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Amounts receivable

12 Months Ended

Aug. 31, 2022

The Company’s amounts receivable arise from three main sources: receivables from precious metal sales, receivables due from related parties, harmonized services tax (“HST”) and value added tax (“VAT”) receivable from government taxation authorities. These are broken down as follows:

Schedule of Summary of Receivables
	2022			2021
Sales tax receivable⁽¹⁾	$	4,359		$	432
Other		40			28
		4,399			460
Less: other long-term asset⁽¹⁾		(4,359	)		-
Amounts Receivable	$	40		$	460

⁽¹⁾

Sales tax receivables are due from government tax authorities in Canada and Tanzania. During the year ended August 31, 2022, the Company reclassified certain VAT balances that were previously capitalised as Exploration and Evaluation assets (“E&E”) to Other long-term asset. Tanzania tax regulation has an allowance for VAT receivable to be refunded or set-off against taxes due to the Tanzania Revenue Authority (“TRA”).

The Company has experienced delays in receiving payment or confirmation of offset against other taxes, which resulted in the initial capitalization of the VAT amount as E&E. The Company is in communication with TRA and there is an expectation for the offsetting of the VAT receivable against other taxes in the future.

The receivable balances which still need to be verified by the TRA have been classified as Other long-term asset.

Below is an aged analysis of the Company’s amounts receivable:


	2022		2021
Less than 1 month	$	10	$	23
1 to 3 months		30		43
Over 3 months		0		394
	$	40	$	460

As of August 31, 2022, the Company anticipates full recovery of these amounts and therefore no impairment has been recorded against these receivables. The credit risk on the receivables is further discussed in Note 24.

The Company holds no collateral for any receivable amounts outstanding as at August 31, 2022.