Blox (BLXX) 10-Q 14 Nov 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2014	Nov. 14, 2014
Document And Entity Information	'	'
Entity Registrant Name	'Blox, Inc.	'
Entity Central Index Key	'0001428389	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	108,411,814
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Consolidated_Interim_Statement

Consolidated Interim Statements of Financial Position (USD $)	Sep. 30, 2014	Mar. 31, 2014
Current Assets	'	'
Cash and Cash Equivalents	$299,074	$903,850
Accounts receivable	61,100	63,826
Prepaid expenses	145,746	235,502
Total Current Assets	505,920	1,203,178
Prepaid Expenses	'	115,423
Property, Plant and Equipment	556,986	812,060
Mineral Property Interest	931,722	'
Total Assets	1,994,628	2,130,661
Current Liabilities	'	'
Accounts payable and accrued liabilities	161,956	128,855
Royalty payments payable	65,710	66,570
Loans payable	60,290	60,290
Total current liabilities	287,956	255,715
STOCKHOLDERS' EQUITY	'	'
Common Stock, 400,000,000 authorized, 108,411,804 issued (Mar 31, 2014 - 101,572,464)	964	892
Additional paid-in capital	5,921,213	5,120,063
Contributed Surplus	2,554,944	2,299,319
Accumulated Other Comprehensive Income	267,498	339,847
Deficit	-7,037,947	-5,885,175
Total Stockholders' Equity	1,706,672	1,874,946
Total Liabilities and Stockholders' Equity	$1,994,628	$2,130,661

Consolidated_Interim_Statement1

Consolidated Interim Statements of Financial Position (Parenthetical)	Sep. 30, 2014	Mar. 31, 2014
Statement of Financial Position [Abstract]	'	'
Common Stock, shares authorized	400,000,000	400,000,000
Common Stock, shares issued	108,411,804	101,572,464
Common Stock, shares outstanding	108,411,804	101,572,464

Consolidated_Interim_Statement2

Consolidated Interim Statements of Comprehensive Loss (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Revenue	'	$293,872	'	$440,509
Royalties	'	-13,215	'	-13,215
Net Revenue	'	280,657	'	427,294
Cost of Sales	'	'	'	'
Cost of raw materials	3,755	262,903	70,072	480,650
Direct labour	-166	16,296	5,857	29,897
Amortization	47,284	61,730	104,129	122,238
Other	14,685	8	42,237	62
[us-gaap:CostOfGoodsAndServicesSold]	65,558	340,937	222,295	632,847
Gross loss	-65,558	-60,280	-222,295	-205,553
Operating Expenses	'	'	'	'
Consulting and professional fees	265,407	11,749	441,685	16,731
Foreign exchange	10,426	'	13,050	'
Interest expense	'	94,305	'	94,305
Office and administration	111,298	45,537	139,657	66,101
Other expense	'	273,163	'	273,163
Salaries	'	3,880	'	5,955
Share-based compensation	271,875	'	271,875	'
Website development	'	1,528	'	1,528
Total Operating Expenses	659,006	430,162	866,267	457,783
Loss on Disposal of Equipment	64,210	'	64,210	'
Net Loss for the Period	-788,774	-490,442	-1,152,772	-663,336
Unrealized loss gain on translation of foreign operations	-57,365	-400,407	-72,349	-54,824
Comprehensive Loss for the Period	($846,139)	($890,849)	($1,225,121)	($718,160)
Net Loss Per Common Share	($0.01)	($0.03)	($0.01)	($0.04)
Weighted Average Number of Shares Outstanding - Basic and diluted	103,436,047	15,892,062	104,091,321	15,892,062

