CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

12 Months Ended

Dec. 31, 2018

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

NOTE 21 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:

	December 31,
	2018		2017
Cash and cash equivalents	$	15,756	$	27,153
Restricted cash		14,685		10,000
Restricted cash included in other assets		48		-
Total cash, cash equivalents, and restricted cash	$	30,489	$	37,153

Amounts included in restricted cash represent the proceeds of the sale of flow-through common shares as described in Note 10 Shareholders’ Equity.  No proceeds from the 2018 sale of flow-through common shares has been spent as of December 31, 2018, and therefore, $14.7 million of proceeds remain restricted and will be utilized to fund exploration activities during 2019, at which point the restriction will lapse. The proceeds are required by the Income Tax Act (Canada) to be used as payment for generative exploration activities at the Company’s Canadian properties. The entire proceeds of $10.0 million from the 2017 sale of flow-through common shares has been spent and no restriction remains as of December 31, 2018. 

Restricted cash included in other assets relates to reclamation bonding obligations in relation to the Company’s Lexam properties in Timmins, Canada.