Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Entity Addresses [Line Items] | |
Document Type | S-1 |
Amendment Flag | false |
Entity Registrant Name | BUNKER HILL MINING CORP. |
Entity Central Index Key | 0001407583 |
Entity Primary SIC Number | 1041 |
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, Postal Zip Code | M5C 1P1 |
City Area Code | (416) |
Local Phone Number | 477-7771 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | 40 E. Lancaster Avenue LTW 22 |
Entity Address, Address Line Two | Ardmore |
Entity Address, City or Town | PA |
Entity Address, Postal Zip Code | 19003 |
Contact Personnel Name | J.P. Galda |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets | ||
Cash | $ 708,105 | $ 486,063 |
Restricted cash (note 7) | 6,476,000 | |
Accounts receivable and prepaid expenses (note 5) | 556,947 | 413,443 |
Short-term deposit | 68,939 | |
Prepaid mine deposit and acquisition costs (note 6) | 2,260,463 | |
Prepaid finance costs | 393,640 | |
Total current assets | 7,741,052 | 3,622,548 |
Non-current assets | ||
Spare parts inventory | 341,004 | |
Equipment (note 5) | 551,204 | 396,894 |
Long-term deposit (note 5) | 269,015 | |
Right-of-use assets (note 6) | 52,353 | |
Bunker Hill Mine and Mining interests (note 7) | 15,896,645 | 1 |
Process plant (note 5) | 8,130,972 | |
Total assets | 32,929,892 | 4,071,796 |
Current liabilities | ||
Accounts payable | 4,523,502 | 1,312,062 |
Accrued liabilities | 1,500,164 | 869,581 |
EPA water treatment payable (note 8) | 5,110,706 | |
Interest payable (notes 8 and 9) | 1,154,477 | 409,242 |
Derivative warrant liability (note 11) | 903,697 | |
Deferred share units liability (note 14) | 573,742 | 1,531,409 |
Promissory notes payable (note 9) | 1,500,000 | 2,500,000 |
Environment protection agency cost recovery payable (note 8) | 11,000,000 | |
Current portion of lease liability (note 10) | 62,277 | |
Total current liabilities | 10,155,582 | 22,795,277 |
Non-current liabilities | ||
Loan payable (note 9) | 4,684,446 | |
Series 1 convertible debenture (note 9) | 5,537,360 | |
Series 2 convertible debenture (note 9) | 14,063,525 | |
Royalty convertible debenture (note 9) | 10,285,777 | |
Environment protection agency cost recovery liability net of discount (note 8) | 7,941,466 | |
Derivative warrant liability (note 11) | 6,438,679 | 15,518,887 |
Total liabilities | 59,106,835 | 38,314,164 |
Shareholders’ Deficiency | ||
Preferred shares, $0.000001 par value, 10,000,000 preferred shares authorized; Nil preferred shares issued and outstanding (note 11) | ||
Common shares, $0.000001 par value, 1,500,000,000 common shares authorized; 229,501,661 and 164,435,826 common shares issued and outstanding, respectively (note 11) | 228 | 164 |
Additional paid-in-capital (note 11) | 45,161,513 | 38,248,618 |
Accumulated other comprehensive income | 253,875 | |
Accumulated Deficit | (71,592,559) | (72,491,150) |
Total shareholders’ deficiency | (26,176,943) | (34,242,368) |
Total shareholders’ deficiency and liabilities | $ 32,929,892 | $ 4,071,796 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
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 outstanding | 229,501,661 | 164,435,826 |
Common stock, shares issued | 229,501,661 | 164,435,826 |
Consolidated Statements of Inco
Consolidated Statements of Income (loss) and Comprehensive Income (loss) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating expenses | ||
Operation and administration (notes 11, 13 and 14) | $ 2,033,879 | $ 2,651,954 |
Exploration | 13,530,819 | |
Mine preparation | 7,827,656 | |
Legal and accounting | 1,147,861 | 1,035,777 |
Consulting and wages (note 17) | 5,477,765 | 1,533,954 |
Loss from operations | (16,487,161) | (18,752,504) |
Other income or gain (expense or loss) | ||
Change in derivative liability (note 11) | 15,696,391 | 12,300,453 |
(loss) gain on foreign exchange | (237,546) | 208,660 |
Loss on fair value of convertible debentures (note 9) | (1,140,537) | |
Gain on EPA debt extinguishment (note 8) | 8,614,103 | |
Interest expense (notes 8 and 9) | (3,382,559) | (102,740) |
Debenture finance costs (note 9) | (1,230,540) | |
Financing costs | (945,507) | |
Other income | 18,626 | |
Other expense | (6,679) | |
Loss on debt settlement | (56,146) | |
Net income (loss) for the year | 898,591 | (6,402,277) |
Other comprehensive income (loss), net of tax | ||
Gain on change in FV on own credit risk (note 9) | 253,875 | |
Other comprehensive income (loss) | 253,875 | |
Comprehensive income (loss) | $ 1,152,466 | $ (6,402,277) |
Net Income (loss) per common share | ||
Net income (loss) per common share – basic (note 12) | $ 0 | $ (0.04) |
Net income (loss) per common share – fully diluted (note 12) | $ 0 | $ (0.04) |
Weighted average number of common shares | ||
Weighted average common shares – basic (note 12) | 205,950,811 | 161,868,334 |
Weighted average common shares – fully diluted (note 12) | 269,801,281 | 161,868,334 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating activities | ||
Net Income (loss) for the year | $ 898,591 | $ (6,402,277) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 421,881 | 1,730,308 |
Depreciation expense | 214,643 | 239,904 |
Change in derivative liability | (15,696,391) | (12,300,453) |
Units issued for services | 1,060,858 | |
Imputed interest expense on lease liability | 1,834 | 12,696 |
Interest expense | 16,466 | |
Financing costs | 264,435 | |
Foreign exchange loss (gain) | 233,059 | |
Foreign exchange loss (gain) on re-translation of lease | 718 | 2,165 |
Loss on debt settlement | 56,146 | |
Amortization of EPA discount | 996,400 | |
Loss on fair value of convertible debt derivatives | 1,140,537 | |
Gain on EPA debt extinguishment | (8,614,103) | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 369,544 | (12,598) |
Prepaid mine acquisition costs | (260,463) | |
Prepaid finance costs | 393,640 | (393,640) |
Prepaid expenses and deposits | (1,133,124) | 76,112 |
Accounts payable | 773,102 | (128,774) |
Accrued liabilities | 316,167 | 787,363 |
EPA water treatment payable | (4,458,707) | 1,974,656 |
EPA cost recovery payable | (2,000,000) | 3,000,000 |
Interest payable – EPA | (78,710) | |
Interest payable | 2,380,853 | 246,702 |
Net cash used in operating activities | (22,498,307) | (11,372,153) |
Investing activities | ||
Purchase of spare inventory | (341,004) | |
Land purchase | (202,000) | |
Bunker Hill mine purchase | (5,524,322) | |
Mine improvements | (1,157,059) | |
Purchase and demobilization of Process plant | (3,129,856) | |
Process plant | (503,831) | |
Purchase of machinery and equipment | (316,600) | (94,693) |
Net cash used in investing activities | (11,174,672) | (94,693) |
Financing activities | ||
Proceeds from convertible debentures | 29,000,000 | |
Proceeds from bridge loan | 4,668,000 | |
Proceeds from issuance of shares, net of issue costs | 7,767,849 | 6,013,439 |
Proceeds from promissory note | 2,500,000 | |
Repayment of promissory note | (1,000,000) | |
Lease payments | (64,828) | (129,191) |
Net cash provided by financing activities | 40,371,021 | 8,384,248 |
Net change in cash and restricted cash | 6,698,042 | (3,082,598) |
Cash, beginning of year | 486,063 | 3,568,661 |
Cash and restricted cash, end of year | 7,148,105 | 486,063 |
Non-cash activities: | ||
Units issued to settle accounts payable and accrued liabilities | 228,421 | 188,146 |
Units issued to settle interest payable | 1,400,174 | |
Mill purchase for shares and warrants | 3,243,296 | |
Units issued to settle DSU/RSU/Bonuses | 872,399 | |
Reconciliation from Cash Flow Statement to Balance Sheet: | ||
Less restricted cash | 6,476,000 | |
Cash | $ 708,105 | $ 486,063 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Deficiency - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Beginning balance value | $ (34,242,368) | $ (31,537,597) | |
Stock-based compensation | 700,737 | 1,309,024 | |
Compensation options | 264,435 | ||
Shares issued for interest payable | 1,400,174 | ||
Shares issued for RSUs vested | |||
Non brokered shares issued for C$0.30 | 352,855 | ||
Special warrant shares issued for C$0.30 | 9,083,757 | ||
Contractor shares issued for C$0.30 | 290,000 | ||
Shares issued for Process plant purchase | 1,970,264 | ||
Issue costs | (902,427) | (154,630) | |
Warrant valuation | (6,246,848) | (3,813,103) | |
Gain on fair value from change in credit risk | 253,875 | ||
Net income (loss) | 898,591 | (6,402,277) | |
Shares issued at $0.32 per share | [1] | 6,168,069 | |
Shares issued for debt settlement at $0.45 per share | [2] | 188,146 | |
Ending balance value | (26,176,943) | (34,242,368) | |
Common Stock [Member] | |||
Beginning balance value | $ 164 | $ 143 | |
Beginning balance, shares | 164,435,826 | 143,117,452 | |
Stock-based compensation | |||
Compensation options | |||
Shares issued for interest payable | $ 12 | ||
Shares issued for interest payable, shares | 11,544,279 | ||
Shares issued for RSUs vested | $ 2 | $ 1 | |
Shares issued for RSUs vested, shares | 2,565,900 | 1,324,294 | |
Non brokered shares issued for C$0.30 | $ 1 | ||
Non brokered shares issued for C$0.30 | 1,471,664 | ||
Special warrant shares issued for C$0.30 | $ 38 | ||
Special warrant shares issued for $0.30 CAD, shares | 37,849,325 | ||
Contractor shares issued for C$0.30 | $ 1 | ||
Contractor shares issued for $0.30 CAD, shares | 1,218,000 | ||
Shares issued for Process plant purchase | $ 10 | ||
Shares issued for Process plant purchase, shares | 10,416,667 | ||
Issue costs | |||
Warrant valuation | |||
Gain on fair value from change in credit risk | |||
Net income (loss) | |||
Shares issued at $0.32 per share | [1] | $ 20 | |
Shares issued @ $0.32 per share, shares | [1] | 19,576,360 | |
Shares issued for debt settlement at $0.45 per share | [2] | ||
Shares issued for debt settlement at $0.45 per share, shares | [2] | 417,720 | |
Ending balance value | $ 228 | $ 164 | |
Ending balance, shares | 229,501,661 | 164,435,826 | |
Additional Paid-in Capital [Member] | |||
Beginning balance value | $ 38,248,618 | $ 34,551,133 | |
Stock-based compensation | 700,737 | 1,309,024 | |
Compensation options | 264,435 | ||
Shares issued for interest payable | 1,400,174 | ||
Shares issued for RSUs vested | (2) | (1) | |
Non brokered shares issued for C$0.30 | 352,854 | ||
Special warrant shares issued for C$0.30 | 9,083,719 | ||
Contractor shares issued for C$0.30 | 289,999 | ||
Shares issued for Process plant purchase | 1,970,254 | ||
Issue costs | (902,427) | (154,630) | |
Warrant valuation | (6,246,848) | (3,813,103) | |
Gain on fair value from change in credit risk | |||
Net income (loss) | |||
Shares issued at $0.32 per share | [1] | 6,168,049 | |
Shares issued for debt settlement at $0.45 per share | [2] | 188,146 | |
Ending balance value | 45,161,513 | 38,248,618 | |
AOCI Attributable to Parent [Member] | |||
Beginning balance value | |||
Stock-based compensation | |||
Compensation options | |||
Shares issued for interest payable | |||
Shares issued for RSUs vested | |||
Non brokered shares issued for C$0.30 | |||
Special warrant shares issued for C$0.30 | |||
Contractor shares issued for C$0.30 | |||
Shares issued for Process plant purchase | |||
Issue costs | |||
Warrant valuation | |||
Gain on fair value from change in credit risk | 253,875 | ||
Net income (loss) | |||
Shares issued at $0.32 per share | [1] | ||
Shares issued for debt settlement at $0.45 per share | [2] | ||
Ending balance value | 253,875 | ||
Retained Earnings [Member] | |||
Beginning balance value | (72,491,150) | (66,088,873) | |
Stock-based compensation | |||
Compensation options | |||
Shares issued for interest payable | |||
Shares issued for RSUs vested | |||
Non brokered shares issued for C$0.30 | |||
Special warrant shares issued for C$0.30 | |||
Contractor shares issued for C$0.30 | |||
Shares issued for Process plant purchase | |||
Issue costs | |||
Warrant valuation | |||
Gain on fair value from change in credit risk | |||
Net income (loss) | 898,591 | (6,402,277) | |
Shares issued at $0.32 per share | [1] | ||
Shares issued for debt settlement at $0.45 per share | [2] | ||
Ending balance value | $ (71,592,559) | $ (72,491,150) | |
[1]Units issued at C$ 0.40 0.32 0.57 0.45 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Deficiency (Parenthetical) | Dec. 31, 2022 $ / shares | Dec. 31, 2022 $ / shares |
Class of Stock [Line Items] | ||
Shares issued price per share | (per share) | $ 0.24 | $ 0.30 |
Debt settlement, per share price | (per share) | $ 0.45 | 0.57 |
Non-brokered Shares [Member] | ||
Class of Stock [Line Items] | ||
Shares issued price per share | 0.30 | |
Contractor Shares [Member] | ||
Class of Stock [Line Items] | ||
Shares issued price per share | $ 0.30 |
Nature and continuance of opera
Nature and continuance of operations and going concern | 12 Months Ended |
Dec. 31, 2022 | |
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 initial purpose of engaging in mineral exploration activities at the Mine. The Company has moved into the development stage concurrent with (i) purchasing the Mine and a process plant, (ii) completing successive technical and economic studies, including a Prefeasibility Study, (iii) delineating mineral reserves, and (iv) conducting the program of activities outlined above. Going Concern: These consolidated financial statements have been prepared on a going concern basis. The Company has incurred losses since inception resulting in an accumulated deficit of $ 71,592,559 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 8). These 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. COVID-19: The Company’s operations could be significantly adversely affected by the effects of a widespread global outbreak of epidemics, pandemics, or other health crises, including the recent outbreak of respiratory illness caused by the novel coronavirus (“COVID-19”). Although the pandemic has subsided significantly, the Company cannot accurately predict the impact a COVID-19 resurgence would have on its operations and the ability of others to meet their obligations with the Company, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect the Company’s operations and ability to finance its operations. 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. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Basis of presentation
Basis of presentation | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | 2. Basis of presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to exploration stage enterprises. The consolidated financial statements are expressed in U.S. dollars, the Company’s functional currency. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant accounting policies | 3. Significant accounting policies The following is a summary of significant accounting policies used in the preparation of these consolidated financial statements. Basis of consolidation These consolidated financial statements include the assets, liabilities and expenses of the Company and its wholly owned subsidiary, Silver Valley Metals Corp. (formerly American Zinc Corp.). All intercompany transactions and balances have been eliminated on consolidation. Cash and cash equivalents Cash and cash equivalents may include highly liquid investments with original maturities of three months or less. Mineral rights, property and acquisition costs The Company transitioned from the exploration stage to the development stage at the beginning of the fourth quarter of 2022. The Company has not yet realized any revenues from its planned operations. The Company capitalizes acquisition and option costs of mineral rights as intangible assets when there is sufficient evidence to support probability of generating positive economic returns in the future. Upon commencement of commercial production, the mineral rights will be amortized using the unit-of-production method over the life of the mineral rights. If the Company does not continue with exploration after the completion of the feasibility study, the mineral rights will be expensed at that time. The costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred to develop and expand the capacity of mines, or to develop mine areas in advance of production, are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current exploration or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (FASB ASC) 360-10-35, Impairment or Disposal of Long-Lived Assets. Equipment Equipment is stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from 3 10 The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of equipment or whether the remaining balance of the equipment should be evaluated for possible impairment. If events and circumstances warrant evaluation, the Company uses an estimate of the related undiscounted cash flows over the remaining life of the equipment in measuring their recoverability. