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Segmented Reporting
 12 Months Ended
Dec. 31, 2021
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 CEO 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 Northwest 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, 2021
 
 
 
 
 
  
  
GK Mine
 
 
            KNP
 
 
Total
 
Sales
    $              308,723     $
 -
    
$
             308,723
 
       
Cost of sales:
                         
       
Production costs
      140,099      
-
    
 
140,099
  
 
 
 
 
Cost of acquired diamonds
      15,723      
-
    
 
15,723
  
 
 
 
 
Depreciation and depletion
      39,173      
-
    
 
39,173
  
 
 
 
 
Earnings from mine operations
      113,728      
-
    
 
113,728
  
       
Impairment reversal on property, plant and equipment
      (240,593 )      -    
 
(240,593
) 
 
 
 
 
Exploration and evaluation expenses
      604       4,943    
 
5,547
  
 
 
 
 
Selling, general and administrative expenses
      13,816       42    
 
13,858
  
       
Operating income (loss)
      339,901       (4,985 )   
 
334,916
  
       
Net finance expenses
      (40,367 )       (6 )   
 
(40,373
) 
       
Other income
     
-
       143    
 
143
  
 
 
 
 
Derivative losses
      (67 )     
-
    
 
(67
) 
       
Foreign exchange gains
      2,268      
-
    
 
2,268
  
 
 
 
 
 
 
 
 
Net
income
(loss)
before
taxes

    $   301,735     $ (4,848 )   
$
296,887
 
       
Total assets

    $   705,465     $ 172,032    
$
  877,497
 
       
Total
liabilities

    $   523,397     $  3,365    
$
  526,762
 
 
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)
 
       
Impairment loss on property, plant and equipment
      217,366       
-
     
 
217,366
  
       
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