Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2023 | May 12, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-150028 | |
Entity Registrant Name | BUNKER HILL MINING CORP. | |
Entity Central Index Key | 0001407583 | |
Entity Tax Identification Number | 32-0196442 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 82 Richmond Street East | |
Entity Address, City or Town | Toronto | |
Entity Address, State or Province | ON | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | M5C 1P1 | |
City Area Code | (416) | |
Local Phone Number | 477-7771 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 256,099,174 |
Condensed Interim Consolidated
Condensed Interim Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash | $ 3,592,558 | $ 708,105 |
Restricted cash | 6,476,000 | 6,476,000 |
Accounts receivable and prepaid expenses (note 3) | 515,491 | 556,947 |
Total current assets | 10,584,049 | 7,741,052 |
Non-current assets | ||
Spare parts inventory | 341,004 | 341,004 |
Equipment (note 4) | 566,516 | 551,204 |
Right-of-use asset (note 4) | 108,536 | |
Long term deposit | 269,015 | 269,015 |
Bunker Hill Mine and mining interests (note 5) | 15,966,737 | 15,896,645 |
Process plant (note 4) | 9,093,941 | 8,130,972 |
Total assets | 36,929,798 | 32,929,892 |
Current liabilities | ||
Accounts payable | 5,748,304 | 4,523,502 |
Accrued liabilities | 1,825,499 | 1,500,164 |
Current portion of lease liability (note 8) | 58,531 | |
Interest payable (note 7) | 595,358 | 1,154,477 |
Derivative warrant liability (note 9) | 1 | 903,697 |
Deferred share units liability (note 11) | 374,464 | 573,742 |
Promissory notes payable (note 7) | 1,500,000 | 1,500,000 |
Total current liabilities | 10,102,157 | 10,155,582 |
Non-current liabilities | ||
Bridge loan | 4,731,579 | 4,684,446 |
Series 1 convertible debenture (note 7) | 5,093,130 | 5,537,360 |
Series 2 convertible debenture (note 7) | 13,177,407 | 14,063,525 |
Royalty convertible debenture (note 7) | 9,119,412 | 10,285,777 |
Environment protection agency cost recovery liability, net of discount (note 6) | 8,315,772 | 7,941,466 |
Derivative warrant liability (note 9) | 5,612,778 | 6,438,679 |
Total liabilities | 56,152,235 | 59,106,835 |
Shareholders’ Deficiency | ||
Preferred shares, $0.000001 par value, 10,000,000 preferred shares authorized; Nil preferred shares issued and outstanding (note 9) | ||
Common shares, $0.000001 par value, 1,500,000,000 common shares authorized; 256,099,174 and 229,501,661 common shares issued and outstanding, respectively (note 9) | 255 | 228 |
Additional paid-in-capital (note 9) | 48,033,043 | 45,161,513 |
Special warrants (note 9) | 1,484,788 | |
Accumulated other comprehensive income | 1,060,887 | 253,875 |
Accumulated deficit | (69,801,410) | (71,592,559) |
Total shareholders’ deficiency | (19,222,437) | (26,176,943) |
Total shareholders’ deficiency and liabilities | $ 36,929,798 | $ 32,929,892 |
Condensed Interim Consolidate_2
Condensed Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.000001 | $ 0.000001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value | $ 0.000001 | $ 0.000001 |
Common stock, shares authorized | 1,500,000,000 | 1,500,000,000 |
Common stock, shares issued | 256,099,174 | 229,501,661 |
Common stock, shares outstanding | 256,099,174 | 229,501,661 |
Condensed Interim Consolidate_3
Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating expenses | ||
Operation and administration | $ 879,992 | $ 259,712 |
Mine preparation | 2,507,079 | |
Legal and accounting | 534,911 | 362,736 |
Consulting and wages | 770,585 | 2,357,147 |
Loss from operations | (2,185,488) | (5,486,674) |
Other income or gain (expense or loss) | ||
Change in derivative liability (note 9) | 4,226,574 | 3,454,008 |
Gain on FV of convertible debentures (note 7) | 1,689,701 | |
Gain on modification of warrants (note 9) | 214,714 | |
Gain on foreign exchange | (2,886) | 27,920 |
Loss on FV of debenture derivative | (73,469) | |
Interest expense (note 7) | (1,324,629) | (735,237) |
Financing costs (note 9) | (576,751) | |
Debenture finance costs | (67,434) | |
Loss on debt settlement (note 7) | (250,086) | |
Net income (loss) for the period | 1,791,149 | (2,880,886) |
Other comprehensive income (loss), net of tax | ||
Gain on change in FV on own credit risk (note 7) | 807,012 | |
Other comprehensive income (loss) | 807,012 | |
Comprehensive income (loss) | $ 2,598,161 | $ (2,880,886) |
Net income/(loss) per common share – basic | $ 0.01 | $ (0.02) |
Net income/(loss) per common share – fully diluted | $ 0.01 | $ (0.02) |
Weighted average common shares – basic | 212,429,683 | 164,435,826 |
Weighted average common shares – fully diluted | 314,666,701 | 165,076,880 |
Condensed Interim Consolidate_4
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Operating activities | |||
Net income (loss) for the period | $ 1,791,149 | $ (2,880,886) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Stock-based compensation (note 10) | 34,391 | (54,735) | |
Depreciation expense | 51,076 | 78,457 | |
Change in fair value of warrant liability | (4,226,574) | (3,454,008) | |
Gain on warrant extinguishment | (214,714) | ||
Units issued for services | 68,656 | ||
Interest expense on lease liability (note 8) | 3,611 | 1,317 | |
Financing costs | (384,984) | ||
Foreign exchange loss (gain) | (27,920) | ||
Foreign exchange loss (gain) on re-translation of lease | 718 | ||
Loss on debt settlement | 250,086 | ||
Amortization of EPA discount | 374,307 | 138,427 | |
(Gain) loss on fair value of derivatives | (1,689,701) | 73,469 | |
Imputed interest expense on convertible debentures | 468,116 | ||
Changes in operating assets and liabilities: | |||
Accounts receivable and prepaid expenses | 236,893 | 6,905 | |
Prepaid finance costs | (524,674) | ||
Accounts payable | 954,046 | (383,159) | |
Accrued liabilities | 498,412 | 1,545,801 | |
Accrued EPA/IDEQ water treatment | 75,000 | ||
EPA cost recovery payable | (2,000,000) | ||
Interest payable | 892,753 | 97,493 | |
Net cash used in operating activities | (1,360,593) | (6,839,679) | |
Investing activities | |||
Deposit on plant | (500,000) | ||
Land purchase | (202,000) | ||
Bunker Hill mine purchase | (5,524,322) | ||
Process plant | (93,765) | ||
Mine improvements | (280,466) | ||
Purchase of machinery and equipment | (60,004) | (153,350) | |
Net cash used in investing activities | (434,235) | (6,379,672) | |
Financing activities | |||
Proceeds from convertible debentures | 14,000,000 | ||
Proceeds from issuance of special warrants | 3,661,822 | ||
Proceeds from warrants exercise | 837,459 | ||
Proceeds from promissory note | 240,000 | ||
Proceeds from subscriptions received | 1,775,790 | ||
Lease payments | (60,000) | (32,422) | |
Net cash provided by financing activities | 4,679,281 | 15,743,368 | |
Net change in cash | 2,884,453 | 2,524,017 | |
Cash, beginning of period | 7,184,105 | 486,063 | $ 486,063 |
Cash and restricted cash end of period | 10,068,558 | 3,010,080 | 7,184,105 |
Non-cash activities | |||
Accounts payable, accrued liabilities, and promissory notes settled with special warrants issuance | 874,198 | ||
Interest payable settled with common shares | 1,368,724 | ||
Reconciliation from Cash Flow Statement to Balance Sheet: | |||
Less restricted cash | 6,476,000 | 6,476,000 | |
Cash end of period | $ 3,592,558 | $ 3,010,080 | $ 708,105 |
Condensed Interim Consolidate_5
Condensed Interim Consolidated Statements of Changes in Shareholders' Deficiency (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Beginning balance value | $ (26,176,943) | $ (34,242,368) |
Stock-based compensation | 233,668 | 145,186 |
Stock subscription received for units | 1,775,790 | |
Compensation options | 111,971 | |
Shares issued for interest payable | 1,618,827 | |
Shares issued for warrant exercise | 907,091 | |
Special warrants | 1,484,788 | |
Gain on fair value from change in credit risk | 807,012 | |
Net income (loss) | 1,791,149 | (2,880,886) |
Ending balance value | (19,222,437) | (35,202,278) |
Common Stock [Member] | ||
Beginning balance value | $ 228 | $ 164 |
Beginning balance, shares | 229,501,661 | 164,435,826 |
Stock-based compensation | ||
Stock subscription received for units | ||
Compensation options | ||
Shares issued for interest payable | $ 16 | |
Shares issued for interest payable, shares | 16,180,846 | |
Shares issued for warrant exercise | $ 11 | |
Shares issued for interest payable, shares | 10,416,667 | |
Special warrants | ||
Gain on fair value from change in credit risk | ||
Net income (loss) | ||
Ending balance value | $ 255 | $ 164 |
Ending balance, shares | 256,099,174 | 164,435,826 |
Additional Paid-in Capital [Member] | ||
Beginning balance value | $ 45,161,513 | $ 38,248,618 |
Stock-based compensation | 233,668 | 145,186 |
Stock subscription received for units | ||
Compensation options | 111,971 | |
Shares issued for interest payable | 1,618,811 | |
Shares issued for warrant exercise | 907,080 | |
Special warrants | ||
Gain on fair value from change in credit risk | ||
Net income (loss) | ||
Ending balance value | 48,033,043 | 38,393,804 |
Stock Subscriptions Payable [Member] | ||
Beginning balance value | ||
Stock-based compensation | ||
Stock subscription received for units | 1,775,790 | |
Compensation options | ||
Shares issued for interest payable | ||
Shares issued for warrant exercise | ||
Special warrants | ||
Gain on fair value from change in credit risk | ||
Net income (loss) | ||
Ending balance value | 1,775,790 | |
Warrant [Member] | ||
Beginning balance value | ||
Stock-based compensation | ||
Stock subscription received for units | ||
Compensation options | ||
Shares issued for interest payable | ||
Shares issued for warrant exercise | ||
Special warrants | 1,484,788 | |
Gain on fair value from change in credit risk | ||
Net income (loss) | ||
Ending balance value | 1,484,788 | |
AOCI Attributable to Parent [Member] | ||
Beginning balance value | 253,875 | |
Stock-based compensation | ||
Stock subscription received for units | ||
Compensation options | ||
Shares issued for interest payable | ||
Shares issued for warrant exercise | ||
Special warrants | ||
Gain on fair value from change in credit risk | 807,012 | |
Net income (loss) | ||
Ending balance value | 1,060,887 | |
Retained Earnings [Member] | ||
Beginning balance value | (71,592,559) | (72,491,150) |
Stock-based compensation | ||
Stock subscription received for units | ||
Compensation options | ||
Shares issued for interest payable | ||
Shares issued for warrant exercise | ||
Special warrants | ||
Gain on fair value from change in credit risk | ||
Net income (loss) | 1,791,149 | (2,880,886) |
Ending balance value | $ (69,801,410) | $ (75,372,036) |
Nature and Continuance of Opera
