Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document Information [Line Items] | |
Entity Registrant Name | ALMADEN MINERALS LTD |
Entity Central Index Key | 1,015,647 |
Trading Symbol | aau |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Entity Common Stock, Shares Outstanding (in shares) | 102,199,625 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents (Note 16) | $ 16,334,534 | $ 9,770,006 |
Accounts receivable and prepaid expenses (Note 5) | 368,963 | 380,898 |
Total current assets | 16,703,497 | 10,150,904 |
Non-current assets: | ||
Deposit on mill equipment (Note 9) | 4,923,209 | 1,280,383 |
Property, plant and equipment (Note 10) | 372,292 | 97,252 |
Exploration and evaluation assets (Note 11) | 44,804,198 | 35,985,356 |
Total non-current assets | 50,099,699 | 37,362,991 |
TOTAL ASSETS | 66,803,196 | 47,513,895 |
Current liabilities: | ||
Trade and other payables (Note 13) | 638,001 | 857,823 |
Non-current liabilities: | ||
Deferred income tax liability (Note 17) | 1,434,882 | 1,434,882 |
Total liabilities | 2,072,883 | 2,292,705 |
EQUITY | ||
Share capital (Note 12) | 118,054,463 | 95,290,220 |
Reserves (Note 12) | 15,528,276 | 13,552,101 |
Deficit | (68,852,426) | (63,621,131) |
Total equity | 64,730,313 | 45,221,190 |
TOTAL EQUITY AND LIABILITIES | $ 66,803,196 | $ 47,513,895 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expenses | |||
Professional fees | $ 683,915 | $ 512,659 | $ 1,089,276 |
Salaries and benefits (Note 13(b)) | 1,480,745 | 1,381,060 | 799,566 |
Travel and promotion | 286,920 | 259,840 | 264,128 |
Depreciation (Note 10) | 28,274 | 27,039 | 131,486 |
Office and license (Note 13(b)) | 145,965 | 120,972 | 150,844 |
Rent (Note 13(b)) | 173,891 | 146,759 | 175,583 |
Stock exchange fees | 48,037 | 23,389 | 115,294 |
Insurance | 55,007 | 60,499 | 70,202 |
Transfer agent fees | 33,919 | 23,370 | 31,830 |
Directors’ fees (Note 13(a)) | 70,000 | 41,000 | 48,000 |
General exploration expenses (Note 13(a)) | 1,467 | 432,764 | |
Share-based payments (Note 12(d)13(a)) | 2,693,070 | 1,869,010 | 950,740 |
Total Expenses | 5,699,743 | 4,467,064 | 4,259,713 |
Other income (loss) | |||
Interest and other income (Note 13(b)) | 654,741 | 550,271 | 303,403 |
Impairment of exploration and evaluation assets | (97,044) | ||
Income on exploration and evaluation assets | 0 | 0 | 32,920 |
Loss on investment in associate (Note 7) | (95,892) | ||
Impairment of marketable securities (Note 6) | (162,000) | ||
Impairment of investment in associate (Note 7) | (470,700) | ||
Gain on transfer of spin-out assets (Note 2) | 3,115,422 | ||
Loss on fair value of contingent shares receivable (Note 8) | (22,500) | ||
Loss on sale of property, plant and equipment (Note 10) | (1,760) | (3,985) | (22,692) |
Foreign exchange gain (loss) | (184,533) | (102,726) | 129,671 |
Total other income (loss) | 468,448 | 443,560 | 2,710,588 |
Loss before income taxes | (5,231,295) | (4,023,504) | (1,549,125) |
Deferred income tax recovery (Note 17) | 404,600 | ||
Net loss for the year | (5,231,295) | (4,023,504) | (1,144,525) |
Other comprehensive loss | |||
Net change in fair value of available-for-sale financial assets, net of tax of $Nil | 170,640 | ||
Reclassification adjustment relating to available-for-sale financial assets included in net loss, net of tax of $Nil | (162,812) | ||
Other comprehensive loss for the year | (333,452) | ||
Total comprehensive loss for the year | $ (5,231,295) | $ (4,023,504) | $ (1,477,977) |
Basic and diluted net loss per share (Note 15) (in CAD per share) | $ (0.05) | $ (0.05) | $ (0.02) |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Loss (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2015CAD ($) | |
Statement Line Items [Line Items] | |
Net change in fair value of available-for-sale financial assets, tax | $ 0 |
Reclassification adjustment relating to available for sale financial assets included in net income (loss), tax | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows | 12 Months Ended | ||
Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) | |
Operating activities | |||
Net loss for the year | $ (5,231,295) | $ (4,023,504) | $ (1,144,525) |
Items not affecting cash | |||
Deferred income tax recovery | (404,600) | ||
Loss on investment in associate | 95,892 | ||
Depreciation | 28,274 | 27,039 | 131,486 |
Unrealized foreign exchange | 9,575 | (1,370) | |
Loss on fair value of contingent shares receivable | 22,500 | ||
Loss on disposal of property, plant and equipment | 1,760 | 3,985 | 22,692 |
Impairment of marketable securities | 162,000 | ||
Impairment of investment in associate | 470,700 | ||
Impairment of exploration and evaluation assets | 97,044 | ||
Gain on transfer of spin-out assets | (3,115,422) | ||
Share-based payments | 2,693,070 | 1,869,010 | 950,740 |
Accounts receivable and prepaid expenses | 11,935 | 2,566 | (342,649) |
Trade and other payables | (178,511) | (209,807) | 39,546 |
Net cash used in operating activities | (2,674,767) | (2,321,136) | (3,015,966) |
Investing activities | |||
Exploration and evaluation assets deposits | 683 | ||
Deposits on mill equipment | (3,642,826) | (324,600) | (692,000) |
Property, plant and equipment – purchase | (305,074) | (22,538) | (2,516) |
Exploration and evaluation assets – costs | (8,860,153) | (5,177,485) | (3,668,974) |
Net cash used in investing activities | (12,808,053) | (5,524,623) | (4,362,807) |
Financing activities | |||
Cash paid to Almadex pursuant to the plan of arrangement | (3,000,000) | ||
Issuance of shares, net of share issue costs | 19,115,418 | 4,091,646 | 8,428,953 |
Options exercised | 1,105,290 | 143,490 | |
Share issuance cost on cashless exercise of options (Note 12(d)) | (203,232) | ||
Warrants and finders’ warrants exercised | 2,029,872 | 7,157,851 | |
Net cash from financing activities | 22,047,348 | 11,392,987 | 5,428,953 |
Change in cash and cash equivalents | 6,564,528 | 3,547,228 | (1,949,820) |
Cash and cash equivalents, beginning of year | 9,770,006 | 6,222,778 | 8,172,598 |
Cash and cash equivalents, end of year | $ 16,334,534 | $ 9,770,006 | $ 6,222,778 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CAD ($) | Issued capital [member] | Reserve of share-based payments [member] | Warrants [member] | Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | Total reserves [member] | Retained earnings [member] | Total |
Balance (in shares) at Dec. 31, 2014 | 68,728,321 | ||||||
Balance at Dec. 31, 2014 | $ 87,083,931 | $ 10,372,323 | $ 299,982 | $ 333,452 | $ 11,005,757 | $ (58,453,102) | $ 39,636,586 |
Statement Line Items [Line Items] | |||||||
Share-based payments | 950,740 | 950,740 | 950,740 | ||||
Private placements, net (in shares) | 8,926,666 | ||||||
Private placements, net | $ 8,229,361 | 180,267 | 180,267 | 8,409,628 | |||
Transfer of net assets pursuant to spin-out | (11,828,963) | (11,828,963) | |||||
Finders' warrants issued pursuant to private placement | 19,325 | 19,325 | 19,325 | ||||
Shares issued pursuant to mill option agreement (in shares) | 407,997 | ||||||
Shares issued pursuant to mill option agreement | $ 273,358 | 273,358 | |||||
Total comprehensive loss for the year | (332,452) | (333,452) | (1,144,525) | (1,477,977) | |||
Fair value of finders’ warrants transferred to share capital | |||||||
Fair value of cashless stock options transferred to share capital | |||||||
Balance (in shares) at Dec. 31, 2015 | 78,062,984 | ||||||
Balance at Dec. 31, 2015 | $ 83,757,687 | 11,323,063 | 499,574 | 11,822,637 | (59,597,627) | 35,982,697 | |
Statement Line Items [Line Items] | |||||||
Share-based payments | 1,869,010 | 1,869,010 | 1,869,010 | ||||
Private placements, net (in shares) | 3,229,082 | ||||||
Private placements, net | $ 4,073,728 | 4,073,728 | |||||
Finders' warrants issued pursuant to private placement | 17,918 | 17,918 | 17,918 | ||||
Shares issued pursuant to mill option agreement (in shares) | 182,000 | ||||||
Total comprehensive loss for the year | (4,023,504) | (4,023,504) | |||||
Shares issued for cash on exercise of finders’ warrants (in shares) | 35,200 | ||||||
Shares issued for cash on exercise of finders’ warrants | $ 27,104 | 27,104 | |||||
Fair value of finders’ warrants transferred to share capital | $ 5,984 | (5,984) | (5,984) | ||||
Shares issued for cash on exercise of warrants (in shares) | 4,592,667 | ||||||
Shares issued for cash on exercise of warrants | $ 7,130,747 | 7,130,747 | |||||
Shares issued for cash on exercise of stock options | 143,490 | 143,490 | |||||
Fair value of cash stock options transferred to share capital | $ 43,180 | (43,180) | (43,180) | ||||
Shares issued on cashless exercise of stock options (in shares) | 63,510 | ||||||
Shares issued on cashless exercise of stock options | |||||||
Fair value of cashless stock options transferred to share capital | $ 108,300 | (108,300) | (108,300) | ||||
Balance (in shares) at Dec. 31, 2016 | 86,165,443 | ||||||
Balance at Dec. 31, 2016 | $ 95,290,220 | 13,040,593 | 511,508 | 13,552,101 | (63,621,131) | 45,221,190 | |
Statement Line Items [Line Items] | |||||||
Share-based payments | 2,693,070 | 2,693,070 | 2,693,070 | ||||
Private placements, net (in shares) | 12,377,207 | ||||||
Private placements, net | $ 18,934,727 | 18,934,727 | |||||
Finders' warrants issued pursuant to private placement | 180,691 | 180,691 | 180,691 | ||||
Shares issued pursuant to mill option agreement (in shares) | 1,107,000 | ||||||
Total comprehensive loss for the year | (5,231,295) | (5,231,295) | |||||
Shares issued for cash on exercise of finders’ warrants (in shares) | 30,472 | ||||||
Shares issued for cash on exercise of finders’ warrants | $ 43,205 | 43,205 | |||||
Fair value of finders’ warrants transferred to share capital | $ 12,797 | (12,797) | (12,797) | ||||
Shares issued for cash on exercise of warrants (in shares) | 1,986,667 | ||||||
Shares issued for cash on exercise of warrants | $ 1,986,667 | 1,986,667 | |||||
Shares issued for cash on exercise of stock options | 1,105,290 | 1,105,290 | |||||
Fair value of cash stock options transferred to share capital | $ 496,859 | (496,859) | (496,859) | ||||
Shares issued on cashless exercise of stock options (in shares) | 532,836 | ||||||
Shares issued on cashless exercise of stock options | |||||||
Fair value of cashless stock options transferred to share capital | 387,930 | (387,930) | (387,930) | ||||
Shares issuance cost on cashless exercise of options | $ (203,232) | (203,232) | |||||
Balance (in shares) at Dec. 31, 2017 | 102,199,625 | ||||||
Balance at Dec. 31, 2017 | $ 118,054,463 | $ 14,848,874 | $ 679,402 | $ 15,528,276 | $ (68,852,426) | $ 64,730,313 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of basis of consolidation [text block] | 1. Nature of operations Almaden Minerals Ltd. (the “Company” or “Almaden”) was formed by amalgamation under the laws of the Province of British Columbia, Canada on February 1, 2002. 1710 –1177 V6E 2L3. The Company is in the business of exploring and developing mineral projects and its principal asset is the Ixtaca precious metals project located on its Tuligtic claim in Mexico. The Company has not |
Note 2 - Plan of Arrangement
Note 2 - Plan of Arrangement | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Spin-off arrangements [Text Block] | 2. Plan of arrangement On July 31, 2015, Pursuant to the Plan of Arrangement, Almaden’s shareholders exchanged their existing common shares of Almaden and received one 0.6 The carrying value of the net assets transferred to Almadex, pursuant to the Plan of Arrangement consisted of the following assets and liabilities: Assets: Accounts receivable and prepaid expenses $ 142,731 Marketable securities (1) 357,672 Inventory 274,768 Investment in associate 2,108,408 Reclamation deposit 30,235 Contingent shares receivable 47,100 Property, plant and equipment 622,971 Exploration and evaluation assets 2,128,240 Total assets 5,712,125 Liabilities: Trade and other payables (49,748 ) Carrying value of net assets 5,662,377 Fair value of net assets distributed 8,777,799 Gain on transfer of spin-out assets $ 3,115,422 ( 1 The carrying value of the marketable securities spun out on July 31, 2015, $162,812. In accordance with IFRIC 17, The Plan of Arrangement resulted in a reduction of share capital amounting to $11,828,963 $8,777,799 $3,000,000 $51,164 The fair value of the net assets distributed was based on the share price of Almadex on August 14, 2015, first $0.20 43,888,992. Under the terms of the Plan of Arrangement, each issued and outstanding Almaden option and warrant was adjusted to compensate the option and warrant holders for the assets spun-out. The exercise price paid was allocated between the Company and Almadex on the same ratio that the fair market value of the spin-out assets had, to the fair market value of the assets of the Company. See Note 12 |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of basis of preparation of financial statements [text block] | 3. Basis of presentation (a) Statement of Compliance with International Financial Reporting Standards (“IFRS”) These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). (b) Basis of preparation These consolidated financial statements have been prepared on a historical cost basis except for financial instruments classified as fair value through profit or loss, and available-for-sale, which have been measured at fair value. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are effective as at December 31, 2017. Certain amounts in prior years have been reclassified to conform to the current period presentation. (c) Functional currency The functional and reporting currency of the Company and its subsidiaries is the Canadian dollar. (d) Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make judgements and estimates that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these judgements and estimates. The consolidated financial statements include judgements and estimates which, by their nature, are uncertain. The impacts of such judgements and estimates are pervasive throughout the consolidated financial statements, and may Significant assumptions about the future and other sources of judgements and estimates that management has made at the statement of financial position dates, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not Critical Judgments o The analysis of the functional currency for each entity of the Company determined by conducting an analysis of the consideration factors identified in IAS 21, no o The determination that the carrying amount of the Tuligtic Project will be recovered through use rather than sale (Notes 11 17 Estimates o The recoverability of accounts receivable which is included in the consolidated statements of financial position; o The estimated annual gains or losses from income and dilution on the former investment in associate; o The estimated useful lives of property, plant and equipment which are included in the consolidated statements of financial position and the related depreciation included in the profit or loss; o The recoverability of the value of the exploration and evaluation assets which is recorded in the consolidated statements of financial position (Note 4 ( d) Significant accounting judgments and estimates (continued) Estimates (continued) o The Company uses the Black-Scholes option pricing model to determine the fair value of options and warrants in order to calculate share-based payments expense and the fair value of finders’ warrants and stock options. Certain inputs into the model are estimates that involve considerable judgment and are or could be affected by significant factors that are out of the Company’s control; o The provision for income taxes which is included in profit or loss and the composition of deferred income tax liability included in the consolidated statement of financial position and the evaluation of the recoverability of deferred tax assets based on an assessment of the Company’s ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions; o The assessment of indications of impairment of each exploration and evaluation asset and related determination of the net realizable value and write-down of those assets where applicable (Note 4 |
Note 4 - Significant Accounting
