, the future cash flows expected to arise from the continuing use of the asset or cash-generating unit in its present form are estimated using assumptions that an independent market participant would consider appropriate, and are then discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and risks specific to the asset or unit. Where conditions that gave rise to a recognized impairment loss are subsequently reversed, the amount of such reversal is recognized into earnings immediately, though is limited such that the revised carrying amount of the asset or cash-generating unit does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or cash generating unit. |
Description of accounting policy for provisions [text block] | (h) Provisions General 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 expense relating to any provision is presented in profit or loss net of any reimbursement. Provisions are discounted using a current risk-free pre-tax rate that reflects where appropriate the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. Decommissioning and Rehabilitation Provision The Corporation recognizes a decommissioning and rehabilitation provision for statutory, contractual, constructive or legal obligations to undertake reclamation and closure activities associated with property, plant, equipment and mineral properties, generally at the time that an environmental or other site disturbance occurs or a constructive obligation for reclamation and closure activities is determined. When the extent of disturbance increases over the life of an operation, the provision is increased accordingly. Provisions are measured at the present value of the expected future expenditures required to settle the obligation, using a risk-free pre-tax discount rate reflecting the time value of money and risks specific to the liability. The liability is increased for the passage of time, and adjusted for changes to the current market-based risk-free discount rate as well as changes in the estimated amount or timing of the expected future expenditures. The associated restoration costs are capitalized as part of the carrying amount of the related asset and then depreciated accordingly. |
Description of accounting policy for recognition of revenue [text block] | (i) Revenue Recognition All revenue is measured at the fair value of the consideration received or receivable when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the Corporation, and is subject to the provision that ultimate collection be reasonably assured at the time of recognition. Revenue from environmental services is recognized with reference to the stage of completion, based on an output appropriate to the particular service contract, such as performance of agreed service deliverables, or provision of billable hours under straight hourly bill contracts. Payments received prior to recognition of the related revenue are recorded as deferred revenue. |
Description of accounting policy for share-based payment transactions [text block] | (j) Share-Based Compensation and Payments The cost of incentive share options and other equity-settled share-based compensation and payment arrangements is recorded based on the estimated fair value at the grant date and charged to earnings over the vesting period. With respect to incentive share options, grant-date fair value is measured using the Black-Scholes option pricing model. With respect to restricted share units, grant-date fair value is determined by reference to the share price of the Corporation at the date of grant. Where share-based compensation awards are subject to vesting, each vesting tranche is considered a separate award with its own vesting period and grant-date fair value. Share-based compensation expense is recognized over the tranche’s vesting period by a charge to earnings, based on the number of awards expected to vest. The number of awards expected to vest is reviewed at least annually, with any impact being recognized immediately. |
Description of accounting policy for flow through shares [Text Block] | (k) Flow-Through Shares The proceeds from the offering of flow-through shares are allocated between the shares and the sale of tax benefits when the shares are offered. The allocation is made based on the difference between the market value of the shares and the amount the investors pay for the flow-through shares. A liability is recognized for the premium paid by the investors and is then recognized in the results of operations in the period the eligible exploration expenditures are incurred. |
Description of accounting policy for warrants [text block] | (l) Warrants When the Corporation issues units that are comprised of a combination of shares and warrants, the value is assigned to shares and warrants based on their relative fair values. The fair value of the shares is determined by the closing price on the date of the transaction and the fair value of the warrants is determined based on a Black-Scholes option pricing model. |
Description of accounting policy for income tax [text block] | (m) Current and Deferred Income Taxes Income tax expense comprises current and deferred income taxes. Current and deferred income taxes are recognized in profit or loss except to the extent that they relate to a business combination or to items recognized directly in equity or in other comprehensive income. Current income taxes are the expected taxes payable or receivable on the taxable income or loss for the period, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of previous periods. Deferred income taxes are recognized using the liability method, on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. However, deferred income taxes are not recognized if they arise from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit nor loss. Deferred income taxes are determined using tax rates and laws that have been enacted or substantively enacted at the reporting date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets and liabilities are presented as non-current in the financial statements. Deferred income tax assets and liabilities are offset if there is a legally enforceable right of offset, 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. Deferred income tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the assets can be utilized. |
Description of accounting policy for foreign currency translation [text block] | (n) Translation of Foreign Currencies The financial statements of each entity in the group are measured using the currency of the primary economic environment in which each entity operates (the “functional currency”). The consolidated financial statements are presented in Canadian dollars. The functional currency of all entities in the Corporation group other than AWE is the Canadian dollar, while the functional currency of AWE is the United States dollar. The financial statements of AWE are translated into the Canadian dollar presentation currency using the current rate method as follows: ⋅ Assets and liabilities at the closing rate at the date of the statement of financial position. ⋅ Income and expenses at the average rate of the period (as this is considered a reasonable approximation to actual rates). ⋅ All resulting changes are recognized in other comprehensive income as cumulative translation adjustments. When the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, foreign exchange gains and losses arising from the item are considered to form part of the net investment in a foreign operation and are recognized in other comprehensive income. When an entity disposes of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the foreign currency gains or losses accumulated in other comprehensive income related to the foreign operation are recognized in profit or loss. If an entity disposes of part of an interest in a foreign operation which remains a subsidiary, a proportionate amount of foreign currency gains or losses accumulated in other comprehensive income related to the subsidiary is reallocated between controlling and non-controlling interests. |
Description of accounting policy for earnings per share [text block] | (o) Earnings or Loss Per Share Basic earnings per share is calculated by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated using the treasury share method whereby all “in the money” options, warrants and equivalents are assumed to have been exercised at the beginning of the period and the proceeds from the exercise are assumed to have been used to purchase common shares at the average market price during the period. |
Description of accounting policy for financial instruments [text block] | (p) Financial Instruments Financial assets and financial liabilities, including derivative instruments, are initially recognized at fair value on the balance sheet when the Corporation becomes a party to their contractual provisions. Measurement in subsequent periods depends on the financial instrument’s classification. Loans and Receivables Cash and cash equivalents and accounts and other receivables (other than embedded derivatives) are measured at amortized cost. Where necessary, accounts and other receivables are recorded net of allowances for uncollectible amounts. Financial Assets at Fair Value Through Profit or Loss Derivative instruments, including embedded derivatives included within accounts receivable arising from sales of concentrates, are classified as fair value through profit or loss and accordingly are measured at fair value. Unrealized gains and losses on embedded derivatives arising from the sale of concentrates are recognized as adjustments to revenue. Unrealized gains and losses on other derivatives, if any, are recorded as part of other gains or losses in earnings. Held-to-Maturity Investments Investments, including term deposits not included in cash equivalents, with fixed or determinable payments and fixed maturity and which the Corporation has the intention and ability to hold to maturity are classified as held to maturity and thus are measured at amortized cost using the effective interest method. Available-for-Sale Financial Assets Investments are designated as available-for-sale and measured at fair value, with unrealized and realized gains and losses recognized in other comprehensive income. Available-for-sale investments are recorded as current assets unless management intends to hold them for a period longer than twelve months from the balance sheet date. Financial Liabilities Financial liabilities include accounts payable and accrued liabilities, and are measured at amortized cost using the effective interest method. Financial liabilities are classified as current liabilities if payment is due within twelve months. Otherwise, they are presented as non-current liabilities. Impairment and Uncollectibility of Financial Assets At each reporting date, the Corporation assesses whether there is objective evidence of impairment of any financial asset measured at other than fair value, or available for sale financial assets where a decline in fair value has been recognized in other comprehensive income. If such evidence exists, the Corporation recognizes an impairment loss. Impairment losses on financial assets carried at amortized cost or a debt instrument carried as available-for-sale are reversed in subsequent periods if the amount of the loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized. Impairments relating to investments in available-for-sale equity instruments are not reversed through profit or loss. |