Nature and Continuance of Operations and Going Concern | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations and Going Concern | 1. Nature and Continuance of Operations and Going Concern Bunker Hill Mining Corp. (the “Company”) was incorporated under the laws of the state of Nevada The Company was incorporated for the purpose of engaging in mineral exploration activities. It continues to work at developing its project with a view towards putting it into production. Going Concern: These unaudited condensed interim consolidated financial statements have been prepared on a going concern basis. The Company has incurred losses since inception resulting in an accumulated deficit of $ 69,801,410 Management is considering various financing alternatives including, but not limited to, raising capital through the capital markets, debt, and closing on the multi-metals stream transaction (see note 7). These unaudited interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. The Russia/Ukraine Crisis: The Company’s operations could be adversely affected by the effects of the Russia/Ukraine crisis and the effects of sanctions imposed against Russia or that country’s retributions against those sanctions, embargos or further-reaching impacts upon energy prices, food prices and market disruptions. The Company cannot accurately predict the impact the crisis will have on its operations and the ability of contractors to meet their obligations with the Company, including uncertainties relating the severity of its effects, the duration of the conflict, and the length and magnitude of energy bans, embargos and restrictions imposed by governments. In addition, the crisis could adversely affect the economies and financial markets of the United States in general, resulting in an economic downturn that could further affect the Company’s operations and ability to finance its operations. Additionally, the Company cannot predict changes in precious metals pricing or changes in commodities pricing which may alternately affect the Company either positively or negatively. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, shareholders’ deficiency, or cash flows. It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, which contains the annual audited consolidated financial statements and notes thereto, together with the Management’s Discussion and Analysis, for the year ended December 31, 2022. The interim results for the period ended March 31, 2023, are not necessarily indicative of the results for the full fiscal year. The unaudited interim condensed consolidated financial statements are presented in United States dollars, which is the Company’s functional currency. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes for items such as mineral reserves, useful lives and depreciation methods, potential impairment of long-lived assets, deferred income taxes, settlement pricing of commodity sales, fair value of stock based compensation, accrued liabilities, estimation of asset retirement obligations and reclamation liabilities, convertible debentures, and warrants. Estimates are based on historical experience and various other assumptions that the Company believes to be reasonable. Actual results could differ from those estimates. |
Accounts receivable and prepaid
Accounts receivable and prepaid expenses | 3 Months Ended |
Mar. 31, 2023 | |
Credit Loss [Abstract] | |
Accounts receivable and prepaid expenses | 3. Accounts receivable and prepaid expenses Accounts receivable and prepaid expenses consists of the following: Schedule of Accounts receivable and prepaid expenses March 31, December 31, 2023 2022 Prepaid expenses and deposits $ 485,491 $ 386,218 Environment protection agency overpayment (note 6) 30,000 170,729 Total $ 515,491 $ 556,947 |
Equipment, Right-of-Use asset a
Equipment, Right-of-Use asset and Process Plant | 3 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Equipment, Right-of-Use asset and Process Plant | 4. Equipment, Right-of-Use asset and Process Plant Equipment consists of the following: Schedule of Equipment March 31, December 31, 2023 2022 Equipment $ 980,575 $ 920,571 Equipment, gross 980,575 920,571 Less accumulated depreciation (414,059 ) (369,367 ) Equipment, net $ 566,516 $ 551,204 The total depreciation expense relating to equipment during the three months ended March 31, 2023 and March 31, 2022 was $ 44,692 54,015 Process Plant Purchase from Teck Resources Limited On May 13, 2022, the Company completed purchase of a comprehensive package of equipment and parts inventory from Teck Resources Limited (“Teck”). The package comprises substantially all processing equipment of value located at the Pend Oreille mine site, including complete crushing, grinding and flotation circuits suitable for a planned ~1,500 ton-per-day operation at the Bunker Hill site, and total inventory of nearly 10,000 components and parts for mill, assay lab, conveyer, field instruments, and electrical spares. The purchase of the mill has been valued at: - Cash consideration given, comprised of $ 500,000 231,000 731,000 - Value of common shares issued on May 13, 2022 at the market price of that day, a value of $ 1,970,264 - Fair value of the warrants issued together with the inputs, as determined by a binomial model, resulted in a fair value of $ 1,273,032 - As a result, the total value of the mill at the time of purchase was determined to be $ 3,974,296 341,004 The process plant was purchased in an assembled state in the seller’s location, and included major processing systems, significant components, and a large inventory of spare parts. The Company has disassembled and transported it to the Bunker Hill site, and will be reassembling it as an integral part of the Company’s future operations. The Company determined that the transaction should be accounted for as an asset acquisition, with the process plant representing a single asset, with the exception of the inventory of spare parts, which has been separated out and appears on the balance sheets as a non-current asset in accordance with a preliminary purchase price allocation. As the plant is demobilized, transported and reassembled, installation and other costs associated with these activities will be captured and capitalized as components of the asset. Process plant consists of the following: Schedule of Plant Asset Consists March 31, December 31, 2023 2022 Plant purchase price less inventory $ 3,633,292 $ 3,633,292 Demobilization 2,204,539 2,201,414 Site preparation costs 3,256,110 2,296,266 Pend Oreille plant asset, net $ 9,093,941 $ 8,130,972 Ball Mill upgrade On August 30, 2022, the Company entered into an agreement to purchase a ball mill from D’Angelo International LLC for $ 675,000 $ 100,000 $ 100,000 As of March 31, 2023, the Company had not made the final payment of $ 475,000 Right-of-use asset consists of the following: Schedule of Right-of-use Asset March 31, December 31, 2023 2022 Loader lease 114,920 - Loader accumulated depreciation (6,384 ) - Right-of-use asset, net $ 108,536 $ - The total depreciation expense during the three months ended March 31, 2023 and March 31, 2022 was $ 6,384 24,442 |
Bunker Hill Mine and Mining Int
Bunker Hill Mine and Mining Interests | 3 Months Ended |
Mar. 31, 2023 | |
Extractive Industries [Abstract] | |
Bunker Hill Mine and Mining Interests | 5. Bunker Hill Mine and Mining Interests Bunker Hill Mine Complex The Company purchased the Bunker Hill Mine (the “Mine”) in January 2022, as described below. Prior to purchasing the Mine, the Company had entered into a series of agreements with Placer Mining Corporation (“Placer Mining”), the prior owner, for the lease and option to purchase the Mine. The first of these agreements was announced on August 28, 2017, with subsequent amendments and/or extensions announced on November 1, 2019, July 7, 2020, and November 20, 2020. Under the terms of the November 20, 2020 amended agreement (the “Amended Agreement”), a purchase price of $ 7,700,000 5,700,000 300,000 2,000,000 2,000,000 3,400,000 2,000,000 The Amended Agreement also required payments pursuant to an agreement with the EPA whereby for so long as the Company leases, owns and/or occupies the Mine, the Company would make payments to the EPA on behalf of Placer Mining in satisfaction of the EPA’s claim for historical water treatment cost recovery in accordance with the Settlement Agreement reached with the EPA in 2018. Immediately prior to the purchase of the Mine, the Company’s liability to EPA in this regard totaled $ 11,000,000 The Company completed the purchase of the Mine on January 7, 2022. The terms of the purchase price were modified to $ 5,400,000 3,400,000 2,000,000 8,000,000 The $ 5,400,000 7,700,000 2,000,000 300,000 The purchase of the mine has been valued on January 7, 2022: - Contract purchase price of $ 7,700,000 300,000 - Net present value of water treatment cost recovery liability assumed of $ 6,402,425 - Capitalized legal and closing costs of $ 444,785 - As a result, the total value of the mine at the time of purchase was determined to be $ 14,247,210 The carrying cost of the Mine is comprised of the following: Schedule of Mining Interests March 31, December 31, 2023 2022 Bunker Hill Mine and Mining interests $ 14,247,210 $ 14,247,210 Capitalized development 1,517,526 1,447,435 Pend Oreille plant asset, net $ 15,764,736 $ 15,694,645 Management has determined the purchase to be an acquisition of a single asset. Land purchase and leases On March 3, 2022, the Company purchased a 225-acre surface land parcel for $ 202,000 During the three months ended March 31, 2023, the Company entered into a lease agreement with C & E Tree Farm LLC for the lease of a land parcel overlaying a portion of the Company’s existing mineral claims package. The Company is committed to making monthly payments of $ 10,000 3,129,500 |
Environmental Protection Agency
Environmental Protection Agency and Water Treatment Liabilities (“EPA”) | 3 Months Ended |
Mar. 31, 2023 | |
Environmental Remediation Obligations [Abstract] | |
Environmental Protection Agency and Water Treatment Liabilities (“EPA”) | 6. Environmental Protection Agency and Water Treatment Liabilities (“EPA”) Historical Cost Recovery Payables - EPA As a part of the lease of the Mine, the Company was required to make payments pursuant to an agreement with the EPA whereby for so long as the Company leases, owns and/or occupies the Mine, the Company was required to make payments to the EPA on behalf of Placer Mining in satisfaction of the EPA’s claim for cost recovery related to historical treatment costs paid by the EPA from 1995 to 2017. These payments, if all are made, will total $ 20,000,000 1,000,000 2,000,000 3,000,000 2,000,000 11,000,000 8,000,000 Through 2021, the Company engaged in discussions with the EPA to reschedule these payments in ways that enable the sustainable operation of the Mine as a viable long-term business. Effective December 19, 2021, the Company entered into an amended Settlement Agreement between the Company, Idaho Department of Environmental Quality, US Department of Justice, and the EPA (the “Amended Settlement”). Upon the effectivity of the Amended Settlement, the Company would become fully compliant with its payment obligations to these parties. The Amended Settlement modified the payment schedule and payment terms for recovery of the aforementioned historical environmental response costs. Pursuant to the terms of the Amended Settlement, upon purchase of the Bunker Hill Mine and the satisfaction of financial assurance commitments (as described below), the $ 19,000,000 of cost recovery liabilities Schedule of Amended Settlement Environmental Protection Agency Agreement Date Amount Within 30 days of Settlement Agreement $ 2,000,000 November 1, 2024 $ 3,000,000 November 1, 2025 $ 3,000,000 November 1, 2026 $ 3,000,000 November 1, 2027 $ 3,000,000 November 1, 2028 $ 3,000,000 November 1, 2029 $ 2,000,000 plus accrued interest In addition to the changes in payment terms and schedule, the Amended Settlement included a commitment by the Company to secure $ 17,000,000 of financial assurance in the form of performance bonds or letters of credit deemed acceptable to the EPA within 180 days from the effective date of the Amended Settlement. Once put in place, the financial assurance can be drawn on by the EPA in the event of non-performance by the Company of its payment obligations under the Amended Settlement (the “Financial Assurance”). The amount of the bonds will decrease over time as individual payments are made. The Company completed the purchase of the Mine (see note 5) and made the initial $ 2,000,000 Concurrent with the purchase of the Mine, the Company assumed the balance of the EPA liability totaling $ 17,000,000 8,000,000 6,402,425 3,000,000 5,000,000 3,402,425). During the year ended 2022, the financial assurance was put into place, enabling the restructuring of the payment stream under the Amendment Settlement with the entire $ 17,000,000 9,999,000 5,000,000 2,001,000 4,475,000 20,000 6,476,000 6,476,000 . The Company recorded discount amortization expense of $ 374,306 8,315,772 156,343 Water Treatment Charges – IDEQ Separate to the cost recovery liabilities outlined above, the Company is responsible for the payment of ongoing water treatment charges. Water treatment charges incurred through December 31, 2021 were payable to the EPA, and charges thereafter are payable to the Idaho Department of Environmental Quality (“IDEQ”) given a handover of responsibilities for the Central Treatment Plant from the EPA to the IDEQ as of that date. The Company currently makes monthly payments of $ 100,000 100,000 30,000 170,729 |
Promissory Notes Payable and Co