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Leases Operating lease right of use (“ROU”) assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in operation and administration expenses in the consolidated statements of Income (loss) and comprehensive Income (loss). The Company is required to make additional payments for certain variable costs. These costs are expensed and included in operation and administration expenses in the consolidated statements of loss and comprehensive loss. Rental income obtained through subleases is recorded as income over the lease term and is offset against operation and administration expenses. Impairment of long-lived assets The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under FASB ASC 360, Property, Plant and Equipment, if events or circumstances indicate that their carrying amount might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis is performed using the rules of FASB ASC 930-360-35, Extractive Activities – Mining, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets. Various factors could impact the Company’s ability to achieve forecasted production schedules. Additionally, commodity prices, capital expenditure requirements and reclamation costs could differ from the assumptions the Company may use in future production cash flow models when compared to factors used to assess impairment. The ability to achieve the estimated quantities of recoverable minerals from development stage mineral interests involves further risks in addition to those factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineralized material can ultimately be mined economically. Fair value of financial instruments The Company adopted FASB ASC 820-10, Fair Value Measurement. This guidance defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the consolidated balance sheets for cash, restricted cash, accounts receivable excluding HST, accounts payable, accrued liabilities, interest payable, promissory notes payable, environmental protection agency water treatment payable, environmental protection agency cost recovery payable, and lease liability, all of which qualify as financial instruments, are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and current market rate of interest. The carrying amounts of convertible loans are reported at estimated fair values as a result of the application of fair value models at each quarter end. The Company measured its DSU liability at fair value on recurring basis using level 1 inputs. Derivative warrant liabilities and convertible debentures are measured at fair value on recurring basis using level 3 inputs. Environmental expenditures The operations of the Company have been, and may in the future be, affected from time to time, in varying degrees, by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company’s policy is to meet, or if possible, surpass standards set by relevant legislation, by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are expensed as incurred or capitalized and amortized depending on their future economic benefits. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Income taxes The Company accounts for income taxes in accordance with Accounting Standard Codification 740, Income Taxes (“FASB ASC 740”), on a tax jurisdictional basis. The Company files income tax returns in the United States. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and the consolidated financial statements reported amounts using enacted tax rates and laws in effect in the year in which the differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is determined to be more likely than not that the deferred tax asset will not be realized. The Company assesses the likelihood of the consolidated financial statements effect of a tax position that should be recognized when it is more likely than not that the position will be sustained upon examination by a taxing authority based on the technical merits of the tax position, circumstances, and information available as of the reporting date. The Company is subject to examination by taxing authorities in jurisdictions such as the United States. Management does not believe that there are any uncertain tax positions that would result in an asset or liability for taxes being recognized in the accompanying consolidated financial statements. The Company recognizes tax-related interest and penalties, if any, as a component of income tax expense. FSAB ASC 740 prescribes recognition threshold and measurement attributes for the consolidated financial statements recognition and measurement of a tax position taken, or expected to be taken, in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in periods, disclosure and transition. At December 31, 2022, December 31, 2021, the Company has not taken any tax positions that would require disclosure under FASB ASC 740. Basic and diluted net income (loss) per share The Company computes net income (loss) per share in accordance with FASB ASC 260, Earnings per Share (“FASB ASC 260”). Under the provisions of FASB ASC 260, basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, RSU’s, warrants and the conversion of convertible loan payable. As of December 31, 2022, 9,005,636 162,129,064 5,470,799 9,053,136 111,412,712 3,590,907 Stock-based compensation In December 2004, FASB issued FASB ASC 718, Compensation – Stock Compensation (“FASB ASC 718”), which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments. FASB ASC 718 focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions. FASB ASC 718 requires that the compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. That cost will be measured based on the fair value of the equity or liability instruments issued. The Company accounts for stock-based compensation arrangements with non-employees in accordance with ASU 505-50, Equity-Based Payments to Non-Employees, which requires that such equity instruments are recorded at the value on the grant date based on fair value of the equity or goods and services whichever is more reliable. Restricted share units (“RSUs”) The Company estimates the grant date fair value of RSUs using the Company’s common shares at the grant date. The Company records the value of the RSUs in paid-in capital. Deferred share units (“DSUs”) The Company estimates the grant date fair value of the DSUs using the trading price of the Company’s common shares on the day of grant. The Company records the value of the DSUs owing to its directors as DSU liability and measures the DSU liability at fair value at each reporting date, with changes in fair value recognized as stock-based compensation in profit (loss). Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Use of estimates and assumptions Many of the amounts included in the consolidated financial statements require management to make judgments and/or estimates. These judgments and estimates are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. Actual results may differ from the amounts included in the consolidated financial statements. Areas of significant judgment and estimates affecting the amounts recognized in the consolidated financial statements include: Going concern The assessment of the Company’s ability to continue as a going concern involves judgment regarding future funding available for its operations and working capital requirements as discussed in note 1. Accrued liabilities The Company has to make estimates to accrue for certain expenditures due to delay in receipt of third-party vendor invoices. These accruals are made based on trends, history and knowledge of activities. Actual results may be different. The Company makes monthly estimates of its water treatment costs, with a true-up to the annual invoice received from the Idaho Department of Environmental Quality (“IDEQ”). Using the actual costs in the annual invoice, the Company then reassesses its estimate for future periods. Given the nature, complexity and variability of the various actual cost items included in the invoice, the Company has used the most recent invoice as its estimate of the water treatment costs for future periods. Convertible loans, promissory notes and warrants Estimating the fair value of derivative warrant liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the warrants derivative liability, volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value of warrants derivative liability are disclosed in Notes 9 and 11. The fair value estimates of the convertible loans use inputs to the valuation model that include risk-free rates, equity value per common share, USD-CAD exchange rates, spot and futures prices of minerals, expected equity volatility, expected volatility in minerals prices, discount for lack of marketability, credit spread, expected mineral production over the life of the mine, and project risk/estimation risk factors. See Note 11 for full disclosures related to the convertible loans and promissory notes. The fair value estimates may differ from actual fair values and these differences may be significant and could have a material impact on the Company’s balance sheets and the consolidated statements of operations. Assets are reviewed for an indication of impairment at each reporting date. This determination requires significant judgment. Factors that could trigger an impairment review include, but are not limited to, significant negative industry or economic trends, interruptions in exploration activities or a significant drop in precious metal prices. Reclassifications Certain reclassifications have been made to conform prior year’s data to the current presentation. The reclassifications have no effect on the results of reported operations or stockholders’ deficit or cash flows. Concentrations of credit risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and restricted cash. The Company places its cash with financial institutions of high credit worthiness. At times, its cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management also routinely assesses the financial strength and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are limited. Risks and uncertainties The Company operates in the mineral resource exploration and mine development industry that is subject to significant risks and uncertainties, including financial, operational, and other risks associated with operating a mineral resource exploration business, including the potential risk of business failure. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Foreign currency transactions The Company from time to time will receive invoices from service providers that are presenting their invoices using the Canadian dollar. The Company will use its U.S. dollars to settle the Canadian dollar liabilities and any differences resulting from the exchange transaction are reported as gain or loss on foreign exchange. Convertible loans and promissory notes payable The Company reviews the terms of its convertible loans and promissory notes payable to determine whether there are embedded derivatives, including the embedded options, that are required to be bifurcated and accounted for as individual derivative financial instruments. In circumstances where the convertible loans or the promissory note contains embedded derivatives that are to be separated from the host contracts, the total proceeds received are first allocated to the fair value of the derivative financial instruments determined using the binomial model. The remaining proceeds, if any, are then allocated to the debenture cost contracts, usually resulting in those instruments being recorded at a discount from their principal amount. This discount is accreted over the expected life of the instruments to profit (loss) using the effective interest method. In circumstances where the convertible loans or the promissory note contains embedded derivatives that are not separated from the host contracts, the fair values of the host contract and the derivative are valued together, with the change in fair value accounted through earnings, profit and loss for each period reported. The debenture host contracts are subsequently recorded at amortized cost at each reporting date, using the effective interest method. The embedded derivatives are subsequently recorded at fair value at each reporting date, with changes in fair value recognized in profit (loss). The Company applies ASC 480 distinguishing liabilities from equity and ASC 815 derivatives and hedging in determining the appropriate accounting treatment for hybrid instruments. The embedded options within the convertible loans are not bifurcated and measured at fair value at each period end. Recent Accounting Pronouncements Accounting Standards Updates Adopted In August 2020, No. 2020 06 470 20 815 40 Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Accounts receivable and prepaid
Accounts receivable and prepaid expenses | 12 Months Ended |
Dec. 31, 2022 | |
Credit Loss [Abstract] | |
Accounts receivable and prepaid expenses | 4. Accounts receivable and prepaid expenses Accounts receivable and prepaid expenses consists of the following: Schedule of Accounts receivable and prepaid expenses December 31, December 31, 2022 2021 Prepaid expenses $ 386,218 $ 413,443 Environment protection agency overpayment (note 8) 170,729 - Total $ 556,947 $ 413,443 |
Equipment
Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Equipment | 5. Equipment Equipment consists of the following: Schedule of Equipment December 31, December 31, 2022 2021 Equipment $ 920,571 $ 603,972 Equipment, gross 920,571 603,972 Less accumulated depreciation (369,367 ) (207,078 ) Equipment, net $ 551,204 $ 396,894 The total depreciation expense during the year ended December 31, 2022, was $ 162,290 133,526 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 purchase was determined to be $ 3,974,296 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 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. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) At December 31, 2022, the asset consists of the following: Schedule of Plant Asset Consists December 31, 2022 Deposit paid $ 500,000 Sales tax paid 231,000 Value of shares issued 1,970,264 Value of warrants issued 1,273,032 Total plant & inventory purchased 3,974,296 Site preparation costs 2,296,266 Demobilization 2,201,414 Less spare parts inventory (341,004 ) Pend Oreille plant asset, net $ 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 December 31, 2022, the Company had not made the final payment of $ 475,000 |
Right-of-use asset
Right-of-use asset | 12 Months Ended |
Dec. 31, 2022 | |
Right-of-use Asset | |
Right-of-use asset | 6. Right-of-use asset Right-of-use asset consists of the following: Schedule of Right-of-use Asset December 31, December 31, 2022 2021 Office lease $ 319,133 319,133 Less accumulated depreciation (319,133 ) (266,780 ) Right-of-use asset, net $ - $ 52,353 The total depreciation expense during the year ended December 31, 2022 was $ 52,353 106,378 |
Mining Interests
Mining Interests | 12 Months Ended |
Dec. 31, 2022 | |
Extractive Industries [Abstract] | |
Mining Interests | 7. 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 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) The Amended Agreement also required payments pursuant to an agreement with the Environmental Protection Agency (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 Prior to the completion of the sale, the Company accrued $ 260,463 2,000,000 2,260,463 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 carrying cost of the Mine is comprised of the following: Schedule of Mining Interests December 31, 2022 Contract purchase price $ 7,700,000 Less: Credit by seller for prior maintenance payments (300,000 ) Net present value of water treatment cost recovery liability assumed (note 8) 6,402,425 Closing costs capitalized 2,638 Mine acquisition costs - legal 442,147 Carrying cost of mine – January 7, 2022 $ 14,247,210 Capitalized mining costs – 2022 1,447,435 Carrying cost of mine - total $ 15,694,645 Land Purchase On March 3, 2022, the Company purchased a 225-acre surface land parcel for $ 202,000 |
Environmental Protection Agency
Environmental Protection Agency | 12 Months Ended |
Dec. 31, 2022 | |
Environmental Remediation Obligations [Abstract] | |
Environmental Protection Agency | 8. Environmental Protection Agency Historical Cost Recovery Payables 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. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) 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 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 In addition to the changes in payment terms and schedule, the Amended Settlement included a commitment by the Company to secure $ 17,000,000 The Company completed the purchase of the Mine (see note 7) and made the initial $ 2,000,000 17,000,000 8,000,000 6,402,425 3,000,000 5,000,000 As of March 31, 2022, the financial assurance had not yet been secured, and as such the Company accounted for the $17,000,000 liabilities according to the previous payment schedule, resulting in $12,000,000 classified as a current liability and $5,000,000 as a long-term liability. The long-term portion was discounted at an interest rate of 16.5% to arrive at a net present value of $3,540,851 after discount ($3,402,425 as of the purchase of the mine plus $138,427 of accretion expense during the quarter ended March 31, 2022. During the quarter ended June 30, 2022, the Company was successful in obtaining the final financial assurance. Specifically, a $ 9,999,000 7,001,000 17,000,000 2,475,000 2,475,000 7,001,000 9,476,000 9,476,000 During the quarter ended December 31, 2022 the $ 7,001,000 2,000,001 5,000,000 2,000,000 20,000 3,000,000 3,000,000 9,476,000 6,476,000 Under ASC 470-50, Debt Modifications and Extinguishments, the Company performed a comparison of net present value of the pre-settlement Cost Recovery obligation to the post-settlement schedule of Cost Recovery obligation to determine this was an extinguishment of debt. The Company recorded a gain on extinguishment of debt totaling $ 8,614,103 . The old debt, including any discount, was written off and the new payment stream of the amended $ 17,000,000 table, including the new discount of $ 9,927,590 , using the effective interest rate of 19.95 %, was recorded to result in a net liability of $ 7,072,410 , which is due long-term. During the year ended December 31, 2022, the Company recorded combined discount amortization expense of $ 712,713 on the discounted pre- and post-extinguishment liability, and interest expense of $ 156,343 7,941,466 24,587 306,501 at December 31, 2021) is included in interest payable on the consolidated balance sheets. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Water Treatment Charges – EPA 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 had estimated water treatment payables to the EPA of $ nil 5,110,706 Water Treatment Charges – IDEQ For the year ended December 31, 2022, the Company made net payments of $ 1,400,000 140,000 280,000 170,729 |
Promissory notes payable and Co
