Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Oct. 31, 2013 | |
Document and Entity Information: | ' |
Entity Registrant Name | 'RED METAL RESOURCES, LTD. |
Document Type | '10-Q |
Document Period End Date | 31-Oct-13 |
Amendment Flag | 'false |
Entity Central Index Key | '0001358654 |
Current Fiscal Year End Date | '--01-31 |
Entity Common Stock, Shares Outstanding | 32,956,969 |
Entity Filer Category | 'Smaller Reporting Company |
Entity Current Reporting Status | 'Yes |
Entity Voluntary Filers | 'No |
Entity Well-known Seasoned Issuer | 'No |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q3 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Current Assets | ' | ' |
Cash | $38,689 | $3,151 |
Prepaids and other receivables | 2,024 | 991 |
Total Current Assets | 40,713 | 4,142 |
Equipment | 9,681 | 12,224 |
Unproved mineral properties | 836,239 | 852,611 |
Total Assets | 886,633 | 868,977 |
Current Liabilities | ' | ' |
Accounts payable | 344,702 | 302,018 |
Accrued liabilities | 154,441 | 142,126 |
Due to related parties | 881,032 | 1,308,982 |
Notes payable to related parties | 280,700 | 334,128 |
Total Current Liabilities | 1,660,875 | 2,087,254 |
Total Liabilities | 1,660,875 | 2,087,254 |
Stockholders' Deficit | ' | ' |
Common stock value | 32,957 | 17,957 |
Additional paid-in capital | 6,563,101 | 5,958,101 |
Deficit accumulated during the exploration stage | 7,341,117 | 7,085,429 |
Accumulated other comprehensive loss | -29,183 | -108,906 |
Total Stockholders' Deficit | -774,242 | -1,218,277 |
Total Liabilities and Stockholders' Deficit | $886,633 | $868,977 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Balance Sheet | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 32,956,969 | 17,956,969 |
Common stock, shares outstanding | 32,956,969 | 17,956,969 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | 106 Months Ended | ||
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Revenue | ' | ' | ' | ' | ' |
Royalties | ' | ' | ' | ' | $15,658 |
Geological services | ' | ' | ' | 7,804 | 7,804 |
Total revenue | ' | ' | ' | 7,804 | 23,462 |
Operating expenses | ' | ' | ' | ' | ' |
Administration | 13,814 | 10,026 | 39,556 | 30,227 | 399,107 |
Advertising and promotion | 3,701 | -1,705 | 9,197 | 39,839 | 576,272 |
Amortization | 792 | 1,082 | 2,543 | 3,489 | 10,139 |
Automobile | 808 | 720 | 3,838 | 6,194 | 104,385 |
Bank charges | 1,235 | 1,601 | 3,694 | 5,077 | 33,026 |
Consulting fees | 30,001 | 15,902 | 95,972 | 176,024 | 1,113,302 |
Interest on current debt | 12,961 | 62,701 | 67,526 | 138,375 | 446,021 |
IVA expense | 595 | 659 | 2,103 | 3,823 | 40,523 |
Mineral exploration costs | -298 | 50,174 | 29,833 | 233,370 | 2,166,939 |
Office | 3,178 | 3,807 | 13,348 | 18,226 | 87,474 |
Professional development | ' | ' | ' | ' | 5,116 |
Professional fees | 16,238 | 276 | 53,572 | 76,698 | 853,177 |
Rent | 3,262 | 3,364 | 10,079 | 10,165 | 78,929 |
Regulatory | 6,652 | 7,192 | 14,164 | 35,533 | 130,894 |
Travel and entertainment | 195 | 406 | 3,580 | 29,940 | 328,483 |
Salaries, wages and benefits | 13,452 | 17,717 | 50,972 | 62,776 | 268,831 |
Stock based compensation | ' | ' | ' | ' | 527,318 |
Foreign exchange loss (gain) | 275 | 423 | -289 | -142 | 14,329 |
Write-down of unproved mineral properties | ' | 76,233 | 6,000 | 83,159 | 330,314 |
Total operating expenses | 106,861 | 250,578 | 405,688 | 952,773 | 7,514,579 |
Other items | ' | ' | ' | ' | ' |
Gain on settlement of debt | 150,000 | ' | 150,000 | ' | 150,000 |
