Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Nov. 30, 2013 | Jan. 13, 2014 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Nov-13 | ' |
Trading Symbol | 'sggv | ' |
Entity Registrant Name | 'STERLING GROUP VENTURES INC | ' |
Entity Central Index Key | '0001175416 | ' |
Current Fiscal Year End Date | '--05-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 75,730,341 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Nov. 30, 2013 | 31-May-13 |
Current Assets | ' | ' |
Cash and cash equivalents | $1,840,997 | $2,036,805 |
GST/HST receivable | 16,890 | 13,947 |
Prepaid expenses and other receivable | 14,027 | 24,365 |
Total current assets | 1,871,914 | 2,075,117 |
Equipment | 178,484 | 196,353 |
Environmental deposit | 129,580 | 128,696 |
Mineral Properties | 3,148,740 | 3,148,740 |
Total Assets | 5,328,718 | 5,548,906 |
Current Liabilities | ' | ' |
Accounts payable and other accrued liabilities | 472,859 | 478,934 |
Total Current Liability | 472,859 | 478,934 |
Deferred income tax liability | 732,687 | 732,687 |
Total Liabilities | 1,205,546 | 1,211,621 |
Stockholders' Equity | ' | ' |
Common Stock : $0.001 Par Value Authorized : 500,000,000 Issued and Outstanding : 75,730,341 (May 31, 2013: 75,730,341) | 75,730 | 75,730 |
Additional Paid In Capital | 10,724,416 | 10,724,416 |
Accumulated Other Comprehensive Loss | -582 | -582 |
Deficit accumulated during the exploration stage | -6,676,392 | -6,462,279 |
Total Stockholders' Equity | 4,123,172 | 4,337,285 |
Total Liabilities and Stockholders' Equity | $5,328,718 | $5,548,906 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Nov. 30, 2013 | 31-May-13 |
Common Stock, Par Value Per Share | $0.00 | $0.00 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 75,730,341 | 75,730,341 |
Common Stock, Shares, Outstanding | 75,730,341 | 75,730,341 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | 232 Months Ended | ||
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
Expenses | ' | ' | ' | ' | ' |
Accounting, audit, legal and professional fees | $23,927 | $41,163 | $46,027 | $69,774 | $770,918 |
Bank charges | 125 | 585 | 241 | 842 | 4,430 |
Consulting fees | 6,263 | 6,547 | 12,518 | 12,835 | 4,797,920 |
Depreciation | 11,597 | 7,496 | 23,041 | 11,655 | 66,636 |
Filing fees and transfer agent | 3,874 | 2,047 | 7,499 | 6,865 | 78,389 |
Foreign exchange loss (gain) | -5,556 | -19,426 | -12,152 | -9,342 | -72,411 |
General and administrative | 192 | 605 | 667 | 1,094 | 129,536 |
Mineral property costs | 45,643 | 200,197 | 140,734 | 346,146 | 2,088,750 |
Printing and mailing | 274 | 0 | 274 | 0 | 23,115 |
Shareholder information and investor relations | 1,800 | 1,629 | 3,500 | 3,328 | 174,343 |
Travel and entertainment | 0 | 151 | 0 | 3,120 | 160,875 |
Recovery of doubtful collection | 0 | 0 | 0 | 0 | -272,358 |
Allowance for doubtful collection | 0 | 0 | 0 | 0 | 246,708 |
Total Operating Expenses | -88,139 | -240,994 | -222,349 | -446,317 | -8,196,851 |
Other items | ' | ' | ' | ' | ' |
Interest income | 571 | 3,291 | 2,210 | 8,157 | 52,845 |
Other income | 0 | 0 | 6,026 | 1,461,588 | 1,467,614 |
Nonoperating income (expense), total | 571 | 3,291 | 8,236 | 1,469,745 | 1,520,459 |
Net income (loss) for the period | -87,568 | -237,703 | -214,113 | 1,023,428 | -6,676,392 |
Currency translation adjustment | 0 | 0 | 0 | 0 | -582 |
Comprehensive income (loss) for the period | ($87,568) | ($237,703) | ($214,113) | $1,023,428 | ($6,676,974) |
Basic and diluted income (loss) per share | $0 | $0 | $0 | $0.01 | ' |
Weighted average number of shares outstanding | 75,730,341 | 75,730,341 | 75,730,341 | 75,730,341 | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | 232 Months Ended | |
Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2013 | |
Cash flows from operating activities | ' | ' | ' |
Net income (loss) for the period | ($214,113) | $1,023,428 | ($6,676,392) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ' | ' | ' |
Stock compensation expenses | 0 | 0 | 3,995,650 |
Depreciation | 23,041 | 11,655 | 66,636 |
Permit and engineering studies | 0 | 0 | 150,000 |
Shareholder information and investor relations | 0 | 0 | 100,947 |
Accounting, audit and legal fees | 0 | 0 | 49,000 |
Unrealized foreign exchange | -2,254 | -6,578 | -5,659 |
Changes in non-cash working capital items related to operations | ' | ' | ' |
GST/HST refundable | -2,943 | 10,382 | -16,890 |
Prepaid expenses and other receivable | 10,439 | 13,792 | 8,586 |
Accounts payable and accrued liabilities | 959 | 21,893 | 559,545 |
Net cash provided by (used in) operating activities | -184,871 | 1,074,572 | -1,768,577 |
Cash flows from investing activities | ' | ' | ' |
Advance on investment | 0 | 0 | -205,945 |
Additions to equipment | -3,903 | -34,991 | -249,661 |
Additions to mineral properties | 0 | 0 | -280,651 |
Net cash provided by (used in) investing activities | -3,903 | -34,991 | -736,257 |
Cash flows from financing activities | ' | ' | ' |
Net proceeds on issuance of common stock | 0 | 0 | 4,411,158 |
Amounts contributed by(repaid to) director | -7,034 | 11,839 | -65,327 |
Net cash provided by (used in) financing activities | -7,034 | 11,839 | 4,345,831 |
Net increase (decrease) in cash | -195,808 | 1,051,420 | 1,840,997 |
Cash and cash equivalents - beginning of period | 2,036,805 | 1,262,278 | 0 |
Cash and cash equivalents - end of period | 1,840,997 | 2,313,698 | 1,840,997 |
Supplemental Information : | ' | ' | ' |
Interest | 0 | 0 | 0 |
Income taxes | 0 | 0 | 0 |
Non-cash Transactions : | ' | ' | ' |
Issuance of shares for commission paid to broker for private placement | 0 | 0 | 147,646 |
Issuance of shares for services rendered | 0 | 0 | 171,500 |
Issuance of shares for settlement of accounts payable | 0 | 0 | 19,480 |
Issuance of share purchase warrants for finder's fee paid to broker for private placement | 0 | 0 | 11,477 |
Issuance of shares for acquisition of the subsidiary | $0 | $0 | $2,200,000 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (CAPITAL DEFICIT) (USD $) | Common Stock [Member] | Additional Paid In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deficit Accumulated During the Exploration Stage [Member] | Total |
Beginning Balance at Jul. 27, 1994 | ' | ' | ' | ' | ' |
Common stock | $1 | ' | ' | ' | $1 |
Common stock (Shares) | 1 | ' | ' | ' | ' |
Amount contributed by director | ' | 1,881 | ' | ' | 1,881 |
Net loss for the year | ' | ' | ' | -7,902 | -7,902 |
Ending Balance at May. 31, 2001 | 1 | 1,881 | ' | -7,902 | -6,020 |
Ending Balance (Shares) at May. 31, 2001 | 1 | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | -1,860 | -1,860 |
Ending Balance at May. 31, 2002 | 1 | 1,881 | ' | -9,762 | -7,880 |
Ending Balance (Shares) at May. 31, 2002 | 1 | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | -1,360 | -1,360 |
Ending Balance at May. 31, 2003 | 1 | 1,881 | ' | -11,122 | -9,240 |
Beginning Balance (Shares) at May. 31, 2003 | 1 | ' | ' | ' | ' |
Reverse acquisition | -1 | -1,881 | ' | ' | -1,882 |
Reverse acquisition (Shares) | -1 | ' | ' | ' | ' |
Issuance of common shares for reverse acquisition | 25,000 | -23,119 | ' | ' | 1,881 |
Issuance of common shares for reverse acquisition (Shares) | 25,000,000 | ' | ' | ' | ' |
Outstanding common shares of Company prior to acquisition | 11,360 | -10,883 | -583 | ' | -106 |
Outstanding common shares of Company prior to acquisition (Shares) | 11,360,000 | ' | ' | ' | ' |
Issuance of shares for cash pursuant to a private placement - at $0.50 | 1,766 | 881,234 | ' | ' | 883,000 |
Issuance of shares for cash pursuant to a private placement - at $0.50 (Shares) | 1,766,000 | ' | ' | ' | ' |
Stock-based compensation | ' | 368,641 | ' | ' | 368,641 |
Net loss for the year | ' | ' | ' | -527,446 | -527,446 |
Ending Balance at May. 31, 2004 | 38,126 | 1,215,873 | -583 | -538,568 | 714,848 |
Ending Balance (Shares) at May. 31, 2004 | 38,126,000 | ' | ' | ' | ' |
Issuance of shares for cash pursuant to a private placement - at $0.50 | 1,950 | 973,050 | ' | ' | 975,000 |
Issuance of shares for cash pursuant to a private placement - at $0.50 (Shares) | 1,950,000 | ' | ' | ' | ' |
Issuance of shares for finder's fee of private placement | 102 | 50,648 | ' | ' | 50,750 |
Issuance of shares for finder's fee of private placement (Shares) | 101,500 | ' | ' | ' | ' |
Finders' fees | ' | -50,750 | ' | ' | -50,750 |
Issuance of shares for services rendered | 100 | 41,900 | ' | ' | 42,000 |
Issuance of shares for services rendered (Shares) | 100,000 | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | -818,954 | -818,954 |
Ending Balance at May. 31, 2005 | 40,278 | 2,230,721 | -583 | -1,357,522 | 912,894 |
Ending Balance (Shares) at May. 31, 2005 | 40,277,500 | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | -461,201 | -461,201 |
Ending Balance at May. 31, 2006 | 40,278 | 2,230,721 | -583 | -1,818,723 | 451,693 |
Beginning Balance (Shares) at May. 31, 2006 | 40,277,500 | ' | ' | ' | ' |
Issuance of shares for cash pursuant to a private placement - at $0.15 | 2,750 | 409,795 | ' | ' | 412,545 |