Description of accounting policy for fair value measurement [text block] | (q) Fair Value Measurement Where fair value is used to measure assets and liabilities in preparing these financial statements, it is estimated at the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions. Fair values are determined from inputs that are classified within the fair value hierarchy defined under IFRS as follows: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 Inputs for the asset or liability that are unobservable |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Disclosure of detailed information about property, plant and equipment Useful Life [Text Block] | Depreciation of property, plant and equipment is calculated using the following methods: Heavy machinery and equipment 5 years straight-line Land and buildings 20 years straight-line Leasehold improvements & Other Over the term of lease, and 2 5 years straight-line Roads, Camp and other site infrastructure 5 -10 years straight-line Ore-processing mill components Variously between 5 and 30 years straight-line |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Disclosure of cash and bank balances at central banks [text block] | December 31 December 31 Cash at bank and on hand $ 6,019 $ 6,484 Short-term bank deposits 11,887 13,898 $ 17,906 $ 20,382 |
Accounts and Other Receivables
Accounts and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounts and Other Receivables [Abstract] | |
Schedule Of Accounts And Other Receivables [Text Block] | December 31 December 31 Trade receivables $ 1,988 $ 2,760 Interest and other 99 179 Less: allowance for doubtful accounts (1) (1) $ 2,086 $ 2,938 |
Restricted Cash and Deposits (T
Restricted Cash and Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Restricted Cash and Deposits [Abstract] | |
Schedule Of Restricted Cash And Cash Equivalent [Text Block] | December 31 December 31 Security for remediation services agreement $ 499 $ 534 Security for decommissioning obligations 6,507 6,328 Other 86 86 Restricted cash and deposits 7,092 6,948 Less: Current portion 499 - $ 6,593 $ 6,948 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Investments [Abstract] | |
Schedule of Investments [Text Block] | December 31 December 31 Common shares held $ 673 $ 365 Warrants held 1,082 1,326 Investments 1,755 1,691 Less: Current Portion 728 1,691 $ 1,027 $ - |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Classes of current inventories [abstract] | |
Disclosure of Detailed Information on inventories [Text Block] | December 31 December 31 Ore in stockpiles and mining supplies $ 4,743 $ 5,110 Materials and supplies 646 151 Inventory 5,389 5,261 Less: Current portion 646 151 $ 4,743 $ 5,110 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Disclosure of detailed information about property, plant and equipment [text block] | Cost Land and Camp, Ore Heavy Leasehold Total December 31, 2015 $ 1,364 $ 5,213 $ 20,402 $ 6,707 $ 1,322 $ 35,008 Additions - - - - 72 72 Decommission change in estimate - - (106) - - (106) Disposals - - - (55) - (55) December 31, 2016 $ 1,364 $ 5,213 $ 20,296 $ 6,652 $ 1,394 $ 34,919 Additions 345 14 13 1,594 34 2,000 December 31, 2017 $ 1,709 $ 5,227 $ 20,309 $ 8,246 $ 1,428 $ 36,919 Accumulated Land and Camp, Ore Heavy Leasehold Total December 31, 2015 $ 215 $ 3,946 $ 7,788 $ 5,759 $ 1,208 $ 18,916 Depreciation 60 410 1,040 542 31 2,083 Disposal - - - (47) - (47) December 31, 2016 $ 275 $ 4,356 $ 8,828 $ 6,254 $ 1,239 $ 20,952 Depreciation 75 286 1,040 384 43 1,828 December 31, 2017 $ 350 $ 4,642 $ 9,868 $ 6,638 $ 1,282 $ 22,780 Net book Value Land and Camp, Ore Heavy Leasehold Total December 31, 2016 $ 1,089 $ 857 $ 11,468 $ 398 $ 155 $ 13,967 December 31, 2017 $ 1,359 $ 585 $ 10,441 $ 1,608 $ 146 $ 14,139 |
Mineral Properties (Tables)
Mineral Properties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Mineral Properties [Abstract] | |
Disclosure of detailed information about investment property [text block] | December 31 Expenditures December 31 Mineral Properties Keno Hill District Properties Bellekeno $ 8,804 $ 76 $ 8,880 Lucky Queen 2,113 130 2,243 Onek 321 16 337 McQuesten (i) 3,814 73 3,886 Silver King 7,154 - 7,154 Flame & Moth 21,966 489 22,455 Bermingham 15,193 8,184 23,377 Elsa Tailings 884 - 884 Other Keno Hill Properties 5,410 - 5,410 Other 190 - 190 Total $ 65,849 $ 8,967 $ 74,816 December 31 Expenditures December 31 Mineral Properties Keno Hill District Properties Bellekeno $ 8,833 $ (29) $ 8,804 Lucky Queen 1,958 155 2,113 Onek 289 32 321 McQuesten (i) 3,794 20 3,814 Silver King 7,154 - 7,154 Flame & Moth 20,912 1,054 21,966 Bermingham 11,059 4,134 15,193 Elsa Tailings 884 - 884 Other Keno Hill Properties 5,410 - 5,410 Other 190 - 190 Total $ 60,483 $ 5,366 $ 65,849 (i) Effective May 24, 2017, the Corporation entered into an Option Agreement with Banyan Gold Corp. (“Banyan”) to option up to 100 100 2,600,000 338,954 1,600,000 2,600,000 6 7,000,000 1 3 |
Schedule Of Changes In Mineral Properties [Text Block] | Mining Exploration and Total December 31, 2017 Cost $ 130,387 $ 70,366 $ 200,753 Accumulated depletion and write-downs (118,927) (7,010) (125,937) Net book value $ 11,460 $ 63,356 $ 74,816 December 31, 2016 Cost $ 130,165 $ 61,621 $ 191,786 Accumulated depletion and write-downs (118,927) (7,010) (125,937) Net book value $ 11,238 $ 54,611 $ 65,849 |
Accounts payable and accrued 41
Accounts payable and accrued liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounts Payables And Accrued Liabilities [Abstract] | |
Schedule Of Accounts Payable And Accrued Liabilities [Text Block] | December 31 December 31 Trade payables $ 1,468 $ 814 Accrued liabilities and other 2,133 1,016 $ 3,601 $ 1,830 |
Silver Streaming Interest (Tabl
Silver Streaming Interest (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Silver Streaming Interest [Abstract] | |
Schedule of Silver Stream Interest [Text Block] | December 31 December 31 Balance Silver Stream Interest $ 18,118 $ 18,118 Less: Embedded derivative asset (6,600) - $ 11,518 $ 18,118 |
Decommissioning and Rehabilit43
Decommissioning and Rehabilitation Provision (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of other provisions [abstract] | |
Disclosure of detailed information about decommissioning and rehabilitation provision [Text Block] | December 31 December 31 Balance beginning of year $ 4,955 $ 5,111 (Decrease) increase due to re-estimation 37 (220) Accretion expense, included in finance costs 63 64 Balance end of year $ 5,055 $ 4,955 |
Capital and Reserves (Tables)
Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Capital and reserves [Line Items] | |
Disclosure of number and weighted average exercise prices of share options [text block] | The changes in incentive share options outstanding are summarized as follows: Weighted Number of Amount Balance December 31, 2016 $ 2.48 6,175,995 $ 6,996 Stock options granted $ 2.31 1,645,500 - Share based compensation expense - - 2,204 Options exercised $ 1.28 (126,332) (78) Options forfeited or expired $ 4.78 (1,148,497) (2,864) Balance December 31, 2017 $ 2.06 6,546,666 $ 6,258 Balance December 31, 2015 $ 3.20 4,444,497 $ 6,906 Stock options granted $ 1.11 2,537,500 - Share based compensation expense - - 1,018 Options exercised $ 0.72 (316,669) (111) Options forfeited or expired $ 3.01 (489,333) (817) Balance December 31, 2016 $ 2.48 6,175,995 $ 6,996 |
Disclosure of range of exercise prices of outstanding share options [text block] | Options Outstanding Options Exercisable Exercise Price Number of Average Average Number of Average $ 0.60 35,000 1.96 $ 0.60 35,000 $ 0.60 $ 0.60 1,085,333 2.12 $ 0.60 1,085,333 $ 0.60 $ 0.84 1,640,833 3.12 $ 0.84 1,093,889 $ 0.84 $ 1.73 600,000 3.44 $ 1.73 600,000 $ 1.73 $ 1.75 42,000 4.63 $ 1.75 10,500 $ 1.75 $ 1.78 150,000 3.49 $ 1.78 150,000 $ 1.78 $ 1.94 496,500 1.12 $ 1.94 496,500 $ 1.94 $ 2.32 1,601,500 4.09 $ 2.32 800,750 $ 2.32 $ 4.16 336,000 0.06 $ 4.16 336,000 $ 4.16 $ 7.10 556,000 0.03 $ 7.10 556,000 $ 7.10 $ 8.13 3,500 0.35 $ 8.13 3,500 $ 8.13 6,546,666 2.66 $ 2.06 5,167,472 $ 2.15 |
Warrants [Member] | |
Capital and reserves [Line Items] | |
Disclosure of number and weighted average exercise prices of other equity instruments [text block] | The changes in warrants outstanding are summarized as follows: Expiry Date Exercise Balance at Issued Exercised Balance at December 8, 2017 $ 0.53 323,362 - (323,362) - May 17, 2018 $ 1.75 5,008,336 - (139,716) 4,868,620 May 17, 2018 $ 1.49 60,900 - - 60,900 May 30, 2019 $ 2.15 - 126,174 - 126,174 $ 1.76 5,392,598 126,174 (463,078) 5,055,694 |
Restricted Share Units [Member] | |
Capital and reserves [Line Items] | |
Disclosure of number and weighted average exercise prices of other equity instruments [text block] | The changes in RSUs outstanding are summarized as follows: Number of Amount Balance December 31, 2016 452,951 $ 220 RSUs granted 235,000 - Share-based compensation expense recognized - 524 RSUs vested (289,625) (343) Balance December 31, 2017 398,326 $ 401 Balance December 31, 2015 360,903 $ 471 RSUs granted 295,000 - Share-based compensation expense recognized - 213 RSUs vested (202,952) (464) Balance December 31, 2016 452,951 $ 220 |
General and Administrative Ex45
General and Administrative Expenses by Nature of Expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of General And Administrative Expenses [Abstract] | |
Schedule Of General And Administrative Expenses [Text Block] | The Corporation recorded general and administrative expenses for the years ended December 31, 2017 and 2016 as follows: Corporate 2017 2016 General and administrative expenses Depreciation $ 89 $ 84 Amortization of intangible assets 13 13 Business development and investor relations 567 419 Office, operating and non-operating overheads 682 603 Professional 433 647 Regulatory 309 159 Restructuring costs 1,353 - Salaries and contractors 2,112 1,416 Share-based compensation 2,305 914 Travel 301 220 $ 8,164 $ 4,475 Environmental Services General and administrative expenses Depreciation $ 19 $ 32 Amortization of intangible assets 59 98 Business development and investor relations 164 75 Office, operating and non-operating overheads 756 748 Professional 29 39 Salaries and contractors 1,657 1,837 Share-based compensation - 161 Travel 94 49 $ 2,778 $ 3,039 Total General and Administrative Expenses $ 10,942 $ 7,514 |
