Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flow

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Consolidated Statements of Cash Flow - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net loss for the period $ (22,938,000) $ (14,785,000) $ (8,418,000)
Items not affecting cash:      
Stock based compensation 1,080,000 951,000 787,000
Net realizable value adjustments 7,000,000 7,802,000 10,263,000
Amortization of mineral properties 2,045,000 2,445,000 2,601,000
Depreciation of capital assets 1,789,000 1,818,000 1,812,000
Accretion expense 486,000 576,000 577,000
Amortization of deferred loan costs 46,000 71,000 108,000
Gain on loan forgiveness (903,000) 0 0
Provision for reclamation (5,000) 4,000 (5,000)
Write-off of mineral properties     11,000
Mark to market loss (gain) 5,998,000 680,000 (524,000)
Gain on sale of assets 0 (16,000) (18,000)
Unrealized foreign exchange loss (gain) 353,000 0 (28,000)
Accounts receivable (4,000) 22,000 9,000
Inventory (7,109,000) (8,190,000) (2,997,000)
Prepaid expenses (80,000) 71,000 5,000
Accounts payable and accrued liabilities 544,000 108,000 (196,000)
Net Cash Provided By Used In Operating Activities (11,698,000) (8,443,000) 3,987,000
Investing activities      
Mineral property costs 0 0 (9,000)
Decrease (increase) in bonding and other deposits 0 0 19,000
Proceeds from sale of capital assets 0 18,000 18,000
Purchase of capital assets (1,190,000) (43,000) (271,000)
Net Cash Provided By Used In Investing Activities (1,190,000) (25,000) (243,000)
Financing activities      
Issuance of common shares and warrants for cash 48,841,000 4,805,000 0
Share issue costs (2,188,000) (431,000) 0
Proceeds from exercise of warrants and stock options 8,507,000 99,000 203,000
RSU redeemed for cash (289,000) (39,000) (70,000)
Proceeds from debt financing 0 893,000 0
Repayment of debt 0 0 (2,554,000)
Net Cash Provided By Used In Financing Activities 54,871,000 5,327,000 (2,421,000)
Effects of foreign exchange rate changes on cash 45,000 53,000 62,000
Increase (decrease) in cash, cash equivalents, and restricted cash 42,028,000 (3,088,000) 1,385,000
Beginning cash, cash equivalents, and restricted cash 12,127,000 15,215,000 13,830,000
Ending cash, cash equivalents, and restricted cash $ 54,155,000 $ 12,127,000 $ 15,215,000