Promissory Notes Payable and Convertible Debentures | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Promissory Notes Payable and Convertible Debentures | 7. Promissory Notes Payable and Convertible Debentures Promissory Notes On September 22, 2021, the Company issued a non-convertible promissory note in the amount of $ 2,500,000 bearing interest of 15 % per annum and payable at maturity. The Company purchased a land parcel for approximately $ 202,000 on March 3, 2022, which may be used as security for the promissory note. June 15, 2023 1,000,000 At March 31, 2023, the Company owes $ 1,500,000 in promissory notes payable, which is included in current liabilities on the condensed interim consolidated balance sheets. Interest expense for the three months ended March 31, 2023 and 2022 was $ 55,479 and $ 92,466 , respectively. At March 31, 2023 financing costs of $ 439,521 ($ 384,041 15% On February 21, 2023, the Company issued a non-convertible promissory note to a related party in the amount of $ 120,000 120,000 18,000 Project Finance Package with Sprott Private Resource Streaming & Royalty Corp. On December 20, 2021, the Company executed a non-binding term sheet outlining a $ 50,000,000 The non-binding term sheet with SRSR outlined a $ 50,000,000 8,000,000 5,000,000 37,000,000 6,000,000 51,000,000 On June 17, 2022, the Company consummated a new $ 15,000,000 66,000,000 $8,000,000 Royalty Convertible Debenture The Company closed the $ 8,000,000 9.0 1.85 Concurrent with the funding of the CD2 in June 2022, the Company and SRSR agreed to a number of amendments to the terms of the RCD, including an amendment of the maturity date from July 7, 2023 to March 31, 2025 8,000,000 $6,000,000 Convertible Debenture (CD1) The Company closed the $ 6,000,000 5,000,000 7.5 0.30 Concurrent with the funding of the CD2 in June 2022, the Company and SRSR agreed to a number of amendments to the terms of the CD1, including that the maturity date would be amended from July 7, 2023 to March 31, 2025 $15,000,000 Series 2 Convertible Debenture (CD2) The Company closed the $ 15,000,000 10.5 2,000,000 9,000,000 In light of the Series 2 Convertible Debenture financing, the previously permitted additional senior secured indebtedness of up to $ 15 The Company determined that in accordance with ASC 815 Derivatives and Hedging, each debenture will be valued and carried as a single instrument, with the periodic changes to fair value accounted through earnings, profit and loss. Consistent with the approach above, the following table summarizes the key valuation inputs as at applicable valuation dates: Schedule of Key Valuation Inputs Reference (2)(4) (5) Valuation Maturity Contractual Stock price (US$) Expected equity volatility Credit spread Risk-free rate Risk- CD1 note(3) (2)(4)(5)(3) 12-31-22 03-31-25 7.50 % 0.125 120 % 7.08 % 4.32 % 17.85 % RCD note (2)(4)(5) 12-31-22 03-31-25 9.00 % 0.125 120 % 7.08 % 4.32 % 17.85 % CD2 note(3) (2)(4)(5)(3) 12-31-22 03-31-25 10.50 % 0.125 120 % 7.08 % 4.32 % 19.76 % CD1 note(3) (2)(4)(5)(3) 03-31-23 03-31-25 7.50 % 0.082 115 % 11.22 % 4.06 % 21.33 % RCD note (2)(4)(5) 03-31-23 03-31-25 9.00 % 0.082 115 % 11.22 % 4.06 % 21.33 % CD2 note(3) (2)(4)(5)(3) 03-31-23 03-31-25 10.50 % 0.082 115 % 11.22 % 4.06 % 23.20 % (1) The CD1 carried a Discount for Lack of Marketability (“DLOM”) of 5.0 10.0 (2) CD1 and RCD carry an instrument-specific spread of 7.23 9.32 (3) The conversion price of the CD1 is $ 0.219 0.212 (4) A project risk rate of 13.0 (5) The valuation of the RCD is driven by the aggregation of (i) the present value of future potential cash flow to the royalty holder, in the event that the RCD is converted to a royalty, utilizing an estimate of future metal sales and Monte Carlo simulations of future metal prices, and (ii) the computation of the present value assuming no conversion to the 1.85 1.85% 89 11.38 4.85 22.18 The resulting fair values of the CD1, RCD, and CD2 at March 31, 2023, and as of December 31, 2022, were as follows: Schedule of Fair Value Derivative Liability Instrument Description March 31, 2023 December 31, 2022 CD1 $ 5,093,130 $ 5,537,360 RCD 9,119,412 10,285,777 CD2 13,117,407 14,063,525 Total $ 27,389,949 $ 29,886,662 The total gain on fair value of debentures recognized during the three months ended March 31, 2023 and March 31, 2022, was $ 1,689,701 nil 807,012 nil 676,849 240,164 nil 691,890 250,086 nil The Company performs quarterly testing of the covenants in the RCD, CD1 and CD2, and was in compliance with all such covenants as of March 31, 2023. $5,000,000 Bridge Loan On December 6, 2022, the Company closed a new $ 5,000,000 The Bridge Loan bears interest at a rate of 10.5% per annum and matures at the earlier of (i) the advance of the Stream, or (ii) June 30, 2024 5 178,383 nil 131,250 53,985 $37,000,000 Stream A minimum of $ 27,000,000 37,000,000 If the Company draws the maximum funding of $ 37,000,000 |
Lease liability
Lease liability | 3 Months Ended |
Mar. 31, 2023 | |
Lease Liability | |
Lease liability | 8. Lease liability The Company has operating leases for a loader. Below is a summary of the Company’s lease liability as of March 31, 2023: Schedule of Operating Lease Liability Leases Balance, December 31, 2022 $ - Addition 114,920 Interest expense 3,611 Lease payments (60,000 ) Balance, March 31, 2023 58,531 |
Capital Stock, Warrants and Sto
Capital Stock, Warrants and Stock Options | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Capital Stock, Warrants and Stock Options | 9. Capital Stock, Warrants and Stock Options Authorized The total authorized capital is as follows: ● 1,500,000,000 0.000001 ● 10,000,000 0.000001 Issued and outstanding In March 2023, the Company amended the exercise price and expiry date of 10,416,667 0.37 0.37 0.11 March 31, 2023 214,714 10,416,667 0.11 1,145,834 400,152 120 0.11 3.42 4.06 0 In March 2023, the Company closed a brokered private placement of special warrants of the Company (the “March 2023 Offering”), issuing 51,633,727 0.12 4,536,020 6,196,047 3,661,822 874,198 In connection with the Offering, each March 2023 Special Warrant is automatically exercisable (without payment of any further consideration and subject to customary anti-dilution adjustments) into one unit (“March 2023 Unit”) of the Company on the earlier date of: (i) the third business day following the date upon which the Company has obtained notification that a resale registration statement of the Company to be filed with the U.S. SEC (the “SEC”) registering the resale of the Underlying Shares (as defined below) issuable upon exercise of the March 2023 Special Warrants and the securities issuable thereunder, has been declared effective by the SEC; and (ii) September 27, 2023 (collectively, the “Automatic Exercise Date”), subject to compliance with U.S. securities laws. Each March 2023 Unit consists of one share of Common Share of the Company (each, a “Unit Share”) and one common stock purchase warrant of the Company (each, a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one Common Share of the Company (a “Warrant Share”, and together with the Unit Shares, the “Underlying Shares”) at an exercise price of C$0.15 per Warrant Share until March 27, 2026, subject to adjustment in certain events. In the event that the Registration Statement has not been declared effective by the SEC on or before 5:00 p.m. (EST) on July 27, 2023, each unexercised Special Warrant will be deemed to be exercised on the Automatic Exercise Date into one penalty unit of the Company (each, a “Penalty Unit”), with each Penalty Unit being comprised of 1.2 Unit Shares and 1.2 Warrants. In connection with the March 2023 Offering, the Company incurred share issuance costs of $ 585,765 2,070,258 0.12 For each financing, the Company has accounted for the warrants in accordance with ASC Topic 815. The warrants are considered derivative instruments as they were issued in a currency other than the Company’s functional currency of the U.S. dollar. The estimated fair value of warrants accounted for as liabilities was determined on the date of issue and marks to market at each financial reporting period. The change in fair value of the warrant is recorded in the condensed interim consolidated statements of income (loss) and comprehensive income (loss) as a gain or loss and is estimated using the Binomial model. The fair value of the warrant liabilities related to the various tranches of warrants issued during the period were estimated using the Binomial model to determine the fair value using the following assumptions as at March 31, 2023 and December 31, 2022: Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities April 2022 special warrants issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 1,174,663 $ 2,406,104 Change in derivative liability $ (1,231,441 ) April 2022 non-brokered issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 45,673 $ 93,553 Change in derivative liability $ (47,880 ) June 2022 issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 3.72 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 35,101 $ 77,429 Change in derivative liability $ (42,328 ) February 2021 issuance March 31, 2023 December 31, 2022 Expected life 1,046 1,136 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.72 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 682,573 $ 1,335,990 Change in derivative liability $ (653,416 ) August 2020 issuance March 31, 2023 December 31, 2022 Expected life 153 243 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 1 $ 903,697 Change in derivative liability $ (903,696 ) June 2019 issuance March 31, 2023 December 31, 2022 Expected life 1,006 1,096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.82 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 338,608 $ 725,737 Change in derivative liability $ (387,129 ) August 2019 issuance March 31, 2023 December 31, 2022 Expected life 1,006 1,096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.82 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 520,399 $ 1,115,369 Change in derivative liability $ (594,970 ) Outstanding warrants at March 31, 2023 and March 31, 2022 were as follows: Schedule of Warrant Activity Weighted Weighted average average Number of exercise price grant date warrants (C$) value ($) Balance, December 31, 2021 111,412,712 $ 0.54 $ 0.18 Expired (239,284 ) 0.70 0.21 Balance, March 31, 2022 111,173,428 0.52 0.18 Balance, December 31, 2022 162,129,064 $ 0.49 $ 0.17 Exercised (10,416,667 ) 0.11 0.12 Balance, March 31, 2023 151,712,397 $ 0.50 $ 0.17 During the three months ended March 31, 2023, 10,416,667 During the three months ended March 31, 2022, 239,284 At March 31, 2023, the following warrants were outstanding: Schedule of Warrants Outstanding Exercise Price Exercise Number of Number of warrants Expiry date price (C$) warrants exercisable August 31, 2023 0.50 58,284,148 58,284,148 December 31, 2025 0.59 32,895,200 32,895,200 February 9, 2026 0.60 17,112,500 17,112,500 February 16, 2026 0.60 2,881,580 2,881,580 April 1, 2025 0.37 40,538,969 40,538,969 151,712,397 151,712,379 March 2023 Special Warrants The Company closed a private placement of the March 2023 Special Warrants on March 27, 2023, which will convert to Common Shares and common stock purchase warrants in the third quarter of 2023 as described above. As a result, as of March 31, 2023, the Common Shares and common stock purchase warrants had not been issued. In accordance with its accounting policies, the Company has determined the fair value of the March 2023 Special Warrants as of March 31, 2023, through the valuation of the underlying Common Shares and common stock purchase warrants. As of March 31, 2023, there were 51,633,727 Schedule of Estimated Fair Value of Special Warrant Liabilities March 2023 special warrants issuance March 31, 2023 Grant Date Expected life 1,092 1096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.40 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.11 Fair value $ 2,815,761 $ 2,781,323 Change in derivative liability $ 34,438 $ - Compensation options At March 31, 2023, the following broker options were outstanding: Schedule of Compensation Options Weighted Number of average broker exercise price options (C$) Balance, December 31, 2021 3,590,907 0.35 Issued – April 2022 Compensation Options 1,879,892 0.30 Balance, December 31, 2022 5,470,799 $ 0.34 Issued – March 2023 Compensation Options 