Mine Site Care and Maintenance
Mine Site Care and Maintenance (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of exploration and evaluation assets [Abstract] | |
Schedule of mine site care and maintenance expenses [Text Block] | The Corporation recorded mine site care and maintenance expenses for the years ended December 31, 2017 and 2016 as follows: 2017 2016 Mine site care and maintenance Depreciation $ 1,366 $ 1,602 Office, operating and non-operating overheads 357 274 Other expenses - 78 $ 1,723 $ 1,954 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of income tax [Abstract] | |
Detailed Information for Reconciliation Of Income Tax Provision [Text Block] | The income tax provision differs from the amount that would result from applying the Canadian federal and provincial tax rate to income before taxes. These differences result from the following items: 2017 2016 Accounting loss before taxes $ (6,176) $ (3,967) Federal and provincial income tax rate of 26% (2016 26%) (1,605) (1,031) Non-deductible permanent differences 495 (53) Differences in foreign exchange rates - (95) Effect of difference in tax rates 2,488 (131) Change in deferred tax asset not recognized (1,075) 1,424 Flow-through share renunciation 1,040 594 Change in estimate (72) (396) Other 201 80 1,472 1,423 Income tax provision $ 1,472 $ 392 |
Disclosure of temporary difference, unused tax losses and unused tax credits [text block] | The movement in deferred tax assets and liabilities during the year by type of temporary difference, without taking into consideration the offsetting balances within the same tax jurisdiction, is as follows: Deferred tax liabilities Mineral Inventory Property, Other Total December 31, 2015 $ (4,712) $ (126) $ (1,365) $ (1,219) $ (7,422) Charged to the income statement (1,425) - (140) (50) (1,615) Charged to OCI - - - 119 119 December 31, 2016 $ (6,137) $ (126) $ (1,505) $ (1,150) $ (8,918) (Charged) credited to the income statement (1,390) 13 41 41 (1,295) December 31, 2017 $ (7,527) $ (113) $ (1,464) $ (1,109) $ (10,213) Deferred tax assets Mineral Loss Property, Decommissioning Other Total December 31, 2015 $ 592 $ 2,757 $ 316 $ 1,533 $ 1,440 $ 6,638 Credited (charged) to the income statement 178 1,524 (173) (48) (561) 920 Charged to OCI - - - - (80) (80) December 31, 2016 $ 770 $ 4,281 $ 143 $ 1,485 $ 799 $ 7,478 Credited (charged) to the income statement 69 (13) (66) (121) (775) (906) Charged to OCI - - - - 637 637 December 31, 2017 $ 839 $ 4,268 $ 77 $ 1,364 $ 661 $ 7,209 Net deferred tax liabilities December 31, 2016 $ (1,440) Charged to the income statement (2,201) Charged to OCI 637 December 31, 2017 $ (3,004) |
Detailed Information Of Unrecognised Tax Attributes [Text Block] | At December 31, 2017, the Corporation has unrecognized tax attributes, noted below, that are available to offset future taxable income. The Company has not recognizing the deferred tax asset on these temporary differences because they relate to entities within the group that have a history of losses and there is not yet adequately convincing evidence that these entities will generate sufficient future taxable income to enable offset. Tax loss carry forwards $ 40,604 Mineral property interest 24,518 Other 8,431 $ 73,553 |
Disclosure Of Detailed Information Of Unrecognised And Unused Tax Losses [Text Block] | As at December 31, 2017, the Corporation has available non-capital losses for income tax purposes in Canada which are available to be carried forward to reduce taxable income in future years and for which no deferred income tax asset has been recognized, and which expire as follows: Canada Total 2029 3,195 3,195 2030 3,397 3,397 2031 421 421 2032 88 88 2033 2,222 2,222 2034 9,520 9,520 2035 6,751 6,751 2036 6,687 6,687 2037 8,323 8,323 $ 40,604 $ 40,604 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Financial Instrument [Abstract] | |
Disclosure of fair value measurement of assets [text block] | Information regarding the carrying amounts of the Corporation’s financial assets and liabilities is summarized as follows: Fair Value December 31 December 31 Fair value through profit or loss Warrants held-for-trading Level 2 $ 1,082 $ 1,326 Embedded derivative - Wheaton agreement Level 3 $ 6,600 - Available-for-sale Investment in marketable securities Level 1 $ 673 $ 365 $ 8,355 $ 1,691 |
Disclosure of internal credit grades [text block] | The Corporation is exposed to currency risk at the balance sheet date through the following financial assets and liabilities, which are denominated in US dollars: December 31 December 31 Cash and cash equivalents $ 1,336 $ 3,023 Accounts and other receivable 510 972 Accounts payable and accrued liabilities (298) (391) Net exposure $ 1,548 $ 3,604 |
Disclosure of credit risk exposure [text block] | Credit risk is the risk of financial loss to the Corporation if a customer or counterparty to a financial instrument fails to meet its obligations. The Corporation’s maximum exposure to credit risk at the balance sheet date under its financial instruments is summarized as follows: December 31 December 31 Trade receivables, net of provision Currently due $ 1,035 $ 857 Past due by 90 days or less, not impaired 940 1,315 Past due by greater than 90 days, not impaired 13 32 1,988 2,204 Cash 6,019 6,484 Demand deposits 11,887 13,898 Term deposits 7,092 6,948 $ 26,986 $ 29,534 |
Disclosure of maturity analysis for non-derivative financial liabilities [text block] | The Corporation’s financial liabilities are comprised of its accounts payable and accrued liabilities, the contractual maturities of which at the balance sheet date are summarized as follows: December 31 December 31 Accounts payable and accrued liabilities with contractual maturities Within 90 days or less $ 3,601 $ 1,830 In later than 90 days, not later than one year - - $ 3,601 $ 1,830 |
Supplemental Cash Flow Inform49
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Cash Flow Statement Explanatory [Abstract] | |
Schedule Of Supplimental Cash Flow Information [Text Block] | Supplemental cash flow information with respect to the years ended December 31, 2017 and 2016 is summarized as follows: 2017 2016 Operating Cash Flows Arising From Interest and Taxes Interest received $ 221 $ 63 Non-Cash Investing and Financing Transactions Capitalization of share-based compensation to mineral properties $ 369 $ 136 Capitalization of depreciation to mineral properties $ 265 $ 119 Capitalization of re-estimation of decommissioning and rehabilitation provision $ 37 $ (220) Increase (decrease) in non-cash working capital related to: Mining operations properties $ (1,130) $ 54 Exploration and evaluation properties $ (23) $ - |
Segmented Information (Tables)
Segmented Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of operating segments [abstract] | |
Disclosure of operating segments [text block] | Revenue from non-Canadian customers of both operating segments was derived primarily from the United States. As at and for the year ended Environmental Mining Corporate and Total Segment revenues External customers Canadian $ 5,881 $ - $ - $ 5,881 Non-Canadian 4,851 - - 4,851 Total revenues as reported 10,732 - - 10,732 Cost of sales 6,732 - - 6,732 Gross profit as reported 4,000 - - 4,000 Depreciation and amortization 79 - 101 180 Share-based compensation - - 2,305 2,305 Other G&A expenses 2,700 - 4,404 7,104 Mine site care and maintenance - 1,723 - 1,723 Restructuring Costs 1,353 1,353 Foreign exchange loss (gain) (1,080) (4) 120 (964) Gain on investments - (1,341) (1,341) Other (income) loss 250 (247) (187) (184) Segment income (loss) before taxes $ 2,051 $ (1,472) $ (6,755) $ (6,176) (i) . Total assets $ 6,198 $ 99,815 $ 17,823 $ 123,836 Total liabilities $ 1,642 $ 20,670 $ 1,464 $ 23,776 As at and for the year ended Environmental Mining Corporate and Total Segment revenues External customers Canadian $ 6,754 $ - $ - $ 6,754 Non-Canadian 4,607 - - 4,607 Total revenues as reported 11,361 - - 11,361 Cost of sales 8,495 - - 8,495 Gross profit as reported 2,866 - - 2,866 Depreciation and amortization 130 - 97 227 Share-based compensation 161 - 914 1,075 Other G&A expenses 2,748 - 3,464 6,212 Mine site care and maintenance - 1,954 - 1,954 Foreign exchange loss (gain) (2) - 139 137 Gain on investments - - (2,742) (2,742) Other (income) loss (1) 46 (75) (30) Segment loss before taxes $ (170) $ (2,000) $ (1,797) $ (3,967) (i) Total assets $ 5,413 $ 91,738 $ 20,481 $ 117,632 Total liabilities $ 1,455 $ 24,735 $ 769 $ 26,959 (i) Represents consolidated loss before taxes. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [text block] | The Corporation’s related parties include its subsidiaries and key management personnel. Key management personnel compensation for the years ended December 31, 2017 and 2016 was as follows: (a) Key Management Personnel Compensation 2017 2016 Salaries and other short-term benefits $ 2,246 $ 1,765 Share-based compensation 2,072 1,079 $ 4,318 $ 2,844 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Disclosure of finance lease and operating lease by lessee [text block] | As at December 31, 2017, the Corporation’s contractual obligations are as follows: (a) The Corporation has entered into various operating lease contracts for office space, motor vehicles and office equipment. The future minimum payments under these leases as are as follows: 2018 $ 341 2019 296 Thereafter 95 $ 732 |
Summary of Significant Accoun53
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Land and buildings [member] | |
Disclosure of significant accounting policies [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 20 years straight-line |
Leasehold Improvements [Member] | |
Disclosure of significant accounting policies [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | Over the term of lease, and 2 – 5 years straight-line |
Heavy machinery and equipment [Member] | |
Disclosure of significant accounting policies [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 5 years straight-line |
Roads, Camp and other site infrastructure [Member] | |
Disclosure of significant accounting policies [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | 5 -10 years straight-line |
Ore-processing mill components [Member] | |
Disclosure of significant accounting policies [Line Items] | |
Useful lives or depreciation rates, property, plant and equipment | Variously between 5 and 30 years straight-line |
New and Revised Accounting St54
New and Revised Accounting Standards (Details Textual) | Jan. 02, 2018CAD ($) | Dec. 31, 2017USD ($) |
New and Revised Accounting Standards [Line Items] | ||
Increase (decrease) through transfer between revaluation surplus and retained earnings, equity | $ 0 | |
Adjustments of initial deposits against mineral interest | $ 50,000,000 | |
