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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Loss for the year $ (4,426) $ (5,802)
Items not involving cash:    
Amortization 106 15
Change in fair value of warrants 39 622
Deferred income tax (benefit) expense (131) 796
Equity pick up from associate (1,884) (227)
Gain on sale of exploration and evaluation assets, net of transaction costs (1,151)
Share based payment expense 2,572 2,109
Unrealized foreign exchange loss 255 58
Accounts receivable 288 (212)
Prepaid expenses 58 (39)
Trade and other payables (84) (114)
Net cash used in operating activities (3,207) (3,945)
INVESTING ACTIVITIES    
Exploration and evaluation expenditures (3,230) (2,216)
Investment in Juanicipio (53,549) (23,942)
Disposition costs from sale of exploration and evaluation assets (51)
Purchase of property and equipment (354) (3)
Net cash used in investing activities (57,133) (26,212)
FINANCING ACTIVITIES    
Issuance of common shares upon exercise of stock options 2,819
Payment of lease obligation (principal) (71)
Net cash from financing activities 2,748
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (228) (58)
DECREASE IN CASH AND CASH EQUIVALENTS (57,820) (30,215)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 130,180 160,395
CASH AND CASH EQUIVALENTS, END OF YEAR $ 72,360 $ 130,180