2,070,258 0.12 Balance, March 31, 2023 7,541,057 0.28 (i) The grant date fair value of the March 2023 Compensation Options were estimated at $ 111,971 Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options Grant Date Risk free interest rate Dividend yield Volatility Stock price Weighted average life March 2023 3.4 % 0 % 120 % C$ 0.11 3 Schedule of Broker Exercise Prices Exercise Number of Grant date Fair value Expiry date price (C$) broker options ($) August 31, 2023 (i) $ 0.35 3,239,907 $ 521,993 February 16, 2024 (ii) $ 0.40 351,000 $ 68,078 April 1, 2024 (iii) $ 0.30 1,879,892 $ 264,435 March 27, 2026 (v) $ 0.12 2,070,057 $ 111,971 7,541,057 $ 966,477 i) Exercisable into one August 2020 Unit ii) Exercisable into one February 2021 Unit iii) Exercisable into one April 2022 Unit iv) Exercisable into one March 2023 Unit Stock options The following table summarizes the stock option activity during the three months ended March 31, 2023: Schedule of Stock Options Weighted average Number of exercise price stock options (C$) Balance, December 31, 2022 9,053,136 $ 0.58 Granted 700,000 $ 0.15 Expired, May 1, 2022 (47,000 ) $ 10.00 Forfeited (150,000 ) $ 0.15 Expired, December 31, 2022 (235,500 ) $ 0.50 Balance, December 31, 2022 9,320,636 $ 0.51 Balance, March 31, 2023 9,320,636 $ 0.51 The following table reflects the actual stock options issued and outstanding as of March 31, 2023: Schedule of Actual Stock Options Issued and Outstanding Number of remaining Number of options Exercise contractual options vested Grant date price (C$) life (years) outstanding (exercisable) fair value ($) 0.60 0.50 200,000 200,000 52,909 0.60 1.57 1,575,000 1,575,000 435,069 0.55 2.06 5,957,659 2,978,830 1,536,764 0.335 2.89 1,037,977 1,037,977 204,213 0.15 0.65 150,000 150,000 14,465 0.15 4.65 400,000 200,000 37,387 9,320,636 6,141,807 $ 2,280,807 |
Restricted Share Units
Restricted Share Units | 3 Months Ended |
Mar. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Restricted Share Units | 10. Restricted Share Units Effective March 25, 2020, the Board of Directors approved a Restricted Share Unit (“RSU”) Plan to grant RSUs to its officers, directors, key employees and consultants. The following table summarizes the RSU activity during the three months ended March 31, 2023: Schedule of Restricted Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2021 576,000 $ 0.62 Granted 6,620,641 0.17 Vested (2,373,900 ) 0.18 Unvested as at December 31, 2022 4,822,741 $ 0.22 - - Unvested as at March 31, 2023 (ii) 4,822,741 $ 0.22 (i) On January 10, 2022, the Company granted 500,000 122,249 (ii) Includes 1,507,580 |
Deferred Share Units
Deferred Share Units | 3 Months Ended |
Mar. 31, 2023 | |
Deferred Share Units | |
Deferred Share Units | 11. Deferred Share Units Effective April 21, 2020, the Board of Directors approved a Deferred Share Unit (“DSU”) Plan to grant DSUs to its directors. The DSU Plan permits the eligible directors to defer receipt of all or a portion of their retainer or compensation until termination of their services and to receive such fees in the form of cash at that time. Upon vesting of the DSUs or termination of service as a director, the director will be able to redeem DSUs based upon the then market price of the Company’s Common Share on the date of redemption in exchange for cash. The following table summarizes the DSU activity during the three months ended March 31, 2023 and 2022: Schedule of Deferred Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2021 5,625,000 $ 1.03 Vested (ii) (625,000 ) 1.03 Unvested as at March 31, 2022 5,000,000 $ 1.03 Unvested as at December 31 2022 and March 31, 2023 2,710,000 $ 1.00 (i) On March 31, 2022, the Board approved the early vesting of 625,000 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies As stipulated in the agreement with the EPA and as described in Note 6, the Company is required to make two types of payments to the EPA and IDEQ, one for historical water treatment cost-recovery to the EPA, and the other for ongoing water treatment. Water treatment costs incurred through December 2021 are payable to the EPA, and water treatment costs incurred thereafter are payable to the IDEQ. The IDEQ (as done formerly by the EPA) invoices the Company on an annual basis for the actual water treatment costs, which may exceed the recognized estimated costs significantly. When the Company receives the water treatment invoices, it records any liability for actual costs over and above any estimates made and adjusts future estimates as required based on these actual invoices received. The Company is required to pay for the actual costs regardless of the periodic required estimated accruals and payments made each year. On July 28, 2021, a lawsuit was filed in the US District Court for the District of Idaho brought by Crescent Mining, LLC (“Crescent”). The named defendants include Placer Mining, Robert Hopper Jr., and the Company. The lawsuit alleges that Placer Mining and Robert Hopper Jr. intentionally flooded the Crescent Mine during the period from 1991 and 1994, and that the Company is jointly and severally liable with the other defendants for unspecified past and future costs associated with the presence of AMD in the Crescent Mine. The plaintiff has requested unspecified damages. On September 20, 2021, the Company filed a motion to dismiss Crescent’s claims against it, contending that such claims are facially deficient. On March 2, 2022, Chief US District Court Judge, David C. Nye granted in part and denied in part the Company’s motion to dismiss. The court granted the Company’s motion to dismiss Crescent’s Cost Recovery claim under CERCLA Section 107(a), Declaratory Judgment, Tortious Interference, Trespass, Nuisance and Negligence claims. These claims were dismissed without prejudice. The court denied the motion to dismiss filed by Placer Mining Corp. for Crescent’s trespass, nuisance and negligence claims. Crescent later filed an amended complaint on April 1, 2022. Placer Mining Corp. and Bunker Hill Mining Corp are named as co-defendants. Bunker Hill responded to the amended filing, refuting and denying all allegations made in the complaint except those that are assertions of fact as a matter of public record. The Company believes Crescent’s lawsuit is without merit and intends to vigorously defend itself, as well as Placer Mining Corp. pursuant to the Company’s indemnification of Placer Mining Corp in the Sale and Purchase agreement executed between the companies for the Mine on December 15, 2021. During the three months ended March 31, 2023, the Company entered into a lease agreement with C & E Tree Farm LLC for the lease of a land parcel overlaying a portion of the Company’s existing mineral claims package. The Company is committed to making monthly payments of $ 10,000 |
Related party transactions
Related party transactions | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related party transactions | 13. Related party transactions The Company’s key management personnel have the authority and responsibility for planning, directing and controlling the activities of the Company and consists of the Company’s executive management team and management directors. Schedule of Related Party Transactions Three Months Three Months Consulting Fees and Salaries $ 215,448 $ 1,097,610 At March 31, 2023 and March 31, 2022, $ 248,533 825,776 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | 14. Subsequent Events None. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, shareholders’ deficiency, or cash flows. It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, which contains the annual audited consolidated financial statements and notes thereto, together with the Management’s Discussion and Analysis, for the year ended December 31, 2022. The interim results for the period ended March 31, 2023, are not necessarily indicative of the results for the full fiscal year. The unaudited interim condensed consolidated financial statements are presented in United States dollars, which is the Company’s functional currency. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes for items such as mineral reserves, useful lives and depreciation methods, potential impairment of long-lived assets, deferred income taxes, settlement pricing of commodity sales, fair value of stock based compensation, accrued liabilities, estimation of asset retirement obligations and reclamation liabilities, convertible debentures, and warrants. Estimates are based on historical experience and various other assumptions that the Company believes to be reasonable. Actual results could differ from those estimates. |
Accounts receivable and prepa_2
Accounts receivable and prepaid expenses (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Credit Loss [Abstract] | |
Schedule of Accounts receivable and prepaid expenses | Accounts receivable and prepaid expenses consists of the following: Schedule of Accounts receivable and prepaid expenses March 31, December 31, 2023 2022 Prepaid expenses and deposits $ 485,491 $ 386,218 Environment protection agency overpayment (note 6) 30,000 170,729 Total $ 515,491 $ 556,947 |
Equipment, Right-of-Use asset_2
Equipment, Right-of-Use asset and Process Plant (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Equipment | Equipment consists of the following: Schedule of Equipment March 31, December 31, 2023 2022 Equipment $ 980,575 $ 920,571 Equipment, gross 980,575 920,571 Less accumulated depreciation (414,059 ) (369,367 ) Equipment, net $ 566,516 $ 551,204 |
Schedule of Plant Asset Consists | Process plant consists of the following: Schedule of Plant Asset Consists March 31, December 31, 2023 2022 Plant purchase price less inventory $ 3,633,292 $ 3,633,292 Demobilization 2,204,539 2,201,414 Site preparation costs 3,256,110 2,296,266 Pend Oreille plant asset, net $ 9,093,941 $ 8,130,972 |
Schedule of Right-of-use Asset | Right-of-use asset consists of the following: Schedule of Right-of-use Asset March 31, December 31, 2023 2022 Loader lease 114,920 - Loader accumulated depreciation (6,384 ) - Right-of-use asset, net $ 108,536 $ - |
Bunker Hill Mine and Mining I_2
Bunker Hill Mine and Mining Interests (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Extractive Industries [Abstract] | |
Schedule of Mining Interests | The carrying cost of the Mine is comprised of the following: Schedule of Mining Interests March 31, December 31, 2023 2022 Bunker Hill Mine and Mining interests $ 14,247,210 $ 14,247,210 Capitalized development 1,517,526 1,447,435 Pend Oreille plant asset, net $ 15,764,736 $ 15,694,645 |
Environmental Protection Agen_2
Environmental Protection Agency and Water Treatment Liabilities (“EPA”) (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Environmental Remediation Obligations [Abstract] | |
Schedule of Amended Settlement Environmental Protection Agency Agreement | Schedule of Amended Settlement Environmental Protection Agency Agreement Date Amount Within 30 days of Settlement Agreement $ 2,000,000 November 1, 2024 $ 3,000,000 November 1, 2025 $ 3,000,000 November 1, 2026 $ 3,000,000 November 1, 2027 $ 3,000,000 November 1, 2028 $ 3,000,000 November 1, 2029 $ 2,000,000 plus accrued interest |
Promissory Notes Payable and _2
Promissory Notes Payable and Convertible Debentures (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Key Valuation Inputs | Consistent with the approach above, the following table summarizes the key valuation inputs as at applicable valuation dates: Schedule of Key Valuation Inputs Reference (2)(4) (5) Valuation Maturity Contractual Stock price (US$) Expected equity volatility Credit spread Risk-free rate Risk- CD1 note(3) (2)(4)(5)(3) 12-31-22 03-31-25 7.50 % 0.125 120 % 7.08 % 4.32 % 17.85 % RCD note (2)(4)(5) 12-31-22 03-31-25 9.00 % 0.125 120 % 7.08 % 4.32 % 17.85 % CD2 note(3) (2)(4)(5)(3) 12-31-22 03-31-25 10.50 % 0.125 120 % 7.08 % 4.32 % 19.76 % CD1 note(3) (2)(4)(5)(3) 03-31-23 03-31-25 7.50 % 0.082 115 % 11.22 % 4.06 % 21.33 % RCD note (2)(4)(5) 03-31-23 03-31-25 9.00 % 0.082 115 % 11.22 % 4.06 % 21.33 % CD2 note(3) (2)(4)(5)(3) 03-31-23 03-31-25 10.50 % 0.082 115 % 11.22 % 4.06 % 23.20 % (1) The CD1 carried a Discount for Lack of Marketability (“DLOM”) of 5.0 10.0 (2) CD1 and RCD carry an instrument-specific spread of 7.23 9.32 (3) The conversion price of the CD1 is $ 0.219 0.212 (4) A project risk rate of 13.0 (5) The valuation of the RCD is driven by the aggregation of (i) the present value of future potential cash flow to the royalty holder, in the event that the RCD is converted to a royalty, utilizing an estimate of future metal sales and Monte Carlo simulations of future metal prices, and (ii) the computation of the present value assuming no conversion to the 1.85 1.85% 89 11.38 4.85 22.18 |
