Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document and Entity Information [Abstract] | |
Document Type | 40-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | ALEXCO RESOURCE CORP |
Entity Central Index Key | 0001364128 |
Current Fiscal Year End Date | --12-31 |
Entity Current Reporting Status | Yes |
Entity Common Stock, Shares Outstanding | 107,998,902 |
Entity Emerging Growth Company | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | |||
Cash and cash equivalents | $ 8,576 | $ 17,906 | $ 20,382 |
Accounts and other receivables | 6,811 | 2,086 | 2,938 |
Restricted cash and deposits | 0 | 499 | 0 |
Investments | 351 | 728 | 1,691 |
Inventories | 818 | 646 | 151 |
Prepaid expenses and other | 878 | 538 | 401 |
Current assets | 17,434 | 22,403 | 25,563 |
Non-Current Assets | |||
Restricted cash and deposits | 2,725 | 6,593 | 6,948 |
Investments | 409 | 1,027 | 0 |
Inventories | 4,699 | 4,743 | 5,110 |
Property, plant and equipment | 15,233 | 16,256 | 16,250 |
Mineral properties | 82,226 | 64,587 | 55,620 |
Embedded derivative asset | 9,671 | 6,600 | 0 |
Intangible assets and other | 621 | 115 | 195 |
Total Assets | 133,018 | 122,324 | 109,686 |
Current Liabilities | |||
Accounts payable and accrued liabilities | 7,210 | 3,601 | 1,832 |
Environmental services contract loss provision | 36 | 126 | 277 |
Deferred revenue | 109 | 196 | 337 |
Flow-through share premium pending renunciation | 649 | 276 | 0 |
Current Liabilities | 8,004 | 4,199 | 2,446 |
Non-Current Liabilities | |||
Decommissioning and rehabilitation provision | 5,286 | 5,055 | 4,955 |
Deferred income tax liabilities | 3,098 | 614 | 0 |
Total Liabilities | 16,388 | 9,868 | 7,401 |
Shareholders' Equity | 116,630 | 112,456 | 102,285 |
Total Liabilities and Shareholders' Equity | $ 133,018 | $ 122,324 | $ 109,686 |
CONSOLIDATED STATEMENTS OF LOSS
CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Revenues | |||
Environmental Services Revenue | $ 19,880 | $ 10,732 | |
Cost of Sales | |||
Environmental Services Costs | 13,828 | 6,732 | |
Total Gross Profit | 6,052 | 4,000 | |
General and administrative expenses | 12,170 | 10,942 | |
Mine site care and maintenance | 2,603 | 1,888 | |
Operating expense | 14,773 | 12,830 | |
Operating Loss | (8,721) | (8,830) | |
Other Income (Expenses) | |||
Other income and expenses | (772) | 1,148 | |
Gain (loss) on investments | (572) | 1,341 | |
Gain on embedded derivative | 3,071 | 0 | |
Loss Before Taxes | [1] | (6,994) | (6,341) |
Income Tax Provision | |||
Current | 3 | 0 | |
Deferred | 1,504 | 1,472 | |
Net Loss | (8,501) | (7,813) | |
Other Comprehensive Income (Loss) | |||
Gain (loss) on FVTOCI investments, net of tax | (798) | 253 | |
Items that may be reclassified subsequently to net loss | |||
Cumulative translation adjustments, net of tax | 213 | (564) | |
Recycle of loss on previously recorded available-for-sale to income, net of tax | 0 | (356) | |
Other Comprehensive Loss | (585) | (667) | |
Total Comprehensive Loss | $ (9,086) | $ (8,480) | |
Basic and diluted loss per common share | $ (0.08) | $ (0.09) | |
Weighted average number of common shares outstanding | 105,034,345 | 98,486,437 | |
[1] | Represents consolidated loss before taxes. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows used in Operating Activities | ||
Net loss | $ (8,501) | $ (7,813) |
Items not affecting cash from operations: | ||
Environmental services contract loss provision | (90) | (152) |
Depreciation of property, plant and equipment | 1,601 | 1,723 |
Amortization of intangible assets | 51 | 76 |
Share-based compensation expense | 2,580 | 2,359 |
Finance costs, foreign exchange and other | (2,799) | (1,418) |
Realized gain on disposition of investments | 0 | (1,204) |
Unrealized loss (gain) on investments | 573 | (632) |
Advisory fees paid in shares | 0 | 500 |
Deferred income tax provision | 1,504 | 1,472 |
Changes in non-cash working capital balances related to operations | ||
(Increase) decrease in accounts and other receivables | (4,107) | 849 |
Increase in inventories | (26) | (129) |
(Increase) decrease in prepaid expenses and other current assets | 650 | (140) |
Decrease in deferred revenue | (88) | (142) |
Increase in accounts payable and accrued liabilities | 3,162 | 597 |
Cash flows used in operating activities | (5,490) | (4,054) |
Cash Flows (used in) from Investing Activities | ||
Expenditures on mineral properties | (17,115) | (7,155) |
Purchase or disposal of property, plant and equipment | (486) | (1,982) |
Decrease (Increase) in restricted cash | 4,383 | (195) |
Acquisition of subsidiary | (536) | 0 |
Purchase (disposal) of investments | (407) | 2,003 |
Cash flows from (used in) investing activities | (14,161) | (7,329) |
Cash Flows from (used in) Financing Activities | ||
Proceeds from issuance of shares | 9,042 | 9,043 |
Issuance costs | (966) | (716) |
Proceeds from exercise of warrants | 2,027 | 418 |
Proceeds from exercise of stock options | 218 | 162 |
Cash flows from (used in) financing activities | 10,321 | 8,907 |
Decrease in Cash and Cash Equivalents | (9,330) | (2,476) |
Cash and Cash Equivalents - Beginning of Year | 17,906 | 20,382 |
Cash and Cash Equivalents - End of Year | $ 8,576 | $ 17,906 |
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, 2016 | $ 102,285 | $ 186,952 | $ 2,134 | $ 7,216 | $ 12,880 | $ (105,483) | $ (464) |
Balance (in shares) at Dec. 31, 2016 | 92,950,194 | ||||||
Statement of equity [Line Items] | |||||||
Net loss | (7,813) | $ 0 | 0 | 0 | 0 | (7,813) | 0 |
Other comprehensive income (loss) | (667) | 0 | 0 | 0 | 0 | 0 | (667) |
Share-based compensation expense recognized | 2,728 | 0 | 0 | 2,728 | 0 | 0 | 0 |
Flow-through shares equity offering, net of issuance costs and tax | 7,294 | $ 7,222 | 72 | 0 | 0 | 0 | 0 |
Flow-through shares equity offering, net of issuance costs and tax (in shares) | 4,205,820 | ||||||
Shares issued - advisory fees | 500 | $ 500 | 0 | 0 | 0 | 0 | 0 |
Shares issued - advisory fees (in shares) | 250,000 | ||||||
Shares issued - consideration for Wheaton | 6,600 | $ 6,600 | 0 | 0 | 0 | 0 | 0 |
Shares issued - consideration for Wheaton (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 | 417 | $ 531 | (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 | 112,456 | $ 202,389 | 2,092 | 6,660 | 15,743 | (113,297) | (1,131) |
Balance (in shares) at Dec. 31, 2017 | 101,280,850 | ||||||
Statement of equity [Line Items] | |||||||
Net loss | (8,501) | $ 0 | 0 | 0 | 0 | (8,501) | 0 |
Other comprehensive income (loss) | (585) | 0 | 0 | 0 | 0 | 0 | (585) |
Share-based compensation expense recognized | 2,947 | 0 | 0 | 2,947 | 0 | 0 | 0 |
Flow-through shares equity offering, net of issuance costs and tax | 6,701 | $ 6,701 | 0 | 0 | 0 | 0 | 0 |
Flow-through shares equity offering, net of issuance costs and tax (in shares) | 4,703,000 | ||||||
Credit Facility fee - warrants | 938 | $ 0 | 938 | 0 | 0 | 0 | 0 |
Acquistion of Contango Strategies | $ 416 | $ 416 | 0 | 0 | 0 | 0 | 0 |
Acquistion of Contango Strategies (in shares) | 237,999 | ||||||
Shares issued - consideration for Wheaton (in shares) | 10,000 | ||||||
Exercise of share options | $ 217 | $ 323 | 0 | (106) | 0 | 0 | 0 |
Exercise of share options (in shares) | 281,666 | ||||||
Exercise of warrants | 2,027 | $ 2,563 | (536) | 0 | 0 | 0 | 0 |
Exercise of warrants (in shares) | 1,167,351 | ||||||
Shares issued on Option Agreement | 14 | $ 14 | |||||
Shares issued on Option Agreement (in shares) | 10,000 | ||||||
Share options forfeited or expired | 0 | $ 0 | 0 | (3,163) | 3,163 | 0 | 0 |
Release of RSU settlement shares | 0 | $ 497 | 0 | (497) | 0 | 0 | 0 |
Release of RSU settlement shares (in shares) | 318,036 | ||||||
Balance at Dec. 31, 2018 | $ 116,630 | $ 212,903 | $ 2,494 | $ 5,841 | $ 18,906 | $ (121,798) | $ (1,716) |
Balance (in shares) at Dec. 31, 2018 | 107,998,902 |
Description of Business and Nat
Description of Business and Nature of Operations | 12 Months Ended |
Dec. 31, 2018 | |
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, comprising mineral exploration and mine development in 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, primarily 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 mineral resources or 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. The carrying amounts of mineral properties are based on a disposal of part of a mineral property interest, costs incurred to date, adjusted for depletion and impairments and do not necessarily represent present or future values. 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, 2018 | |
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 13, 2019. These consolidated financial statements have been prepared under the historical cost method, except for derivative financial instruments, share-based compensation 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, 2018 | |
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., Elsa Reclamation & Development Corporation Ltd. (“ERDC”), Alexco Exploration Canada Corp., Alexco Environmental Group Inc., Alexco Environmental Group Holdings Inc., Alexco Water and Environment Inc. (“AWE”) and Contango Strategies Ltd. During the period January 1, 2017 through December 28, 2017, the date of the sale, 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. (d) 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. 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 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. The Corporation has elected to follow a policy of applying the proceeds received from the silver streaming arrangement with Wheaton Precious Metals (“Wheaton”) explained further in Note 15, as a credit to the carrying value of the Exploration and Evaluation Property. Accordingly, this has been applied retrospectively and the initial deposit has been applied as an offset against the mineral interest asset, with the cumulative catch up adjustment in the amount of $12,396,000 recognized in January 1, 2017 opening retained earnings (Note 6). At each reporting date, exploration and evaluation assets are evaluated and may be classified as mining operations assets upon achieving 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 - 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 Revenue from environmental services are recognized upon the transfer of promised services or goods based on the output appropriate to the particular service contract and when a customer has the ability to direct the use and obtain the benefits from the service or good. The Corporation provides environmental services related to permitting and remediation activities, generally in the mining industry, as well provide engineering, design, construction and operational services related to water treatment systems. The Corporation identifies the performance obligations in the contract, and the obligations are measured by reference to the transaction price. The transaction price is established in the agreement as either a fixed price or rate per hour. If the contract has multiple performance obligations, the Corporation will assign the transaction price to the various performance obligations. The stand-alone selling price for services identified within the contract are determined based on detailed billing schedules included within the underlying contract with the customer or based on comparable projects where relevant. Generally, performance obligations for environmental services are satisfied over time as the service is provided. Revenue is recognized using the input method with the inputs being costs incurred on related projects. The general payment terms are 30 to 60 days once the performance obligations have been satisfied. Typical payments are received 30 days after the invoice has been received by the client. Management will assess and use significant judgement to determine whether the Corporation has promised to provide the specified good and service itself (as a principal) or to arrange for those specified goods or services to be provided by another party (as an agent). In those arrangements where the Corporation obtains control of the specified good or service before they are transferred to the customer, they will be deemed to act as a principal. In those arrangements were the Corporation is deemed to be the principal, the Corporation will recognize as revenue the “gross” amount paid by the customer for the specified good or service. If the Corporation acts an agent, it will record revenue as the net consideration that it retains for the specified good or service that was provided to the customer. (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 - (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 the relevant contractual provisions. Measurement in subsequent periods depends on the financial instrument’s classification. The Corporation classifies the financial instruments in the following categories: at fair value through profit and loss (“FVTPL”), fair value through other comprehensive income (“FVTOCI”) or at amortized cost. (i) Classification The Corporation determines the classification of financial instruments at initial recognition. Financial assets a) Debt - The classification of debt instruments is driven by the Corporation’s business model for managing the financial assets and the relevant contractual cash flow characteristics. A debt instrument is measured at amortized cost if the objective of the business model is to hold the debt instrument for the collection of contractual cash flows, and the asset's contractual cash flows are comprised solely of payments of principal and interest. b) Equity - O n the day of acquisition the Corporation may make an irrevocable election (on an instrument-by- instrument basis) to designate them as at FVTOCI. Investments in common shares are held for longterm strategic purposes and not for trading. Upon the adoption of IFRS 9, the Company made an irrevocable election to designate these investments as FVTOCI in order to provide a more meaningful presentation based on management’s intention, rather than reflecting changes in fair value in net income. Financial liabilities Financial liabilities are measured at amortized cost; unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Corporation has opted to measure at FVTPL. (ii) Measurement Financial assets and liabilities at FVTPL Financial assets and liabilities at FVTPL are initially recognized at fair value and transaction costs are expensed in the consolidated statement of income (loss). Realized and unrealized gains and losses arising from changes in the fair value of the financial assets or liabilities held at FVTPL are included in the consolidated statement of income (loss) in the period in which they occur. Where the Corporation has opted to designate a financial liability at FVTPL, any changes associated with our own credit risk will be recognized in Other Comprehensive Income (“OCI”). Financial assets at FVTOCI Investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently, the investments are measured at fair value, with gains and losses arising from changes from initial recognition recognized in OCI. Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value net of transaction costs, and subsequently carried at amortized cost adjusted by any impairment. Derivative financial instruments When the Corporation enters into derivative contracts, these are intended to reduce the exposures related to assets and liabilities, or forecast transactions. Derivatives are classified as FVTPL. Derivatives embedded in financial liabilities are treated as separate derivatives when their risks and characteristics are not closely related to the host contracts. However, the classification approach described above is applied to all financial assets, including those that contain embedded derivatives, without the need to separate the embedded derivative from the host contract. (iii) Impairment of financial assets Impairment of financial assets at amortized cost The Corporation recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. The Corporation is applying the simplified method for trade receivables and is calculating expected credit losses at an amount equal to the lifetime expected credit loss. Impairment losses on financial assets carried at amortized cost are reversed in subsequent periods if the expected credit losses are reversed after the impairment was recognized. (iv) Derecognition Derecognition of financial assets and liabilities Financial assets are derecognized when the investments mature or are sold, and substantially all the risks and rewards of ownership have been transferred. A financial liability is derecognized when the obligation under the liability is discharged, canceled or expired. Gains and losses on derecognition are recognized within finance income and finance costs, respectively. Gains or losses on equity financial assets designated as FVTOCI remain within accumulated OCI. (v) Fair value of financial instruments The fair values of quoted investments are based on current prices. If the market for a financial asset is not active, the Corporation establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models refined to reflect the financial asset’s specific circumstances. (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 (r) Goodwill The Corporation recognizes goodwill relating to a business combination when the total purchase price exceeds the fair value of the identifiable assets and liabilities of the acquired business. Goodwill is tested annually for impairment of when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Should there be a recovery in value, there is no reversal of previous impairments of Goodwill. |
New and Revised Accounting Stan
New and Revised Accounting Standards | 12 Months Ended |
Dec. 31, 2018 | |