Transaction price allocated to remaining performance obligations | $ 3.90 | |
Subsequent Events [Member] | ||
New and Revised Accounting Standards [Line Items] | ||
Increase (decrease) through transfer between revaluation surplus and retained earnings, equity | $ 0 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents [Abstract] | |||
Cash at bank and on hand | $ 6,019 | $ 6,484 | |
Short-term bank deposits | 11,887 | 13,898 | |
Cash and cash equivalents | $ 17,906 | $ 20,382 | $ 8,163 |
Accounts and Other Receivable56
Accounts and Other Receivables (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts and Other Receivables [Abstract] | ||
Trade receivables | $ 1,988 | $ 2,760 |
Interest and other | 99 | 179 |
Less: allowance for doubtful accounts | (1) | (1) |
Trade and other current receivables | $ 2,086 | $ 2,938 |
Restricted Cash and Deposits (D
Restricted Cash and Deposits (Details) $ in Thousands | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2016USD ($) |
Restricted Cash and Deposits [Abstract] | ||||
Security for remediation services agreement | $ 499 | $ 398,000 | $ 534 | $ 398,000 |
Security for decommissioning obligations | 6,507 | 6,328 | ||
Other | 86 | 86 | ||
Restricted cash and deposits | 7,092 | 6,948 | ||
Less: Current portion | 499 | 0 | ||
Non-current restricted cash and cash equivalents | $ 6,593 | $ 6,948 |
Restricted Cash and Deposits 58
Restricted Cash and Deposits (Details Textual) $ in Thousands | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2016USD ($) |
Disclosure of restricted cash and deposits [Line Items] | ||||
Security for remediation services agreement | $ 499 | $ 398,000 | $ 534 | $ 398,000 |
Security for decommissioning obligations | $ 6,507 | $ 6,328 |
Investments (Details)
Investments (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments [Line Items] | ||
Investments other than investments accounted for using equity method | $ 1,755 | $ 1,691 |
Current investments | 728 | 1,691 |
Non-current investments other than investments accounted for using equity method | 1,027 | 0 |
Common shares held [member] | ||
Disclosure of Investments [Line Items] | ||
Investments other than investments accounted for using equity method | 673 | 365 |
Warrants held [member] | ||
Disclosure of Investments [Line Items] | ||
Investments other than investments accounted for using equity method | $ 1,082 | $ 1,326 |
Investments (Details Textual)
Investments (Details Textual) - CAD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | May 30, 2017 | May 17, 2016 | |
Disclosure of Investments [Line Items] | ||||
Number of shares issued | 4,205,820 | 10,839,972 | ||
Gains on disposals of investments | $ 1,341,000 | $ 2,742,000 | ||
Golden Predator Mining Corp [Member] | ||||
Disclosure of Investments [Line Items] | ||||
Number of shares issued | 300,000 | 473,500 | ||
Gains on disposals of investments | $ 1,204,000 | $ 111,000 | ||
Banyan Gold corp [Member] | ||||
Disclosure of Investments [Line Items] | ||||
Number of shares issued | 4,775,000 | 0 | ||
Warrants [Member] | ||||
Disclosure of Investments [Line Items] | ||||
Gains (losses) recognised in profit or loss, fair value measurement, assets | $ 137,000 | $ 224,000 | ||
Warrants [Member] | Golden Predator Mining Corp [Member] | ||||
Disclosure of Investments [Line Items] | ||||
Number of shares issued | 1,425,000 | 2,125,000 | ||
Warrants [Member] | Golden Predator Mining Corp [Member] | Bottom of range [member] | ||||
Disclosure of Investments [Line Items] | ||||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 0.15 | |||
Warrants [Member] | Golden Predator Mining Corp [Member] | Top of range [member] | ||||
Disclosure of Investments [Line Items] | ||||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | 1 | |||
Warrants [Member] | Banyan Gold corp [Member] | ||||
Disclosure of Investments [Line Items] | ||||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 0.115 | |||
Number of shares issued | 4,375,000 | 0 |
Inventories (Details)
Inventories (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Classes of current inventories [abstract] | ||
Ore in stockpiles and mining supplies | $ 4,743 | $ 5,110 |
Materials and supplies | 646 | 151 |
Inventories | 5,389 | 5,261 |
Less: Current portion | 646 | 151 |
Non-current inventories | $ 4,743 | $ 5,110 |
Property, Plant and Equipment62
Property, Plant and Equipment (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | $ 13,967 | |
Depreciation, property, plant and equipment | 1,828 | $ 2,083 |
Property, plant and equipment, Ending Balance | 14,139 | 13,967 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 34,919 | 35,008 |
Additions other than through business combinations, property, plant and equipment | 2,000 | 72 |
Increase (decrease) through other changes, property, plant and equipment | (106) | |
Disposals, property, plant and equipment | (55) | |
Property, plant and equipment, Ending Balance | 36,919 | 34,919 |
Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 20,952 | 18,916 |
Disposals, property, plant and equipment | 2,083 | |
Depreciation, property, plant and equipment | 1,828 | |
Decrease through classified as held for sale, property, plant and equipment | (47) | |
Property, plant and equipment, Ending Balance | 22,780 | 20,952 |
Land and Buildings [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 1,359 | 1,089 |
Property, plant and equipment, Ending Balance | 1,359 | |
Land and Buildings [Member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 1,364 | 1,364 |
Additions other than through business combinations, property, plant and equipment | 345 | 0 |
Increase (decrease) through other changes, property, plant and equipment | 0 | |
Disposals, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 1,709 | 1,364 |
Land and Buildings [Member] | Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 275 | 215 |
Disposals, property, plant and equipment | 60 | |
Depreciation, property, plant and equipment | 75 | |
Decrease through classified as held for sale, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 350 | 275 |
Camp, Roads, and Other Site [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 585 | 857 |
Property, plant and equipment, Ending Balance | 585 | |
Camp, Roads, and Other Site [Member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 5,213 | 5,213 |
Additions other than through business combinations, property, plant and equipment | 14 | 0 |
Increase (decrease) through other changes, property, plant and equipment | 0 | |
Disposals, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 5,227 | 5,213 |
Camp, Roads, and Other Site [Member] | Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 4,356 | 3,946 |
Disposals, property, plant and equipment | 410 | |
Depreciation, property, plant and equipment | 286 | |
Decrease through classified as held for sale, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 4,642 | 4,356 |
Ore-Processing Mill [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 10,441 | 11,468 |
Property, plant and equipment, Ending Balance | 10,441 | |
Ore-Processing Mill [Member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 20,296 | 20,402 |
Additions other than through business combinations, property, plant and equipment | 13 | 0 |
Increase (decrease) through other changes, property, plant and equipment | (106) | |
Disposals, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 20,309 | 20,296 |
Ore-Processing Mill [Member] | Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 8,828 | 7,788 |
Disposals, property, plant and equipment | 1,040 | |
Depreciation, property, plant and equipment | 1,040 | |
Decrease through classified as held for sale, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 9,868 | 8,828 |
Heavy machinery and equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 398 | |
Property, plant and equipment, Ending Balance | 1,608 | 398 |
Heavy machinery and equipment [Member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 6,652 | 6,707 |
Additions other than through business combinations, property, plant and equipment | 1,594 | 0 |
Increase (decrease) through other changes, property, plant and equipment | 0 | |
Disposals, property, plant and equipment | (55) | |
Property, plant and equipment, Ending Balance | 8,246 | 6,652 |
Heavy machinery and equipment [Member] | Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 6,254 | 5,759 |
Disposals, property, plant and equipment | 542 | |
Depreciation, property, plant and equipment | 384 | |
Decrease through classified as held for sale, property, plant and equipment | (47) | |
Property, plant and equipment, Ending Balance | 6,638 | 6,254 |
Leasehold Improvements & Other [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 155 | |
Property, plant and equipment, Ending Balance | 146 | 155 |
Leasehold Improvements & Other [Member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 1,394 | 1,322 |
Additions other than through business combinations, property, plant and equipment | 34 | 72 |
Increase (decrease) through other changes, property, plant and equipment | 0 | |
Disposals, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | 1,428 | 1,394 |
Leasehold Improvements & Other [Member] | Accumulated Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, Beginning Balance | 1,239 | 1,208 |
Disposals, property, plant and equipment | 31 | |
Depreciation, property, plant and equipment | 43 | |
Decrease through classified as held for sale, property, plant and equipment | 0 | |
Property, plant and equipment, Ending Balance | $ 1,282 | $ 1,239 |
Property, Plant and Equipment63
Property, Plant and Equipment (Details Textual) $ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2016USD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation, property, plant and equipment | $ 1,828 | $ 2,083 | |
Depreciation expense | 1,563 | 1,964 | |
Mining property [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation, property, plant and equipment | 265 | $ 119 | |
Cost of Sales [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation expense | 142 | 246 | |
General Expenses And Site Maintenance [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation expense | $ 1,421 | $ 1,718 |
Mineral Properties (Details)
Mineral Properties (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | $ 65,849 | $ 60,483 | |
Mineral Properties, Expenditures Incurred | 8,967 | 5,366 | |
Mineral Properties, Ending Balance | 74,816 | 65,849 | |
Bellekeno [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 8,804 | 8,833 | |
Mineral Properties, Expenditures Incurred | 76 | (29) | |
Mineral Properties, Ending Balance | 8,880 | 8,804 | |
Lucky Queen [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 2,113 | 1,958 | |
Mineral Properties, Expenditures Incurred | 130 | 155 | |
Mineral Properties, Ending Balance | 2,243 | 2,113 | |
Onek [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 321 | 289 | |
