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Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Operating activities      
Net (loss) for the period $ (6,346,213) $ (5,582,036) $ (25,341,623)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation (note 10) 133,775 336,927  
Depreciation expense 161,894 90,814  
Change in fair value of warrant liability (462,763) 263,943  
Deferred tax expense (699,920)  
Change in fair value of silver loan 6,068,932  
Interest expense on lease liability (note 7) 8,907 27,008  
Financing costs 7,116  
Loss on debt settlement 298,713 70,093  
(Gain) loss on debt modification (4,699,460) 217,000  
Accretion of liabilities 1,695,679 1,551,867  
Loss on fair value of convertible debentures 78,364 157,232  
Changes in operating assets and liabilities:      
Accounts receivable and prepaid expenses (394,588) (104,603)  
Accounts payable 455,629 608,475  
Accrued liabilities (329,008) (304,831)  
Interest payable 487,241 504,864  
Net cash (used in) operating activities (2,835,782) (2,863,167)  
Investing activities      
Process plant (12,550,192) (2,596,535)  
Mine improvements (1,583,445) (495,050)  
Purchase of machinery and equipment (264,634)  
Net cash (used in) investing activities (14,133,637) (3,356,219)  
Financing activities      
Proceeds from debt facility 11,000,000  
Proceeds from Teck promissory note 3,095,097  
Lease payments (55,417) (198,668)  
Net cash (used in) provided by financing activities 14,039,680 (198,668)  
Net change in cash (2,929,739) (6,418,054)  
Cash, beginning of period 8,261,277 26,578,596 26,578,596
Cash, end of period 5,331,538 20,160,542 8,261,277
Non-cash activities      
Financing cooperation fee settled with common shares 179,998  
Interest payable settled with common shares 510,404 580,498  
Reconciliation from Cash Flow Statement to Balance Sheet:      
Cash and restricted cash end of period 5,331,538 20,160,542  
Less restricted cash 2,975,000 6,476,000 $ 4,475,000
Cash end of period $ 2,356,538 $ 13,684,542