Net income (loss) | $43,139 | ($250,578) | ($255,688) | ($944,969) | ($7,341,117) |
Net income (loss) per share - basic and diluted | $0 | ($0.01) | ($0.01) | ($0.05) | ' |
Weighted average number of shares outstanding - basic and diluted | 31,000,447 | 17,956,969 | 22,352,573 | 17,834,531 | ' |
Consolidated_Statement_of_Stoc
Consolidated Statement of Stockholders' Deficit (USD $) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Gain (Loss) | Total |
Beginning Balance, amount at Jan. 31, 2012 | $17,190 | $5,466,744 | ($5,985,007) | ($86,521) | ($587,594) |
Beginning Balance, shares at Jan. 31, 2012 | 17,189,634 | ' | ' | ' | ' |
Extinguishment of related party debt | ' | 171,827 | ' | ' | 171,827 |
Warrants exercised for cash, shares | 500,000 | ' | ' | ' | ' |
Warrants exercised for cash, value | 500 | 149,500 | ' | ' | 150,000 |
Common stock issued for cash, shares | 267,335 | ' | ' | ' | ' |
Common stock issued for cash, value | 267 | 120,034 | ' | ' | 120,301 |
Foreign currency exchange gain (loss) | ' | ' | ' | -16,481 | -16,481 |
Net income (loss) for the period | ' | ' | -944,969 | ' | -944,969 |
Ending Balance, amount at Oct. 31, 2012 | 17,957 | 5,908,105 | -6,929,976 | -103,002 | -1,106,916 |
Ending Balance, shares at Oct. 31, 2012 | 17,956,969 | ' | ' | ' | ' |
Extinguishment of related party debt | ' | 19,996 | ' | ' | 19,996 |
Donated services | ' | 30,000 | ' | ' | 30,000 |
Foreign currency exchange gain (loss) | ' | ' | ' | -5,904 | -5,904 |
Net income (loss) for the period | ' | ' | -155,453 | ' | -155,453 |
Ending Balance, amount at Jan. 31, 2013 | 17,957 | 5,958,101 | -7,085,429 | -108,906 | -1,218,277 |
Beginning Balance, shares at Jan. 31, 2013 | 17,956,969 | ' | ' | ' | ' |
Donated services | ' | 20,000 | ' | ' | 20,000 |
Common stock issued for debt, shares | 15,000,000 | ' | ' | ' | ' |
Common stock issued for debt, value | 15,000 | 585,000 | ' | ' | 600,000 |
Foreign currency exchange gain (loss) | ' | ' | ' | 79,723 | 79,723 |
Net income (loss) for the period | ' | ' | -255,688 | ' | -255,688 |
Ending Balance, amount at Oct. 31, 2013 | $32,957 | $6,563,101 | ($7,341,117) | ($29,183) | ($774,242) |
Ending Balance, shares at Oct. 31, 2013 | 32,956,969 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 106 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | Oct. 31, 2013 | |
Cash Flows used in Operating Activities | ' | ' | ' |
Net loss | ($255,688) | ($944,969) | ($7,341,117) |
Adjustment to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Donated services and rent | 20,000 | ' | 64,250 |
Write-down of unproved properties | 6,000 | 83,159 | 330,315 |
Amortization | 2,543 | 3,489 | 10,139 |
Stock based compensation | ' | ' | 527,318 |
Gain on extinguishment of debt | -150,000 | ' | -150,000 |
Changes in operating assets and liabilities: | ' | ' | ' |
Prepaids and other receivables | -1,020 | 39,824 | -2,011 |
Accounts payable | 43,817 | 76,825 | 345,835 |
Accrued liabilities | 25,185 | 21,021 | 308,035 |
Due to related parties | 231,241 | 506,331 | 2,070,070 |
Accrued interest on notes payable to related party | 19,285 | 15,738 | 124,860 |
Net cash used in operating activities | -58,637 | -198,582 | -3,712,306 |
Cash Flows from Investing Activities | ' | ' | ' |
Purchase of equipment | ' | ' | 19,820 |
Option payments received on mineral properties | 75,000 | ' | 75,000 |
Acquisition of unproved mineral properties | 77,498 | 130,916 | 1,393,478 |