Mineral Properties, Expenditures Incurred | 16 | 32 | |
Mineral Properties, Ending Balance | 337 | 321 | |
McQuesten [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | [1] | 3,814 | 3,794 |
Mineral Properties, Expenditures Incurred | [1] | 73 | 20 |
Mineral Properties, Ending Balance | [1] | 3,886 | 3,814 |
Silver King [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 7,154 | 7,154 | |
Mineral Properties, Expenditures Incurred | 0 | 0 | |
Mineral Properties, Ending Balance | 7,154 | 7,154 | |
Flame And Moth [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 21,966 | 20,912 | |
Mineral Properties, Expenditures Incurred | 489 | 1,054 | |
Mineral Properties, Ending Balance | 22,455 | 21,966 | |
Bermingham [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 15,193 | 11,059 | |
Mineral Properties, Expenditures Incurred | 8,184 | 4,134 | |
Mineral Properties, Ending Balance | 23,377 | 15,193 | |
Elsa Tailings [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 884 | 884 | |
Mineral Properties, Expenditures Incurred | 0 | 0 | |
Mineral Properties, Ending Balance | 884 | 884 | |
Other Keno Hill Properties [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 5,410 | 5,410 | |
Mineral Properties, Expenditures Incurred | 0 | 0 | |
Mineral Properties, Ending Balance | 5,410 | 5,410 | |
Other [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 190 | 190 | |
Mineral Properties, Expenditures Incurred | 0 | 0 | |
Mineral Properties, Ending Balance | $ 190 | $ 190 | |
[1] | Effective May 24, 2017, the Corporation entered into an Option Agreement with Banyan Gold Corp. (“Banyan”) to option up to 100% the McQuesten property. In three stages, Banyan may earn up to 100% of the McQuesten property, by incurring a minimum of $2,600,000 in exploration expenditures ($338,954 incurred), issue 1,600,000 shares (400,000 shares issued), pay a total of $2,600,000 in cash or shares and grant Alexco a 6% net smelter return (“NSR”) royalty with buybacks totalling $7,000,000 to reduce to a 1% NSR royalty on gold and 3% NSR royalty on silver. Any payments received are credited against the mineral property. |
Mineral Properties (Details 1)
Mineral Properties (Details 1) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | $ 74,816 | $ 65,849 | $ 60,483 |
Gross carrying amount [member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 200,753 | 191,786 | |
Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | (125,937) | (125,937) | |
Exploration and Evaluation Properties [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 63,356 | 54,611 | |
Exploration and Evaluation Properties [Member] | Gross carrying amount [member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 70,366 | 61,621 | |
Exploration and Evaluation Properties [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | (7,010) | (7,010) | |
Mining Operations Properties [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 11,460 | 11,238 | |
Mining Operations Properties [Member] | Gross carrying amount [member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 130,387 | 130,165 | |
Mining Operations Properties [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | $ (118,927) | $ (118,927) |
Mineral Properties (Details Tex
Mineral Properties (Details Textual) $ in Millions | 1 Months Ended | 12 Months Ended | ||
May 24, 2017CAD ($)shares | Dec. 31, 2017CAD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016CAD ($) | |
Disclosure of mineral properties [Line Items] | ||||
Percentage Of Mineral Property Ownership Acquisition | 100 | |||
Expense arising from exploration for and evaluation of mineral resources | $ 8,967,000 | $ 5,366,000 | ||
McQuesten [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Consideration receivable in the form of shares | shares | 400,000 | |||
McQuesten [Member] | Banyan Gold corp [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 6.00% | |||
Percentage of ownership interest in property offerred | 100.00% | |||
Expense arising from exploration for and evaluation of mineral resources | $ 338,954 | |||
Consideration receivable in the form of shares | shares | 1,600,000 | |||
Total consideration receivable in cash or shares | $ 2,600,000 | |||
Value of treasury stock investment | $ 7,000,000 | |||
McQuesten [Member] | Banyan Gold corp [Member] | Gold [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 1.00% | |||
McQuesten [Member] | Banyan Gold corp [Member] | Silver [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 3.00% | |||
Bottom of range [member] | McQuesten [Member] | Banyan Gold corp [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Expense arising from exploration for and evaluation of mineral resources | $ 2,600,000 | |||
UKHM mineral rights [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 1.50% | 1.50% | ||
Royalty Expenses Paid | $ 37,000 | |||
UKHM mineral rights [Member] | Top of range [member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Royalty Expense | 4,000,000 | $ 4 | ||
Income arising from exploration for and evaluation of mineral resources | $ 6,200,000 | |||
Non-UKHM mineral rights [Member] | McQuesten [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 2.00% | 2.00% | ||
Non-UKHM mineral rights [Member] | Top of range [member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 2.00% | 2.00% | ||
Non-UKHM mineral rights [Member] | Top of range [member] | Other Keno Hill Properties [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 1.50% | 1.50% | ||
Non-UKHM mineral rights [Member] | Bottom of range [member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 0.50% | 0.50% | ||
Non-UKHM mineral rights [Member] | Bottom of range [member] | Other Keno Hill Properties [Member] | ||||
Disclosure of mineral properties [Line Items] | ||||
Smelter Return Royalty Percentage | 1.00% | 1.00% |
Accounts payable and accrued 67
Accounts payable and accrued liabilities (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts Payables And Accrued Liabilities [Abstract] | ||
Trade payables | $ 1,468 | $ 814 |
Accrued liabilities and other | 2,133 | 1,016 |
Trade and other current payables | $ 3,601 | $ 1,832 |
Silver Streaming Interest (Deta
Silver Streaming Interest (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Silver Streaming Interest [Abstract] | ||
Balance - Silver Stream Interest | $ 18,118 | $ 18,118 |
Less: Embedded derivative asset | (6,600) | 0 |
Net Silver Streaming Interest | $ 11,518 | $ 18,118 |
Silver Streaming Interest (De69
Silver Streaming Interest (Details Textual) | 1 Months Ended | 12 Months Ended | |||
Mar. 29, 2017CAD ($)shares | Mar. 29, 2017USD ($)t$ / Ounce-ozshares | Oct. 02, 2008USD ($) | Dec. 31, 2017CAD ($)$ / perounce | Dec. 31, 2016 | |
Silver Streaming Interest [Line Items] | |||||
Percentage of Life of Mine Silver | 25.00% | 25.00% | |||
Proceeds From Up-front Deposit Payments | $ 50,000,000 | ||||
Proceeds From Further Up-front Deposit Payments | $ 3.90 | ||||
Silver Purchase Agreement, initial Term | 40 years | ||||
Actual monthly production payment,upper ceiling grade | 1,400 grams per tonne (“g/t”) | ||||
Percentage Of Interest Representing Future Production | 25.00% | ||||
Discount rate used in current estimate of value in use | 2.11% | 2.10% | |||
Number Of Shares Issued as a consideration to wheaton | shares | 3,000,000 | 3,000,000 | |||
Value Of Shares Issued as a consideration to wheaton | $ 6,600,000 | $ 4,934,948 | $ 6,600,000 | ||
Up front deposit amount | $ 50,000,000 | ||||
Production payment per ounce | $ / perounce | 3.90 | ||||
Top of range [member] | |||||
Silver Streaming Interest [Line Items] | |||||
Discount rate used in current estimate of value in use | 13.35% | ||||
Events Occurred After Reporting Period [Member] | |||||
Silver Streaming Interest [Line Items] | |||||
Mine and mill Completion per day | t | 400 | ||||
Obligation to pay capacity related refund | $ 8,788,000 | ||||
Reduction of mill throughput per day | t | 322 | ||||
Events Occurred After Reporting Period [Member] | Bottom of range [member] | |||||
Silver Streaming Interest [Line Items] | |||||
Actual monthly production payment,upper ceiling grade | 600 g/t | 600 g/t | 600 g/t | ||
Price of silver | $ / Ounce-oz | 13 | ||||
Events Occurred After Reporting Period [Member] | Top of range [member] | |||||
Silver Streaming Interest [Line Items] | |||||
Actual monthly production payment,upper ceiling grade | 1,400 grams per tonne (“g/t”) | 1,400 grams per tonne (“g/t”) | |||
Price of silver | $ / Ounce-oz | 25 |
Decommissioning and Rehabilit70
Decommissioning and Rehabilitation Provision (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Provision for decommissioning, restoration and rehabilitation costs [abstract] | ||
Balance - beginning of year | $ 4,955 | $ 5,111 |
(Decrease) increase due to re-estimation | 37 | (220) |
Accretion expense, included in finance costs | 63 | 64 |
Balance - end of year | $ 5,055 | $ 4,955 |
Decommissioning and Rehabilit71
Decommissioning and Rehabilitation Provision (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of decommissioning and rehabilitation provision [Line Items] | |||
Non-current restricted cash and cash equivalents | $ 6,593,000 | $ 6,948,000 | |
Discount rate used in current estimate of value in use | 2.11% | 2.10% | |
Actuarial assumption of expected rates of inflation | 2.00% | 2.00% | |
Non-current provision for decommissioning, restoration and rehabilitation costs | $ 6,187,000 | $ 6,056,000 | |
Expenditures to be incurred over certain years | 17 years | ||
Provision for decommissioning, restoration and rehabilitation costs | $ 5,055,000 | $ 4,955,000 | $ 5,111,000 |
Quartz Mining License [Member] | |||
Disclosure of decommissioning and rehabilitation provision [Line Items] | |||
Non-current restricted cash and cash equivalents | $ 6,499,000 |
Capital and Reserves (Details)
Capital and Reserves (Details) - Warrants [Member] | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Capital and reserves [Line Items] | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 1.76 |
Number of shares issued or issuable on vesting - Beginning Balance | 5,392,598 |
Number of other equity instruments granted in share-based payment arrangement | 126,174 |
Number of other equity instruments exercised or vested in share-based payment arrangement | (463,078) |
Number of shares issued or issuable on vesting - Ending Balance | 5,055,694 |
Expiry Date, December 8, 2017 [Member] | |
Capital and reserves [Line Items] | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 0.53 |
Number of shares issued or issuable on vesting - Beginning Balance | 323,362 |
Number of other equity instruments granted in share-based payment arrangement | 0 |
Number of other equity instruments exercised or vested in share-based payment arrangement | (323,362) |
Number of shares issued or issuable on vesting - Ending Balance | 0 |