Note 4 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of significant accounting policies [text block] | 4. Significant Accounting Policies ( a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows: Jurisdiction Nature of operations Puebla Holdings Inc. Canada holding company Minera Gorrion, S.A. de C.V. Mexico exploration company (i) Almaden America Inc. USA exploration company (i) Republic Resources Ltd. Canada service company (i) Ixtaca Precious Metals Inc. Canada holding company (i) Pangeon Holdings Ltd. Canada holding company (i) Almaden de Mexico, S.A. de C.V. Mexico exploration company (i) Minera Gavilan, S.A. de C.V. Mexico exploration company (i) Compania Minera Zapata, S.A. de C.V. Mexico exploration company (i) Minera Alondra, S.A. de C.V. Mexico holding company (i) Included in consolidation until July 31, 2015 2 Investments where the Company has the ability to exercise significant influence are accounted for using the equity method. Under this method, the Company’s share of the investee’s profit or loss is included in profit or loss and its investments therein are adjusted by a like amount. Dividends received from these investments are credited to the investment. The Company’s former 38.8% Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing these consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no (b) Foreign currencies Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction dates. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are not (c) Financial instruments Financial assets The Company classifies its financial assets into one Fair value through profit or loss - Loans and receivables - not Held-to-maturity investments Available-for-sale not All financial assets except for those at fair value through profit or loss are subject to review for impairment at least at each reporting date. Financial assets are impaired when there is any objective evidence that a financial asset or a group of financial assets is impaired. Different criteria to determine impairment are applied for each category of financial assets, which are described above. Financial liabilities The Company classifies its financial liabilities into one two Fair value through profit or loss Other financial liabilities (d) Cash and cash equivalents Cash equivalents include money market instruments which are readily convertible into cash or have maturities at the date of purchase of less than ninety (e) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, and are depreciated annually on a declining-balance basis if available for use at the following rates: Automotive equipment 30 % Furniture, fixtures and other 20 % Computer hardware and software 30 % Geological library 20 % Field equipment 20 % Mill equipment 7 % (f) Exploration and evaluation assets The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of mineral claims to which the Company has rights and crediting all proceeds received from farm-out arrangements or recovery of costs against the cost of the related claims. Acquisition costs include, but are not not The Company considers the following facts and circumstances in determining if it should test exploration and evaluation assets for impairment: (i) the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not (ii) substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned; (iii) exploration for and evaluation of mineral resources in the specific area have not (iv) sufficient data exists to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation assets is unlikely to be recovered in full from successful development or by sale. An impairment charge may not no not The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in profit or loss costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area of interest are first All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditure is not (g) Impairment of property, plant and equipment Property, plant and equipment are reviewed for impairment at least annually, or if there is any indication that the carrying amount may not not An asset’s recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount is reduced to the recoverable amount by way of recording an impairment charge to profit or loss. Where an impairment subsequently reverses, the carrying amount is increased to the revised estimate of recoverable amount but only to the extent that this does not no (h) Income taxes Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no (i) Share-based payments The Company’s stock option plan allows Company employees, directors, officers and consultants to acquire shares of the Company. The fair value of options granted is recognized as share-based payment expense with a corresponding increase in equity reserves. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee . Fair value is measured at grant date, and each tranche is recognized using the graded vesting method over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model, taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of stock options that are expected to vest. In situations where equity instruments are issued to consultants and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at the fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of goods or services received. (j) Share capital Proceeds from the exercise of stock options and warrants are recorded as share capital in the amount for which the option or warrant enabled the holder to purchase a share in the Company, in addition to the proportionate amount of reserves originally created at the issuance of the stock options or warrants. Share capital issued for non-monetary consideration is valued at the closing market price at the date of issuance. The proceeds from the issuance of units are allocated between common shares and common share purchase warrants based on the residual value method. Under this method, the proceeds are allocated to common shares based on the fair value of a common share at the announcement date of the unit offering and any residual remaining is allocated to common share purchase warrants. (k) Reclamation and closure cost obligations Decommissioning and restoration provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation and discount rates. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows discounted for the market discount rate. Over time the discounted liability is increased for the changes in the present value based on the current market discount rates and liability risks. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third When the Company enters into an option agreement on its exploration and evaluations assets, as part of the option agreement, responsibility for any reclamation and remediation becomes the responsibility of the optionee. (l) Net loss per share The Company presents the basic and diluted net loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net loss per share is determined by adjusting the net loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares (Note 15 (m) Application of new and revised accounting standards effective January 1, 2017 The following new accounting standards and amendments which the Company adopted and are effective for the Company's interim and annual consolidated financial statements commencing January 1, 2017: IFRS 7: 39 9. (n) Future accounting standards Certain pronouncements were issued by the IASB or IFRIC but are not December 31, 2017. not not The following are the accounting standards issued but not Revenue recognition IFRS 15 May 2014, 15 15" 11 18 13 15 18 31 15 five January 1, 2018, no Financial instruments IFRS 9 July 2014, 9 9" 39 9 9 January 1, 2018, not Leases IFRS 16 January 2016, 16 16" 17 16 16 January 1, 2019, 15. |
Note 5 - Accounts Receivable an
Note 5 - Accounts Receivable and Prepaid Expenses | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of accounts receivable and prepaid expenses [text block] | 5. Accounts receivable and prepaid expenses Accounts receivable and prepaid expenses consist of the following: December 31, December 31, 2017 2016 Accounts receivable (Note 13(b)) $ 243,971 $ 248,379 Prepaid expenses 124,992 132,519 $ 368,963 $ 380,898 At December 31, 2017, $444,729 2016 $248,142 11 |
Note 6 - Marketable Securities
Note 6 - Marketable Securities | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Marketable securities [text block] | 6. Marketable Securities The Company formerly held marketable securities consisting of equity securities of publicly traded companies, which were designated as available-for-sale, and valued at fair value. During the year ended December 31, 2015, $162,000 July 31, 2015 ( 2 |
Note 7 - Investment in Associat
Note 7 - Investment in Associate | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Investment [Text Block] | 7. Investment in Associate Gold Mountain Mining Corporation (“Gold Mountain”) The Company formerly held 26,750,000 December 31, 2015 $95,892. December 31, 2015, $470,700 July 31, 2015 ( 2 The continuity of the Company’s investment in associate for the year ended December 31, 2015 2015 Balance, beginning of year $ 2,675,000 Company’s share of net loss (95,892 ) Impairment (470,700 ) Transfer to Almadex (2,108,408 ) Balance, end of year $ - |
Note 8 - Contingent Shares Rece
Note 8 - Contingent Shares Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of other provisions, contingent liabilities and contingent assets [text block] | 8. Contingent Shares Receivable (a) Gold Mountain Mining Corporation The Company formerly held contingent shares receivable in Gold Mountain. During the year ended December 31, 2015, $Nil July 31, 2015 ( 2 (b) Goldgroup Mining Inc. The Company formerly held contingent shares receivable in Goldgroup Mining Inc. During the year ended December 31, 2015, $22,500 July 31, 2015 ( 2 |
Note 9 - Deposit on Mill Equipm
Note 9 - Deposit on Mill Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [text block] | 9. Deposit on mill equipment On October 19, 2015, US$6,500,000, 407,997 $273,358 In order to exercise the Option, Almaden must make option payments according to the following schedule: Date Payment Status USD CAD October 21, 2015 Cash paid $ 250,000 $ 346,000 November 25, 2015 407,997 shares issued 273,358 December 29, 2015 Cash paid 250,000 346,000 December 31, 2015 965,358 March 17, 2016 Cash paid 250,000 324,600 Unrealized foreign exchange loss on deposit on mill equipment (9,575 ) December 31, 2016 $ 1,280,383 June 13, 2017 Cash paid 2,000,000 2,647,600 Mill Deposit 3,927,983 Mill Mobilization Deposit April 5, 2017 Cash paid $ 350,000 469,385 July 19, 2017 Cash paid $ 417,500 525,841 995,226 December 31, 2017 $ 4,923,209 In order to exercise the Option, Almaden must make a final option payment on or before June 15, 2018 $3,750,000 $4,704,375 not The Company has begun a mobilization plan to move the Rock Creek mill from Nome, Alaska to Mexico. A deposit of $995,226 $767,500 December 31, 2017 |
Note 10 - Property, Plant and E
Note 10 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of property, plant and equipment [text block] | 10. Property, plant and equipment Automotive Furniture Computer Computer Geological Field Mill Total $ $ $ $ $ $ $ $ Cost December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 - 995,754 Additions - 19,029 15,748 4,300 - 66,045 199,952 305,074 Disposals (36,529 ) - - - - - - (36,529 ) December 31, 2017 110,040 154,093 247,199 189,563 51,760 311,692 199,952 1,264,299 Accumulated depreciation December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 - 898,502 Disposals (34,769 ) - - - - - - (34,769 ) Depreciation 250 2,915 8,960 9,187 600 6,362 - 28,274 December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Carrying amounts December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 - 97,252 December 31, 2017 - 19,609 33,497 25,352 2,394 91,488 199,952 372,292 During the year ended December 31, 2017, $Nil $1,760. The Company has acquired containers to begin a mobilization plan to move the Rock Creek mill (Note 9 December 31, 2017, $199,952 Automotive Furniture Computer Computer Geological Field Total $ $ $ $ $ $ $ Cost December 31, 2015 174,462 135,064 218,166 176,010 51,760 245,647 1,001,109 Additions - - 13,285 9,253 - - 22,538 Disposals (27,893 ) - - - - - (27,893 ) December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 995,754 Accumulated depreciation December 31, 2015 167,604 130,695 198,221 144,943 48,018 205,890 895,371 Disposals (23,908 ) - - - - - (23,908 ) Depreciation 863 874 6,521 10,081 748 7,952 27,039 December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 898,502 Carrying amounts December 31, 2015 6,858 4,369 19,945 31,067 3,742 39,757 105,738 December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 97,252 During the year ended December 31, 2016, $Nil $3,985 |
Note 11 - Exploration and Evalu
Note 11 - Exploration and Evaluation Assets | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 11. Exploration and evaluation assets Tuligtic Other Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2016) 4,780,570 1 4,780,571 Additions 2,757,007 - 2,757,007 Closing balance - (December 31, 2017) 7,537,577 1 7,537,578 Deferred exploration costs: Opening balance - (December 31, 2016) 31,204,785 - 31,204,785 Costs incurred during the period Drilling and related costs 1,053,771 - 1,053,771 Professional/technical fees 112,191 - 112,191 Claim maintenance/lease costs 160,251 - 160,251 Geochemical, metallurgy 746,103 - 746,103 Technical studies 1,698,055 - 1,698,055 Travel and accommodation 390,927 - 390,927 Geology, geophysics and exploration 795,731 - 795,731 Supplies and misc. 118,015 - 118,015 Water exploration 7,981 - 7,981 Environmental 534,081 - 534,081 Value-added tax (Note 5) 444,729 - 444,729 Total deferred exploration costs during the period 6,061,835 - 6,061,835 Closing balance - (December 31, 2017) 37,266,620 - 37,266,620 Total exploration and evaluation assets 44,804,197 1 44,804,198 Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2015) 3,202,134 1 3,202,135 Additions 1,578,436 - 1,578,436 Closing balance - (December 31, 2016) 4,780,570 1 4,780,571 Deferred exploration costs: Opening balance - (December 31, 2015) 27,335,875 - 27,335,875 Costs incurred during the period Drilling and related costs 666,210 - 666,210 Professional/technical fees 139,916 - 139,916 Claim maintenance/lease costs 138,901 - 138,901 Geochemical, metallurgy 611,344 - 611,344 Technical studies 1,048,807 - 1,048,807 Travel and accommodation 273,178 - 273,178 Geology, geophysics and exploration 489,919 - 489,919 Supplies and misc. 31,636 - 31,636 Water exploration 97,232 - 97,232 Reclamation, environmental 123,625 - 123,625 Value-added tax (Note 5) 248,142 - 248,142 Total deferred exploration costs during the period 3,868,910 - 3,868,910 Closing balance - (December 31, 2016) 31,204,785 - 31,204,785 Total exploration and evaluation assets 35,985,355 1 35,985,356 During the year ended December 31, 2016, two 100% two $25,000,000 Dates Payments (MXN) CAD Payment Status November 28, 2016 $ 10,000,000 $ 651,200 Paid November 28, 2018 $ 15,000,000 $ 976,500 Outstanding Payments are not The following is a description of the Company’s most significant property interests and related spending commitments: (a) Tuligtic In 2001, 100% (b) Other Property The Company holds a 40% $1. |
Note 12 - Share Capital and Res
Note 12 - Share Capital and Reserves | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of share capital, reserves and other equity interest [text block] | 12. Share capital and reserves (a) Authorized share capital At December 31, 2017, not (b) Details of private placement and other issues of common shares in 2017, 2016 2015 On June 1, 2017, 9,857,800 $1.75 $17,251,150. one one one one $2.45 June 1, 2020. $1,035,069 295,734 $2.00 June 1, 2019. $171,526. $296,823 On February 7, 2017, 2,519,407 $1.35 $3,401,199. one one one one $2.00 August 7, 2019. $88,631 17,911 $1.35 August 7, 2019. $9,165. $116,408 (b) Details of private placement and other issues of common shares in 2017, 2016 2015 (continued) On May 25, 2016, 3,229,082 $1.35 $4,359,260. one one one one $2.00 November 25, 2018. $147,925 45,944 $1.44 November 25, 2018. $17,918. $119,689 On November 25, 2015, 407,997 $0.67 9 On November 17, 2015, 4,506,666 $0.75 $3,380,000. one one one one $1.00 November 17, 2017. $73,550 35,200 $0.77 November 17, 2017 $5,984. $43,075 $3,199,733 $180,267 On February 11, 2015, 4,420,000 $1.25 $5,525,000. one one one one $2.00 February 11, 2016. $212,626 49,410 $1.28 February 11, 2016 $13,341. $146,796 (c) Warrants The continuity of warrants for the years ended December 31, 2017, 2016 2015 Exercise Dec 31, December 31, Expiry date price 2016 Issued Exercised Expired 2017 November 17, 2017 $ 1.00 2,036,667 - (1,986,667 ) (50,000 ) - November 25, 2018 $ 2.00 1,614,541 - - - 1,614,541 November 25, 2018 $ 1.44 45,944 - (22,972 ) - 22,972 June 1, 2019 $ 2.00 - 295,734 - - 295,734 August 7, 2019 $ 2.00 - 1,259,704 - - 1,259,704 August 7, 2019 $ 1.35 - 17,911 (7,500 ) - 10,411 June 1, 2020 $ 2.45 - 4,928,900 - - 4,928,900 Warrants outstanding and exercisable 3,697,152 6,502,249 (2,017,139 ) (50,000 ) 8,132,262 Weighted average exercise price $ 1.44 $ 2.34 $ 1.01 $ 1.00 $ 2.27 The weighted average remaining life of warrants outstanding at December 31, 2017 1.95 2016 1.34 Exercise December 31, Expired/ December 31, Expiry date price 2015 Issued Exercised cancelled 2016 February 11, 2016 $ 1.76 2,210,000 - - (2,210,000 ) - February 11, 2016 $ 1.12 49,410 - - (49,410 ) - July 17, 2016 $ 1.58 4,376,000 - (4,376,000 ) - - July 17, 2016 $ 1.32 186,000 - - (186,000 ) - November 17, 2017 $ 1.00 2,253,334 - (216,667 ) - 2,036,667 November 17, 2017 $ 0.77 35,200 - (35,200 ) - - November 25, 2018 $ 2.00 - 1,614,541 - - 1,614,541 November 25, 2018 $ 1.44 - 45,944 - - 45,944 Warrants outstanding and exercisable 9,109,944 1,660,485 (4,627,867 ) (2,445,410 ) 3,697,152 Weighted average exercise price $ 1.47 $ 1.98 $ 1.55 $ 1.71 $ 1.44 Exercise December 31, Expired/ December 31, Expiry date price 2014 Issued Exercised cancelled 2015 August 1, 2015 $ 1.50 48,000 - - (48,000 ) - August 1, 2015 $ 2.00 2,000,000 - - (2,000,000 ) - July 17, 2016 * $ 1.58 4,376,000 - - - 4,376,000 July 17, 2016 * $ 1.32 186,000 - - - 186,000 February 11, 2016 * $ 1.76 - 2,210,000 - - 2,210,000 February 11, 2016 * $ 1.12 - 49,410 - - 49,410 November 17, 2017 $ 1.00 - 2,253,334 - - 2,253,334 November 17, 2017 $ 0.77 - 35,200 - - 35,200 Warrants outstanding and exercisable 6,610,000 4,547,944 - (2,048,000 ) 9,109,944 Weighted average exercise price $ 1.70 $ 1.37 - $ 1.99 $ 1.47 * August 28, 2015, The weighted average fair value of finders’ warrants granted during the years ended December 31, 2017, 2016 2015 Weighted average assumptions used Number Date of issue Fair value Risk free Expected Expected Expected 295,734 June 1, 2017 $ 0.58 0.71 % 2 66.26 % $Nil 17,911 February 7, 2017 $ 0.51 0.72 % 2.50 61.54 % $Nil 45,944 May 25, 2016 $ 0.39 0.59 % 2 55.53 % $Nil 35,200 November 17, 2015 $ 0.17 0.38 % 2 47.77 % $Nil 49,410 February 11, 2015 $ 0.27 0.56 % 1 40.83 % $Nil (d) Share purchase option compensation plan The Company’s stock option plan permits the issuance of options up to a maximum of 10% 2% twelve December 31, 2017, 929,963 may five The maximum term of all options is five five may no 25% three December 31, 2017, 2016 2015 The Company’s stock option plan permits the option holder to exercise cashless by surrendering a portion of the underlying option shares to pay for the exercise price and the corresponding withholding taxes, if applicable. The continuity of stock options for the year ended December 31, 2017, 2016 2015 Expiry date Exercise Dec 31, Granted Exercised Expired December 31, January 6, 2017 $ 0.98 1,180,000 - (1,180,000 ) (i) - - May 4, 2017 $ 1.91 175,000 - (75,000 ) (100,000 ) - June 8, 2017 $ 1.98 75,000 - - (75,000 ) - August 26, 2017 $ 0.74 1,310,000 - (1,310,000 ) (i) - - September 11, 2017 $ 2.31 500,000 - - (500,000 ) - November 22, 2017 $ 2.22 100,000 - - (100,000 ) - April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 100,000 - - - 100,000 June 8, 2018 $ 1.44 1,915,000 - - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 15,000 - - - 15,000 August 9, 2018 $ 1.91 491,000 - - - 491,000 September 15, 2018 $ 1.85 170,000 - - - 170,000 December 11, 2018 $ 0.72 724,000 - (134,000 ) (i) - 590,000 December 11, 2018 $ 1.68 150,000 - - - 150,000 December 11, 2018 $ 1.80 20,000 - - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 - 207,000 - - 207,000 May 4, 2019 $ 1.99 - 175,000 - - 175,000 May 19, 2019 $ 1.84 - 75,000 - - 75,000 June 12, 2019 $ 1.89 - 75,000 - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 - 1,427,000 - - 1,427,000 September 19, 2019 $ 1.40 - 1,160,000 - - 1,160,000 April 30, 2020 $ 1.53 - 500,000 - - 500,000 April 30, 2020 $ 1.14 - 100,000 - - 100,000 September 30, 2020 $ 1.25 - 1,195,000 - - 1,195,000 Options outstanding and exercisable 7,850,000 4,914,000 (2,699,000 ) (775,000 ) 9,290,000 Weighted average exercise price $ 1.29 $ 1.39 $ 0.88 $ 2.21 $ 1.39 (i) In accordance with the Company’s stock option plan, options holders exercised 350,000; 1,150,000 92,000 $0.98, $0.74 $0.72 532,836. The weighted average remaining life of stock options outstanding at December 31, 2017 1.33 2016 1.13 Expiry date Exercise Dec 31, Granted Exercised Expired / Dec 31, May 6, 2016 * $ 1.33 65,000 - - (65,000 ) - June 8, 2016 * $ 2.89 2,145,000 - - (2,145,000 ) - July 14, 2016 * $ 1.37 130,000 - (120,000 ) (i) (10,000 ) - August 15, 2016 * $ 2.57 150,000 - - (150,000 ) - October 10, 2016 * $ 1.23 150,000 - (150,000 ) (i) - - January 6, 2017 * $ 0.98 1,180,000 - - - 1,180,000 May 4, 2017 * $ 1.91 200,000 - - (25,000 ) 175,000 June 8, 2017 * $ 1.98 75,000 - - - 75,000 August 26, 2017 * $ 0.74 1,445,000 - (135,000 ) - 1,310,000 September 11, 2017 * $ 2.31 500,000 - - - 500,000 November 22, 2017 * $ 2.22 100,000 - - - 100,000 April 4, 2018 * $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 - 100,000 - - 100,000 June 8, 2018 $ 1.44 - 1,915,000 - - 1,915,000 June 18, 2018 * $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 - 15,000 - - 15,000 August 9, 2018 $ 1.91 - 491,000 - - 491,000 September 15, 2018 $ 1.85 - 170,000 - - 170,000 December 11, 2018 $ 0.72 756,000 - (32,000 ) - 724,000 December 11, 2018 $ 1.68 - 150,000 - - 150,000 December 11, 2018 $ 1.80 - 20,000 - - 20,000 January 2, 2019 * $ 1.04 375,000 - - - 375,000 July 2, 2019 * $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 - 60,000 - - 60,000 Options outstanding and exercisable 7,761,000 2,921,000 (437,000 ) (2,395,000 ) 7,850,000 Weighted average exercise price $ 1.65 $ 1.55 $ 1.08 $ 2.81 $ 1.29 (i) In accordance with the Company’s stock option plan, options holders exercised 105,000 150,000 $1.37 $1.23. 