Net cash used in investing activities | -2,498 | -130,916 | -1,338,298 |
Cash Flows from Financing Activities | ' | ' | ' |
Cash received on issuance of notes payable to related party | 51,308 | 118,944 | 1,343,619 |
Repayment of related party notes, includig accrued interest | ' | 56,553 | 70,935 |
Proceeds from issuance of common stock | ' | 270,301 | 3,880,150 |
Net cash provided by financing activities | 51,308 | 332,692 | 5,152,834 |
Effect of foreign currency exchange | 45,365 | -15,755 | -63,541 |
Increase (decrease) in cash | 35,538 | -12,561 | 38,689 |
Cash, beginning of period | 3,151 | 24,467 | ' |
Cash, end of period | 38,689 | 11,906 | 38,689 |
Supplemental Disclosure of Cash Flow Information: | ' | ' | ' |
Income tax | ' | ' | ' |
Interest | ' | ($1,778) | ($8,331) |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 3 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Organization and Basis of Presentation | ' |
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION | |
Nature of Operations | |
Red Metal Resources Ltd. (the “Company”) was incorporated on January 10, 2005, under the laws of the State of Nevada. On August 21, 2007, the Company acquired a 99% interest in Minera Polymet Limitada (“Polymet”), a limited liability company formed on August 21, 2007, under the laws of the Republic of Chile. The Company is involved in acquiring and exploring mineral properties in Chile. The Company has not determined whether its properties contain mineral reserves that are economically recoverable. | |
Unaudited Interim Consolidated Financial Statements | |
The unaudited interim financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). They do not include all information and footnotes required by GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended January 31, 2013, included in the Company’s Annual Report on Form 10-K, filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements included in Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine month period ended October 31, 2013 are not necessarily indicative of the results that may be expected for the year ending January 31, 2014. | |
Recent Accounting Pronouncements | |
The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. It does not expect the adoption of these pronouncements to have a material impact on its financial position, results of operations or cash flows. |
Relatedparty_Transactions
Related-party Transactions | 3 Months Ended | |||
Oct. 31, 2013 | ||||
Notes | ' | |||
Related-party Transactions | ' | |||
NOTE 2 - RELATED-PARTY TRANSACTIONS | ||||
The following amounts were due to related parties as at: | ||||
Due to Related Parties | 31-Oct-13 | 31-Jan-13 | ||
Due to a company owned by an officer (a) | $333,166 | $269,097 | ||
Due to a company controlled by directors (b) | 393,110 | 894,377 | ||
Due to a director (a) | 3,020 | -- | ||
Due to a company controlled by a major shareholder (a) | 104,859 | 94,588 | ||
Due to a major shareholder (a) | 46,877 | 50,920 | ||
Total due to related parties | $881,032 | $1,308,982 | ||
Notes Payable to Related Parties | ||||
Note payable to a director (c) | $191,925 | $136,532 | ||
Note payable to an officer (c) | 9,775 | 9,210 | ||
Note payable to a major shareholder (c) | 8,172 | 118,797 | ||
Note payable to a company controlled by directors (c) | 70,828 | 69,589 | ||
Total notes payable to related parties | $280,700 | $334,128 | ||
(a) Amounts are unsecured, are due on demand and bear no interest. | ||||
