Note 10 - Capital Risk Management

12 Months Ended

Dec. 31, 2020

Statement Line Items [Line Items]

Disclosure of objectives, policies and processes for managing capital [text block]

10. Capital risk management

The Company's objectives in managing its liquidity and capital are to safeguard the Company's ability to continue as a going concern and to provide financial capacity to meet its strategic objectives. The capital structure of the Company consists of its equity (comprising of share capital, equity reserve, accumulated other comprehensive (loss) income and deficit), net of cash and cash equivalents.

Capital as defined above is summarized in the following table:

		December 31,			December 31,
		2020			2019
Equity	$	316,668		$	215,247
Cash and cash equivalents ( Note 3 )		(94,008	)		(72,360	)
	$	222,660		$	142,887

The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company

may

attempt to issue new shares, issue debt, acquire or dispose of assets.

In order to facilitate the management of its capital requirements, the Company prepares annual expenditure budgets that are updated as necessary depending on various factors, including successful capital deployment and general industry conditions. The annual and updated budgets are approved by the Board of Directors. The Company currently does

not

pay out dividends.

As at

December 31, 2020,

the Company does

not

have any long-term debt and is

not

subject to any externally imposed capital requirements.

The Company has working capital of

$94,513

as at

December 31, 2020.

The Company

may

require additional capital in the future to meet its future project and other related expenditures (see

Notes

6,

7,

and

15

). Future liquidity

may

depend upon the Company's ability to arrange debt or additional equity financings.