63,510. Expiry date Exercise December 31, Granted Exercised Expired / December 31, January 4, 2015 $ 1.14 970,000 - - (970,000 ) - February 22, 2015 $ 2.26 20,000 - - (20,000 ) - April 25, 2015 $ 1.67 25,000 - - (25,000 ) - June 21, 2015 $ 1.00 140,000 - - (140,000 ) - July 16, 2015 $ 0.92 200,000 - - (200,000 ) - August 27, 2015 $ 2.22 205,000 - - (205,000 ) - September 20, 2015 * $ 2.34 100,000 - - (100,000 ) - November 22, 2015 * $ 2.40 75,000 - - (75,000 ) - May 6, 2016 * $ 1.33 65,000 - - - 65,000 June 8, 2016 * $ 2.89 2,270,000 - - (125,000 ) 2,145,000 July 14, 2016 * $ 1.37 150,000 - - (20,000 ) 130,000 August 15, 2016 * $ 2.57 150,000 - - - 150,000 October 10, 2016 * $ 1.23 150,000 - - - 150,000 January 6, 2017 * $ 0.98 - 1,180,000 - - 1,180,000 May 4, 2017 * $ 1.91 225,000 - - (25,000 ) 200,000 June 8, 2017 * $ 1.98 75,000 - - - 75,000 August 26, 2017 * $ 0.74 - 1,445,000 - - 1,445,000 September 11, 2017 * $ 2.31 500,000 - - - 500,000 November 22, 2017 * $ 2.22 100,000 - - - 100,000 April 4, 2018 * $ 1.74 90,000 - - - 90,000 June 18, 2018 * $ 1.46 250,000 - - - 250,000 December 11, 2018 $ 0.72 - 756,000 - - 756,000 January 2, 2019 * $ 1.04 375,000 - - - 375,000 July 2, 2019 * $ 1.32 150,000 - - - 150,000 Options outstanding and exercisable 6,285,000 3,381,000 - (1,905,000 ) 7,761,000 Weighted average exercise price $ 2.05 $ 0.82 - $ 1.48 $ 1.65 * On August 20, 2015, December 31, 2014 $2.29 $2.05. The weighted average fair value of options granted during the years ended December 31, 2017, 2016 2015, Weighted average assumptions used Number Date of grant Fair value Risk free Expected Expected Expected 1,195,000 December 22, 2017 $ 0.62 1.71 % 3 65.20 % $Nil 100,000 November 23, 2017 $ 0.50 1.46 % 3 63.93 % $Nil 500,000 September 12, 2017 $ 0.55 1.59 % 2.5 63.12 % $Nil 1,160,000 August 25, 2017 $ 0.48 1.24 % 2 62.80 % $Nil 75,000 June 12, 2017 $ 0.63 0.88 % 2 65.95 % $Nil 75,000 May 19, 2017 $ 0.60 0.72 % 2 65.65 % $Nil 175,000 May 4, 2017 $ 0.63 0.71 % 2 65.77 % $Nil 207,000 March 17, 2017 $ 0.47 0.80 % 2 61.28 % $Nil 1,427,000 January 11, 2017 $ 0.54 0.75 % 2 68.94 % $Nil 60,000 December 21, 2016 $ 0.42 0.83 % 2 70.18 % $Nil 20,000 November 2, 2016 $ 0.69 0.54 % 2 68.31 % $Nil 150,000 October 6, 2016 $ 0.57 0.60 % 2 68.47 % $Nil 170,000 September 15, 2016 $ 0.70 0.58 % 2 68.08 % $Nil 491,000 August 9, 2016 $ 0.76 0.50 % 2 67.52 % $Nil 15,000 June 29, 2016 $ 0.87 0.54 % 2 66.44 % $Nil 1,915,000 June 8, 2016 $ 0.62 0.54 % 2 64.68 % $Nil 100,000 May 6, 2016 $ 0.52 0.54 % 2 63.84 % $Nil 756,000 December 11, 2015 $ 0.29 0.40 % 3 55.79 % $Nil 1,445,000 August 26, 2015 $ 0.20 0.53 % 2 58.76 % $Nil 1,180,000 January 6, 2015 $ 0.37 0.56 % 2 52.37 % $Nil Total share-based payments expenses as a result of options granted and vested during the year ended December 31, 2017 2,693,070 2016 $1,869,010; 2015 $950,740 |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of transactions between related parties [text block] | 13. Related party transactions and balances (a) Compensation of key management personnel Key management includes members of the Board, the President and Chief Executive Officer, the Chief Financial Officer and the Vice President, Corporate Development. The net aggregate compensation paid or payable to key management for services after recovery from Almadex (Note 13 December 31, December 31, December 31, 2017 2016 2015 Salaries and benefits $ 813,400 $ 755,475 $ 740,208 (i) Share-based payments 2,216,170 1,537,060 725,165 Directors’ fees 70,000 41,000 48,000 $ 3,099,570 $ 2,333,535 $ 1,513,373 (i) For the year ended December 31, 2015, $193,333 December 31, 2015. January 1, 2016, (b) Almadex Minerals Ltd (“Almadex”) Effective August 1, 2015, 30% During the year ended December 31, 2017, $499,798 2016 $464,498; 2015 $181,405 At December 31, 2017, $153,038 2016 $63,429 At December 31, 2017, $195,551 2016 $149,429 (c) Other related party transactions During the year ended December 31, 2017, $Nil 2016 $Nil; 2015 $1,200 During the year ended December 31, 2017, $43,800 2016 $38,800; 2015 $43,225 |
Note 14 - Income on Exploration
Note 14 - Income on Exploration and Evaluation Assets | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of income on exploration and evaluation assets [text block] | 14. Income on Exploration and Evaluation Assets Income on exploration and evaluation assets is comprised of the following: Year ended December 31, 2017 2016 2015 $ 0 $ 0 $ 32,920 $ 0 $ 0 $ 32,920 During the year ended December 31, 2015, 2014 |
Note 15 - Net Loss Per Share
Note 15 - Net Loss Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of earnings per share [text block] | 15. Net loss per share Basic and diluted net loss per share The calculation of basic net loss per share for the year ended December 31, 2017 $5,231,295 2016 $4,023,504; 2015 $1,144,525 95,873,417 2016 82,322,754, 2015 73,248,803 The calculation of diluted net loss per share for the year ended December 31, 2017, 2016 2015 not |
Note 16 - Supplemental Cash Flo
Note 16 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of supplemental cash flow information [text block] | 16. Supplemental cash flow information Supplemental information regarding non-cash transactions is as follows: Investing and financing activities December 31, December 31, December 31, Exploration and evaluation assets expenditures included in trade and other payables $ 493,943 $ 535,254 $ 265,393 Contribution from spin-out assets; recognition of Exploration and evaluation cost reclassified from share capital - - 184,169 Residual value of warrants classified to reserves from share capital - - 180,267 Fair value of finders’ warrants 180,691 17,918 19,325 Fair value of shares issued pursuant to mill option agreement - - 273,358 Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants 12,797 5,984 - Fair value of cash stock options transferred to share capital on exercise of options 496,859 43,180 - Fair value of cashless stock options transferred to share capital on exercise of options 387,930 108,300 - Supplemental information regarding the split between cash and cash equivalents is as follows: December 31, December 31, Cash $ 1,449,184 $ 1,427,306 Term Deposits 14,885,350 8,342,700 $ 16,334,534 $ 9,770,006 |
Note 17 - Income Taxes
Note 17 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of income tax [text block] | 17. Income Taxes (a) The provision for income taxes differs from the amounts computed by applying the Canadian statutory rates to the net loss before income taxes due to the following: December 31, December 31, December 31, Loss before income taxes $ (5,231,295 ) $ (4,023,504 ) $ (1,549,125 ) Statutory rate 26.00 % 26.00 % 26.00 % Expected income tax (1,360,137 ) (1,046,111 ) (402,773 ) Effect of different tax rates in foreign jurisdictions 9,728 343 (8,855 ) Non-deductible share-based payments 700,198 485,943 247,192 Other permanent items 3,360 2,022 213,166 Change in deferred tax assets not recognized 1,921,226 3,518,776 (574,942 ) Impact of change in tax rates (348,020 ) - - Impact of change in expected manner of recovery - 853,274 (306,411 ) Share issuance costs (399,602 ) (39,241 ) (21,723 ) True-ups and other (526,753 ) (3,775,006 ) 449,746 Deferred income tax (recovery) expenses $ - $ - $ (404,600 ) In September 2017, 11% 12% January 1, 2018 October 26, 2017. 26% 27%. (b) The Company’s deferred income tax recovery and deferred income tax liability relates to the Mexican income tax and Special Mining Duty (“SMD”) associated with the Tuligtic project. As a consequence of the Company’s spin-out (Note 2 The significant components of deferral income taxes assets (liabilities) are as follows: December 31, December 31, Deferred tax assets Non-capital losses $ 4,282,555 $ 4,570,832 Deferred tax liabilities Exploration and evaluation assets (5,717,437 ) (6,005,714 ) Net deferred tax liabilities $ (1,434,882 ) $ (1,434,882 ) (c) Deductible temporary differences, unused tax losses and unused tax credits for which no December 31, December 31, Non-capital loss carry forwards $ 17,803,193 $ 13,238,619 Capital loss carry forwards 24,538,993 24,538,993 Exploration and evaluation assets 8,221,842 8,221,842 Share issue costs 1,778,234 548,690 Property, plant and equipment 10,127 33,492 Cumulative eligible capital deduction 507,429 545,623 Investment tax credit 239,849 239,849 $ 53,099,667 $ 47,367,108 At December 31, 2017, $15,706,045 2016 $13,184,889 2032 2037 $16,378,174 2016 $15,415,208 2022 2027. |
Note 18 - Commitments
Note 18 - Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of commitments [text block] | 18. Commitments The Company has entered into a new operating lease for office premises effective April 1, 2017 March 31, 2022. As at December 31, 2017, 2018 2019 2020 2021 2022 Total Office lease $ 148,410 $ 150,884 $ 154,182 $ 155,006 $ 38,752 $ 647,234 Executive contracts 575,000 240,000 240,000 240,000 - 1,295,000 $ 723,410 $ 390,884 $ 394,182 $ 395,006 $ 38,752 $ 1,942,234 |
Note 19 - Financial Instruments
Note 19 - Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of financial instruments [text block] | 19. Financial instruments The fair values of the Company’s cash and cash equivalents, accounts receivable and trade and other payables approximate their carrying values because of the short-term nature of these instruments. Refer to Note 4 The Company’s financial instruments are exposed to certain financial risks, including currency risk, credit risk, liquidity risk, interest rate risk and commodity and equity price risk. (a) Currency risk The Company’s property interests in Mexico make it subject to foreign currency fluctuations and inflationary pressures which may not As at December 31, 2017, All amounts in Canadian dollars US dollar Mexican peso Cash and cash equivalents $ 3,578,279 $ 97,264 Accounts receivable and prepaid expenses 4,019 - Total assets $ 3,582,298 $ 97,264 Trade and other payables $ 183,904 $ 194,083 Total liabilities $ 183,904 $ 194,083 Net assets $ 3,398,394 $ (96,819 ) A 10% $340,000. A 10% $10,000. (b) Credit risk The Company’s cash and cash equivalents are held in large Canadian financial institutions, located in both Canada and Mexico. Cash equivalents mature at various dates during the twelve To mitigate exposure to credit risk on cash and cash equivalents, the Company has established policies to limit the concentration of credit risk with any given banking institution where the funds are held, to ensure counterparties demonstrate minimum acceptable credit risk worthiness and ensure liquidity of available funds. As at December 31, 2017, (c) Liquidity risk Liquidity risk is the risk that the Company will not Trade and other payables are due within twelve (d) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to varying interest rates on cash and cash equivalents. The Company has no A 1% $149,000. (e) Commodity and equity price risk The ability of the Company to explore its exploration and evaluation assets and the future profitability of the Company are directly related to the market price of gold and other precious metals. The Company monitors gold prices to determine the appropriate course of action to be taken by the Company. Equity price risk is defined as the potential adverse impact on the Company’s performance due to movements in individual equity prices or general movements in the level of the stock market. |
Note 20 - Management of Capital
Note 20 - Management of Capital | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of objectives, policies and processes for managing capital [text block] | 20. Management of capital The Company considers its capital to consist of components of equity. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the exploration of its exploration and evaluation assets and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may In order to maximize ongoing exploration efforts, the Company does not The Company expects its current capital resources will be sufficient to carry its exploration plans and operations for the foreseeable future. There were no |
Note 21 - Segmented Information
Note 21 - Segmented Information | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of operating segments [text block] | 21. Segmented information The Company operates in one The Company’s non-current assets are located in the following geographic locations: December 31, December 31, Canada $ 366,450 $ 89,950 United States 4,923,209 1,280,383 Mexico 44,810,040 35,992,658 $ 50,099,699 $ 37,362,991 |
Note 22 - Subsequent Events
Note 22 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of events after reporting period [text block] | 22. Subsequent events On February 7, 2018, 300,000 $1.11 February 7, 2021. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Discloure of Significant Accounting Policies | |
Description of accounting policy for basis of consolidation [text block] | ( a) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as follows: Jurisdiction Nature of operations Puebla Holdings Inc. Canada holding company Minera Gorrion, S.A. de C.V. Mexico exploration company (i) Almaden America Inc. USA exploration company (i) Republic Resources Ltd. Canada service company (i) Ixtaca Precious Metals Inc. Canada holding company (i) Pangeon Holdings Ltd. Canada holding company (i) Almaden de Mexico, S.A. de C.V. Mexico exploration company (i) Minera Gavilan, S.A. de C.V. Mexico exploration company (i) Compania Minera Zapata, S.A. de C.V. Mexico exploration company (i) Minera Alondra, S.A. de C.V. Mexico holding company (i) Included in consolidation until July 31, 2015 2 Investments where the Company has the ability to exercise significant influence are accounted for using the equity method. Under this method, the Company’s share of the investee’s profit or loss is included in profit or loss and its investments therein are adjusted by a like amount. Dividends received from these investments are credited to the investment. The Company’s former 38.8% Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing these consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Company’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no |
Description of accounting policy for foreign currency translation [text block] | (b) Foreign currencies Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction dates. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are not |
Description of accounting policy for financial instruments [text block] | (c) Financial instruments Financial assets The Company classifies its financial assets into one Fair value through profit or loss - Loans and receivables - not Held-to-maturity investments Available-for-sale not All financial assets except for those at fair value through profit or loss are subject to review for impairment at least at each reporting date. Financial assets are impaired when there is any objective evidence that a financial asset or a group of financial assets is impaired. Different criteria to determine impairment are applied for each category of financial assets, which are described above. Financial liabilities The Company classifies its financial liabilities into one two Fair value through profit or loss Other financial liabilities |
Description of accounting policy for determining components of cash and cash equivalents [text block] | (d) Cash and cash equivalents Cash equivalents include money market instruments which are readily convertible into cash or have maturities at the date of purchase of less than ninety |
Description of accounting policy for property, plant and equipment [text block] | (e) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses, and are depreciated annually on a declining-balance basis if available for use at the following rates: Automotive equipment 30 % Furniture, fixtures and other 20 % Computer hardware and software 30 % Geological library 20 % Field equipment 20 % Mill equipment 7 % |
Description of accounting policy for exploration and evaluation expenditures [text block] | (f) Exploration and evaluation assets The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of mineral claims to which the Company has rights and crediting all proceeds received from farm-out arrangements or recovery of costs against the cost of the related claims. Acquisition costs include, but are not not The Company considers the following facts and circumstances in determining if it should test exploration and evaluation assets for impairment: (i) the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not (ii) substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned; (iii) exploration for and evaluation of mineral resources in the specific area have not (iv) sufficient data exists to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation assets is unlikely to be recovered in full from successful development or by sale. An impairment charge may not no not The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in profit or loss costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area of interest are first All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditure is not |
Description of accounting policy for impairment of assets [text block] | (g) Impairment of property, plant and equipment Property, plant and equipment are reviewed for impairment at least annually, or if there is any indication that the carrying amount may not not An asset’s recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not If the recoverable amount of an asset or cash generating unit is estimated to be less than its carrying amount, the carrying amount is reduced to the recoverable amount by way of recording an impairment charge to profit or loss. Where an impairment subsequently reverses, the carrying amount is increased to the revised estimate of recoverable amount but only to the extent that this does not no |
