Loans payable (Tables)

12 Months Ended

Apr. 30, 2019

Summary of Valuation Assumptions Used to Determine Fair Value of Warrants

The Company determined a value of $171 on the warrants, which was included in the Discount, based on the Black-Scholes model with the following assumptions:


Stock price	$	0.17
Exercise price	$	0.20
Dividend rate		0	%
Expected Life		3 years
Expected annual volatility		56	%
Risk-free rate		1.45	%

Disclosure of loans repayable

Changes to the loan payable balance during the year ended April 30, 2019 and the year ended April 30, 2018, are as follows:


	Principal			Interest			Discount			Total
Balance, April 30, 2017	$	1,366		$	280		$	—		$	1,646
Financing, October 25, 2017		1,283			—			—			1,283
Repayment on debt		(1,213	)		(311	)		—			(1,524	)
Interest accrual		—			83			—			83
Foreign exchange adjustment		(154	)		—			—			(154	)

Balance, April 30, 2018		1,282			52			—			1,334
Financing, June 18 2018		3,000			—			(231	)		2,769
Discount		0			0			101			101
Interest accrual		0			325			0			325
Foreign exchange adjustment		59			0			0			59

Balance, April 30, 2019	$	4,341		$	377		$	(130	)	$	4,588

Disclosure of Loans and Payables


	April 30, 2019		April 30, 2018
Current	$	1,507	$	—
Non-Current		3,081		1,334

	$	4,588	$	1,334

Disclosure of financing costs

The Company’s financing costs for the year ended April 30, 2019, 2018, and 2017 as reported on its Consolidated Statement of Operations and Comprehensive Income (Loss) can be summarized as follows:


For the year ended April 30,	2019			2018			2017
Unwinding of discount on rehabilitation and closure accretion (note 11)	$	90		$	64		$	80
Discount unwinding on debt repaid (note 10)		101			—			48
San Pedrito Interest (note 8)		(159	)		—			—
Extension fee		0			—			45
Interest on diesel equipment lease		21			—			—
Interest expense on debt (note 10)		325			83			536
Interest revenue		(67	)		(86	)		(83	)

	$	311		$	61		$	626