Consolidated_Interim_Statement3

Consolidated Interim Statements of Changes in Equity (Deficiency) (USD $)	Common Stock	Additional Paid-In Capital	Contributed Surplus	Accumulated Other Comprehensive Income (Loss)	Deficit	Total
Beginning Balance at Mar. 31, 2013	'	$743,776	'	($249,012)	($1,399,511)	($904,747)
Balance (in Shares) at Mar. 31, 2013	15,892,062	'	'	'	'	'
Unrealized gain (loss) on translation of foreign operations	'	'	'	-54,824	'	-54,824
Net Loss	'	'	'	'	-663,336	-718,160
Ending Balance at Sep. 30, 2013	'	'	'	'	'	'
Balance (in Shares) at Sep. 30, 2013	15,892,062	743,776	'	-303,836	-2,062,847	-1,622,907
Beginning Balance at Mar. 31, 2013	'	'	'	'	'	'
Balance (in Shares) at Mar. 31, 2013	15,892,062	'	'	'	'	'
Debt converted for stock (shares)	100,310,000	'	'	'	'	'
Stock issued for cash (shares)	20,000,000	'	'	'	'	'
Stock issued for services (shares)	9,233,860	'	'	'	'	'
Ending Balance at Mar. 31, 2014	892	'	'	'	'	'
Balance (in Shares) at Mar. 31, 2014	101,572,464	'	'	'	'	'
Beginning Balance at Sep. 30, 2013	'	'	'	'	'	'
Balance (in Shares) at Sep. 30, 2013	15,892,062	743,776	'	-303,836	-2,062,847	-1,622,907
Unrealized gain (loss) on translation of foreign operations	'	'	'	643,683	'	643,683
Debt converted for stock	'	'	'	'	'	'
Debt converted for stock (shares)	100,310,000	2,129,805	'	'	'	2,129,805
Reverse acquisition	600	1,499,400	1,500,000	'	-3,055,425	-55,425
Reverse acquisition (shares)	-43,863,458	'	'	'	'	'
Stock issued for cash	200	499,800	500,000	'	'	1,000,000
Stock issued for cash (shares)	20,000,000	'	'	'	'	'
Stock issued for services	92	247,282	214,319	'	'	461,693
Stock issued for services (shares)	9,233,860	'	'	'	'	'
Stock options issued	'	'	'	85,000	'	85,000
Net Loss	'	'	'	'	-766,903	-766,903
Ending Balance at Mar. 31, 2014	892	5,120,063	2,299,319	339,847	-5,885,175	1,874,946
Balance (in Shares) at Mar. 31, 2014	101,572,464	'	'	'	'	101,572,464
Unrealized gain (loss) on translation of foreign operations	'	'	'	-72,349	'	-72,349
Stock issued on exercise of stock options	7	19,493	-16,250	'	'	3,250
Stock issued on exercise of stock options (shares)	325,000	'	'	'	'	325,000
Stock issued on acquisition of mineral property interest	65	781,657	'	'	'	781,722
Stock issued on acquisition of mineral property interest (shares)	6,514,350	'	'	'	'	6,514,350
Share-based compensation	'	'	271,875	'	'	271,875
Net Loss	'	'	'	'	-1,152,772	-1,225,121
Ending Balance at Sep. 30, 2014	$964	$5,921,213	$2,554,944	$267,498	($7,037,947)	$1,706,672
Balance (in Shares) at Sep. 30, 2014	108,411,814	'	'	'	'	108,411,804

Consolidated_Interim_Statement4

Consolidated Interim Statements of Cash Flows (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES	'	'
Net loss for the period	($1,152,772)	($663,336)
Non-cash adjustments:	'	'
Amortization	104,817	122,238
Share-based compensation	271,875	'
Equipment written off	64,210	'
Unrealized foreign exchange on translation of foreign operations	-56,923	47,048
Changes in non-cash working capital:	'	'
Accounts receivable	2,726	-29,964
Prepaid expenses	205,179	-128,613
Accounts payable	33,101	561,422
Royalty payments payable	'	12,533
Loans payable	'	-157,354
Interest payable	'	92,529
[us-gaap:NetCashProvidedByUsedInOperatingActivitiesContinuingOperations]	-527,787	-143,497
INVESTING ACTIVITIES	'	'
Acquisition of mineral property interest	-150,000	'
Acquisition of equipment	-6,518	11,260
Proceeds from disposal of equipment	79,529	'
[us-gaap:NetCashProvidedByUsedInInvestingActivities]	-76,989	11,260
FINANCING ACTIVITIES	'	'
Proceeds from long-term debt	'	115,557
[us-gaap:NetCashProvidedByUsedInFinancingActivities]	'	115,557
Decrease in Cash and Cash Equivalents	-604,776	-16,680
Cash and Cash Equivalents, Beginning of Period	903,850	22,285
Cash and Cash Equivalents, End of Period	$299,074	$5,605