Description of accounting policy for income tax [text block] | (h) Income taxes Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not not not not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no |
Description of accounting policy for share-based payment transactions [text block] | (i) Share-based payments The Company’s stock option plan allows Company employees, directors, officers and consultants to acquire shares of the Company. The fair value of options granted is recognized as share-based payment expense with a corresponding increase in equity reserves. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee . Fair value is measured at grant date, and each tranche is recognized using the graded vesting method over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model, taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of stock options that are expected to vest. In situations where equity instruments are issued to consultants and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at the fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of goods or services received. |
Description of accounting policy for capital shares [text block] | (j) Share capital Proceeds from the exercise of stock options and warrants are recorded as share capital in the amount for which the option or warrant enabled the holder to purchase a share in the Company, in addition to the proportionate amount of reserves originally created at the issuance of the stock options or warrants. Share capital issued for non-monetary consideration is valued at the closing market price at the date of issuance. The proceeds from the issuance of units are allocated between common shares and common share purchase warrants based on the residual value method. Under this method, the proceeds are allocated to common shares based on the fair value of a common share at the announcement date of the unit offering and any residual remaining is allocated to common share purchase warrants. |
Description of accounting policy for reclamation and closure cost obligations [text block] | (k) Reclamation and closure cost obligations Decommissioning and restoration provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation and discount rates. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows discounted for the market discount rate. Over time the discounted liability is increased for the changes in the present value based on the current market discount rates and liability risks. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third When the Company enters into an option agreement on its exploration and evaluations assets, as part of the option agreement, responsibility for any reclamation and remediation becomes the responsibility of the optionee. |
Description of accounting policy for earnings per share [text block] | (l) Net loss per share The Company presents the basic and diluted net loss per share data for its common shares, calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted net loss per share is determined by adjusting the net loss attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares (Note 15 |
Description of accounting policy for new and revised accounting standards effective at the begging of the year [text block] | (m) Application of new and revised accounting standards effective January 1, 2017 The following new accounting standards and amendments which the Company adopted and are effective for the Company's interim and annual consolidated financial statements commencing January 1, 2017: IFRS 7: 39 9. |
Description of accounting policy for new accounting standards [text block] | (n) Future accounting standards Certain pronouncements were issued by the IASB or IFRIC but are not December 31, 2017. not not The following are the accounting standards issued but not Revenue recognition IFRS 15 May 2014, 15 15" 11 18 13 15 18 31 15 five January 1, 2018, no Financial instruments IFRS 9 July 2014, 9 9" 39 9 9 January 1, 2018, not Leases IFRS 16 January 2016, 16 16" 17 16 16 January 1, 2019, 15. |
Note 2 - Plan of Arrangement (T
Note 2 - Plan of Arrangement (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of net assets transferred, spin-out arrangements [text block] | Assets: Accounts receivable and prepaid expenses $ 142,731 Marketable securities (1) 357,672 Inventory 274,768 Investment in associate 2,108,408 Reclamation deposit 30,235 Contingent shares receivable 47,100 Property, plant and equipment 622,971 Exploration and evaluation assets 2,128,240 Total assets 5,712,125 Liabilities: Trade and other payables (49,748 ) Carrying value of net assets 5,662,377 Fair value of net assets distributed 8,777,799 Gain on transfer of spin-out assets $ 3,115,422 |
Note 4 - Significant Accounti31
Note 4 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of property, plant and equipment depreciation rate [text block] | Automotive equipment 30 % Furniture, fixtures and other 20 % Computer hardware and software 30 % Geological library 20 % Field equipment 20 % Mill equipment 7 % |
Note 5 - Accounts Receivable 32
Note 5 - Accounts Receivable and Prepaid Expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of accounts receivable and prepaid expense [text block] | December 31, December 31, 2017 2016 Accounts receivable (Note 13(b)) $ 243,971 $ 248,379 Prepaid expenses 124,992 132,519 $ 368,963 $ 380,898 |
Note 7 - Investment in Associ33
Note 7 - Investment in Associate (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about investment property [text block] | 2015 Balance, beginning of year $ 2,675,000 Company’s share of net loss (95,892 ) Impairment (470,700 ) Transfer to Almadex (2,108,408 ) Balance, end of year $ - |
Note 9 - Deposit on Mill Equi34
Note 9 - Deposit on Mill Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of option payments [text block] | Date Payment Status USD CAD October 21, 2015 Cash paid $ 250,000 $ 346,000 November 25, 2015 407,997 shares issued 273,358 December 29, 2015 Cash paid 250,000 346,000 December 31, 2015 965,358 March 17, 2016 Cash paid 250,000 324,600 Unrealized foreign exchange loss on deposit on mill equipment (9,575 ) December 31, 2016 $ 1,280,383 June 13, 2017 Cash paid 2,000,000 2,647,600 Mill Deposit 3,927,983 Mill Mobilization Deposit April 5, 2017 Cash paid $ 350,000 469,385 July 19, 2017 Cash paid $ 417,500 525,841 995,226 December 31, 2017 $ 4,923,209 |
Note 10 - Property, Plant and35
Note 10 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about property, plant and equipment [text block] | Automotive Furniture Computer Computer Geological Field Mill Total $ $ $ $ $ $ $ $ Cost December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 - 995,754 Additions - 19,029 15,748 4,300 - 66,045 199,952 305,074 Disposals (36,529 ) - - - - - - (36,529 ) December 31, 2017 110,040 154,093 247,199 189,563 51,760 311,692 199,952 1,264,299 Accumulated depreciation December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 - 898,502 Disposals (34,769 ) - - - - - - (34,769 ) Depreciation 250 2,915 8,960 9,187 600 6,362 - 28,274 December 31, 2017 110,040 134,484 213,702 164,211 49,366 220,204 - 892,007 Carrying amounts December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 - 97,252 December 31, 2017 - 19,609 33,497 25,352 2,394 91,488 199,952 372,292 Automotive Furniture Computer Computer Geological Field Total $ $ $ $ $ $ $ Cost December 31, 2015 174,462 135,064 218,166 176,010 51,760 245,647 1,001,109 Additions - - 13,285 9,253 - - 22,538 Disposals (27,893 ) - - - - - (27,893 ) December 31, 2016 146,569 135,064 231,451 185,263 51,760 245,647 995,754 Accumulated depreciation December 31, 2015 167,604 130,695 198,221 144,943 48,018 205,890 895,371 Disposals (23,908 ) - - - - - (23,908 ) Depreciation 863 874 6,521 10,081 748 7,952 27,039 December 31, 2016 144,559 131,569 204,742 155,024 48,766 213,842 898,502 Carrying amounts December 31, 2015 6,858 4,369 19,945 31,067 3,742 39,757 105,738 December 31, 2016 2,010 3,495 26,709 30,239 2,994 31,805 97,252 |
Note 11 - Exploration and Eva36
Note 11 - Exploration and Evaluation Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation asset [text block] | Tuligtic Other Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2016) 4,780,570 1 4,780,571 Additions 2,757,007 - 2,757,007 Closing balance - (December 31, 2017) 7,537,577 1 7,537,578 Deferred exploration costs: Opening balance - (December 31, 2016) 31,204,785 - 31,204,785 Costs incurred during the period Drilling and related costs 1,053,771 - 1,053,771 Professional/technical fees 112,191 - 112,191 Claim maintenance/lease costs 160,251 - 160,251 Geochemical, metallurgy 746,103 - 746,103 Technical studies 1,698,055 - 1,698,055 Travel and accommodation 390,927 - 390,927 Geology, geophysics and exploration 795,731 - 795,731 Supplies and misc. 118,015 - 118,015 Water exploration 7,981 - 7,981 Environmental 534,081 - 534,081 Value-added tax (Note 5) 444,729 - 444,729 Total deferred exploration costs during the period 6,061,835 - 6,061,835 Closing balance - (December 31, 2017) 37,266,620 - 37,266,620 Total exploration and evaluation assets 44,804,197 1 44,804,198 Tuligtic Other Property Total Exploration and evaluation assets $ $ $ Acquisition costs: Opening balance - (December 31, 2015) 3,202,134 1 3,202,135 Additions 1,578,436 - 1,578,436 Closing balance - (December 31, 2016) 4,780,570 1 4,780,571 Deferred exploration costs: Opening balance - (December 31, 2015) 27,335,875 - 27,335,875 Costs incurred during the period Drilling and related costs 666,210 - 666,210 Professional/technical fees 139,916 - 139,916 Claim maintenance/lease costs 138,901 - 138,901 Geochemical, metallurgy 611,344 - 611,344 Technical studies 1,048,807 - 1,048,807 Travel and accommodation 273,178 - 273,178 Geology, geophysics and exploration 489,919 - 489,919 Supplies and misc. 31,636 - 31,636 Water exploration 97,232 - 97,232 Reclamation, environmental 123,625 - 123,625 Value-added tax (Note 5) 248,142 - 248,142 Total deferred exploration costs during the period 3,868,910 - 3,868,910 Closing balance - (December 31, 2016) 31,204,785 - 31,204,785 Total exploration and evaluation assets 35,985,355 1 35,985,356 Dates Payments (MXN) CAD Payment Status November 28, 2016 $ 10,000,000 $ 651,200 Paid November 28, 2018 $ 15,000,000 $ 976,500 Outstanding |
Note 12 - Share Capital and R37
Note 12 - Share Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of number and weighted average exercise prices of other equity instruments [text block] | Exercise Dec 31, December 31, Expiry date price 2016 Issued Exercised Expired 2017 November 17, 2017 $ 1.00 2,036,667 - (1,986,667 ) (50,000 ) - November 25, 2018 $ 2.00 1,614,541 - - - 1,614,541 November 25, 2018 $ 1.44 45,944 - (22,972 ) - 22,972 June 1, 2019 $ 2.00 - 295,734 - - 295,734 August 7, 2019 $ 2.00 - 1,259,704 - - 1,259,704 August 7, 2019 $ 1.35 - 17,911 (7,500 ) - 10,411 June 1, 2020 $ 2.45 - 4,928,900 - - 4,928,900 Warrants outstanding and exercisable 3,697,152 6,502,249 (2,017,139 ) (50,000 ) 8,132,262 Weighted average exercise price $ 1.44 $ 2.34 $ 1.01 $ 1.00 $ 2.27 Exercise December 31, Expired/ December 31, Expiry date price 2015 Issued Exercised cancelled 2016 February 11, 2016 $ 1.76 2,210,000 - - (2,210,000 ) - February 11, 2016 $ 1.12 49,410 - - (49,410 ) - July 17, 2016 $ 1.58 4,376,000 - (4,376,000 ) - - July 17, 2016 $ 1.32 186,000 - - (186,000 ) - November 17, 2017 $ 1.00 2,253,334 - (216,667 ) - 2,036,667 November 17, 2017 $ 0.77 35,200 - (35,200 ) - - November 25, 2018 $ 2.00 - 1,614,541 - - 1,614,541 November 25, 2018 $ 1.44 - 45,944 - - 45,944 Warrants outstanding and exercisable 9,109,944 1,660,485 (4,627,867 ) (2,445,410 ) 3,697,152 Weighted average exercise price $ 1.47 $ 1.98 $ 1.55 $ 1.71 $ 1.44 Exercise December 31, Expired/ December 31, Expiry date price 2014 Issued Exercised cancelled 2015 August 1, 2015 $ 1.50 48,000 - - (48,000 ) - August 1, 2015 $ 2.00 2,000,000 - - (2,000,000 ) - July 17, 2016 * $ 1.58 4,376,000 - - - 4,376,000 July 17, 2016 * $ 1.32 186,000 - - - 186,000 February 11, 2016 * $ 1.76 - 2,210,000 - - 2,210,000 February 11, 2016 * $ 1.12 - 49,410 - - 49,410 November 17, 2017 $ 1.00 - 2,253,334 - - 2,253,334 November 17, 2017 $ 0.77 - 35,200 - - 35,200 Warrants outstanding and exercisable 6,610,000 4,547,944 - (2,048,000 ) 9,109,944 Weighted average exercise price $ 1.70 $ 1.37 - $ 1.99 $ 1.47 |
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block] | Number Date of issue Fair value Risk free Expected Expected Expected 295,734 June 1, 2017 $ 0.58 0.71 % 2 66.26 % $Nil 17,911 February 7, 2017 $ 0.51 0.72 % 2.50 61.54 % $Nil 45,944 May 25, 2016 $ 0.39 0.59 % 2 55.53 % $Nil 35,200 November 17, 2015 $ 0.17 0.38 % 2 47.77 % $Nil 49,410 February 11, 2015 $ 0.27 0.56 % 1 40.83 % $Nil |
Disclosure of number and weighted average exercise prices of share options [text block] | Expiry date Exercise Dec 31, Granted Exercised Expired December 31, January 6, 2017 $ 0.98 1,180,000 - (1,180,000 ) (i) - - May 4, 2017 $ 1.91 175,000 - (75,000 ) (100,000 ) - June 8, 2017 $ 1.98 75,000 - - (75,000 ) - August 26, 2017 $ 0.74 1,310,000 - (1,310,000 ) (i) - - September 11, 2017 $ 2.31 500,000 - - (500,000 ) - November 22, 2017 $ 2.22 100,000 - - (100,000 ) - April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 100,000 - - - 100,000 June 8, 2018 $ 1.44 1,915,000 - - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 15,000 - - - 15,000 August 9, 2018 $ 1.91 491,000 - - - 491,000 September 15, 2018 $ 1.85 170,000 - - - 170,000 December 11, 2018 $ 0.72 724,000 - (134,000 ) (i) - 590,000 December 11, 2018 $ 1.68 150,000 - - - 150,000 December 11, 2018 $ 1.80 20,000 - - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 - 207,000 - - 207,000 May 4, 2019 $ 1.99 - 175,000 - - 175,000 May 19, 2019 $ 1.84 - 75,000 - - 75,000 June 12, 2019 $ 1.89 - 75,000 - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 - 1,427,000 - - 1,427,000 September 19, 2019 $ 1.40 - 1,160,000 - - 1,160,000 April 30, 2020 $ 1.53 - 500,000 - - 500,000 April 30, 2020 $ 1.14 - 100,000 - - 100,000 September 30, 2020 $ 1.25 - 1,195,000 - - 1,195,000 Options outstanding and exercisable 7,850,000 4,914,000 (2,699,000 ) (775,000 ) 9,290,000 Weighted average exercise price $ 1.29 $ 1.39 $ 0.88 $ 2.21 $ 1.39 Expiry date Exercise Dec 31, Granted Exercised Expired / Dec 31, May 6, 2016 * $ 1.33 65,000 - - (65,000 ) - June 8, 2016 * $ 2.89 2,145,000 - - (2,145,000 ) - July 14, 2016 * $ 1.37 130,000 - (120,000 ) (i) (10,000 ) - August 15, 2016 * $ 2.57 150,000 - - (150,000 ) - October 10, 2016 * $ 1.23 150,000 - (150,000 ) (i) - - January 6, 2017 * $ 0.98 1,180,000 - - - 1,180,000 May 4, 2017 * $ 1.91 200,000 - - (25,000 ) 175,000 June 8, 2017 * $ 1.98 75,000 - - - 75,000 August 26, 2017 * $ 0.74 1,445,000 - (135,000 ) - 1,310,000 September 11, 2017 * $ 2.31 500,000 - - - 500,000 November 22, 2017 * $ 2.22 100,000 - - - 100,000 April 4, 2018 * $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 - 100,000 - - 100,000 June 8, 2018 $ 1.44 - 1,915,000 - - 1,915,000 June 18, 2018 * $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 - 15,000 - - 15,000 August 9, 2018 $ 1.91 - 491,000 - - 491,000 September 15, 2018 $ 1.85 - 170,000 - - 170,000 December 11, 2018 $ 0.72 756,000 - (32,000 ) - 724,000 December 11, 2018 $ 1.68 - 150,000 - - 150,000 December 11, 2018 $ 1.80 - 20,000 - - 20,000 January 2, 2019 * $ 1.04 375,000 - - - 375,000 July 2, 2019 * $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 - 60,000 - - 60,000 Options outstanding and exercisable 7,761,000 2,921,000 (437,000 ) (2,395,000 ) 7,850,000 Weighted average exercise price $ 1.65 $ 1.55 $ 1.08 $ 2.81 $ 1.29 Expiry date Exercise December 31, Granted Exercised Expired / December 31, January 4, 2015 $ 1.14 970,000 - - (970,000 ) - February 22, 2015 $ 2.26 20,000 - - (20,000 ) - April 25, 2015 $ 1.67 25,000 - - (25,000 ) - June 21, 2015 $ 1.00 140,000 - - (140,000 ) - July 16, 2015 $ 0.92 200,000 - - (200,000 ) - August 27, 2015 $ 2.22 205,000 - - (205,000 ) - September 20, 2015 * $ 2.34 100,000 - - (100,000 ) - November 22, 2015 * $ 2.40 75,000 - - (75,000 ) - May 6, 2016 * $ 1.33 65,000 - - - 65,000 June 8, 2016 * $ 2.89 2,270,000 - - (125,000 ) 2,145,000 July 14, 2016 * $ 1.37 150,000 - - (20,000 ) 130,000 August 15, 2016 * $ 2.57 150,000 - - - 150,000 October 10, 2016 * $ 1.23 150,000 - - - 150,000 January 6, 2017 * $ 0.98 - 1,180,000 - - 1,180,000 May 4, 2017 * $ 1.91 225,000 - - (25,000 ) 200,000 June 8, 2017 * $ 1.98 75,000 - - - 75,000 August 26, 2017 * $ 0.74 - 1,445,000 - - 1,445,000 September 11, 2017 * $ 2.31 500,000 - - - 500,000 November 22, 2017 * $ 2.22 100,000 - - - 100,000 April 4, 2018 * $ 1.74 90,000 - - - 90,000 June 18, 2018 * $ 1.46 250,000 - - - 250,000 December 11, 2018 $ 0.72 - 756,000 - - 756,000 January 2, 2019 * $ 1.04 375,000 - - - 375,000 July 2, 2019 * $ 1.32 150,000 - - - 150,000 Options outstanding and exercisable 6,285,000 3,381,000 - (1,905,000 ) 7,761,000 Weighted average exercise price $ 2.05 $ 0.82 - $ 1.48 $ 1.65 |
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block] | Number Date of grant Fair value Risk free Expected Expected Expected 1,195,000 December 22, 2017 $ 0.62 1.71 % 3 65.20 % $Nil 100,000 November 23, 2017 $ 0.50 1.46 % 3 63.93 % $Nil 500,000 September 12, 2017 $ 0.55 1.59 % 2.5 63.12 % $Nil 1,160,000 August 25, 2017 $ 0.48 1.24 % 2 62.80 % $Nil 75,000 June 12, 2017 $ 0.63 0.88 % 2 65.95 % $Nil 75,000 May 19, 2017 $ 0.60 0.72 % 2 65.65 % $Nil 175,000 May 4, 2017 $ 0.63 0.71 % 2 65.77 % $Nil 207,000 March 17, 2017 $ 0.47 0.80 % 2 61.28 % $Nil 1,427,000 January 11, 2017 $ 0.54 0.75 % 2 68.94 % $Nil 60,000 December 21, 2016 $ 0.42 0.83 % 2 70.18 % $Nil 20,000 November 2, 2016 $ 0.69 0.54 % 2 68.31 % $Nil 150,000 October 6, 2016 $ 0.57 0.60 % 2 68.47 % $Nil 170,000 September 15, 2016 $ 0.70 0.58 % 2 68.08 % $Nil 491,000 August 9, 2016 $ 0.76 0.50 % 2 67.52 % $Nil 15,000 June 29, 2016 $ 0.87 0.54 % 2 66.44 % $Nil 1,915,000 June 8, 2016 $ 0.62 0.54 % 2 64.68 % $Nil 100,000 May 6, 2016 $ 0.52 0.54 % 2 63.84 % $Nil 756,000 December 11, 2015 $ 0.29 0.40 % 3 55.79 % $Nil 1,445,000 August 26, 2015 $ 0.20 0.53 % 2 58.76 % $Nil 1,180,000 January 6, 2015 $ 0.37 0.56 % 2 52.37 % $Nil |
Note 13 - Related Party Trans38
Note 13 - Related Party Transactions and Balances (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of the transactions between related parties [text block] | December 31, December 31, December 31, 2017 2016 2015 Salaries and benefits $ 813,400 $ 755,475 $ 740,208 (i) Share-based payments 2,216,170 1,537,060 725,165 Directors’ fees 70,000 41,000 48,000 $ 3,099,570 $ 2,333,535 $ 1,513,373 |
