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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 8,322,904 $ (8,970,806)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Accretion expense 52,822 25,469
Depreciation expense 22,029 22,029
Revaluation of warrant liability (13,560,969) 4,767,574
Share based compensation 718,123 910,418
Change in operating assets and liabilities:    
Prepaid expenses (31,914) 104,398
Deferred stock issuance costs 121,424 0
Debt issuance costs 49,469 0
Accounts payable (1,836,711) 922,162
Accrued interest 1,208,324 0
Asset retirement obligation (106,651) (49,651)
Net cash used in operating activities (5,041,150) (2,268,407)
Cash flows from investing activity    
Acquisition of mineral properties 0 (11,722,039)
Acquisition of property and equipment 0 (838,992)
Net cash used in investing activities 0 (12,561,031)
Cash flows from financing activities    
Proceeds from private placement of stock 8,568,651 0
Share issuance costs (701,225) 0
Increase in surety bond collateral (1,115,813) 0
Proceeds from conversion of warrants 0 291,638
Net cash provided by financing activities 6,751,613 291,638
Net increase (decrease) in cash 1,710,463 (14,537,800)
Cash, beginning of period 332,813 19,581,707
Cash, end of period 2,043,276 5,043,907
Noncash investing and financing activities    
Interest and taxes paid 0 0
Revaluation of asset retirement obligation 0 120,877
Deferred acquisition liability for purchase of CR Reward 0 22,126,000
Incurrence of asset retirement obligation 0 1,100,434
Stock issued for purchase of CR Reward 0 11,516,583
Warrant liability from units placement $ 1,668,671 $ 0