Expiry Date, May 17, 2018 [Member] | |
Capital and reserves [Line Items] | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 1.75 |
Number of shares issued or issuable on vesting - Beginning Balance | 5,008,336 |
Number of other equity instruments granted in share-based payment arrangement | 0 |
Number of other equity instruments exercised or vested in share-based payment arrangement | (139,716) |
Number of shares issued or issuable on vesting - Ending Balance | 4,868,620 |
Expiry Date, May 17, 2018 [Member] | |
Capital and reserves [Line Items] | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 1.49 |
Number of shares issued or issuable on vesting - Beginning Balance | 60,900 |
Number of other equity instruments granted in share-based payment arrangement | 0 |
Number of other equity instruments exercised or vested in share-based payment arrangement | 0 |
Number of shares issued or issuable on vesting - Ending Balance | 60,900 |
Expiry Date, May 30, 2019 [Member] | |
Capital and reserves [Line Items] | |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ 2.15 |
Number of shares issued or issuable on vesting - Beginning Balance | 0 |
Number of other equity instruments granted in share-based payment arrangement | 126,174 |
Number of other equity instruments exercised or vested in share-based payment arrangement | 0 |
Number of shares issued or issuable on vesting - Ending Balance | 126,174 |
Capital and Reserves (Details 1
Capital and Reserves (Details 1) | 12 Months Ended | |
Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | |
Capital and reserves [Line Items] | ||
Weighted average exercise price - options forfeited or expired | $ 0 | $ 0 |
Weighted average exercise price - Balance Ending | $ 2.06 | |
Number of shares issued or issuable on exercise - Options exercised (in shares) | 126,339 | 316,669 |
Number of shares issued or issuable on exercise - Balance End (in shares) | 6,546,666 | |
Incentive Stock Options [Member] | ||
Capital and reserves [Line Items] | ||
Weighted average exercise price - Balance Opening | $ 2.48 | $ 3.2 |
Weighted average exercise price - stock options granted | 2.31 | 1.11 |
Weighted average exercise price - options exercised | 1.28 | 0.72 |
Weighted average exercise price - options forfeited or expired | 4.78 | 3.01 |
Weighted average exercise price - Balance Ending | $ 2.06 | $ 2.48 |
Number of shares issued or issuable on exercise - Balance Opening (in shares) | 6,175,995 | 4,444,497 |
Number of shares issued or issuable on exercise - Stock options granted (in shares) | 1,645,500 | 2,537,500 |
Number of shares issued or issuable on exercise - Options exercised (in shares) | (126,332) | (316,669) |
Number of shares issued or issuable on exercise - Options forfeited or expired (in shares) | (1,148,497) | (489,333) |
Number of shares issued or issuable on exercise - Balance End (in shares) | 6,546,666 | 6,175,995 |
Opening Balance | $ 6,996,000 | $ 6,906,000 |
Balance - Stock options granted | 0 | 0 |
Balance - Share based compensation expense | 2,204,000 | 1,018,000 |
Balance - Options exercised | (78,000) | (111,000) |
Balance - Options forfeited or expired | (2,864,000) | (817,000) |
Ending Balance | $ 6,258,000 | $ 6,996,000 |
Capital and Reserves (Details 2
Capital and Reserves (Details 2) | Dec. 31, 2017CAD ($) |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 6,546,666 |
Options Outstanding, Average Remaining Life (Years) | 2.66 |
Options Outstanding, Average Exercise Price | $ 2.06 |
Options Exercisable, Number of Shares Issuable on Exercise | 5,167,472 |
Options Exercisable, Average Exercise Price | $ 2.15 |
Exercise Price - 0.60 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 35,000 |
Options Outstanding, Average Remaining Life (Years) | 1.96 |
Options Outstanding, Average Exercise Price | $ 0.60 |
Options Exercisable, Number of Shares Issuable on Exercise | 35,000 |
Options Exercisable, Average Exercise Price | $ 0.60 |
Exercise Price - 0.60 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 1,085,333 |
Options Outstanding, Average Remaining Life (Years) | 2.12 |
Options Outstanding, Average Exercise Price | $ 0.60 |
Options Exercisable, Number of Shares Issuable on Exercise | 1,085,333 |
Options Exercisable, Average Exercise Price | $ 0.60 |
Exercise Price - 0.84 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 1,640,833 |
Options Outstanding, Average Remaining Life (Years) | 3.12 |
Options Outstanding, Average Exercise Price | $ 0.84 |
Options Exercisable, Number of Shares Issuable on Exercise | 1,093,889 |
Options Exercisable, Average Exercise Price | $ 0.84 |
Exercise Price - 1.73 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 600,000 |
Options Outstanding, Average Remaining Life (Years) | 3.44 |
Options Outstanding, Average Exercise Price | $ 1.73 |
Options Exercisable, Number of Shares Issuable on Exercise | 600,000 |
Options Exercisable, Average Exercise Price | $ 1.73 |
Exercise Price - 1.75 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 42,000 |
Options Outstanding, Average Remaining Life (Years) | 4.63 |
Options Outstanding, Average Exercise Price | $ 1.75 |
Options Exercisable, Number of Shares Issuable on Exercise | 10,500 |
Options Exercisable, Average Exercise Price | $ 1.75 |
Exercise Price - 1.78 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 150,000 |
Options Outstanding, Average Remaining Life (Years) | 3.49 |
Options Outstanding, Average Exercise Price | $ 1.78 |
Options Exercisable, Number of Shares Issuable on Exercise | 150,000 |
Options Exercisable, Average Exercise Price | $ 1.78 |
Exercise Price - 1.94 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 496,500 |
Options Outstanding, Average Remaining Life (Years) | 1.12 |
Options Outstanding, Average Exercise Price | $ 1.94 |
Options Exercisable, Number of Shares Issuable on Exercise | 496,500 |
Options Exercisable, Average Exercise Price | $ 1.94 |
Exercise Price - 2.32 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 1,601,500 |
Options Outstanding, Average Remaining Life (Years) | 4.09 |
Options Outstanding, Average Exercise Price | $ 2.32 |
Options Exercisable, Number of Shares Issuable on Exercise | 800,750 |
Options Exercisable, Average Exercise Price | $ 2.32 |
Exercise Price - 4.16 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 336,000 |
Options Outstanding, Average Remaining Life (Years) | 0.06 |
Options Outstanding, Average Exercise Price | $ 4.16 |
Options Exercisable, Number of Shares Issuable on Exercise | 336,000 |
Options Exercisable, Average Exercise Price | $ 4.16 |
Exercise Price - 7.10 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 556,000 |
Options Outstanding, Average Remaining Life (Years) | 0.03 |
Options Outstanding, Average Exercise Price | $ 7.10 |
Options Exercisable, Number of Shares Issuable on Exercise | 556,000 |
Options Exercisable, Average Exercise Price | $ 7.10 |
Exercise Price - 8.13 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 3,500 |
Options Outstanding, Average Remaining Life (Years) | 0.35 |
Options Outstanding, Average Exercise Price | $ 8.13 |
Options Exercisable, Number of Shares Issuable on Exercise | 3,500 |
Options Exercisable, Average Exercise Price | $ 8.13 |
Capital and Reserves (Details 3
Capital and Reserves (Details 3) - Restricted Share Units [Member] $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017CAD ($) | Dec. 31, 2017Number | Dec. 31, 2017 | Dec. 31, 2016CAD ($) | Dec. 31, 2016Number | Dec. 31, 2016 | |
Capital and reserves [Line Items] | ||||||
Number of shares issued or issuable on vesting - Beginning Balance | Number | 452,951 | 360,903 | ||||
RSUs granted | 235,000 | 398,326 | 295,000 | 295,000 | ||
RSUs vested | (289,625) | 177,700 | (202,952) | |||
Number of shares issued or issuable on vesting - Ending Balance | 398,326 | 398,326 | 452,951 | |||
Opening Balance | $ 220 | $ 471 | ||||
RSUs granted | 0 | 0 | ||||
Share-based compensation expense recognized | 524 | 213 | ||||
RSUs vested | (343) | (464) | ||||
Ending Balance | $ 401 | $ 220 |
Capital and Reserves (Details T
Capital and Reserves (Details Textual) | 1 Months Ended | 12 Months Ended | |||||||||||||||||
May 30, 2017CAD ($) | Mar. 29, 2017shares | May 17, 2016CAD ($)$ / sharesshares | Dec. 31, 2017shares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2017Numbershares | Dec. 31, 2017shares | Dec. 31, 2016CAD ($)Number | Dec. 31, 2016CAD ($)Numbershares | Dec. 31, 2016CAD ($)Number | Dec. 31, 2016CAD ($)Number | Dec. 31, 2016CAD ($)Number | Dec. 31, 2017CAD ($) | Dec. 31, 2017$ / shares | Dec. 31, 2017Number | Dec. 31, 2017 | May 30, 2017$ / sharesshares | Jul. 29, 2016CAD ($) | Dec. 31, 2015Number | |
Capital and reserves [Line Items] | |||||||||||||||||||
Number of shares issued | shares | 10,839,972 | 4,205,820 | |||||||||||||||||
Proceeds from issuing shares | $ 9,043,000 | $ 13,008,000 | |||||||||||||||||
Par value per share | (per share) | $ 1.20 | $ 2.15 | |||||||||||||||||
Warrants exercise price per share | $ / shares | $ 1.75 | ||||||||||||||||||
Warrants exercisable term | 24 months | ||||||||||||||||||
Share issue related cost | $ 788,000 | $ 1,132,000 | |||||||||||||||||
Non cash items related to valuation of broker warrants | 72,000 | 196,000 | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 126,339 | 316,669 | |||||||||||||||||
Proceeds from exercise of options | 162,000 | 231,000 | |||||||||||||||||
Proceeds from exercise of warrants | $ 418,000 | 6,208,000 | |||||||||||||||||
Value of shares and warrants authorised | $ 50,000,000 | ||||||||||||||||||
Risk free interest rate, share options granted | 1.02% | 0.53% | |||||||||||||||||
Expected volatility, share options granted | 73.00% | 70.00% | |||||||||||||||||
Number of share options outstanding in share-based payment arrangement | 6,546,666 | ||||||||||||||||||
Number of options available for future grants | shares | 3,183,093 | 3,183,093 | 3,183,093 | 3,183,093 | |||||||||||||||
Description of vesting requirements for share-based payment arrangement | vesting 25% upon granting and 25% each six months thereafter | ||||||||||||||||||
Option life, share options granted | 4 | 4 | |||||||||||||||||
Expected forfeiture rate, share options forfeited | 2.00% | 4.00% | |||||||||||||||||
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $ 2.26 | $ 1.59 | |||||||||||||||||
Number Of Shares Issued as a consideration to wheaton | shares | 3,000,000 | ||||||||||||||||||
Ordinary shares [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of shares issued for exercise of warrants | shares | 463,078 | 4,364,575 | |||||||||||||||||
Number Of Shares Issued as a consideration to wheaton | shares | 3,000,000 | ||||||||||||||||||
Number of shares issued for advisory fees | shares | 250,000 | ||||||||||||||||||
Incentive Stock Options [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of share options exercised in share-based payment arrangement | (126,332) | (316,669) | |||||||||||||||||