Note 14 - Income on Explorati39
Note 14 - Income on Exploration and Evaluation Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of income related to exploration and evaluation assets [text block] | Year ended December 31, 2017 2016 2015 $ 0 $ 0 $ 32,920 $ 0 $ 0 $ 32,920 |
Note 16 - Supplemental Cash F40
Note 16 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of supplemental cash flow [text block] | Investing and financing activities December 31, December 31, December 31, Exploration and evaluation assets expenditures included in trade and other payables $ 493,943 $ 535,254 $ 265,393 Contribution from spin-out assets; recognition of Exploration and evaluation cost reclassified from share capital - - 184,169 Residual value of warrants classified to reserves from share capital - - 180,267 Fair value of finders’ warrants 180,691 17,918 19,325 Fair value of shares issued pursuant to mill option agreement - - 273,358 Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants 12,797 5,984 - Fair value of cash stock options transferred to share capital on exercise of options 496,859 43,180 - Fair value of cashless stock options transferred to share capital on exercise of options 387,930 108,300 - December 31, December 31, Cash $ 1,449,184 $ 1,427,306 Term Deposits 14,885,350 8,342,700 $ 16,334,534 $ 9,770,006 |
Note 17 - Income Taxes (Tables)
Note 17 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of deferred income taxes [text block] | December 31, December 31, December 31, Loss before income taxes $ (5,231,295 ) $ (4,023,504 ) $ (1,549,125 ) Statutory rate 26.00 % 26.00 % 26.00 % Expected income tax (1,360,137 ) (1,046,111 ) (402,773 ) Effect of different tax rates in foreign jurisdictions 9,728 343 (8,855 ) Non-deductible share-based payments 700,198 485,943 247,192 Other permanent items 3,360 2,022 213,166 Change in deferred tax assets not recognized 1,921,226 3,518,776 (574,942 ) Impact of change in tax rates (348,020 ) - - Impact of change in expected manner of recovery - 853,274 (306,411 ) Share issuance costs (399,602 ) (39,241 ) (21,723 ) True-ups and other (526,753 ) (3,775,006 ) 449,746 Deferred income tax (recovery) expenses $ - $ - $ (404,600 ) |
Disclosure of deferred tax assets and liabilities [text block] | December 31, December 31, Deferred tax assets Non-capital losses $ 4,282,555 $ 4,570,832 Deferred tax liabilities Exploration and evaluation assets (5,717,437 ) (6,005,714 ) Net deferred tax liabilities $ (1,434,882 ) $ (1,434,882 ) |
Disclosure of temporary difference, unused tax losses and unused tax credits [text block] | December 31, December 31, Non-capital loss carry forwards $ 17,803,193 $ 13,238,619 Capital loss carry forwards 24,538,993 24,538,993 Exploration and evaluation assets 8,221,842 8,221,842 Share issue costs 1,778,234 548,690 Property, plant and equipment 10,127 33,492 Cumulative eligible capital deduction 507,429 545,623 Investment tax credit 239,849 239,849 $ 53,099,667 $ 47,367,108 |
Note 18 - Commitments (Tables)
Note 18 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of commitments and obligations [text block] | 2018 2019 2020 2021 2022 Total Office lease $ 148,410 $ 150,884 $ 154,182 $ 155,006 $ 38,752 $ 647,234 Executive contracts 575,000 240,000 240,000 240,000 - 1,295,000 $ 723,410 $ 390,884 $ 394,182 $ 395,006 $ 38,752 $ 1,942,234 |
Note 19 - Financial Instrumen43
Note 19 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of financial assets and liabilities [text block] | All amounts in Canadian dollars US dollar Mexican peso Cash and cash equivalents $ 3,578,279 $ 97,264 Accounts receivable and prepaid expenses 4,019 - Total assets $ 3,582,298 $ 97,264 Trade and other payables $ 183,904 $ 194,083 Total liabilities $ 183,904 $ 194,083 Net assets $ 3,398,394 $ (96,819 ) |
Note 21 - Segmented Informati44
Note 21 - Segmented Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Disclosure of segment reporting information, by segment [text block] | December 31, December 31, Canada $ 366,450 $ 89,950 United States 4,923,209 1,280,383 Mexico 44,810,040 35,992,658 $ 50,099,699 $ 37,362,991 |
Note 2 - Plan of Arrangement (D
Note 2 - Plan of Arrangement (Details Textual) - CAD ($) | Nov. 25, 2015 | Aug. 14, 2015 | Jul. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Statement Line Items [Line Items] | ||||||
Total number of shares issued | 407,997 | 43,888,992 | ||||
Reclassification adjustments on available-for-sale financial assets, net of tax | $ 162,812 | $ 162,812 | ||||
Reduction of issued capital | 11,828,963 | |||||
Fair value of transferred financial assets that are not derecognised in their entirety | 8,777,799 | |||||
Cash paid for spin-off | 3,000,000 | $ 3,000,000 | ||||
Net contributions from spin-off assets | $ 51,164 | |||||
Weighted average share price | $ 0.67 | $ 0.20 | ||||
New Almaden common shares issued for the exchange of old Almaden common shares [member] | ||||||
Statement Line Items [Line Items] | ||||||
Total number of shares issued | 1 | |||||
New Almadex common shares issued for the exchange of old Almaden common shares [member] | ||||||
Statement Line Items [Line Items] | ||||||
Total number of shares issued | 0.6 |
Note 2 - Plan of Arrangement -
Note 2 - Plan of Arrangement - Net Assets Transferred (Details) | Jul. 31, 2015CAD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) | Jul. 31, 2015USD ($) | |
Liabilities: | ||||||
Gain on transfer of spin-out assets | $ 3,115,422 | |||||
Almadex [member] | ||||||
Statement Line Items [Line Items] | ||||||
Accounts receivable and prepaid expenses | $ 142,731 | |||||
Marketable securities(1) | [1] | 357,672 | ||||
Inventory | 274,768 | |||||
Investment in associate | 2,108,408 | |||||
Reclamation deposit | 30,235 | |||||
Contingent shares receivable | $ 47,100 | |||||
Property, plant and equipment | 622,971 | |||||
Exploration and evaluation assets | 2,128,240 | |||||
Total assets | 5,712,125 | |||||
Liabilities: | ||||||
Trade and other payables | (49,748) | |||||
Carrying value of net assets | 5,662,377 | |||||
Fair value of net assets distributed | 8,777,799 | |||||
Gain on transfer of spin-out assets | $ 3,115,422 | |||||
[1] | The carrying value of the marketable securities spun out on July 31, 2015, reflects their mark to market fair value less an unrealized gain formerly included in reserves representing the accumulated other comprehensive income on available-for-sale financial assets of $162,812. |
Note 4 - Significant Accounti47
Note 4 - Significant Accounting Policies (Details Textual) | Dec. 31, 2017 |
Statement Line Items [Line Items] | |
Equity method investment, ownership percentage | 38.80% |
Note 4 - Significant Accounti48
Note 4 - Significant Accounting Policies - Property, Plant and Equipment Depreciation Rate (Details) | Dec. 31, 2017 |
Vehicles [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 30.00% |
Furniture, fixtures and fittings [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Computer equipment [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 30.00% |
Geological library [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Field equipment [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 20.00% |
Mill Equipment [member] | |
Statement Line Items [Line Items] | |
Property, plant and equipment | 7.00% |
Note 5 - Accounts Receivable 49
Note 5 - Accounts Receivable and Prepaid Expenses (Details Textual) - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Line Items [Line Items] | ||
Value added tax receivables | $ 444,729 | $ 248,142 |
Note 5 - Accounts Receivable 50
Note 5 - Accounts Receivable and Prepaid Expenses - Schedule of Accounts Receivable and Prepaid Expenses (Details) - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Line Items [Line Items] | ||
Accounts receivable (Note 13(b)) | $ 243,971 | $ 248,379 |
Prepaid expenses | 124,992 | 132,519 |
Total accounts receivable and prepaid expenses | $ 368,963 | $ 380,898 |
Note 6 - Marketable Securities
Note 6 - Marketable Securities (Details Textual) | 12 Months Ended |
Dec. 31, 2015CAD ($) | |
Statement Line Items [Line Items] | |
Gains (losses) recognised in profit or loss attributable to change in unrealised gains or losses for entity's own equity instruments held at end of period, fair value measurement | $ (162,000) |
Note 7 - Investment in Associ52
Note 7 - Investment in Associate (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Equity method investee, number of shares held | 26,750,000 | ||
Other comprehensive income, before tax, gains (losses) from investments in equity instruments | $ 95,892 | ||
Impairment of investment in associate | $ 470,700 |
Note 7 - Investment in Associ53
Note 7 - Investment in Associate - Schedule of Investments (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Company’s share of net loss | $ 470,700 | ||
Gold Mountain [member] | |||
Statement Line Items [Line Items] | |||
Balance, beginning of year | 2,675,000 | ||
Company’s share of net loss | (95,892) | ||
Impairment | (470,700) | ||
Transfer to Almadex | (2,108,408) | ||
Balance, end of year |
Note 8 - Contingent Shares Re54
Note 8 - Contingent Shares Receivable (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Gain (loss) on fair value of contingent shares receivable | $ 22,500 | ||
Goldgroup Mining Inc. [member] | |||
Statement Line Items [Line Items] | |||
Gain (loss) on fair value of contingent shares receivable | $ (22,500) |
Note 9 - Deposit on Mill Equi55
Note 9 - Deposit on Mill Equipment (Details Textual) | Jun. 15, 2018CAD ($) | Jun. 15, 2018USD ($) | Jul. 19, 2017CAD ($) | Jul. 19, 2017USD ($) | Jun. 13, 2017CAD ($) | Jun. 13, 2017USD ($) | Apr. 05, 2017CAD ($) | Apr. 05, 2017USD ($) | Nov. 28, 2016CAD ($) | Nov. 28, 2016MXN ($) | Mar. 17, 2016CAD ($) | Mar. 17, 2016USD ($) | Dec. 29, 2015CAD ($) | Dec. 29, 2015USD ($) | Nov. 25, 2015CAD ($)shares | Oct. 21, 2015CAD ($) | Oct. 21, 2015USD ($) | Oct. 19, 2015CAD ($)shares | Oct. 19, 2015USD ($)shares | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2016MXN ($) | Dec. 31, 2015CAD ($) | Dec. 31, 2017USD ($) | Aug. 14, 2015shares |
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Option to purchase property | $ 25,000,000 | ||||||||||||||||||||||||
Total number of shares issued | shares | 407,997 | 43,888,992 | |||||||||||||||||||||||
Fair value of shares issued | $ 273,358 | $ 273,358 | |||||||||||||||||||||||
Payments for purchase obligations for equipment | $ 525,841 | $ 417,500 | $ 2,647,600 | $ 2,000,000 | $ 469,385 | $ 350,000 | $ 651,200 | $ 10,000,000 | $ 324,600 | $ 250,000 | $ 346,000 | $ 250,000 | $ 346,000 | $ 250,000 | 3,642,826 | 324,600 | 692,000 | ||||||||
Deposits on equipment | $ 995,226 | $ 3,927,983 | 4,923,209 | $ 1,280,383 | $ 965,358 | ||||||||||||||||||||
Rock Creek Mill [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Option to purchase property | $ 6,500,000 | ||||||||||||||||||||||||
Total number of shares issued | shares | 407,997 | 407,997 | |||||||||||||||||||||||
Fair value of shares issued | $ 273,358 | ||||||||||||||||||||||||
Deposits on equipment | $ 995,226 | $ 767,500 | |||||||||||||||||||||||
Rock Creek Mill [member] | Major purchases of assets [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Payments for purchase obligations for equipment | $ 4,704,375 | $ 3,750,000 |
Note 9 - Deposit on Mill Equi56
Note 9 - Deposit on Mill Equipment - Schedule of Option Payments (Details) | Jul. 19, 2017CAD ($) | Jul. 19, 2017USD ($) | Jun. 13, 2017CAD ($) | Jun. 13, 2017USD ($) | Apr. 05, 2017CAD ($) | Apr. 05, 2017USD ($) | Nov. 28, 2016CAD ($) | Nov. 28, 2016MXN ($) | Mar. 17, 2016CAD ($) | Mar. 17, 2016USD ($) | Dec. 29, 2015CAD ($) | Dec. 29, 2015USD ($) | Nov. 25, 2015CAD ($)shares | Oct. 21, 2015CAD ($) | Oct. 21, 2015USD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) | Aug. 14, 2015shares |
Statement Line Items [Line Items] | |||||||||||||||||||
Payments for purchase obligation | $ 525,841 | $ 417,500 | $ 2,647,600 | $ 2,000,000 | $ 469,385 | $ 350,000 | $ 651,200 | $ 10,000,000 | $ 324,600 | $ 250,000 | $ 346,000 | $ 250,000 | $ 346,000 | $ 250,000 | $ 3,642,826 | $ 324,600 | $ 692,000 | ||
Total number of shares issued | shares | 407,997 | 43,888,992 | |||||||||||||||||
Fair value of shares issued | $ 273,358 | 273,358 | |||||||||||||||||
Deposit | $ 995,226 | $ 3,927,983 | 4,923,209 | 1,280,383 | 965,358 | ||||||||||||||
Unrealized foreign exchange loss on deposit on mill equipment | $ (9,575) | $ 1,370 |
Note 10 - Property, Plant and57
Note 10 - Property, Plant and Equipment (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Proceeds from disposals of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets | $ 0 | $ 0 | |
Losses on disposals of property, plant and equipment | 1,760 | 3,985 | |
Property, plant and equipment at end of period | 372,292 | 97,252 | $ 105,738 |
Mill Equipment [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment at end of period | $ 199,952 |
Note 10 - Property, Plant and58
Note 10 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - CAD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Line Items [Line Items] | ||
Balance | $ 97,252 | $ 105,738 |
Carrying amounts | 97,252 | 97,252 |
Balance | 372,292 | 97,252 |
Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 30,239 | 31,067 |
Carrying amounts | 30,239 | 30,239 |
Balance | 25,352 | 30,239 |
Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 2,010 | 6,858 |
Carrying amounts | 2,010 | 2,010 |
Balance | 2,010 | |
Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 3,495 | 4,369 |
Carrying amounts | 3,495 | 3,495 |
Balance | 19,609 | 3,495 |
Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 26,709 | 19,945 |
Carrying amounts | 26,709 | 26,709 |
Balance | 33,497 | 26,709 |
Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 2,994 | 3,742 |
Carrying amounts | 2,994 | 2,994 |
Balance | 2,394 | 2,994 |
Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 31,805 | 39,757 |
Carrying amounts | 31,805 | 31,805 |
Balance | 91,488 | 31,805 |
Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | ||
Carrying amounts | 199,952 | |
Balance | 199,952 | |
Gross carrying amount [member] | ||
Statement Line Items [Line Items] | ||
Balance | 995,754 | 1,001,109 |
Additions | 305,074 | 22,538 |
Disposals | (36,529) | (27,893) |
Carrying amounts | 995,754 | 995,754 |
Balance | 1,264,299 | 995,754 |
Gross carrying amount [member] | Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 185,263 | 176,010 |
Additions | 4,300 | 9,253 |
Disposals | ||
Carrying amounts | 185,263 | 185,263 |
Balance | 189,563 | 185,263 |
Gross carrying amount [member] | Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 146,569 | 174,462 |
Additions | ||
Disposals | (36,529) | (27,893) |
Carrying amounts | 146,569 | 146,569 |
Balance | 110,040 | 146,569 |
Gross carrying amount [member] | Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 135,064 | 135,064 |
Additions | 19,029 | |
Disposals | ||
Carrying amounts | 135,064 | 135,064 |
Balance | 154,093 | 135,064 |
Gross carrying amount [member] | Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 231,451 | 218,166 |
Additions | 15,748 | 13,285 |
Disposals | ||
Carrying amounts | 231,451 | 231,451 |
Balance | 247,199 | 231,451 |
Gross carrying amount [member] | Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 51,760 | 51,760 |
Additions | ||
Disposals | ||
Carrying amounts | 51,760 | 51,760 |
Balance | 51,760 | 51,760 |
Gross carrying amount [member] | Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 245,647 | 245,647 |
Additions | 66,045 | |
Disposals | ||
Carrying amounts | 245,647 | 245,647 |
Balance | 311,692 | 245,647 |
Gross carrying amount [member] | Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | ||
Additions | 199,952 | |
Disposals | ||
Carrying amounts | ||
Balance | 199,952 | |
Accumulated depreciation, amortisation and impairment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 898,502 | 895,371 |
Disposals | (34,769) | (23,908) |
Depreciation | 28,274 | 27,039 |
Carrying amounts | 898,502 | 898,502 |
Balance | 892,007 | 898,502 |
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | ||
Statement Line Items [Line Items] | ||
Balance | 155,024 | 144,943 |
Disposals | ||
Depreciation | 9,187 | 10,081 |
Carrying amounts | 155,024 | 155,024 |
Balance | 164,211 | 155,024 |
Accumulated depreciation, amortisation and impairment [member] | Vehicles [member] | ||
Statement Line Items [Line Items] | ||
Balance | 144,559 | 167,604 |
Disposals | (34,769) | (23,908) |
Depreciation | 250 | 863 |
Carrying amounts | 144,559 | 144,559 |
Balance | 110,040 | 144,559 |
Accumulated depreciation, amortisation and impairment [member] | Furniture, fixtures and fittings [member] | ||
Statement Line Items [Line Items] | ||
Balance | 131,569 | 130,695 |
Disposals | ||
Depreciation | 2,915 | 874 |
Carrying amounts | 131,569 | 131,569 |
Balance | 134,484 | 131,569 |
Accumulated depreciation, amortisation and impairment [member] | Computer equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 204,742 | 198,221 |
Disposals | ||
Depreciation | 8,960 | 6,521 |
Carrying amounts | 204,742 | 204,742 |
Balance | 213,702 | 204,742 |
Accumulated depreciation, amortisation and impairment [member] | Geological library [member] | ||
Statement Line Items [Line Items] | ||
Balance | 48,766 | 48,018 |
Disposals | ||
Depreciation | 600 | 748 |
Carrying amounts | 48,766 | 48,766 |
Balance | 49,366 | 48,766 |
Accumulated depreciation, amortisation and impairment [member] | Field equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | 213,842 | 205,890 |
Disposals | ||
Depreciation | 6,362 | 7,952 |
Carrying amounts | 213,842 | 213,842 |
Balance | 220,204 | 213,842 |
Accumulated depreciation, amortisation and impairment [member] | Mill Equipment [member] | ||
Statement Line Items [Line Items] | ||
Balance | ||
Disposals | ||
Depreciation | ||
Carrying amounts | ||
Balance |
Note 11 - Exploration and Eva59
Note 11 - Exploration and Evaluation Assets (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017CAD ($) | Dec. 31, 2016MXN ($) | Dec. 31, 2001 | |
Statement Line Items [Line Items] | |||
Number of purchase option agreements | 2 | ||
Percentage ownership to be acquired at full option purchase | 100.00% | ||
Number of land holdings to be fully owned at option purchase | 2 | ||
Option to purchase property | $ 25,000,000 | ||
Nominal value of of property | $ 1 | ||
Tuligtic property in Puebla, Mexico [member | |||
Statement Line Items [Line Items] | |||
Proportion of ownership interest in associate | 100.00% | ||
Logan property located in the Yukon Territory, Canada [member] | |||
Statement Line Items [Line Items] | |||
Proportion of ownership interest in associate | 40.00% |