Issuance of shares for cash pursuant to a private placement - at $0.15 (Shares) | 2,750,300 | ' | ' | ' | ' |
Issuance of shares for finder's fee of private placement | 124 | 21,522 | ' | ' | 21,646 |
Issuance of shares for finder's fee of private placement (Shares) | 123,690 | ' | ' | ' | ' |
Finders' fees | ' | -21,646 | ' | ' | -21,646 |
Share issuance costs | ' | -3,687 | ' | ' | -3,687 |
Issuance of shares for services rendered | 350 | 48,650 | ' | ' | 49,000 |
Issuance of shares for services rendered (Shares) | 350,000 | ' | ' | ' | ' |
Net loss for the year | ' | ' | ' | -864,485 | -864,485 |
Ending Balance at May. 31, 2007 | 43,502 | 2,685,355 | -583 | -2,683,208 | 45,066 |
Ending Balance (Shares) at May. 31, 2007 | 43,501,490 | ' | ' | ' | ' |
Issuance of shares for services rendered at $0.06 | 324 | 19,156 | ' | ' | 19,480 |
Issuance of shares for services rendered at $0.06 (Shares) | 324,685 | ' | ' | ' | ' |
Revaluation of share purchase warrants | ' | 409,525 | ' | ' | 409,525 |
Net loss for the year | ' | ' | ' | -516,440 | -516,440 |
Ending Balance at May. 31, 2008 | 43,826 | 3,114,036 | -583 | -3,199,648 | -42,369 |
Ending Balance (Shares) at May. 31, 2008 | 43,826,175 | ' | ' | ' | ' |
Revaluation of share purchase warrants | ' | 83,852 | ' | ' | 83,852 |
Net loss for the year | ' | ' | ' | -245,405 | -245,405 |
Ending Balance at May. 31, 2009 | 43,826 | 3,197,888 | -583 | -3,445,053 | -203,922 |
Ending Balance (Shares) at May. 31, 2009 | 43,826,175 | ' | ' | ' | ' |
Revaluation of share purchase warrants | ' | 91,704 | ' | ' | 91,704 |
Net loss for the year | ' | ' | ' | -213,704 | -213,704 |
Ending Balance at May. 31, 2010 | 43,826 | 3,289,592 | -583 | -3,658,757 | -325,922 |
Beginning Balance (Shares) at May. 31, 2010 | 43,826,175 | ' | ' | ' | ' |
Issuance of shares for cash pursuant to a private placement - at $0.10 | 20,000 | 1,980,000 | ' | ' | 2,000,000 |
Issuance of shares for cash pursuant to a private placement - at $0.10 (Shares) | 20,000,000 | ' | ' | ' | ' |
Issuance of shares for finder's fee of private placement | 752 | -752 | ' | ' | ' |
Issuance of shares for finder's fee of private placement (Shares) | 752,500 | ' | ' | ' | ' |
Issuance of shares for execise of "C" warrants - at $0.18 | 802 | 143,498 | ' | ' | 144,300 |
Issuance of shares for execise of "C" warrants - at $0.18 (Shares) | 801,666 | ' | ' | ' | ' |
Issuance of shares for services rendered | 350 | 80,150 | ' | ' | 80,500 |
Issuance of shares for services rendered (Shares) | 350,000 | ' | ' | ' | ' |
Stock-based compensation | ' | 1,692,526 | ' | ' | 1,692,526 |
Currency translation adjustment | ' | ' | 1 | ' | 1 |
Net loss for the year | ' | ' | ' | -1,863,448 | -1,863,448 |
Ending Balance at May. 31, 2011 | 65,730 | 7,185,014 | -582 | -5,522,205 | 1,727,957 |
Ending Balance (Shares) at May. 31, 2011 | 65,730,341 | ' | ' | ' | ' |
Issuance of shares for acquisition of the subsidiary - at $0.22 | 10,000 | 2,190,000 | ' | ' | 2,200,000 |
Issuance of shares for acquisition of the subsidiary - at $0.22 (Shares) | 10,000,000 | ' | ' | ' | ' |
Stock-based compensation | ' | 424,479 | ' | ' | 424,479 |
Net loss for the year | ' | ' | ' | -820,745 | -820,745 |
Ending Balance at May. 31, 2012 | 75,730 | 9,799,493 | -582 | -6,342,950 | 3,531,691 |
Ending Balance (Shares) at May. 31, 2012 | 75,730,341 | ' | ' | ' | ' |
Stock-based compensation | ' | 924,923 | ' | ' | 924,923 |
Net loss for the year | ' | ' | ' | -119,329 | -119,329 |
Ending Balance at May. 31, 2013 | 75,730 | 10,724,416 | -582 | -6,462,279 | 4,337,285 |
Ending Balance (Shares) at May. 31, 2013 | 75,730,341 | ' | ' | ' | ' |
Issuance of shares for services rendered | ' | ' | ' | ' | 0 |
Net loss for the year | ' | ' | ' | -214,113 | -214,113 |
Ending Balance at Nov. 30, 2013 | $75,730 | $10,724,416 | ($582) | ($6,676,392) | $4,123,172 |
Ending Balance (Shares) at Nov. 30, 2013 | 75,730,341 | ' | ' | ' | ' |
Nature_of_Operations_and_Abili
Nature of Operations and Ability to Continue as a Going Concern | 6 Months Ended | |
Nov. 30, 2013 | ||
Nature of Operations and Ability to Continue as a Going Concern [Text Block] | ' | |
Note 1 | Nature of Operations and Ability to Continue as a Going Concern | |
Sterling Group Ventures, Inc. was incorporated in the State of Nevada on September 13, 2001 and its fiscal year-end is May 31. On January 20, 2004, the Company acquired all of the issued and outstanding shares of Micro Express Ltd. (“Micro”), which was incorporated on July 27, 1994. The business combination was accounted for as a reverse acquisition whereby the purchase method of accounting was used with Micro being the accounting acquirer and the Company being the accounting subsidiary. The cumulative figures are shown on a reverse acquisition basis with respect to the accounting acquirer’s date of inception, July 27, 1994. | ||
Sterling Group Ventures, Inc. (the “Company”) is in the exploration stage. The Company has entered into joint venture agreements to explore and develop mineral properties located in China and has not yet determined whether these properties contain reserves that are economically recoverable. The recoverability of amounts from these properties will be dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain necessary financing to satisfy the expenditure requirements under the joint venture agreements and to complete the development of the properties and upon future profitable production or proceeds from the sale thereof. | ||
These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown as these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company incurred a net loss of $214,113 during the period ended November 30, 2013 and at November 30, 2013 had a cumulative loss of $6,676,392 since its inception and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available. | ||
These condensed interim financial statements should be read in conjunction with the annual audited financial statements of the Company for the fiscal year ended May 31, 2013, included in the Company’s 10 -K Annual Report as filed with the United States Securities and Exchange Commission. | ||
These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Micro Express Holdings Inc., Micro Express Ltd., Huyana Ventures Limited, Makaelo Holdings Inc., Makaelo Limited, Silver Castle Investments Limited (“Silver Castle”) and its 100% controlled subsidiary, Chenxi County Hongyu Mining Co. Ltd. ("Hongyu"). All inter-company transactions and account balances have been eliminated. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | ||
Nov. 30, 2013 | |||
Recent Accounting Pronouncements [Text Block] | ' | ||
Note 2 | Recent Accounting Pronouncements | ||
The Company has evaluated all the recent accounting pronouncements and believes that none of them will have a material effect on the Company’s consolidated financial statements. | |||
On June 1, 2013, the Company adopted ASU No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. ” The new guidance clarifies the scope of the offsetting disclosures and addresses any unintended consequences as a result of ASU No. 2011-11, “ Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. ” The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. | |||
On June 1, 2013, the Company adopted ASU No. 2013-02, “ Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The new guidance requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. | |||
On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following: | |||
• | The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors. | ||
• | Any additional amounts the reporting entity expects to pay on behalf of its co-obligors. | ||
On March 4, 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not anticipate that these changes will have a material impact on its consolidated financial statements or disclosures. | |||
On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position. | |||
In July 2013, the FASB issued ASU 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists" ("ASU 2013-11"), which sets forth explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidance is effective for fiscal years, and interim periods beginning after December 15, 2013, with early adoption permitted. The adoption of ASU 2013-11 will not have a material impact on the Company's financial position or results of operations. |
Mineral_Properties
Mineral Properties | 6 Months Ended | |||||||||
Nov. 30, 2013 | ||||||||||
Mineral Properties [Text Block] | ' | |||||||||
Note 3 | Mineral Properties | |||||||||
A summary of mineral properties costs for the cumulative period from date of inception (July 27, 1994) to November 30, 2013 were incurred and accounted for in the consolidated statement of operations as follows: | ||||||||||
DXC | Gaoping | |||||||||
Salt Lake | Phosphate | |||||||||
Summary of mineral property expenditures | Property | Property | Total | |||||||
Balance, May 31, 2005 | $ | - | $ | - | ||||||
Administrative | 5,560 | - | 5,560 | |||||||