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 New accounting standard not yet effective A new standard has been issued and is relevant to the Corporation but is not yet effective and therefore not reflected in these consolidated financial statements: IFRS 16 relates to accounting for leases and lease obligations. It replaces the existing lease guidance in IAS 17, Leases. The purpose of the new standard is to report all leases on the statement of financial position and to define how leases and lease obligations are measured. IFRS 16 is effective from January 1, 2019 and must be applied retrospectively, subject to certain practical expedients, using either a full retrospective approach or modified retrospective approach. The Corporation is currently involved in various lease obligations as part of its normal course of business. IFRS 16 applies a control model to the identification of leases, distinguishing between a lease and a service contract on the basis of whether the customer controls the asset being leased. For those assets determined to meet the definition of a lease, IFRS 16 introduces significant changes to the accounting by lessees. All leases will be recorded on the statement of financial position, except short-term leases and low-value leases. This is expected to result in a material increase in both rights of use assets and lease liabilities upon adoption of the standard, and changes to the timing of recognition and classification of expenses associated to such lease arrangements. The Corporation anticipates an increase in cash flow from operating activities as lease payments will be recorded as financing outflows in the statement of cash flows. The Corporation also anticipates an increase in depreciation and finance expenses and a decrease in operating expenses. The Corporation plans to adopt the modified retrospective approach and not restate balances for the comparative period. On initial adoption, the Corporation has elected to use the following practical expedients permitted under the standard: ● Apply a single discount rate to a portfolio of leases with similar characteristics; ● Account for leases with a remaining term of less than twelve (12) months as at January 1, 2019 as short-term leases; and ● Account for lease payments as an expense and not recognize a right-of-use (“ROU”) asset if the underlying asset is of low dollar value. On adoption of IFRS 16, the Corporation will recognize lease liabilities in relation to leases under the principles of the new standard measured at the present value of the remaining lease payments, discounted using the interest rate implicit in the lease or the Corporation’s incremental borrowing rate as at January 1, 2019. The associated ROU assets will be measured at the amount equal to the lease liability on January 1, 2019. The Corporation has completed its review of all existing operating leases and service contracts to identify contracts in scope for IFRS 16 and assessed contracts for embedded leases. Adoption of the new standard is expected to result in the recognition of additional lease liabilities and ROU assets of approximately $1,000,000 each. 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, 2018 | |
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, 2018. · 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. · Mineral Properties - Silver Stream Arrangement Upon entering into a long-term streaming arrangement linked to production at operations, Management’s judgment was required in assessing the appropriate accounting treatment for the transaction on the closing date and in future periods. We consider the specific terms of the arrangement to determine whether we have disposed of an interest in the reserves and resources of the operation or executed some other form of arrangement. This assessment considers what the counterparty is entitled to and the associated risks and rewards attributable to them over the life of the operation. These include the contractual terms related to the total production over the life of the arrangement as compared to the expected production over the life of the mine, the percentage being sold, the percentage of payable metals produced, the commodity price referred to in the ongoing payment and any guarantee relating to the upfront payment if production ceases. 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 15 for further details on the methods and assumptions associated with the measurement of the embedded derivative within the Silver Streaming Interest. Management has applied judgement in concluding that the completion test as discussed in Note 15 will be met prior to December 31, 2020 or extended to a later date, therefore the capacity related refund is not likely to be owed to Wheaton Precious Metals Corp. |
Impacts of Change in Accounting
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of information about consolidated structured entities [abstract] | |
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements [text block] | 6. Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements The Corporation has adopted the new IFRS pronouncements listed below as at January 1, 2018, in accordance with the transitional provisions outlined in the respective standards and described below. In light of the changes to the revenue standard to IFRS 15, management has changed their treatment under IFRS 6 for the partial distribution of the mineral interest. Adjustments to Consolidated Financial Statements The table below summarizes the adjustments to previously reported figures related to the policy change pertaining to IFRS 6, which is more fully described below: Adjustments to Condensed Consolidated Balance Sheets December 31 2017 January 1 2017 Equity before accounting changes $ 100,060 $ 90,673 Adjustments to equity relating to: Property plant and equipment 2,117 2,283 Mineral properties (10,229 ) (10,229 ) Deferred income tax liabilities 2,390 1,440 Silver streaming interest 18,118 18,118 Equity after accounting changes $ 112,456 $ 102,285 Adjustments to Condensed Consolidated Statements of Loss and Comprehensive Loss Year ended December 31 2017 Year ended January 1 2017 Loss before accounting changes $ (7,648 ) $ (4,359 ) Adjustments to loss relating to: Depreciation and amortization (165 ) (165 ) Loss after accounting changes $ (7,813 ) $ (4,524 ) Loss per share before accounting changes: Basic and diluted $ (0.08 ) $ (0.04 ) Loss per share after accounting changes: Basic and diluted $ (0.09 ) $ (0.05 ) The Corporation has assessed the impact of IFRS 15 on its silver streaming arrangement with Wheaton, as described in Note 15. At the date the initial transaction was completed, the Corporation determined that the contract was a disposal of part of a mineral interest and a related contract to provide extraction services. Under its existing policy, the Corporation applies 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 recognized on a units-of-production sold basis. Upon the effective date of IFRS 15, the Corporation will continue to apply IFRS 6 guidance for the partial sale of the mineral interest, but has elected to change 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, the USD $50,000,000 initial deposit recorded as consideration was applied against the carrying value of the mineral interest, with a gain being recognized to the extent that the value of the consideration exceeds the value of the mineral interest. Overview of Changes to IFRS The Corporation adopted IFRS 15 on January 1, 2018 in accordance with the transitional provisions of the standard, applying a modified retrospective approach in restating our prior period financial information. IFRS 15, Revenue from Contracts with Customers deals with revenue recognition and establishes principles for reporting useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. Revenue is recognized when a customer obtains control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18, Revenue and IAS 11, Construction contracts and related interpretations. Management’s primary focus was evaluating contracts under our Environmental Services business, as this is currently the Corporation’s primary source of revenue. Based on this analysis, the Corporation does not have significant changes to the timing and amount of its revenue recognition related to environmental services under IFRS 15, as the majority of its contracts contain a series of same or similar performance obligations. Consequently, consistent with the Corporation’s existing policy, revenue is recognized “over time”, as the services are provided. IFRS 9, Financial Instruments, addresses the classification, measurement and recognition of financial assets and financial liabilities. It replaces the guidance in IAS 39, Financial Instruments: Recognition and Measurement that relate to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income and fair value through profit or loss. The basis of classification depends on the entity’s business model for managing its financial instruments and the contractual cash flow characteristics of the instrument. For financial liabilities, the standard retains most of the IAS 39 requirements. The main change for liabilities is that, in cases where the fair value option is taken for financial liabilities, the part of a fair value change due to an entity’s own credit risk is recorded in OCI rather than in net earnings. There was no change in the carrying amounts on the basis of their measurement categories or a measurement attribute on transition. The Corporation has made the irrevocable classification choice to record fair value changes on its equity investments in OCI (Note 24). This election resulted in a nil reclassification from the Corporation’s retained earnings to AOCI, on January 1, 2018. Credit risk arises from cash and cash equivalents and trade receivables. While the Corporation is exposed to credit losses due to the non-performance of its counterparties, there are no significant concentrations of credit risk and the Corporation does not consider this to be a material risk. The Corporations customers with whom the current business operations are with include government bodies and reputable businesses. The Corporation has implemented a process for managing expected credit loss provisions related to trade receivables going forward under IFRS 9. For its trade receivables, the Corporation applies the simplified approach for determining expected credit losses, which require the Corporation to determine the lifetime, expected losses for all its trade receivables. The expected lifetime credit loss provision for its trade receivables is based on historical counterparty default rates and adjusted for relevant forward looking information, when required. Because of factors including that the majority of its customers are considered to have low default risk and the Corporation does not extend credit to customers with a high default risk, the historical default rates are low and the lifetime expected credit loss allowance for trade receivables is nominal as at December 31, 2018. Accordingly, the Corporation did not record any adjustment relating to the implementation of the expected credit loss model for its trade receivables. The Corporation has assessed the classification and measurement of our financial assets and financial liabilities under IFRS 9 and have summarized the original measurement categories under IAS 39 and the new measurement categories under IFRS 9 in the following table: Original classification IAS 39 New classification IFRS 9 Financial Assets Cash and cash equivalents Amortized cost Amortized cost Short-term deposits Amortized cost Amortized cost Equity securities Available-for-sale FVTOCI Warrants FVTPL FVTPL Trade accounts receivable Amortized cost Amortized cost Other receivables Amortized cost Amortized cost Derivative assets FVTPL FVTPL Restricted cash Amortized cost Amortized cost Financial Liabilities Trade and other payables Amortized cost Amortized cost Derivative liabilities FVTPL FVTPL |
Acquisition of Contango Strateg
Acquisition of Contango Strategies Ltd | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about business combination [abstract] | |
Disclosure Of Acquisition Of Contango Strategies Ltd [Text Block] | 7. Acquisition of Contango Strategies Ltd. On June 15, 2018 the Corporation’s wholly owned subsidiary, AEG, completed the acquisition of Contango Strategies Ltd. (“Contango”), a private Corporation based in Saskatoon, Saskatchewan. The acquisition of Contango is considered a business combination under IFRS 3. Contango has developed technologies beneficial to the Corporation with synergies formed that will allow the Corporation to pursue new opportunities. AEG acquired 100% of the outstanding common shares of Contango in exchange for consideration of $1,388,000 comprising $971,600 in cash and 237,999 common shares of Alexco at a value of $416,400. The common shares were valued at $1.75 per share reflecting the market price on the date of issuance. Settlement of the consideration is in two tranches with $1,018,000 (comprising $601,600 in cash and $416,400 in Alexco common shares) having been paid on closing with the remaining $370,000 cash payment to be made on the first anniversary of the closing of the transaction. The acquisition includes all of Contango’s operations including $450,000 in working capital and property, plant and equipment. Acquisition related costs in the amount of $28,000 were incurred and have been recognized as an expense in the consolidated statement of loss, as part of other expenses. Goodwill of $550,000 is recognized and is primarily related to growth expectation, expected future profitability and the substantial skill and expertise of Contango’s employees. Goodwill is reflected on the Balance Sheet under intangible assets and is not expected to be deductible for tax purposes. The allocation of the purchase price is preliminary and may vary based upon the completion of additional valuation procedures and finalization of working capital adjustments pursuant to the purchase agreement. The date of the acquisition for accounting purposes is June 15, 2018 being the closing date of the share purchase agreement and the date the consideration was settled. The preliminary allocation of the purchase price of Contango based on management’s estimate of fair values is as follows: Fair value of consideration Amount settled in cash $ 602 Fair value of common shares issued 416 Fair value of cash to be settled in one year 370 Total fair value of consideration $ 1,388 Fair value of identifiable assets acquired and liabilities assumed from Contango: Cash and cash equivalents 66 Accounts and other receivables 618 Inventory 102 Prepaid expenses 54 Property, plant and equipment 333 Accounts payable and accrued liabilities (335 ) Net identifiable assets acquired and liabilities assumed $ 838 Goodwill on acquisition $ 550 Net cash outflow on acquisition $ 536 Acquisition costs charged to expenses $ 28 Below is a proforma summary of the revenues, cost of sales and net income (loss) incurred by Contango for the period January 1, 2018 to June 14, 2018 combined with the revenue, cost of sales and net loss for Alexco for the year ended December 31, 2018. Revenue since the date of acquisition was $1.4 million: Contango Strategies Ltd. Alexco Resource Corp. Proforma Combined Entities Selected Financial Information For the period January 1, 2018 to June 14, 2018 For the year ended December 31, 2018 For the year ended December 31, 2018 Environmental services revenue $ 1,162 $ 19,880 $ 21,042 Costs of sales and other expenses 1,026 28,381 29,407 Net income (loss) $ 136 $ (8,501 ) $ (8,365 ) |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Disclosure of cash and cash equivalents [text block] | 8. Cash and Cash Equivalents December 31 2018 December 31 2017 Cash at bank and on hand $ 3,629 $ 6,019 Short-term bank deposits 4,947 11,887 $ 8,576 $ 17,906 |
Accounts and Other Receivables
Accounts and Other Receivables | 12 Months Ended |
Dec. 31, 2018 | |
Accounts and Other Receivables [Abstract] | |
Disclosure of trade and other receivables [text block] | 9. Accounts and Other Receivables December 31 2018 December 31 2017 Trade receivables 1 $ 6,689 $ 1,988 Interest and other 122 98 $ 6,811 $ 2,086 1. Trade receivables are derived primarily from the environmental consulting business (AEG). |
Restricted Cash and Deposits
Restricted Cash and Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Restricted Cash and Deposits [Abstract] | |
Disclosure of restricted cash and cash equivalents [text block] | 10. Restricted Cash and Deposits December 31 2018 December 31 2017 Security for decommissioning obligations $ 2,569 $ 6,507 Security for remediation services agreement - 499 Other 156 86 Restricted cash and deposits 2,725 7,092 Less: current portion - 499 $ 2,725 $ 6,593 Security for decommissioning obligations of $2,569,000 as at December 31, 2018 (December 31, 2017 - $6,507,000) includes cash collateral and a surety bond representing security for future reclamation and closure activities for the Bellekeno, Bermingham, Flame & Moth, Lucky Queen and Onek deposits. During the second quarter of 2018, security in the amount of $6,305,000 was replaced with a surety bond collateralized with $2,364,191, with the balance of $3,940,809 being reclassified as unrestricted cash and cash equivalents. The remaining security under a remediation services agreement was released back to the Corporation in the amount of $499,000 (US$398,000) in 2018 as the Corporation had satisfied the requirements under that agreement. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Investments [Abstract] | |
Disclosure of Investments [Text Block] | 11. Investments December 31 2018 December 31 2017 Common shares held $ 736 $ 673 Warrants held 24 1,082 Investments 760 1,755 Less: current portion 351 728 $ 409 $ 1,027 As of December 31, 2018, the Corporation held 8,736,644 common shares of Banyan Gold Corp. (“Banyan”) (December 31, 2017 – 4,775,000) and 1,320,500 common shares of Golden Predator Mining Corp. (“Golden Predator”) (December 31, 2017 – 300,000). As of December 31, 2018, the Corporation also held 6,155,822 warrants of Banyan (December 31, 2017 – 4,375,000) with an exercise price ranging from $0.115 to $0.15 and 300,000 warrants of Golden Predator (December 31, 2017 – 1,425,000) with an exercise price of $1.00 per share. During the year ended December 31, 2018, the Corporation recorded a pre-tax loss on investments in the amount of the $ 572 $ 1,341 net of tax of $798,000 (2017 $253,000) on common shares held in Banyan and Golden Predator. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Classes of current inventories [abstract] | |
Disclosure of inventories [text block] | 12. Inventories December 31 2018 December 31 2017 Ore in stockpiles and mill supplies $ 4,699 $ 4,743 Materials and supplies 818 646 Inventory 5,517 5,389 Less: current portion 818 646 $ 4,699 $ 4,743 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Disclosure of property, plant and equipment [text block] | 13. Property, Plant and Equipment Cost Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 1,709 $ 5,343 $ 22,749 $ 8,475 $ 1,335 $ 39,611 Additions (includes business combinations) - 226 - 837 168 1,231 Decommission change in estimate - - 85 - - 85 December 31, 2018 $ 1,709 $ 5,569 $ 22,834 $ 9,312 $ 1,503 $ 40,927 Accumulated Depreciation Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 351 $ 4,692 $ 10,270 $ 6,767 $ 1,275 $ 23,355 Depreciation (includes business combinations) 78 177 1,178 766 140 2,339 Disposal - - - - - - December 31, 2018 $ 429 $ 4,869 $ 11,448 $ 7,533 $ 1,415 $ 25,694 Net book Value Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 1,358 $ 651 $ 12,479 $ 1,708 $ 60 $ 16,256 December 31, 2018 $ 1,280 $ 700 $ 11,386 $ 1,779 $ 88 $ 15,233 During the year ended December 31, 2018, the Corporation recorded total depreciation of property, plant and equipment of $2,339,000 (2017 – $1,993,000) of which $1,964,000 (2017 – $1,728,000) has been charged to income with $85,000 (2017 – $142,000) recorded in environmental services cost of sales and $1,879,000 (2017 – $1,586,000) reflected under general expenses and mine site care and maintenance. Of the depreciation recorded for the year ended December 31, 2018, $375,000 (2017 – $265,000) were 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, 2018 | |
