Investment in associate

12 Months Ended

Sep. 30, 2022

Disclosure of associates [abstract]

Investment in associate

9. Investment in associate

The Company acquired 25,687,444 common shares of Val-d'Or Mining Corporation ("VZZ") as part of the acquisition of Golden Valley. On March 18, 2022, the Company participated in the VZZ private placement offering and acquired 3,277,606 units at a price of C$0.16 per unit. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable for the purchase of one common share of VZZ at a per share price of C$0.20 until March 18, 2024. As at September 30, 2022, the Company has a 35.59% equity interest in VZZ.

The following table summarizes the changes to investment in associates for the period from November 5, 2021 to September 30, 2022:

	($)
Balance at September 30, 2021		—
Acquisition of Golden Valley		1,360
Addition		409
Share of loss in associate		(296	)
Dilution gain		100
Translation gain		(144	)
Balance at September 30, 2022		1,429