Note 11 - Exploration and Eva60
Note 11 - Exploration and Evaluation Assets - Schedule of Exploration and Evaluation Assets (Details) | Jul. 19, 2017CAD ($) | Jul. 19, 2017USD ($) | Jun. 13, 2017CAD ($) | Jun. 13, 2017USD ($) | Apr. 05, 2017CAD ($) | Apr. 05, 2017USD ($) | Nov. 28, 2016CAD ($) | Nov. 28, 2016MXN ($) | Mar. 17, 2016CAD ($) | Mar. 17, 2016USD ($) | Dec. 29, 2015CAD ($) | Dec. 29, 2015USD ($) | Oct. 21, 2015CAD ($) | Oct. 21, 2015USD ($) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) | Dec. 31, 2017MXN ($) |
Statement Line Items [Line Items] | ||||||||||||||||||
Closing balance | $ 4,780,571 | $ 3,202,135 | ||||||||||||||||
Additions | 2,757,007 | 1,578,436 | ||||||||||||||||
Closing balance | 7,537,578 | 4,780,571 | $ 3,202,135 | |||||||||||||||
Balance | 31,204,785 | 27,335,875 | ||||||||||||||||
Drilling and related costs | 1,053,771 | 666,210 | ||||||||||||||||
Professional/technical fees | 112,191 | 139,916 | ||||||||||||||||
Claim maintenance/lease costs | 160,251 | 138,901 | ||||||||||||||||
Geochemical, metallurgy | 746,103 | 611,344 | ||||||||||||||||
Technical studies | 1,698,055 | 1,048,807 | ||||||||||||||||
Travel and accommodation | 390,927 | 273,178 | ||||||||||||||||
Geology, geophysics and exploration | 795,731 | 489,919 | ||||||||||||||||
Supplies and misc. | 118,015 | 31,636 | ||||||||||||||||
Water exploration | 7,981 | 97,232 | ||||||||||||||||
Environmental | 534,081 | |||||||||||||||||
Value-added tax (Note 5) | 444,729 | 248,142 | ||||||||||||||||
Total deferred exploration costs during the period | 6,061,835 | 3,868,910 | ||||||||||||||||
Balance | 37,266,620 | 31,204,785 | 27,335,875 | |||||||||||||||
Total exploration and evaluation assets | 44,804,198 | 35,985,356 | ||||||||||||||||
Reclamation, environmental | 123,625 | |||||||||||||||||
Payments for purchase obligation | $ 525,841 | $ 417,500 | $ 2,647,600 | $ 2,000,000 | $ 469,385 | $ 350,000 | $ 651,200 | $ 10,000,000 | $ 324,600 | $ 250,000 | $ 346,000 | $ 250,000 | $ 346,000 | $ 250,000 | 3,642,826 | 324,600 | 692,000 | |
November 28, 2018 | 976,500 | $ 15,000,000 | ||||||||||||||||
Tuligtic [Member] | ||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||
Closing balance | 4,780,570 | 3,202,134 | ||||||||||||||||
Additions | 2,757,007 | 1,578,436 | ||||||||||||||||
Closing balance | 7,537,577 | 4,780,570 | 3,202,134 | |||||||||||||||
Balance | 31,204,785 | 27,335,875 | ||||||||||||||||
Drilling and related costs | 1,053,771 | 666,210 | ||||||||||||||||
Professional/technical fees | 112,191 | 139,916 | ||||||||||||||||
Claim maintenance/lease costs | 160,251 | 138,901 | ||||||||||||||||
Geochemical, metallurgy | 746,103 | 611,344 | ||||||||||||||||
Technical studies | 1,698,055 | 1,048,807 | ||||||||||||||||
Travel and accommodation | 390,927 | 273,178 | ||||||||||||||||
Geology, geophysics and exploration | 795,731 | 489,919 | ||||||||||||||||
Supplies and misc. | 118,015 | 31,636 | ||||||||||||||||
Water exploration | 7,981 | 97,232 | ||||||||||||||||
Environmental | 534,081 | |||||||||||||||||
Value-added tax (Note 5) | 444,729 | 248,142 | ||||||||||||||||
Total deferred exploration costs during the period | 6,061,835 | 3,868,910 | ||||||||||||||||
Balance | 37,266,620 | 31,204,785 | 27,335,875 | |||||||||||||||
Total exploration and evaluation assets | 44,804,197 | 35,985,355 | ||||||||||||||||
Reclamation, environmental | 123,625 | |||||||||||||||||
Other property, plant and equipment [member] | ||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||
Closing balance | 1 | 1 | ||||||||||||||||
Additions | ||||||||||||||||||
Closing balance | 1 | 1 | 1 | |||||||||||||||
Balance | ||||||||||||||||||
Drilling and related costs | ||||||||||||||||||
Professional/technical fees | ||||||||||||||||||
Claim maintenance/lease costs | ||||||||||||||||||
Geochemical, metallurgy | ||||||||||||||||||
Technical studies | ||||||||||||||||||
Travel and accommodation | ||||||||||||||||||
Geology, geophysics and exploration | ||||||||||||||||||
Supplies and misc. | ||||||||||||||||||
Water exploration | ||||||||||||||||||
Environmental | ||||||||||||||||||
Value-added tax (Note 5) | ||||||||||||||||||
Total deferred exploration costs during the period | ||||||||||||||||||
Balance | ||||||||||||||||||
Total exploration and evaluation assets | $ 1 | 1 | ||||||||||||||||
Reclamation, environmental |
Note 12 - Share Capital and R61
Note 12 - Share Capital and Reserves (Details Textual) | Aug. 26, 2017CAD ($) | Jun. 01, 2017CAD ($)$ / sharesshares | Feb. 07, 2017CAD ($)$ / sharesshares | Jan. 06, 2017CAD ($) | Oct. 10, 2016CAD ($)shares | Jul. 14, 2016CAD ($) | May 25, 2016CAD ($)$ / sharesshares | Nov. 25, 2015CAD ($)shares | Nov. 17, 2015CAD ($)$ / sharesshares | Aug. 14, 2015CAD ($)shares | Feb. 11, 2015CAD ($)$ / sharesshares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($) | Dec. 31, 2015CAD ($) | Jan. 01, 2015 | Dec. 31, 2014 | |
Statement Line Items [Line Items] | |||||||||||||||||
Issue of equity, private placement, number of units | shares | 9,857,800 | 2,519,407 | 3,229,082 | 4,506,666 | 4,420,000 | ||||||||||||
Weighted average unit price | $ / shares | $ 1.75 | $ 1.35 | $ 1.35 | $ 0.75 | $ 1.25 | ||||||||||||
Proceeds from issuing units | $ 17,251,150 | $ 3,401,199 | $ 4,359,260 | $ 3,380,000 | $ 5,525,000 | ||||||||||||
Number of common shares issued per private placement unit | shares | 1 | 1 | 1 | 1 | 1 | ||||||||||||
Number of warrants issued per private placement unit | shares | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | ||||||||||||
Number of common shares purchasable from a warrant | shares | 1 | 1 | 1 | 1 | 1 | ||||||||||||
Weighted average share price | $ 0.67 | $ 0.20 | |||||||||||||||
Finders' fee | $ 1,035,069 | $ 88,631 | |||||||||||||||
Share issue related cost | 296,823 | 116,408 | $ 203,232 | ||||||||||||||
Number of shares issued as payment | shares | 407,997 | ||||||||||||||||
Proceeds from issuing shares | $ 19,115,418 | $ 4,091,646 | $ 8,428,953 | ||||||||||||||
Weighted average remaining contractual life of outstanding warrants | 1.95 | 1.34 | |||||||||||||||
Stock options issuance limitations, maximum percentage of allowed issuable options | 10.00% | ||||||||||||||||
Stock options issuance limitations, maximum percentage of allowed issuable options for services rendered | 2.00% | ||||||||||||||||
Number of shares authorised | shares | 929,963 | ||||||||||||||||
Stock option limitations, maximum amount of stock options exercisable during a 3 month period | 25.00% | ||||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.88 | $ 1.08 | |||||||||||||||
Total number of shares issued | shares | 407,997 | 43,888,992 | |||||||||||||||
Weighted average remaining contractual life of outstanding share options | 1.33 | 1.13 | 2.05 | 2.29 | |||||||||||||
Expense from share-based payment transactions with employees | $ 2,693,070 | $ 1,869,010 | $ 950,740 | ||||||||||||||
Common shares issued in a cashless transaction [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 150,000 | 105,000 | |||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 1.23 | $ 1.37 | |||||||||||||||
Total number of shares issued | shares | 63,510 | 532,836 | |||||||||||||||
Top of range [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Option life, share options granted | 5 | ||||||||||||||||
Issued capital [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Share issue related cost | $ 203,232 | ||||||||||||||||
Proceeds from issuing shares | $ 3,199,733 | ||||||||||||||||
Warrants [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Weighted average share price | 2.45 | 2 | $ 2 | 1 | $ 2 | ||||||||||||
Proceeds from issuing shares | 180,267 | ||||||||||||||||
Finders' warrants [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Weighted average share price | $ 2 | $ 1.35 | 1.44 | 0.77 | 1.28 | ||||||||||||
Finders' fee | $ 147,925 | $ 73,550 | $ 212,626 | ||||||||||||||
Maximum number of common shares purchasable from warrants | shares | 295,734 | 17,911 | 45,944 | 35,200 | 49,410 | ||||||||||||
Warrants, fair value | $ 171,526 | $ 9,165 | $ 17,918 | $ 5,984 | $ 13,341 | ||||||||||||
Share issue related cost | $ 119,689 | $ 43,075 | $ 146,796 | ||||||||||||||
Stock options expiring January 6, 2017 [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,180,000 | [1] | |||||||||||||||
Stock options expiring January 6, 2017 [member] | Common shares issued in a cashless transaction [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 350,000 | ||||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.98 | ||||||||||||||||
Stock options expiring August 26, 2017 [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,310,000 | [1] | 135,000 | ||||||||||||||
Stock options expiring August 26, 2017 [member] | Common shares issued in a cashless transaction [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 1,150,000 | ||||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.74 | ||||||||||||||||
First set of stock options expiring December 11, 2018 [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 134,000 | [1] | 32,000 | ||||||||||||||
First set of stock options expiring December 11, 2018 [member] | Common shares issued in a cashless transaction [member] | |||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||
Number of share options exercised in share-based payment arrangement | 92,000 | ||||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.72 | ||||||||||||||||
[1] | In accordance with the Company's stock option plan, options holders exercised 350,000; 1,150,000 and 92,000 stock options on a cashless basis at an exercise price of $0.98, $0.74 and $0.72 respectively. The total number of shares issued in connection with the cashless exercise of options was 532,836. |
Note 12 - Share Capital and R62
Note 12 - Share Capital and Reserves - Continuity of Warrants (Details) | 12 Months Ended | 36 Months Ended | ||||
Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares | Dec. 31, 2015CAD ($)shares | Dec. 31, 2017CAD ($) | |||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.44 | $ 1.44 | $ 1.47 | $ 2.27 | ||
Exercised | (1.01) | (1.55) | ||||
Balance, outstanding and exercisable | 3,697,152 | 9,109,944 | 6,610,000 | 6,610,000 | ||
Issued, outstanding and exercisable (in shares) | shares | 6,502,249 | 1,660,485 | 4,547,944 | |||
Exercised, outstanding and exercisable (in shares) | shares | (2,017,139) | (4,627,867) | ||||
Expired/Cancelled, outstanding and exercisable (in shares) | shares | (50,000) | (2,445,410) | (2,048,000) | |||
Balance, outstanding and exercisable | 8,132,262 | 3,697,152 | 9,109,944 | 8,132,262 | ||
Balance, weighted average exercise price | $ 1.44 | $ 1.47 | $ 1.70 | $ 1.70 | ||
Issued, weighted average exercise price | $ 2.34 | $ 1.98 | $ 1.37 | |||
Exercised, weighted average exercise price | 1.01 | 1.55 | ||||
Expired/Cancelled, weighted average exercise price | $ 1 | $ 1.71 | $ 1.99 | |||
Balance, weighted average exercise price | 2.27 | $ 1.44 | 1.47 | 2.27 | ||
Warrants expiring November 17, 2017 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1 | $ 1 | ||||
Balance | 2,036,667 | |||||
Number of warrants | ||||||
Exercised | (1,986,667) | |||||
Expired/Cancelled | (50,000) | |||||
Balance | 2,036,667 | |||||
Exercised, weighted average exercise price | 1,986,667 | |||||
Balance, weighted average exercise price | $ 1 | $ 1 | ||||
Warrants expiring February 11, 2016, first set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.76 | $ 1.76 | $ 1.76 | [1] | ||
Balance | 2,210,000 | |||||
Number of warrants | 2,210,000 | |||||
Exercised | ||||||
Expired/Cancelled | (2,210,000) | |||||
Balance | 2,210,000 | |||||
Balance, weighted average exercise price | $ 1.76 | $ 1.76 | [1] | |||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 1.76 | $ 1.76 | [1] | |||
Warrants expiring August 1, 2015, first set [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.50 | $ 1.50 | 48,000 | |||
Balance | ||||||
Number of warrants | ||||||
Exercised | ||||||
Expired/Cancelled | (48,000) | |||||
Balance | ||||||
Balance, weighted average exercise price | $ 1.50 | $ 48,000 | 48,000 | |||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 1.50 | |||||
Warrants expiring November 25, 2018, first set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 2 | $ 2 | $ 2 | |||
Balance | 1,614,541 | |||||
Number of warrants | 1,614,541 | |||||
Exercised | ||||||
Expired/Cancelled | ||||||
Balance | 1,614,541 | 1,614,541 | 1,614,541 | |||
Balance, weighted average exercise price | $ 2 | |||||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 2 | $ 2 | $ 2 | |||
Warrants expiring February 11, 2016, second set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.12 | $ 1.12 | $ 1.12 | [1] | ||
Balance | 49,410 | |||||
Number of warrants | 49,410 | |||||
Exercised | ||||||
Expired/Cancelled | (49,410) | |||||
Balance | 49,410 | |||||
Balance, weighted average exercise price | $ 1.12 | $ 1.12 | [1] | |||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 1.12 | $ 1.12 | [1] | |||
Warrants expiring August 1, 2015, second set [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 2 | $ 2 | 2,000,000 | |||
Balance | ||||||
Number of warrants | ||||||
Exercised | ||||||
Expired/Cancelled | (2,000,000) | |||||
Balance | ||||||
Balance, weighted average exercise price | $ 2 | $ 2,000,000 | 2,000,000 | |||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 2 | |||||
Warrants expiring November 25, 2018, second set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.44 | $ 1.44 | $ 1.44 | |||
Balance | 45,944 | |||||
Number of warrants | 45,944 | |||||
Exercised | (22,972) | |||||
Expired/Cancelled | ||||||
Balance | 22,972 | 45,944 | 22,972 | |||
Balance, weighted average exercise price | $ 1.44 | |||||
Exercised, weighted average exercise price | 22,972 | |||||
Balance, weighted average exercise price | $ 1.44 | $ 1.44 | $ 1.44 | |||
Warrants expiring July 17, 2016, first set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.58 | $ 1.58 | $ 1.58 | [1] | 4,376,000 | |
Balance | 4,376,000 | |||||
Number of warrants | ||||||
Exercised | (4,376,000) | |||||
Expired/Cancelled | ||||||
Balance | 4,376,000 | |||||
Balance, weighted average exercise price | $ 1.58 | $ 1.58 | [1] | $ 4,376,000 | 4,376,000 | |
Exercised, weighted average exercise price | 4,376,000 | |||||
Balance, weighted average exercise price | $ 1.58 | $ 1.58 | [1] | |||
Warrants expiring June 1, 2019 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 2 | $ 2 | ||||
Balance | ||||||
Number of warrants | 295,734 | |||||
Exercised | ||||||
Expired/Cancelled | ||||||
Balance | 295,734 | 295,734 | ||||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 2 | $ 2 | ||||
Warrants expiring July 17, 2016, second set [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.32 | $ 1.32 | $ 1.32 | [1] | 186,000 | |
Balance | 186,000 | |||||
Number of warrants | ||||||
Exercised | ||||||
Expired/Cancelled | (186,000) | |||||
Balance | 186,000 | |||||
Balance, weighted average exercise price | $ 1.32 | $ 1.32 | [1] | $ 186,000 | 186,000 | |
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 1.32 | $ 1.32 | [1] | |||
Warrants expiring August 7, 2019, first set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 2 | $ 2 | ||||
Balance | ||||||
Number of warrants | 1,259,704 | |||||
Exercised | ||||||
Expired/Cancelled | ||||||
Balance | 1,259,704 | 1,259,704 | ||||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 2 | $ 2 | ||||
Warrants expiring November 17, 2017, first set [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1 | $ 1 | $ 1 | |||
Balance | 2,036,667 | 2,253,334 | ||||
Number of warrants | 2,253,334 | |||||
Exercised | (216,667) | |||||
Expired/Cancelled | ||||||
Balance | 2,036,667 | 2,253,334 | ||||
Balance, weighted average exercise price | $ 1 | $ 1 | ||||
Exercised, weighted average exercise price | 216,667 | |||||
Balance, weighted average exercise price | $ 1 | $ 1 | ||||
Warrants expiring August 7, 2019, second set [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 1.35 | $ 1.35 | ||||
Balance | ||||||
Number of warrants | 17,911 | |||||
Exercised | (7,500) | |||||
Expired/Cancelled | ||||||
Balance | 10,411 | 10,411 | ||||
Exercised, weighted average exercise price | 7,500 | |||||
Balance, weighted average exercise price | $ 1.35 | $ 1.35 | ||||
Warrants expiring November 17, 2017, second set [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 0.77 | $ 0.77 | $ 0.77 | |||
Balance | 35,200 | |||||
Number of warrants | 35,200 | |||||
Exercised | (35,200) | |||||
Expired/Cancelled | ||||||
Balance | 35,200 | |||||
Balance, weighted average exercise price | $ 0.77 | $ 0.77 | ||||
Exercised, weighted average exercise price | 35,200 | |||||
Balance, weighted average exercise price | $ 0.77 | $ 0.77 | ||||
Warrants expiring June 1, 2020 [member] | ||||||
Statement Line Items [Line Items] | ||||||
Exercise price | $ 2.45 | $ 2.45 | ||||
Balance | ||||||
Number of warrants | 4,928,900 | |||||
Exercised | ||||||
Expired/Cancelled | ||||||
Balance | 4,928,900 | 4,928,900 | ||||
Exercised, weighted average exercise price | ||||||
Balance, weighted average exercise price | $ 2.45 | $ 2.45 | ||||
[1] | On August 28, 2015, the Company adjusted the exercise price on outstanding warrants proportionately to reflect the value transferred to Almadex. |
Note 12 - Share Capital and R63
Note 12 - Share Capital and Reserves - Warrant Fair Value Assumptions (Details) | 36 Months Ended |
Dec. 31, 2017CAD ($) | |
Warrants issued on June 1, 2017 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 295,734 |
Fair value per share | $ 0.58 |
Risk free interest rate | 0.71% |
Expected life (Year) | 2 years |
Expected volatility | 66.26% |
Expected dividends | |
Warrants issued on February 7, 2017 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 17,911 |
Fair value per share | $ 0.51 |
Risk free interest rate | 0.72% |
Expected life (Year) | 2 years 182 days |
Expected volatility | 61.54% |
Expected dividends | |
Warrants issued on May 25, 2016 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 45,944 |
Fair value per share | $ 0.39 |
Risk free interest rate | 0.59% |
Expected life (Year) | 2 years |
Expected volatility | 55.53% |
Expected dividends | |
Warrants issued on November 17, 2015 [member] | |
Statement Line Items [Line Items] | |
Number of warrants | 35,200 |
Fair value per share | $ 0.17 |
Risk free interest rate | 0.38% |
Expected life (Year) | 2 years |
Expected volatility | 47.77% |
Expected dividends | |
Warrants issued on February 11, 2015 [member} | |
Statement Line Items [Line Items] | |
Number of warrants | 49,410 |
Fair value per share | $ 0.27 |
Risk free interest rate | 0.56% |
Expected life (Year) | 1 year |
Expected volatility | 40.83% |
Expected dividends |
Note 12 - Share Capital and R64