Consulting fees | 46,629 | - | 46,629 | |||||||
Engineering studies | 26,933 | - | 26,933 | |||||||
Feasibility study | 29,080 | - | 29,080 | |||||||
Geophysical study | 31,114 | - | 31,114 | |||||||
Legal fees | 623 | - | 623 | |||||||
Topography measurement | 32,266 | - | 32,266 | |||||||
Travel | 30,953 | - | 30,953 | |||||||
Wages and benefits | 33,601 | - | 33,601 | |||||||
Balance, May 31, 2006 | 236,759 | - | 236,759 | |||||||
Administrative | 5,200 | - | 5,200 | |||||||
Consulting fees | 134,580 | - | 134,580 | |||||||
Engineering studies | 38,063 | - | 38,063 | |||||||
Mining permit | 382,920 | - | 382,920 | |||||||
Topography measurement | 15,001 | - | 15,001 | |||||||
Legal fees | 9,695 | - | 9,695 | |||||||
Travel | 53,262 | - | 53,262 | |||||||
Wages and benefits | 35,687 | - | 35,687 | |||||||
Balance, May 31, 2007 | 911,167 | - | 911,167 | |||||||
Administrative | 706 | - | 706 | |||||||
Consulting fees | 60,548 | - | 60,548 | |||||||
Travel | 5,456 | - | 5,456 | |||||||
Legal fees | 11,566 | - | 11,566 | |||||||
Balance, May 31, 2008 | 989,443 | - | 989,443 | |||||||
Administrative | 867 | - | 867 | |||||||
Consulting fees | 27,890 | - | 27,890 | |||||||
Travel | 16,959 | - | 16,959 | |||||||
Legal fees | 7,008 | - | 7,008 | |||||||
Balance, May 31, 2009 | 1,042,167 | - | 1,042,167 | |||||||
Balance, May 31, 2010 | 1,042,167 | - | 1,042,167 | |||||||
Balance, May 31, 2011 | 1,042,167 | - | 1,042,167 | |||||||
Administrative | - | 11,736 | 11,736 | |||||||
Consulting fees | - | 1,367 | 1,367 | |||||||
Engineering | - | 959 | 959 | |||||||
Feasibility study | - | 3,143 | 3,143 | |||||||
Field supplies | - | 3,639 | 3,639 | |||||||
Project design and safety reports | - | 25,143 | 25,143 | |||||||
Technical reports | - | 39,663 | 39,663 | |||||||
Travel & promotion | - | 35,324 | 35,324 | |||||||
Wages and benefits | - | 37,356 | 37,356 | |||||||
Balance, May 31, 2012 | $ | 1,042,167 | $ | 158,330 | $ | 1,200,497 | ||||
DXC | Gaoping | |||||||||
Salt Lake | Phosphate | |||||||||
Summary of mineral property expenditures | Property | Property | Total | |||||||
Balance, May 31, 2012 | $ | 1,042,167 | $ | 158,330 | $ | 1,200,497 | ||||
Administrative | - | 21,561 | 21,561 | |||||||
Consulting fees | - | 23,437 | 23,437 | |||||||
Engineering | - | 266,644 | 266,644 | |||||||
Field supplies | - | 84,177 | 84,177 | |||||||
Recording fees | - | 2,235 | 2,235 | |||||||
Travel & promotion | - | 38,036 | 38,036 | |||||||
Technical reports | - | 6,963 | 6,963 | |||||||
Wages and benefits | - | 82,239 | 82,239 | |||||||
Balance, May 31, 2013 | $ | 1,042,167 | $ | 683,622 | $ | 1,725,789 | ||||
Administrative | - | 8,140 | 8,140 | |||||||
Consulting fees | - | 20,468 | 20,468 | |||||||
Engineering | - | 46,495 | 46,495 | |||||||
Field supplies | - | 4,521 | 4,521 | |||||||
Recording fees | - | 3,269 | 3,269 | |||||||
Technical reports | 12,280 | 12,280 | ||||||||
Travel & promotion | - | 8,807 | 8,807 | |||||||
Wages and benefits | - | 36,754 | 36,754 | |||||||
Balance, November 30, 2013 | $ | 1,042,167 | $ | 824,356 | $ | 1,866,523 | ||||
Not included in the table above was a total of $222,227 of costs incurred on other properties which were abandoned during the years ended May 31, 2006, 2007 and 2009. | ||||||||||
a) Gaoping Phosphate Property | ||||||||||
On October 18, 2010, the Company signed two agreements (the "Agreements") with Chenxi County Hongyu Mining Co. Ltd. ("Hongyu") and its shareholders ("Hongyu Shareholders") regarding the Gaoping phosphate mine (the "GP Property") located in Tanjiachang village, Chenxi County, Hunan Province, China and other phosphate resources in Hunan Province. Hongyu holds a business license and a mining permit in the GP Property which is in effect until November 10, 2014. | ||||||||||
The Agreements required an investment company to be incorporated in Hong Kong (the “Investment Company”) which was to be owned 20% by the Hongyu Shareholders and 80% by the Company. On October 13, 2010, the Investment Company was incorporated in Hong Kong under the name Silver Castle Investments Ltd. (“Silver Castle”). Silver Castle acquired 90% of Hongyu and the other 10% of Hongyu was transferred to the nominees of the Company. During the acquisition phase, the Company ensured that Hongyu’s net assets retained a minimum value of RMB5,000,000 ($771,545). Upon completion of this acquisition, Hongyu became a Hong Kong / China joint venture company. The Company received all required approvals from Chinese authorities for the completion of its acquisition of Hongyu pursuant to the Agreements dated October 18, 2010. The Company paid RMB200,000 ($30,934) to the Hongyu shareholders as a down payment on December 14, 2010, the Company also deferred $25,083 of legal fees related to the acquisition of Hongyu which was recorded as Advance on Investment as at May 31, 2011. The remaining RMB1,800,000 ($279,504) was paid on July 8, 2011, to complete the transaction, for a total of RMB2,000,000 ($310,438). | ||||||||||
Pursuant to the Agreements, Hongyu agreed to surrender its future exclusive cooperative rights to the Company, and the Hongyu Shareholders agreed that the Company shall have all Hongyu's title and interest in any phosphate properties, including but not limited to the GP Property, and the Company arranged for the financing of building a mining and processing plant on the GP Property together with other facilities required for a mining operation thereon. | ||||||||||
When requested by the Company, the Hongyu Shareholders agreed to sell their 20% interest in the Investment Company to the Company for the issuance of 10,000,000 common shares of the Company’s capital stock. On July 5, 2011, the Company issued 10,000,000 shares to the Hongyu Shareholders with the closing market price of the shares at $0.22 for acquiring the remaining 20% equity interest in Silver Castle from the Hongyu Shareholders. As a result of this transaction, the Company effectively controls 100% of Hongyu through its wholly owned subsidiary, Silver Castle Investments Ltd. which holds 90% of Hongyu with the other 10% held by the nominees of the Company. | ||||||||||
The acquisition was treated as an acquisition of assets rather than a business combination because Hongyu does not constitute a business according to the definition of business under FASB ASC Topic 805 “ Business Combinations ”. The acquisition was accounted for based on the cash paid and quoted market price of the Company’s common shares issued as part of the transaction. | ||||||||||
There were no liabilities assumed during the acquisition. Details of the purchase consideration and net assets acquired are as follows: | ||||||||||
Purchase price: | ||||||||||
Cash consideration (1) | $ | 310,438 | ||||||||
Common shares (1) | 2,200,000 | |||||||||
Transaction costs (2) | 27,749 | |||||||||
$ | 2,538,187 | |||||||||
Allocated to: | ||||||||||
Environmental deposit | $ | 122,134 | ||||||||
Mineral property | 3,148,740 | |||||||||
Deferred tax liability | (732,687 | ) | ||||||||
$ | 2,538,187 | |||||||||
-1 | Consideration paid consisted of an aggregate cash payment of RMB2,000,000 ($310,438) and issuance of 10,000,000 shares of common stock at $0.22 per share which was the closing price of the Company’s shares on the date of acquisition. | |||||||||
-2 | Incurred in connection with the acquisition were transaction costs of $27,749 which were included as part of the purchase consideration. | |||||||||
During the period ended November 30, 2013, the Company recorded an income of $6,026 through the sale of minerals extracted during the work done for the preparation of production. The amount was reported as other income in the consolidated statement of operations. | ||||||||||
As of November 30, 2013, the Company has incurred mineral property costs of $824,356 on this property which have been expensed to the statement of operations as disclosed in the table above. | ||||||||||
b) Dangxiongcuo Salt Lake Project | ||||||||||
On September 16, 2005, the Company, through its wholly owned subsidiary, Micro Express Holdings Inc. (“Micro”), signed an agreement (the “Mianping Agreement”) with Beijing Mianping Salt Lake Research Institute (“Mianping”) for the development of Dangxiongcuo salt lake property (“DXC Salt Lake”) in Nima county of Naqu district in Tibet, China. | ||||||||||
On July 3, 2007, Micro received a letter terminating the agreement due to a lack of progress in the approval for the establishment of the joint venture company. By letter dated August 25, 2008, Mianping had confirmed that the agreement dated September 16, 2005 was terminated effective July 8, 2008. This agreement was replaced by the agreement with Zhong Chuan International Mining Holdings Co. Ltd. (“Zhong Chuan”) dated July 8, 2008 (“the Agreement”). | ||||||||||