Mining assets [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Disclosure Of Mineral Properties [Text Block] | 14. Mineral Properties December 31 2017 (restated – note 6) Expenditures Incurred December 31 2018 Mineral Properties Keno Hill District Properties Bellekeno $ 6,885 $ 238 $ 7,123 Lucky Queen 693 131 824 Onek 1,034 31 1,065 McQuesten i 1,997 - 1,997 Silver King 4,464 - 4,464 Flame & Moth 22,455 5,856 28,311 Bermingham 23,376 8,708 32,084 Elsa Tailings 884 - 884 Other Keno Hill Properties 2,799 2,675 5,474 Total $ 64,587 $ 17,639 $ 82,226 December 31 2016 (restated – note 6) Expenditures Incurred December 31 2017 (restated - note 6) Mineral Properties Keno Hill District Properties Bellekeno $ 6,809 $ 76 $ 6,885 Lucky Queen 563 130 693 Onek 1,018 16 1,034 McQuesten i 1,924 73 1,997 Silver King 4,464 - 4,464 Flame & Moth 21,966 489 22,455 Bermingham 15,193 8,183 23,376 Elsa Tailings 884 - 884 Other Keno Hill Properties 2,799 - 2,799 Total $ 55,620 $ 8,967 $ 64,587 (i) 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 $2,600,000 in exploration expenditures ($717,000 incurred to December 31, 2018), issue 1,600,000 shares (800,000 shares received to December 31, 2018), 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. Mining Operations Properties Exploration and Evaluation Properties Total December 31, 2018 Cost $ 99,472 $ 73,213 $ 172,685 Accumulated depletion and write-downs (90,459 ) - (90,459 ) Net book value $ 9,013 $ 73,213 $ 82,226 December 31, 2017 (restated – note 6) Cost $ 99,071 $ 55,975 $ 155,046 Accumulated depletion and write-downs (90,459 ) - (90,459 ) Net book value $ 8,612 $ 55,975 $ 64,587 (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 amended and restated Subsidiary Agreement (“ARSA”) include that ERDC is required to pay into a separate reclamation trust a 1.5% net smelter return royalty, to an aggregate maximum of $4 million for all production units, from any future production from the former UKHM mineral rights, commencing once earnings from mining before interest, taxes and depreciation exceed actual exploration costs, to a maximum of $6.2 million, plus actual development and construction capital. That commencement threshold was achieved during the year ended December 31, 2013, and as at December 31, 2018 a total of $37,000 in such royalties had been paid. Additionally, a portion of any future proceeds from sales of the acquired UKHM assets must also be paid into the separate reclamation trust. Also substantially unchanged by the ARSA are the indemnification of pre-existing conditions and the right to bring any mine into production on the former UKHM mineral rights. The rights of the Government of Canada under the Subsidiary Agreement and the ARSA are supported by a general security agreement over all of the assets of ERDC. The ARSA can be terminated at ERDC’s election should a closure reclamation plan be prepared but not accepted and approved, and at the Government’s election should ERDC be declared in default under the ARSA. (b) Mining Operations on care and maintenance The Corporation’s historical mining operations reflected production from one mine, Bellekeno, a primary silver mine with lead, zinc and gold by-products. During the second quarter of 2013, both the Lucky Queen and Onek properties were reclassified from exploration and evaluation assets to mining operations assets as a result of the receipt of remaining operating permits, though neither property has as yet been placed into production. 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% net smelter return royalty, to an aggregate maximum of $4 million for all production units. Certain of the Corporation’s non-UKHM mineral rights located within or proximal to the McQuesten property are subject to a net smelter return royalty ranging from 0.5% to 2%. Certain other of the non-UKHM mineral rights located within the McQuesten property are subject to a separate net smelter return royalty of 2% all of which are incorporated under the Option Agreement with Banyan. A limited number of the Corporation’s non-UKHM mineral rights located throughout the remainder of the Keno Hill District are subject to net smelter return royalties ranging from 1% to 1.5%. |
Embedded Derivative Asset and S
Embedded Derivative Asset and Silver Stream | 12 Months Ended |
Dec. 31, 2018 | |
Embedded Derivative Asset and Silver Stream [Abstract] | |
Disclosure Of Embedded Derivative Asset and Silver Stream [Text Block] | 15. Embedded Derivative Asset and Silver Stream December 31 2018 December 31 2017 (restated – note 6) Embedded derivative asset – Beginning of year $ 6,600 $ - Embedded derivative asset - Addition - 6,600 Fair value adjustment 3,071 - Embedded derivative asset – End of year $ 9,671 $ 6,600 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% of the life of mine payable silver produced by the Corporation from its Keno Hill Silver District properties. The SPA anticipated that the initial silver deliveries would come from the Bellekeno property. Under the SPA, the Corporation received up-front deposit payments from Wheaton totaling US$50,000,000, and received further payments of the lesser of US$3.90 (increasing by 1% per annum after the third year of full production) and the prevailing market price for each ounce of payable silver delivered, if as and when delivered. After the initial 40 year term of the SPA, the Corporation is required to refund the balance of any advance payments received and not yet notionally reduced through silver deliveries. The Corporation would also be required to refund the balance of advance payments received and not yet reduced if Wheaton exercised its right to terminate the SPA in an event of default by the Corporation. As of September 2013, Bellekeno mining operations were suspended in light of a low silver price environment. On March 29, 2017 the Corporation and Wheaton amended the SPA (the “Amended SPA, such that Wheaton will continue to receive 25% of the life of mine payable silver from the Keno Hill Silver District with a variable production payment based on monthly silver head grade and monthly silver spot price. The actual monthly production payment from Wheaton will be determined based on the monthly average silver head grade at the mill and the monthly average silver spot price, as determined by a grade and pricing curve with an upper ceiling grade of 1,400 grams per tonne (“g/t”) silver and price of US$25 per ounce of silver and a floor grade of 600 g/t silver and price of US$13 per ounce of silver. Additional terms of the amendment include a date for completion of the 400 tonne per day mine and mill completion test, which is reset to December 31, 2020. If the completion test is not satisfied by December 31, 2020, the Corporation will be required to pay a capacity related refund to Wheaton in the maximum amount of US$8,788,000, which can be further proportionately reduced by mine production and mill throughput exceeding 322 tonnes per day for a 30 day period prior to December 31, 2020. The Amended SPA is secured against the Corporation’s mineral properties until repayment of the original deposit of US$50,000,000. In consideration of the foregoing amendments, the Corporation issued 3,000,000 shares to Wheaton with a fair value of $6,600,000 (US$4,934,948). Under the terms of the Amended SPA, the original US$50,000,000 deposit was notionally reduced by this amount. The variability in the future cash flows to be received from Wheaton upon extraction and delivery of their 25% interest of future production is considered an embedded derivative within this host contract under IFRS 9, Financial Instruments . The embedded derivative asset was initially recorded at fair value based on the value of the consideration paid to Wheaton and is to be re-measured at fair value on a recurring basis at each period end with changes in value being recorded within the Statement of Loss. As at December 31, 2018, 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 per ounce production payment Wheaton would pay for each payable ounce delivered under the SPA and the new production payment under the Amended SPA which varies depending on the monthly silver head grade and monthly silver price. The model currently relies upon inputs from the preliminary economic assessment (the “PEA”), such as payable ounces delivered and head grade, but will be updated in the future as a result of updated studies, mine plans and actual production. The valuation model for the embedded derivative has been updated to utilize a probability-based dynamic pricing structure as opposed to a static pricing structure. As such, the discount rate used and silver price assumptions are updated quarterly based on the risk-free yield curve and silver price forward curve at quarter end. |
Accounts payable and accrued li
Accounts payable and accrued liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Accounts Payables And Accrued Liabilities [Abstract] | |
Disclosure of accrued expenses and other liabilities [text block] | 16. Accounts payable and accrued liabilities December 31 2018 December 31 2017 Trade payables $ 3,567 $ 1,468 Accrued liabilities and other 3,643 2,133 $ 7,210 $ 3,601 |
Credit Facility
Credit Facility | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Credit Facility [Abstract] | |
Disclosure Of Credit Facility [Text Block] | 17. Credit Facility 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 credit facility (the “Credit Facility”). The Credit Facility has the following key terms: · Term of 3 · Interest rate on funds drawn down: the greater of o 7% plus US Dollar 3 month LIBOR and o 8% per annum, payable monthly · Repayable in quarterly installments from October 31, 2019 through to the Maturity Date · Upon draw down of funds a 3% draw down fee is charged · 1,000,000 share purchase warrants were issued to Sprott with a five-year term, an exercise price of $2.25 per share and a right by the Corporation to accelerate the expiry date to 30 days following the closing price of the shares exceeding $5.63 for more than 20 consecutive trading days · Repayable in whole or in part, without penalty, provided not less than twelve (12) months of interest has been paid on any outstanding amount · On February 14, 2019 the Corporation extended the availability period of draw down to August 23, 2019 from February 23, 2019 by issuing to Sprott 171,480 As of December 31, 2018, no amounts have been drawn down on the Credit Facility. |
Decommissioning and Rehabilitat
Decommissioning and Rehabilitation Provision | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of other provisions [abstract] | |
Disclosure of other provisions [text block] | 18. Decommissioning and Rehabilitation Provision December 31 2018 December 31 2017 Balance – beginning of year $ 5,055 $ 4,955 Increase due to re-estimation 163 37 Accretion expense, included in finance costs 68 63 Balance – end of year $ 5,286 $ 5,055 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, Bermingham, Lucky Queen and Onek mines. These activities include water treatment, land rehabilitation, ongoing care and maintenance and other reclamation and closure related requirements. The total inflation adjusted estimated cash flows required to settle the decommissioning and rehabilitation provision is estimated to be $6,561,000 (2017 – $6,187,000), with the expenditures expected to be incurred substantially over the course of the next 20 years. In determining the carrying value of the decommissioning and rehabilitation provision as at December 31, 2018, the Corporation has used a risk-free discount rate of 2.08% (2017 – 2.11%) and an inflation rate of 2.0% (2017 – 2.0%) resulting in a discounted amount of $5,204,000 (2017 – $5,055,000). |
Capital and Reserves
Capital and Reserves | 12 Months Ended |
Dec. 31, 2018 | |
Capital and reserves [Abstract] | |
Disclosure Of Share Capital Reserves And Other EquityInterest Explanatory [Text Block] | 19. Capital and Reserves Shareholders’ Equity The Corporation is authorized to issue an unlimited number of common shares without par value. The following share transactions took place during the year ended December 31, 2018: 1. On June 13, 2018, the Corporation completed a bought deal public offering and issued 4,703,000 flow-through common shares at a blended price of $1.92 per share for aggregate gross proceeds of $9,041,150. The Corporation incurred share issuance costs of $989,000. 2. 281,666 stock options were exercised for proceeds of $217,000. 3. 1,167,351 warrants were exercised for proceeds of $2,027,000. 4. 318,036 common shares were issued from treasury on the vesting of restricted share units (“RSUs”). 5. 10,000 common shares were issued from treasury in accordance with an option agreement. 6. 237,999 common shares were issued from treasury as consideration for the acquisition of Contango. On September 21, 2018 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 during the 25-month period following September 21, 2018. Warrants The changes in warrants outstanding are summarized as follows: Expiry Date Exercise Price Balance at December 31, 2017 Issued Exercised Expired Balance at December 31, 2018 May 17, 2018 $ 1.75 4,868,620 - (1,106,451 ) (3,762,169 ) - May 17, 2018 $ 1.49 60,900 - (60,900 ) - - May 30, 2019 $ 2.15 126,174 - - - 126,174 Feb 23, 2023 $ 2.25 - 1,000,000 - - 1,000,000 5,055,694 1,000,000 (1,167,351 ) (3,762,169 ) 1,126,174 On February 23, 2018 1,000,000 warrants were issued as a fee for the Credit Facility with Sprott (Note 17). The warrants were capitalized as a pre-payment for services, and are being amortized over the availability period of the facility to which it relates. The fair value of the warrants at the date of issuance was estimated using the Black-Scholes option pricing model, assuming a risk-free rate of 1.94% per annum, an expected life of options of 5 years, an expected volatility of 73% based on historical volatility, and no expected dividends. 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, 2018, a total of 7,738,833 stock options and 273,989 RSUs were outstanding under the New Plan and a total of 2,787,068 remain available for future grants. Incentive Stock Options Generally stock options under the Equity Incentive Plan have a maximum term of five years, vesting 25% upon granting and 25% each six months thereafter. The exercise price may not be less than the immediately preceding five day volume weighted average price of the Corporation’s common shares traded through the facilities of the exchange on which the Corporation’s common shares are listed. The changes in incentive share options outstanding are summarized as follows: Weighted average exercise price Number of shares issued or issuable on exercise Amount Balance – December 31, 2017 $ 2.06 6,546,666 $ 6,258 Stock options granted $ 2.07 2,524,000 - Share-based compensation expense - - 2,480 Options exercised $ 0.77 (281,666 ) (106 ) Options forfeited or expired $ 5.39 (1,050,167 ) (3,163 ) Balance – December 31, 2018 $ 1.66 7,738,833 $ 5,469 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 During the year ended December 31, 2018, the fair value of options at the date of grant was estimated using the Black-Scholes option pricing model, assuming a risk-free rate ranging from 2.01% to 2.16% (2017 – 1.02%) per annum, an expected life of options of 4 years (2017 – 4 years), an expected volatility average of 73% based on historical volatility (2017 – 73%), an expected forfeiture rate average of 2% (2017 – 4%) and no expected dividends (2017 – nil). Incentive share options outstanding and exercisable at December 31, 2018 are summarized as follows: Options Outstanding Options Exercisable Exercise Price Number of Shares Issuable on Exercise Average Remaining Life (Years) Average Exercise Price Number of Shares Issuable on Exercise Average Exercise Price $0.60 35,000 0.96 $ 0.60 35,000 $ 0.60 $0.60 989,333 1.12 $ 0.60 989,333 $ 0.60 $0.84 1,422,500 2.12 $ 0.84 1,422,500 $ 0.84 $1.73 600,000 2.44 $ 1.73 600,000 $ 1.73 $1.75 42,000 3.63 $ 1.75 42,000 $ 1.75 $1.78 150,000 2.49 $ 1.78 150,000 $ 1.78 $1.93 60,000 4.36 $ 1.93 30,000 $ 1.93 $1.94 475,000 0.12 $ 1.94 475,000 $ 1.94 $2.07 1,834,000 4.08 $ 2.07 917,000 $ 2.07 $2.07 587,000 4.08 $ 2.07 - $ 2.07 $2.32 1,544,000 3.09 $ 2.32 1,544,000 $ 2.32 7,738,833 2.73 $ 1.66 6,204,833 $ 1.55 The weighted average share price at the date of exercise for options exercised during the year ended December 31, 2018 was $1.96 (2017 – $2.26). During the year ended December 31, 2018, the Corporation recorded total share-based compensation expense of $2,480,000 (2017 – $2,204,000), which related to incentive share options, of which $368,000 (2017 – $369,000) was recorded to mineral properties and $2,112,000 (2017 – $1,835,000) has been charged to income. Subsequent to December 31, 2018, a further 2,029,000 incentive stock options have been granted with an exercise price of $1.27, 70,000 stock options were exercised, 475,000 stock options expired unexercised and nil stock options were forfeited. Restricted Share Units Generally RSUs vest one-third upon issuance and one third on each of the first and second anniversary dates of the issuance date. As at December 31, 2018, a total of 273,989 RSUs were outstanding. The changes in RSUs outstanding are summarized as follows: Number of shares issued or issuable on vesting Amount Balance – December 31, 2017 398,325 $ 401 RSUs granted 193,700 - Share-based compensation expense recognized - 467 RSUs vested (318,036 ) (497 ) Balance – December 31, 2018 273,989 $ 371 Balance – December 31, 2016 452,950 $ 220 RSUs granted 235,000 - Share-based compensation expense recognized - 524 RSUs vested (289,625 ) (343 ) Balance – December 31, 2017 398,325 $ 401 During the year ended December 31, 2018 the Corporation granted a total of 193,700 RSUs (2017 – 235,000) with a total grant-date fair value determined to be $399,000 (2017 - $545,000). Included in general and administrative expenses for the year ended December 31, 2018 is share-based compensation expense of $467,000 (2017 –$524,000) related to RSU awards. The weighted average share price at the date of vesting for RSUs during the year ended December 31, 2018 was $1.72 (2017 - $2.31). Subsequent to December 31, 2018, a total of 625,000 RSUs were granted and 386,655 RSUs vested. |
Revenue from Environmental Serv
Revenue from Environmental Services | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of revenue [Abstract] | |
Disclosure Of Revenue From Environmental Services [Text Block] | 20. Revenue from Environmental Services The Corporation recorded environmental services revenue for the years ending December 31, 2018 and 2017 as follows: Environmental Services 2018 2017 Environmental services revenue Fee for service $ 15,007 $ 9,882 Fixed price agreements 4,873 850 $ 19,880 $ 10,732 |
General and Administrative Expe
General and Administrative Expenses by Nature of Expense | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of General And Administrative Expenses [Abstract] | |