Promissory notes payable and Convertible Debentures | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Promissory notes payable and Convertible Debentures | 9. Promissory notes payable and Convertible Debentures On September 22, 2021, the Company issued a non-convertible promissory note in the amount of $ 2,500,000 15 March 15, 2022 500,000 500,000 202,000 1,500,000 281,301 102,740 384,041 102,740 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 (RCD) 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 8,000,000 607,261 line of the consolidated statements of income (loss) and comprehensive income (loss) Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) $6,000,000 Series 1 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 179,046 line of the $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 (1) 01-28-22 07-07-23 7.50 % 0.230 120 % 8.70 % 0.92 % 16.18 % RCD note 01-07-22 07-07-23 9.00 % 0.242 130 % 9.21 % 0.65 % 16.39 % CD1 note (1) 03-31-22 07-07-23 7.50 % 0.235 120 % 8.85 % 1.80 % 17.12 % RCD note 03-31-22 07-07-23 9.00 % 0.235 120 % 8.85 % 1.80 % 17.12 % CD2 note(1) 06-17-22 03-31-25 10.50 % 0.185 120 % 9.45 % 3.28 % 20.95 % CD2 note(1) 06-30-22 03-31-25 10.50 % 0.150 120 % 10.71 % 2.95 % 21.78 % CD1 note 06-30-22 03-31-25 7.50 % 0.150 120 % 10.71 % 2.95 % 19.89 % RCD note 06-30-22 03-31-25 9.00 % 0.150 120 % 10.71 % 2.95 % 19.89 % CD1 note 09-30-22 03-31-25 7.50 % 0.085 120 % 13.31 % 4.19 % 23.35 % RCD note 09-30-22 03-31-25 9.00 % 0.085 120 % 13.31 % 4.19 % 23.35 % CD2 note 09-30-22 03-31-25 10.50 % 0.085 120 % 13.31 % 4.19 % 25.21 % CD1 note(3) 12-31-22 03-31-25 7.50 % 0.125 120 % 7.08 % 4.32 % 17.85 % RCD note 12-31-22 03-31-25 9.00 % 0.125 120 % 7.08 % 4.32 % 17.85 % CD2 note(3) 12-31-22 03-31-25 10.50 % 0.125 120 % 7.08 % 4.32 % 19.76 % (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 98 6.71 4.36 17.55 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) The resulting fair values of the CD1, RCD, and CD2 at the issuance dates, and as of December 31, 2022, were as follows: Schedule of Fair Value Derivative Liability Instrument Description Issuance date CD1 RCD, CD2 December 31, 2022 CD1 $ 6,320,807 $ 5,537,360 RCD 7,679,193 10,285,777 CD2 15,000,000 14,063,525 Total $ 29,000,000 $ 29,886,662 The total loss on fair value of debentures recognized during the year ended December 31, 2022 and December 31, 2021, was $ 1,140,537 nil 253,875 nil 2,092,065 nil 691,890 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 December 31, 2022. The Loan Facility 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% 70,404 nil 53,985 nil The Stream A minimum of $ 27,000,000 37,000,000 If the Company draws the maximum funding of $ 37,000,000 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Concurrent with the funding of the CD2 in June 2022, the Company and SRSR agreed that the minimum quantity of metal delivered under the Stream, if advanced, will increase by 10% relative to the amounts noted above. Other Interest During the year ended December 31, 2022 and December the Company recognized $ 72,304 nil |
Lease liability
Lease liability | 12 Months Ended |
Dec. 31, 2022 | |
Lease Liability | |
Lease liability | 10. Lease liability The Company had an operating lease for office space that expired in 2022. Below is a summary of the Company’s lease liability as of December 31, 2022: Schedule of Operating Lease Liability Office lease Balance, December 31, 2020 $ 176,607 Addition - Interest expense 12,696 Lease payments (129,191 ) Foreign exchange loss 2,165 Balance, December 31, 2021 62,277 Addition - Interest expense 1,834 Lease payments (64,828 ) Foreign exchange loss 717 Balance, December 31, 2022 - |
Capital stock, warrants and sto
Capital stock, warrants and stock options | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Capital stock, warrants and stock options | 11. 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 February 2021, the Company closed a non-brokered private placement of units of the Company (the “February 2021 Offering”), issuing 19,576,360 0.40 6,168,069 7,830,544 0.60 five years 154,630 351,000 0.40 The Company also issued 417,720 132,000 0.45 56,146 In April 2022, the Company closed a private placement of 37,849,325 1,471,664 9,384,622 11,796,297 4,809,160 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) The Special Warrants were issued at a price of C$ 0.30 0.37 On May 31, 2022, the Company announced that it had received a receipt from the Ontario Securities Commission for its final short-form Canadian prospectus qualifying the distribution of the common stock of the Company and common stock purchase warrants of the Company issuable upon exercise of the special warrants of the Company that were issued on April 1, 2022. The Company also announced that it received notice from the United States Securities and Exchange Commission that its Form S-1 has been declared effective as of May 27, 2022. As a result of obtaining the receipt for the Canadian prospectus and the declaration of effectiveness for the Form S-1, each unexercised Special Warrant was automatically exercised into one Common Share and one Warrant without further action on the part of the holders. The non-brokered 1,471,664 0.30 0.37 In connection with the special warrants offering, the agents earned a cash commission in the amount of C$ 563,968 1,879,892 0.30 0.37 In April 2022, the Company issued 1,315,856 In April 2022, the Company issued 768,750 In May 2022, the Company issued 10,416,667 0.245 0.37 In June 2022, the Company issued 1,218,000 0.37 In June 2022, the Company issued 165,000 In July 2022, the Company issued 1,975,482 In September 2022, the Company issued 33,000 In October 2022, the Company issued 8,252,940 In November 2022, the Company issued 1,599,150 For each financing, the Company has accounted for the warrants in accordance with ASC Topic 815 Derivatives and Hedging. 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 consolidated statement of operations and comprehensive loss as a gain or loss in the change in derivative liability line item Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) 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 on the day of issuance and as at December 31, 2022 and December 31, 2021: Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities April 2022 special warrants issuance December 31, 2022 April 1, 2022 Expected life 822 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.35 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.29 Fair value $ 2,406,104 $ 5,947,232 Change in derivative liability $ (3,541,128 ) $ - April 2022 non-brokered issuance December 31, 2022 April 1, 2022 Expected life 822 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.35 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.29 Fair value $ 93,553 $ 186,190 Change in derivative liability $ (92,637 ) $ - May 2022 Teck issuance December 31, 2022 May 13, 2022 Expected life 864 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.68 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.25 Fair value $ 684,497 $ 1,273,032 Change in derivative liability $ (588,535 ) $ - June 2022 issuance December 31, 2022 June 30, 2022 Expected life 822 1,006 Volatility 120 % 120 % Risk free interest rate 3.72 % 3.14 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.20 Fair value $ 77,429 $ 113,425 Change in derivative liability $ (35,996 ) $ - February 2021 issuance December 31, 2022 December 31, 2021 Expected life 1,136 1,501 Volatility 120 % 100 % Risk free interest rate 3.72 % 1.25 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 1,335,990 $ 3,483,745 Change in derivative liability $ (2,147,756 ) $ - The warrant liabilities as a result of the August 2018, November 2018, June 2019, August 2019, and August 2020 private placements were revalued as at December 31, 2022 and December 31, 2021 using the Binomial model and the following assumptions: August 2020 issuance December 31, 2022 December 31, 2021 Expected life 243 608 Volatility 120 % 100 % Risk free interest rate 4.06 % 0.95 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 903,697 $ 6,790,163 Change in derivative liability $ (5,886,466 ) $ - Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) June 2019 issuance (i) December 31, 2022 December 31, 2021 Expected life 1,096 1,461 Volatility 120 % 100 % Risk free interest rate 3.82 % 1.02 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 725,737 $ 2,067,493 Change in derivative liability $ (1,341,756 ) $ - (i) During the six months ended December 31, 2020, the Company amended the exercise price to C$ 0.59 per common share and extended the expiry date to December 31, 2025 for 11,660,000 warrants. August 2019 issuance (ii) December 31, 2022 December 31, 2021 Expected life 1,096 1,461 Volatility 120 % 100 % Risk free interest rate 3.82 % 1.02 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 1,115,369 $ 3,177,485 Change in derivative liability $ (2,062,116 ) $ - (ii) During the six months ended December 31, 2020, the Company amended the exercise price to C$ 0.59 December 31, 2025 17,920,000 2,752,900 Warrants Schedule of Warrant Activity Weighted Weighted average average Number of exercise price grant date warrants (C$) value ($) Balance, December 31, 2020 95,777,806 $ 0.54 $ 0.18 Issued 19,994,080 0.60 0.19 Expired (4,359,174 ) 0.59 0.19 Balance, December 31, 2021 111,412,712 $ 0.54 $ 0.18 Issued 50,955,636 0.37 0.15 Expired (239,284 ) 0.70 0.21 Balance, December 31, 2022 162,129,064 $ 0.49 $ 0.17 During the year ended December 31, 2022, 239,284 At December 31, 2022, the following warrants were outstanding: Schedule of Warrants Outstanding Exercise Price Exercise Number of Number of warrants Expiry date price (C$) warrants exercisable August 31, 2023 0.50 58,284,148 58,284,148 December 31, 2025 0.59 32,895,200 32,895,200 February 9, 2026 0.60 17,112,500 17,112,500 February 16, 2026 0.60 2,881,580 2,881,580 April 1, 2025 0.37 40,538,969 40,538,969 May 13, 2025 0.37 10,416,667 10,416,667 162,129,064 162,129,064 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Compensation options At December 31, 2022, the following compensation options were outstanding: Schedule of Compensation Options Weighted Number of average broker exercise price options (C$) Issued - August 2020 Compensation Options 3,239,907 $ 0.35 Balance, December 31, 2020 3,239,907 $ 0.35 Issued – February 2021 Compensation Options 351,000 0.40 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 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 August 2020 0.31 % 0 % 100 % C$ 0.35 3 February 2021 0.26 % 0 % 100 % C$ 0.40 3 April 1, 2022 2.34 % 0 % 120 % C$ 0.30 2 Schedule of Broker Exercise Prices Exercise Number of 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 5,470,799 $ 854,506 (i) Exercisable into one August 2020 Unit (ii) Exercisable into one February 2021 Unit (iii) Exercisable into one April 2022 Unit Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) Stock options The following table summarizes the stock option activity during the years ended December 31, 2022 and 2021: Schedule of Stock Options Weighted average Number of exercise price stock options (C$) Balance, December 31, 2020 8,015,159 $ 0.62 Granted (i) 1,037,977 0.34 Balance, December 31, 2021 9,053,136 $ 0.58 Granted (ii) 700,000 0.15 Expired May 1, 2022 (47,500 ) 10.00 Forfeited November 25, 2022 (150,000 ) 0.15 Expired December 31, 2022 (235,500 ) 0.50 Balance, December 31, 2022 9,320,636 $ 0.51 (i) On February 19, 2021, 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 (ii) On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 (iii) On November 23, 2022, 400,000 200,000 5 0.15 37,387 20,191 The fair value of these stock options was determined on the date of grant using the Black-Scholes valuation model, and using the following underlying assumptions: Schedule of Estimated Using Black-Scholes Valuation Model for Fair value of Stock Options Risk free interest rate Dividend yield Volatility Stock price Weighted average life (i) 0.64 % 0 % 100 % C$ 0.34 5 (ii) 3.27 % 0 % 120 % C$ 0.15 5 (iii) 3.22 % 0 % 120 % C$ 0.15 5 The following table reflects the actual stock options issued and outstanding as of December 31, 2022: 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 0.75 200,000 200,000 52,909 0.60 1.82 1,575,000 1,575,000 435,069 0.55 2.30 5,957,659 2,978,830 1,536,764 0.335 3.14 1,037,977 1,037,977 204,213 0.15 0.90 150,000 150,000 14,465 0.15 4.90 400,000 200,000 37,387 9,320,636 6,141,807 $ 2,280,807 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Income per Share
Income per Share | 12 Months Ended |
Dec. 31, 2022 | |
Net Income (loss) per common share | |
Income per Share | 12. Income per Share Potentially dilutive securities include convertible loan payable, warrants, broker options, stock options, and unvested restricted share units (“RSU”). Diluted income per share reflects the assumed exercise or conversion of all dilutive securities using the treasury stock method. Schedule of Income Per Share Year ended December 31, 2022 Year ended December 31, 2021 Net income (loss) for the period 898,591 (6,402,277 ) Basic income (loss) per share Weighted average number of common shares - basic 205,950,811 161,868,334 Net income (loss) per share – basic 0.00 (0.04 ) Net income (loss) for the period 898,591 (6,402,277 ) Dilutive effect of convertible debentures (370,121 ) - Dilutive effect of warrants on net income - - Diluted net income (loss) for the period 528,470 (6,402,277 ) Diluted income (loss) per share 205,950,811 161,868,334 Weighted average number of common shares - basic Diluted effect: Stock options and RSUs 63,850,470 - Weighted average number of common shares - fully diluted 269,801,281 161,868,334 Net income (loss) per share - fully diluted 0.00 (0.04 ) |
Restricted share units
Restricted share units | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Restricted share units | 13. 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 year ended December 31, 2022: Schedule of Restricted Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2020 988,990 $ 0.39 Granted 1,348,434 0.38 Vested (1,516,299 ) 0.41 Forfeited (245,125 ) 0.52 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 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) (i) On January 1, 2021, the Company granted 735,383 245,128 490,258 245,125 64,870 nil 199,542 (ii) On July 1, 2021, the Company granted 17,823 nil 4,026 (iii) On August 5, 2021, the Company granted 595,228 nil 100,022 (iv) On January 10, 2022, the Company granted 500,000 122,249 (v) On April 29, 2022, the Company granted 76,750 16,800 (vi) On June 30, 2022, the Company granted 15,000 2,328 (vii) On September 29, 2022 the Company granted 33,000 2,889 (viii) On October 31, 2022 the Company granted 1,599,150 111,304 (ix) On November 17, 2022 the Company granted 4,396,741 79,504 |
Deferred share units
Deferred share units | 12 Months Ended |
Dec. 31, 2022 | |
Deferred Share Units | |
Deferred share units | 14. 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. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) The following table summarizes the DSU activity during the years ended December 31, 2022 and 2021: Schedule of Deferred Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2020 7,500,000 $ 1.03 Vested (1,875,000 ) 1.03 Unvested as at December 31, 2021 5,625,000 $ 1.03 Granted (i) 210,000 0.20 Vested (ii)(iii) (3,125,000 ) 1.03 Unvested as at December 31, 2022 2,710,000 $ 1.00 (i) On April 21, 2020, the Company granted 7,500,000 5 210,000 12 282,967 421,284 2,500,000 573,742 (ii) On March 31, 2022, the Board approved the early vesting of 625,000 (iii) During the year ended December 31, 2022, the director redeemed 2,500,000 750,000 375,000 0.30 |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 15. Commitments and contingencies As stipulated in the agreement with the EPA and as described in Note 7, 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. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income taxes | 16. Income taxes As at December 31, 2022, and December 31, 2021, the Company had no accrued interest and penalties related to uncertain tax positions. The income tax provision differs from the amount of income tax determined by applying the U.S. federal tax rate of 21.0 21.0 Schedule of Income Tax Provision Year Year Ended Ended December 31, December 31, 2022 2021 Income (loss) before income taxes $ 898,591 $ (6,402,277 ) Expected income tax recovery 188,704 (1,344,478 ) Change in estimates in respect of prior periods (41,351 ) 837,195 Change in tax rate 133,687 274,477 Change in fair value of derivative liability (3,296,242 ) (2,583,095 ) State and local taxes, net of federal benefit (709,272 ) (960,296 ) Other 308 5,033 Change in valuation allowance 3,724,166 3,771,164 Total $ - $ - Deferred tax assets and the valuation account are as follows: Schedule of Deferred Tax Assets December 31, December 31, 2022 2021 Deferred tax asset: Net operating loss carryforwards $ 10,291,114 $ 6,724,313 Mineral interest purchase option - 10,707,362 Mining interests 8,391,938 - EPA liabilities 2,068,062 - Other deferred tax assets 851,563 454,499 Valuation allowance (21,602,677 ) (17,886,174 ) Total $ - $ - Schedule of Components of Deferred Tax Assets and Liabilities December 31, December 31, 2022 2021 Deferred tax asset: Net operating loss carryforwards $ 101,662 $ 59,955 Deferred tax liabilities: Equipment - (18,809 ) Unrealized foreign exchange gain (101,662 ) (41,146 ) Net deferred tax asset $ - $ - The potential income tax benefit of these losses has been offset by a full valuation allowance. As of December 31, 2022 and December 31, 2021, the Company has an unused net operating loss carryforward balance of $ 40,227,950 26,356,908 The net operating loss carryforwards generated before 2018 expire between 2031 and 2037. The losses generated in 2018 and later tax years do not expire. The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2022 and December 31, 2021 and years 2020, 2019, 2018, 2017, 2016, and 2015. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related party transactions | 17. 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 Year Year December 31, December 31, 2022 2021 Consulting fees, wages and bonus $ 1,429,326 $ 901,210 At December 31, 2022 and December 31, 2021, $ 154,797 279,554 (i) During the year ended December 31, 2022, Wayne Parsons (Director and former CFO) billed $ 147,287 120,127 2,500,000 582,027 (ii) During the year ended December 31, 2022, Richard Williams (Director and Executive Chairman) billed $ 372,084 179,605 135,600 108,719 During the year ended December 31, 2022, 1,110,756 20,085 (iii) During the year ended December 31, 2022, the Company incurred $ 438,600 250,000 nil 62,500 During the year ended December 31, 2022, 1,249,600 22,596 (iv) During the year ended December 31, 2022, Pam Saxton (Director) billed $ 36,133 37,669 (v) During the year ended December 31, 2022, Cassandra Joseph (Director) billed $ 36,133 37,494 (vi) During the year ended December 31, 2022, Mark Cruise (Director) billed $ 15,774 210,000 (vii) During the year ended December 31, 2022, the Company incurred $ 383,315 276,315 19,197 108,335 During the year ended December 31, 2022, 1,018,193 18,411 During the year ended December 31, 2021, 1,037,977 273,271 764,706 5 0.335 204,213 204,213 Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent events | 18. Subsequent events Share Issuance On January 10, 2023, the Company issued 6,377,272 On March 31, 2023, the Company issued 8,464,288 Corporate Update On February 28, 2023, the Company reported that it had temporarily paused discretionary projects and procurement activities until the completion of its financing initiatives. Primarily due to the inability to procure certain long-lead items that were planned to be ordered by February 2023, and longer estimated delivery times thereof, the Company now expects the Bunker Hill Mine restart to be achieved in 2024. Teck Warrant Amendment On March 15, 2023, the Company amended the exercise price of 10,416,667 0.37 0.37 0.11 10,416,667 0.11 1,145,834 Termination of Prospectus Offering and Private Placement On February 15, 2023, the Company reported that it intended to terminate its previously announced prospectus offering of Common Shares following its determination that effectiveness of a registration statement on Form S-1 would not be achievable in a time frame consistent with its capital requirements. Concurrently, the Company announced that it had entered into an agreement with a syndicate of agents in connection with a proposed private placement of up to C$ 9 On March 28, 2023, the Company announced the closing of its private placement of the Special Warrants by issuing 51,633,727 0.12 6,196,047.26 0.15 211,461.38 2,070,258 0.15 |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of consolidation | Basis of consolidation These consolidated financial statements include the assets, liabilities and expenses of the Company and its wholly owned subsidiary, Silver Valley Metals Corp. (formerly American Zinc Corp.). All intercompany transactions and balances have been eliminated on consolidation. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents may include highly liquid investments with original maturities of three months or less. |