On October 31, 2011, the Company and its wholly owned subsidiary, Micro Express Holdings Inc. (collectively "Micro Express"), signed an agreement (the "Termination Agreement") with Beijing Mianping Salt Lake Research Institute and Tibet Sunrise Mining Development Ltd. which is the actual control person of Beijing Mianping Salt Lake Research Institute (collectively "Sunrise") regarding amending and terminating the agreement dated September 16, 2005 between Micro Express Holdings Inc. and Beijing Mianping Salt Lake Research Institute for the development of the Dangxiongcuo (DXC) Salt Lake Project located in Nima County, Tibet, China ( the "Mianping Agreement"). | ||||||||||
Pursuant to the Termination Agreement, the parties had Sunrise pay RMB10 million ($1,570,200) to Micro Express immediately in exchange of the original receipts in total amount of RMB6,218,451 which Micro Express had spent for the DXC project and the receipt of RMB3,781,549 from Micro Express. Micro Express quitclaimed all of its interest in and to the DXC project and the Mianping Agreement and amendments thereto, if any, shall be deemed to be null and void effective immediately after Micro Express received RMB10 million from Sunrise. | ||||||||||
As of November 30, 2013, the Company had incurred a total of $1,042,167 in mineral property costs on this property which have been charged to income in prior periods. | ||||||||||
On June 21, 2012, the Company received the full payment of RMB10,000,000 from Sunrise, and had quitclaimed all of its interest in and to the DXC lithium project and the Mianping Agreement and amendments thereto, if any, were null and void. RMB700,000 was incurred as expenses for the collection of the refund. The net amount, RMB9,300,000 ($1,461,588) was recorded as other income in the consolidated statement of operations for the year ended May 31, 2013. |
Equipment
Equipment | 6 Months Ended | |||||||||||||||||||
Nov. 30, 2013 | ||||||||||||||||||||
Equipment [Text Block] | ' | |||||||||||||||||||
Note 4 | Equipment | |||||||||||||||||||
30-Nov-13 | 31-May-13 | |||||||||||||||||||
Accumulated | Net Book | Accumulated | Net Book | |||||||||||||||||
Cost | Depreciation | Value | Cost | Depreciation | Value | |||||||||||||||
Computer equipment | $ | 13,759 | $ | 12,452 | $ | 1,307 | $ | 13,747 | $ | 11,740 | $ | 2,007 | ||||||||
Automobile | 61,290 | 20,954 | 40,336 | 60,239 | 14,698 | 45,541 | ||||||||||||||
Office equipment | 3,652 | 2,091 | 1,561 | 3,627 | 1,473 | 2,154 | ||||||||||||||
Machinery | 167,452 | 32,172 | 135,280 | 163,049 | 16,398 | 146,651 | ||||||||||||||
$ | 246,153 | $ | 67,669 | $ | 178,484 | $ | 240,662 | $ | 44,309 | $ | 196,353 | |||||||||
The depreciation for the six months ended November 30, 2013 was $23,041 (2012: $11,655). | ||||||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 6 Months Ended | |
Nov. 30, 2013 | ||
Related Party Transactions [Text Block] | ' | |
Note 5 | Related Party Transactions | |
The Company was charged consulting fees for administrative, corporate, financial, engineering, and management services during the three-month and six-month periods ended November 30, 2013 totalling $5,755 (2012: $6,050) and $11,502 (2012: $12,024) by companies controlled by a director of the Company, respectively. | ||
Included in accounts payable and accrued liabilities is $457,025 (May 31, 2013: $464,059) which was due to companies controlled by the directors for their services provided in previous years. | ||
These transactions were measured at the exchange amount which represented the amount of consideration established and agreed to by the related parties. | ||
Capital_Stock
Capital Stock | 6 Months Ended | ||||||
Nov. 30, 2013 | |||||||
Capital Stock [Text Block] | ' | ||||||
Note 6 | Capital Stock | ||||||
a) Capital Stock | |||||||
During the years ended May 31, 2004 and 2005, the Company completed a private placement of 3,716,000 units at $0.50 per unit for total proceeds of $1,858,000. Each unit consists of one common share and one share purchase warrant entitling the holder the right to purchase one common share at $0.75 per share, expiring on February 16, 2006 (the Series “A” Share Purchase Warrants). Upon exercise of the “A” share purchase warrant, an additional share purchase warrant will be granted at $1.00 per share, expiring February 16, 2007 (the Series “B” Share Purchase Warrants). An additional 101,500 units were issued as finders’ fees. | |||||||
On December 18, 2004, the Company issued 100,000 shares with a fair value of $42,000 to a consultant for investor relations services for a period of one year. | |||||||
During the year ended May 31, 2007, the Company completed a private placement of 2,750,300 units at $0.15 per unit for total proceeds of $412,545. Each unit consists of one common share and one share purchase warrant entitling the holder the right to purchase one common share at $0.18 per share expiring on December 29, 2006 (the Series “C” Share Purchase Warrants). An additional 123,690 units were issued as finders’ fees. | |||||||
During the year ended May 31, 2008, the Company issued 324,685 common shares at $0.06 per share to settle accounts payable of $19,480. | |||||||
During the year ended May 31, 2011, the Company completed a private placement of 20,000,000 units at $0.10 per unit for total proceeds of $2,000,000. Each unit consists of one common share and one share purchase warrant entitling the holder the right to purchase one common share at $0.15 per share expiring on January 31, 2012 (the Series “D” Share Purchase Warrants). An additional 752,500 units were issued as finders’ fees. | |||||||
On May 25, 2011, the Company issued 350,000 shares at a quoted market price of $0.23 each to a consultant for its services. | |||||||
On July 5, 2011, Sterling issued 10,000,000 shares to the Hongyu Shareholders with the closing market price of the shares at $0.22 for acquiring the remaining 20% equity interest in Silver Castle from the Hongyu Shareholders (Note 3). | |||||||
b) Stock Options | |||||||
During the year ended May 31, 2004, the Company granted 2,100,000 fully vested stock options to directors and officers of the Company at an exercise price of $0.50 per share. These stock options expired on February 3, 2009. | |||||||
Prior to the adoption of the accounting for stock based compensation on employees in 2005, the Company accounts for its stock based compensation plans using the intrinsic value method whereby no compensation costs had been recognized in the financial statements for stock options granted to employees and directors. If the fair value method had been used for options granted, a fair value of $504,000 would be recorded as compensation expenses during the year ended May 31, 2004. | |||||||
During the year ended May 31, 2004 the Company also granted 1,536,000 fully vested stock options to consultants at an exercise price of $0.50 per share. These stock option expired February 3, 2009. The fair value of options granted to non-employees and non-directors was $368,641 and had been recorded as stock-based compensation expense. | |||||||
The fair value of each option grant was $0.24 and was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions used for the options granted on February 3, 2004: dividend yield of 0%, expected volatility of 51.15%, risk-free interest rate of 3.26%, and an expected life of 5 years. | |||||||
On April 27, 2011, the Company granted 4,700,000 stock options to employees and consultants at an exercise price of $0.25 each expiring on February 3, 2019. The options were vested immediately. | |||||||
On November 3, 2011, the Company granted 500,000 stock options to a consultant at an exercise price of $0.25 each expiring on February 3, 2019. The options were vested immediately. | |||||||
At November 30, 2013, there were 5,200,000 stock options (May 31, 2013: 5,200,000) outstanding and exercisable with an exercise price at $0.25 each expiring on February 3, 2019, with an aggregate intrinsic value of $nil (May 31, 2013: $nil) and a weighted average remaining contractual term of 5.18 years (May 31, 2013: 5.68 years). | |||||||
c) Share Purchase Warrants | |||||||
Changes in share purchase warrants for the period ended November 30, 2013 and year ended May 31, 2013 are summarized as follows: | |||||||
Weighted | |||||||
Average | |||||||
Number of | Exercise | ||||||
Shares | Price | ||||||
Balance, May 31, 2012 | 24,570,000 | $ | 0.204 | ||||
Granted | - | - | |||||
Exercised | - | - | |||||
Expired | - | - | |||||
Balance, November 30, 2013 and May 31, 2013 | 24,570,000 | $ | 0.204 | ||||
Share purchase warrants outstanding at November 30, 2013: | |||||||
Series | Number | Price | Expiry Date | ||||
"A" | 3,817,500 | $0.50 | 17-Feb-15 | ||||
"D" | 20,752,500 | $0.15 | 17-Feb-15 | ||||
24,570,000 | |||||||
Each Series “A” warrant entitles the holder thereof the right to purchase one common share at $0.50 per share expiring on the earlier of: | |||||||
1) | February 16, 2008; or | ||||||
2) | The 30th day after the day on which the weighted average trading price of the Company's shares exceeds $0.80 per share for 20 consecutive trading days. | ||||||