Schedule of Fair Value Derivative Liability | The resulting fair values of the CD1, RCD, and CD2 at March 31, 2023, and as of December 31, 2022, were as follows: Schedule of Fair Value Derivative Liability Instrument Description March 31, 2023 December 31, 2022 CD1 $ 5,093,130 $ 5,537,360 RCD 9,119,412 10,285,777 CD2 13,117,407 14,063,525 Total $ 27,389,949 $ 29,886,662 |
Lease liability (Tables)
Lease liability (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Lease Liability | |
Schedule of Operating Lease Liability | The Company has operating leases for a loader. Below is a summary of the Company’s lease liability as of March 31, 2023: Schedule of Operating Lease Liability Leases Balance, December 31, 2022 $ - Addition 114,920 Interest expense 3,611 Lease payments (60,000 ) Balance, March 31, 2023 58,531 |
Capital Stock, Warrants and S_2
Capital Stock, Warrants and Stock Options (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities | The fair value of the warrant liabilities related to the various tranches of warrants issued during the period were estimated using the Binomial model to determine the fair value using the following assumptions as at March 31, 2023 and December 31, 2022: Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities April 2022 special warrants issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 1,174,663 $ 2,406,104 Change in derivative liability $ (1,231,441 ) April 2022 non-brokered issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 45,673 $ 93,553 Change in derivative liability $ (47,880 ) June 2022 issuance March 31, 2023 December 31, 2022 Expected life 732 822 Volatility 120 % 120 % Risk free interest rate 3.74 % 3.72 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 35,101 $ 77,429 Change in derivative liability $ (42,328 ) February 2021 issuance March 31, 2023 December 31, 2022 Expected life 1,046 1,136 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.72 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 682,573 $ 1,335,990 Change in derivative liability $ (653,416 ) August 2020 issuance March 31, 2023 December 31, 2022 Expected life 153 243 Volatility 120 % 120 % Risk free interest rate 3.74 % 4.06 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 1 $ 903,697 Change in derivative liability $ (903,696 ) June 2019 issuance March 31, 2023 December 31, 2022 Expected life 1,006 1,096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.82 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 338,608 $ 725,737 Change in derivative liability $ (387,129 ) August 2019 issuance March 31, 2023 December 31, 2022 Expected life 1,006 1,096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.82 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.17 Fair value $ 520,399 $ 1,115,369 Change in derivative liability $ (594,970 ) |
Schedule of Warrant Activity | Outstanding warrants at March 31, 2023 and March 31, 2022 were as follows: Schedule of Warrant Activity Weighted Weighted average average Number of exercise price grant date warrants (C$) value ($) Balance, December 31, 2021 111,412,712 $ 0.54 $ 0.18 Expired (239,284 ) 0.70 0.21 Balance, March 31, 2022 111,173,428 0.52 0.18 Balance, December 31, 2022 162,129,064 $ 0.49 $ 0.17 Exercised (10,416,667 ) 0.11 0.12 Balance, March 31, 2023 151,712,397 $ 0.50 $ 0.17 |
Schedule of Warrants Outstanding Exercise Price | At March 31, 2023, the following warrants were outstanding: Schedule of Warrants Outstanding Exercise Price Exercise Number of Number of warrants Expiry date price (C$) warrants exercisable August 31, 2023 0.50 58,284,148 58,284,148 December 31, 2025 0.59 32,895,200 32,895,200 February 9, 2026 0.60 17,112,500 17,112,500 February 16, 2026 0.60 2,881,580 2,881,580 April 1, 2025 0.37 40,538,969 40,538,969 151,712,397 151,712,379 |
Schedule of Estimated Fair Value of Special Warrant Liabilities | Schedule of Estimated Fair Value of Special Warrant Liabilities March 2023 special warrants issuance March 31, 2023 Grant Date Expected life 1,092 1096 Volatility 120 % 120 % Risk free interest rate 3.51 % 3.40 % Dividend yield 0 % 0 % Share price (C$) $ 0.105 $ 0.11 Fair value $ 2,815,761 $ 2,781,323 Change in derivative liability $ 34,438 $ - |
Schedule of Compensation Options | At March 31, 2023, the following broker options were outstanding: Schedule of Compensation Options Weighted Number of average broker exercise price options (C$) Balance, December 31, 2021 3,590,907 0.35 Issued – April 2022 Compensation Options 1,879,892 0.30 Balance, December 31, 2022 5,470,799 $ 0.34 Issued – March 2023 Compensation Options 2,070,258 0.12 Balance, March 31, 2023 7,541,057 0.28 |
Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options | Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options Grant Date Risk free interest rate Dividend yield Volatility Stock price Weighted average life March 2023 3.4 % 0 % 120 % C$ 0.11 3 |
Schedule of Broker Exercise Prices | Schedule of Broker Exercise Prices Exercise Number of Grant date Fair value Expiry date price (C$) broker options ($) August 31, 2023 (i) $ 0.35 3,239,907 $ 521,993 February 16, 2024 (ii) $ 0.40 351,000 $ 68,078 April 1, 2024 (iii) $ 0.30 1,879,892 $ 264,435 March 27, 2026 (v) $ 0.12 2,070,057 $ 111,971 7,541,057 $ 966,477 i) Exercisable into one August 2020 Unit ii) Exercisable into one February 2021 Unit iii) Exercisable into one April 2022 Unit iv) Exercisable into one March 2023 Unit |
Schedule of Stock Options | The following table summarizes the stock option activity during the three months ended March 31, 2023: Schedule of Stock Options Weighted average Number of exercise price stock options (C$) Balance, December 31, 2022 9,053,136 $ 0.58 Granted 700,000 $ 0.15 Expired, May 1, 2022 (47,000 ) $ 10.00 Forfeited (150,000 ) $ 0.15 Expired, December 31, 2022 (235,500 ) $ 0.50 Balance, December 31, 2022 9,320,636 $ 0.51 Balance, March 31, 2023 9,320,636 $ 0.51 |
Schedule of Actual Stock Options Issued and Outstanding | The following table reflects the actual stock options issued and outstanding as of March 31, 2023: Schedule of Actual Stock Options Issued and Outstanding Number of remaining Number of options Exercise contractual options vested Grant date price (C$) life (years) outstanding (exercisable) fair value ($) 0.60 0.50 200,000 200,000 52,909 0.60 1.57 1,575,000 1,575,000 435,069 0.55 2.06 5,957,659 2,978,830 1,536,764 0.335 2.89 1,037,977 1,037,977 204,213 0.15 0.65 150,000 150,000 14,465 0.15 4.65 400,000 200,000 37,387 9,320,636 6,141,807 $ 2,280,807 |
Restricted Share Units (Tables)
Restricted Share Units (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Restricted Share Units | The following table summarizes the RSU activity during the three months ended March 31, 2023: Schedule of Restricted Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2021 576,000 $ 0.62 Granted 6,620,641 0.17 Vested (2,373,900 ) 0.18 Unvested as at December 31, 2022 4,822,741 $ 0.22 - - Unvested as at March 31, 2023 (ii) 4,822,741 $ 0.22 (i) On January 10, 2022, the Company granted 500,000 122,249 (ii) Includes 1,507,580 |
Deferred Share Units (Tables)
Deferred Share Units (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Deferred Share Units | |
Schedule of Deferred Share Units | The following table summarizes the DSU activity during the three months ended March 31, 2023 and 2022: Schedule of Deferred Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2021 5,625,000 $ 1.03 Vested (ii) (625,000 ) 1.03 Unvested as at March 31, 2022 5,000,000 $ 1.03 Unvested as at December 31 2022 and March 31, 2023 2,710,000 $ 1.00 (i) On March 31, 2022, the Board approved the early vesting of 625,000 |
Related party transactions (Tab
Related party transactions (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | The Company’s key management personnel have the authority and responsibility for planning, directing and controlling the activities of the Company and consists of the Company’s executive management team and management directors. Schedule of Related Party Transactions Three Months Three Months Consulting Fees and Salaries $ 215,448 $ 1,097,610 |
Nature and Continuance of Ope_2
Nature and Continuance of Operations and Going Concern (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Entity incorporation, state or country code | NV | |
Accumulated deficit | $ 69,801,410 | $ 71,592,559 |
Schedule of Accounts receivable
Schedule of Accounts receivable and prepaid expenses (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Credit Loss [Abstract] | ||
Prepaid expenses and deposits | $ 485,491 | $ 386,218 |
Environment protection agency overpayment (note 6) | 30,000 | 170,729 |
Total | $ 515,491 | $ 556,947 |
Schedule of Equipment (Details)
Schedule of Equipment (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Equipment, gross | $ 980,575 | $ 920,571 |
Less accumulated depreciation | (414,059) | (369,367) |
Equipment, net | 566,516 | 551,204 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Equipment, gross | $ 980,575 | $ 920,571 |
Schedule of Plant Asset Consist
Schedule of Plant Asset Consists (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Abstract] | ||
Plant purchase price less inventory | $ 3,633,292 | $ 3,633,292 |
Demobilization | 2,204,539 | 2,201,414 |
Site preparation costs | 3,256,110 | 2,296,266 |
Pend Oreille plant asset, net | $ 9,093,941 | $ 8,130,972 |
Schedule of Right-of-use Asset
Schedule of Right-of-use Asset (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Abstract] | ||
Loader lease | $ 114,920 | |
Loader accumulated depreciation | (6,384) | |
Right-of-use asset, net | $ 108,536 |
Equipment, Right-of-Use asset_3
Equipment, Right-of-Use asset and Process Plant (Details Narrative) - USD ($) | 3 Months Ended | ||||||
Aug. 30, 2022 | May 13, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Oct. 13, 2022 | Sep. 15, 2022 | Jan. 07, 2022 | |
Property, Plant and Equipment [Line Items] | |||||||
Depreciation expenses | $ 51,076 | $ 78,457 | |||||
Cash remitted | 60,004 | 153,350 | |||||
Value of warrants issued | (4,226,574) | (3,454,008) | |||||
Purchase of non-refundable deposit | 19,000,000 | ||||||
Depreciation expenses lease | 6,384 | 24,442 | |||||
Ball Mill [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Non-refundable long-term deposit | $ 100,000 | ||||||
Refundable long-term deposit | $ 100,000 | ||||||
Purchase of non-refundable deposit | 475,000 | ||||||
Teck Resources Limited [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Description for package comprises of property | The package comprises substantially all processing equipment of value located at the Pend Oreille mine site, including complete crushing, grinding and flotation circuits suitable for a planned ~1,500 ton-per-day operation at the Bunker Hill site, and total inventory of nearly 10,000 components and parts for mill, assay lab, conveyer, field instruments, and electrical spares. | ||||||
Non-refundable deposit | $ 500,000 | ||||||
Sales tax paid | $ 231,000 | ||||||
Cash remitted | 731,000 | ||||||
Value of shares issued | $ 1,970,264 | ||||||
Value of warrants issued | 1,273,032 | ||||||
Total value | 3,974,296 | ||||||
Spare parts inventory | 341,004 | ||||||
D'Angelo International LLC [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Purchase payments | $ 675,000 | ||||||
Equipment [Member] | |||||||
Property, Plant and Equipment [Line Items] | |||||||
Depreciation expenses | $ 44,692 | $ 54,015 |
Schedule of Mining Interests (D
Schedule of Mining Interests (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Extractive Industries [Abstract] | ||
Bunker Hill Mine and Mining interests | $ 14,247,210 | $ 14,247,210 |
Capitalized development | 1,517,526 | 1,447,435 |
Pend Oreille plant asset, net | $ 15,764,736 | $ 15,694,645 |