Disclosure of general and administrative expense [text block] | 21. General and Administrative Expenses by Nature of Expense The Corporation recorded general and administrative expenses for the years ending December 31, 2018 and 2017 as follows: Corporate 2018 2017 General and administrative expenses Depreciation $ 94 $ 89 Amortization of intangible assets 11 13 Business development and investor relations 451 567 Office, operating and non-operating overheads 788 682 Professional 832 433 Regulatory 184 309 Restructuring costs 92 1,353 Salaries and contractors 2,262 2,112 Share-based compensation 2,544 2,305 Travel 240 301 $ 7,498 $ 8,164 Environmental Services 2018 2017 General and administrative expenses Depreciation $ 126 $ 19 Amortization of intangible assets 39 59 Business development 370 164 Office, operating and non-operating overheads 1,262 756 Professional 142 29 Salaries and contractors 2,556 1,657 Travel 177 94 $ 4,672 2,778 Total General and Administrative Expenses $ 12,170 $ 10,942 |
Mine Site Care and Maintenance
Mine Site Care and Maintenance | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Exploration and evaluation Assets [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 22. Mine Site Care and Maintenance The Corporation recorded mine site care and maintenance expenses for the years ended December 31, 2018 and 2017 as follows: 2018 2017 (restated–note 6) Mine site care and maintenance Depreciation $ 1,292 $ 1,531 Salaries and 1 913 357 Materials and 1 346 - Other 1 52 - $ 2,603 $ 1,888 1. Included in mine site care and maintenance costs are refurbishment and mill maintance costs. |
Other Income and expenses
Other Income and expenses | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Other Operating Income Expense [Abstract] | |
Disclosure of other operating income (expense) [text block] | 23. Other Income and expenses The Corporation recorded other income and expenses for the years ended December 31, 2018 and 2017 as follows: 2018 2017 Credit Facility fee – warrants $ (930 ) $ - Interest income 241 188 Foreign exchange gain (loss) (15 ) 964 Other income (expenses) (68 ) (4 ) $ (772 ) $ 1,148 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of income tax [Abstract] | |
Disclosure of income tax [text block] | 24. Income Tax Expense The major components of income tax expense for the years ended December 31, 2018 and 2017 are as follows: (a) 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: 2018 2017 Accounting loss before taxes $ (6,994 ) $ (6,341 ) Federal and provincial income tax rate of 27% (2017 – 26%) (1,888 ) (1,648 ) Non-deductible permanent differences 1,064 495 Differences in foreign exchange rates - - Effect of difference in tax rates 2 2,488 Change in deferred tax asset not recognized 1,100 (1,075 ) Flow-through share renunciation 1,656 1,040 Change in estimate (427 ) (72 ) Other - 244 1,507 1,472 Income tax provision $ 1,507 $ 1,472 (b) 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 Property Interest Inventory Property, Plant and Equipment Other Total December 31, 2016 (restated Note 6) $ (1,483 ) $ (126 ) $ (1,505 ) $ (3,415 ) $ (6,529 ) (Charged) credit to the income statement (1,390 ) 13 41 41 (1,295 ) Charged to OCI - - - - - December 31, 2017 $ (2,873 ) $ (113 ) $ (1,464 ) $ (3,374 ) $ (7,824 ) (Charged) credited to the income statement (5,046 ) - (598 ) (2,930 ) (8,554 ) Charged to OCI - - - 20 20 December 31, 2018 $ (7,919 ) $ (113 ) $ (2,062 ) $ (6,284 ) $ (16,378 ) Deferred tax assets Mineral Property Interest Loss Carry Forward Property, Plant and Equipment Decommissioning and Rehabilitation Provision Other Total 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 Credited (charged) to the income statement 3,632 2,997 (5 ) 63 (612 ) (6,075 ) December 31, 2018 $ 4,471 $ 7,265 $ 72 $ 1,427 $ 49 $ 13,284 Net deferred tax liabilities December 31, 2017 (restated Note 6) $ (614 ) Charged to the income statement (2,504 ) Charged to OCI 20 December 31, 2018 $ (3,098 ) (c) At December 31, 2018, the Corporation has unrecognized tax attributes, noted below, that are available to offset future taxable income. The Corporation has not recognized 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 $ 40,650 Mineral property interest 11,150 Other 8,587 $ 60,387 As at December 31, 2018, 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: Total 2033 $ 1,952 2034 9,351 2035 6,685 2036 6,643 2037 8,302 2038 7,717 $ 40,650 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Financial Instrument [Abstract] | |
Disclosure of financial instruments [text block] | 25. Financial Instruments Financial Assets and Liabilities Information regarding the carrying amounts of the Corporation’s financial assets and liabilities is summarized as follows: Fair Value Hierarchy Classification December 31 2018 December 31 2017 Fair value through profit or loss Warrants Level 2 $ 24 $ 1,082 Embedded derivative - Wheaton agreement Level 3 $ 9,671 $ 6,600 Fair value through other comprehensive loss Investment in marketable securities Level 1 $ 736 $ 673 $ 10,431 $ 8,355 During the year ended December 31, 2018, the fair value of warrants were estimated using the Black-Scholes option pricing model, assuming a risk-free interest rate of 1.85% (2017 – 1.66%) per annum, an expected life of options of 0.62 to 1.98 years (2017 – 0.17 to 2.98 years), an expected volatility of 72% to 93% (2017 – 84%) based on historical volatility and no expected dividends (2017 – nil). During the year ended December 31, 2018, the fair value of the embedded derivative was estimated using a probability-based dynamic pricing structure resulting in a mark-to-market adjustment of $3,071,000 (2017 – nil). The model currently relies upon inputs from the preliminary economic assessment dated March 29, 2017, and considers payable ounces delivered and head grade. The model is updated quarterly for the discount rate used and silver price assumptions based on the risk-free yield curve and silver price forward curve at quarter end. The carrying amounts of all of the Corporation’s other financial assets and liabilities, carried at amortized cost, reasonably approximate their fair values due to their short-term nature. Financial Instrument Risk Exposure The Corporation’s activities expose it to a variety of financial risks: market risk (currency 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 6. 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. 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 2018 December 31 2017 Cash and cash equivalents $ 1,374 $ 1,336 Accounts and other receivable 917 510 Accounts payable and accrued liabilities (649 ) (298 ) Net exposure $ 1,642 $ 1,548 Based on the above net exposure at December 31, 2018, a 10% depreciation or appreciation of the US dollar against the Canadian dollar would result in an approximately $164,000 decrease or increase respectively in both net and comprehensive loss (2017 – $158,000). The Corporation has not employed any currency hedging programs during the current period. Credit Risk 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 2018 December 31 2017 Trade receivables Currently due $ 5,228 $ 1,035 Past due by 90 days or less, not impaired 1,375 940 Past due by greater than 90 days, not impaired 86 13 6,689 1,988 Cash 3,629 6,019 Demand deposits 4,947 11,887 Term deposits 2,725 7,092 $ 17,990 $ 26,986 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. Receivables that are past due by greater than 90 days have been subsequently collected. 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 26. 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 2018 December 31 2017 Accounts payable and accrued liabilities with contractual maturities Within 90 days or less $ 7,210 $ 3,601 In later than 90 days, not later than one year - - $ 7,210 $ 3,601 |
Management of Capital
Management of Capital | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of share capital, reserves and other equity interest [Abstract] | |
Disclosure of objectives, policies and processes for managing capital [text block] | 26. 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, 2018 remains fundamentally unchanged from the year ended December 31, 2017. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement Explanatory [Abstract] | |
Disclosure of cash flow statement [text block] | 27. Supplemental Cash Flow Information Supplemental cash flow information with respect to the year ended December 31, 2018 and 2017 is summarized as follows: 2018 2017 Operating Cash Flows Arising From Interest and Taxes Interest received $ 129 $ 221 Non-Cash Investing and Financing Transactions Capitalization of share-based compensation to mineral properties $ 368 $ 369 Capitalization of depreciation to mineral properties $ 375 $ 265 Capitalization of re-estimation of decommissioning and rehabilitation provision $ 163 $ 37 Issuance of shares related to acquistion of subsidiary $ 416 $ - Increase in non-cash working capital related to: Mining operations properties $ 6 $ (23 ) Exploration and evaluation properties $ 305 $ (1,130 ) |
Segmented Information
Segmented Information | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of operating segments [abstract] | |
Disclosure of entity's operating segments [text block] | 28. Segmented Information The Corporation had two operating segments during the years ended December 31, 2018 and 2017, being firstly mining operations, including care and maintenance of the formerly operating Bellekeno mine, producing silver, lead and zinc in the form of concentrates (suspended in September 2013), as well as exploration, underground development and evaluation activities; and secondly environmental services carried out through AEG, providing consulting and project management services in respect of environmental permitting and compliance and site remediation and reclamation. 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 by the chief operating decision maker with respect to resource allocation and for which discrete financial information is available. The chief operating decision maker for the Corporation is the Chief Executive Officer. 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. Revenue from non-Canadian customers of both operating segments was derived primarily from the United States. Segmented information as at and for the year ended December 31, 2018 and 2017 is summarized as follows: As at and for year ended December 31, 2018 Environmental Services Mining Corporate and Other Total Segment revenues External customers Canadian $ 13,105 $ - $ - $ 13,105 Non-Canadian 6,775 - - 6,775 Total revenues as reported 19,880 - - 19,880 Cost of sales 13,828 - - 13,828 Depreciation and amortization 165 1,292 105 1,562 Share-based compensation - - 2,544 2,544 Other G&A expenses 4,507 86 5,701 10,294 Mine site care and maintenance - 1,311 - 1,311 Foreign exchange (gain) loss 35 9 (29 ) 15 Loss on investments 113 459 572 Gain on derivative asset - (3,071 ) - (3,071 ) Other (income) loss (8 ) 68 (241 ) (181 ) Segment income (loss) before taxes $ 1,353 $ 192 $ (8,539 ) $ (6,994 )(i) Total assets $ 11,462 $ 113,341 $ 8,215 $ 133,018 Total liabilities $ 4,116 $ 10,284 $ 1,988 $ 16,388 As at and for year ended December 31, 2017 (restated – Note 6) Environmental Services Mining Corporate and Other 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 Depreciation and amortization 79 1,531 101 1,711 Share-based compensation - - 2,305 2,305 Other G&A expenses 2,700 - 4,404 7,104 Mine site care and maintenance - 357 - 357 Restructuring costs - - 1,353 1,353 Foreign exchange loss (1,080 ) (4 ) 120 (964 ) Gain on investments - - (1,341 ) (1,341 ) Other loss (income) 250 (247 ) (187 ) (184 ) Segment income (loss) before taxes $ 2,051 $ (1,637 ) $ (6,755 ) $ (6,341 )(i) Total assets $ 6,198 $ 98,303 $ 17,823 $ 122,324 Total liabilities $ 1,642 $ 6,762 $ 1,464 $ 9,868 (i) Represents consolidated loss before taxes. For the year ended December 31, 2018, revenue from three customers of the Corporation’s Environmental Services segment represents approximately $12,580,000 of the Corporation’s consolidated revenue. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of related party [text block] | 29. Related Party Transactions The Corporation’s related parties include its subsidiaries and key management personnel. Key management personnel compensation for the years ended December 31, 2018 and 2017 was as follows: (a) Key Management Personnel Compensation 2018 2017 Salaries and other short-term benefits $ 2,130 $ 2,246 Share-based compensation 2,513 2,072 $ 4,643 $ 4,318 Key management includes the Corporation’s Board of Directors and members of senior management. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Disclosure of commitments [text block] | 30. Commitments As at December 31, 2018, 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: 2019 $ 391 2020 283 2021 210 2022 210 2023 190 Thereafter 156 $ 1,440 (b) The Corporation’s other contractual obligations, including with respect to capital asset expenditures, totaled approximately $360,000. (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 $3,170,000 by December 31, 2019. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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., Elsa Reclamation & Development Corporation Ltd. (“ERDC”), Alexco Exploration Canada Corp., Alexco Environmental Group Inc., Alexco Environmental Group Holdings Inc., Alexco Water and Environment Inc. (“AWE”) and Contango Strategies Ltd. During the period January 1, 2017 through December 28, 2017, the date of the sale, 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] | (d) 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. 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 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. The Corporation has elected to follow a policy of applying the proceeds received from the silver streaming arrangement with Wheaton Precious Metals (“Wheaton”) explained further in Note 15, as a credit to the carrying value of the Exploration and Evaluation Property. Accordingly, this has been applied retrospectively and the initial deposit has been applied as an offset against the mineral interest asset, with the cumulative catch up adjustment in the amount of $12,396,000 recognized in January 1, 2017 opening retained earnings (Note 6). At each reporting date, exploration and evaluation assets are evaluated and may be classified as mining operations assets upon achieving 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 Revenue from environmental services are recognized upon the transfer of promised services or goods based on the output appropriate to the particular service contract and when a customer has the ability to direct the use and obtain the benefits from the service or good. The Corporation provides environmental services related to permitting and remediation activities, generally in the mining industry, as well provide engineering, design, construction and operational services related to water treatment systems. The Corporation identifies the performance obligations in the contract, and the obligations are measured by reference to the transaction price. The transaction price is established in the agreement as either a fixed price or rate per hour. If the contract has multiple performance obligations, the Corporation will assign the transaction price to the various performance obligations. The stand-alone selling price for services identified within the contract are determined based on detailed billing schedules included within the underlying contract with the customer or based on comparable projects where relevant. Generally, performance obligations for environmental services are satisfied over time as the service is provided. Revenue is recognized using the input method with the inputs being costs incurred on related projects. The general payment terms are 30 to 60 days once the performance obligations have been satisfied. Typical payments are received 30 days after the invoice has been received by the client. Management will assess and use significant judgement to determine whether the Corporation has promised to provide the specified good and service itself (as a principal) or to arrange for those specified goods or services to be provided by another party (as an agent). In those arrangements where the Corporation obtains control of the specified good or service before they are transferred to the customer, they will be deemed to act as a principal. In those arrangements were the Corporation is deemed to be the principal, the Corporation will recognize as revenue the “gross” amount paid by the customer for the specified good or service. If the Corporation acts an agent, it will record revenue as the net consideration that it retains for the specified good or service that was provided to the customer. |
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 the relevant contractual provisions. Measurement in subsequent periods depends on the financial instrument’s classification. The Corporation classifies the financial instruments in the following categories: at fair value through profit and loss (“FVTPL”), fair value through other comprehensive income (“FVTOCI”) or at amortized cost. (i) Classification The Corporation determines the classification of financial instruments at initial recognition. Financial assets a) Debt - The classification of debt instruments is driven by the Corporation’s business model for managing the financial assets and the relevant contractual cash flow characteristics. A debt instrument is measured at amortized cost if the objective of the business model is to hold the debt instrument for the collection of contractual cash flows, and the asset's contractual cash flows are comprised solely of payments of principal and interest. b) Equity Financial liabilities Financial liabilities are measured at amortized cost; unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or the Corporation has opted to measure at FVTPL. (ii) Measurement Financial assets and liabilities at FVTPL Financial assets and liabilities at FVTPL are initially recognized at fair value and transaction costs are expensed in the consolidated statement of income (loss). Realized and unrealized gains and losses arising from changes in the fair value of the financial assets or liabilities held at FVTPL are included in the consolidated statement of income (loss) in the period in which they occur. Where the Corporation has opted to designate a financial liability at FVTPL, any changes associated with our own credit risk will be recognized in Other Comprehensive Income (“OCI”). Financial assets at FVTOCI Investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently, the investments are measured at fair value, with gains and losses arising from changes from initial recognition recognized in OCI. Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value net of transaction costs, and subsequently carried at amortized cost adjusted by any impairment. Derivative financial instruments When the Corporation enters into derivative contracts, these are intended to reduce the exposures related to assets and liabilities, or forecast transactions. Derivatives are classified as FVTPL. Derivatives embedded in financial liabilities are treated as separate derivatives when their risks and characteristics are not closely related to the host contracts. However, the classification approach described above is applied to all financial assets, including those that contain embedded derivatives, without the need to separate the embedded derivative from the host contract. (iii) Impairment of financial assets Impairment of financial assets at amortized cost The Corporation recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. The Corporation is applying the simplified method for trade receivables and is calculating expected credit losses at an amount equal to the lifetime expected credit loss. Impairment losses on financial assets carried at amortized cost are reversed in subsequent periods if the expected credit losses are reversed after the impairment was recognized. (iv) Derecognition Derecognition of financial assets and liabilities Financial assets are derecognized when the investments mature or are sold, and substantially all the risks and rewards of ownership have been transferred. A financial liability is derecognized when the obligation under the liability is discharged, canceled or expired. Gains and losses on derecognition are recognized within finance income and finance costs, respectively. Gains or losses on equity financial assets designated as FVTOCI remain within accumulated OCI. (v) Fair value of financial instruments The fair values of quoted investments are based on current prices. If the market for a financial asset is not active, the Corporation establishes fair value by using valuation techniques. These include the use of recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, and option pricing models refined to reflect the financial asset’s specific circumstances. |