(b) Amount is unsecured, due on demand, and bears simple interest at 10%. | ||||
(c) The notes payable to related parties are due on demand, unsecured and bear interest at 8%. | ||||
During the nine months ended October 31, 2013 and 2012 interest expense of $19,285 and $15,738, respectively, was incurred on the related party notes. | ||||
Transactions with Related Parties | ||||
During the nine months ended October 31, 2013 and 2012, the Company incurred the following direct expenses with related parties: | ||||
31-Oct-13 | 31-Oct-12 | |||
Consulting fees paid or accrued to a company owned by the Chief Financial Officer | $70,000 | $158,118 | ||
Consulting fees donated by a company owned by the Chief Financial Officer | 20,000 | - | ||
Mineral exploration fees paid to a company controlled by two directors | 22,997 | 167,604 | ||
Rental fees paid to a company controlled by a major shareholder | 10,079 | 10,165 | ||
$90,148 | $299,986 | |||
These transactions were in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. |
Settlement_of_Debt
Settlement of Debt | 3 Months Ended | ||
Oct. 31, 2013 | |||
Notes | ' | ||
Settlement of Debt | ' | ||
NOTE 3 - SETTLEMENT OF DEBT | |||
In July 2013, $750,000 of debt owed to related parties was reassigned to non-related parties. The amounts reassigned to non-related debt holders are presented in the table below: | |||
Debt reassigned to non-related parties by related parties | 31-Oct-13 | ||
Partial reduction of a debt due to a company controlled by directors | $560,000 | ||
Partial reduction of the note and accrued interest due to a major shareholder | 115,000 | ||
Partial reduction of a debt due to a company controlled by a major shareholder | 75,000 | ||
Total debt reassigned to non-related parties | $750,000 | ||
On August 12, 2013, the Company entered into agreement to convert the $750,000 in debt into 15,000,000 shares of the common stock of the Company (Note 5). This resulted in a gain on debt settlement in the amount of $150,000. |
Unproved_Mineral_Properties
Unproved Mineral Properties | 3 Months Ended | |||||
Oct. 31, 2013 | ||||||
Notes | ' | |||||
Unproved Mineral Properties | ' | |||||
NOTE 4 - UNPROVED MINERAL PROPERTIES | ||||||
At October 31, 2013, the Company has three active projects which it is currently exploring and evaluating: the Farellon, Perth, and Mateo. These properties consist of both mining and exploration claims. | ||||||
Mineral Claims | Balance, | Additions / | Property | Write- | Balance, | |
January | Payments | Taxes Paid / | down | 31-Oct-13 | ||
31, 2013 | Accrued | |||||
Farellon Project | ||||||
Farellon Alto 1-8(1) | $ 580,234 | $ - | $ 8,910 | $ (4,838) | $ 584,306 | |
Cecil | 54,076 | - | 3,877 | -8,032 | 49,921 | |
634,310 | - | 12,787 | -12,870 | 634,227 | ||
Perth Project | ||||||
Perth(3) | 75,346 | -75,000 | 21,967 | - | 22,313 | |
Mateo Project | ||||||
Margarita | 19,099 | - | 476 | - | 19,575 | |
Che (2) | 25,079 | - | 1,292 | - | 26,371 | |
Irene | 48,142 | - | 510 | - | 48,652 | |
Mateo | 50,635 | - | 34,466 | - | 85,101 | |
142,955 | - | 36,744 | - | 179,699 | ||
Generative Claims | - | 6,000 | - | -6,000 | - | |
Total Costs | $852,611 | ($69,000) | $71,498 | ($18,870) | $836,239 | |
(1) The claim is subject to a 1.5% royalty on the net sales of minerals extracted from the property to a total of $600,000. The royalty payments are due monthly once exploitation begins, and are subject to minimum payments of $1,000 per month. The Company has no obligation to pay the royalty if it does not commence exploitation. | ||||||
