XML 51 R40.htm IDEA: XBRL DOCUMENT v3.25.2
LOANS PAYABLE (Narrative) (Details)
1 Months Ended 9 Months Ended
Oct. 10, 2024
USD ($)
$ / shares
shares
Feb. 06, 2024
USD ($)
$ / shares
shares
Sep. 03, 2019
USD ($)
shares
Sep. 30, 2024
USD ($)
$ / shares
shares
Feb. 28, 2023
USD ($)
shares
Apr. 30, 2025
$ / shares
shares
Jul. 31, 2024
$ / shares
Jul. 31, 2023
$ / shares
Feb. 28, 2023
$ / shares
Feb. 28, 2023
USD ($)
Sep. 03, 2019
$ / shares
Sep. 03, 2019
USD ($)
$ / shares
Debt Instrument [Line Items]                        
Warrants issued | shares   1,000,000       1,700,000            
Fair value of warrants   $ 127,336                    
Warrant exercise price | $ / shares   $ 0.16       $ 0.18 $ 0.41 $ 0.69        
Eridanus Capital LLC [Member] | Loans payable [Member]                        
Debt Instrument [Line Items]                        
Proceeds from loans     $ 1,000,000                  
Loan term     4 years                  
Interest rate description     an annual interest rate of 10% for the first two years increasing to 20% in year 3 and to 25% in year 4. Interest will accrue and be paid along with the principal upon the maturity date.                  
Warrants issued | shares     1,150,000 1,700,000 575,000              
Amount paid to lender     $ 15,000   $ 250,000              
Interest rate       15.00% 15.00%              
Fair value of warrants       $ 154,351           $ 154,218   $ 444,942
Issuance costs     459,942                  
Warrant exercise price | (per share)       $ 0.115         $ 0.6   $ 1 $ 0.8
Maximum total interest payments for repayment to lender     $ 200,000                  
Debt instrument, description         The maturity date of the Eridanus loan has been extended by one year to September 4, 2024 and the interest rate has been reduced to 15% compounding monthly for a period of 12 months after which it reverts to 25% per annum, compounding monthly. The renegotiation of the debt was accounted for as a non - substantial debt modification.Accordingly, no gain or loss was recorded and a new effective interest rate of 32.67% was established based on the carrying value of the debt and the revised cash flow. Each warrant entitles the holder to acquire one share at an exercise price of $0.60 for a period of two years from the date of issuance. The fair value of these warrants was calculated to be $154,218 which was netted against the loan payable balance.              
Reverted interest rate         25.00%              
New effective interest rate                   32.67%    
Renegotiation of debt instrument increase decrease present value of cash flow       10.00%                
Expiry period of share purchase warrants       4 years                
Eridanus Capital LLC [Member] | Loans payable [Member] | Interest rate in first two years [Member]                        
Debt Instrument [Line Items]                        
Interest rate     10.00%                  
Eridanus Capital LLC [Member] | Loans payable [Member] | Interest rate in year three [Member]                        
Debt Instrument [Line Items]                        
Interest rate     20.00%                  
Eridanus Capital LLC [Member] | Loans payable [Member] | Interest rate in year four [Member]                        
Debt Instrument [Line Items]                        
Interest rate     25.00%                  
Myrmikan Gold Fund, LLC [Member] | Loans payable [Member]                        
Debt Instrument [Line Items]                        
Proceeds from loans $ 500,000                      
Loan term 4 years                      
Warrants issued | shares 2,882,514                      
Interest rate 15.00%                      
Fair value of warrants $ 334,423                      
Warrant exercise price | $ / shares $ 0.1735                      
Expiry period of share purchase warrants 4 years