Mineral rights, property and acquisition costs | Mineral rights, property and acquisition costs The Company transitioned from the exploration stage to the development stage at the beginning of the fourth quarter of 2022. The Company has not yet realized any revenues from its planned operations. The Company capitalizes acquisition and option costs of mineral rights as intangible assets when there is sufficient evidence to support probability of generating positive economic returns in the future. Upon commencement of commercial production, the mineral rights will be amortized using the unit-of-production method over the life of the mineral rights. If the Company does not continue with exploration after the completion of the feasibility study, the mineral rights will be expensed at that time. The costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred to develop and expand the capacity of mines, or to develop mine areas in advance of production, are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current exploration or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (FASB ASC) 360-10-35, Impairment or Disposal of Long-Lived Assets. |
Equipment | Equipment Equipment is stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from 3 10 The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of equipment or whether the remaining balance of the equipment should be evaluated for possible impairment. If events and circumstances warrant evaluation, the Company uses an estimate of the related undiscounted cash flows over the remaining life of the equipment in measuring their recoverability. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Leases | Leases Operating lease right of use (“ROU”) assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in operation and administration expenses in the consolidated statements of Income (loss) and comprehensive Income (loss). The Company is required to make additional payments for certain variable costs. These costs are expensed and included in operation and administration expenses in the consolidated statements of loss and comprehensive loss. Rental income obtained through subleases is recorded as income over the lease term and is offset against operation and administration expenses. |
Impairment of long-lived assets | Impairment of long-lived assets The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under FASB ASC 360, Property, Plant and Equipment, if events or circumstances indicate that their carrying amount might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis is performed using the rules of FASB ASC 930-360-35, Extractive Activities – Mining, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets. Various factors could impact the Company’s ability to achieve forecasted production schedules. Additionally, commodity prices, capital expenditure requirements and reclamation costs could differ from the assumptions the Company may use in future production cash flow models when compared to factors used to assess impairment. The ability to achieve the estimated quantities of recoverable minerals from development stage mineral interests involves further risks in addition to those factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineralized material can ultimately be mined economically. |
Fair value of financial instruments | Fair value of financial instruments The Company adopted FASB ASC 820-10, Fair Value Measurement. This guidance defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the consolidated balance sheets for cash, restricted cash, accounts receivable excluding HST, accounts payable, accrued liabilities, interest payable, promissory notes payable, environmental protection agency water treatment payable, environmental protection agency cost recovery payable, and lease liability, all of which qualify as financial instruments, are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and current market rate of interest. The carrying amounts of convertible loans are reported at estimated fair values as a result of the application of fair value models at each quarter end. The Company measured its DSU liability at fair value on recurring basis using level 1 inputs. Derivative warrant liabilities and convertible debentures are measured at fair value on recurring basis using level 3 inputs. |
Environmental expenditures | Environmental expenditures The operations of the Company have been, and may in the future be, affected from time to time, in varying degrees, by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company’s policy is to meet, or if possible, surpass standards set by relevant legislation, by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are expensed as incurred or capitalized and amortized depending on their future economic benefits. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Income taxes | Income taxes The Company accounts for income taxes in accordance with Accounting Standard Codification 740, Income Taxes (“FASB ASC 740”), on a tax jurisdictional basis. The Company files income tax returns in the United States. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and the consolidated financial statements reported amounts using enacted tax rates and laws in effect in the year in which the differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is determined to be more likely than not that the deferred tax asset will not be realized. The Company assesses the likelihood of the consolidated financial statements effect of a tax position that should be recognized when it is more likely than not that the position will be sustained upon examination by a taxing authority based on the technical merits of the tax position, circumstances, and information available as of the reporting date. The Company is subject to examination by taxing authorities in jurisdictions such as the United States. Management does not believe that there are any uncertain tax positions that would result in an asset or liability for taxes being recognized in the accompanying consolidated financial statements. The Company recognizes tax-related interest and penalties, if any, as a component of income tax expense. FSAB ASC 740 prescribes recognition threshold and measurement attributes for the consolidated financial statements recognition and measurement of a tax position taken, or expected to be taken, in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in periods, disclosure and transition. At December 31, 2022, December 31, 2021, the Company has not taken any tax positions that would require disclosure under FASB ASC 740. |
Basic and diluted net income (loss) per share | Basic and diluted net income (loss) per share The Company computes net income (loss) per share in accordance with FASB ASC 260, Earnings per Share (“FASB ASC 260”). Under the provisions of FASB ASC 260, basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, RSU’s, warrants and the conversion of convertible loan payable. As of December 31, 2022, 9,005,636 162,129,064 5,470,799 9,053,136 111,412,712 3,590,907 |
Stock-based compensation | Stock-based compensation In December 2004, FASB issued FASB ASC 718, Compensation – Stock Compensation (“FASB ASC 718”), which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments. FASB ASC 718 focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions. FASB ASC 718 requires that the compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. That cost will be measured based on the fair value of the equity or liability instruments issued. The Company accounts for stock-based compensation arrangements with non-employees in accordance with ASU 505-50, Equity-Based Payments to Non-Employees, which requires that such equity instruments are recorded at the value on the grant date based on fair value of the equity or goods and services whichever is more reliable. |
Restricted share units (“RSUs”) | Restricted share units (“RSUs”) The Company estimates the grant date fair value of RSUs using the Company’s common shares at the grant date. The Company records the value of the RSUs in paid-in capital. |
Deferred share units (“DSUs”) | Deferred share units (“DSUs”) The Company estimates the grant date fair value of the DSUs using the trading price of the Company’s common shares on the day of grant. The Company records the value of the DSUs owing to its directors as DSU liability and measures the DSU liability at fair value at each reporting date, with changes in fair value recognized as stock-based compensation in profit (loss). Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) |
Use of estimates and assumptions | Use of estimates and assumptions Many of the amounts included in the consolidated financial statements require management to make judgments and/or estimates. These judgments and estimates are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. Actual results may differ from the amounts included in the consolidated financial statements. Areas of significant judgment and estimates affecting the amounts recognized in the consolidated financial statements include: Going concern The assessment of the Company’s ability to continue as a going concern involves judgment regarding future funding available for its operations and working capital requirements as discussed in note 1. Accrued liabilities The Company has to make estimates to accrue for certain expenditures due to delay in receipt of third-party vendor invoices. These accruals are made based on trends, history and knowledge of activities. Actual results may be different. The Company makes monthly estimates of its water treatment costs, with a true-up to the annual invoice received from the Idaho Department of Environmental Quality (“IDEQ”). Using the actual costs in the annual invoice, the Company then reassesses its estimate for future periods. Given the nature, complexity and variability of the various actual cost items included in the invoice, the Company has used the most recent invoice as its estimate of the water treatment costs for future periods. Convertible loans, promissory notes and warrants Estimating the fair value of derivative warrant liability requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the issuance. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the warrants derivative liability, volatility and dividend yield and making assumptions about them. The assumptions and models used for estimating fair value of warrants derivative liability are disclosed in Notes 9 and 11. The fair value estimates of the convertible loans use inputs to the valuation model that include risk-free rates, equity value per common share, USD-CAD exchange rates, spot and futures prices of minerals, expected equity volatility, expected volatility in minerals prices, discount for lack of marketability, credit spread, expected mineral production over the life of the mine, and project risk/estimation risk factors. See Note 11 for full disclosures related to the convertible loans and promissory notes. The fair value estimates may differ from actual fair values and these differences may be significant and could have a material impact on the Company’s balance sheets and the consolidated statements of operations. Assets are reviewed for an indication of impairment at each reporting date. This determination requires significant judgment. Factors that could trigger an impairment review include, but are not limited to, significant negative industry or economic trends, interruptions in exploration activities or a significant drop in precious metal prices. |
Reclassifications | Reclassifications Certain reclassifications have been made to conform prior year’s data to the current presentation. The reclassifications have no effect on the results of reported operations or stockholders’ deficit or cash flows. |
Concentrations of credit risk | Concentrations of credit risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and restricted cash. The Company places its cash with financial institutions of high credit worthiness. At times, its cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management also routinely assesses the financial strength and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are limited. |
Risks and uncertainties | Risks and uncertainties The Company operates in the mineral resource exploration and mine development industry that is subject to significant risks and uncertainties, including financial, operational, and other risks associated with operating a mineral resource exploration business, including the potential risk of business failure. |
Foreign currency transactions | Foreign currency transactions The Company from time to time will receive invoices from service providers that are presenting their invoices using the Canadian dollar. The Company will use its U.S. dollars to settle the Canadian dollar liabilities and any differences resulting from the exchange transaction are reported as gain or loss on foreign exchange. |
Convertible loans and promissory notes payable | Convertible loans and promissory notes payable The Company reviews the terms of its convertible loans and promissory notes payable to determine whether there are embedded derivatives, including the embedded options, that are required to be bifurcated and accounted for as individual derivative financial instruments. In circumstances where the convertible loans or the promissory note contains embedded derivatives that are to be separated from the host contracts, the total proceeds received are first allocated to the fair value of the derivative financial instruments determined using the binomial model. The remaining proceeds, if any, are then allocated to the debenture cost contracts, usually resulting in those instruments being recorded at a discount from their principal amount. This discount is accreted over the expected life of the instruments to profit (loss) using the effective interest method. In circumstances where the convertible loans or the promissory note contains embedded derivatives that are not separated from the host contracts, the fair values of the host contract and the derivative are valued together, with the change in fair value accounted through earnings, profit and loss for each period reported. The debenture host contracts are subsequently recorded at amortized cost at each reporting date, using the effective interest method. The embedded derivatives are subsequently recorded at fair value at each reporting date, with changes in fair value recognized in profit (loss). The Company applies ASC 480 distinguishing liabilities from equity and ASC 815 derivatives and hedging in determining the appropriate accounting treatment for hybrid instruments. The embedded options within the convertible loans are not bifurcated and measured at fair value at each period end. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting Standards Updates Adopted In August 2020, No. 2020 06 470 20 815 40 Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. |
Accounts receivable and prepa_2
Accounts receivable and prepaid expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 December 31, December 31, 2022 2021 Prepaid expenses $ 386,218 $ 413,443 Environment protection agency overpayment (note 8) 170,729 - Total $ 556,947 $ 413,443 |
Equipment (Tables)
Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Equipment | Equipment consists of the following: Schedule of Equipment December 31, December 31, 2022 2021 Equipment $ 920,571 $ 603,972 Equipment, gross 920,571 603,972 Less accumulated depreciation (369,367 ) (207,078 ) Equipment, net $ 551,204 $ 396,894 |