(2) The claims are subject to a 1% royalty on the net sales of minerals extracted from the property to a total of $100,000. The royalty payments are due monthly once exploitation begins and are not subject to minimum payments. The Company has no obligation to pay the royalty if it does not commence exploitation. | ||||||
(3) See Perth Project discussion below. | ||||||
Perth Project | ||||||
On April 30, 2013, the Company granted Geoactiva SpA (“Geoactiva”) an option to purchase 100% of the Perth property through the execution of a mining option purchase agreement (the “Option Agreement”). | ||||||
To maintain the option and acquire the property, Geoactiva agreed to the following: | ||||||
Date | Option | Exploration | ||||
Payments | Expenditures | |||||
April 30, 2013 (paid) | $37,500 | $ - | ||||
October 30, 2013 (paid) | 37,500 | - | ||||
30-Apr-14 | 50,000 | 500,000 | ||||
30-Oct-14 | 50,000 | - | ||||
30-Apr-15 | 100,000 | 1,000,000 | ||||
30-Oct-15 | 100,000 | - | ||||
30-Apr-16 | 125,000 | 1,000,000 | ||||
30-Oct-16 | 250,000 | - | ||||
30-Apr-17 | 250,000 | 1,000,000 | ||||
Total | $1,000,000 | $3,500,000 | ||||
Upon exercise of the Option Agreement and once the commercial production begins, Geoactiva will pay the Company Net Smelter Royalty (“NSR”) of 1.5% from the sale of gold, copper, and cobalt extracted from the Perth property. At any time after the exercise of the Option Agreement and Geoactiva’s fulfilment of the investment commitment of $3,500,000 in exploration expenditures, Geoactiva may purchase 100% of the NSR as follows: | ||||||
Gold: paying $5 per inferred ounce of gold, according to the definition of Inferred Mineral Resource in the CIM Definition Standards on Mineral Resources and Mineral Reserves. | ||||||
Copper: $0.005 per inferred ounce of copper, according to the definition of Inferred Mineral Resource in the CIM Definition Standards on Mineral Resources and Mineral Reserves. | ||||||
Cobalt: If Geoactiva acquires the NSR with respect to gold, copper, or both, the NSR relating to cobalt will be terminated. |
Common_Stock_Note
Common Stock Note | 3 Months Ended | ||
Oct. 31, 2013 | |||
Notes | ' | ||
Common Stock Note | ' | ||
NOTE 5 - COMMON STOCK | |||
On August 12, 2013 the Company converted $750,000 in notes payable issued to non-affiliated debt holders by issuing 15,000,000 shares of its common stock. The fair value of the shares was $600,000 and the Company recognized a gain on settlement of debt of $150,000. | |||
Warrants | 31-Oct-13 | 31-Jan-13 | |
Opening Balance | 7,187,001 | 7,459,666 | |
Granted | - | 267,335 | |
Exercised | - | -500,000 | |
Expired | - | -40,000 | |
Closing Balance | 7,187,001 | 7,187,001 | |
On April 5, 2013, the Company extended the term of the warrants issued as part of the April 7, 2011 private equity financing for an additional year, from April 7, 2013 to April 7, 2014, and lowered the exercise price to $0.10. The incremental increase in fair value of the modified warrants is $526,690. | |||
The weighted average life of the warrants at October 31, 2013 is 0.43 years and weighted average exercise price - $0.12. | |||
Options | |||
There were no options issued during the nine months ended October 31, 2013. | |||
On September 2, 2013, all of the remaining 1,040,000 options expired unexercised. |
Subsequent_Event
Subsequent Event | 3 Months Ended |
Oct. 31, 2013 | |
Notes | ' |
Subsequent Event | ' |