Description_of_Business

Description of Business	6 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Description of Business	'
		1	Description of Business
	Blox, Inc. (the "Company") was incorporated on July 21, 2005 under the laws of the state of Nevada. The address of the Company is 600 – 666 Burrard Street, Vancouver, British Columbia, V6C 3P6. The Company is primarily engaged in sourcing, developing, and operating renewable energy projects in Europe as well as mineral exploration projects in Africa.
	On February 27, 2014, the Company completed a business combination with International Eco Endeavors Corp. (“Eco Endeavors”) which has now been renamed “Blox Energy Inc.” The holders of Eco Endeavors’ common shares received 60,000,000 units of the Company on a pro-rata bais with a deemed value of $0.05 per unit.
	The Company's biogas asset in Hungary is currently undergoing care and maintenance and the Company has elected to cancel its power contract during this idle time. The contract was between MAVIR Zrt. and Kenderes Biogáz Termelo Kft., the Company's subsidiary, for the sale of up to 5,842 megawatt-hours per year from July 2007 to December 2020. The power could be sold at three different rates each day: 37.72 Hungarian Forints per kilowatt-hour (HUF/kWh) at peak hours; 33.76 HUF/kWh at midday hours, and 13.75 HUF/kWh at night hours. The request was submitted on April 26, 2014 and approved on May 23, 2014 for termination on June 1, 2014. There were no penalties for the termination. Once the care and maintenance process has concluded, the Company will utilize the opportunity and seek competitive rates before establishing a new contract.

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	2. Basis of Presentation
	(a) Statement of Compliance
	These consolidated interim financial statements are presented in accordance with generally accepted accounting principles in the United States ("US GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") and are expressed in U.S. dollars. The Company's fiscal year-end is March 31.
	(b) Basis of Presentation
	The consolidated interim financial statements of the Company comprise the Company and its subsidiaries. The accounting policies followed in preparing these consolidated financial statements are the same as those set out in the audited consolidated financial statements of the Company for the year ended March 31, 2014. Certain information and note disclosures normally included for annual consolidated financial statements prepared in accordance with U.S. GAAP have been omitted. These consolidated interim financial statements should be read together with the audited consolidated financial statements of the Company for the year ended March 31, 2014.
	In the opinion of management, all adjustments considered necessary (including reclassifications and normal recurring adjustments) to present fairly the financial position, results of operations and cash flows at September 30, 2014 and for all periods presented, have been included in these financial statements. The interim results are not necessarily indicative of results for the full year ending March 31, 2015, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2014, including the accounting policies and notes thereto.
	These consolidated interim financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net loss of $1,152,772 for the six months ended September 30, 2014, and has incurred cumulative losses since inception of $7,037,947. These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern
	(b) Basis of Presentation (Continued)
	is dependent upon the continued financial support from its shareholders and the ability of the Company to obtain necessary equity financing to continue operations. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan to sustain operations for the next fiscal year including plans to raise additional equity financing, controlling costs and reducing operating losses.

Accounting_Standards_Issued_Bu

Accounting Standards Issued But Not Yet Adopted	6 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Accounting Standards Issued But Not Yet Adopted	'
	3. Accounting Standards Issued But Not Yet Adopted
	In January 2014, the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) guidance was issued relating to service concession arrangements. This guidance states that certain service concession arrangements with public-sector grantors are not within the scope of lease accounting. Operating entities entering into these arrangements should not recognize the related infrastructure as its property, plant and equipment and should apply other accounting guidance. The updated guidance becomes effective for the Company beginning January 1, 2015.
	In April 2014, ASC guidance was issued related to discontinued operations which changed the criteria for determining which disposals can be presented as discontinued operations and modified related disclosure requirements. The updated guidance requires an entity to only classify discontinued operations due to a major strategic shift or a major effect on an entity’s operations in the financial statements. The updated guidance will also require additional disclosures relating to discontinued operations. The updated guidance becomes effective for the Company beginning January 1, 2015.
	The Company has not assessed the impact, if any, of the standards that become effective January 1, 2015.