Upon exercise of the Series "A" Share Purchase Warrant at $0.50 each, the holder will receive one Common Share of the Company and a Series "B" Share Purchase Warrant exercisable at $1.00 expiring one year after the occurrence of either (1) or (2) as described above. The Series "A" Share Purchase Warrants were originally issued in 2004 pursuant to a private placement commenced in February 2004. | |||||||
On February 7, 2008, the Company extended the expiry date of the 3,817,500 Series “A” Share Purchase Warrants from February 16, 2008 to February 16, 2009. The exercise price of the warrants remains unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $252,989 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 218.52%, risk free interest rates of 2.08% and expected life of one year. | |||||||
On February 6, 2009, the Company re-extended the expiry date of 3,817,500 Series “A” Share Purchase Warrants from February 16, 2009 to February 16, 2010. The exercise price of the warrants remains unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $35,593 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 223.36%, risk free interest rates of 0.82% and expected life of one year. | |||||||
On February 12, 2010, the Company re-extended the expiry date of 3,817,500 Series "A" Share Purchase Warrants from February 16, 2010 to February 16, 2011. The exercise price of the warrants remains unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $44,283 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 244%, risk free interest rates of 0.56% and expected life of one year. | |||||||
On February 14, 2011, the Company re-extended the expiry date of 3,817,500 Series "A" Share Purchase Warrants from February 16, 2011 to February 16, 2012. The exercise price of the warrants remains unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $517,526 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 201%, risk free interest rates of 0.29% and expected life of one year. | |||||||
On January 26, 2012, the Company re-extended the expiry date of 3,817,500 Series "A" share purchase warrants from February 16, 2012 to the earlier of February 15, 2013 or the close of business on the 30th day after a takeover bid for the Company's issued and outstanding share capital has been made by a third party and approved by the shareholders of the Company. The exercise price of the warrants remained unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $25,832 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 155.80%, risk-free interest rates of 0.12% and expected life of 1.05 years. | |||||||
On February 6, 2013, the Company extended the expiry date of 3,817,500 Series "A" Share Purchase Warrants (the "A" Warrants) from February 15, 2013 to the earlier of February 17, 2015 or the close of business on the 30th day after a takeover bid for the Company's issued and outstanding share capital has been made by a third party and approved by the shareholders of the Company. The exercise price of the warrants remained unchanged at $0.50 per share. The additional fair value of the 3,817,500 extended life Series “A” Share Purchase Warrants was estimated at $108,603 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 169.44%, risk-free interest rates of 0.27% and expected life of 2 years. | |||||||
On February 7, 2008, the Company extended the expiry date of the 2,873,990 Series “C” Share Purchase Warrants from February 29, 2008 to February 27, 2009. The exercise price of the warrants remained unchanged at $0.18 per share. The additional fair value of the 2,873,990 extended life Series “C” Share Purchase Warrants was estimated at $156,536 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 222.09%, risk-free interest rates of 2.08% and expected life of one year. | |||||||
On February 6, 2009, the Company re-extended the expiry date of 2,873,990 Series "C" share purchase Warrants from February 27, 2009 to February 26, 2010. The exercise price of the warrants remains unchanged at $0.18 per share. The Series "C" Share Purchase Warrants were originally issued in September 2006 pursuant to a private placement commenced in August 2006. The additional fair value of the 2,873,990 extended life Series “C” Share Purchase Warrants was estimated at $48,259 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 244.01%, risk-free interest rates of 0.82% and expected life of one year. | |||||||
On February 12, 2010, the Company re-extended the expiry date of 2,873,990 the Series "C" share purchase Warrants from February 26, 2010 to February 16, 2011. The exercise price of the warrants remains unchanged at $0.18 per share. The additional fair value of the 2,873,990 extended life Series “C” Share Purchase Warrants was estimated at $47,421 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 244%, risk-free interest rates of 0.56% and expected life of one year. | |||||||
During the year ended May 31, 2011, 801,666 Series "C" Share Purchase Warrants with an exercise price of $0.18 per share were exercised for gross proceeds of approximately $144,300. On February 16, 2011, the remaining Series "C" Share Purchase Warrants expired unexercised. | |||||||
On January 26, 2012, the Company extended the expiry date of the 20,752,500 Series "D" Share Purchase Warrants (the "D" Warrants) to the earlier of February 15, 2013 or the close of business on the 30th day after a takeover bid for the Company's issued and outstanding share capital has been made by a third party and approved by the shareholders of the Company. The exercise price of the "D" Warrants remains unchanged at $0.15 per share. The additional fair value of the 20,752,500 extended life Series “D” Share Purchase Warrants was estimated at $358,647 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 157.29%, risk-free interest rates of 0.12% and expected life of 1.05 years. | |||||||
On February 6, 2013, the Company extended the expiry date of 20,752,500 Series "D" Share Purchase Warrants (the "D" Warrants) from February 15, 2013 to the earlier of February 17, 2015 or the close of business on the 30th day after a takeover bid for the Company's issued and outstanding share capital has been made by a third party and approved by the shareholders of the Company. The exercise price of the warrants remained unchanged at $0.15 per share. The additional fair value of the 20,752,500 extended life Series “D” Share Purchase Warrants was estimated at $816,320 using the Black-Scholes Option Pricing Model with the following weighted average assumptions: dividend yield of 0%, expected volatility of 169.44%, risk-free interest rates of 0.27% and expected life of 2 years. | |||||||
As a result of the extension of the warrants described above, the Company recorded stock-based compensation expenses of $924,923 (2012: $424,479) as part of the consulting fees in the statement of operations for the year ended May 31, 2013. |
Foreign_Currency_Risk
Foreign Currency Risk | 6 Months Ended | |
Nov. 30, 2013 | ||
Foreign Currency Risk [Text Block] | ' | |
Note 7 | Foreign Currency Risk | |
The Company is exposed to fluctuations in foreign currencies through amounts held in China in RMB: Cash and cash equivalents $567,954 (May 31, 2013 - $560,707) | ||
The Company is exposed to fluctuations in foreign currencies through amounts held in Canada in CAD: Cash $44,277 (May 31, 2013 - $36,275) | ||
The Company is exposed to fluctuations in foreign currencies through amounts held in Hong Kong in HKD: Cash $319 (May 31, 2013 - $409) |
Mineral_Properties_Tables
Mineral Properties (Tables) | 6 Months Ended | 18 Months Ended | 84 Months Ended | |||||||||||||||||||||
Nov. 30, 2013 | Nov. 30, 2013 | 31-May-12 | ||||||||||||||||||||||
Summary of Mineral Property Expenditures [Table Text Block] | ' | ' | ' | |||||||||||||||||||||
DXC | Gaoping | DXC | Gaoping | |||||||||||||||||||||
Salt Lake | Phosphate | Salt Lake | Phosphate | |||||||||||||||||||||
Summary of mineral property expenditures | Property | Property | Total | Summary of mineral property expenditures | Property | Property | Total | |||||||||||||||||
Balance, May 31, 2012 | $ | 1,042,167 | $ | 158,330 | $ | 1,200,497 | Balance, May 31, 2005 | $ | - | $ | - | |||||||||||||
Administrative | - | 21,561 | 21,561 | Administrative | 5,560 | - | 5,560 | |||||||||||||||||
Consulting fees | - | 23,437 | 23,437 | Consulting fees | 46,629 | - | 46,629 | |||||||||||||||||
Engineering | - | 266,644 | 266,644 | Engineering studies | 26,933 | - | 26,933 | |||||||||||||||||
Field supplies | - | 84,177 | 84,177 | Feasibility study | 29,080 | - | 29,080 | |||||||||||||||||
Recording fees | - | 2,235 | 2,235 | Geophysical study | 31,114 | - | 31,114 | |||||||||||||||||
Travel & promotion | - | 38,036 | 38,036 | Legal fees | 623 | - | 623 | |||||||||||||||||
Technical reports | - | 6,963 | 6,963 | Topography measurement | 32,266 | - | 32,266 | |||||||||||||||||
Wages and benefits | - | 82,239 | 82,239 | Travel | 30,953 | - | 30,953 | |||||||||||||||||