NOTE 6 - SUBSEQUENT EVENT | |
On November 25, 2013 the Company extended the term of the warrants issued as part of the April 27, 2012 private equity financing for an additional year, from April 27, 2014 to April 27, 2015, and lowered the exercise price to $0.10. |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation: Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Oct. 31, 2013 | |
Policies | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. It does not expect the adoption of these pronouncements to have a material impact on its financial position, results of operations or cash flows. |
Relatedparty_Transactions_Sche
Related-party Transactions: Schedule of Related Party Transactions (Tables) | 3 Months Ended | |||
Oct. 31, 2013 | ||||
Tables/Schedules | ' | |||
Schedule of Related Party Transactions | ' | |||
Due to Related Parties | 31-Oct-13 | 31-Jan-13 | ||
Due to a company owned by an officer (a) | $333,166 | $269,097 | ||
Due to a company controlled by directors (b) | 393,110 | 894,377 | ||
Due to a director (a) | 3,020 | -- | ||
Due to a company controlled by a major shareholder (a) | 104,859 | 94,588 | ||
Due to a major shareholder (a) | 46,877 | 50,920 | ||
Total due to related parties | $881,032 | $1,308,982 | ||
Notes Payable to Related Parties | ||||
Note payable to a director (c) | $191,925 | $136,532 | ||
Note payable to an officer (c) | 9,775 | 9,210 | ||
Note payable to a major shareholder (c) | 8,172 | 118,797 | ||
Note payable to a company controlled by directors (c) | 70,828 | 69,589 | ||
Total notes payable to related parties | $280,700 | $334,128 |
Relatedparty_Transactions_Tran
Related-party Transactions: Transactions with Related Parties (Tables) | 3 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Transactions with Related Parties | ' | ||
31-Oct-13 | 31-Oct-12 | ||
Consulting fees paid or accrued to a company owned by the Chief Financial Officer | $70,000 | $158,118 | |
Consulting fees donated by a company owned by the Chief Financial Officer | 20,000 | - | |
Mineral exploration fees paid to a company controlled by two directors | 22,997 | 167,604 | |
Rental fees paid to a company controlled by a major shareholder | 10,079 | 10,165 | |
$90,148 | $299,986 |
Settlement_of_Debt_Debt_reassi
Settlement of Debt: Debt reassigned to non-related parties by related parties (Tables) | 3 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Debt reassigned to non-related parties by related parties | ' | ||
Debt reassigned to non-related parties by related parties | 31-Oct-13 | ||
Partial reduction of a debt due to a company controlled by directors | $560,000 | ||
Partial reduction of the note and accrued interest due to a major shareholder | 115,000 | ||
Partial reduction of a debt due to a company controlled by a major shareholder | 75,000 | ||
Total debt reassigned to non-related parties | $750,000 |
Unproved_Mineral_Properties_Sc
Unproved Mineral Properties: Schedule of Unproved Mineral Properties (Tables) | 3 Months Ended | |||||
Oct. 31, 2013 | ||||||
Tables/Schedules | ' | |||||
Schedule of Unproved Mineral Properties | ' | |||||
Mineral Claims | Balance, | Additions / | Property | Write- | Balance, | |
January | Payments | Taxes Paid / | down | 31-Oct-13 | ||
31, 2013 | Accrued | |||||
Farellon Project | ||||||
Farellon Alto 1-8(1) | $ 580,234 | $ - | $ 8,910 | $ (4,838) | $ 584,306 | |
Cecil | 54,076 | - | 3,877 | -8,032 | 49,921 | |
634,310 | - | 12,787 | -12,870 | 634,227 | ||