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 |
Description of accounting policy for goodwill [text block] | (r) Goodwill The Corporation recognizes goodwill relating to a business combination when the total purchase price exceeds the fair value of the identifiable assets and liabilities of the acquired business. Goodwill is tested annually for impairment of when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Should there be a recovery in value, there is no reversal of previous impairments of Goodwill. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 |
Impacts of Change in Accounti_2
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of information about consolidated structured entities [abstract] | |
Disclosure Of Information About Consolidated Consolidated Balance Sheets [Table Text Block] | The table below summarizes the adjustments to previously reported figures related to the policy change pertaining to IFRS 6, which is more fully described below: Adjustments to Condensed Consolidated Balance Sheets December 31 2017 January 1 2017 Equity before accounting changes $ 100,060 $ 90,673 Adjustments to equity relating to: Property plant and equipment 2,117 2,283 Mineral properties (10,229 ) (10,229 ) Deferred income tax liabilities 2,390 1,440 Silver streaming interest 18,118 18,118 Equity after accounting changes $ 112,456 $ 102,285 |
Disclosure Of Information About Consolidated Consolidated Statements Of Loss and Comprehensive [Table Text Block] | Adjustments to Condensed Consolidated Statements of Loss and Comprehensive Loss Year ended December 31 2017 Year ended January 1 2017 Loss before accounting changes $ (7,648 ) $ (4,359 ) Adjustments to loss relating to: Depreciation and amortization (165 ) (165 ) Loss after accounting changes $ (7,813 ) $ (4,524 ) Loss per share before accounting changes: Basic and diluted $ (0.08 ) $ (0.04 ) Loss per share after accounting changes: Basic and diluted $ (0.09 ) $ (0.05 ) |
Acquisition of Contango Strat_2
Acquisition of Contango Strategies Ltd (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of detailed information about business combination [abstract] | |
Disclosure of detailed information about business combination [text block] | The preliminary allocation of the purchase price of Contango based on management’s estimate of fair values is as follows: Fair value of consideration Amount settled in cash $ 602 Fair value of common shares issued 416 Fair value of cash to be settled in one year 370 Total fair value of consideration $ 1,388 Fair value of identifiable assets acquired and liabilities assumed from Contango: Cash and cash equivalents 66 Accounts and other receivables 618 Inventory 102 Prepaid expenses 54 Property, plant and equipment 333 Accounts payable and accrued liabilities (335 ) Net identifiable assets acquired and liabilities assumed $ 838 Goodwill on acquisition $ 550 Net cash outflow on acquisition $ 536 Acquisition costs charged to expenses $ 28 |
Summary of the revenues, cost of sales and net income (loss) [Text Block] | Below is a proforma summary of the revenues, cost of sales and net income (loss) incurred by Contango for the period January 1, 2018 to June 14, 2018 combined with the revenue, cost of sales and net loss for Alexco for the year ended December 31, 2018. Revenue since the date of acquisition was $1.4 million: Contango Strategies Ltd. Alexco Resource Corp. Proforma Combined Entities Selected Financial Information For the period January 1, 2018 to June 14, 2018 For the year ended December 31, 2018 For the year ended December 31, 2018 Environmental services revenue $ 1,162 $ 19,880 $ 21,042 Costs of sales and other expenses 1,026 28,381 29,407 Net income (loss) $ 136 $ (8,501 ) $ (8,365 ) |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Disclosure of cash and bank balances at central banks [text block] | December 31 2018 December 31 2017 Cash at bank and on hand $ 3,629 $ 6,019 Short-term bank deposits 4,947 11,887 $ 8,576 $ 17,906 |
Accounts and Other Receivables
Accounts and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounts and Other Receivables [Abstract] | |
Schedule Of Accounts And Other Receivables [Text Block] | December 31 2018 December 31 2017 Trade receivables 1 $ 6,689 $ 1,988 Interest and other 122 98 $ 6,811 $ 2,086 1. Trade receivables are derived primarily from the environmental consulting business (AEG). |
Restricted Cash and Deposits (T
Restricted Cash and Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Restricted Cash and Deposits [Abstract] | |
Schedule Of Restricted Cash And Cash Equivalent [Text Block] | December 31 2018 December 31 2017 Security for decommissioning obligations $ 2,569 $ 6,507 Security for remediation services agreement - 499 Other 156 86 Restricted cash and deposits 2,725 7,092 Less: current portion - 499 $ 2,725 $ 6,593 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Investments [Abstract] | |
Schedule of Investments [Text Block] | December 31 2018 December 31 2017 Common shares held $ 736 $ 673 Warrants held 24 1,082 Investments 760 1,755 Less: current portion 351 728 $ 409 $ 1,027 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Classes of current inventories [abstract] | |
Disclosure of Detailed Information on inventories [Text Block] | December 31 2018 December 31 2017 Ore in stockpiles and mill supplies $ 4,699 $ 4,743 Materials and supplies 818 646 Inventory 5,517 5,389 Less: current portion 818 646 $ 4,699 $ 4,743 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Disclosure of detailed information about property, plant and equipment [text block] | Cost Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 1,709 $ 5,343 $ 22,749 $ 8,475 $ 1,335 $ 39,611 Additions (includes business combinations) - 226 - 837 168 1,231 Decommission change in estimate - - 85 - - 85 December 31, 2018 $ 1,709 $ 5,569 $ 22,834 $ 9,312 $ 1,503 $ 40,927 Accumulated Depreciation Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 351 $ 4,692 $ 10,270 $ 6,767 $ 1,275 $ 23,355 Depreciation (includes business combinations) 78 177 1,178 766 140 2,339 Disposal - - - - - - December 31, 2018 $ 429 $ 4,869 $ 11,448 $ 7,533 $ 1,415 $ 25,694 Net book Value Land and Buildings Camp, Roads, and Other Site Ore Processing Mill Heavy Machinery and Equipment Leasehold Improvements & Other Total December 31, 2017 (restated – note 6) $ 1,358 $ 651 $ 12,479 $ 1,708 $ 60 $ 16,256 December 31, 2018 $ 1,280 $ 700 $ 11,386 $ 1,779 $ 88 $ 15,233 |
Mineral Properties (Tables)
Mineral Properties (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Mineral Properties [Abstract] | |
Disclosure of detailed information about investment property [text block] | December 31 2017 (restated – note 6) Expenditures Incurred December 31 2018 Mineral Properties Keno Hill District Properties Bellekeno $ 6,885 $ 238 $ 7,123 Lucky Queen 693 131 824 Onek 1,034 31 1,065 McQuesten i 1,997 - 1,997 Silver King 4,464 - 4,464 Flame & Moth 22,455 5,856 28,311 Bermingham 23,376 8,708 32,084 Elsa Tailings 884 - 884 Other Keno Hill Properties 2,799 2,675 5,474 Total $ 64,587 $ 17,639 $ 82,226 December 31 2016 (restated – note 6) Expenditures Incurred December 31 2017 (restated - note 6) Mineral Properties Keno Hill District Properties Bellekeno $ 6,809 $ 76 $ 6,885 Lucky Queen 563 130 693 Onek 1,018 16 1,034 McQuesten i 1,924 73 1,997 Silver King 4,464 - 4,464 Flame & Moth 21,966 489 22,455 Bermingham 15,193 8,183 23,376 Elsa Tailings 884 - 884 Other Keno Hill Properties 2,799 - 2,799 Total $ 55,620 $ 8,967 $ 64,587 (i) 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 $2,600,000 in exploration expenditures ($717,000 incurred to December 31, 2018), issue 1,600,000 shares (800,000 shares received to December 31, 2018), 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. |
Schedule Of Changes In Mineral Properties [Text Block] | Mining Operations Properties Exploration and Evaluation Properties Total December 31, 2018 Cost $ 99,472 $ 73,213 $ 172,685 Accumulated depletion and write-downs (90,459 ) - (90,459 ) Net book value $ 9,013 $ 73,213 $ 82,226 December 31, 2017 (restated – note 6) Cost $ 99,071 $ 55,975 $ 155,046 Accumulated depletion and write-downs (90,459 ) - (90,459 ) Net book value $ 8,612 $ 55,975 $ 64,587 |
Embedded Derivative Asset and_2
Embedded Derivative Asset and Silver Stream (Table) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Derivative Financial Instrument [Abstract] | |
Disclosure Of Derivative Financial Instruments | December 31 2018 December 31 2017 (restated – note 6) Embedded derivative asset – Beginning of year $ 6,600 $ - Embedded derivative asset - Addition - 6,600 Fair value adjustment 3,071 - Embedded derivative asset – End of year $ 9,671 $ 6,600 |
Accounts payable and accrued _2
Accounts payable and accrued liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounts Payables And Accrued Liabilities [Abstract] | |
Schedule Of Accounts Payable And Accrued Liabilities [Text Block] | December 31 2018 December 31 2017 Trade payables $ 3,567 $ 1,468 Accrued liabilities and other 3,643 2,133 $ 7,210 $ 3,601 |
Decommissioning and Rehabilit_2
Decommissioning and Rehabilitation Provision (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of other provisions [abstract] | |
Disclosure of detailed information about decommissioning and rehabilitation provision [Text Block] | December 31 2018 December 31 2017 Balance – beginning of year $ 5,055 $ 4,955 Increase due to re-estimation 163 37 Accretion expense, included in finance costs 68 63 Balance – end of year $ 5,286 $ 5,055 |
Capital and Reserves (Tables)
Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 average exercise price Number of shares issued or issuable on exercise Amount Balance – December 31, 2017 $ 2.06 6,546,666 $ 6,258 Stock options granted $ 2.07 2,524,000 - Share-based compensation expense - - 2,480 Options exercised $ 0.77 (281,666 ) (106 ) Options forfeited or expired $ 5.39 (1,050,167 ) (3,163 ) Balance – December 31, 2018 $ 1.66 7,738,833 $ 5,469 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 |
Disclosure of range of exercise prices of outstanding share options [text block] | Incentive share options outstanding and exercisable at December 31, 2018 are summarized as follows: Options Outstanding Options Exercisable Exercise Price Number of Shares Issuable on Exercise Average Remaining Life (Years) Average Exercise Price Number of Shares Issuable on Exercise Average Exercise Price $0.60 35,000 0.96 $ 0.60 35,000 $ 0.60 $0.60 989,333 1.12 $ 0.60 989,333 $ 0.60 $0.84 1,422,500 2.12 $ 0.84 1,422,500 $ 0.84 $1.73 600,000 2.44 $ 1.73 600,000 $ 1.73 $1.75 42,000 3.63 $ 1.75 42,000 $ 1.75 $1.78 150,000 2.49 $ 1.78 150,000 $ 1.78 $1.93 60,000 4.36 $ 1.93 30,000 $ 1.93 $1.94 475,000 0.12 $ 1.94 475,000 $ 1.94 $2.07 1,834,000 4.08 $ 2.07 917,000 $ 2.07 $2.07 587,000 4.08 $ 2.07 - $ 2.07 $2.32 1,544,000 3.09 $ 2.32 1,544,000 $ 2.32 7,738,833 2.73 $ 1.66 6,204,833 $ 1.55 |
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 Price Balance at December 31, 2017 Issued Exercised Expired Balance at December 31, 2018 May 17, 2018 $ 1.75 4,868,620 - (1,106,451 ) (3,762,169 ) - May 17, 2018 $ 1.49 60,900 - (60,900 ) - - May 30, 2019 $ 2.15 126,174 - - - 126,174 Feb 23, 2023 $ 2.25 - 1,000,000 - - 1,000,000 5,055,694 1,000,000 (1,167,351 ) (3,762,169 ) 1,126,174 |
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 shares issued or issuable on vesting Amount Balance – December 31, 2017 398,325 $ 401 RSUs granted 193,700 - Share-based compensation expense recognized - 467 RSUs vested (318,036 ) (497 ) Balance – December 31, 2018 273,989 $ 371 Balance – December 31, 2016 452,950 $ 220 RSUs granted 235,000 - Share-based compensation expense recognized - 524 RSUs vested (289,625 ) (343 ) Balance – December 31, 2017 398,325 $ 401 |
Revenue from Environmental Se_2
Revenue from Environmental Services (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of revenue [Abstract] | |
Disclosure Of Detailed Information About Revenue From Services text block [Text Block] | The Corporation recorded environmental services revenue for the years ending December 31, 2018 and 2017 as follows: Environmental Services 2018 2017 Environmental services revenue Fee for service $ 15,007 $ 9,882 Fixed price agreements 4,873 850 $ 19,880 $ 10,732 |
General and Administrative Ex_2
General and Administrative Expenses by Nature of Expense (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 ending December 31, 2018 and 2017 as follows: Corporate 2018 2017 General and administrative expenses Depreciation $ 94 $ 89 Amortization of intangible assets 11 13 Business development and investor relations 451 567 Office, operating and non-operating overheads 788 682 Professional 832 433 Regulatory 184 309 Restructuring costs 92 1,353 Salaries and contractors 2,262 2,112 Share-based compensation 2,544 2,305 Travel 240 301 $ 7,498 $ 8,164 Environmental Services 2018 2017 General and administrative expenses Depreciation $ 126 $ 19 Amortization of intangible assets 39 59 Business development 370 164 Office, operating and non-operating overheads 1,262 756 Professional 142 29 Salaries and contractors 2,556 1,657 Travel 177 94 $ 4,672 2,778 Total General and Administrative Expenses $ 12,170 $ 10,942 |
Mine Site Care and Maintenance
Mine Site Care and Maintenance (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017 as follows: 2018 2017 (restated–note 6) Mine site care and maintenance Depreciation $ 1,292 $ 1,531 Salaries and 1 913 357 Materials and 1 346 - Other 1 52 - $ 2,603 $ 1,888 1. Included in mine site care and maintenance costs are refurbishment and mill maintance costs. |
Other Income and expenses (Tabl
Other Income and expenses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Other Operating Income Expense [Abstract] | |
Disclosure Of Other Operating Income Expense | The Corporation recorded other income and expenses for the years ended December 31, 2018 and 2017 as follows: 2018 2017 Credit Facility fee – warrants $ (930 ) $ - Interest income 241 188 Foreign exchange gain (loss) (15 ) 964 Other income (expenses) (68 ) (4 ) $ (772 ) $ 1,148 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of income tax [Abstract] | |
Detailed Information for Reconciliation Of Income Tax Provision [Text Block] | (a) 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: 2018 2017 Accounting loss before taxes $ (6,994 ) $ (6,341 ) Federal and provincial income tax rate of 27% (2017 – 26%) (1,888 ) (1,648 ) Non-deductible permanent differences 1,064 495 Differences in foreign exchange rates - - Effect of difference in tax rates 2 2,488 Change in deferred tax asset not recognized 1,100 (1,075 ) Flow-through share renunciation 1,656 1,040 Change in estimate (427 ) (72 ) Other - 244 1,507 1,472 Income tax provision $ 1,507 $ 1,472 |
Disclosure of temporary difference, unused tax losses and unused tax credits [text block] | (b) 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 Property Interest Inventory Property, Plant and Equipment Other Total December 31, 2016 (restated Note 6) $ (1,483 ) $ (126 ) $ (1,505 ) $ (3,415 ) $ (6,529 ) (Charged) credit to the income statement (1,390 ) 13 41 41 (1,295 ) Charged to OCI - - - - - December 31, 2017 $ (2,873 ) $ (113 ) $ (1,464 ) $ (3,374 ) $ (7,824 ) (Charged) credited to the income statement (5,046 ) - (598 ) (2,930 ) (8,554 ) Charged to OCI - - - 20 20 December 31, 2018 $ (7,919 ) $ (113 ) $ (2,062 ) $ (6,284 ) $ (16,378 ) Deferred tax assets Mineral Property Interest Loss Carry Forward Property, Plant and Equipment Decommissioning and Rehabilitation Provision Other Total 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 Credited (charged) to the income statement 3,632 2,997 (5 ) 63 (612 ) (6,075 ) December 31, 2018 $ 4,471 $ 7,265 $ 72 $ 1,427 $ 49 $ 13,284 Net deferred tax liabilities December 31, 2017 (restated Note 6) $ (614 ) Charged to the income statement (2,504 ) Charged to OCI 20 December 31, 2018 $ (3,098 ) |
Detailed Information Of Unrecognised Tax Attributes [Text Block] | (c) At December 31, 2018, the Corporation has unrecognized tax attributes, noted below, that are available to offset future taxable income. The Corporation has not recognized 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 $ 40,650 Mineral property interest 11,150 Other 8,587 $ 60,387 |
Disclosure Of Detailed Information Of Unrecognised And Unused Tax Losses [Text Block] | As at December 31, 2018, 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: Total 2033 $ 1,952 2034 9,351 2035 6,685 2036 6,643 2037 8,302 2038 7,717 $ 40,650 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 Hierarchy Classification December 31 2018 December 31 2017 Fair value through profit or loss Warrants Level 2 $ 24 $ 1,082 Embedded derivative - Wheaton agreement Level 3 $ 9,671 $ 6,600 Fair value through other comprehensive loss Investment in marketable securities Level 1 $ 736 $ 673 $ 10,431 $ 8,355 |
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 2018 December 31 2017 Cash and cash equivalents $ 1,374 $ 1,336 Accounts and other receivable 917 510 Accounts payable and accrued liabilities (649 ) (298 ) Net exposure $ 1,642 $ 1,548 |