Balance, May 31, 2013 | $ | 1,042,167 | $ | 683,622 | $ | 1,725,789 | Wages and benefits | 33,601 | - | 33,601 | ||||||||||||||
Administrative | - | 8,140 | 8,140 | Balance, May 31, 2006 | 236,759 | - | 236,759 | |||||||||||||||||
Consulting fees | - | 20,468 | 20,468 | Administrative | 5,200 | - | 5,200 | |||||||||||||||||
Engineering | - | 46,495 | 46,495 | Consulting fees | 134,580 | - | 134,580 | |||||||||||||||||
Field supplies | - | 4,521 | 4,521 | Engineering studies | 38,063 | - | 38,063 | |||||||||||||||||
Recording fees | - | 3,269 | 3,269 | Mining permit | 382,920 | - | 382,920 | |||||||||||||||||
Technical reports | 12,280 | 12,280 | Topography measurement | 15,001 | - | 15,001 | ||||||||||||||||||
Travel & promotion | - | 8,807 | 8,807 | Legal fees | 9,695 | - | 9,695 | |||||||||||||||||
Wages and benefits | - | 36,754 | 36,754 | Travel | 53,262 | - | 53,262 | |||||||||||||||||
Balance, November 30, 2013 | $ | 1,042,167 | $ | 824,356 | $ | 1,866,523 | Wages and benefits | 35,687 | - | 35,687 | ||||||||||||||
Balance, May 31, 2007 | 911,167 | - | 911,167 | |||||||||||||||||||||
Administrative | 706 | - | 706 | |||||||||||||||||||||
Consulting fees | 60,548 | - | 60,548 | |||||||||||||||||||||
Travel | 5,456 | - | 5,456 | |||||||||||||||||||||
Legal fees | 11,566 | - | 11,566 | |||||||||||||||||||||
Balance, May 31, 2008 | 989,443 | - | 989,443 | |||||||||||||||||||||
Administrative | 867 | - | 867 | |||||||||||||||||||||
Consulting fees | 27,890 | - | 27,890 | |||||||||||||||||||||
Travel | 16,959 | - | 16,959 | |||||||||||||||||||||
Legal fees | 7,008 | - | 7,008 | |||||||||||||||||||||
Balance, May 31, 2009 | 1,042,167 | - | 1,042,167 | |||||||||||||||||||||
Balance, May 31, 2010 | 1,042,167 | - | 1,042,167 | |||||||||||||||||||||
Balance, May 31, 2011 | 1,042,167 | - | 1,042,167 | |||||||||||||||||||||
Administrative | - | 11,736 | 11,736 | |||||||||||||||||||||
Consulting fees | - | 1,367 | 1,367 | |||||||||||||||||||||
Engineering | - | 959 | 959 | |||||||||||||||||||||
Feasibility study | - | 3,143 | 3,143 | |||||||||||||||||||||
Field supplies | - | 3,639 | 3,639 | |||||||||||||||||||||
Project design and safety reports | - | 25,143 | 25,143 | |||||||||||||||||||||
Technical reports | - | 39,663 | 39,663 | |||||||||||||||||||||
Travel & promotion | - | 35,324 | 35,324 | |||||||||||||||||||||
Wages and benefits | - | 37,356 | 37,356 | |||||||||||||||||||||
Balance, May 31, 2012 | $ | 1,042,167 | $ | 158,330 | $ | 1,200,497 | ||||||||||||||||||
Schedule of Purchase Net Assets [Table Text Block] | ' | ' | ' | |||||||||||||||||||||
Purchase price: | ||||||||||||||||||||||||
Cash consideration (1) | $ | 310,438 | ||||||||||||||||||||||
Common shares (1) | 2,200,000 | |||||||||||||||||||||||
Transaction costs (2) | 27,749 | |||||||||||||||||||||||
$ | 2,538,187 | |||||||||||||||||||||||
Allocated to: | ||||||||||||||||||||||||
Environmental deposit | $ | 122,134 | ||||||||||||||||||||||
Mineral property | 3,148,740 | |||||||||||||||||||||||
Deferred tax liability | (732,687 | ) | ||||||||||||||||||||||
$ | 2,538,187 | |||||||||||||||||||||||
Equipment_Tables
Equipment (Tables) | 6 Months Ended | |||||||||||||||||||
Nov. 30, 2013 | ||||||||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||||||||
30-Nov-13 | 31-May-13 | |||||||||||||||||||
Accumulated | Net Book | Accumulated | Net Book | |||||||||||||||||
Cost | Depreciation | Value | Cost | Depreciation | Value | |||||||||||||||
Computer equipment | $ | 13,759 | $ | 12,452 | $ | 1,307 | $ | 13,747 | $ | 11,740 | $ | 2,007 | ||||||||
Automobile | 61,290 | 20,954 | 40,336 | 60,239 | 14,698 | 45,541 | ||||||||||||||
Office equipment | 3,652 | 2,091 | 1,561 | 3,627 | 1,473 | 2,154 | ||||||||||||||
Machinery | 167,452 | 32,172 | 135,280 | 163,049 | 16,398 | 146,651 | ||||||||||||||
$ | 246,153 | $ | 67,669 | $ | 178,484 | $ | 240,662 | $ | 44,309 | $ | 196,353 |
Capital_Stock_Tables
Capital Stock (Tables) | 6 Months Ended | ||||||
Nov. 30, 2013 | |||||||
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | ' | ||||||
Weighted | |||||||
Average | |||||||
Number of | Exercise | ||||||
Shares | Price | ||||||
Balance, May 31, 2012 | 24,570,000 | $ | 0.204 | ||||
Granted | - | - | |||||
Exercised | - | - | |||||
Expired | - | - | |||||
Balance, November 30, 2013 and May 31, 2013 | 24,570,000 | $ | 0.204 | ||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||
Series | Number | Price | Expiry Date | ||||
"A" | 3,817,500 | $0.50 | 17-Feb-15 | ||||
"D" | 20,752,500 | $0.15 | 17-Feb-15 | ||||
24,570,000 |
Nature_of_Operations_and_Abili1
Nature of Operations and Ability to Continue as a Going Concern (Narrative) (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Nature Of Operations And Ability To Continue As A Going Concern 1 | $214,113 |
Nature Of Operations And Ability To Continue As A Going Concern 2 | $6,676,392 |
Nature Of Operations And Ability To Continue As A Going Concern 3 | 10 |
Nature Of Operations And Ability To Continue As A Going Concern 4 | 100.00% |
Mineral_Properties_Narrative_D
Mineral Properties (Narrative) (Details) | 6 Months Ended | |
Nov. 30, 2013 | Nov. 30, 2013 | |
USD ($) | CNY | |
Mineral Properties 1 | $222,227 | ' |
Mineral Properties 2 | 20.00% | 20.00% |
Mineral Properties 3 | 80.00% | 80.00% |
Mineral Properties 4 | 90.00% | 90.00% |
Mineral Properties 5 | 10.00% | 10.00% |
Mineral Properties 6 | ' | 5,000,000 |
Mineral Properties 7 | 771,545 | ' |
Mineral Properties 8 | ' | 200,000 |
Mineral Properties 9 | 30,934 | ' |
Mineral Properties 10 | 25,083 | ' |
Mineral Properties 11 | ' | 1,800,000 |
Mineral Properties 12 | 279,504 | ' |
Mineral Properties 13 | ' | 2,000,000 |
Mineral Properties 14 | 310,438 | ' |
Mineral Properties 15 | 20.00% | 20.00% |
Mineral Properties 16 | 10,000,000 | 10,000,000 |
Mineral Properties 17 | 10,000,000 | 10,000,000 |
Mineral Properties 18 | 0.22 | ' |
Mineral Properties 19 | 20.00% | 20.00% |
Mineral Properties 20 | 100.00% | 100.00% |
Mineral Properties 21 | 90.00% | 90.00% |
Mineral Properties 22 | 10.00% | 10.00% |
Mineral Properties 23 | ' | 2,000,000 |
Mineral Properties 24 | 310,438 | ' |
Mineral Properties 25 | 10,000,000 | 10,000,000 |
Mineral Properties 26 | $0.22 | ' |
Mineral Properties 27 | 27,749 | ' |
Mineral Properties 28 | 6,026 | ' |
Mineral Properties 29 | 824,356 | ' |
Mineral Properties 30 | ' | 10,000,000 |
Mineral Properties 31 | 1,570,200 | ' |
Mineral Properties 32 | ' | 6,218,451 |
Mineral Properties 33 | ' | 3,781,549 |
Mineral Properties 34 | ' | 10,000,000 |
Mineral Properties 35 | 1,042,167 | ' |
Mineral Properties 36 | ' | 10,000,000 |
Mineral Properties 37 | ' | 700,000 |
Mineral Properties 38 | ' | 9,300,000 |
Mineral Properties 39 | $1,461,588 | ' |
Equipment_Narrative_Details
Equipment (Narrative) (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Equipment 1 | $23,041 |
Equipment 2 | $11,655 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Related Party Transactions 1 | $5,755 |
Related Party Transactions 2 | 6,050 |
Related Party Transactions 3 | 11,502 |
Related Party Transactions 4 | 12,024 |
Related Party Transactions 5 | 457,025 |
Related Party Transactions 6 | $464,059 |
Capital_Stock_Narrative_Detail
Capital Stock (Narrative) (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Y | |
Capital Stock 1 | 3,716,000 |
Capital Stock 2 | $0.50 |
Capital Stock 3 | $1,858,000 |
Capital Stock 4 | $0.75 |
Capital Stock 5 | $1 |
Capital Stock 6 | 101,500 |
Capital Stock 7 | 100,000 |
Capital Stock 8 | 42,000 |
Capital Stock 9 | 2,750,300 |
Capital Stock 10 | $0.15 |
Capital Stock 11 | 412,545 |
Capital Stock 12 | $0.18 |
Capital Stock 13 | 123,690 |
Capital Stock 14 | 324,685 |
Capital Stock 15 | $0.06 |
Capital Stock 16 | 19,480 |
Capital Stock 17 | 20,000,000 |
Capital Stock 18 | $0.10 |
Capital Stock 19 | 2,000,000 |
Capital Stock 20 | $0.15 |
Capital Stock 21 | 752,500 |
Capital Stock 22 | 350,000 |
Capital Stock 23 | 0.23 |
Capital Stock 24 | 10,000,000 |
Capital Stock 25 | 0.22 |
Capital Stock 26 | 20.00% |
Capital Stock 27 | 2,100,000 |
Capital Stock 28 | $0.50 |
Capital Stock 29 | 504,000 |
Capital Stock 30 | 1,536,000 |
Capital Stock 31 | $0.50 |
Capital Stock 32 | 368,641 |
Capital Stock 33 | 0.24 |
Capital Stock 34 | 0.00% |
Capital Stock 35 | 51.15% |
Capital Stock 36 | 3.26% |
Capital Stock 37 | 5 |
Capital Stock 38 | 4,700,000 |
Capital Stock 39 | 0.25 |
Capital Stock 40 | 500,000 |
Capital Stock 41 | 0.25 |
Capital Stock 42 | 5,200,000 |
Capital Stock 43 | 5,200,000 |
Capital Stock 44 | 0.25 |
Capital Stock 45 | 0 |
Capital Stock 46 | 0 |
Capital Stock 47 | 5.18 |
Capital Stock 48 | 5.68 |
Capital Stock 49 | $0.50 |
Capital Stock 50 | $0.80 |
Capital Stock 51 | 20 |
Capital Stock 52 | 0.5 |
Capital Stock 53 | 1 |
Capital Stock 54 | 3,817,500 |
Capital Stock 55 | $0.50 |
Capital Stock 56 | 3,817,500 |
Capital Stock 57 | 252,989 |
Capital Stock 58 | 0.00% |
Capital Stock 59 | 218.52% |
Capital Stock 60 | 2.08% |
Capital Stock 61 | 3,817,500 |
Capital Stock 62 | $0.50 |
Capital Stock 63 | 3,817,500 |
Capital Stock 64 | 35,593 |
