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Mining Interest, Plant and Equipment
 12 Months Ended
Apr. 30, 2020
Disclosure Of Property Plant And Equipment [Abstract]  
Mining Interest, Plant and Equipment

8.

Mining Interest, Plant and Equipment

 

 

 

Mining

Interest

 

 

Plant and

Equipment

Mining

 

 

Plant and

Equipment

Altiplano

 

 

Corporate

Office

Equipment

 

 

Total

 

Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2018

 

$

64,358

 

 

$

23,176

 

 

$

6,654

 

 

$

692

 

 

$

94,880

 

Additions

 

 

1,338

 

 

 

1,055

 

 

 

92

 

 

 

25

 

 

 

2,510

 

Impairment write-down

 

 

-

 

 

 

-

 

 

 

(5,576

)

 

 

(2

)

 

 

(5,578

)

Effect of foreign exchange

 

 

2,734

 

 

 

1,238

 

 

 

876

 

 

 

-

 

 

 

4,848

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2019

 

 

68,430

 

 

 

25,469

 

 

 

2,046

 

 

 

715

 

 

 

96,660

 

Additions

 

 

1,613

 

 

 

251

 

 

 

-

 

 

 

10

 

 

 

1,874

 

Sale of Altiplano

 

 

-

 

 

 

-

 

 

 

(2,137

)

 

 

-

 

 

 

(2,137

)

Effect of foreign exchange

 

 

2,733

 

 

 

883

 

 

 

91

 

 

 

-

 

 

 

3,707

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2020

 

$

72,776

 

 

$

26,603

 

 

$

-

 

 

$

725

 

 

$

100,104

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2018

 

$

40,312

 

 

$

11,919

 

 

$

650

 

 

$

523

 

 

$

53,404

 

Depreciation for the year

 

 

1,923

 

 

 

1,768

 

 

 

118

 

 

 

90

 

 

 

3,899

 

Impairment write-down

 

 

-

 

 

 

-

 

 

 

(774

)

 

 

-

 

 

 

(774

)

Effect of foreign exchange

 

 

1,701

 

 

 

806

 

 

 

6

 

 

 

-

 

 

 

2,513

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2019

 

 

43,936

 

 

 

14,493

 

 

 

-

 

 

 

613

 

 

 

59,042

 

Depreciation for the year

 

 

1,374

 

 

 

1,851

 

 

 

-

 

 

 

78

 

 

 

3,303

 

Impairment write-down

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Effect of foreign exchange

 

 

1,814

 

 

 

643

 

 

 

-

 

 

 

-

 

 

 

2,457

 

Balance, April 30, 2020

 

$

47,124

 

 

$

16,987

 

 

$

-

 

 

$

691

 

 

$

64,802

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying amounts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2019

 

$

24,494

 

 

$

10,976

 

 

$

2,046

 

 

$

102

 

 

$

37,618

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, April 30, 2020

 

$

25,652

 

 

$

9,616

 

 

$

-

 

 

$

34

 

 

$

35,302

 

 

 

8

Mining Interest, Plant and Equipment – (cont’d)

Sale of Altiplano Facility

On August 5, 2015, the Company acquired Cortez Gold Corp. (“Cortez”) in an all-share transaction completed pursuant to a court approved Plan of Arrangement under the Business Corporations Act (British Columbia). Cortez, through its subsidiary, Altiplano, owns and manages the Altiplano facility which processes third party gold and silver concentrate in Matehuala, Mexico.

The Company accepted an offer on July 5, 2019, to purchase 100% of the shares of Altiplano for US$1.6 million. The stock purchase agreement requires the payment of the US$1.6 million in instalments as to US$0.5 million on closing (received), US$0.5 million on August 31, 2019 (received), and US$0.2 million each 3 months from November 30, 2019 (received two payments, and third was received subsequent to April 30, 2020) to May 31, 2020. As a result, management had written down the plant and land at April 30, 2019 to US $1,600, less estimated selling costs of $100. The Company recorded an impairment of $4,804 to the Statements of Operations and Comprehensive Loss during the year ended April 30, 2019. Remaining working capital amounts of Altiplano of $39 have been expensed to the income statement in the current period.

Sale of San Pedrito

On March 21, 2017, the Company finalized the sale of its San Pedrito Property, a non-core asset located in Queretaro, Mexico for Mexican Pesos (“MXN$”) 192,784,331 and reported a gain of $7,128 on the Statement of Operations and Comprehensive Loss during the year ended April 30, 2017. During the prior year ending April 30, 2019, the Company received MXN$ 15,000,000 ($1,027) and interest of MXN$ 2,300,000 ($159) on 6 ha of the remaining 14 ha of parcels to be paid and made an allowance for the remaining receivable of $441 to the Statements of Operations and Comprehensive Loss.