Schedule of Plant Asset Consists | At December 31, 2022, the asset consists of the following: Schedule of Plant Asset Consists December 31, 2022 Deposit paid $ 500,000 Sales tax paid 231,000 Value of shares issued 1,970,264 Value of warrants issued 1,273,032 Total plant & inventory purchased 3,974,296 Site preparation costs 2,296,266 Demobilization 2,201,414 Less spare parts inventory (341,004 ) Pend Oreille plant asset, net $ 8,130,972 |
Right-of-use asset (Tables)
Right-of-use asset (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Right-of-use Asset | |
Schedule of Right-of-use Asset | Right-of-use asset consists of the following: Schedule of Right-of-use Asset December 31, December 31, 2022 2021 Office lease $ 319,133 319,133 Less accumulated depreciation (319,133 ) (266,780 ) Right-of-use asset, net $ - $ 52,353 |
Mining Interests (Tables)
Mining Interests (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Extractive Industries [Abstract] | |
Schedule of Mining Interests | Schedule of Mining Interests December 31, 2022 Contract purchase price $ 7,700,000 Less: Credit by seller for prior maintenance payments (300,000 ) Net present value of water treatment cost recovery liability assumed (note 8) 6,402,425 Closing costs capitalized 2,638 Mine acquisition costs - legal 442,147 Carrying cost of mine – January 7, 2022 $ 14,247,210 Capitalized mining costs – 2022 1,447,435 Carrying cost of mine - total $ 15,694,645 |
Environmental Protection Agen_2
Environmental Protection Agency (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 |
Promissory notes payable and _2
Promissory notes payable and Convertible Debentures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 (1) 01-28-22 07-07-23 7.50 % 0.230 120 % 8.70 % 0.92 % 16.18 % RCD note 01-07-22 07-07-23 9.00 % 0.242 130 % 9.21 % 0.65 % 16.39 % CD1 note (1) 03-31-22 07-07-23 7.50 % 0.235 120 % 8.85 % 1.80 % 17.12 % RCD note 03-31-22 07-07-23 9.00 % 0.235 120 % 8.85 % 1.80 % 17.12 % CD2 note(1) 06-17-22 03-31-25 10.50 % 0.185 120 % 9.45 % 3.28 % 20.95 % CD2 note(1) 06-30-22 03-31-25 10.50 % 0.150 120 % 10.71 % 2.95 % 21.78 % CD1 note 06-30-22 03-31-25 7.50 % 0.150 120 % 10.71 % 2.95 % 19.89 % RCD note 06-30-22 03-31-25 9.00 % 0.150 120 % 10.71 % 2.95 % 19.89 % CD1 note 09-30-22 03-31-25 7.50 % 0.085 120 % 13.31 % 4.19 % 23.35 % RCD note 09-30-22 03-31-25 9.00 % 0.085 120 % 13.31 % 4.19 % 23.35 % CD2 note 09-30-22 03-31-25 10.50 % 0.085 120 % 13.31 % 4.19 % 25.21 % CD1 note(3) 12-31-22 03-31-25 7.50 % 0.125 120 % 7.08 % 4.32 % 17.85 % RCD note 12-31-22 03-31-25 9.00 % 0.125 120 % 7.08 % 4.32 % 17.85 % CD2 note(3) 12-31-22 03-31-25 10.50 % 0.125 120 % 7.08 % 4.32 % 19.76 % (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 98 6.71 4.36 17.55 |
Schedule of Fair Value Derivative Liability | The resulting fair values of the CD1, RCD, and CD2 at the issuance dates, and as of December 31, 2022, were as follows: Schedule of Fair Value Derivative Liability Instrument Description Issuance date CD1 RCD, CD2 December 31, 2022 CD1 $ 6,320,807 $ 5,537,360 RCD 7,679,193 10,285,777 CD2 15,000,000 14,063,525 Total $ 29,000,000 $ 29,886,662 |
Lease liability (Tables)
Lease liability (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Lease Liability | |
Schedule of Operating Lease Liability | The Company had an operating lease for office space that expired in 2022. Below is a summary of the Company’s lease liability as of December 31, 2022: Schedule of Operating Lease Liability Office lease Balance, December 31, 2020 $ 176,607 Addition - Interest expense 12,696 Lease payments (129,191 ) Foreign exchange loss 2,165 Balance, December 31, 2021 62,277 Addition - Interest expense 1,834 Lease payments (64,828 ) Foreign exchange loss 717 Balance, December 31, 2022 - |
Capital stock, warrants and s_2
Capital stock, warrants and stock options (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 on the day of issuance and as at December 31, 2022 and December 31, 2021: Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities April 2022 special warrants issuance December 31, 2022 April 1, 2022 Expected life 822 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.35 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.29 Fair value $ 2,406,104 $ 5,947,232 Change in derivative liability $ (3,541,128 ) $ - April 2022 non-brokered issuance December 31, 2022 April 1, 2022 Expected life 822 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.35 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.29 Fair value $ 93,553 $ 186,190 Change in derivative liability $ (92,637 ) $ - May 2022 Teck issuance December 31, 2022 May 13, 2022 Expected life 864 1,096 Volatility 120 % 120 % Risk free interest rate 4.06 % 2.68 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.25 Fair value $ 684,497 $ 1,273,032 Change in derivative liability $ (588,535 ) $ - June 2022 issuance December 31, 2022 June 30, 2022 Expected life 822 1,006 Volatility 120 % 120 % Risk free interest rate 3.72 % 3.14 % Dividend yield 0 % 0 % Share price (C$) $ 0.17 $ 0.20 Fair value $ 77,429 $ 113,425 Change in derivative liability $ (35,996 ) $ - February 2021 issuance December 31, 2022 December 31, 2021 Expected life 1,136 1,501 Volatility 120 % 100 % Risk free interest rate 3.72 % 1.25 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 1,335,990 $ 3,483,745 Change in derivative liability $ (2,147,756 ) $ - The warrant liabilities as a result of the August 2018, November 2018, June 2019, August 2019, and August 2020 private placements were revalued as at December 31, 2022 and December 31, 2021 using the Binomial model and the following assumptions: August 2020 issuance December 31, 2022 December 31, 2021 Expected life 243 608 Volatility 120 % 100 % Risk free interest rate 4.06 % 0.95 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 903,697 $ 6,790,163 Change in derivative liability $ (5,886,466 ) $ - Bunker Hill Mining Corp. Notes to Consolidated Financial Statements Years Ended December 31, 2022 and December 31, 2021 (Expressed in United States Dollars) June 2019 issuance (i) December 31, 2022 December 31, 2021 Expected life 1,096 1,461 Volatility 120 % 100 % Risk free interest rate 3.82 % 1.02 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 725,737 $ 2,067,493 Change in derivative liability $ (1,341,756 ) $ - (i) During the six months ended December 31, 2020, the Company amended the exercise price to C$ 0.59 per common share and extended the expiry date to December 31, 2025 for 11,660,000 warrants. August 2019 issuance (ii) December 31, 2022 December 31, 2021 Expected life 1,096 1,461 Volatility 120 % 100 % Risk free interest rate 3.82 % 1.02 % Dividend yield 0 % 0 % Share price $ 0.17 $ 0.37 Fair value $ 1,115,369 $ 3,177,485 Change in derivative liability $ (2,062,116 ) $ - (ii) During the six months ended December 31, 2020, the Company amended the exercise price to C$ 0.59 December 31, 2025 17,920,000 2,752,900 |
Schedule of Warrant Activity | Schedule of Warrant Activity Weighted Weighted average average Number of exercise price grant date warrants (C$) value ($) Balance, December 31, 2020 95,777,806 $ 0.54 $ 0.18 Issued 19,994,080 0.60 0.19 Expired (4,359,174 ) 0.59 0.19 Balance, December 31, 2021 111,412,712 $ 0.54 $ 0.18 Issued 50,955,636 0.37 0.15 Expired (239,284 ) 0.70 0.21 Balance, December 31, 2022 162,129,064 $ 0.49 $ 0.17 |
Schedule of Warrants Outstanding Exercise Price | At December 31, 2022, the following warrants were outstanding: Schedule of Warrants Outstanding Exercise Price Exercise Number of Number of warrants Expiry date price (C$) warrants exercisable August 31, 2023 0.50 58,284,148 58,284,148 December 31, 2025 0.59 32,895,200 32,895,200 February 9, 2026 0.60 17,112,500 17,112,500 February 16, 2026 0.60 2,881,580 2,881,580 April 1, 2025 0.37 40,538,969 40,538,969 May 13, 2025 0.37 10,416,667 10,416,667 162,129,064 162,129,064 |
Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options | At December 31, 2022, the following compensation options were outstanding: Schedule of Compensation Options Weighted Number of average broker exercise price options (C$) Issued - August 2020 Compensation Options 3,239,907 $ 0.35 Balance, December 31, 2020 3,239,907 $ 0.35 Issued – February 2021 Compensation Options 351,000 0.40 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 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 August 2020 0.31 % 0 % 100 % C$ 0.35 3 February 2021 0.26 % 0 % 100 % C$ 0.40 3 April 1, 2022 2.34 % 0 % 120 % C$ 0.30 2 |
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 August 2020 0.31 % 0 % 100 % C$ 0.35 3 February 2021 0.26 % 0 % 100 % C$ 0.40 3 April 1, 2022 2.34 % 0 % 120 % C$ 0.30 2 |
Schedule of Broker Exercise Prices | Schedule of Broker Exercise Prices Exercise Number of 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 5,470,799 $ 854,506 (i) Exercisable into one August 2020 Unit (ii) Exercisable into one February 2021 Unit (iii) Exercisable into one April 2022 Unit |
Schedule of Stock Options | The following table summarizes the stock option activity during the years ended December 31, 2022 and 2021: Schedule of Stock Options Weighted average Number of exercise price stock options (C$) Balance, December 31, 2020 8,015,159 $ 0.62 Granted (i) 1,037,977 0.34 Balance, December 31, 2021 9,053,136 $ 0.58 Granted (ii) 700,000 0.15 Expired May 1, 2022 (47,500 ) 10.00 Forfeited November 25, 2022 (150,000 ) 0.15 Expired December 31, 2022 (235,500 ) 0.50 Balance, December 31, 2022 9,320,636 $ 0.51 (i) On February 19, 2021, 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 (ii) On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 (iii) On November 23, 2022, 400,000 200,000 5 0.15 37,387 20,191 |
Schedule of Estimated Using Black-Scholes Valuation Model for Fair value of Stock Options | The fair value of these stock options was determined on the date of grant using the Black-Scholes valuation model, and using the following underlying assumptions: Schedule of Estimated Using Black-Scholes Valuation Model for Fair value of Stock Options Risk free interest rate Dividend yield Volatility Stock price Weighted average life (i) 0.64 % 0 % 100 % C$ 0.34 5 (ii) 3.27 % 0 % 120 % C$ 0.15 5 (iii) 3.22 % 0 % 120 % C$ 0.15 5 |
Schedule of Actual Stock Options Issued and Outstanding | The following table reflects the actual stock options issued and outstanding as of December 31, 2022: 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 0.75 200,000 200,000 52,909 0.60 1.82 1,575,000 1,575,000 435,069 0.55 2.30 5,957,659 2,978,830 1,536,764 0.335 3.14 1,037,977 1,037,977 204,213 0.15 0.90 150,000 150,000 14,465 0.15 4.90 400,000 200,000 37,387 9,320,636 6,141,807 $ 2,280,807 |
Income per Share (Tables)
Income per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Net Income (loss) per common share | |
Schedule of Income Per Share | Schedule of Income Per Share Year ended December 31, 2022 Year ended December 31, 2021 Net income (loss) for the period 898,591 (6,402,277 ) Basic income (loss) per share Weighted average number of common shares - basic 205,950,811 161,868,334 Net income (loss) per share – basic 0.00 (0.04 ) Net income (loss) for the period 898,591 (6,402,277 ) Dilutive effect of convertible debentures (370,121 ) - Dilutive effect of warrants on net income - - Diluted net income (loss) for the period 528,470 (6,402,277 ) Diluted income (loss) per share 205,950,811 161,868,334 Weighted average number of common shares - basic Diluted effect: Stock options and RSUs 63,850,470 - Weighted average number of common shares - fully diluted 269,801,281 161,868,334 Net income (loss) per share - fully diluted 0.00 (0.04 ) |
Restricted share units (Tables)
Restricted share units (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Restricted Share Units | The following table summarizes the RSU activity during the year ended December 31, 2022: Schedule of Restricted Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2020 988,990 $ 0.39 Granted 1,348,434 0.38 Vested (1,516,299 ) 0.41 Forfeited (245,125 ) 0.52 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 |
Deferred share units (Tables)
Deferred share units (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Deferred Share Units | |
Schedule of Deferred Share Units | The following table summarizes the DSU activity during the years ended December 31, 2022 and 2021: Schedule of Deferred Share Units Weighted average grant date fair value Number of per share shares (C$) Unvested as at December 31, 2020 7,500,000 $ 1.03 Vested (1,875,000 ) 1.03 Unvested as at December 31, 2021 5,625,000 $ 1.03 Granted (i) 210,000 0.20 Vested (ii)(iii) (3,125,000 ) 1.03 Unvested as at December 31, 2022 2,710,000 $ 1.00 (i) On April 21, 2020, the Company granted 7,500,000 5 210,000 12 282,967 421,284 2,500,000 573,742 (ii) On March 31, 2022, the Board approved the early vesting of 625,000 (iii) During the year ended December 31, 2022, the director redeemed 2,500,000 750,000 375,000 0.30 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Provision | As at December 31, 2022, and December 31, 2021, the Company had no accrued interest and penalties related to uncertain tax positions. The income tax provision differs from the amount of income tax determined by applying the U.S. federal tax rate of 21.0 21.0 Schedule of Income Tax Provision Year Year Ended Ended December 31, December 31, 2022 2021 Income (loss) before income taxes $ 898,591 $ (6,402,277 ) Expected income tax recovery 188,704 (1,344,478 ) Change in estimates in respect of prior periods (41,351 ) 837,195 Change in tax rate 133,687 274,477 Change in fair value of derivative liability (3,296,242 ) (2,583,095 ) State and local taxes, net of federal benefit (709,272 ) (960,296 ) Other 308 5,033 Change in valuation allowance 3,724,166 3,771,164 Total $ - $ - |
Schedule of Deferred Tax Assets | Deferred tax assets and the valuation account are as follows: Schedule of Deferred Tax Assets December 31, December 31, 2022 2021 Deferred tax asset: Net operating loss carryforwards $ 10,291,114 $ 6,724,313 Mineral interest purchase option - 10,707,362 Mining interests 8,391,938 - EPA liabilities 2,068,062 - Other deferred tax assets 851,563 454,499 Valuation allowance (21,602,677 ) (17,886,174 ) Total $ - $ - |
Schedule of Components of Deferred Tax Assets and Liabilities | Schedule of Components of Deferred Tax Assets and Liabilities December 31, December 31, 2022 2021 Deferred tax asset: Net operating loss carryforwards $ 101,662 $ 59,955 Deferred tax liabilities: Equipment - (18,809 ) Unrealized foreign exchange gain (101,662 ) (41,146 ) Net deferred tax asset $ - $ - |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 Year Year December 31, December 31, 2022 2021 Consulting fees, wages and bonus $ 1,429,326 $ 901,210 |
Nature and continuance of ope_2
Nature and continuance of operations and going concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Entity incorporation, state or country code | NV | |
Accumulated deficit | $ 71,592,559 | $ 72,491,150 |
Significant accounting polici_3
Significant accounting policies (Details Narrative) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement, Option [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Anti-dilutive securities excluded from earnings per share | 9,005,636 | 9,053,136 |
Warrant [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Anti-dilutive securities excluded from earnings per share | 162,129,064 | 111,412,712 |
Broker Options [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Anti-dilutive securities excluded from earnings per share | 5,470,799 | 3,590,907 |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives of equipment | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives of equipment | 10 years |
Schedule of Accounts receivable
Schedule of Accounts receivable and prepaid expenses (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Credit Loss [Abstract] | ||
Prepaid expenses | $ 386,218 | $ 413,443 |
Environment protection agency overpayment (note 8) | 170,729 | |
Total | $ 556,947 | $ 413,443 |
Schedule of Equipment (Details)
Schedule of Equipment (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Equipment, gross | $ 920,571 | $ 603,972 |
Less accumulated depreciation | (369,367) | (207,078) |
Equipment, net | 551,204 | 396,894 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Equipment, gross | $ 920,571 | $ 603,972 |
Schedule of Plant Asset Consist
Schedule of Plant Asset Consists (Details) - USD ($) | Dec. 31, 2022 | May 13, 2022 | Jan. 07, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Abstract] | ||||
Deposit paid | $ 500,000 | $ 500,000 | ||
Sales tax paid | 231,000 | $ 231,000 | ||
Value of shares issued | 1,970,264 | $ 1,970,264 | ||
Value of warrants issued | 1,273,032 | |||
Total plant & inventory purchased | 3,974,296 | |||
Site preparation costs | 2,296,266 | |||
Demobilization | 2,201,414 | |||
Less spare parts inventory | (341,004) | |||
Pend Oreille plant asset, net | $ 8,130,972 |
Equipment (Details Narrative)
Equipment (Details Narrative) - USD ($) | 12 Months Ended | ||||||
Aug. 30, 2022 | May 13, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Oct. 13, 2022 | Sep. 15, 2022 | Jan. 07, 2022 | |
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 | $ 500,000 | |||||
Sales tax paid | $ 231,000 | 231,000 | |||||
Cash | 731,000 | ||||||
Value of shares issued | $ 1,970,264 | 1,970,264 | |||||
Value of warrants issued | 1,273,032 | ||||||
Total value | 3,974,296 | ||||||
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 | ||||||
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 | $ 162,290 | $ 133,526 |
Schedule of Right-of-use Asset
Schedule of Right-of-use Asset (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Right-of-use Asset | ||
Office lease | $ 319,133 | $ 319,133 |
Less accumulated depreciation | (319,133) | (266,780) |
Right-of-use asset, net | $ 52,353 |
Right-of-use asset (Details Nar
Right-of-use asset (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Right-of-use Asset | ||
Depreciation expenses | $ 52,353 | $ 106,378 |
Schedule of Mining Interests (D