Capital Stock 65 | 0.00% |
Capital Stock 66 | 223.36% |
Capital Stock 67 | 0.82% |
Capital Stock 68 | 3,817,500 |
Capital Stock 69 | $0.50 |
Capital Stock 70 | 3,817,500 |
Capital Stock 71 | 44,283 |
Capital Stock 72 | 0.00% |
Capital Stock 73 | 244.00% |
Capital Stock 74 | 0.56% |
Capital Stock 75 | 3,817,500 |
Capital Stock 76 | $0.50 |
Capital Stock 77 | 3,817,500 |
Capital Stock 78 | 517,526 |
Capital Stock 79 | 0.00% |
Capital Stock 80 | 201.00% |
Capital Stock 81 | 0.29% |
Capital Stock 82 | 3,817,500 |
Capital Stock 83 | $0.50 |
Capital Stock 84 | 3,817,500 |
Capital Stock 85 | 25,832 |
Capital Stock 86 | 0.00% |
Capital Stock 87 | 155.80% |
Capital Stock 88 | 0.12% |
Capital Stock 89 | 1.05 |
Capital Stock 90 | 3,817,500 |
Capital Stock 91 | $0.50 |
Capital Stock 92 | 3,817,500 |
Capital Stock 93 | 108,603 |
Capital Stock 94 | 0.00% |
Capital Stock 95 | 169.44% |
Capital Stock 96 | 0.27% |
Capital Stock 97 | 2 |
Capital Stock 98 | 2,873,990 |
Capital Stock 99 | $0.18 |
Capital Stock 100 | 2,873,990 |
Capital Stock 101 | 156,536 |
Capital Stock 102 | 0.00% |
Capital Stock 103 | 222.09% |
Capital Stock 104 | 2.08% |
Capital Stock 105 | 2,873,990 |
Capital Stock 106 | $0.18 |
Capital Stock 107 | 2,873,990 |
Capital Stock 108 | 48,259 |
Capital Stock 109 | 0.00% |
Capital Stock 110 | 244.01% |
Capital Stock 111 | 0.82% |
Capital Stock 112 | 2,873,990 |
Capital Stock 113 | $0.18 |
Capital Stock 114 | 2,873,990 |
Capital Stock 115 | 47,421 |
Capital Stock 116 | 0.00% |
Capital Stock 117 | 244.00% |
Capital Stock 118 | 0.56% |
Capital Stock 119 | 801,666 |
Capital Stock 120 | $0.18 |
Capital Stock 121 | 144,300 |
Capital Stock 122 | 20,752,500 |
Capital Stock 123 | $0.15 |
Capital Stock 124 | 20,752,500 |
Capital Stock 125 | 358,647 |
Capital Stock 126 | 0.00% |
Capital Stock 127 | 157.29% |
Capital Stock 128 | 0.12% |
Capital Stock 129 | 1.05 |
Capital Stock 130 | 20,752,500 |
Capital Stock 131 | $0.15 |
Capital Stock 132 | 20,752,500 |
Capital Stock 133 | 816,320 |
Capital Stock 134 | 0.00% |
Capital Stock 135 | 169.44% |
Capital Stock 136 | 0.27% |
Capital Stock 137 | 2 |
Capital Stock 138 | 924,923 |
Capital Stock 139 | $424,479 |
Foreign_Currency_Risk_Narrativ
Foreign Currency Risk (Narrative) (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Foreign Currency Risk 1 | $567,954 |
Foreign Currency Risk 2 | 560,707 |
Foreign Currency Risk 3 | 44,277 |
Foreign Currency Risk 4 | 36,275 |
Foreign Currency Risk 5 | 319 |
Foreign Currency Risk 6 | $409 |
Summary_of_Mineral_Property_Ex
Summary of Mineral Property Expenditures (Details) (USD $) | 18 Months Ended | 84 Months Ended |
Nov. 30, 2013 | 31-May-12 | |
Mineral Properties Summary Of Mineral Property Expenditures 1 | ' | $0 |
Mineral Properties Summary Of Mineral Property Expenditures 2 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 3 | ' | 5,560 |
Mineral Properties Summary Of Mineral Property Expenditures 4 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 5 | ' | 5,560 |
Mineral Properties Summary Of Mineral Property Expenditures 6 | ' | 46,629 |
Mineral Properties Summary Of Mineral Property Expenditures 7 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 8 | ' | 46,629 |
Mineral Properties Summary Of Mineral Property Expenditures 9 | ' | 26,933 |
Mineral Properties Summary Of Mineral Property Expenditures 10 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 11 | ' | 26,933 |
Mineral Properties Summary Of Mineral Property Expenditures 12 | ' | 29,080 |
Mineral Properties Summary Of Mineral Property Expenditures 13 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 14 | ' | 29,080 |
Mineral Properties Summary Of Mineral Property Expenditures 15 | ' | 31,114 |
Mineral Properties Summary Of Mineral Property Expenditures 16 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 17 | ' | 31,114 |
Mineral Properties Summary Of Mineral Property Expenditures 18 | ' | 623 |
Mineral Properties Summary Of Mineral Property Expenditures 19 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 20 | ' | 623 |
Mineral Properties Summary Of Mineral Property Expenditures 21 | ' | 32,266 |
Mineral Properties Summary Of Mineral Property Expenditures 22 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 23 | ' | 32,266 |
Mineral Properties Summary Of Mineral Property Expenditures 24 | ' | 30,953 |
Mineral Properties Summary Of Mineral Property Expenditures 25 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 26 | ' | 30,953 |
Mineral Properties Summary Of Mineral Property Expenditures 27 | ' | 33,601 |
Mineral Properties Summary Of Mineral Property Expenditures 28 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 29 | ' | 33,601 |
Mineral Properties Summary Of Mineral Property Expenditures 30 | ' | 236,759 |
Mineral Properties Summary Of Mineral Property Expenditures 31 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 32 | ' | 236,759 |
Mineral Properties Summary Of Mineral Property Expenditures 33 | ' | 5,200 |
Mineral Properties Summary Of Mineral Property Expenditures 34 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 35 | ' | 5,200 |
Mineral Properties Summary Of Mineral Property Expenditures 36 | ' | 134,580 |
Mineral Properties Summary Of Mineral Property Expenditures 37 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 38 | ' | 134,580 |
Mineral Properties Summary Of Mineral Property Expenditures 39 | ' | 38,063 |
Mineral Properties Summary Of Mineral Property Expenditures 40 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 41 | ' | 38,063 |
Mineral Properties Summary Of Mineral Property Expenditures 42 | ' | 382,920 |
Mineral Properties Summary Of Mineral Property Expenditures 43 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 44 | ' | 382,920 |
Mineral Properties Summary Of Mineral Property Expenditures 45 | ' | 15,001 |
Mineral Properties Summary Of Mineral Property Expenditures 46 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 47 | ' | 15,001 |
Mineral Properties Summary Of Mineral Property Expenditures 48 | ' | 9,695 |
Mineral Properties Summary Of Mineral Property Expenditures 49 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 50 | ' | 9,695 |
Mineral Properties Summary Of Mineral Property Expenditures 51 | ' | 53,262 |
Mineral Properties Summary Of Mineral Property Expenditures 52 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 53 | ' | 53,262 |
Mineral Properties Summary Of Mineral Property Expenditures 54 | ' | 35,687 |
Mineral Properties Summary Of Mineral Property Expenditures 55 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 56 | ' | 35,687 |
Mineral Properties Summary Of Mineral Property Expenditures 57 | ' | 911,167 |
Mineral Properties Summary Of Mineral Property Expenditures 58 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 59 | ' | 911,167 |
Mineral Properties Summary Of Mineral Property Expenditures 60 | ' | 706 |
Mineral Properties Summary Of Mineral Property Expenditures 61 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 62 | ' | 706 |
Mineral Properties Summary Of Mineral Property Expenditures 63 | ' | 60,548 |
Mineral Properties Summary Of Mineral Property Expenditures 64 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 65 | ' | 60,548 |
Mineral Properties Summary Of Mineral Property Expenditures 66 | ' | 5,456 |
Mineral Properties Summary Of Mineral Property Expenditures 67 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 68 | ' | 5,456 |
Mineral Properties Summary Of Mineral Property Expenditures 69 | ' | 11,566 |
Mineral Properties Summary Of Mineral Property Expenditures 70 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 71 | ' | 11,566 |
Mineral Properties Summary Of Mineral Property Expenditures 72 | ' | 989,443 |
Mineral Properties Summary Of Mineral Property Expenditures 73 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 74 | ' | 989,443 |
Mineral Properties Summary Of Mineral Property Expenditures 75 | ' | 867 |
Mineral Properties Summary Of Mineral Property Expenditures 76 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 77 | ' | 867 |
Mineral Properties Summary Of Mineral Property Expenditures 78 | ' | 27,890 |
Mineral Properties Summary Of Mineral Property Expenditures 79 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 80 | ' | 27,890 |
Mineral Properties Summary Of Mineral Property Expenditures 81 | ' | 16,959 |
Mineral Properties Summary Of Mineral Property Expenditures 82 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 83 | ' | 16,959 |
Mineral Properties Summary Of Mineral Property Expenditures 84 | ' | 7,008 |
Mineral Properties Summary Of Mineral Property Expenditures 85 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 86 | ' | 7,008 |