Number of share options outstanding in share-based payment arrangement | 6,175,995 | 6,175,995 | 6,175,995 | 6,175,995 | 6,175,995 | 6,546,666 | 4,444,497 | ||||||||||||
Expense from share-based payment transactions with employees | 2,204,000 | $ 1,018,000 | |||||||||||||||||
Number of share options granted in share-based payment arrangement | 1,645,500 | 2,537,500 | |||||||||||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | 2.31 | 1.11 | |||||||||||||||||
Incentive Stock Options [Member] | Mining property [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | 369,000 | $ 136,000 | |||||||||||||||||
Incentive Stock Options [Member] | Charged to Income [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | $ 1,835,000 | $ 882,000 | |||||||||||||||||
Incentive Stock Options [Member] | Events Occurred After Reporting Period [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 2.07 | ||||||||||||||||||
Number of share options exercised in share-based payment arrangement | 451,000 | ||||||||||||||||||
Number of share options granted in share-based payment arrangement | 2,464,000 | ||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement | 8,000 | ||||||||||||||||||
Restricted Share Units [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | (289,625) | 177,700 | (202,952) | ||||||||||||||||
Number of shares issued for release of RSU settlement shares | shares | 289,626 | 202,952 | |||||||||||||||||
Number of other equity instruments outstanding in share-based payment arrangement | 452,951 | 452,951 | 452,951 | 452,951 | 452,951 | 398,326 | 398,326 | 360,903 | |||||||||||
Expense from share-based payment transactions with employees | 524,000 | $ 213,000 | |||||||||||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | 2.31 | 1.04 | |||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement | 235,000 | 398,326 | 295,000 | 295,000 | |||||||||||||||
Weighted average fair value at measurement date, other equity instruments granted | $ 268,000 | $ 268,000 | 268,000 | $ 268,000 | $ 268,000 | $ 545,000 | |||||||||||||
Restricted Share Units [Member] | General and administrative expenses [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | $ 524,000 | $ 213,000 |
General and Administrative Ex77
General and Administrative Expenses by Nature of Expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Genral And Administrative Expenses [Line Items] | ||
Depreciation | $ 1,563 | $ 1,964 |
Office, operating and non-operating overheads | 12,448 | 9,468 |
Restructuring costs | 1,353 | |
Total General and Administrative Expenses | 10,942 | 7,514 |
Corporate Level [Member] | ||
Genral And Administrative Expenses [Line Items] | ||
Depreciation | 89 | 84 |
Amortization of intangible assets | 13 | 13 |
Business development and investor relations | 567 | 419 |
Office, operating and non-operating overheads | 682 | 603 |
Professional | 433 | 647 |
Regulatory | 309 | 159 |
Restructuring costs | 1,353 | 0 |
Salaries and contractors | 2,112 | 1,416 |
Share-based compensation | 2,305 | 914 |
Travel | 301 | 220 |
Expenses, by nature | 8,164 | 4,475 |
Environmental Services [Member] | ||
Genral And Administrative Expenses [Line Items] | ||
Depreciation | 19 | 32 |
Amortization of intangible assets | 59 | 98 |
Business development and investor relations | 164 | 75 |
Office, operating and non-operating overheads | 756 | 748 |
Professional | 29 | 39 |
Salaries and contractors | 1,657 | 1,837 |
Share-based compensation | 0 | 161 |
Travel | 94 | 49 |
Expenses, by nature | 2,778 | 3,039 |
Total General and Administrative Expenses | $ 10,942 | $ 7,514 |
Mine Site Care and Maintenanc78
Mine Site Care and Maintenance (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of mine site care and maintenance expenses [Line Items] | ||
Repairs and maintenance expense | $ 1,723 | $ 1,954 |
Depreciation [Member] | ||
Schedule of mine site care and maintenance expenses [Line Items] | ||
Repairs and maintenance expense | 1,366 | 1,602 |
Office, operating and non-operating overheads [Member] | ||
Schedule of mine site care and maintenance expenses [Line Items] | ||
Repairs and maintenance expense | 357 | 274 |
Other expenses [Member] | ||
Schedule of mine site care and maintenance expenses [Line Items] | ||
Repairs and maintenance expense | $ 0 | $ 78 |
Income Tax Expense (Details)
Income Tax Expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of income tax [Abstract] | |||
Accounting loss before taxes | [1] | $ (6,176) | $ (3,967) |
Federal and provincial income tax rate of 26% (2015 - 26%) | (1,605) | (1,031) | |
Non-deductible permanent differences | 495 | (53) | |
Differences in foreign exchange rates | 0 | (95) | |
Effect of difference in tax rates | 2,488 | (131) | |
Change in deferred tax asset not recognized | (1,075) | 1,424 | |
Flow-through share renunciation | 1,040 | 594 | |
Change in estimate | (72) | (396) | |
Other | 201 | 80 | |
Income Tax Provision Recovery Adjustments | 1,472 | 1,423 | |
Income tax provision | $ 1,472 | $ 392 | |
[1] | Represents consolidated loss before taxes. |
Income Tax Expense (Details) _P
Income Tax Expense (Details) [Parenthetical] | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of income tax [Abstract] | ||
Applicable tax rate | 26.00% | 26.00% |
Income Tax Expense (Details 1)
Income Tax Expense (Details 1) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | $ (1,440) | |
Credited (charged) to the income statement | (2,201) | |
(Credited) Charged to OCI | 637 | |
Deferred tax liabilities | (3,004) | $ (1,440) |
Net deferred tax liabilities | ||
Net deferred tax liabilities | (1,440) | |
Charged to the income statement | (2,201) | |
Charged to OCI | 637 | |
Net deferred tax liabilities | (3,004) | (1,440) |
Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (8,918) | (7,422) |
Credited (charged) to the income statement | (1,295) | (1,615) |
(Credited) Charged to OCI | 119 | |
Deferred tax liabilities | (10,213) | (8,918) |
Net deferred tax liabilities | ||
Charged to the income statement | (1,295) | (1,615) |
Charged to OCI | 119 | |
Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 7,478 | 6,638 |
Credited (charged) to the income statement | (906) | 920 |
(Credited) Charged to OCI | 637 | (80) |
Deferred tax assets | 7,209 | 7,478 |
Net deferred tax liabilities | ||
Charged to the income statement | (906) | 920 |
Charged to OCI | 637 | (80) |
Mineral Property Interest [Member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (6,137) | (4,712) |
Credited (charged) to the income statement | (1,390) | (1,425) |
(Credited) Charged to OCI | 0 | |
Deferred tax liabilities | (7,527) | (6,137) |
Net deferred tax liabilities | ||
Charged to the income statement | (1,390) | (1,425) |
Charged to OCI | 0 | |
Mineral Property Interest [Member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 770 | 592 |
Credited (charged) to the income statement | 69 | 178 |
(Credited) Charged to OCI | 0 | 0 |
Deferred tax assets | 839 | 770 |
Net deferred tax liabilities | ||
Charged to the income statement | 69 | 178 |
Charged to OCI | 0 | 0 |
Inventory [Member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (126) | (126) |
Credited (charged) to the income statement | 13 | 0 |
(Credited) Charged to OCI | 0 | |
Deferred tax liabilities | (113) | (126) |
Net deferred tax liabilities | ||
Charged to the income statement | 13 | 0 |
Charged to OCI | 0 | |
Property, Plant And Equipments [Member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (1,505) | (1,365) |
Credited (charged) to the income statement | 41 | (140) |
(Credited) Charged to OCI | 0 | |
Deferred tax liabilities | (1,464) | (1,505) |
Net deferred tax liabilities | ||
Charged to the income statement | 41 | (140) |
Charged to OCI | 0 | |
Property, Plant And Equipments [Member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 143 | 316 |
Credited (charged) to the income statement | (66) | (173) |
(Credited) Charged to OCI | 0 | 0 |
Deferred tax assets | 77 | 143 |
Net deferred tax liabilities | ||
Charged to the income statement | (66) | (173) |
Charged to OCI | 0 | 0 |
Other temporary differences [member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (1,150) | (1,219) |
Credited (charged) to the income statement | 41 | (50) |
(Credited) Charged to OCI | 119 | |
Deferred tax liabilities | (1,109) | (1,150) |
Net deferred tax liabilities | ||
Charged to the income statement | 41 | (50) |
Charged to OCI | 119 | |
Other temporary differences [member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 799 | 1,440 |
Credited (charged) to the income statement | (775) | (561) |
(Credited) Charged to OCI | 637 | (80) |
Deferred tax assets | 661 | 799 |
Net deferred tax liabilities | ||
Charged to the income statement | (775) | (561) |
Charged to OCI | 637 | (80) |
Loss Carryforward [Member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 4,281 | 2,757 |
Credited (charged) to the income statement | (13) | 1,524 |
(Credited) Charged to OCI | 0 | 0 |
Deferred tax assets | 4,268 | 4,281 |
Net deferred tax liabilities | ||
Charged to the income statement | (13) | 1,524 |
Charged to OCI | 0 | 0 |
Provision for decommissioning, restoration and rehabilitation costs [member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 1,485 | 1,533 |
Credited (charged) to the income statement | (121) | (48) |
(Credited) Charged to OCI | 0 | 0 |
Deferred tax assets | 1,364 | 1,485 |
Net deferred tax liabilities | ||
Charged to the income statement | (121) | (48) |
Charged to OCI | $ 0 | $ 0 |
Income Tax Expense (Details 2)
Income Tax Expense (Details 2) $ in Thousands | Dec. 31, 2017CAD ($) |
Disclosure of income tax [Abstract] | |
Tax loss carry forwards | $ 40,604 |
Mineral property interest | 24,518 |
Other | 8,431 |
Unrecognised Tax Benefit | $ 73,553 |
Income Tax Expense (Details 3)
Income Tax Expense (Details 3) $ in Thousands | Dec. 31, 2017CAD ($) |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | $ 40,604 |
2,029 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 3,195 |
2,030 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 3,397 |
2,031 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 421 |
2,032 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 88 |
2,033 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 2,222 |
2,034 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 9,520 |
2,035 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,751 |
2,036 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,687 |
2,037 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 8,323 |
Canada [Member] | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 40,604 |
Canada [Member] | 2029 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 3,195 |
Canada [Member] | 2030 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 3,397 |
Canada [Member] | 2031 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 421 |