Schedule of Mining Interests (Details) | Dec. 31, 2022 USD ($) |
Extractive Industries [Abstract] | |
Contract purchase price | $ 7,700,000 |
Less: Credit by seller for prior maintenance payments | (300,000) |
Net present value of water treatment cost recovery liability assumed (note 8) | 6,402,425 |
Closing costs capitalized | 2,638 |
Mine acquisition costs - legal | 442,147 |
Carrying cost of mine – January 7, 2022 | 14,247,210 |
Capitalized mining costs – 2022 | 1,447,435 |
Carrying cost of mine - total | $ 15,694,645 |
Mining Interests (Details Narra
Mining Interests (Details Narrative) - USD ($) | 12 Months Ended | |||||
Mar. 03, 2022 | Jan. 07, 2022 | Nov. 20, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Advance payment | $ 1,157,059 | |||||
Number shares issued of common shares | [1] | 6,168,069 | ||||
Contract purchase price | 7,700,000 | |||||
Credit by seller for prior maintenance payments | 300,000 | |||||
Land purchase | $ 202,000 | $ 202,000 | ||||
Common Stock [Member] | ||||||
Number shares issued of common shares | [1] | 20 | ||||
Amended Agreement [Member], Placer Mining Corp [Member] | ||||||
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] | ||||||
Payable in cash | 3,400,000 | |||||
Number shares issued of common shares | 2,000,000 | |||||
EPA Settlement Agreement[Member], Placer Mining Corp [Member] | ||||||
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 | |||||
Environmental Protection Agency [Member] | ||||||
Payable in cash | $ 2,000,000 | |||||
Acquisition costs | 260,463 | |||||
Prepaid mine deposit and acquisition costs | $ 2,260,463 | |||||
Environmental Protection Agency Agreement [Member] | ||||||
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] | ||||||
Remaining payments purchase assets | $ 2,000,000 | |||||
[1]Units issued at C$ 0.40 0.32 |
Schedule of Amended Settlement
Schedule of Amended Settlement Environmental Protection Agency Agreement (Details) | Sep. 30, 2022 USD ($) |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
[custom:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix-0] | $ 2,000,000 |
Environmental Protection Agency Agreement [Member] | |
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 |
Environmental Protection Agen_3
Environmental Protection Agency (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||
Jan. 07, 2022 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2022 | Jan. 02, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Cost recovery liability payable | $ 19,000,000 | $ 19,000,000 | ||||||
Payment bond | 5,000,000 | |||||||
Cost recovery | $ 2,000,000 | |||||||
Liabilities current | 10,155,582 | 10,155,582 | $ 22,795,277 | |||||
Product liability contingency description | the Company accounted for the $17,000,000 liabilities according to the previous payment schedule, resulting in $12,000,000 classified as a current liability and $5,000,000 as a long-term liability. The long-term portion was discounted at an interest rate of 16.5% to arrive at a net present value of $3,540,851 after discount ($3,402,425 as of the purchase of the mine plus $138,427 of accretion expense during the quarter ended March 31, 2022. | |||||||
Letter of credit | 7,001,000 | 7,001,000 | ||||||
Restricted cash current | 6,476,000 | 6,476,000 | ||||||
Line of credit reduced | 2,000,001 | |||||||
Monthly fee | 20,000 | |||||||
Line of credit | 3,000,000 | |||||||
Restricted cash | 6,476,000 | 6,476,000 | $ 9,476,000 | $ 3,000,000 | ||||
Gain (Loss) on Extinguishment of Debt | (56,146) | |||||||
Amortization of Debt Issuance Costs | 712,713 | |||||||
Interest Expense, Debt, Excluding Amortization | 156,343 | |||||||
Long-Term Debt, Excluding Current Maturities | 7,941,466 | 7,941,466 | ||||||
Interest Payable | 24,587 | 24,587 | 306,501 | |||||
Water treatment payable current | 5,110,706 | |||||||
Net payments | 1,400,000 | |||||||
Monthly costs water treatment charges | 140,000 | 140,000 | ||||||
Refund received | 280,000 | |||||||
Prepaid expense | 170,729 | 170,729 | ||||||
Third Party [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Letter of credit | 2,000,000 | 2,000,000 | ||||||
Bunker Hill Mine [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Environmental Costs Recognized, Capitalized | 6,402,425 | 6,402,425 | ||||||
Liabilities current | 3,000,000 | 3,000,000 | ||||||
Liabilities non current | 5,000,000 | 5,000,000 | ||||||
Environmental Protection Agency [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments for environmental liabilities | 20,000,000 | |||||||
Cost recovery liabilities not recogized | 8,000,000 | |||||||
Environmental Protection Agency [Member] | 30 Days After Agreement Signed [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments for environmental liabilities | 1,000,000 | |||||||
Environmental Protection Agency [Member] | November 1, 2018 [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments for environmental liabilities | 2,000,000 | |||||||
Environmental Protection Agency [Member] | Next Five Anniversaries [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments for environmental liabilities | 3,000,000 | |||||||
Environmental Protection Agency [Member] | November 1, 2024 [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payments for environmental liabilities | 2,000,000 | |||||||
Environmental Protection Agency Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Cost recovery payable outstanding | $ 11,000,000 | |||||||
EPA Settlement Agreement Amendment [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payment bond | $ 9,999,000 | 17,000,000 | ||||||
Letter of credit | 7,001,000 | |||||||
Payment to amended settlement | 17,000,000 | |||||||
Restricted cash current | $ 9,476,000 | |||||||
EPA Settlement Agreement Amendment [Member] | Payment Bond [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Cash deposits | 2,475,000 | |||||||
EPA Settlement Agreement Amendment [Member] | Letter of Credit [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Cash deposits | $ 7,001,000 | |||||||
EPA Settlement Agreement [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Liability assumed | 17,000,000 | 17,000,000 | ||||||
Discount on debt | 8,000,000 | 8,000,000 | ||||||
Debt Modifications and Extinguishments [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Payment to amended settlement | 17,000,000 | |||||||
Gain (Loss) on Extinguishment of Debt | 8,614,103 | |||||||
Debt Instrument, Unamortized Discount | $ 9,927,590 | $ 9,927,590 | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 19.95% | 19.95% | ||||||
[custom:CostRecoveryLiabilityLongtermNetOfDiscount-0] | $ 7,072,410 | $ 7,072,410 |
Schedule of Key Valuation Input
Schedule of Key Valuation Inputs (Details) | 12 Months Ended | |
Dec. 31, 2022 $ / shares | ||
CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 0.219 | |
Valuation date | Jan. 28, 2022 | [1],[2],[3],[4],[5] |
Maturity date | Jul. 07, 2023 | [1],[2],[3],[4],[5] |
Share price | $ 0.230 | [1],[2],[3],[4],[5] |
RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 1.85 | |
Valuation date | Jan. 07, 2022 | [1],[2],[5] |
Maturity date | Jul. 07, 2023 | [1],[2],[5] |
Share price | $ 0.242 | [1],[2],[5] |
CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 0.212 | |
Valuation date | Mar. 31, 2022 | [1],[2],[3],[4],[5] |
Maturity date | Jul. 07, 2023 | [1],[2],[3],[4],[5] |
Share price | $ 0.235 | [1],[2],[3],[4],[5] |
RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Mar. 31, 2022 | [1],[2],[5] |
Maturity date | Jul. 07, 2023 | [1],[2],[5] |
Share price | $ 0.235 | [1],[2],[5] |
CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Jun. 17, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.185 | [1],[2],[5] |
CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Jun. 30, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.150 | [1],[2],[5] |
CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Jun. 30, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.150 | [1],[2],[5] |
RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Jun. 30, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Sep. 30, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.085 | [1],[2],[5] |
RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Sep. 30, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.085 | [1],[2],[5] |
CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.085 | [1],[2],[5] |
CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.125 | [1],[2],[5] |
RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.125 | [1],[2],[5] |
CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
Valuation date | Dec. 31, 2022 | [1],[2],[5] |
Maturity date | Mar. 31, 2025 | [1],[2],[5] |
Share price | $ 0.125 | [1],[2],[5] |
Measurement Input Contractual Interest Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.50 | [3] |
Measurement Input Contractual Interest Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.50 | |
Measurement Input Contractual Interest Rate [Member] | RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.50 | |
Measurement Input Contractual Interest Rate [Member] | CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.50 | |
Measurement Input Contractual Interest Rate [Member] | CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.50 | |
Measurement Input Contractual Interest Rate [Member] | RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.50 | |
Measurement Input Contractual Interest Rate [Member] | RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.50 | |
Measurement Input Contractual Interest Rate [Member] | CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.50 | [4] |
Measurement Input Contractual Interest Rate [Member] | RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9 | |
Measurement Input Contractual Interest Rate [Member] | CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.50 | [4] |
Measurement Input, Option Volatility [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | [3] |
Measurement Input, Option Volatility [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 130 | |
Measurement Input, Option Volatility [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | [4] |
Measurement Input, Option Volatility [Member] | RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | |
Measurement Input, Option Volatility [Member] | CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 120 | [4] |
Measurement Input, Credit Spread [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 8.70 | [3] |
Measurement Input, Credit Spread [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9.21 | |
Measurement Input, Credit Spread [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 8.85 | |
Measurement Input, Credit Spread [Member] | RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 8.85 | |
Measurement Input, Credit Spread [Member] | CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 9.45 | |
Measurement Input, Credit Spread [Member] | CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.71 | |
Measurement Input, Credit Spread [Member] | CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.71 | |
Measurement Input, Credit Spread [Member] | RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 10.71 | |
Measurement Input, Credit Spread [Member] | CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 13.31 | |
Measurement Input, Credit Spread [Member] | RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 13.31 | |
Measurement Input, Credit Spread [Member] | CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 13.31 | |
Measurement Input, Credit Spread [Member] | CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.08 | [4] |
Measurement Input, Credit Spread [Member] | RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.08 | |
Measurement Input, Credit Spread [Member] | CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 7.08 | [4] |
Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 13 | |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 0.92 | [3] |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 0.65 | |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 1.80 | |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 1.80 | |
Measurement Input, Risk Free Interest Rate [Member] | CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 3.28 | |
Measurement Input, Risk Free Interest Rate [Member] | CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 2.95 | |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 2.95 | |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 2.95 | |
Measurement Input, Risk Free Interest Rate [Member] | CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.19 | |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.19 | |
Measurement Input, Risk Free Interest Rate [Member] | CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.19 | |
Measurement Input, Risk Free Interest Rate [Member] | CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.32 | [4] |
Measurement Input, Risk Free Interest Rate [Member] | RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.32 | |
Measurement Input, Risk Free Interest Rate [Member] | CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 4.32 | [4] |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 16.18 | [3] |
Measurement Input Risk Adjusted Rate [Member] | RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 16.39 | |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 17.12 | |
Measurement Input Risk Adjusted Rate [Member] | RCD Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 17.12 | |
Measurement Input Risk Adjusted Rate [Member] | CD2 Note Three [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 20.95 | |
Measurement Input Risk Adjusted Rate [Member] | CD2 Note Four [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 21.78 | |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 19.89 | |
Measurement Input Risk Adjusted Rate [Member] | RCD Note Five [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 19.89 | |
Measurement Input Risk Adjusted Rate [Member] | CD1 Note Six [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 23.35 | |
Measurement Input Risk Adjusted Rate [Member] | RCD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 23.35 | |
Measurement Input Risk Adjusted Rate [Member] | CD Note Seven [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 25.21 | |
Measurement Input Risk Adjusted Rate [Member] | CD Note Eight [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 17.85 | [4] |
Measurement Input Risk Adjusted Rate [Member] | RCD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 17.85 | |
Measurement Input Risk Adjusted Rate [Member] | CD Note Nine [Member] | ||
Short-Term Debt [Line Items] | ||
CD2 note | 19.76 | [4] |
[1]A project risk rate of 13.0 7.23 9.32 5.0 10.0 0.219 0.212 1.85 1.85 98 6.71 4.36 17.55 |
Schedule of Key Valuation Inp_2
Schedule of Key Valuation Inputs (Details) (Parenthetical) | Dec. 31, 2022 | |
Measurement Input Credit Spread One [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 7.23 | |
Measurement Input Credit Spread Two [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 9.32 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 13 | |
CD Note [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 5 | |
CD Two Note [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 10 | |
CD1 Note One [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 0.219 | |
CD1 Note One [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 0.92 | [1] |
CD1 Note One [Member] | Measurement Input, Option Volatility [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 120 | [1] |
CD1 Note One [Member] | Measurement Input, Credit Spread [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 8.70 | [1] |
CD1 Note One [Member] | Measurement Input Risk Adjusted Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 16.18 | [1] |
CD1 Note Two [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 0.212 | |
CD1 Note Two [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 1.80 | |
CD1 Note Two [Member] | Measurement Input, Option Volatility [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 120 | |
CD1 Note Two [Member] | Measurement Input, Credit Spread [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 8.85 | |
CD1 Note Two [Member] | Measurement Input Risk Adjusted Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 17.12 | |
RCD Note [Member] | ||
Short-Term Debt [Line Items] | ||
Percentage of royalty revenue | 1.85% | |
RCD Note One [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 1.85 | |
RCD Note One [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 0.65 | |
RCD Note One [Member] | Measurement Input, Option Volatility [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 130 | |
RCD Note One [Member] | Measurement Input, Credit Spread [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 9.21 | |
RCD Note One [Member] | Measurement Input Risk Adjusted Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 16.39 | |
RCD Note Two [Member] | Measurement Input, Option Volatility [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 98 | |
RCD Three [Member] | Measurement Input, Credit Spread [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 6.71 | |
RCD Note Four [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 4.36 | |
RCD Five [Member] | Measurement Input Risk Adjusted Rate [Member] | ||
Short-Term Debt [Line Items] | ||
RCD5 | 17.55 | |
[1]The CD1 carried a Discount for Lack of Marketability (“DLOM”) of 5.0 10.0 |
Schedule of Fair Value Derivati
Schedule of Fair Value Derivative Liability (Details) - USD ($) | Dec. 31, 2022 | Sep. 30, 2022 |
CD1 [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | $ 5,537,360 | $ 6,320,807 |
RCD Note [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | 10,285,777 | 7,679,193 |
CD Two Note [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | 14,063,525 | 15,000,000 |
CD1 and RCD [Member] | ||
Short-Term Debt [Line Items] | ||
Total Fair Value | $ 29,886,662 | $ 29,000,000 |
Promissory notes payable and _3