Bunker Hill Mine and Mining I_3
Bunker Hill Mine and Mining Interests (Details Narrative) - USD ($) | 3 Months Ended | ||||
Mar. 03, 2022 | Jan. 07, 2022 | Nov. 20, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | |
Reserve Quantities [Line Items] | |||||
Advance payment | $ 280,466 | ||||
Payments for deposits | 19,000,000 | ||||
Land purchase | $ 202,000 | $ 202,000 | |||
C and E Tree Farm LLC [Member] | Through February 2026 [Member] | |||||
Reserve Quantities [Line Items] | |||||
Monthly payments | 10,000 | ||||
C and E Tree Farm LLC [Member] | Through March 1, 2026 [Member] | |||||
Reserve Quantities [Line Items] | |||||
Option to purchase land | $ 3,129,500 | ||||
Amended Agreement [Member], Placer Mining Corp [Member] | |||||
Reserve Quantities [Line Items] | |||||
Purchases price consideration | $ 7,700,000 | ||||
Payable in cash | 5,700,000 | ||||
Remaining payments purchase assets | 300,000 | ||||
Consideration shares | 2,000,000 | ||||
Advance payment | 2,000,000 | ||||
Amended Agreement [Member], Placer Mining Corp [Member] | Minimum [Member] | |||||
Reserve Quantities [Line Items] | |||||
Payable in cash | 3,400,000 | ||||
Number shares issued of common shares | 2,000,000 | ||||
EPA Settlement Agreement[Member], Placer Mining Corp [Member] | |||||
Reserve Quantities [Line Items] | |||||
Payable in cash | $ 5,400,000 | ||||
EPA cost recovery payable - short-term | $ 11,000,000 | ||||
Contract purchase price | 7,700,000 | ||||
Payments for deposits | 2,000,000 | ||||
Credit by seller for prior maintenance payments | 300,000 | ||||
Net present value of water treatment cost recovery liability assumed | 6,402,425 | ||||
Capitalized legal and closing costs | 444,785 | ||||
Mine at time of purchase | 14,247,210 | ||||
Environmental Protection Agency Agreement [Member] | |||||
Reserve Quantities [Line Items] | |||||
Payable in cash | 5,400,000 | ||||
Payments purchase asset | 3,400,000 | ||||
Incremental Liabilities | 8,000,000 | ||||
Environmental Protection Agency Agreement [Member] | Common Stock [Member] | |||||
Reserve Quantities [Line Items] | |||||
Remaining payments purchase assets | $ 2,000,000 |
Schedule of Amended Settlement
Schedule of Amended Settlement Environmental Protection Agency Agreement (Details) - Environmental Protection Agency Agreement [Member] | Mar. 31, 2023 USD ($) |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Within 30 days of Settlement Agreement | $ 2,000,000 |
November 1, 2024 | 3,000,000 |
November 1, 2025 | 3,000,000 |
November 1, 2026 | 3,000,000 |
November 1, 2027 | 3,000,000 |
November 1, 2028 | 3,000,000 |
November 1, 2029 | $ 2,000,000 |
Environmental Protection Agen_3
Environmental Protection Agency and Water Treatment Liabilities (“EPA”) (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Jan. 07, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Payments for Deposits | $ 19,000,000 | ||||
Liabilities current | 10,102,157 | $ 10,155,582 | |||
Monthly fee | 20,000 | ||||
Restricted cash | 6,476,000 | 6,476,000 | |||
Discount amortization expense | 374,306 | ||||
Environment protection agency cost recovery liability, net of discount | 8,315,772 | 7,941,466 | |||
Interest payable | 156,343 | ||||
Monthly instalments | 100,000 | ||||
Monthly costs water treatment charges | 100,000 | ||||
Prepaid expense | 30,000 | 170,729 | |||
Third Party [Member] | |||||
Payment bond | 4,475,000 | ||||
Bunker Hill Mine [Member] | |||||
Environmental Costs Recognized, Capitalized | 6,402,425 | ||||
Liabilities current | 3,000,000 | ||||
Liabilities non current | 5,000,000 | ||||
Discount purchase price | 3,402,425 | ||||
Environmental Protection Agency Agreement [Member] | |||||
Payments for environmental liabilities | 20,000,000 | ||||
Cost recovery payable outstanding | $ 11,000,000 | ||||
Cost recovery liabilities not recogized | $ 8,000,000 | ||||
Liability assumed | 17,000,000 | ||||
Discount on debt | 8,000,000 | ||||
Environmental Protection Agency Agreement [Member] | Common Stock [Member] | |||||
Remaining payments purchase assets | $ 2,000,000 | ||||
Environmental Protection Agency Agreement [Member] | 30 Days After Agreement Signed [Member] | |||||
Payments for environmental liabilities | 1,000,000 | ||||
Environmental Protection Agency Agreement [Member] | November 1, 2018 [Member] | |||||
Payments for environmental liabilities | 2,000,000 | ||||
Environmental Protection Agency Agreement [Member] | Next Five Anniversaries [Member] | |||||
Payments for environmental liabilities | 3,000,000 | ||||
Environmental Protection Agency Agreement [Member] | November 1, 2024 [Member] | |||||
Payments for environmental liabilities | 2,000,000 | ||||
EPA Settlement Agreement Amendment [Member] | |||||
Payment bond | 17,000,000 | ||||
Payment to amended settlement | $ 17,000,000 | ||||
Letter of credit | 2,001,000 | ||||
Restricted cash | 6,476,000 | ||||
EPA Settlement Agreement Amendment [Member] | Payment Bond One [Member] | |||||
Payment bond | 9,999,000 | ||||
EPA Settlement Agreement Amendment [Member] | Payment Bond Two [Member] | |||||
Payment bond | $ 5,000,000 |
Schedule of Key Valuation Input
Schedule of Key Valuation Inputs (Details) | 3 Months Ended | |
Mar. 31, 2023 $ / shares | [1],[2],[4] | |
CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | [3] |
Maturity date | Mar. 31, 2025 | [3] |
Share price | $ 0.125 | [3] |
RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | |
Maturity date | Mar. 31, 2025 | |
Share price | $ 0.125 | |
CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | [3] |
Maturity date | Mar. 31, 2025 | [3] |
Share price | $ 0.125 | [3] |
CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Mar. 31, 2023 | [3] |
Maturity date | Mar. 31, 2025 | [3] |
Share price | $ 0.082 | [3] |
RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Mar. 31, 2023 | |
Maturity date | Mar. 31, 2025 | |
Share price | $ 0.082 | |
CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Mar. 31, 2023 | [3] |
Maturity date | Mar. 31, 2025 | [3] |
Share price | $ 0.082 | [3] |
Measurement Input Contractual Interest Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 7.50 | [3] |
Measurement Input Contractual Interest Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 10.50 | [3] |
Measurement Input Contractual Interest Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 7.50 | [3] |
Measurement Input Contractual Interest Rate [Member] | RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 10.50 | [3] |
Measurement Input, Option Volatility [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 120 | [3] |
Measurement Input, Option Volatility [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 120 | |
Measurement Input, Option Volatility [Member] | CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 120 | [3] |
Measurement Input, Option Volatility [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 115 | [3] |
Measurement Input, Option Volatility [Member] | RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 115 | |
Measurement Input, Option Volatility [Member] | CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 115 | [3] |
Measurement Input, Credit Spread [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 7.08 | [3] |
Measurement Input, Credit Spread [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 7.08 | |
Measurement Input, Credit Spread [Member] | CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 7.08 | [3] |
Measurement Input, Credit Spread [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 11.22 | [3] |
Measurement Input, Credit Spread [Member] | RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 11.22 | |
Measurement Input, Credit Spread [Member] | CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 11.22 | [3] |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.32 | [3] |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.32 | |
Measurement Input, Risk Free Interest Rate [Member] | CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.32 | [3] |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.06 | [3] |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.06 | |
Measurement Input, Risk Free Interest Rate [Member] | CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 4.06 | [3] |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 17.85 | [3] |
Measurement Input Risk Adjusted Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 17.85 | |
Measurement Input Risk Adjusted Rate [Member] | CD2 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 19.76 | [3] |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 21.33 | [3] |
Measurement Input Risk Adjusted Rate [Member] | RCD Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 21.33 | |
Measurement Input Risk Adjusted Rate [Member] | CD2 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note(3) | 23.20 | [3] |
[1]A project risk rate of 13.0 7.23 9.32 0.219 0.212 1.85 1.85% 89 11.38 4.85 22.18 |
Schedule of Key Valuation Inp_2
Schedule of Key Valuation Inputs (Details) (Parenthetical) | Mar. 31, 2023 $ / shares | Dec. 31, 2022 $ / shares | Jun. 30, 2022 | Mar. 31, 2022 |
CD1 Note [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 5 | |||
Conversion price | $ 0.219 | |||
CD2 Note [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 10 | |||
CD2 Note [Member] | Measurement Input, Credit Spread [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 9.32 | |||
CD1 and RCD [Member] | Measurement Input, Credit Spread [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 7.23 | |||
CD1 Note Two [Member] | ||||
Short-Term Debt [Line Items] | ||||
Conversion price | $ 0.212 | |||
RCD Note [Member] | ||||
Short-Term Debt [Line Items] | ||||
Percentage of royalty revenue | 1.85% | 1.85% | ||
RCD Note [Member] | Measurement Input, Credit Spread [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 11.38 | |||
RCD Note [Member] | Measurement Input Project Risk Rate [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 13 | |||
RCD Note [Member] | Measurement Input, Option Volatility [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 89 | |||
RCD Note [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 4.85 | |||
RCD Note [Member] | Measurement Input Risk Adjusted Rate [Member] | ||||
Short-Term Debt [Line Items] | ||||
RCD5 | 22.18 |
Schedule of Fair Value Derivati
Schedule of Fair Value Derivative Liability (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
CD1 Note [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | $ 5,093,130 | $ 5,537,360 |
RCD Note [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | 9,119,412 | 10,285,777 |
CD2 Note [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | 13,117,407 | 14,063,525 |
CD1, RCD and CD2 [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | $ 27,389,949 | $ 29,886,662 |
Promissory Notes Payable and _3
Promissory Notes Payable and Convertible Debentures (Details Narrative) | 1 Months Ended | 3 Months Ended | |||||||||||
Feb. 21, 2023 USD ($) | Dec. 06, 2022 USD ($) | Jun. 17, 2022 USD ($) | Mar. 03, 2022 USD ($) | Jan. 28, 2022 USD ($) | Jan. 07, 2022 USD ($) | Dec. 20, 2021 USD ($) | Sep. 22, 2021 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2023 USD ($) $ / shares | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Jan. 28, 2022 $ / shares | |
Short-Term Debt [Line Items] | |||||||||||||
Notes Payable, Current | $ 1,500,000 | $ 1,500,000 | |||||||||||
Interest expense | 1,324,629 | $ 735,237 | |||||||||||
Convertible debt | $ 66,000,000 | ||||||||||||
Periodic payment on maturity date | 10,000 | ||||||||||||
Project finance package convertible debenture | $ 50,000,000 | ||||||||||||
Project financing fee | 51,000,000 | ||||||||||||
Debenture fair value other comprehensive income | 1,689,701 | ||||||||||||
Interest payable current | 156,343 | ||||||||||||
Loss on debt settlement | 250,086 | ||||||||||||
Debt amount available under stream | $ 37,000,000 | ||||||||||||