Mineral Properties Summary Of Mineral Property Expenditures 87 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 88 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 89 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 90 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 91 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 92 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 93 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 94 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 95 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 96 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 97 | ' | 11,736 |
Mineral Properties Summary Of Mineral Property Expenditures 98 | ' | 11,736 |
Mineral Properties Summary Of Mineral Property Expenditures 99 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 100 | ' | 1,367 |
Mineral Properties Summary Of Mineral Property Expenditures 101 | ' | 1,367 |
Mineral Properties Summary Of Mineral Property Expenditures 102 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 103 | ' | 959 |
Mineral Properties Summary Of Mineral Property Expenditures 104 | ' | 959 |
Mineral Properties Summary Of Mineral Property Expenditures 105 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 106 | ' | 3,143 |
Mineral Properties Summary Of Mineral Property Expenditures 107 | ' | 3,143 |
Mineral Properties Summary Of Mineral Property Expenditures 108 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 109 | ' | 3,639 |
Mineral Properties Summary Of Mineral Property Expenditures 110 | ' | 3,639 |
Mineral Properties Summary Of Mineral Property Expenditures 111 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 112 | ' | 25,143 |
Mineral Properties Summary Of Mineral Property Expenditures 113 | ' | 25,143 |
Mineral Properties Summary Of Mineral Property Expenditures 114 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 115 | ' | 39,663 |
Mineral Properties Summary Of Mineral Property Expenditures 116 | ' | 39,663 |
Mineral Properties Summary Of Mineral Property Expenditures 117 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 118 | ' | 35,324 |
Mineral Properties Summary Of Mineral Property Expenditures 119 | ' | 35,324 |
Mineral Properties Summary Of Mineral Property Expenditures 120 | ' | 0 |
Mineral Properties Summary Of Mineral Property Expenditures 121 | ' | 37,356 |
Mineral Properties Summary Of Mineral Property Expenditures 122 | ' | 37,356 |
Mineral Properties Summary Of Mineral Property Expenditures 123 | ' | 1,042,167 |
Mineral Properties Summary Of Mineral Property Expenditures 124 | ' | 158,330 |
Mineral Properties Summary Of Mineral Property Expenditures 125 | ' | 1,200,497 |
Mineral Properties Summary Of Mineral Property Expenditures 1 | 1,042,167 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 2 | 158,330 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 3 | 1,200,497 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 4 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 5 | 21,561 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 6 | 21,561 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 7 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 8 | 23,437 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 9 | 23,437 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 10 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 11 | 266,644 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 12 | 266,644 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 13 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 14 | 84,177 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 15 | 84,177 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 16 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 17 | 2,235 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 18 | 2,235 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 19 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 20 | 38,036 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 21 | 38,036 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 22 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 23 | 6,963 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 24 | 6,963 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 25 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 26 | 82,239 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 27 | 82,239 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 28 | 1,042,167 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 29 | 683,622 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 30 | 1,725,789 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 31 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 32 | 8,140 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 33 | 8,140 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 34 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 35 | 20,468 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 36 | 20,468 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 37 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 38 | 46,495 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 39 | 46,495 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 40 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 41 | 4,521 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 42 | 4,521 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 43 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 44 | 3,269 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 45 | 3,269 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 46 | 12,280 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 47 | 12,280 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 48 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 49 | 8,807 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 50 | 8,807 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 51 | 0 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 52 | 36,754 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 53 | 36,754 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 54 | 1,042,167 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 55 | 824,356 | ' |
Mineral Properties Summary Of Mineral Property Expenditures 56 | $1,866,523 | ' |
Schedule_of_Purchase_Net_Asset
Schedule of Purchase Net Assets (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Mineral Properties Schedule Of Purchase Net Assets 1 | $310,438 |
Mineral Properties Schedule Of Purchase Net Assets 2 | 2,200,000 |
Mineral Properties Schedule Of Purchase Net Assets 3 | 27,749 |
Mineral Properties Schedule Of Purchase Net Assets 4 | 2,538,187 |
Mineral Properties Schedule Of Purchase Net Assets 5 | 122,134 |
Mineral Properties Schedule Of Purchase Net Assets 6 | 3,148,740 |
Mineral Properties Schedule Of Purchase Net Assets 7 | -732,687 |
Mineral Properties Schedule Of Purchase Net Assets 8 | $2,538,187 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Equipment Property, Plant And Equipment 1 | $13,759 |
Equipment Property, Plant And Equipment 2 | 12,452 |
Equipment Property, Plant And Equipment 3 | 1,307 |
Equipment Property, Plant And Equipment 4 | 13,747 |
Equipment Property, Plant And Equipment 5 | 11,740 |
Equipment Property, Plant And Equipment 6 | 2,007 |
Equipment Property, Plant And Equipment 7 | 61,290 |
Equipment Property, Plant And Equipment 8 | 20,954 |
Equipment Property, Plant And Equipment 9 | 40,336 |
Equipment Property, Plant And Equipment 10 | 60,239 |
Equipment Property, Plant And Equipment 11 | 14,698 |
Equipment Property, Plant And Equipment 12 | 45,541 |
Equipment Property, Plant And Equipment 13 | 3,652 |
Equipment Property, Plant And Equipment 14 | 2,091 |
Equipment Property, Plant And Equipment 15 | 1,561 |
Equipment Property, Plant And Equipment 16 | 3,627 |
Equipment Property, Plant And Equipment 17 | 1,473 |
Equipment Property, Plant And Equipment 18 | 2,154 |
Equipment Property, Plant And Equipment 19 | 167,452 |
Equipment Property, Plant And Equipment 20 | 32,172 |
Equipment Property, Plant And Equipment 21 | 135,280 |
Equipment Property, Plant And Equipment 22 | 163,049 |
Equipment Property, Plant And Equipment 23 | 16,398 |
Equipment Property, Plant And Equipment 24 | 146,651 |
Equipment Property, Plant And Equipment 25 | 246,153 |
Equipment Property, Plant And Equipment 26 | 67,669 |
Equipment Property, Plant And Equipment 27 | 178,484 |
Equipment Property, Plant And Equipment 28 | 240,662 |
Equipment Property, Plant And Equipment 29 | 44,309 |
Equipment Property, Plant And Equipment 30 | $196,353 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $24,570,000 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0.204 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | 0 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | $24,570,000 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 0.204 |
Schedule_of_Stockholders_Equit1
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $) | 6 Months Ended |
Nov. 30, 2013 | |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $3,817,500 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 0.5 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 20,752,500 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 0.15 |
Capital Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | $24,570,000 |