Property_Plant_and_Equipment

Property, Plant, and Equipment	6 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant, and Equipment	'
	4. Property, Plant, and Equipment
			Land		Building		Machinery		Total
	Cost
	Balance at March 31, 2014	$	4,830	$	507,286	$	742,916	$	1,255,032
	Acquisition		-		-		6,518		6,518
	Additions (disposals)		-		-		-393,298		-393,298
	Balance at September 30, 2014		4,830		507,286		356,136		868,252
	Accumulated Depreciation
	Balance at March 31, 2014		-		271,665		171,307		442,972
	Depreciation for the year		-		30,409		74,408		104,817
	Disposals		-				-236,523		-236,523
	Balance at September 30, 2014		-		302,074		9,192		311,266
	Carrying amounts
	As at September 30, 2014	$	4,830	$	205,212	$	346,944	$	556,986
	Carrying amounts
	As at March 31, 2014	$	4,830	$	235,505	$	571,725	$	812,060

Mineral_Property_Interest

Mineral Property Interest	6 Months Ended
	Sep. 30, 2014
Extractive Industries [Abstract]	'
Mineral Property Interest	'
	5. Mineral Property Interest
	The Company has entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the "Assumption Agreement") with Joseph Boampong Memorial Institute Ltd. ("JBMIL") and Equus Mining Ltd. ("EML"), Burey Gold Guinee sarl ("BGGs") and Burey Gold Limited ("BGL") and, collectively with EML and BGGs, (the "Vendors"), pursuant to which the Company has agreed to assume JBMIL's right to acquire a 78% beneficial interest in the Mansounia Concession (the "Property") from the Vendors. The Company also announces that it has exercised that right and has acquired a 78% beneficial interest in the Property.
	The Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Property is located approximately 80 kilometres west, by road, from the country's third largest city, Kankan.
	An exploration permit for the Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. As part of its due diligence, Blox obtained a legal opinion which confirmed that the license remains in good standing. It is the Company's intention to obtain an exploitation permit, which would give the Company the exclusive right to mine and dispose of minerals for 15 years, with a possible 5 year extension. The Company has already commenced work on the feasibility study required for obtaining this permit.
	In consideration for the acquisition of the interest in the Property, the Company has paid in cash $107,143 to BGL and $42,857 to EML and issued BGL and EML an aggregate of 6,514,350 shares of common stock of the Company (the "First Tranche Shares"), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment of $150,000 plus $781,722 as the fair value of the First Tranche Shares in mineral interest. The fair value of the First Tranche Shares was based on the closing price of the Company’s shares on the OTCQB on July 24, 2014.
	Within 14 days of commercial gold production being publicly declared from ore mined from the Property, the Company will issue BGL and EML a second tranche of shares of common stock of the Company (the "Second Tranche Shares"). The number of Second Tranche Shares to be issued shall be calculated by dividing US$1,150,000 by the volume weighted average share price of the Company's common stock over a 20 day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

Related_Parties_and_Loans_Paya

Related Parties and Loans Payable	6 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Related Parties and Loans Payable	'
	6. Related Parties and Loans Payable
	The Company undertakes transactions with related parties that are generally on the same terms as those accorded to unrelated third parties. In addition to the shares for services transactions disclosed in the share capital note, the Company completed transactions with Emerald Power Consulting Inc. (“Emerald”), which has a common director and officer with the Company. During the three months ended September 30, 2014, the Company paid consulting and office and administrative expense to Emerald amounting to $31,500 (2013 - $nil) and $11,847 (2013 - $25,133), respectively. During the six months ended September 30, 2014, the Company paid consulting and office and administrative expense to Emerald amounting to $63,000 (2013 - $nil) and $23,475 (2013 - $44,337), respectively. As of September 30, 2014, $22,659 of royalty was payable to Emerald and $43,141 (March 31, 2014 - $43,707) to the Company’s majority shareholder as described in Note 7.
	At September 30, 2014 and March 31, 2014, the Company was indebted to arm’s length parties in the amount of $60,290. The loans payable are unsecured, non-interest bearing and have no fixed repayment terms.