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 2018 December 31 2017 Trade receivables Currently due $ 5,228 $ 1,035 Past due by 90 days or less, not impaired 1,375 940 Past due by greater than 90 days, not impaired 86 13 6,689 1,988 Cash 3,629 6,019 Demand deposits 4,947 11,887 Term deposits 2,725 7,092 $ 17,990 $ 26,986 |
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 2018 December 31 2017 Accounts payable and accrued liabilities with contractual maturities Within 90 days or less $ 7,210 $ 3,601 In later than 90 days, not later than one year - - $ 7,210 $ 3,601 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement Explanatory [Abstract] | |
Schedule Of Supplimental Cash Flow Information [Text Block] | Supplemental cash flow information with respect to the year ended December 31, 2018 and 2017 is summarized as follows: 2018 2017 Operating Cash Flows Arising From Interest and Taxes Interest received $ 129 $ 221 Non-Cash Investing and Financing Transactions Capitalization of share-based compensation to mineral properties $ 368 $ 369 Capitalization of depreciation to mineral properties $ 375 $ 265 Capitalization of re-estimation of decommissioning and rehabilitation provision $ 163 $ 37 Issuance of shares related to acquistion of subsidiary $ 416 $ - Increase in non-cash working capital related to: Mining operations properties $ 6 $ (23 ) Exploration and evaluation properties $ 305 $ (1,130 ) |
Segmented Information (Tables)
Segmented Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of operating segments [abstract] | |
Disclosure of operating segments [text block] | Segmented information as at and for the year ended December 31, 2018 and 2017 is summarized as follows: As at and for year ended December 31, 2018 Environmental Services Mining Corporate and Other Total Segment revenues External customers Canadian $ 13,105 $ - $ - $ 13,105 Non-Canadian 6,775 - - 6,775 Total revenues as reported 19,880 - - 19,880 Cost of sales 13,828 - - 13,828 Depreciation and amortization 165 1,292 105 1,562 Share-based compensation - - 2,544 2,544 Other G&A expenses 4,507 86 5,701 10,294 Mine site care and maintenance - 1,311 - 1,311 Foreign exchange (gain) loss 35 9 (29 ) 15 Loss on investments 113 459 572 Gain on derivative asset - (3,071 ) - (3,071 ) Other (income) loss (8 ) 68 (241 ) (181 ) Segment income (loss) before taxes $ 1,353 $ 192 $ (8,539 ) $ (6,994 )(i) Total assets $ 11,462 $ 113,341 $ 8,215 $ 133,018 Total liabilities $ 4,116 $ 10,284 $ 1,988 $ 16,388 As at and for year ended December 31, 2017 (restated – Note 6) Environmental Services Mining Corporate and Other 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 Depreciation and amortization 79 1,531 101 1,711 Share-based compensation - - 2,305 2,305 Other G&A expenses 2,700 - 4,404 7,104 Mine site care and maintenance - 357 - 357 Restructuring costs - - 1,353 1,353 Foreign exchange loss (1,080 ) (4 ) 120 (964 ) Gain on investments - - (1,341 ) (1,341 ) Other loss (income) 250 (247 ) (187 ) (184 ) Segment income (loss) before taxes $ 2,051 $ (1,637 ) $ (6,755 ) $ (6,341 )(i) Total assets $ 6,198 $ 98,303 $ 17,823 $ 122,324 Total liabilities $ 1,642 $ 6,762 $ 1,464 $ 9,868 (i) Represents consolidated loss before taxes. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 and 2017 was as follows: (a) Key Management Personnel Compensation 2018 2017 Salaries and other short-term benefits $ 2,130 $ 2,246 Share-based compensation 2,513 2,072 $ 4,643 $ 4,318 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Commitments And Contingencies [Abstract] | |
Disclosure of finance lease and operating lease by lessee [text block] | As at December 31, 2018, 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: 2019 $ 391 2020 283 2021 210 2022 210 2023 190 Thereafter 156 $ 1,440 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2018 | |
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 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details Textual) | Jan. 01, 2017USD ($) |
Summary of Significant Accounting Policies [Abstract] | |
Initial Deposit On Mineral Asset | $ 12,396,000 |
New and Revised Accounting St_2
New and Revised Accounting Standards (Details Textual) - Jan. 01, 2019 $ in Thousands | CAD ($) | USD ($) |
New and Revised Accounting Standards [Line Items] | ||
Lease liabilities | $ 1,000,000 | |
Right-of-use assets | $ 1,000,000 |
Impacts of Change in Accounti_3
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Adjustments to equity [Abstract] | |||
Deferred income tax liabilities | $ 3,098 | $ 614 | $ 0 |
Equity after accounting changes | $ 116,630 | 112,456 | 102,285 |
IFRS 6 [Member] | |||
Equity before accounting changes | 100,060 | 90,673 | |
Adjustments to equity [Abstract] | |||
Property plant and equipment | 2,117 | 2,283 | |
Mineral properties | (10,229) | (10,229) | |
Deferred income tax liabilities | 2,390 | 1,440 | |
Silver streaming interest | 18,118 | 18,118 | |
Equity after accounting changes | $ 112,456 | $ 102,285 |
Impacts of Change in Accounti_4
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements (Details 1) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loss before accounting changes | $ (7,648) | $ (4,359) | |
Adjustments to loss relating to: | |||
Depreciation and amortization | (165) | (165) | |
Loss after accounting changes | $ (8,501) | $ (7,813) | $ (4,524) |
Loss per share before accounting changes: | |||
Basic and diluted | $ (0.08) | $ (0.09) | $ (0.05) |
Loss per share after accounting changes: | |||
Basic and diluted | $ (0.08) | $ (0.09) | $ (0.05) |
Impacts of Change in Accounti_5
Impacts of Change in Accounting Policy and Adoption of New IFRS Pronouncements (Details Textual) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Adjustments Of Initial Deposits Agains Mineral Interest | $ 50,000,000 |
Acquisition of Contango Strat_3
Acquisition of Contango Strategies Ltd. (Details) $ in Thousands | Jun. 15, 2018CAD ($) |
Disclosure of detailed information about business combination [abstract] | |
Amount settled in cash | $ 602 |
Fair value of common shares issued | 416 |
Fair value of cash to be settled in one year | 370 |
Total fair value of consideration | 1,388 |
Cash and cash equivalents | 66 |
Accounts and other receivables | 618 |
Inventory | 102 |
Prepaid Expenses | 54 |
Property, plant and equipment | 333 |
Accounts payable and accrued liabilities | (335) |
Net identifiable assets acquired and liabilities assumed | 838 |
Goodwill on acquisition | 550 |
Net cash outflow on acquisition | 536 |
Acquisition costs charged to expenses | $ 28 |
Acquisition of Contango Strat_4
Acquisition of Contango Strategies Ltd. (Details 1) - CAD ($) $ in Thousands | 5 Months Ended | 12 Months Ended | ||
Jun. 14, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about business combination [abstract] | ||||
Revenue of acquiree since acquisition date | $ 1,162 | $ 1,400 | ||
Cost of Sales And Other Expenses Of Acquiree | 1,026 | |||
Profit (loss) of acquiree since acquisition date | $ 136 | |||
Revenue of combined entity as if combination occurred at beginning of period | 21,042 | |||
Cost Of Sales And Other Expenses combined entity | 28,381 | |||
Profit (loss) of combined entity as if combination occurred at beginning of period | (8,365) | |||
Profit (loss) | (8,501) | $ (7,813) | $ (4,524) | |
Cost Of Sales And Other Expenses combined entity | 29,407 | |||
Revenue from rendering of services | $ 19,880 | $ 10,732 |
Acquisition of Contango Strat_5
Acquisition of Contango Strategies Ltd. (Details Textual) | Jun. 15, 2018CAD ($)Number$ / shares | Jun. 14, 2018CAD ($) | Dec. 31, 2018CAD ($) |
Percentage of voting equity interests acquired | 100.00% | ||
Consideration transferred, acquisition-date fair value | $ 1,388,000 | ||
Cash transferred | 602,000 | ||
Equity interests of acquirer | $ 416,000 | ||
Share Issue Price | $ / shares | $ 1.75 | ||
Business Acquisition Fair Value Of Cash Payable | $ 370,000 | ||
Identifiable assets acquired (liabilities assumed) | 838,000 | ||
Acquisition-related costs recognised as expense for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | 28,000 | ||
Goodwill recognised as of acquisition date | 550,000 | ||
Revenue of acquiree since acquisition date | $ 1,162,000 | $ 1,400,000 | |
Tranche One [Member] | |||
Cash transferred | $ 971,600 | ||
Number of instruments or interests issued or issuable | Number | 237,999 | ||
Equity interests of acquirer | $ 416,400 | ||
Tranche Two [Member] | |||
Consideration transferred, acquisition-date fair value | 1,018,000 | ||
Cash transferred | 601,600 | ||
Equity interests of acquirer | $ 416,400 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and Cash Equivalents [Abstract] | |||
Cash at bank and on hand | $ 3,629 | $ 6,019 | |
Short-term bank deposits | 4,947 | 11,887 | |
Cash and cash equivalents | $ 8,576 | $ 17,906 | $ 20,382 |
Accounts and Other Receivable_2
Accounts and Other Receivables (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts and Other Receivables [Abstract] | ||||
Trade receivables | [1] | $ 6,689 | $ 1,988 | |
Interest and other | 122 | 98 | ||
Trade and other current receivables | $ 6,811 | $ 2,086 | $ 2,938 | |
[1] | Trade receivables are derived primarily from the environmental consulting business (AEG). |
Restricted Cash and Deposits (D
Restricted Cash and Deposits (Details) | Dec. 31, 2018CAD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018CAD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) |
Restricted Cash and Deposits [Abstract] | |||||
Security for decommissioning obligations | $ 2,569,000 | $ 6,305,000 | $ 6,507,000 | ||
Security for remediation services agreement | 0 | $ 398,000 | 499,000 | ||
Other | 156,000 | 86,000 | |||
Restricted cash and deposits | 2,725,000 | 7,092,000 | |||
Less: Current portion | 0 | 499,000 | $ 0 | ||
Non-current restricted cash and cash equivalents | $ 2,725,000 | $ 6,593,000 | $ 6,948,000 |
Restricted Cash and Deposits _2
Restricted Cash and Deposits (Details Textual) | Dec. 31, 2018CAD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018CAD ($) | Dec. 31, 2017CAD ($) |
Disclosure of restricted cash and deposits [Line Items] | ||||
Security for remediation services agreement | $ 0 | $ 398,000 | $ 499,000 | |
Security for decommissioning obligations | $ 2,569,000 | $ 6,305,000 | $ 6,507,000 | |
Surety Bond Collateralized | 2,364,191 | |||
Unrestricted Cash and Cash Equivalents | $ 3,940,809 |
Investments (Details)
Investments (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Investments [Line Items] | |||
Investments other than investments accounted for using equity method | $ 760 | $ 1,755 | |
Current investments | 351 | 728 | $ 1,691 |
Non-current investments other than investments accounted for using equity method | 409 | 1,027 | $ 0 |
Common shares held [member] | |||
Disclosure of Investments [Line Items] | |||
Investments other than investments accounted for using equity method | 736 | 673 | |
Warrants held [member] | |||
Disclosure of Investments [Line Items] | |||
Investments other than investments accounted for using equity method | $ 24 | $ 1,082 |
Investments (Details Textual)
Investments (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Jun. 13, 2018 | |
Disclosure of Investments [Line Items] | |||
Number of shares issued | 4,703,000 | ||
Losses on disposals of investments | $ 572,000 | $ 1,341,000 | |
Gains (losses) recognised in profit or loss, fair value measurement, assets | $ 798,000 | $ 253,000 | |
Golden Predator Mining Corp [Member] | |||
Disclosure of Investments [Line Items] | |||
Number of shares issued | 1,320,500 | 300,000 | |
Banyan Gold corp [Member] | |||
Disclosure of Investments [Line Items] | |||
Number of shares issued | 8,736,644 | 4,775,000 | |
Warrants [Member] | Golden Predator Mining Corp [Member] | |||
Disclosure of Investments [Line Items] | |||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 1 | ||
Number of shares issued | 300,000 | 1,425,000 | |
Warrants [Member] | Banyan Gold corp [Member] | |||
Disclosure of Investments [Line Items] | |||
Number of shares issued | 6,155,822 | 4,375,000 | |
Warrants [Member] | Banyan Gold 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 | $ 0.115 | ||
Warrants [Member] | Banyan Gold 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 | $ 0.15 |
Inventories (Details)
Inventories (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Classes of current inventories [abstract] | |||
Ore in stockpiles and mill supplies | $ 4,699 | $ 4,743 | |
Materials and supplies | 818 | 646 | |
Inventory | 5,517 | 5,389 | |
Less: current portion | 818 | 646 | $ 151 |
Non-current inventories | $ 4,699 | $ 4,743 | $ 5,110 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | $ 16,256,000 | $ 16,250,000 | |
Depreciation, property, plant and equipment | 2,339,000 | 1,993,000 | |
Property, plant and equipment, Ending Balance | 15,233,000 | 16,256,000 | $ 16,250,000 |
Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 39,611,000 | ||
Additions other than through business combinations, property, plant and equipment | 1,231,000 | ||
Increase (decrease) through other changes, property, plant and equipment | 85,000 | ||
Property, plant and equipment, Ending Balance | 40,927,000 | 39,611,000 | |
Accumulated Depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 23,355,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 2,339,000 | ||
Property, plant and equipment, Ending Balance | 25,694,000 | 23,355,000 | |
Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 16,256,000 | ||
Property, plant and equipment, Ending Balance | 15,233,000 | 16,256,000 | |
Land and Buildings [Member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 1,709,000 | ||
Additions other than through business combinations, property, plant and equipment | 0 | ||
Increase (decrease) through other changes, property, plant and equipment | 0 | ||
Property, plant and equipment, Ending Balance | 1,709,000 | 1,709,000 | |
Land and Buildings [Member] | Accumulated Depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 351,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 78,000 | ||
Property, plant and equipment, Ending Balance | 429,000 | 351,000 | |
Land and Buildings [Member] | Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 1,358,000 | ||
Property, plant and equipment, Ending Balance | 1,280,000 | 1,358,000 | |
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 | 5,343,000 | ||
Additions other than through business combinations, property, plant and equipment | 226,000 | ||
Increase (decrease) through other changes, property, plant and equipment | 0 | ||
Property, plant and equipment, Ending Balance | 5,569,000 | 5,343,000 | |
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 | 4,692,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 177,000 | ||
Property, plant and equipment, Ending Balance | 4,869,000 | 4,692,000 | |
Camp, Roads, and Other Site [Member] | Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 651,000 | ||
Property, plant and equipment, Ending Balance | 700,000 | 651,000 | |
Ore-Processing Mill [Member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 22,749,000 | ||
Additions other than through business combinations, property, plant and equipment | 0 | ||
Increase (decrease) through other changes, property, plant and equipment | 85,000 | ||
Property, plant and equipment, Ending Balance | 22,834,000 | 22,749,000 | |
Ore-Processing Mill [Member] | Accumulated Depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 10,270,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 1,178,000 | ||
Property, plant and equipment, Ending Balance | 11,448,000 | 10,270,000 | |
Ore-Processing Mill [Member] | Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 12,479,000 | ||
Property, plant and equipment, Ending Balance | 11,386,000 | 12,479,000 | |
Heavy machinery and equipment [Member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 8,475,000 | ||
Additions other than through business combinations, property, plant and equipment | 837,000 | ||
Increase (decrease) through other changes, property, plant and equipment | 0 | ||
Property, plant and equipment, Ending Balance | 9,312,000 | 8,475,000 | |
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 | 6,767,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 766,000 | ||
Property, plant and equipment, Ending Balance | 7,533,000 | 6,767,000 | |
Heavy machinery and equipment [Member] | Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 1,708,000 | ||
Property, plant and equipment, Ending Balance | 1,779,000 | 1,708,000 | |
Leasehold Improvements & Other [Member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 1,503,000 | 1,335,000 | |
Additions other than through business combinations, property, plant and equipment | 168,000 | ||
Increase (decrease) through other changes, property, plant and equipment | 0 | ||
Property, plant and equipment, Ending Balance | 1,503,000 | ||
Leasehold Improvements & Other [Member] | Accumulated Depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | 1,275,000 | ||
Disposals, property, plant and equipment | 0 | ||
Depreciation, property, plant and equipment | 140,000 | ||
Property, plant and equipment, Ending Balance | 1,415,000 | 1,275,000 | |
Leasehold Improvements & Other [Member] | Net book value [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment, Beginning Balance | $ 60,000 | ||
Property, plant and equipment, Ending Balance | $ 88,000 | $ 60,000 |
Property, Plant and Equipment_3
Property, Plant and Equipment (Details Textual) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation, property, plant and equipment | $ 2,339,000 | $ 1,993,000 |
Depreciation expense | 1,964,000 | 1,728,000 |
Mining property [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation, property, plant and equipment | 375,000 | 265,000 |
Cost of Sales [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation expense | 85,000 | 142,000 |
General Expenses And Site Maintenance [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation expense | $ 1,879,000 | $ 1,586,000 |
Mineral Properties (Details)
Mineral Properties (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | $ 64,587 | $ 55,620 | |
Mineral Properties, Expenditures Incurred | 17,639 | 8,967 | |
Mineral Properties, Ending Balance | 82,226 | 64,587 | |
Bellekeno [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 6,885 | 6,809 | |
Mineral Properties, Expenditures Incurred | 238 | 76 | |
Mineral Properties, Ending Balance | 7,123 | 6,885 | |
Lucky Queen [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 693 | 563 | |
Mineral Properties, Expenditures Incurred | 131 | 130 | |
Mineral Properties, Ending Balance | 824 | 693 | |
Onek [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 1,034 | 1,018 | |
Mineral Properties, Expenditures Incurred | 31 | 16 | |
Mineral Properties, Ending Balance | 1,065 | 1,034 | |
McQuesten [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | [1] | 1,997 | 1,924 |
Mineral Properties, Expenditures Incurred | [1] | 0 | 73 |
Mineral Properties, Ending Balance | [1] | 1,997 | 1,997 |
Silver King [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 4,464 | 4,464 | |