Promissory notes payable and Convertible Debentures (Details Narrative) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Dec. 06, 2022 USD ($) | Jun. 17, 2022 USD ($) | Mar. 03, 2022 USD ($) | Jan. 28, 2022 USD ($) | Jan. 07, 2022 USD ($) | Sep. 22, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Apr. 15, 2022 USD ($) | Jan. 28, 2022 $ / shares | Dec. 20, 2021 USD ($) | |
Short-Term Debt [Line Items] | |||||||||||||
Promissory notes payable | $ 1,500,000 | $ 2,500,000 | |||||||||||
Interest expense | 16,466 | ||||||||||||
Interest payable | 384,041 | 102,740 | |||||||||||
Project finance package convertible debenture | $ 50,000,000 | ||||||||||||
Convertible debt | $ 66,000,000 | ||||||||||||
Subsequently increased debt | 6,000,000 | ||||||||||||
Project financing fee | 51,000,000 | ||||||||||||
Gain on extinguishment | (56,146) | ||||||||||||
Debenture fair value other comprehensive income | 1,140,537 | ||||||||||||
Interest expense, debt | $ 3,382,559 | 102,740 | |||||||||||
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 December 31, 2022, the Stream had not been advanced. | ||||||||||||
Interest Expense, Other | $ 72,304 | ||||||||||||
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 | 253,875 | ||||||||||||
Consolidated Balance Sheets [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Interest expense | 2,092,065 | ||||||||||||
Interest payable | 691,890 | ||||||||||||
Convertible Debt [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Loan amount | $ 15,000,000 | $ 6,000,000 | |||||||||||
Maturity date, description | maturity date would be amended from July 7, 2023 to March 31, 2025 | ||||||||||||
Increase in debt | $ 5,000,000 | ||||||||||||
Interest rate | 10.50% | 7.50% | |||||||||||
Debt instrument convertible conversion price | $ / shares | $ 0.30 | ||||||||||||
Gain on convertible debt | 179,046 | ||||||||||||
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 | 53,985 | ||||||||||||
Interest expense, debt | 70,404 | ||||||||||||
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] | |||||||||||||
NotesPayable | $ 2,500,000 | $ 500,000 | $ 500,000 | $ 500,000 | |||||||||
Interest rate | 15% | ||||||||||||
Maturity date | Mar. 15, 2022 | ||||||||||||
Purchased a land parcel | $ 202,000 | ||||||||||||
Promissory notes payable | 1,500,000 | 1,500,000 | |||||||||||
Interest expense | 281,301 | $ 102,740 | |||||||||||
RCD Note [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Interest rate | 9% | ||||||||||||
Convertible debt | $ 8,000,000 | 8,000,000 | 8,000,000 | ||||||||||
Loan amount | $ 8,000,000 | ||||||||||||
Royalty percentage | 1.85% | ||||||||||||
Maturity date, description | maturity date from July 7, 2023 to March 31, 2025 | ||||||||||||
Convertible Debenture [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | $ 5,000,000 | ||||||||||||
Convertible Debenture One [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible debt | $ 15,000,000 | ||||||||||||
Convertible Debentures [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Gain on extinguishment | $ 607,261 | ||||||||||||
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) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Lease Liability | ||
Beginning Balance | $ 62,277 | $ 176,607 |
Addition | ||
Interest expense | 1,834 | 12,696 |
Lease payments | (64,828) | (129,191) |
Foreign exchange loss | 717 | 2,165 |
Ending balance | $ 62,277 |
Schedule of Estimated Using the
Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities (Details) | 4 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Apr. 02, 2022 USD ($) | May 13, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2022 $ / shares shares | Jun. 30, 2022 $ / shares | May 13, 2022 $ / shares | Apr. 02, 2022 $ / shares | Dec. 31, 2020 $ / shares shares | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Change in derivative liability | $ 15,696,391 | $ 12,300,453 | |||||||||
Number of warrants issued | shares | 162,129,064 | 162,129,064 | |||||||||
Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 13 | 13 | |||||||||
June 2022 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Share price | $ / shares | $ 0.17 | $ 0.20 | |||||||||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 822 days | 822 days | 1096 days | ||||||||
Share price | $ / shares | $ 0.17 | $ 0.29 | |||||||||
Fair value | $ 5,947,232 | $ 2,406,104 | |||||||||
Change in derivative liability | $ (3,541,128) | ||||||||||
Special Warrant Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 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 | 4.06 | 4.06 | 2.35 | ||||||||
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 | 0 | ||||||||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 822 days | 822 days | 1096 days | ||||||||
Share price | $ / shares | $ 0.17 | $ 0.29 | |||||||||
Fair value | 186,190 | $ 93,553 | |||||||||
Change in derivative liability | $ (92,637) | ||||||||||
Non Brokered Issuance [Member] | April 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 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 | 4.06 | 4.06 | 2.35 | ||||||||
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 | 0 | ||||||||
Teck Issuance [Member] | May 2022 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 864 days | 864 days | 1096 days | ||||||||
Share price | $ / shares | $ 0.17 | $ 0.25 | |||||||||
Fair value | $ 1,273,032 | $ 684,497 | |||||||||
Change in derivative liability | $ (588,535) | ||||||||||
Teck Issuance [Member] | May 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 120 | 120 | ||||||||
Teck Issuance [Member] | May 2022 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 4.06 | 4.06 | 2.68 | ||||||||
Teck Issuance [Member] | May 2022 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 0 | 0 | 0 | ||||||||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 822 days | 822 days | 1006 days | ||||||||
Fair value | $ 113,425 | $ 77,429 | |||||||||
Change in derivative liability | $ (35,996) | ||||||||||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 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 | 3.72 | 3.72 | 3.14 | ||||||||
Warrant Liabilities [Member] | June 2022 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 0 | 0 | 0 | ||||||||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 1228 days | 1006 days | 1228 days | ||||||||
Share price | $ / shares | $ 0.17 | $ 0.37 | |||||||||
Fair value | $ 1,335,990 | $ 3,483,745 | |||||||||
Change in derivative liability | $ (2,147,756) | ||||||||||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 100 | 120 | ||||||||
Warrant Liabilities [Member] | February 2021 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 3.72 | 1.25 | 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 | 0 | ||||||||
Warrant Liabilities [Member] | Auguest 2020 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 1228 days | 1228 days | 1228 days | ||||||||
Share price | $ / shares | $ 0.17 | $ 0.37 | |||||||||
Fair value | $ 903,697 | $ 6,790,163 | |||||||||
Change in derivative liability | $ (5,886,466) | ||||||||||
Warrant Liabilities [Member] | Auguest 2020 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 100 | 120 | ||||||||
Warrant Liabilities [Member] | Auguest 2020 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 4.06 | 0.95 | 4.06 | ||||||||
Warrant Liabilities [Member] | Auguest 2020 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 0 | 0 | 0 | ||||||||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | [1] | 1228 days | 1228 days | 1228 days | |||||||
Share price | $ / shares | [1] | $ 0.17 | $ 0.37 | ||||||||
Fair value | [1] | $ 725,737 | $ 2,067,493 | ||||||||
Change in derivative liability | [1] | $ (1,341,756) | |||||||||
Exercise price shares | $ / shares | $ 0.59 | ||||||||||
Warrants maturity date | Dec. 31, 2025 | ||||||||||
Number of warrants issued | shares | 11,660,000 | ||||||||||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | [1] | 120 | 100 | 120 | |||||||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | [1] | 3.82 | 1.02 | 3.82 | |||||||
Warrant Liabilities [Member] | June 2019 Issuance [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | [1] | 0 | 0 | 0 | |||||||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Expected life | 1228 days | 1228 days | 1228 days | ||||||||
Share price | $ / shares | [2] | $ 0.17 | $ 0.37 | ||||||||
Fair value | [2] | $ 1,115,369 | $ 3,177,485 | ||||||||
Change in derivative liability | [2] | $ (2,062,116) | |||||||||
Exercise price shares | $ / shares | $ 0.59 | ||||||||||
Warrants maturity date | Dec. 31, 2025 | ||||||||||
Number of warrants issued | shares | 17,920,000 | ||||||||||
Warrants remain unchanged | shares | 2,752,900 | ||||||||||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | Measurement Input, Option Volatility [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 120 | 100 | 120 | ||||||||
Warrant Liabilities [Member] | August 2019 Issuance [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Dividend yield | 3.82 | 1.02 | 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 | 0 | ||||||||
[1]During the six months ended December 31, 2020, the Company amended the exercise price to C$ 0.59 0.59 December 31, 2025 17,920,000 2,752,900 |
Schedule of Warrant Activity (D
Schedule of Warrant Activity (Details) - Warrant [Member] | 12 Months Ended | |||
Dec. 31, 2022 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2021 $ / shares shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of warrants, ending balance | shares | 111,412,712 | 111,412,712 | 95,777,806 | 95,777,806 |
Weighted average exercise price, beginning balance | $ 0.54 | $ 0.54 | ||
Weighted average grant date, beginning balance | $ 0.18 | $ 0.18 | ||
Number of warrants, Issued | shares | 50,955,636 | 50,955,636 | 19,994,080 | 19,994,080 |
Weighted average exercise price, Issued | $ 0.37 | $ 0.60 | ||
Weighted average grant date, Issued | $ 0.15 | $ 0.19 | ||
Number of warrants, Expired | shares | (239,284) | (239,284) | (4,359,174) | (4,359,174) |
Weighted average exercise price, Expired | $ 0.70 | $ 0.59 | ||
Weighted average grant date, Expired | $ 0.21 | $ 0.19 | ||
Number of warrants, ending balance | shares | 162,129,064 | 162,129,064 | 111,412,712 | 111,412,712 |
Weighted average exercise price, ending balance | $ 0.49 | $ 0.54 | ||
Weighted average grant date, ending balance | $ 0.17 | $ 0.18 |
Schedule of Warrants Outstandin
Schedule of Warrants Outstanding Exercise Price (Details) | Dec. 31, 2022 $ / shares shares |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Number of warrants | 162,129,064 |
Number of warrants exercisable | 162,129,064 |
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 |
Warrant Six [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Expiry date | May 13, 2025 |
Exercise price | $ / shares | $ 0.37 |
Number of warrants | 10,416,667 |
Number of warrants exercisable | 10,416,667 |
Schedule of Estimated Using Bla
Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options (Details) - $ / shares | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Issued - Compensation Options | 700,000 | [1] | 1,037,977 | [2] | |
Weighted Average exercise price, Compensation Options Issued | $ 0.15 | [1] | $ 0.34 | [2] | |
Number of stock options, beginning | 9,053,136 | 8,015,159 | |||
Weighted average exercise price beginning balance | $ 0.58 | $ 0.62 | |||
Number of stock options, ending | 9,320,636 | 9,053,136 | 8,015,159 | ||
Weighted average exercise price ending balance | $ 0.51 | $ 0.58 | $ 0.62 | ||
August 2020 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Risk free interest rate | 0.31% | ||||
Dividend yield | 0% | ||||
Volatility | 100% | ||||
Stock price | $ 0.35 | ||||
Weighted average life | 3 years | ||||
February 2021 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Risk free interest rate | 0.26% | ||||
Dividend yield | 0% | ||||
Volatility | 100% | ||||
Stock price | $ 0.40 | ||||
Weighted average life | 3 years | ||||
April 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Risk free interest rate | 2.34% | ||||
Dividend yield | 0% | ||||
Volatility | 120% | ||||
Stock price | $ 0.30 | ||||
Weighted average life | 2 years | ||||
Compensation Options [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Issued - Compensation Options | 1,879,892 | 351,000 | 3,239,907 | ||
Weighted Average exercise price, Compensation Options Issued | $ 0.30 | $ 0.40 | $ 0.35 | ||
Number of stock options, beginning | 3,590,907 | 3,239,907 | |||
Weighted average exercise price beginning balance | $ 0.35 | $ 0.35 | |||
Number of stock options, ending | 5,470,799 | 3,590,907 | 3,239,907 | ||
Weighted average exercise price ending balance | $ 0.34 | $ 0.35 | $ 0.35 | ||
[1]On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 |
Schedule of Broker Exercise Pri
Schedule of Broker Exercise Prices (Details) | Dec. 31, 2022 $ / shares shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of warrants exercisable | 162,129,064 | |
Broker Options [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of broker options | 5,470,799 | |
Number of warrants exercisable | 854,506 | |
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] |
[1]Exercisable into one August 2020 Unit[2]Exercisable into one February 2021 Unit[3]Exercisable into one April 2022 Unit |
Schedule of Stock Options (Deta
Schedule of Stock Options (Details) - $ / shares | 4 Months Ended | 12 Months Ended | ||||
May 01, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Equity [Abstract] | ||||||
Number of stock options, beginning | 9,053,136 | 9,053,136 | 8,015,159 | |||
Weighted average exercise price beginning balance | $ 0.58 | $ 0.58 | $ 0.62 | |||
Number of stock options, Granted | 700,000 | [1] | 1,037,977 | [2] | ||
Weighted average exercise price, Granted | $ 0.15 | [1] | $ 0.34 | [2] | ||
Number of stock options, Expired | (47,500) | (235,500) | ||||
Weighted average exercise price, Granted | [1] | $ 10 | $ 0.50 | |||
Number of stock options, Expired | (150,000) | |||||
Weighted average exercise price, Granted | [1] | $ 0.15 | ||||
Number of stock options, ending | 9,320,636 | 9,053,136 | ||||
Weighted average exercise price ending balance | $ 0.51 | $ 0.58 | ||||
[1]On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 |
Schedule of Stock Options (De_2
Schedule of Stock Options (Details) (Parenthetical) | 12 Months Ended | |||||||||||||
Nov. 23, 2022 USD ($) shares | Nov. 23, 2022 $ / shares | Aug. 24, 2022 USD ($) shares | Aug. 24, 2022 $ / shares | Dec. 31, 2021 shares | Feb. 19, 2021 USD ($) shares | Feb. 19, 2021 $ / shares | Dec. 31, 2022 USD ($) | Dec. 31, 2022 $ / shares | [1] | Aug. 24, 2022 shares | Dec. 31, 2021 USD ($) | Dec. 31, 2021 $ / shares | [2] | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Exercisable price per option | $ / shares | $ 0.15 | $ 0.34 | ||||||||||||
Officer [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Stock option vested | shares | 1,037,977 | |||||||||||||
Option term | 5 years | |||||||||||||
Exercisable price per option | $ / shares | $ 0.335 | |||||||||||||
Grant date fair value of options | $ 204,213 | |||||||||||||
Share based compensation expense | $ 204,213 | |||||||||||||
Officer [Member] | December 31, 2021 [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Stock option vested | shares | 764,706 | |||||||||||||
Officer [Member] | Vest Immediately [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Stock option vested | shares | 273,271 | |||||||||||||
Employee [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Stock option vested | shares | 400,000 | 300,000 | ||||||||||||
Option term | 5 years | 5 years | ||||||||||||
Exercisable price per option | $ / shares | $ 0.15 | $ 0.15 | ||||||||||||
Grant date fair value of options | $ 28,930 | |||||||||||||
Share based compensation expense | 15,594 | |||||||||||||
Employee [Member] | Vest Immediately [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Stock option vested | shares | 200,000 | 150,000 | ||||||||||||
Employees [Member] | ||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||||||
Grant date fair value of options | $ 37,387 | |||||||||||||
Share based compensation expense | $ 20,191 | |||||||||||||
[1]On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 |
Schedule of Estimated Using B_2
Schedule of Estimated Using Black-Scholes Valuation Model for Fair value of Stock Options (Details) | 12 Months Ended |
Dec. 31, 2022 $ / shares | |
Stock Option One [Member] | |
Offsetting Assets [Line Items] | |
Risk free interest rate | 0.64% |
Dividend yield | 0% |
Volatility | 100% |
Stock price | $ 0.34 |
Weighted average life | 5 years |
Stock Option Two [Member] | |
Offsetting Assets [Line Items] | |
Risk free interest rate | 3.27% |
Dividend yield | 0% |
Volatility | 120% |
Stock price | $ 0.15 |
Weighted average life | 5 years |
Stock Option Three [Member] | |
Offsetting Assets [Line Items] | |
Risk free interest rate | 3.22% |
Dividend yield | 0% |
Volatility | 120% |
Stock price | $ 0.15 |
Weighted average life | 5 years |
Schedule of Actual Stock Option
Schedule of Actual Stock Options Issued and Outstanding (Details) | 12 Months Ended | ||
Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 shares | Dec. 31, 2020 shares | |
Subsidiary, Sale of Stock [Line Items] | |||
Number of stock options outstanding | 9,320,636 | 9,053,136 | 8,015,159 |
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) | 9 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 9 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 3 months 18 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) | 3 years 1 month 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) | 10 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 10 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 | 12 Months Ended | |||||||||||||||||
May 31, 2022 CAD ($) $ / shares shares | May 31, 2022 CAD ($) $ / shares shares | Nov. 30, 2022 shares | Oct. 31, 2022 shares | Sep. 30, 2022 shares | Jul. 31, 2022 shares | Jun. 30, 2022 $ / shares shares | Apr. 30, 2022 USD ($) shares | Apr. 30, 2022 CAD ($) shares | Feb. 28, 2021 USD ($) $ / shares shares | Feb. 28, 2021 CAD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2022 $ / shares shares | Feb. 28, 2022 $ / shares | Dec. 31, 2021 $ / shares shares | Feb. 28, 2021 $ / shares | |||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Common stock, shares authorized | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | |||||||||||||||