Royalty_Payments

Royalty Payments	6 Months Ended
	Sep. 30, 2014
Notes to Financial Statements	'
Royalty Payments	'
	7. Royalty Payments
	The Company was required to make royalty payments of 3% of revenues to its previously long-term debt holder and currently majority shareholder. For the three and six months ended September 30, 2014, there was no royalty expense. For the three and six months ended September 30, 2013 royalty expense amounted to $13,215 As of September 30, 2014, $43,141 is included in royalty payments payable (March 31, 2014 - $43,707) to the Company’s majority shareholder.
	Additionally, the Company is required to make royalty payments of 10% of earnings before interest, taxes, depreciation and amortization to an arms-length corporation in exchange for financial and advisory services. These royalties are calculated on a quarterly basis. For the three months ended September 30, 2014 and 2013, there was no royalty expense. During the three months ended September 30, 2014, Emerald paid the full amount owing to the royalty holder and assumed the royalty holder’s royalty receivable from the Company. As of September 30, 2014, $22,569 is owed to Emerald (March 31, 2014 - $22,863 owed to the previous royalty holder).

Share_Capital

Share Capital	6 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Share Capital	'
	8. Share Capital
	Common Stock issued and fully paid:
		Number of Common Shares
	Balance, March 31, 2013 and September 30, 2013	15,892,062
	Debt converted for common stock	100,310,000
	Common stock cancelled on reverse merger	-103,863,458
	Issuance of common stock on reverse merger	60,000,000
	Issuance of common stock for cash	20,000,000
	Issuance of common stock for services	9,233,860
	Balance, March 31, 2014	101,572,464
	Issuance of common stock on exercise of stock options	325,000
	Issuance of common stock on acquisition of mineral property interest	6,514,350
	Balance, September 30, 2014	108,411,814
	On June 19, 2013, the Company entered into an agreement (the “Amalgamation Agreement”), among Ourco Capital Ltd. (“Ourco”), the Company’s wholly-owned subsidiary, International Eco Endeavors Corp., a private British Columbia, Canadian corporation (“Eco Endeavors”), and its wholly-owned subsidiaries Kenderesh Endeavors Corp. (“Kenderesh”), and Kenderes Biogáz. The Company closed the Amalgamation Agreement and completed the amalgamation of Ourco and Eco Endeavors under the name “Blox Energy Inc.” (“Amalco”), thereby acquiring all of the issued and outstanding shares of Blox Energy Inc, on February 27, 2014.
	Pursuant to the Amalgamation Agreement, the Company issued 60,000,000 units for a total consideration of $3,000,000 on February 27, 2014, each unit consisting of one common share and one share purchase warrant, each warrant exercisable into an additional common share of the Company at an exercise price of $0.05 per share for a period of five years from the closing date.
	In connection with the closing of the Amalgamation Agreement on February 27, 2014, the Company completed a non-brokered private placement, pursuant to which the Company issued an aggregate of 20,000,000 units at a price of $0.05 per unit for gross proceeds of $1,000,000. Each unit consisted of one common share and one share purchase warrant, each warrant entitling the holder to acquire an additional common share at the exercise price of $0.05 for a period of 5 years from the closing of the financing.
	Pursuant to a consulting agreement dated February 27, 2014 between the Company and Robert Abenante, a director and officer of the Company, Mr. Abenante was issued an additional 9,233,860 common shares of the Company and 8,000,000 share purchase warrants (the “Abenante Stock”) entitling Mr. Abenante to acquire additional common shares at the exercise price of $0.05 for a period of 5 years from February 27, 2014. The entry into the consulting agreement was a condition of closing of the Amalgamation Agreement. The Abenante Stock is subject to an escrow agreement whereby 25% of the Abenante Stock was released on February 27, 2014 (“Start Date”), 25% was released on August 27, 2014, 25% will be released 12 months from the Start Date and 25% will be released 18 months from the Start Date, providing Mr. Abenante remains an officer of the Company failing which the non-released Abenante Stock will be returned to the Company.
	The fair value of the common shares included in the Abenante Stock of $0.05 per common share was based on the price of the non-brokered private placement on February 27, 2014. The fair value of the warrants of included in the Abenante Stock was based on the Black-Scholes option pricing model using input assumptions of a risk free interest rate of 1.49%, volatility of 149%, expected dividend yield of zero and expected life of 5 years. The fair value of the current year Abenante Stock is expensed in the statement of operations over the escrow period on a straight-line basis with $115,425 expensed during the year ended March 31, 2014 and $97,478 and $219,948 expensed in the three month and six month period ended September 30, 2014, respectively (2013 - $nil). The remainder includes current prepaid expenses of $126,321 (March 31, 2014 - $230,846) and long term prepaid expenses of $nil (March 31, 2014 - $115,423).