Note 12 - Share Capital and Reserves - Schedule of Share Options (Details) | 12 Months Ended | 36 Months Ended | ||||||
Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares | Dec. 31, 2015CAD ($)shares | Dec. 31, 2017CAD ($)shares | |||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.29 | $ 1.29 | $ 1.65 | $ 1.39 | ||||
Stock options, balance, outstanding and exercisable (in shares) | shares | 7,850,000 | 7,761,000 | 6,285,000 | 6,285,000 | ||||
Stock options, granted, outstanding and exercisable (in shares) | shares | 4,914,000 | 2,921,000 | 3,381,000 | |||||
Stock options, exercised, outstanding and exercisable (in shares) | shares | (2,699,000) | (437,000) | ||||||
Stock options expired/cancelled, outstanding and exercisable (in shares) | shares | (775,000) | (2,395,000) | (1,905,000) | |||||
Stock options balance, outstanding and exercisable (in shares) | shares | 9,290,000 | 7,850,000 | 7,761,000 | 9,290,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.29 | $ 1.65 | $ 2.05 | $ 2.05 | ||||
Weighted average exercise price | 1.39 | 1.55 | 0.82 | |||||
Stock options, exercised, weighted average exercise price | 0.88 | 1.08 | ||||||
Stock options expired/cancelled, weighted average exercise price | 2.21 | 2.81 | 1.48 | |||||
Stock options balance, weighted average exercise price | 1.39 | 1.29 | 1.65 | 1.39 | ||||
Stock options expiring January 6, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 0.98 | $ 0.98 | $ 0.98 | [1] | $ 0.98 | |||
Stock options, balance | 1,180,000 | 1,180,000 | ||||||
Stock options, granted | 1,180,000 | |||||||
Stock options, exercised | (1,180,000) | [2] | ||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,180,000 | 1,180,000 | ||||||
Stock options, balance, weighted average exercise price | $ 0.98 | $ 0.98 | [1] | |||||
Stock options balance, weighted average exercise price | 0.98 | 0.98 | $ 0.98 | [1] | $ 0.98 | |||
Stock options expiring January 4, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.14 | $ 1.14 | ||||||
Stock options, balance | 970,000 | 970,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (970,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 1.14 | |||||||
Stock options balance, weighted average exercise price | $ 1.14 | |||||||
Stock options granted May 4, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | ||||||
Stock options, balance | 175,000 | |||||||
Stock options, granted | 175,000 | |||||||
Stock options, exercised | (75,000) | |||||||
Stock options expired/cancelled | (100,000) | |||||||
Stock options, balance | 175,000 | |||||||
Stock options balance, weighted average exercise price | $ 1.91 | $ 1.91 | ||||||
Stock options expiring February 22, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.26 | $ 2.26 | ||||||
Stock options, balance | 20,000 | 20,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (20,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 2.26 | |||||||
Stock options balance, weighted average exercise price | $ 2.26 | |||||||
Stock options expiring April 25, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.67 | $ 1.67 | ||||||
Stock options, balance | 25,000 | 25,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (25,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 1.67 | |||||||
Stock options balance, weighted average exercise price | $ 1.67 | |||||||
Stock options expiring June 8, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.98 | $ 1.98 | $ 1.98 | [1] | $ 1.98 | |||
Stock options, balance | 75,000 | 75,000 | 75,000 | 75,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (75,000) | |||||||
Stock options, balance | 75,000 | 75,000 | ||||||
Stock options, balance, weighted average exercise price | $ 1.98 | $ 1.98 | [1] | |||||
Stock options balance, weighted average exercise price | 1.98 | 1.98 | $ 1.98 | [1] | $ 1.98 | |||
Stock options expiring June 21, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1 | $ 1 | ||||||
Stock options, balance | 140,000 | 140,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (140,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 1 | |||||||
Stock options balance, weighted average exercise price | $ 1 | |||||||
Stock options expiring July 16, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 0.92 | $ 0.92 | ||||||
Stock options, balance | 200,000 | 200,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (200,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 0.92 | |||||||
Stock options balance, weighted average exercise price | $ 0.92 | |||||||
Stock options expiring August 26, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 0.74 | $ 0.74 | $ 0.74 | [1] | $ 0.74 | |||
Stock options, balance | 1,310,000 | 1,445,000 | ||||||
Stock options, granted | 1,445,000 | |||||||
Stock options, exercised | (1,310,000) | [2] | (135,000) | |||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,310,000 | 1,445,000 | ||||||
Stock options, balance, weighted average exercise price | $ 0.74 | $ 0.74 | [1] | |||||
Stock options balance, weighted average exercise price | 0.74 | 0.74 | $ 0.74 | [1] | $ 0.74 | |||
Stock options expiring August 27, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.22 | $ 2.22 | ||||||
Stock options, balance | 205,000 | 205,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (205,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | $ 2.22 | |||||||
Stock options balance, weighted average exercise price | $ 2.22 | |||||||
Stock options expiring September 11, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.31 | $ 2.31 | $ 2.31 | [1] | $ 2.31 | |||
Stock options, balance | 500,000 | 500,000 | 500,000 | 500,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (500,000) | |||||||
Stock options, balance | 500,000 | 500,000 | ||||||
Stock options, balance, weighted average exercise price | $ 2.31 | $ 2.31 | [1] | |||||
Stock options balance, weighted average exercise price | 2.31 | 2.31 | $ 2.31 | [1] | $ 2.31 | |||
Stock options expiring September 20, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | [1] | $ 2.34 | $ 2.34 | |||||
Stock options, balance | 100,000 | 100,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (100,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | [1] | $ 2.34 | ||||||
Stock options balance, weighted average exercise price | [1] | $ 2.34 | ||||||
Stock options expiring November 22, 2015 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | [1] | $ 2.40 | $ 2.40 | |||||
Stock options, balance | 75,000 | 75,000 | ||||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (75,000) | |||||||
Stock options, balance | ||||||||
Stock options, balance, weighted average exercise price | [1] | $ 2.40 | ||||||
Stock options balance, weighted average exercise price | [1] | $ 2.40 | ||||||
Stock options expiring November 22, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.22 | $ 2.22 | $ 2.22 | [1] | $ 2.22 | |||
Stock options, balance | 100,000 | 100,000 | 100,000 | 100,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (100,000) | |||||||
Stock options, balance | 100,000 | 100,000 | ||||||
Stock options, balance, weighted average exercise price | $ 2.22 | $ 2.22 | [1] | |||||
Stock options balance, weighted average exercise price | 2.22 | 2.22 | $ 2.22 | [1] | $ 2.22 | |||
Stock options expiring May 6, 2016 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.33 | $ 1.33 | $ 1.33 | [1] | ||||
Stock options, balance | 65,000 | 65,000 | 65,000 | |||||
Stock options, granted | 100,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (65,000) | |||||||
Stock options, balance | 65,000 | |||||||
Stock options, balance, weighted average exercise price | $ 1.33 | $ 1.33 | [1] | |||||
Stock options balance, weighted average exercise price | 1.33 | $ 1.33 | [1] | |||||
Stock options expiring April 4, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.74 | $ 1.74 | $ 1.74 | [1] | $ 1.74 | |||
Stock options, balance | 90,000 | 90,000 | 90,000 | 90,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 90,000 | 90,000 | 90,000 | 90,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.74 | $ 1.74 | [1] | |||||
Stock options balance, weighted average exercise price | 1.74 | 1.74 | $ 1.74 | [1] | $ 1.74 | |||
Stock options expiring June 8, 2016 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.89 | $ 2.89 | $ 2.89 | [1] | ||||
Stock options, balance | 2,145,000 | 2,270,000 | 2,270,000 | |||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (2,145,000) | (125,000) | ||||||
Stock options, balance | 2,145,000 | |||||||
Stock options, balance, weighted average exercise price | $ 2.89 | $ 2.89 | [1] | |||||
Stock options balance, weighted average exercise price | 2.89 | $ 2.89 | [1] | |||||
Stock options expiring July 14, 2016 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.37 | $ 1.37 | $ 1.37 | [1] | ||||
Stock options, balance | 130,000 | 150,000 | 150,000 | |||||
Stock options, granted | ||||||||
Stock options, exercised | (120,000) | [3] | ||||||
Stock options expired/cancelled | (10,000) | (20,000) | ||||||
Stock options, balance | 130,000 | |||||||
Stock options, balance, weighted average exercise price | $ 1.37 | $ 1.37 | [1] | |||||
Stock options balance, weighted average exercise price | 1.37 | $ 1.37 | [1] | |||||
Stock options expiring May 6, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.41 | $ 1.41 | $ 1.41 | |||||
Stock options, balance | 100,000 | |||||||
Stock options, granted | 100,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 100,000 | 100,000 | 100,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.41 | |||||||
Stock options balance, weighted average exercise price | 1.41 | $ 1.41 | $ 1.41 | |||||
Stock options expiring August 15, 2016 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 2.57 | $ 2.57 | $ 2.57 | [1] | ||||
Stock options, balance | 150,000 | 150,000 | 150,000 | |||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (150,000) | |||||||
Stock options, balance | 150,000 | |||||||
Stock options, balance, weighted average exercise price | $ 2.57 | $ 2.57 | [1] | |||||
Stock options balance, weighted average exercise price | 2.57 | $ 2.57 | [1] | |||||
Stock options expiring June 8, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.44 | $ 1.44 | $ 1.44 | |||||
Stock options, balance | 1,915,000 | |||||||
Stock options, granted | 1,915,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,915,000 | 1,915,000 | 1,915,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.44 | |||||||
Stock options balance, weighted average exercise price | 1.44 | $ 1.44 | $ 1.44 | |||||
Stock options expiring October 10, 2016 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.23 | $ 1.23 | $ 1.23 | [1] | ||||
Stock options, balance | 150,000 | 150,000 | 150,000 | |||||
Stock options, granted | ||||||||
Stock options, exercised | (150,000) | [3] | ||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 150,000 | |||||||
Stock options, balance, weighted average exercise price | $ 1.23 | $ 1.23 | [1] | |||||
Stock options balance, weighted average exercise price | 1.23 | $ 1.23 | [1] | |||||
Stock options expiring June 18, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.46 | $ 1.46 | $ 1.46 | [1] | $ 1.46 | |||
Stock options, balance | 250,000 | 250,000 | 250,000 | 250,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 250,000 | 250,000 | 250,000 | 250,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.46 | $ 1.46 | [1] | |||||
Stock options balance, weighted average exercise price | 1.46 | 1.46 | $ 1.46 | [1] | $ 1.46 | |||
Stock options expiring May 4, 2017 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | $ 1.91 | [1] | ||||
Stock options, balance | 175,000 | 200,000 | 225,000 | 225,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | (25,000) | (25,000) | ||||||
Stock options, balance | 175,000 | 200,000 | ||||||
Stock options, balance, weighted average exercise price | $ 1.91 | $ 1.91 | [1] | |||||
Stock options balance, weighted average exercise price | 1.91 | $ 1.91 | [1] | |||||
Stock options expiring June 29, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.71 | $ 1.71 | $ 1.71 | |||||
Stock options, balance | 15,000 | |||||||
Stock options, granted | 15,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 15,000 | 15,000 | 15,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.71 | |||||||
Stock options balance, weighted average exercise price | 1.71 | $ 1.71 | $ 1.71 | |||||
Stock options expiring August 9, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.91 | $ 1.91 | $ 1.91 | |||||
Stock options, balance | 491,000 | |||||||
Stock options, granted | 491,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 491,000 | 491,000 | 491,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.91 | |||||||
Stock options balance, weighted average exercise price | 1.91 | $ 1.91 | $ 1.91 | |||||
Stock options expiring September 15, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.85 | $ 1.85 | $ 1.85 | |||||
Stock options, balance | 170,000 | |||||||
Stock options, granted | 170,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 170,000 | 170,000 | 170,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.85 | |||||||
Stock options balance, weighted average exercise price | 1.85 | $ 1.85 | $ 1.85 | |||||
First set of stock options expiring December 11, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 0.72 | $ 0.72 | $ 0.72 | $ 0.72 | ||||
Stock options, balance | 724,000 | 756,000 | ||||||
Stock options, granted | 756,000 | |||||||
Stock options, exercised | (134,000) | [2] | (32,000) | |||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 590,000 | 724,000 | 756,000 | 590,000 | ||||
Stock options, balance, weighted average exercise price | $ 0.72 | $ 0.72 | ||||||
Stock options balance, weighted average exercise price | 0.72 | 0.72 | $ 0.72 | $ 0.72 | ||||
Second set of stock options expiring December 11, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.68 | $ 1.68 | $ 1.68 | |||||
Stock options, balance | 150,000 | |||||||
Stock options, granted | 150,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 150,000 | 150,000 | 150,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.68 | |||||||
Stock options balance, weighted average exercise price | 1.68 | $ 1.68 | $ 1.68 | |||||
Stock options expiring January 2, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.04 | $ 1.04 | $ 1.04 | [1] | $ 1.04 | |||
Stock options, balance | 375,000 | 375,000 | 375,000 | 375,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 375,000 | 375,000 | 375,000 | 375,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.04 | $ 1.04 | [1] | |||||
Stock options balance, weighted average exercise price | 1.04 | 1.04 | $ 1.04 | [1] | $ 1.04 | |||
Third set of stock options expiring December 11, 2018 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.80 | $ 1.80 | $ 1.80 | |||||
Stock options, balance | 20,000 | |||||||
Stock options, granted | 20,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 20,000 | 20,000 | 20,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.80 | |||||||
Stock options balance, weighted average exercise price | 1.80 | $ 1.80 | $ 1.80 | |||||
First set of stock options expiring July 2, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.32 | $ 1.32 | $ 1.32 | [1] | $ 1.32 | |||
Stock options, balance | 150,000 | 150,000 | 150,000 | 150,000 | ||||
Stock options, granted | ||||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 150,000 | 150,000 | 150,000 | 150,000 | ||||
Stock options, balance, weighted average exercise price | $ 1.32 | $ 1.32 | [1] | |||||
Stock options balance, weighted average exercise price | 1.32 | $ 1.32 | $ 1.32 | [1] | $ 1.32 | |||
Stock options expiring March 17, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.35 | $ 1.35 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 207,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 207,000 | 207,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.35 | $ 1.35 | ||||||
Stock options expiring May 4, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.99 | $ 1.99 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 175,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 175,000 | 175,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.99 | $ 1.99 | ||||||
Stock options expiring May 19, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.84 | $ 1.84 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 75,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 75,000 | 75,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.84 | $ 1.84 | ||||||
Stock options expiring June 12, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.89 | $ 1.89 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 75,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 75,000 | 75,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.89 | $ 1.89 | ||||||
Second set of stock options expiring July 2, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.19 | $ 1.19 | $ 1.19 | |||||
Stock options, balance | 60,000 | |||||||
Stock options, granted | 60,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 60,000 | 60,000 | 60,000 | |||||
Stock options, balance, weighted average exercise price | $ 1.19 | |||||||
Stock options balance, weighted average exercise price | 1.19 | $ 1.19 | $ 1.19 | |||||
Third set of stock options expiring July 2, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.34 | $ 1.34 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 1,427,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,427,000 | 1,427,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.34 | $ 1.34 | ||||||
Stock options expiring September 19, 2019 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.40 | $ 1.40 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 1,160,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,160,000 | 1,160,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.40 | $ 1.40 | ||||||
First set of stock options expiring April 30, 2020 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.53 | $ 1.53 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 500,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 500,000 | 500,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.53 | $ 1.53 | ||||||
Second set of stock options expiring April 30, 2020 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.14 | $ 1.14 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 100,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 100,000 | 100,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.14 | $ 1.14 | ||||||
Stock options expiring September 30, 2020 [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Stock Options, exercise price | $ 1.25 | $ 1.25 | ||||||
Stock options, balance | ||||||||
Stock options, granted | 1,195,000 | |||||||
Stock options, exercised | ||||||||
Stock options expired/cancelled | ||||||||
Stock options, balance | 1,195,000 | 1,195,000 | ||||||