Canada [Member] | 2032 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 88 |
Canada [Member] | 2033 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 2,222 |
Canada [Member] | 2034 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 9,520 |
Canada [Member] | 2035 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,751 |
Canada [Member] | 2036 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,687 |
Canada [Member] | 2037 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | $ 8,323 |
Financial Instruments (Details)
Financial Instruments (Details) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Financial Instrument [Abstract] | ||
Fair value through profit or loss Warrants held-for-trading | $ 1,082 | $ 1,326 |
Embedded derivative asset | 6,600 | 0 |
Available-for-sale Investment in marketable securities | 673 | 365 |
Financial assets | $ 8,355 | $ 1,691 |
Financial Instruments (Details
Financial Instruments (Details 1) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | $ 1,548 | $ 3,604 |
Accounts Payable and Accrued Liabilities [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | (298) | (391) |
Accounts and other receivable [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | 510 | 972 |
Cash and Cash Equivalents [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | $ 1,336 | $ 3,023 |
Financial Instruments (Detail86
Financial Instruments (Details 2) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | $ 26,986 | $ 29,534 |
Cash [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 6,019 | 6,484 |
Demand Deposits [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 11,887 | 13,898 |
Term Deposits [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 7,092 | 6,948 |
Trade receivables, net of provision [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 1,988 | 2,204 |
Trade receivables, net of provision [Member] | Currently due [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 1,035 | 857 |
Trade receivables, net of provision [Member] | Past due by 90 days or less, not impaired [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 940 | 1,315 |
Trade receivables, net of provision [Member] | Past due by greater than 90 days, not impaired [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | $ 13 | $ 32 |
Financial Instruments (Detail87
Financial Instruments (Details 3) - CAD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | $ 3,601 | $ 1,830 |
Within 90 days or less [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | 3,601 | 1,830 |
In later than 90 days, not later than one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | $ 0 | $ 0 |
Financial Instruments (Detail88
Financial Instruments (Details Textual) - CAD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Financial Instruments [Line Items] | ||
Increase in fair value measurement due to change in one or more unobservable inputs to reflect reasonably possible alternative assumptions, assets | $ 158,000 | $ 360,000 |
Allowance account for credit losses of financial assets | $ 1,000 | $ 1,000 |
Percentage of depreciation or appreciation of foreign exchange | 10.00% | |
Option pricing model [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Expected Life, Significant Unabservable Input Assets | 1 year 2 months 8 days | |
Interest rate, significant unobservable inputs, assets | 1.66% | 0.73% |
Historical volatility for shares, significant unobservable inputs, assets | 84.18% | 87.00% |
Option pricing model [member] | Top of range [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Expected Life, Significant Unabservable Input Assets | 2 years 11 months 23 days | |
Option pricing model [member] | Bottom of range [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Expected Life, Significant Unabservable Input Assets | 2 months 1 day |
Supplemental Cash Flow Inform89
Supplemental Cash Flow Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from (used in) operating activities [abstract] | ||
Interest received | $ 221 | $ 63 |
Non-Cash Investing and Financing Transactions | ||
Capitalization of share-based compensation to mineral properties | 369 | 136 |
Capitalization of depreciation to mineral properties | 265 | 119 |
Capitalization of re-estimation of decommissioning and rehabilitation provision | 37 | (220) |
Increase (decrease) in non-cash working capital related to: | ||
Mining operations properties | (1,130) | 54 |
Exploration and evaluation properties | $ (23) | $ 0 |
Segmented Information (Details)
Segmented Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of operating segments [line items] | |||
Total revenues as reported | $ 10,732 | $ 11,361 | |
Cost of sales | 6,732 | 8,495 | |
Gross profit as reported | 4,000 | 2,866 | |
Depreciation and amortization | 180 | 227 | |
Share-based compensation | 2,359 | 1,095 | |
Other G&A expenses | 7,104 | 6,212 | |
Mine site care and maintenance | 1,723 | 1,954 | |
Restructuring Costs | 1,353 | ||
Foreign exchange loss (gain) | (964) | 137 | |
Gain on investments | (1,341) | (2,742) | |
Other (income) loss | (184) | (30) | |
Segment income (loss) before taxes | [1] | (6,176) | (3,967) |
Total assets | 123,836 | 117,632 | |
Total liabilities | 23,776 | 26,959 | |
Environmental Services [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 10,732 | 11,361 | |
Cost of sales | 6,732 | 8,495 | |
Gross profit as reported | 4,000 | 2,866 | |
Depreciation and amortization | 79 | 130 | |
Share-based compensation | 0 | 161 | |
Other G&A expenses | 2,700 | 2,748 | |
Mine site care and maintenance | 0 | 0 | |
Foreign exchange loss (gain) | (1,080) | (2) | |
Gain on investments | 0 | 0 | |
Other (income) loss | 250 | (1) | |
Segment income (loss) before taxes | 2,051 | (170) | |
Total assets | 6,198 | 5,413 | |
Total liabilities | 1,642 | 1,455 | |
Mining [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 0 | 0 | |
Cost of sales | 0 | 0 | |
Gross profit as reported | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Share-based compensation | 0 | 0 | |
Other G&A expenses | 0 | 0 | |
Mine site care and maintenance | 1,723 | 1,954 | |
Foreign exchange loss (gain) | (4) | 0 | |
Gain on investments | 0 | 0 | |
Other (income) loss | (247) | 46 | |
Segment income (loss) before taxes | (1,472) | (2,000) | |
Total assets | 99,815 | 91,738 | |
Total liabilities | 20,670 | 24,735 | |
Corporate And Other [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 0 | 0 | |
Cost of sales | 0 | 0 | |
Gross profit as reported | 0 | 0 | |
Depreciation and amortization | 101 | 97 | |
Share-based compensation | 2,305 | 914 | |
Other G&A expenses | 4,404 | 3,464 | |
Mine site care and maintenance | 0 | 0 | |
Restructuring Costs | 1,353 | ||
Foreign exchange loss (gain) | 120 | 139 | |
Gain on investments | (1,341) | (2,742) | |
Other (income) loss | (187) | (75) | |
Segment income (loss) before taxes | (6,755) | (1,797) | |
Total assets | 17,823 | 20,481 | |
Total liabilities | 1,464 | 769 | |
Canadian [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 5,881 | 6,754 | |
Canadian [Member] | Environmental Services [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 5,881 | 6,754 | |
Canadian [Member] | Mining [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 0 | 0 | |
Canadian [Member] | Corporate And Other [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 0 | 0 | |
Non-Canadian [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 4,851 | 4,607 | |
Non-Canadian [Member] | Environmental Services [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 4,851 | 4,607 | |
Non-Canadian [Member] | Mining [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | 0 | 0 | |
Non-Canadian [Member] | Corporate And Other [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenues as reported | $ 0 | $ 0 | |
[1] | Represents consolidated loss before taxes. |
Segmented Information (Details
Segmented Information (Details Textual) | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Three Customers [Member] | |
Disclosure of operating segments [line items] | |
Revenue | $ 6,594,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions between related parties [line items] | ||
Key management personnel compensation | $ 4,318 | $ 2,844 |
Related parties [member] | ||
Disclosure of transactions between related parties [line items] | ||
Salaries and other short-term benefits | 2,246 | 1,765 |
Share-based compensation | $ 2,072 | $ 1,079 |
Related Party Transactions (D93
Related Party Transactions (Details Textual) - CAD ($) | 1 Months Ended | 12 Months Ended | |
Dec. 28, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions related parties [Line Items] | |||
Payment Of Consulting Fees To Related Party | $ 0 | ||
Adjustments for gain (loss) on disposal of investments in subsidiaries, joint ventures and associates | $ 1,204,000 | $ 1,530,000 | |
Other related parties [member] | |||
Disclosure of transactions related parties [Line Items] | |||
Payment Of Consulting Fees To Related Party | $ 125,000 | ||
Adjustments for gain (loss) on disposal of investments in subsidiaries, joint ventures and associates | $ 250,000 | ||
Crystalized foreign exchange gain | $ 1,000,000 |
Commitments (Details)
Commitments (Details) $ in Thousands | Dec. 31, 2017CAD ($) |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | $ 732 |
2,018 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 341 |
2,019 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 296 |
Thereafter | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | $ 95 |
Commitments (Details Textual)
Commitments (Details Textual) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Commitments And Contingencies [Line Items] | ||
Contractual capital commitments | $ 240,000 | |
Subsequent Events [Member] | Flow-through common stock[] [Member] | ||
Disclosure Of Commitments And Contingencies [Line Items] | ||
Payments for exploration and evaluation expenses | $ 5,192,000 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) | 1 Months Ended | |||
Feb. 23, 2018USD ($)shares | Feb. 23, 2018$ / shares | May 30, 2017shares | May 17, 2016shares | |
Disclosure of non-adjusting events after reporting period [line items] | ||||
Number of shares issued | 4,205,820 | 10,839,972 | ||
Warrants issued | 1,000,000 | |||
Warrants exercise term | 2.25 | |||
Warrants exercise price | $ / shares | $ 5.63 | |||
Subsequent Events [Member] | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Number of shares issued | 171,480 | |||
Notional amount | $ | $ 15,000,000 | |||
Borrowings maturity term | 3 | |||
Borrowings, maturity | February 23, 2021 | |||
Borrowings, interest rate | 8.00% | |||
Rate of charge on funds drawn | 3.00% | |||
Warrants issued | 1,000,000 | |||
Warrants exercise term | 2.25 | |||
Warrants exercise price | $ / shares | $ 5.63 | |||
Subsequent Events [Member] | Floating interest rate [member] | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Libor rate | 7.00% |