Segmented Reporting

12 Months Ended

Dec. 31, 2020

Disclosure of Segmented Reporting [Abstract]

Segmented Reporting

19.     SEGMENTED REPORTING

The reportable operating segments are those operations for which operating results are reviewed by the Chief Executive Officer who is the chief operating decision maker regarding decisions about resources to be allocated to the segment and to assess performance provided those operations pass certain quantitative thresholds. Operations with revenues, earnings or losses or assets that exceed 10% of total consolidated revenue, earnings or losses or assets are reportable segments.

As a result of the asset acquisition of Kennady, which included all mineral rights of the KNP, the Company now owns multiple diamond projects in the North West Territories, Canada. The GK Mine is a diamond mine in operations, while the KNP resource continues to be developed through exploration and evaluation programs.

As at and for the year ended December 31, 2020

	GK Mine			KNP		Total
Sales	$	226,993		$	-	$	226,993
Cost of sales:
Production costs		153,679			-		153,679
Cost of acquired diamonds		11,088			-		11,088
Depreciation and depletion		63,711			-		63,711
Loss from mine operations		(1,485)			-		(1,485)
Exploration and evaluation expenses		1,076			2,731		3,807
Selling, general and administrative expenses		13,110			43		13,153
Operating loss		(233,037	)		(2,774)		(235,811	)
Net finance expenses		(39,920)			(77)		(39,997)
Derivative gains		127			-		127
Foreign exchange gains		12,252			-		12,252
Net loss before taxes	$	(260,578	)	$	(2,851)	$	(263,429	)
Total assets	$	424,272		$	171,057	$	595,329
Total liabilities	$	519,074		$	2,555	$	521,629

As at and for the year ended December 31, 2019

	GK Mine		KNP		Total
Sales	$	276,334	$	-	$	276,334
Cost of sales:
Production costs		152,585		-		152,585
Cost of acquired diamonds		16,081		-		16,081
Depreciation and depletion		82,825		-		82,825
Earnings from mine operations		24,843		-		24,843
Impairment loss on property, plant and equipment		115,753		-		115,753
Exploration and evaluation expenses		4,754		4,130		8,884
Selling, general and administrative expenses		13,023		35		13,058
Operating loss		(108,687)		(4,165)		(112,852)
Net finance expenses		(38,635)		(2)		(38,637)
Derivative losses		(1,214)		-		(1,214)
Foreign exchange gains (losses)		20,765		(1)		20,764
Net loss before taxes	$	(127,771)	$	(4,168)	$	(131,939)
Total assets	$	651,898	$	170,797	$	822,695
Total liabilities	$	484,270	$	2,279	$	486,549