Common stock, par value | $ / shares | $ 0.000001 | $ 0.000001 | |||||||||||||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||||||||
Preferred stock, par value | $ / shares | $ 0.000001 | $ 0.000001 | |||||||||||||||||
Issuance of common stock, shares | 1,315,856 | 1,315,856 | |||||||||||||||||
Shares issued price per share | (per share) | $ 0.24 | $ 0.32 | $ 0.30 | $ 0.40 | |||||||||||||||
Proceeds from issuance of private placement | $ 9,384,622 | $ 11,796,297 | |||||||||||||||||
Number of shares issued, value | $ | [1] | $ 6,168,069 | |||||||||||||||||
Loss on debt settlement | $ | $ (56,146) | ||||||||||||||||||
Contractors [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 1,218,000 | ||||||||||||||||||
Exercise price of warrant | $ / shares | $ 0.37 | ||||||||||||||||||
Teck Rosources Limited [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 10,416,667 | ||||||||||||||||||
Shares issued price per share | $ / shares | $ 0.245 | $ 0.245 | |||||||||||||||||
Exercise price of warrant | $ / shares | $ 0.37 | 0.37 | |||||||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 33,000 | 165,000 | 768,750 | 768,750 | |||||||||||||||
Warrant [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Warrants expired | 239,284 | 4,359,174 | |||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 1,599,150 | 8,252,940 | 1,975,482 | 19,576,360 | [1] | ||||||||||||||
Number of shares issued, value | $ | [1] | $ 20 | |||||||||||||||||
February 2020 Broker Warrants [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Warrants expired | 239,284 | ||||||||||||||||||
Non-Brokered Private Placement [Member] | February 2021 [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 417,720 | 417,720 | |||||||||||||||||
Number of shares issued, value | $ | $ 132,000 | ||||||||||||||||||
Deemed price | $ / shares | $ 0.45 | ||||||||||||||||||
Loss on debt settlement | $ | $ 56,146 | ||||||||||||||||||
Non-Brokered Private Placement [Member] | February 2021 Warrant [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Exercise price of warrant | $ / shares | $ 0.60 | ||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | 5 years | |||||||||||||||||
Non-Brokered Private Placement [Member] | February 2021 Compensation Options [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 154,630 | ||||||||||||||||||
Share issuance costs | 351,000 | 351,000 | |||||||||||||||||
Exercise price | $ / shares | $ 0.40 | ||||||||||||||||||
Non-Brokered Private Placement [Member] | Warrant [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 1,471,664 | ||||||||||||||||||
Shares issued price per share | $ / shares | $ 0.30 | 0.30 | |||||||||||||||||
Exercise price of warrant | $ / shares | 0.37 | 0.37 | |||||||||||||||||
Sale of stock of number of shares issued | 1,471,664 | 1,471,664 | |||||||||||||||||
Non-Brokered Private Placement [Member] | February 2021 Offering [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 19,576,360 | 19,576,360 | |||||||||||||||||
Shares issued price per share | $ / shares | $ 0.40 | ||||||||||||||||||
Proceeds from issuance of private placement | $ 6,168,069 | $ 7,830,544 | |||||||||||||||||
Private Placement [Member] | Warrant [Member] | |||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||||||||||
Issuance of common stock, shares | 4,809,160 | 4,809,160 | |||||||||||||||||
Shares issued price per share | $ / shares | 0.30 | 0.30 | $ 0.30 | ||||||||||||||||
Exercise price of warrant | $ / shares | $ 0.37 | $ 0.37 | $ 0.37 | ||||||||||||||||
Sale of stock of number of shares issued | 37,849,325 | 37,849,325 | |||||||||||||||||
Cash commission | $ | $ 563,968 | $ 563,968 | |||||||||||||||||
Compensation options exercisable to acquire shares | 1,879,892 | ||||||||||||||||||
[1]Units issued at C$ 0.40 0.32 |
Schedule of Income Per Share (D
Schedule of Income Per Share (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net Income (loss) per common share | ||
Net income (loss) for the period | $ 898,591 | $ (6,402,277) |
Diluted income (loss) per share | 205,950,811 | 161,868,334 |
Net income (loss) per share – basic | $ 0 | $ (0.04) |
Dilutive effect of convertible debentures | (370,121) | |
Dilutive effect of warrants on net income | ||
Diluted net income (loss) for the period | $ 528,470 | $ (6,402,277) |
Stock options and RSUs | 63,850,470 | |
Weighted average number of common shares - fully diluted | 269,801,281 | 161,868,334 |
Net income (loss) per share - fully diluted | $ 0 | $ (0.04) |
Schedule of Restricted Share Un
Schedule of Restricted Share Units (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement [Abstract] | ||
Number of shares, Unvested, Beginning balance | 576,000 | 988,990 |
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 0.62 | $ 0.39 |
Number of shares, Granted | 6,620,641 | 1,348,434 |
Weighted average grant date fair value per share, Granted | $ 0.17 | $ 0.38 |
Number of shares, Vested | (2,373,900) | (1,516,299) |
Weighted average grant date fair value per share, Vested | $ 0.18 | $ 0.41 |
Number of shares, Forfeited | (245,125) | |
Weighted average grant date fair value per share, Forfeited | $ 0.52 | |
Number of shares, Unvested, Ending balance | 4,822,741 | 576,000 |
Weighted average grant date fair value per share, Unvested, Ending balance | $ 0.22 | $ 0.62 |
Restricted share units (Details
Restricted share units (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||||
Nov. 17, 2022 | Oct. 31, 2022 | Sep. 29, 2022 | Jun. 30, 2022 | Apr. 29, 2022 | Jan. 10, 2022 | Aug. 05, 2021 | Jul. 02, 2021 | Jan. 02, 2021 | Jul. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 6,620,641 | 1,348,434 | ||||||||||
Share based payment award, vested in period | 2,373,900 | 1,516,299 | ||||||||||
Share based payment award, forfeited in period | 245,125 | |||||||||||
Consultant One [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 735,383 | |||||||||||
Share based payment award, vested in period | 245,128 | 490,258 | ||||||||||
Share based payment award, forfeited in period | 245,125 | |||||||||||
Stock based compensation | $ 64,870 | $ 199,542 | ||||||||||
Consultant Two [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 17,823 | |||||||||||
Stock based compensation | 4,026 | |||||||||||
Consultant Three [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 595,228 | |||||||||||
Stock based compensation | $ 100,022 | |||||||||||
Consultant Four [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 | |||||||||||
Consultant Five [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 76,750 | |||||||||||
Stock based compensation | 16,800 | |||||||||||
Consultant Six [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 15,000 | |||||||||||
Stock based compensation | 2,328 | |||||||||||
Consultant Seven [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 33,000 | |||||||||||
Stock based compensation | 2,889 | |||||||||||
Consultant Eight [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 1,599,150 | |||||||||||
Stock based compensation | 111,304 | |||||||||||
Consultant Nine [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Share based payment award, grants in period | 4,396,741 | |||||||||||
Stock based compensation | $ 79,504 |
Schedule of Deferred Share Unit
Schedule of Deferred Share Units (Details) - $ / shares | 12 Months Ended | |||||||
Jul. 02, 2022 | Mar. 31, 2022 | Apr. 21, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||
Number of shares, Unvested, Beginning balance | 576,000 | 988,990 | ||||||
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 0.62 | $ 0.39 | ||||||
Number of shares, Vested | (2,373,900) | (1,516,299) | ||||||
Weighted average grant date fair value per share, Vested | $ 0.18 | $ 0.41 | ||||||
Number of shares, Granted | 6,620,641 | 1,348,434 | ||||||
Weighted average grant date fair value per share, Granted | $ 0.17 | $ 0.38 | ||||||
Number of shares, Unvested, Ending balance | 4,822,741 | 576,000 | ||||||
Weighted average grant date fair value per share, Unvested, Ending balance | $ 0.22 | $ 0.62 | ||||||
Deferred Share Unit [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||
Number of shares, Unvested, Beginning balance | 5,625,000 | 7,500,000 | [1] | |||||
Weighted average grant date fair value per share, Unvested, Beginning balance | $ 1.03 | $ 1.03 | [1] | |||||
Number of shares, Vested | (625,000) | (3,125,000) | [2],[3] | (1,875,000) | ||||
Weighted average grant date fair value per share, Vested | $ 1.03 | [2],[3] | $ 1.03 | |||||
Number of shares, Granted | 210,000 | 7,500,000 | 210,000 | [1] | ||||
Weighted average grant date fair value per share, Granted | [3] | $ 0.20 | ||||||
Number of shares, Unvested, Ending balance | 2,710,000 | 5,625,000 | ||||||
Weighted average grant date fair value per share, Unvested, Ending balance | $ 1 | $ 1.03 | ||||||
[1]On April 21, 2020, the Company granted 7,500,000 5 210,000 12 282,967 421,284 2,500,000 573,742 2,500,000 750,000 375,000 0.30 625,000 |
Schedule of Deferred Share Un_2
Schedule of Deferred Share Units (Details) (Parenthetical) | 1 Months Ended | 12 Months Ended | ||||||||||
Jul. 02, 2022 shares | Mar. 31, 2022 shares | Apr. 21, 2020 shares | Apr. 30, 2022 shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 CAD ($) shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Number of shares, granted | 6,620,641 | 6,620,641 | 1,348,434 | |||||||||
Redemption shares | 2,500,000 | |||||||||||
Deferred share unit liability | $ | $ 573,742 | $ 1,531,409 | ||||||||||
Number of stock option, vested | 2,373,900 | 2,373,900 | 1,516,299 | |||||||||
Shares issued at $0.32 per share | $ | [1] | $ 6,168,069 | ||||||||||
Shares issued, shares | 1,315,856 | |||||||||||
Shares issued price per share | (per share) | $ 0.24 | $ 0.32 | $ 0.30 | $ 0.40 | ||||||||
Deferred Share Unit [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Director redeemed | 2,500,000 | |||||||||||
Shares issued at $0.32 per share | $ | $ 750,000 | |||||||||||
April 2022 Special Warrant [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Shares issued, shares | 375,000 | 375,000 | ||||||||||
Deferred Share Unit [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||
Number of shares, granted | 210,000 | 7,500,000 | 210,000 | [2] | 210,000 | [2] | ||||||
Grant date and expire in deferred share units | 5 years | |||||||||||
Vesting period | 12 months | |||||||||||
Stock based compensation | $ | $ 282,967 | $ 421,284 | ||||||||||
Deferred share unit liability | $ | $ 573,742 | |||||||||||
Number of stock option, vested | 625,000 | 3,125,000 | [3],[4] | 3,125,000 | [3],[4] | 1,875,000 | ||||||
[1]Units issued at C$ 0.40 0.32 7,500,000 5 210,000 12 282,967 421,284 2,500,000 573,742 2,500,000 750,000 375,000 0.30 625,000 |
Schedule of Income Tax Provisio
Schedule of Income Tax Provision (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Income tax rate | 21% | 21% |
Income (loss) before income taxes | $ 898,591 | $ (6,402,277) |
Expected income tax recovery | 188,704 | (1,344,478) |
Change in estimates in respect of prior periods | (41,351) | 837,195 |
Change in tax rate | 133,687 | 274,477 |
Change in fair value of derivative liability | (3,296,242) | (2,583,095) |
State and local taxes, net of federal benefit | (709,272) | (960,296) |
Other | 308 | 5,033 |
Change in valuation allowance | 3,724,166 | 3,771,164 |
Total |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 10,291,114 | $ 6,724,313 |
Mineral interest purchase option | 10,707,362 | |
Mining interests | 8,391,938 | |
EPA liabilities | 2,068,062 | |
Other deferred tax assets | 851,563 | 454,499 |
Valuation allowance | (21,602,677) | (17,886,174) |
Total |
Schedule of Components of Defer
Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 101,662 | $ 59,955 |
Equipment | (18,809) | |
Unrealized foreign exchange gain | (101,662) | (41,146) |
Total |
Income taxes (Details Narrative
Income taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Operating loss carryforwards | $ 40,227,950 | $ 26,356,908 |
Lessor, operating lease, description | The net operating loss carryforwards generated before 2018 expire between 2031 and 2037. The losses generated in 2018 and later tax years do not expire. |
Schedule of Related Party Trans
Schedule of Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transactions [Abstract] | ||
Consulting fees, wages and bonus | $ 1,429,326 | $ 901,210 |
Related party transactions (Det
Related party transactions (Details Narrative) | 1 Months Ended | 7 Months Ended | 12 Months Ended | |||||||
Apr. 30, 2022 shares | Dec. 30, 2022 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2021 USD ($) $ / shares shares | |||||
Related Party Transaction [Line Items] | ||||||||||
Shares issued @ $0.32 per share, shares | shares | 1,315,856 | |||||||||
Number of stock options, Granted | shares | 700,000 | [1] | 1,037,977 | [2] | ||||||
Weighted Average exercise price, Compensation Options Issued | $ / shares | $ 0.15 | [1] | $ 0.34 | [2] | ||||||
David Wiens [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | $ 383,315 | $ 276,315 | ||||||||
Grant date | 204,213 | |||||||||
Accrued salaries | 19,197 | $ 19,197 | $ 108,335 | $ 108,335 | ||||||
Number of stock options, Granted | shares | 1,037,977 | |||||||||
Number of vested stock option shares | shares | 273,271 | |||||||||
Number of option vested | shares | 764,706 | 764,706 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years | |||||||||
Weighted Average exercise price, Compensation Options Issued | $ / shares | $ 0.335 | |||||||||
Stock based compensation | $ 204,213 | |||||||||
Key Management Personnel [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Accounts payable and accrued liabilities | 154,797 | 154,797 | 279,554 | $ 279,554 | ||||||
Wayne Parsons [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | 147,287 | 120,127 | ||||||||
Stock Issued During Period, Shares, Issued for Services | shares | 2,500,000 | |||||||||
Stock Issued During Period, Value, Issued for Services | $ 582,027 | |||||||||
Richard Williams [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | 372,084 | 179,605 | ||||||||
Due to related parties | $ 135,600 | 135,600 | 108,719 | 108,719 | ||||||
Mr.Ash [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Restricted stock units | shares | 1,110,756 | |||||||||
Grant date | $ 20,085 | |||||||||
Sam Ash [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | 438,600 | 250,000 | ||||||||
Accrued salaries | 62,500 | $ 62,500 | ||||||||
MrAsh [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Restricted stock units | shares | 1,249,600 | |||||||||
Grant date | $ 22,596 | |||||||||
Pam Saxton [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | 36,133 | 37,669 | ||||||||
Cassandra Joseph [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | 36,133 | $ 37,494 | ||||||||
Mark Cruise [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Related party amount of transaction | $ 15,774 | |||||||||
Shares issued @ $0.32 per share, shares | shares | 210,000 | |||||||||
Mr.Wiens [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Restricted stock units | shares | 1,018,193 | |||||||||
Grant date | $ 18,411 | |||||||||
[1]On August 24, 2022, 300,000 150,000 5 0.15 28,930 15,594 1,037,977 273,271 764,706 5 0.335 204,213 nil 204,213 |
Subsequent events (Details Narr
Subsequent events (Details Narrative) | 1 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 31, 2023 shares | Mar. 28, 2023 CAD ($) $ / shares shares | Mar. 15, 2023 CAD ($) $ / shares | Feb. 15, 2023 USD ($) | Jan. 10, 2023 shares | Apr. 30, 2022 USD ($) shares | Apr. 30, 2022 CAD ($) shares | Dec. 31, 2021 $ / shares shares | Mar. 28, 2023 USD ($) $ / shares | Mar. 28, 2023 $ / shares | Mar. 15, 2023 $ / shares shares | Mar. 15, 2023 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2022 $ / shares shares | May 31, 2022 CAD ($) $ / shares | Feb. 28, 2022 $ / shares | Dec. 31, 2021 $ / shares | ||
Subsequent Event [Line Items] | ||||||||||||||||||
Common stock purchase warrants | shares | 162,129,064 | 162,129,064 | ||||||||||||||||
Proceeds from issuance if private placement | $ 9,384,622 | $ 11,796,297 | ||||||||||||||||
Shares issued price per share | (per share) | $ 0.32 | $ 0.24 | $ 0.30 | $ 0.40 | ||||||||||||||
Common Stock [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Issuance of outstanding convertible debt | shares | [1] | 417,720 | ||||||||||||||||
Warrant [Member] | Private Placement [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Exercise price shares | $ / shares | $ 0.37 | $ 0.37 | ||||||||||||||||
Issuance of private placement of warrants | shares | 37,849,325 | 37,849,325 | ||||||||||||||||
Shares issued price per share | $ / shares | $ 0.30 | $ 0.30 | ||||||||||||||||
Cash commission | $ | $ 563,968 | |||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Issuance of outstanding convertible debt | shares | 8,464,288 | 6,377,272 | ||||||||||||||||
Common stock purchase warrants | shares | 10,416,667 | 10,416,667 | ||||||||||||||||
Exercise price shares | (per share) | $ 10,416,667 | $ 0.11 | ||||||||||||||||
Warrant price | $ / shares | $ 0.37 | |||||||||||||||||
Warrant price | $ / shares | $ 0.15 | $ 0.11 | ||||||||||||||||
Proceeds from warrant exercises | $ | $ 1,145,834 | |||||||||||||||||
Subsequent Event [Member] | Common Stock [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Exercise price shares | $ / shares | $ 0.37 | |||||||||||||||||
Subsequent Event [Member] | Warrant [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Share price | $ / shares | $ 0.15 | |||||||||||||||||
Cash commission | $ | $ 211,461.38 | |||||||||||||||||
Warrants issued | shares | 2,070,258 | |||||||||||||||||
Subsequent Event [Member] | Warrant [Member] | Private Placement [Member] | ||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||
Proceeds from warrant exercises | $ | $ 6,196,047.26 | |||||||||||||||||
Proceeds from issuance if private placement | $ | $ 9,000,000 | |||||||||||||||||
Issuance of private placement of warrants | shares | 51,633,727 | |||||||||||||||||
Shares issued price per share | $ / shares | $ 0.12 | |||||||||||||||||
[1]Units issued at C$ 0.57 0.45 |