Mineral Properties, Expenditures Incurred | 0 | 0 | |
Mineral Properties, Ending Balance | 4,464 | 4,464 | |
Flame And Moth [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 22,455 | 21,966 | |
Mineral Properties, Expenditures Incurred | 5,856 | 489 | |
Mineral Properties, Ending Balance | 28,311 | 22,455 | |
Bermingham [Member] | Mining property [member] | |||
Disclosure of mineral properties [Line Items] | |||
Mineral Properties, Beginning Balance | 23,376 | 15,193 | |
Mineral Properties, Expenditures Incurred | 8,708 | 8,183 | |
Mineral Properties, Ending Balance | 32,084 | 23,376 | |
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 | 2,799 | 2,799 | |
Mineral Properties, Expenditures Incurred | 2,675 | 0 | |
Mineral Properties, Ending Balance | $ 5,474 | $ 2,799 | |
[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 $2,600,000 in exploration expenditures ($717,000 incurred to December 31, 2018), issue 1,600,000 shares (800,000 shares received to December 31, 2018), pay a total of $2,600,000 in cash or shares and grant Alexco a 6% net smelter return (“NSR”) royalty with buybacks totalling $7,000,000 to reduce to a 1% NSR royalty on gold and 3% NSR royalty on silver. |
Mineral Properties (Details 1)
Mineral Properties (Details 1) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | $ (90,459) | ||
Assets arising from exploration for and evaluation of mineral resources | $ 82,226 | 64,587 | $ 55,620 |
Gross carrying amount [member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 172,685 | 155,046 | |
Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | (90,459) | ||
Exploration and Evaluation Properties [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 73,213 | 55,975 | |
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 | 73,213 | 55,975 | |
Exploration and Evaluation Properties [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | 0 | 0 | |
Mining Operations Properties [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 9,013 | 8,612 | |
Mining Operations Properties [Member] | Gross carrying amount [member] | |||
Disclosure of mineral properties [Line Items] | |||
Assets arising from exploration for and evaluation of mineral resources | 99,472 | 99,071 | |
Mining Operations Properties [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of mineral properties [Line Items] | |||
Accumulated depletion and write-downs | $ (90,459) | $ (90,459) |
Mineral Properties (Details Tex
Mineral Properties (Details Textual) - CAD ($) | 1 Months Ended | 12 Months Ended | |
May 24, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of mineral properties [Line Items] | |||
Percentage Of Mineral Property Ownership Acquisition | 100.00% | ||
Percentage of ownership interest in property offerred | 100.00% | ||
Expense arising from exploration for and evaluation of mineral resources | $ 17,639,000 | $ 8,967,000 | |
McQuesten [Member] | Banyan Gold corp [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Smelter Return Royalty Percentage | 6.00% | ||
Expense arising from exploration for and evaluation of mineral resources | $ 717,000,000 | ||
Consideration receivable in the form of shares | 1,600,000 | 800,000 | |
Total consideration receivable in cash or shares | $ 2,600,000,000 | ||
Value of treasury stock investment | $ 7,000,000,000 | ||
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% | ||
Top of range [member] | Other Keno Hill Properties [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Royalty Expense | $ 4,000,000 | ||
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 | $ 2,600,000,000 | ||
UKHM mineral rights [Member] | |||
Disclosure of mineral properties [Line Items] | |||
Smelter Return Royalty Percentage | 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 | ||
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% | ||
Non-UKHM mineral rights [Member] | Top of range [member] | |||
Disclosure of mineral properties [Line Items] | |||
Smelter Return Royalty Percentage | 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% | ||
Non-UKHM mineral rights [Member] | Bottom of range [member] | |||
Disclosure of mineral properties [Line Items] | |||
Smelter Return Royalty Percentage | 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% |
Embedded Derivative Asset and_3
Embedded Derivative Asset and Silver Stream (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Derivative Financial Instrument [Abstract] | ||
Embedded derivative asset – Beginning of year | $ 6,600 | $ 0 |
Embedded derivative asset - Addition | 0 | 6,600 |
Fair value adjustment | 3,071 | 0 |
Embedded derivative asset – End of year | $ 9,671 | $ 6,600 |
Embedded Derivative Asset and_4
Embedded Derivative Asset and Silver Stream (Details Textual) | 1 Months Ended | 12 Months Ended | |||
Mar. 29, 2017CAD ($)shares | Mar. 29, 2017USD ($)t$ / Ounce-ozshares | Oct. 02, 2008USD ($) | Dec. 31, 2018$ / Ounce-ozshares | Dec. 31, 2017CAD ($) | |
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 | ||||
Number Of Shares Issued as a consideration to wheaton | shares | 3,000,000 | 3,000,000 | 10,000 | ||
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 | ||||
Percentage Of Interest Representing Future Production | 25.00% | ||||
Production payment per ounce | $ / Ounce-oz | 3.90 | ||||
Repayment Of Original Deposit | $ 50,000,000 | ||||
Events Occurred After Reporting Period [Member] | |||||
Mine and mill Completion per day | t | 400 | ||||
Reduction of mill throughput per day | t | 322 | ||||
Obligation to pay capacity related refund | $ 8,788,000 | ||||
Bottom of range [member] | Events Occurred After Reporting Period [Member] | |||||
Actual monthly production payment,upper ceiling grade | 600 g/t | 600 g/t | |||
Price of silver | $ / Ounce-oz | 13 | ||||
Top of range [member] | Events Occurred After Reporting Period [Member] | |||||
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 |
Accounts payable and accrued _3
Accounts payable and accrued liabilities (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts Payables And Accrued Liabilities [Abstract] | |||
Trade payables | $ 3,567 | $ 1,468 | |
Accrued liabilities and other | 3,643 | 2,133 | |
Trade and other current payables | $ 7,210 | $ 3,601 | $ 1,832 |
Credit Facility (Details Textua
Credit Facility (Details Textual) - USD ($) | 1 Months Ended | ||
Feb. 23, 2018 | Feb. 14, 2019 | Jun. 13, 2018 | |
Number of shares issued | 4,703,000 | ||
Borrowings, maturity | 5 | ||
Borrowings, interest rate | 8.00% | ||
Description of maximum term of options granted for share-based payment arrangement | Sprott with a five-year term | ||
Warrant Exercise Price Per Share | $ 2.25 | ||
Warrant Closing Price Per Share | $ 5.63 | ||
Warrants [Member] | |||
Number of shares issued | 1,000,000 | ||
Loans to corporate entities [member] | |||
Notional amount | $ 15,000,000 | ||
Later than one year [member] | |||
Borrowings maturity term | 3 years | ||
Borrowings Maturity Date | Feb. 23, 2021 | ||
Subsequent Events [Member] | |||
Number of shares issued | 171,480 | ||
Rate of charge on funds drawn | 3.00% | ||
Subsequent Events [Member] | Floating interest rate [member] | |||
Libor rate | 7.00% |
Decommissioning and Rehabilit_3
Decommissioning and Rehabilitation Provision (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Provision for decommissioning, restoration and rehabilitation costs [abstract] | ||
Balance - beginning of year | $ 5,055 | $ 4,955 |
Increase due to re-estimation | 163 | 37 |
Accretion expense, included in finance costs | 68 | 63 |
Balance - end of year | $ 5,286 | $ 5,055 |
Decommissioning and Rehabilit_4
Decommissioning and Rehabilitation Provision (Details Textual) - CAD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2016 | |
Disclosure of decommissioning and rehabilitation provision [Line Items] | ||||
Discount rate used in current estimate of value in use | 2.08% | 2.11% | ||
Actuarial assumption of expected rates of inflation | 2.00% | 2.00% | ||
Non-current provision for decommissioning, restoration and rehabilitation costs | $ 6,561,000 | $ 6,187,000 | ||
Expenditures to be incurred over certain years | 20 years | |||
Provision for decommissioning, restoration and rehabilitation costs | $ 5,286,000 | $ 5,055,000 | $ 4,955,000 | $ 4,955,000 |
Capital and Reserves (Details)
Capital and Reserves (Details) | 12 Months Ended |
Dec. 31, 2018CAD ($)$ / Ounce-oz | |
Capital and reserves [Line Items] | |
Exercised | $ / Ounce-oz | 386,655 |
Warrants [Member] | |
Capital and reserves [Line Items] | |
Balance at December 31, 2017 | 5,055,694 |
Issued | 1,000,000 |
Exercised | (1,167,351) |
Expired | (3,762,169) |
Balance at December 31, 2018 | 1,126,174 |
Warrants [Member] | Expiry Date, May 17, 2018 | |
Capital and reserves [Line Items] | |
Exercise Price | $ 1.75 |
Balance at December 31, 2017 | 4,868,620 |
Issued | 0 |
Exercised | (1,106,451) |
Expired | (3,762,169) |
Balance at December 31, 2018 | 0 |
Warrants [Member] | Expiry Date, May 17, 2018 | |
Capital and reserves [Line Items] | |
Exercise Price | $ 1.49 |
Balance at December 31, 2017 | 60,900 |
Issued | 0 |
Exercised | (60,900) |
Expired | 0 |
Balance at December 31, 2018 | 0 |
Warrants [Member] | Expiry Date, May 30, 2019 | |
Capital and reserves [Line Items] | |
Exercise Price | $ 2.15 |
Balance at December 31, 2017 | 126,174 |
Issued | 0 |
Exercised | 0 |
Expired | 0 |
Balance at December 31, 2018 | 126,174 |
Warrants [Member] | Expiry Date, Feb 23, 2023 | |
Capital and reserves [Line Items] | |
Exercise Price | $ 2.25 |
Balance at December 31, 2017 | 0 |
Issued | 1,000,000 |
Exercised | 0 |
Expired | 0 |
Balance at December 31, 2018 | 1,000,000 |
Capital and Reserves (Details 1
Capital and Reserves (Details 1) | 12 Months Ended | ||||
Dec. 31, 2018CAD ($) | Dec. 31, 2018 | Dec. 31, 2018$ / Ounce-oz | Dec. 31, 2017CAD ($) | Dec. 31, 2017CAD ($) | |
Capital and reserves [Line Items] | |||||
Weighted average exercise price - options forfeited or expired | $ 0 | $ 0 | |||
Weighted average exercise price - Balance Ending | 1.66 | ||||
Number of shares issued or issuable on exercise - Options exercised (in shares) | 281,666 | ||||
Number of shares issued or issuable on exercise - Balance End (in shares) | 7,738,833,000 | ||||
Balance - Share based compensation expense | 2,480,000 | 2,204,000 | |||
Incentive Stock Options [Member] | |||||
Capital and reserves [Line Items] | |||||
Weighted average exercise price - Balance Opening | 2.06 | $ 2.48 | |||
Weighted average exercise price - stock options granted | 2.07 | 2.31 | |||
Weighted average exercise price - options exercised | 0.77 | 1.28 | |||
Weighted average exercise price - options forfeited or expired | 5.39 | 4.78 | |||
Weighted average exercise price - Balance Ending | $ 2.06 | $ 2.06 | |||
Number of shares issued or issuable on exercise - Balance Opening (in shares) | 6,546,666 | 6,175,995 | |||
Number of shares issued or issuable on exercise - Stock options granted (in shares) | 2,524,000 | 1,645,500 | |||
Number of shares issued or issuable on exercise - Options exercised (in shares) | (281,666) | (126,332) | |||
Number of shares issued or issuable on exercise - Options forfeited or expired (in shares) | (1,050,167) | (1,148,497) | |||
Number of shares issued or issuable on exercise - Balance End (in shares) | 7,738,833 | 7,738,833 | 6,546,666 | 6,546,666 | |
Opening Balance | 6,258,000 | $ 6,996,000 | |||
Balance - Stock options granted | 0 | 0 | |||
Balance - Share based compensation expense | 2,480,000 | $ 2,204,000 | |||
Balance - Options exercised | (106,000) | (78,000) | |||
Balance - Options forfeited or expired | (3,163,000) | (2,864,000) | |||
Ending Balance | $ 5,469,000 | $ 6,258,000 | $ 6,258,000 |
Capital and Reserves (Details 2
Capital and Reserves (Details 2) | Dec. 31, 2018CAD ($) |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 7,738,833,000 |
Options Outstanding, Average Remaining Life (Years) | 2.73 |
Options Outstanding, Average Exercise Price | $ 1.66 |
Options Exercisable, Number of Shares Issuable on Exercise | 6,204,833,000 |
Options Exercisable, Average Exercise Price | $ 1.55 |
Exercise Price - 0.60 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 35,000,000 |
Options Outstanding, Average Remaining Life (Years) | 0.96 |
Options Outstanding, Average Exercise Price | $ 0.60 |
Options Exercisable, Number of Shares Issuable on Exercise | 35,000,000 |
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 | 989,333,000 |
Options Outstanding, Average Remaining Life (Years) | 1.12 |
Options Outstanding, Average Exercise Price | $ 0.60 |
Options Exercisable, Number of Shares Issuable on Exercise | 989,333,000 |
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 | 1,422,500,000 |
Options Outstanding, Average Remaining Life (Years) | 2.12 |
Options Outstanding, Average Exercise Price | $ 0.84 |
Options Exercisable, Number of Shares Issuable on Exercise | 1,422,500,000 |
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 | 600,000,000 |
Options Outstanding, Average Remaining Life (Years) | 2.44 |
Options Outstanding, Average Exercise Price | $ 1.73 |
Options Exercisable, Number of Shares Issuable on Exercise | 600,000,000 |
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 | 42,000,000 |
Options Outstanding, Average Remaining Life (Years) | 3.63 |
Options Outstanding, Average Exercise Price | $ 1.75 |
Options Exercisable, Number of Shares Issuable on Exercise | 42,000,000 |
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 | 150,000,000 |
Options Outstanding, Average Remaining Life (Years) | 2.49 |
Options Outstanding, Average Exercise Price | $ 1.78 |
Options Exercisable, Number of Shares Issuable on Exercise | 150,000,000 |
Options Exercisable, Average Exercise Price | $ 1.78 |
Exercise Price - 1.93 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 60,000,000 |
Options Outstanding, Average Remaining Life (Years) | 4.36 |
Options Outstanding, Average Exercise Price | $ 1.93 |
Options Exercisable, Number of Shares Issuable on Exercise | 30,000,000 |
Options Exercisable, Average Exercise Price | $ 1.93 |
Exercise Price - 1.94 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 475,000,000 |
Options Outstanding, Average Remaining Life (Years) | 0.12 |
Options Outstanding, Average Exercise Price | $ 1.94 |
Options Exercisable, Number of Shares Issuable on Exercise | 475,000,000 |
Options Exercisable, Average Exercise Price | $ 1.94 |
Exercise Price - 2.07 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 1,834,000,000 |
Options Outstanding, Average Remaining Life (Years) | 4.08 |
Options Outstanding, Average Exercise Price | $ 2.07 |
Options Exercisable, Number of Shares Issuable on Exercise | 917,000,000 |
Options Exercisable, Average Exercise Price | $ 2.07 |
Exercise Price - 2.07 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 587,000,000 |
Options Outstanding, Average Remaining Life (Years) | 4.08 |
Options Outstanding, Average Exercise Price | $ 2.07 |
Options Exercisable, Number of Shares Issuable on Exercise | 0 |
Options Exercisable, Average Exercise Price | $ 2.07 |
Exercise Price - 2.32 [Member] | |
Capital and reserves [Line Items] | |
Options Outstanding, Number of Shares Issuable on Exercise | 1,544,000,000 |
Options Outstanding, Average Remaining Life (Years) | 3.09 |
Options Outstanding, Average Exercise Price | $ 2.32 |
Options Exercisable, Number of Shares Issuable on Exercise | 1,544,000,000 |
Options Exercisable, Average Exercise Price | $ 2.32 |
Capital and Reserves (Details 3
Capital and Reserves (Details 3) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018CAD ($) | Dec. 31, 2018Number | Dec. 31, 2018$ / Ounce-oz | Dec. 31, 2017CAD ($)Number | Dec. 31, 2017CAD ($)Number | |
Capital and reserves [Line Items] | |||||
RSUs vested | $ / Ounce-oz | 386,655 | ||||
Share-based compensation expense recognized | $ 2,480 | $ 2,204 | |||
Restricted Share Units [Member] | |||||
Capital and reserves [Line Items] | |||||
Balance at December 31, 2017 | Number | 273,989 | 452,950 | |||
RSUs granted | 193,700 | 625,000 | 235,000 | ||
RSUs vested | Number | (318,036) | (289,625) | |||
Balance at December 31, 2018 | Number | 398,325 | 273,989 | 273,989 | ||
Opening Balance | 371 | $ 220 | |||
RSUs granted | 0 | 0 | |||
Share-based compensation expense recognized | 467 | $ 524 | |||
RSUs vested | (497) | (343) | |||
Ending Balance | $ 401 | $ 371 | $ 371 |
Capital and Reserves (Details T
Capital and Reserves (Details Textual) | Jun. 13, 2018CAD ($) | Feb. 23, 2018$ / Ounce-ozshares | Mar. 29, 2017shares | Dec. 31, 2018CAD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2018CAD ($)shares | Dec. 31, 2018CAD ($)Number | Dec. 31, 2018CAD ($)$ / Ounce-oz | Dec. 31, 2017CAD ($)Number | Dec. 31, 2017CAD ($)Number | Dec. 31, 2018 | Dec. 31, 2018shares | Dec. 31, 2018Number | Dec. 31, 2018$ / Ounce-oz | Dec. 31, 2018$ / shares | Sep. 21, 2018CAD ($) | Jun. 13, 2018$ / sharesshares | Jan. 01, 2017Number |
Capital and reserves [Line Items] | |||||||||||||||||||
Number of shares issued | shares | 4,703,000 | ||||||||||||||||||
Proceeds from issuing shares | $ 9,042,000 | $ 9,043,000 | |||||||||||||||||
Par value per share | $ / shares | $ 1.92 | ||||||||||||||||||
Share issue related cost | $ 989,000 | ||||||||||||||||||
Number of share options exercised in share-based payment arrangement | 281,666 | ||||||||||||||||||
Proceeds from exercise of options | 218,000 | 162,000 | |||||||||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | $ / Ounce-oz | 386,655 | ||||||||||||||||||
Proceeds from exercise of warrants | 2,027,000 | ||||||||||||||||||
Value of shares and warrants authorised | $ 50,000,000 | ||||||||||||||||||
Risk free interest rate, share options granted | 1.02% | ||||||||||||||||||
Expected volatility, share options granted | 73.00% | 73.00% | |||||||||||||||||
Number of share options outstanding in share-based payment arrangement | 7,738,833,000 | ||||||||||||||||||
Number of options available for future grants | shares | 2,787,068 | ||||||||||||||||||
Description of vesting requirements for share-based payment arrangement | vesting 25% upon granting and 25% each six months thereafter | ||||||||||||||||||
Option life, share options granted (Years) | Number | 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 | 1.96 | $ 2.26 | |||||||||||||||||
Expense from share-based payment transactions with employees | 2,480,000 | $ 2,204,000 | |||||||||||||||||
Number Of Shares Issued as a consideration to wheaton | shares | 3,000,000 | 10,000 | |||||||||||||||||
Top of range [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Risk free interest rate, share options granted | 2.16% | ||||||||||||||||||
Bottom of range [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Risk free interest rate, share options granted | 2.01% | ||||||||||||||||||
Ordinary shares [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of shares issued for exercise of warrants | shares | 1,167,351 | ||||||||||||||||||
Number of shares issued for advisory fees | shares | 237,999 | ||||||||||||||||||
Incentive Stock Options [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of share options exercised in share-based payment arrangement | (281,666) | (126,332) | |||||||||||||||||