	Warrants
	The Company’s outstanding warrants as at September 30, 2014 and March 31, 2014 were as follows:
			Weighted Average Exercise Price		Remaining Life (Years)
		Number of Warrants		Expiry
				Date
	31-Mar-13	-
	Issued on reverse acquisition	60,000,000	$0.05	27-Feb-19	4.4
	Issued for cash	20,000,000	$0.05	27-Feb-19	4.4
	Issued for prepaid services	8,000,000	$0.05	27-Feb-19	4.4
	September 30, 2014 and March 31, 2014	88,000,000
	Stock Options
	On the closing of the Amalgamation Agreement on February 27, 2014, the Company granted 1,700,000 stock options to directors and employees. Each stock option is exercisable at a price of $0.01 per share until expiry on the date that is 5 years from February 27, 2014. All stock options vested on February 27, 2014, but are subject to an escrow agreement whereby common stock issued on the exercise of the stock options will be held in escrow to be released as to 25% on February 27, 2014 (“Release Date”), 25% 6 months from the Release Date, 25% 12 months from the Release Date and 25% 18 months from the Release Date, providing the stock option holder remains with the Company failing which the escrowed common shares will be returned to the Company. Each stock option had a fair value of $0.05, which was based on the Black-Scholes option pricing model. The fair value of the stock options is expensed in the statements of comprehensive loss (income) with $85,000 expensed during the year ended March 31, 2014. On August 9, 2014, the exercise price of 1,000,000 stock options previously granted to two directors was amended to $0.05 from $0.01 and there was no impact to the fair value as a result of the re-pricing.
	On August 7, 2014, the Company granted 4,500,000 stock options to directors and consultants. These stock options have an exercise price of $0.15 and expire on August 7, 2019 with 25% vesting on the date of grant and 25% vesting every six months after the date of grant. Each stock option had a fair value of $0.15, which was based on the Black-Scholes option pricing model. The fair value of the stock options is expensed in the statements of comprehensive loss (income) with $271,875 expensed during the three months ended September 30, 2014.
	The share-based compensation for stock options granted was estimated using the Black-Scholes option pricing model with the following assumptions:
	Assumptions
	Risk-free interest rate	1.49% - 1.6%
	Expected stock price volatility	149% - 203%
	Expected dividend yield and forfeiture	0.00%
	Expected life of options	5 years
	The following table summarizes historical information about the Company’s incentive stock options:
		Six Months Ended                                September 30, 2014		Year Ended                                March 31, 2014
		Number of Options	Weighted Average Exercise Price	Number of Options	Weighted Average Exercise Price
	Options Outstanding – beginning of period	1,700,000	$0.03	-	-
	Granted	4,500,000	$0.15	1,700,000	$0.03
	Exercised	-325,000	0.01	-	-
	Forfeited	-375,000	$0.01	-	-
	Options Outstanding – end of period	5,500,000	$0.13	1,700,000	$0.03
	At September 30, 2014, the following stock options were outstanding and exercisable:
	Exercise Price	Expiry Date	Options Outstanding	Weighted Avg. Remaining in Years	Options Exercisable
	$0.05	27-Feb-19	1,000,000	4.4	1,000,000
	$0.15	7-Aug-19	4,500,000	4.9	1,125,000
			5,500,000	4.8	2,125,000
	On October 27, 2014, the Company granted 500,000 stock options to consultants. These stock options have an exercise price of $0.15 and expire on October 27, 2019 with 25% vesting on the date of grant and 25% vesting every six months after the date of grant.

Commitments

Commitments	6 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments	'
	9. Commitments
		(a)	On June 22, 2013, the Company entered into a share purchase agreement with Waratah Investments Limited (“Waratah”) where the Company shall purchase all of Waratah’s right, title, and interest in the Quivira Gold Ltd. (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah Investments, owns and operates gold and diamond mining properties in Ghana.
	The closing of the agreement is subject to the completion of due diligence and the completion of a private placement. The Agreements provide that closing is subject to completion of a private placement financing of up to $1,500,000, consisting of units priced at $0.05 per unit, with each unit comprising a share in the common stock of the Company and a share purchase warrant, exercisable at $0.05 for five years. As of the issuance date of these financial statements, the due diligence and financing has not yet been completed.
		(b)	On November 1, 2013, the Company entered into an agreement to lease office premises for $3,188 per month until October 31, 2015.