Perth Project | ||||||
Perth(3) | 75,346 | -75,000 | 21,967 | - | 22,313 | |
Mateo Project | ||||||
Margarita | 19,099 | - | 476 | - | 19,575 | |
Che (2) | 25,079 | - | 1,292 | - | 26,371 | |
Irene | 48,142 | - | 510 | - | 48,652 | |
Mateo | 50,635 | - | 34,466 | - | 85,101 | |
142,955 | - | 36,744 | - | 179,699 | ||
Generative Claims | - | 6,000 | - | -6,000 | - | |
Total Costs | $852,611 | ($69,000) | $71,498 | ($18,870) | $836,239 |
Unproved_Mineral_Properties_Sc1
Unproved Mineral Properties: Schedule of Exploration Expenses (Tables) | 3 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Exploration Expenses | ' | ||
Date | Option | Exploration | |
Payments | Expenditures | ||
April 30, 2013 (paid) | $37,500 | $ - | |
October 30, 2013 (paid) | 37,500 | - | |
30-Apr-14 | 50,000 | 500,000 | |
30-Oct-14 | 50,000 | - | |
30-Apr-15 | 100,000 | 1,000,000 | |
30-Oct-15 | 100,000 | - | |
30-Apr-16 | 125,000 | 1,000,000 | |
30-Oct-16 | 250,000 | - | |
30-Apr-17 | 250,000 | 1,000,000 | |
Total | $1,000,000 | $3,500,000 |
Common_Stock_Note_Schedule_of_
Common Stock Note: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables) | 3 Months Ended | ||
Oct. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Stockholders' Equity Note, Warrants or Rights | ' | ||
Warrants | 31-Oct-13 | 31-Jan-13 | |
Opening Balance | 7,187,001 | 7,459,666 | |
Granted | - | 267,335 | |
Exercised | - | -500,000 | |
Expired | - | -40,000 | |
Closing Balance | 7,187,001 | 7,187,001 |
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation (Details) | Aug. 21, 2007 |
Details | ' |
Business acquisition, interest acquired | 99.00% |
Relatedparty_Transactions_Sche1
Related-party Transactions: Schedule of Related Party Transactions (Details) (USD $) | Oct. 31, 2013 | Jan. 31, 2013 |
Due to related party | $881,032 | $1,308,982 |
Notes payable to related party | 280,700 | 334,128 |
Company Owned by Officer | ' | ' |
Due to related party | 333,166 | 269,097 |
Company Controlled by Directors | ' | ' |
Due to related party | 393,110 | 894,377 |
Notes payable to related party | 70,828 | 69,589 |
Director | ' | ' |
Due to related party | 3,020 | ' |
Notes payable to related party | 191,925 | 136,532 |
Company Controlled by Major Shareholder | ' | ' |
Due to related party | 104,859 | 94,588 |
Majority Shareholder | ' | ' |
Due to related party | 46,877 | 50,920 |
Notes payable to related party | 8,172 | 118,797 |
Officer | ' | ' |
Notes payable to related party | $9,775 | $9,210 |
Relatedparty_Transactions_Deta
Related-party Transactions (Details) (USD $) | 9 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Details | ' | ' |
Interest expense | $19,285 | $15,738 |
Relatedparty_Transactions_Tran1
Related-party Transactions: Transactions with Related Parties (Details) (USD $) | 9 Months Ended | |
Oct. 31, 2013 | Oct. 31, 2012 | |
Related Party Transaction, Amounts of Transaction | $90,148 | $299,986 |
Company Owned by the Chief Financial Officer | ' | ' |
Related Party Transaction, Amounts of Transaction | 20,000 | 158,118 |
Company Controlled by Directors | ' | ' |
Related Party Transaction, Amounts of Transaction | 22,997 | 167,604 |
Company Controlled by Major Shareholder | ' | ' |
Related Party Transaction, Amounts of Transaction | $10,079 | $10,165 |
Settlement_of_Debt_Debt_reassi1
Settlement of Debt: Debt reassigned to non-related parties by related parties (Details) (USD $) | Oct. 31, 2013 |
Debt reassigned | $750,000 |
Company Controlled by Directors | ' |