Number of share options outstanding in share-based payment arrangement | 6,546,666 | 6,546,666 | 7,738,833 | 7,738,833 | 6,175,995 | ||||||||||||||
Expense from share-based payment transactions with employees | 2,480,000 | $ 2,204,000 | |||||||||||||||||
Number of share options granted in share-based payment arrangement | 2,524,000 | 1,645,500 | |||||||||||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | 2.07 | $ 2.31 | |||||||||||||||||
Incentive Stock Options [Member] | Mining property [member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | 368,000 | 369,000 | |||||||||||||||||
Incentive Stock Options [Member] | Charged to Income [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | 2,112,000 | $ 1,835,000 | |||||||||||||||||
Incentive Stock Options [Member] | Events Occurred After Reporting Period [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 1.27 | ||||||||||||||||||
Number of share options exercised in share-based payment arrangement | shares | 70,000 | ||||||||||||||||||
Number of share options granted in share-based payment arrangement | shares | 2,029,000 | ||||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement | shares | 475,000 | ||||||||||||||||||
Restricted Share Units [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of share options exercised in share-based payment arrangement | 273,989 | ||||||||||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | Number | (318,036) | (289,625) | |||||||||||||||||
Number of shares issued for release of RSU settlement shares | shares | 318,036 | ||||||||||||||||||
Number of other equity instruments outstanding in share-based payment arrangement | Number | 273,989 | 273,989 | 398,325 | 452,950 | |||||||||||||||
Expense from share-based payment transactions with employees | 467,000 | $ 524,000 | |||||||||||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | 1.72 | $ 2.31 | |||||||||||||||||
Number of other equity instruments granted in share-based payment arrangement | 193,700 | 625,000 | 235,000 | ||||||||||||||||
Weighted average fair value at measurement date, other equity instruments granted | $ 399,000 | 399,000 | $ 399,000 | $ 399,000 | $ 399,000 | $ 399,000 | $ 545,000 | 545,000 | |||||||||||
Restricted Share Units [Member] | General and administrative expenses [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Expense from share-based payment transactions with employees | $ 467,000 | $ 524,000 | |||||||||||||||||
Warrant [Member] | Sprott Private Resource Lending [Member] | |||||||||||||||||||
Capital and reserves [Line Items] | |||||||||||||||||||
Number of shares issued | shares | 1,000,000 | ||||||||||||||||||
Risk free interest rate, share options granted | 1.94% | ||||||||||||||||||
Expected volatility, share options granted | 73.00% | ||||||||||||||||||
Option life, share options granted (Years) | $ / Ounce-oz | 5 |
Revenue from Environmental Se_3
Revenue from Environmental Services (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 | |
Revenue from rendering of services | $ 19,880 | $ 10,732 | |
Environmental Services [Member] | |||
Fee for service | 15,007 | $ 9,882 | |
Fixed price agreements | $ 850 | ||
Environmental Services [Member] | Fixed-price contracts [member] | |||
Fixed price agreements | $ 4,873 |
General and Administrative Ex_3
General and Administrative Expenses by Nature of Expense (Details) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Genral And Administrative Expenses [Line Items] | ||
Depreciation | $ 1,964,000 | $ 1,728,000 |
Office, operating and non-operating overheads | 14,773,000 | 12,830,000 |
Restructuring costs | 1,353,000 | |
Share-based compensation | 2,480,000 | 2,204,000 |
Total General and Administrative Expenses | 12,170,000 | 10,942,000 |
Corporate Level [Member] | ||
Genral And Administrative Expenses [Line Items] | ||
Depreciation | 94,000 | 89,000 |
Amortization of intangible assets | 11,000 | 13,000 |
Business development and investor relations | 451,000 | 567,000 |
Office, operating and non-operating overheads | 788,000 | 682,000 |
Professional | 832,000 | 433,000 |
Regulatory | 184,000 | 309,000 |
Restructuring costs | 92,000 | 1,353,000 |
Salaries and contractors | 2,262,000 | 2,112,000 |
Share-based compensation | 2,544,000 | 2,305,000 |
Travel | 240,000 | 301,000 |
Expenses, by nature | 7,498,000 | 8,164,000 |
Environmental Services [Member] | ||
Genral And Administrative Expenses [Line Items] | ||
Depreciation | 126,000 | 19,000 |
Amortization of intangible assets | 39,000 | 59,000 |
Business development and investor relations | 370,000 | 164,000 |
Office, operating and non-operating overheads | 1,262,000 | 756,000 |
Professional | 142,000 | 29,000 |
Salaries and contractors | 2,556,000 | 1,657,000 |
Travel | 177,000 | 94,000 |
Expenses, by nature | 4,672,000 | 2,778,000 |
Total General and Administrative Expenses | $ 12,170,000 | $ 10,942,000 |
Mine Site Care and Maintenanc_2
Mine Site Care and Maintenance (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Schedule of mine site care and maintenance expenses [Line Items] | |||
Repairs and maintenance expense | $ 2,603 | $ 1,888 | |
Depreciation [Member] | |||
Schedule of mine site care and maintenance expenses [Line Items] | |||
Repairs and maintenance expense | 1,292 | 1,531 | |
Salaries And Contractors [Member] | |||
Schedule of mine site care and maintenance expenses [Line Items] | |||
Repairs and maintenance expense | [1] | 913 | 357 |
Materials and Equipment [Member] | |||
Schedule of mine site care and maintenance expenses [Line Items] | |||
Repairs and maintenance expense | [1] | 346 | 0 |
Other expenses [Member] | |||
Schedule of mine site care and maintenance expenses [Line Items] | |||
Repairs and maintenance expense | [1] | $ 52 | $ 0 |
[1] | Included in mine site care and maintenance costs are refurbishment and mill maintenance costs. |
Other Income and expenses (Deta
Other Income and expenses (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Credit Facility fee – warrants | $ (930) | $ 0 |
Interest income | 241 | 188 |
Foreign exchange gain (loss) | (15) | 964 |
Other income (expenses) | (68) | (4) |
Other finance income (cost) | $ (772) | $ 1,148 |
Income Tax Expense (Details)
Income Tax Expense (Details) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of income tax [Abstract] | |||
Accounting loss before taxes | [1] | $ (6,994) | $ (6,341) |
Federal and provincial income tax rate of 27% (2017 – 26%) | (1,888) | (1,648) | |
Non-deductible permanent differences | 1,064 | 495 | |
Differences in foreign exchange rates | 0 | 0 | |
Effect of difference in tax rates | 2 | 2,488 | |
Change in deferred tax asset not recognized | 1,100 | (1,075) | |
Flow-through share renunciation | 1,656 | 1,040 | |
Change in estimate | (427) | (72) | |
Other | 0 | 244 | |
Income Tax Provision Recovery Adjustments | 1,507 | 1,472 | |
Income tax provision | $ 1,507 | $ 1,472 | |
[1] | Represents consolidated loss before taxes. |
Income Tax Expense (Details) _P
Income Tax Expense (Details) [Parenthetical] | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of income tax [Abstract] | ||
Applicable tax rate | 27.00% | 26.00% |
Income Tax Expense (Details 1)
Income Tax Expense (Details 1) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | $ (614) | |
Credited (charged) to the income statement | (2,504) | |
Charged to OCI | 20 | |
Deferred tax liabilities | (3,098) | $ (614) |
Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (7,824) | (6,529) |
Credited (charged) to the income statement | (8,554) | (1,295) |
Charged to OCI | 20 | 0 |
Deferred tax liabilities | (16,378) | (7,824) |
Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 7,209 | 7,478 |
Credited (charged) to the income statement | (6,075) | (906) |
Charged to OCI | 637 | |
Deferred tax assets | 13,284 | 7,209 |
Mineral Property Interest [Member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (2,873) | (1,483) |
Credited (charged) to the income statement | (5,046) | (1,390) |
Charged to OCI | 0 | |
Deferred tax liabilities | (7,919) | (2,873) |
Mineral Property Interest [Member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 839 | 770 |
Credited (charged) to the income statement | 3,632 | 69 |
Charged to OCI | 0 | |
Deferred tax assets | 4,471 | 839 |
Inventory [Member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (113) | (126) |
Credited (charged) to the income statement | 0 | 13 |
Charged to OCI | 0 | |
Deferred tax liabilities | (113) | (113) |
Loss Carryforward [Member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 4,268 | 4,281 |
Credited (charged) to the income statement | 2,997 | (13) |
Charged to OCI | 0 | |
Deferred tax assets | 7,265 | 4,268 |
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 | (1,464) | (1,505) |
Credited (charged) to the income statement | (598) | 41 |
Charged to OCI | 0 | |
Deferred tax liabilities | (2,062) | (1,464) |
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 | 77 | 143 |
Credited (charged) to the income statement | (5) | (66) |
Charged to OCI | 0 | |
Deferred tax assets | 72 | 77 |
Decommissioning and Rehabilitation Provision [member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 1,364 | 1,485 |
Credited (charged) to the income statement | 63 | (121) |
Charged to OCI | 0 | |
Deferred tax assets | 1,427 | 1,364 |
Other [member] | Deferred Tax Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax liabilities | (3,374) | (3,415) |
Credited (charged) to the income statement | (2,930) | 41 |
Charged to OCI | 20 | 0 |
Deferred tax liabilities | (6,284) | (3,374) |
Other [member] | Deferred Tax Assets [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 661 | 799 |
Credited (charged) to the income statement | (612) | (775) |
Charged to OCI | 637 | |
Deferred tax assets | $ 49 | $ 661 |
Income Tax Expense (Details 2)
Income Tax Expense (Details 2) $ in Thousands | Dec. 31, 2018CAD ($) |
Disclosure of income tax [Abstract] | |
Tax loss carry forwards | $ 40,650 |
Mineral property interest | 11,150 |
Other | 8,587 |
Unrecognised Tax Benefit | $ 60,387 |
Income Tax Expense (Details 3)
Income Tax Expense (Details 3) $ in Thousands | Dec. 31, 2018CAD ($) |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | $ 40,650 |
Canada [Member] | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 40,650 |
Canada [Member] | 2033 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 1,952 |
Canada [Member] | 2034 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 9,351 |
Canada [Member] | 2035 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,685 |
Canada [Member] | 2036 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 6,643 |
Canada [Member] | 2037 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | 8,302 |
Canada [Member] | 2038 | |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | |
Unused tax losses for which no deferred tax asset recognised | $ 7,717 |
Financial Instruments (Details)
Financial Instruments (Details) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of Financial Instrument [Abstract] | |||
Fair value through profit or loss Warrants held-for-trading | $ 24 | $ 1,082 | |
Embedded derivative asset | 9,671 | 6,600 | $ 0 |
Available-for-sale Investment in marketable securities | 736 | 673 | |
Financial assets | $ 10,431 | $ 8,355 |
Financial Instruments (Details
Financial Instruments (Details 1) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | $ 1,642 | $ 1,548 |
Accounts Payable and Accrued Liabilities [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | (649) | (298) |
Accounts and other receivable [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | 917 | 510 |
Cash and Cash Equivalents [Member] | ||
Disclosure of internal credit grades [line items] | ||
Cash and demand deposits | $ 1,374 | $ 1,336 |
Financial Instruments (Detail_2
Financial Instruments (Details 2) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | $ 17,990 | $ 26,986 |
Cash [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 3,629 | 6,019 |
Demand Deposits [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 4,947 | 11,887 |
Term Deposits [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 2,725 | 7,092 |
Trade receivables, net of provision [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 6,689 | 1,988 |
Trade receivables, net of provision [Member] | Currently due [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum exposure to credit risk | 5,228 | 1,035 |
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 | 1,375 | 940 |
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 | $ 86 | $ 13 |
Financial Instruments (Detail_3
Financial Instruments (Details 3) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | $ 7,210 | $ 3,601 |
Within 90 days or less [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | 7,210 | 3,601 |
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 (Detail_4
Financial Instruments (Details Textual) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ 164,000 | $ 158,000 |
Percentage of depreciation or appreciation of foreign exchange | 10.00% | |
Fair Value Of Embedded Derivative | $ 3,071,000 | $ 0 |
Option pricing model [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Interest rate, significant unobservable inputs, assets | 1.85% | 1.66% |
Historical volatility for shares, significant unobservable inputs, assets | 84.00% | |
Option pricing model [member] | Top of range [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Expected Life, Significant Unabservable Input Assets | 7 months 13 days | 2 years 11 months 23 days |
Historical volatility for shares, significant unobservable inputs, assets | 93.00% | |
Option pricing model [member] | Bottom of range [member] | ||
Disclosure of Financial Instruments [Line Items] | ||
Expected Life, Significant Unabservable Input Assets | 1 year 11 months 23 days | 2 months 1 day |
Historical volatility for shares, significant unobservable inputs, assets | 72.00% |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from (used in) operating activities [abstract] | ||
Interest received | $ 129 | $ 221 |
Non-Cash Investing and Financing Transactions | ||
Capitalization of share-based compensation to mineral properties | 368 | 369 |
Capitalization of depreciation to mineral properties | 375 | 265 |
Capitalization of re-estimation of decommissioning and rehabilitation provision | 163 | 37 |
Issuance of shares related to acquistion of subsidiary | 416 | 0 |
Increase in non-cash working capital related to: | ||
Mining operations properties | 6 | (23) |
Exploration and evaluation properties | $ 305 | $ (1,130) |
Segmented Information (Details)
Segmented Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | $ 19,880 | $ 10,732 | ||
Cost of sales | 13,828 | 6,732 | ||
Depreciation and amortization | 1,562 | 1,711 | ||
Share-based compensation | 2,580 | 2,359 | ||
Other G&A expenses | 10,294 | 7,104 | ||
Mine site care and maintenance | 2,603 | 1,888 | ||
Restructuring Costs | 1,353 | |||
Foreign exchange (gain) loss | 15 | (964) | ||
Gain (Loss) on investments | 572 | (1,341) | ||
Gain on derivative asset | (3,071) | |||
Other (income) loss | (181) | (184) | ||
Segment income (loss) before taxes | [1] | (6,994) | (6,341) | |
Total assets | 133,018 | 122,324 | $ 109,686 | |
Total liabilities | 16,388 | 9,868 | $ 7,401 | |
Environmental Services [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 19,880 | 10,732 | ||
Cost of sales | 13,828 | 6,732 | ||
Depreciation and amortization | 165 | 79 | ||
Share-based compensation | 0 | 0 | ||
Other G&A expenses | 4,507 | 2,700 | ||
Mine site care and maintenance | 0 | 0 | ||
Restructuring Costs | 0 | |||
Foreign exchange (gain) loss | 35 | (1,080) | ||
Gain (Loss) on investments | 0 | |||
Gain on derivative asset | 0 | |||
Other (income) loss | (8) | 250 | ||
Segment income (loss) before taxes | 1,353 | 2,051 | ||
Total assets | 11,462 | 6,198 | ||
Total liabilities | 4,116 | 1,642 | ||
Mining [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 0 | 0 | ||
Cost of sales | 0 | 0 | ||
Depreciation and amortization | 1,292 | 1,531 | ||
Share-based compensation | 0 | 0 | ||
Other G&A expenses | 86 | 0 | ||
Mine site care and maintenance | 1,311 | 357 | ||
Restructuring Costs | 0 | |||
Foreign exchange (gain) loss | 9 | (4) | ||
Gain (Loss) on investments | 113 | 0 | ||
Gain on derivative asset | (3,071) | |||
Other (income) loss | 68 | (247) | ||
Segment income (loss) before taxes | 192 | (1,637) | ||
Total assets | 113,341 | 98,303 | ||
Total liabilities | 10,284 | 6,762 | ||
Corporate And Other [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 0 | 0 | ||
Cost of sales | 0 | 0 | ||
Depreciation and amortization | 105 | 101 | ||
Share-based compensation | 2,544 | 2,305 | ||
Other G&A expenses | 5,701 | 4,404 | ||
Mine site care and maintenance | 0 | 0 | ||
Restructuring Costs | 1,353 | |||
Foreign exchange (gain) loss | (29) | 120 | ||
Gain (Loss) on investments | 459 | (1,341) | ||
Gain on derivative asset | 0 | |||
Other (income) loss | (241) | (187) | ||
Segment income (loss) before taxes | (8,539) | (6,755) | ||
Total assets | 8,215 | 17,823 | ||
Total liabilities | 1,988 | 1,464 | ||
Canadian [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 13,105 | 5,881 | ||
Canadian [Member] | Environmental Services [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 13,105 | 5,881 | ||
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 | 6,775 | 4,851 | ||
Non-Canadian [Member] | Environmental Services [Member] | ||||
Disclosure of operating segments [line items] | ||||
Total revenues as reported | 6,775 | 4,851 | ||
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, 2018CAD ($) | |
Three Customers [Member] | |
Disclosure of operating segments [line items] | |
Revenue | $ 12,580,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - Related parties [member] - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [line items] | ||
Salaries and other short-term benefits | $ 2,130 | $ 2,246 |
Share-based compensation | 2,513 | 2,072 |
Key management personnel compensation | $ 4,643 | $ 4,318 |
Commitments (Details)
Commitments (Details) $ in Thousands | Dec. 31, 2018CAD ($) |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | $ 1,440 |
2019 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 391 |
2020 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 283 |
2021 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 210 |
2022 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 210 |
2023 | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | 190 |
Thereafter | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum finance lease payments payable | $ 156 |
Commitments (Details Textual)
Commitments (Details Textual) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Commitments And Contingencies [Line Items] | ||
Contractual capital commitments | $ 360,000 | |
Subsequent Events [Member] | Flow-through common stock[] [Member] | ||
Disclosure Of Commitments And Contingencies [Line Items] | ||
Payments for exploration and evaluation expenses | $ 3,170,000 |