Funding stream description | If the Company draws the maximum funding of $37,000,000, the Stream would apply to 10% of payable metals sold until a minimum quantity of metal is delivered consisting of, individually, 55 million pounds of zinc, 35 million pounds of lead, and 1 million ounces of silver (subsequently amended, as described below). Thereafter, the Stream would apply to 2% of payable metals sold. If the Company elects to draw less than $37,000,000 under the Stream, the percentage and quantities of payable metals streamed will adjust pro-rata. The delivery price of streamed metals will be 20% of the applicable spot price. The Company may buy back 50% of the Stream Amount at a 1.40x multiple of the Stream Amount between the second and third anniversary of the date of funding, and at a 1.65x multiple of the Stream Amount between the third and fourth anniversary of the date of funding. As of March 31, 2023, the Stream had not been advanced | ||||||||||||
Minimum [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Debt amount available under stream | $ 27,000,000 | ||||||||||||
Maximum [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Debt amount available under stream | 37,000,000 | ||||||||||||
Other Comprehensive Income (Loss) [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Debenture fair value other comprehensive income | 807,012 | ||||||||||||
Consolidated Balance Sheets [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Interest expense | 676,849 | ||||||||||||
Interest payable current | 691,890 | ||||||||||||
Convertible Debt [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Loan amount | $ 15,000,000 | $ 6,000,000 | |||||||||||
Increase in debt | $ 5,000,000 | ||||||||||||
Maturity date, description | maturity date would be amended from July 7, 2023 to March 31, 2025 | ||||||||||||
Interest rate | 10.50% | 7.50% | |||||||||||
Debt instrument convertible conversion price | $ / shares | $ 0.30 | ||||||||||||
Convertible Debt [Member] | 3 Quartely Payments Beginning June 30, 2024 [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Periodic payment on maturity date | $ 2,000,000 | ||||||||||||
Convertible Debt [Member] | Maturity Date [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Periodic payment on maturity date | 9,000,000 | ||||||||||||
Bridge Loan [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Loan amount | $ 5,000,000 | ||||||||||||
Loan description | The Bridge Loan bears interest at a rate of 10.5% per annum and matures at the earlier of (i) the advance of the Stream, or (ii) June 30, 2024 | ||||||||||||
Increase in quantity delivered | 5% | ||||||||||||
Bridge Loan [Member] | Consolidated Balance Sheets [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Interest payable current | 131,250 | 53,985 | |||||||||||
Interest expense, debt | $ 178,383 | ||||||||||||
Multi-metal Stream [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | 37,000,000 | ||||||||||||
Non Convertible Promissory Notes Payable [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Notes Payable | $ 2,500,000 | ||||||||||||
Interest rate | 15% | 15% | |||||||||||
Payment for Acquisition, Land, Held-for-Use | $ 202,000 | ||||||||||||
Maturity date | Jun. 15, 2023 | ||||||||||||
Loan amount | 1,000,000 | ||||||||||||
Notes Payable, Current | $ 1,500,000 | ||||||||||||
Interest expense | 55,479 | $ 92,466 | |||||||||||
Financing costs | $ 439,521 | $ 384,041 | |||||||||||
Periodic payment on maturity date | $ 18,000 | ||||||||||||
Non Convertible Promissory Notes Payable [Member] | Related Party [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | 120,000 | ||||||||||||
Non Convertible Promissory Notes Payable [Member] | Another Party [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | $ 120,000 | ||||||||||||
RCD Note [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Interest rate | 9% | ||||||||||||
Loan amount | $ 8,000,000 | ||||||||||||
Convertible debt | 8,000,000 | $ 8,000,000 | |||||||||||
Royalty percentage | 1.85% | ||||||||||||
Maturity date, description | maturity date from July 7, 2023 to March 31, 2025 | ||||||||||||
CD1 Note [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | 5,000,000 | ||||||||||||
Increase in debt | $ 6,000,000 | ||||||||||||
Debt instrument convertible conversion price | $ / shares | $ 0.219 | ||||||||||||
CD2 Note [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | 15,000,000 | ||||||||||||
Series 2 Convertible Debenture [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Indebtedness of debt | $ 15,000,000 |
Schedule of Operating Lease Lia
Schedule of Operating Lease Liability (Details) | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Lease Liability | |
Beginning Balance | |
Addition | 114,920 |
Interest expense | 3,611 |
Lease payments | (60,000) |
Ending balance | $ 58,531 |
Schedule of Estimated Using the
Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities (Details) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2023 $ / shares | Dec. 31, 2022 $ / shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Fair value | $ (4,226,574) | $ (3,454,008) | |||
Change in derivative liability | 4,226,574 | $ 3,454,008 | |||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 732 days | 822 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 1,174,663 | $ 2,406,104 | |||
Change in derivative liability | (1,231,441) | ||||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.74 | 4.06 | |||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 732 days | 822 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 45,673 | 93,553 | |||
Change in derivative liability | (47,880) | ||||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.74 | 4.06 | |||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 732 days | 822 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 35,101 | 77,429 | |||
Change in derivative liability | (42,328) | ||||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.74 | 3.72 | |||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 1046 days | 1136 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 682,573 | 1,335,990 | |||
Change in derivative liability | (653,416) | ||||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.51 | 3.72 | |||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Warrant Liabilities [Member] | August 2020 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 153 days | 243 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 1 | 903,697 | |||
Change in derivative liability | (903,696) | ||||
Warrant Liabilities [Member] | August 2020 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Warrant Liabilities [Member] | August 2020 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.74 | 4.06 | |||
Warrant Liabilities [Member] | August 2020 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 1006 days | 1096 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 338,608 | 725,737 | |||
Change in derivative liability | (387,129) | ||||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.51 | 3.82 | |||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 | |||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 1006 days | 1096 days | |||
Share price | $ / shares | $ 0.105 | $ 0.17 | |||
Fair value | 520,399 | $ 1,115,369 | |||
Change in derivative liability | $ (594,970) | ||||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.51 | 3.82 | |||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 |
Schedule of Warrant Activity (D
Schedule of Warrant Activity (Details) - Warrant [Member] | 3 Months Ended | |||
Mar. 31, 2023 $ / shares shares | Mar. 31, 2023 $ / shares shares | Mar. 31, 2022 $ / shares shares | Mar. 31, 2022 $ / shares shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of warrants, beginning balance | shares | 162,129,064 | 162,129,064 | 111,412,712 | 111,412,712 |
Weighted average exercise price, beginning balance | $ 0.49 | $ 0.54 | ||
Weighted average grant date, beginning balance | $ 0.17 | $ 0.18 | ||
Number of warrants, Expired | shares | (239,284) | (239,284) | ||
Weighted average exercise price, Expired | $ 0.70 | |||
Weighted average grant date, Expired | $ 0.21 | |||
Number of warrants, ending balance | shares | 151,712,397 | 151,712,397 | 111,173,428 | 111,173,428 |
Weighted average exercise price, ending balance | $ 0.50 | $ 0.52 | ||
Weighted average grant date, ending balance | $ 0.17 | $ 0.18 | ||
Number of warrants, Exercised | shares | (10,416,667) | (10,416,667) | ||
Weighted average exercise price, Exercised | $ 0.11 | |||
Weighted average grant date, Exercised | $ 0.12 |
Schedule of Warrants Outstandin
Schedule of Warrants Outstanding Exercise Price (Details) | Mar. 31, 2023 $ / shares shares |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Number of warrants | 151,712,397 |
Number of warrants exercisable | 151,712,379 |
Warrants One [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | Aug. 31, 2023 |
Exercise price | $ / shares | $ 0.50 |
Number of warrants | 58,284,148 |
Number of warrants exercisable | 58,284,148 |
Warrants Two [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | Dec. 31, 2025 |
Exercise price | $ / shares | $ 0.59 |
Number of warrants | 32,895,200 |
Number of warrants exercisable | 32,895,200 |
Warrants Three [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | Feb. 09, 2026 |
Exercise price | $ / shares | $ 0.60 |
Number of warrants | 17,112,500 |
Number of warrants exercisable | 17,112,500 |
Warrants Four [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | Feb. 16, 2026 |
Exercise price | $ / shares | $ 0.60 |
Number of warrants | 2,881,580 |
Number of warrants exercisable | 2,881,580 |
Warrants Five [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | Apr. 01, 2025 |
Exercise price | $ / shares | $ 0.37 |
Number of warrants | 40,538,969 |
Number of warrants exercisable | 40,538,969 |
Schedule of Estimated Fair Valu
Schedule of Estimated Fair Value of Special Warrant Liabilities (Details) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2023 $ / shares | Dec. 31, 2022 $ / shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Fair value | $ (4,226,574) | $ (3,454,008) | |||
Change in derivative liability | 4,226,574 | $ 3,454,008 | |||
March 2023 Special Warrants Issuance [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Expected life | 1092 days | 0 days | |||
Share price | $ / shares | $ 0.105 | $ 0.11 | |||
Fair value | 2,815,761 | $ 2,781,323 | |||
Change in derivative liability | $ 34,438 | ||||
March 2023 Special Warrants Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 120 | 120 | |||
March 2023 Special Warrants Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 3.51 | 3.40 | |||
March 2023 Special Warrants Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Dividend yield | 0 | 0 |
Schedule of Compensation Option
Schedule of Compensation Options (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of stock options, beginning | 9,320,636 | 9,053,136 |
Weighted average exercise price beginning balance | $ 0.51 | $ 0.58 |
Issued - Compensation Options | 700,000 | |
Weighted Average exercise price, Compensation Options Issued | $ 0.15 | |
Number of stock options, ending | 9,320,636 | 9,320,636 |
Weighted average exercise price ending balance | $ 0.51 | $ 0.51 |
Compensation Options [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of stock options, beginning | 5,470,799 | 3,590,907 |
Weighted average exercise price beginning balance | $ 0.34 | $ 0.35 |
Issued - Compensation Options | 2,070,258 | 1,879,892 |
Weighted Average exercise price, Compensation Options Issued | $ 0.12 | $ 0.30 |
Number of stock options, ending | 7,541,057 | 5,470,799 |
Weighted average exercise price ending balance | $ 0.28 | $ 0.34 |
Schedule of Estimated Using Bla
Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options (Details) - March 2023 [Member] | 3 Months Ended |
Mar. 31, 2023 $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Risk free interest rate | 3.40% |
Dividend yield | 0% |
Volatility | 120% |
Stock price | $ 0.11 |
Weighted average life | 3 years |
Schedule of Broker Exercise Pri
Schedule of Broker Exercise Prices (Details) | Mar. 31, 2023 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of warrants exercisable | 151,712,379 | |
Broker Options [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of broker options | 7,541,057 | |
Number of warrants exercisable | 966,477 | |
August 31, 2023 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expiry date | Aug. 31, 2023 | [1] |
Exercise price | $ / shares | $ 0.35 | [1] |
Number of broker options | 3,239,907 | [1] |
Number of warrants exercisable | 521,993 | [1] |