Debt reassigned | 560,000 |
Majority Shareholder | ' |
Debt reassigned | 115,000 |
Company Controlled by Major Shareholder | ' |
Debt reassigned | $75,000 |
Settlement_of_Debt_Details
Settlement of Debt (Details) (USD $) | 3 Months Ended | 9 Months Ended | 106 Months Ended |
Oct. 31, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | |
Details | ' | ' | ' |
Gain on debt settlement | $150,000 | $150,000 | $150,000 |
Unproved_Mineral_Properties_Sc2
Unproved Mineral Properties: Schedule of Unproved Mineral Properties (Details) (USD $) | 9 Months Ended | |
Oct. 31, 2013 | Jan. 31, 2013 | |
Mineral claims, balance | $836,239 | $852,611 |
Mineral claims, property taxes | 71,498 | ' |
Mineral claims, write-down | -18,870 | ' |
Mineral claims, additions / payments | -69,000 | ' |
Farellon Project | ' | ' |
Mineral claims, balance | 634,227 | 634,310 |
Mineral claims, property taxes | 12,787 | ' |
Mineral claims, write-down | -12,870 | ' |
Perth Project | ' | ' |
Mineral claims, balance | 22,313 | 75,346 |
Mineral claims, property taxes | 21,967 | ' |
Mineral claims, additions / payments | -75,000 | ' |
Mateo Project | ' | ' |
Mineral claims, balance | 179,699 | 142,955 |
Mineral claims, property taxes | 36,744 | ' |
Generative Claims | ' | ' |
Mineral claims, write-down | -6,000 | ' |
Mineral claims, additions / payments | $6,000 | ' |
Unproved_Mineral_Properties_Sc3
Unproved Mineral Properties: Schedule of Exploration Expenses (Details) (Perth Project, USD $) | 1 Months Ended | ||||||||
Apr. 30, 2017 | Oct. 30, 2016 | Apr. 30, 2016 | Oct. 30, 2015 | Apr. 30, 2015 | Oct. 30, 2014 | Apr. 30, 2014 | Oct. 30, 2013 | Apr. 30, 2013 | |
Perth Project | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option payments received | ' | ' | ' | ' | ' | ' | ' | $37,500 | $37,500 |
Option Payments due to company | 250,000 | 250,000 | 125,000 | 100,000 | 100,000 | 50,000 | 50,000 | ' | ' |
Exploration expenses to be incured | 1,000,000 | ' | 1,000,000 | ' | 1,000,000 | ' | 500,000 | ' | ' |
Total agreed purchase amount | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 |
Total exploration expenses agreed to be incurred | ' | ' | ' | ' | ' | ' | ' | ' | $3,500,000 |
Common_Stock_Note_Details
Common Stock Note (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Sep. 02, 2013 | Apr. 05, 2013 | Nov. 25, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | Aug. 12, 2013 | |
Details | ' | ' | ' | ' | ' | ' |
Notes payable converted | ' | ' | ' | $750,000 | ' | ' |
Shares of common stock issued for debt conversion | ' | ' | ' | ' | ' | 15,000,000 |
Fair value of shares issued for debt converted | ' | ' | ' | 600,000 | ' | ' |
Exercise price, warrants | ' | $0.10 | ' | ' | ' | ' |
Fair value of the warrants | ' | $526,690 | ' | ' | ' | ' |
Weighted average life of warrants | ' | ' | ' | ' | 0.43 | ' |
Weighted average exercise price of warrants | ' | ' | $0.10 | ' | $0.12 | ' |
Expired options, unexercised | 1,040,000 | ' | ' | ' | ' | ' |
Common_Stock_Note_Schedule_of_1
Common Stock Note: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) | Oct. 31, 2013 | Jan. 31, 2013 |
Details | ' | ' |
Warrants outstanding | 7,187,001 | 7,459,666 |
Warrants Granted | ' | 267,335 |
Warrants Exercised | ' | -500,000 |
Warrants Expired | ' | -40,000 |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 1 Months Ended | 9 Months Ended |
Nov. 25, 2013 | Oct. 31, 2013 | |
Details | ' | ' |
Weighted average exercise price of warrants | $0.10 | $0.12 |