Stock options balance, weighted average exercise price | $ 1.25 | $ 1.25 | ||||||
[1] | On August 20, 2015, the Company adjusted the exercise price on outstanding stock options proportionately to reflect the value transferred to Almadex. The weighted average exercise price as at December 31, 2014 changed, from $2.29 to $2.05. | |||||||
[2] | In accordance with the Company's stock option plan, options holders exercised 350,000; 1,150,000 and 92,000 stock options on a cashless basis at an exercise price of $0.98, $0.74 and $0.72 respectively. The total number of shares issued in connection with the cashless exercise of options was 532,836. | |||||||
[3] | In accordance with the Company's stock option plan, options holders exercised 105,000 and 150,000 stock options on a cashless basis at an exercise price of $1.37 and $1.23. The total number of shares issued in connection with the cashless exercise of options was 63,510. |
Note 12 - Share Capital and R65
Note 12 - Share Capital and Reserves - Share Option Fair Value Assumptions (Details) | 12 Months Ended | 36 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017CAD ($) | |
Stock options granted December 22, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,195,000 | |||
Fair value per share, stock options | $ 0.62 | |||
Risk free interest rate, stock options | 1.71% | |||
Expected life, stock options | 3 | |||
Expected volatility, stock options | 65.20% | |||
Expected dividends, stock options | ||||
Stock options granted November 23, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 100,000 | |||
Fair value per share, stock options | $ 0.50 | |||
Risk free interest rate, stock options | 1.46% | |||
Expected life, stock options | 3 | |||
Expected volatility, stock options | 63.93% | |||
Expected dividends, stock options | ||||
Stock options granted September 12, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 500,000 | |||
Fair value per share, stock options | $ 0.55 | |||
Risk free interest rate, stock options | 1.59% | |||
Expected life, stock options | 2.5 | |||
Expected volatility, stock options | 63.12% | |||
Expected dividends, stock options | ||||
Stock options granted August 25, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,160,000 | |||
Fair value per share, stock options | $ 0.48 | |||
Risk free interest rate, stock options | 1.24% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 62.80% | |||
Expected dividends, stock options | ||||
Stock options granted June 12, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 75,000 | |||
Fair value per share, stock options | $ 0.63 | |||
Risk free interest rate, stock options | 0.88% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 65.95% | |||
Expected dividends, stock options | ||||
Stock options granted May 19, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 75,000 | |||
Fair value per share, stock options | $ 0.60 | |||
Risk free interest rate, stock options | 0.72% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 65.65% | |||
Expected dividends, stock options | ||||
Stock options granted May 4, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 175,000 | |||
Fair value per share, stock options | $ 0.63 | |||
Risk free interest rate, stock options | 0.71% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 65.77% | |||
Expected dividends, stock options | ||||
Stock options granted March 17, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 207,000 | |||
Fair value per share, stock options | $ 0.47 | |||
Risk free interest rate, stock options | 0.80% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 61.28% | |||
Expected dividends, stock options | ||||
Stock options granted January 11, 2017 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,427,000 | |||
Fair value per share, stock options | $ 0.54 | |||
Risk free interest rate, stock options | 0.75% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 68.94% | |||
Expected dividends, stock options | ||||
Stock options granted December 21, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 60,000 | |||
Fair value per share, stock options | $ 0.42 | |||
Risk free interest rate, stock options | 0.83% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 70.18% | |||
Expected dividends, stock options | ||||
Stock options granted November 2, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 20,000 | |||
Fair value per share, stock options | $ 0.69 | |||
Risk free interest rate, stock options | 0.54% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 68.31% | |||
Expected dividends, stock options | ||||
Stock options granted October 6, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 150,000 | |||
Fair value per share, stock options | $ 0.57 | |||
Risk free interest rate, stock options | 0.60% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 68.47% | |||
Expected dividends, stock options | ||||
Stock options granted September 15, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 170,000 | |||
Fair value per share, stock options | $ 0.70 | |||
Risk free interest rate, stock options | 0.58% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 68.08% | |||
Expected dividends, stock options | ||||
Stock options granted August 9, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 491,000 | |||
Fair value per share, stock options | $ 0.76 | |||
Risk free interest rate, stock options | 0.50% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 67.52% | |||
Expected dividends, stock options | ||||
Stock options granted June 29, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 15,000 | |||
Fair value per share, stock options | $ 0.87 | |||
Risk free interest rate, stock options | 0.54% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 66.44% | |||
Expected dividends, stock options | ||||
Stock options granted June 8, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,915,000 | |||
Fair value per share, stock options | $ 0.62 | |||
Risk free interest rate, stock options | 0.54% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 64.68% | |||
Expected dividends, stock options | ||||
Stock options expiring May 6, 2016 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 100,000 | |||
Fair value per share, stock options | $ 0.52 | |||
Risk free interest rate, stock options | 0.54% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 63.84% | |||
Expected dividends, stock options | ||||
Stock options granted December 11, 2015 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 756,000 | |||
Fair value per share, stock options | $ 0.29 | |||
Risk free interest rate, stock options | 0.40% | |||
Expected life, stock options | 3 | |||
Expected volatility, stock options | 55.79% | |||
Expected dividends, stock options | ||||
Stock options granted August 26, 2015 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,445,000 | |||
Fair value per share, stock options | $ 0.20 | |||
Risk free interest rate, stock options | 0.53% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 58.76% | |||
Expected dividends, stock options | ||||
Stock options granted January 6, 2015 [member] | ||||
Statement Line Items [Line Items] | ||||
Stock options, granted | 1,180,000 | |||
Fair value per share, stock options | $ 0.37 | |||
Risk free interest rate, stock options | 0.56% | |||
Expected life, stock options | 2 | |||
Expected volatility, stock options | 52.37% | |||
Expected dividends, stock options |
Note 13 - Related Party Trans66
Note 13 - Related Party Transactions and Balances (Details Textual) - CAD ($) | Aug. 01, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Statement Line Items [Line Items] | ||||
Payments to related party services | $ 3,099,570 | $ 2,333,535 | $ 1,513,373 | |
Hawk Mountain Resources Ltd. [member] | ||||
Statement Line Items [Line Items] | ||||
Payments to related party services | 193,333 | |||
Almadex [member] | ||||
Statement Line Items [Line Items] | ||||
Recovered administrative expenses from a spin off arrangement | 30.00% | |||
Administrative income from fees incurred during spin off | 499,798 | 464,498 | 181,405 | |
Amounts receivable, related party transactions | 195,551 | 149,429 | ||
Almadex [member] | Drill equipment [member] | ||||
Statement Line Items [Line Items] | ||||
Outstanding commitments made on behalf of entity, related party transactions | 153,038 | 63,429 | ||
Company controlled by a director [member] | ||||
Statement Line Items [Line Items] | ||||
Payments to related party services | 1,200 | |||
Chairman's daughter [member] | ||||
Statement Line Items [Line Items] | ||||
Related party, salary contracted | $ 43,800 | $ 38,800 | $ 43,225 |
Note 13 - Related Party Trans67
Note 13 - Related Party Transactions and Balances - Schedule of Related Party Payments (Details) - CAD ($) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Statement Line Items [Line Items] | ||||
Salaries and benefits | $ 813,400 | $ 755,475 | $ 740,208 | [1] |
Share-based payments | 2,216,170 | 1,537,060 | 725,165 | |
Directors’ fees | 70,000 | 41,000 | 48,000 | |
Total | $ 3,099,570 | $ 2,333,535 | $ 1,513,373 | |
[1] | For the year ended December 31, 2015, Hawk Mountain Resources Ltd. ("Hawk Mountain"), a private company of which the Chairman of the Company is a shareholder, was paid $193,333 for geological services provided to the Company and is recorded in general exploration expenses. The services agreement with Hawk Mountain was terminated effective December 31, 2015. Effective January 1, 2016, the Company entered into an employment contract with the Chairman directly. |
Note 14 - Income on Explorati68
Note 14 - Income on Exploration and Evaluation Assets - Schedule of Income From Exploration and Evaluation Assets (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Income on exploration and evaluation assets | $ 0 | $ 0 | $ 32,920 |
Note 15 - Net Loss Per Share (D
Note 15 - Net Loss Per Share (Details Textual) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Profit (loss) from continuing operations | $ (5,231,295) | $ (4,023,504) | $ (1,144,525) |
Weighted average number of ordinary shares outstanding | 95,873,417 | 82,322,754 | 73,248,803 |
Note 16 - Supplemental Cash F70
Note 16 - Supplemental Cash Flow Information - Schedule of Cash Flow Information (Details) - CAD ($) | Nov. 25, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Statement Line Items [Line Items] | |||||
Exploration and evaluation assets expenditures included in trade and other payables | $ 493,943 | $ 535,254 | $ 265,393 | ||
Contribution from spin-out assets; recognition of Exploration and evaluation cost reclassified from share capital | 184,169 | ||||
Residual value of warrants classified to reserves from share capital | 180,267 | ||||
Fair value of finders’ warrants | 180,691 | 17,918 | 19,325 | ||
Fair value of shares issued pursuant to mill option agreement | $ 273,358 | 273,358 | |||
Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants | |||||
Fair value of cash stock options transferred to share capital on exercise of options | 496,859 | 43,180 | |||
Fair value of cashless stock options transferred to share capital on exercise of options | |||||
Cash | 1,449,184 | 1,427,306 | |||
Term Deposits | 14,885,350 | 8,342,700 | |||
Total cash and cash equivalents | 16,334,534 | 9,770,006 | 6,222,778 | $ 8,172,598 | |
Issued capital [member] | |||||
Statement Line Items [Line Items] | |||||
Fair value of finders’ warrants transferred to share capital on exercise of finders’ warrants | 12,797 | 5,984 | |||
Fair value of cashless stock options transferred to share capital on exercise of options | $ 387,930 | $ 108,300 |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - CAD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | ||||
Applicable tax rate | 26.00% | 26.00% | 26.00% | |
British Columbia [member] | ||||
Statement Line Items [Line Items] | ||||
Applicable tax rate | 11.00% | |||
British Columbia [member] | Changes in tax rates or tax laws enacted or announced [member] | ||||
Statement Line Items [Line Items] | ||||
Applicable tax rate | 12.00% | |||
Federal and Provincial British Columbia [member] | ||||
Statement Line Items [Line Items] | ||||
Applicable tax rate | 26.00% | |||
Federal and Provincial British Columbia [member] | Changes in tax rates or tax laws enacted or announced [member] | ||||
Statement Line Items [Line Items] | ||||
Applicable tax rate | 27.00% | |||
Canada [member] | ||||
Statement Line Items [Line Items] | ||||
Operating loss carryforwards | $ 15,706,045 | $ 13,184,889 | ||
Mexico [member] | ||||
Statement Line Items [Line Items] | ||||
Operating loss carryforwards | $ 16,378,174 | $ 15,415,208 |
Note 17 - Income Taxes - Schedu
Note 17 - Income Taxes - Schedule of Deferred Income Taxes (Details) - CAD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Line Items [Line Items] | |||
Loss before income taxes | $ (5,231,295) | $ (4,023,504) | $ (1,549,125) |
Statutory rate | 26.00% | 26.00% | 26.00% |
Expected income tax | $ (1,360,137) | $ (1,046,111) | $ (402,773) |
Effect of different tax rates in foreign jurisdictions | 9,728 | 343 | (8,855) |
Non-deductible share-based payments | 700,198 | 485,943 | 247,192 |
Other permanent items | 3,360 | 2,022 | 213,166 |
Change in deferred tax assets not recognized | 1,921,226 | 3,518,776 | (574,942) |
Impact of change in tax rates | (348,020) | ||
Impact of change in expected manner of recovery | 853,274 | (306,411) | |
Share issuance costs | (399,602) | (39,241) | (21,723) |
True-ups and other | (526,753) | (3,775,006) | 449,746 |
Deferred income tax (recovery) expenses | $ (404,600) |
Note 17 - Income Taxes - Deferr
Note 17 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets | ||
Non-capital losses | $ 4,282,555 | $ 4,570,832 |
Deferred tax liabilities | ||
Exploration and evaluation assets | (5,717,437) | (6,005,714) |
Net deferred tax liabilities | $ (1,434,882) | $ (1,434,882) |
Note 17 - Income Taxes - Deduct
Note 17 - Income Taxes - Deductible Temporary Differences (Details) - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Line Items [Line Items] | ||
Deductible temporary differences | $ 53,099,667 | $ 47,367,108 |
Non-capital loss carry forwards [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 17,803,193 | 13,238,619 |
Capital loss carry forwards [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 24,538,993 | 24,538,993 |
Exploration and evaluation assets deductible differences [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 8,221,842 | 8,221,842 |
Share issue costs [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 1,778,234 | 548,690 |
Property, plant and equipment deductible temporary differences [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 10,127 | 33,492 |
Cumulative eligible capital deduction [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | 507,429 | 545,623 |
Investment tax credit [member] | ||
Statement Line Items [Line Items] | ||
Deductible temporary differences | $ 239,849 | $ 239,849 |
Note 18 - Commitments - Remaini
Note 18 - Commitments - Remaining Payments Due (Details) | Dec. 31, 2017CAD ($) |
Statement Line Items [Line Items] | |
Office lease | $ 647,234 |
Executive contracts | 1,295,000 |
Office lease and executive contracts | 1,942,234 |
Not later than one year [member] | |
Statement Line Items [Line Items] | |
Office lease | 148,410 |
Executive contracts | 575,000 |
Office lease and executive contracts | 723,410 |
Later than one year and not later than two years [member] | |
Statement Line Items [Line Items] | |
Office lease | 150,884 |
Executive contracts | 240,000 |
Office lease and executive contracts | 390,884 |
Later than two years and not later than three years [member] | |
Statement Line Items [Line Items] | |
Office lease | 154,182 |
Executive contracts | 240,000 |
Office lease and executive contracts | 394,182 |
Later than three years and not later than four years [member] | |
Statement Line Items [Line Items] | |
Office lease | 155,006 |
Executive contracts | 240,000 |
Office lease and executive contracts | 395,006 |
Later than four years and not later than five years [member] | |
Statement Line Items [Line Items] | |
Office lease | 38,752 |
Executive contracts | |
Office lease and executive contracts | $ 38,752 |
Note 19 - Financial Instrumen76
Note 19 - Financial Instruments (Details Textual) | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Statement Line Items [Line Items] | |
Possible effect of 10% change in exchange rate regarding the USD to the net income (loss) | $ 340,000 |
Possible effect of 10% change in exchange rate regarding the MXN to the net income (loss) | 10,000 |
Possible effect of 1% change in the interest rate to the net income (loss) | $ 149,000 |
Note 19 - Financial Instrumen77
Note 19 - Financial Instruments - Assets and Liabilities (Details) - Dec. 31, 2017 | USD ($) | MXN ($) |
Statement Line Items [Line Items] | ||
Financial assets | $ 3,582,298 | $ 97,264 |
Financial liabilities | 183,904 | 194,083 |
Net assets | 3,398,394 | (96,819) |
Financial liabilities at amortised cost, category [member] | Trade and other payables [member] | ||
Statement Line Items [Line Items] | ||
Financial liabilities | 183,904 | 194,083 |
Loans and receivables, category [member] | Cash and cash equivalents [member] | ||
Statement Line Items [Line Items] | ||
Financial assets | 3,578,279 | 97,264 |
Loans and receivables, category [member] | Trade receivables [member] | ||
Statement Line Items [Line Items] | ||
Financial assets | $ 4,019 |
Note 20 - Management of Capit78
Note 20 - Management of Capital (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2017CAD ($) | |
Statement Line Items [Line Items] | |
Dividends recognised as distributions to owners | $ 0 |
Note 21 - Segmented Informati79
Note 21 - Segmented Information (Details Textual) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Line Items [Line Items] | |
Number of reportable segments | 1 |
Note 21 - Segmented Informati80
Note 21 - Segmented Information - Schedule of Non-current Assets (Details) - CAD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Line Items [Line Items] | ||
Non-current assets | $ 50,099,699 | $ 37,362,991 |
Canada [member] | ||
Statement Line Items [Line Items] | ||
Non-current assets | 366,450 | 89,950 |
United States [member] | ||
Statement Line Items [Line Items] | ||
Non-current assets | 4,923,209 | 1,280,383 |
Mexico [member] | ||
Statement Line Items [Line Items] | ||
Non-current assets | $ 44,810,040 | $ 35,992,658 |
Note 22 - Subsequent Events (De
Note 22 - Subsequent Events (Details Textual) - Employees, officers and directors [member] - Major stock option transactions [member] | Feb. 07, 2018CAD ($) |
Statement Line Items [Line Items] | |
Number of share options granted in share-based payment arrangement | 300,000 |
Fair value exercise price of share options granted in share-based payment arrangment | $ 1.11 |