February 16, 2024 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expiry date | Feb. 16, 2024 | [2] |
Exercise price | $ / shares | $ 0.40 | [2] |
Number of broker options | 351,000 | [2] |
Number of warrants exercisable | 68,078 | [2] |
April 1, 2024 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expiry date | Apr. 01, 2024 | [3] |
Exercise price | $ / shares | $ 0.30 | [3] |
Number of broker options | 1,879,892 | [3] |
Number of warrants exercisable | 264,435 | [3] |
March 27, 2024 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expiry date | Mar. 27, 2026 | [4] |
Exercise price | $ / shares | $ 0.12 | [4] |
Number of broker options | 2,070,057 | [4] |
Number of warrants exercisable | 111,971 | [4] |
[1]Exercisable into one August 2020 Unit[2]Exercisable into one February 2021 Unit[3]Exercisable into one April 2022 Unit[4]Exercisable into one March 2023 Unit |
Schedule of Stock Options (Deta
Schedule of Stock Options (Details) - $ / shares | 3 Months Ended | 4 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | May 01, 2022 | Dec. 31, 2022 | ||
Equity [Abstract] | ||||
Number of stock options, beginning | 9,320,636 | 9,053,136 | 9,053,136 | |
Weighted average exercise price beginning balance | $ 0.51 | $ 0.58 | $ 0.58 | |
Number of stock options, Granted | 700,000 | |||
Weighted average exercise price, Granted | $ 0.15 | |||
Number of stock options, Expired | (47,000) | (235,500) | ||
Weighted average exercise price, Granted | [1] | $ 10 | $ 0.50 | |
Number of stock options, Forfeited | (150,000) | |||
Weighted average exercise price, Granted | [1] | $ 0.15 | ||
Number of stock options, ending | 9,320,636 | 9,320,636 | ||
Weighted average exercise price ending balance | $ 0.51 | $ 0.51 | ||
[1]Includes 1,507,580 |
Schedule of Actual Stock Option
Schedule of Actual Stock Options Issued and Outstanding (Details) | 3 Months Ended | ||
Mar. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 shares | Dec. 31, 2021 shares | |
Subsidiary, Sale of Stock [Line Items] | |||
Number of stock options outstanding | 9,320,636 | 9,320,636 | 9,053,136 |
Number of options vested (exercisable) | 6,141,807 | ||
Grant date fair value | $ | $ 2,280,807 | ||
Stock Options One [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.60 | ||
Remaining contractual life (years) | 6 months | ||
Number of stock options outstanding | 200,000 | ||
Number of options vested (exercisable) | 200,000 | ||
Grant date fair value | $ | $ 52,909 | ||
Stock Options Two [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.60 | ||
Remaining contractual life (years) | 1 year 6 months 25 days | ||
Number of stock options outstanding | 1,575,000 | ||
Number of options vested (exercisable) | 1,575,000 | ||
Grant date fair value | $ | $ 435,069 | ||
Stock Options Three [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.55 | ||
Remaining contractual life (years) | 2 years 21 days | ||
Number of stock options outstanding | 5,957,659 | ||
Number of options vested (exercisable) | 2,978,830 | ||
Grant date fair value | $ | $ 1,536,764 | ||
Stock Options Four [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.335 | ||
Remaining contractual life (years) | 2 years 10 months 20 days | ||
Number of stock options outstanding | 1,037,977 | ||
Number of options vested (exercisable) | 1,037,977 | ||
Grant date fair value | $ | $ 204,213 | ||
Stock Options Five [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.15 | ||
Remaining contractual life (years) | 7 months 24 days | ||
Number of stock options outstanding | 150,000 | ||
Number of options vested (exercisable) | 150,000 | ||
Grant date fair value | $ | $ 14,465 | ||
Stock Options Six [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Exercise price | $ / shares | $ 0.15 | ||
Remaining contractual life (years) | 4 years 7 months 24 days | ||
Number of stock options outstanding | 400,000 | ||
Number of options vested (exercisable) | 200,000 | ||
Grant date fair value | $ | $ 37,387 |
Capital Stock, Warrants and S_3
Capital Stock, Warrants and Stock Options (Details Narrative) | 1 Months Ended | 3 Months Ended | ||||||
Mar. 31, 2023 USD ($) $ / shares shares | Mar. 31, 2023 CAD ($) shares | Mar. 31, 2023 USD ($) $ / shares shares | Mar. 31, 2022 USD ($) shares | Mar. 31, 2023 $ / shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 $ / shares | May 13, 2022 $ / shares shares | |
Subsidiary, Sale of Stock [Line Items] | ||||||||
Common stock, shares authorized | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | |||||
Common stock, par value | $ / shares | $ 0.000001 | $ 0.000001 | $ 0.000001 | |||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||||
Preferred stock, par value | $ / shares | $ 0.000001 | $ 0.000001 | $ 0.000001 | |||||
Warrants issued | 151,712,379 | 151,712,379 | ||||||
Gain on warrant extinguishment | $ | $ 214,714 | |||||||
Proceeds from warrant exercise | $ | 837,459 | |||||||
Derivative liability | $ | $ 1 | 1 | $ 903,697 | |||||
Gross proceeds | $ | 3,661,822 | |||||||
Settlement of accounts payable, accrued liabilities and promissory notes | $ | $ 874,198 | |||||||
Warrant outstanding | 151,712,397 | 151,712,397 | ||||||
Compensation Options [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Options price | $ | $ 111,971 | |||||||
March 2023 Special Warrants Issuance [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Stock price | $ / shares | $ 0.105 | $ 0.11 | ||||||
Warrant outstanding | 51,633,727 | 51,633,727 | ||||||
Warrant [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Warrants expired | 10,416,667 | |||||||
Warrants expired | 239,284 | |||||||
May 2022 Teck Warrants [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Warrants expired | 10,416,667 | |||||||
February 2020 Broker Warrants [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Warrants expired | 239,284 | |||||||
Brokered Private Placement [Member] | March 2023 Special Warrants Issuance [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Warrants issued | 51,633,727 | 51,633,727 | ||||||
Issue price | $ / shares | $ 0.12 | $ 0.12 | ||||||
Gross proceeds | $ 4,536,020 | $ 6,196,047 | ||||||
Gross proceeds, received in cash | $ | $ 3,661,822 | $ 3,661,822 | ||||||
Settlement of accounts payable, accrued liabilities and promissory notes | $ | $ 874,198 | |||||||
Warrants description | Each March 2023 Unit consists of one share of Common Share of the Company (each, a “Unit Share”) and one common stock purchase warrant of the Company (each, a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one Common Share of the Company (a “Warrant Share”, and together with the Unit Shares, the “Underlying Shares”) at an exercise price of C$0.15 per Warrant Share until March 27, 2026, subject to adjustment in certain events. In the event that the Registration Statement has not been declared effective by the SEC on or before 5:00 p.m. (EST) on July 27, 2023, each unexercised Special Warrant will be deemed to be exercised on the Automatic Exercise Date into one penalty unit of the Company (each, a “Penalty Unit”), with each Penalty Unit being comprised of 1.2 Unit Shares and 1.2 Warrants. | Each March 2023 Unit consists of one share of Common Share of the Company (each, a “Unit Share”) and one common stock purchase warrant of the Company (each, a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one Common Share of the Company (a “Warrant Share”, and together with the Unit Shares, the “Underlying Shares”) at an exercise price of C$0.15 per Warrant Share until March 27, 2026, subject to adjustment in certain events. In the event that the Registration Statement has not been declared effective by the SEC on or before 5:00 p.m. (EST) on July 27, 2023, each unexercised Special Warrant will be deemed to be exercised on the Automatic Exercise Date into one penalty unit of the Company (each, a “Penalty Unit”), with each Penalty Unit being comprised of 1.2 Unit Shares and 1.2 Warrants. | ||||||
Compensation Options [Member] | Warrant [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Payments of Stock Issuance Costs | $ | $ 585,765 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures | 2,070,258 | 2,070,258 | ||||||
Exercise price | $ / shares | $ 0.12 | |||||||
Teck Resources Limited [Member] | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Warrants issued | 10,416,667 | |||||||
Exercise price | $ / shares | 0.11 | $ 0.37 | ||||||
Warrants expired | Mar. 31, 2023 | Mar. 31, 2023 | ||||||
Gain on warrant extinguishment | $ | $ 214,714 | |||||||
Warrants expired | 10,416,667 | 10,416,667 | ||||||
Proceeds from warrant exercise | $ | $ 1,145,834 | |||||||
Derivative liability | $ | $ 400,152 | $ 400,152 | ||||||
Volatility rate | 120% | 120% | ||||||
Stock price | $ / shares | $ 0.11 | |||||||
Interest rate | 3.42% | 3.42% | ||||||
Interest rate | 4.06% | 4.06% | ||||||
Dividend rate | 0% | 0% |
Schedule of Restricted Share Un
Schedule of Restricted Share Units (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | ||
Share-Based Payment Arrangement [Abstract] | |||
Number of shares, Unvested, Beginning balance | 4,822,741 | 576,000 | |
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 0.22 | $ 0.62 | |
Number of shares, Granted | 6,620,641 | ||
Weighted average grant date fair value per share, Granted | $ 0.17 | ||
Number of shares, Vested | (2,373,900) | ||
Weighted average grant date fair value per share, Vested | $ 0.18 | ||
Number of shares, Unvested, ending balance | 4,822,741 | [1] | 4,822,741 |
Weighted average grant date fair value per share, Unvested, Ending balance | $ 0.22 | [1] | $ 0.22 |
[1]Includes 1,507,580 |
Schedule of Restricted Share _2
Schedule of Restricted Share Units (Details) (Parenthetical) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jan. 10, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share based payment award, grants in period | 6,620,641 | ||
Number of vested stock option shares | 1,507,580 | ||
Consultant [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share based payment award, grants in period | 500,000 | ||
Stock based compensation | $ 122,249 |
Schedule of Deferred Share Unit
Schedule of Deferred Share Units (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Number of shares, Unvested, Beginning balance | 4,822,741 | 576,000 | 576,000 | ||
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 0.22 | $ 0.62 | $ 0.62 | ||
Number of shares, Vested | (2,373,900) | ||||
Weighted average grant date fair value per share, Vested | $ 0.18 | ||||
Number of shares, Unvested, ending balance | 4,822,741 | [1] | 4,822,741 | ||
Weighted average grant date fair value per share, Unvested, Ending balance | $ 0.22 | [1] | $ 0.22 | ||
Deferred Share Unit [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Number of shares, Unvested, Beginning balance | 5,625,000 | 5,625,000 | |||
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 1.03 | $ 1.03 | |||
Number of shares, Vested | [2] | (625,000) | |||
Weighted average grant date fair value per share, Vested | [2] | $ 1.03 | |||
Number of shares, Unvested, ending balance | 2,710,000 | 5,000,000 | |||
Weighted average grant date fair value per share, Unvested, Ending balance | $ 1 | $ 1.03 | |||
[1]Includes 1,507,580 625,000 |
Schedule of Deferred Share Un_2
Schedule of Deferred Share Units (Details) (Parenthetical) - shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of shares, vested | 2,373,900 | |||
Deferred Share Unit [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of shares, vested | [1] | 625,000 | ||
Deferred Share Unit [Member] | Director [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Number of shares, vested | 625,000 | |||
[1]On March 31, 2022, the Board approved the early vesting of 625,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Monthly payments | $ 10,000 |
Schedule of Related Party Trans
Schedule of Related Party Transactions (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Related Party Transactions [Abstract] | ||
Consulting Fees and Salaries | $ 215,448 | $ 1,097,610 |
Related party transactions (Det
Related party transactions (Details Narrative) - USD ($) | Mar. 31, 2023 | Mar. 31, 2022 |
Key Management Personnel [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts payable and accrued liabilities | $ 248,533 | $ 825,776 |