Geographical_Area_Information

Geographical Area Information	6 Months Ended
	Sep. 30, 2014
Geographical Area Information	'
Geographical Area Information	'
	10. Geographical Area Information
			Canada		Hungary		Guinea		Total
	September 30, 2014:
	Prepaid expenses	$	-		-	$	-	$	-
	Property, plant and equipment		-		556,986				556,986
	Mineral interest						931,722		931,722
	Total assets	$	378,918	$	683,988		931,722	$	1,994,628
	Total liabilities	$	238,072		49,884		-	$	287,956
	March 31, 2014:
	Prepaid expenses	$	115,423		-		-	$	115,423
	Property, plant and equipment		-		812,060		-		812,060
	Total assets	$	1,233,630	$	897,031		-	$	2,130,661
	Total liabilities	$	192,581		63,134		-	$	255,715
			Three Months Ended				Six Months Ended
			30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Net Loss - Canada	$	659,005	$	635,682	$	866,268	$	663,336
	Net Loss - Hungary		129,769		-           145,240		286,504		-
	Net Loss - Guinea		-		-		-		-
	Net loss for the Period	$	788,774	$	490,442	$	1,152,772	$	663,336
	All of the Company’s sales were in Hungary and the Company derived 99% of its sales from MAVIR Zrt.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	6 Months Ended
	Sep. 30, 2014
Supplemental Cash Flow Elements [Abstract]	'
Supplemental Cash Flow Information	'
	11. Supplemental Cash Flow Information
	During the six months ended September 30, 2014, the Company issued 6,514,350 shares of common stock valued at $781,722 for the acquisition of the Mansounia mineral property interest and 325,000 shares of common stock for consulting services and exercise of stock options as non-cash investing and financing activities (2013 - nil).

Property_Plant_and_Equipment_T

Property, Plant, and Equipment (Tables)	6 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant, and Equipment Carrying Amounts	'
			Land		Building		Machinery		Total
	Cost
	Balance at March 31, 2014	$	4,830	$	507,286	$	742,916	$	1,255,032
	Acquisition		-		-		6,518		6,518
	Additions (disposals)		-		-		-393,298		-393,298
	Balance at September 30, 2014		4,830		507,286		356,136		868,252
	Accumulated Depreciation
	Balance at March 31, 2014		-		271,665		171,307		442,972
	Depreciation for the year		-		30,409		74,408		104,817
	Disposals		-				-236,523		-236,523
	Balance at September 30, 2014		-		302,074		9,192		311,266
	Carrying amounts
	As at September 30, 2014	$	4,830	$	205,212	$	346,944	$	556,986
	Carrying amounts
	As at March 31, 2014	$	4,830	$	235,505	$	571,725	$	812,060

Share_Capital_Tables

Share Capital (Tables)	6 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Schedule Of Stockholders Equity	'
		Number of Common Shares
	Balance, March 31, 2013 and September 30, 2013	15,892,062
	Debt converted for common stock	100,310,000
	Common stock cancelled on reverse merger	-103,863,458
	Issuance of common stock on reverse merger	60,000,000
	Issuance of common stock for cash	20,000,000
	Issuance of common stock for services	9,233,860
	Balance, March 31, 2014	101,572,464
	Issuance of common stock on exercise of stock options	325,000
	Issuance of common stock on acquisition of mineral property interest	6,514,350
	Balance, September 30, 2014	108,411,814
Outstanding Warrants	'
			Weighted Average Exercise Price		Remaining Life (Years)
		Number of Warrants		Expiry
				Date
	31-Mar-13	-
	Issued on reverse acquisition	60,000,000	$0.05	27-Feb-19	4.4
	Issued for cash	20,000,000	$0.05	27-Feb-19	4.4
	Issued for prepaid services	8,000,000	$0.05	27-Feb-19	4.4
	September 30, 2014 and March 31, 2014	88,000,000
Share-Based Compensation For Stock Options Granted Assumptions	'
	Assumptions
	Risk-free interest rate	1.49% - 1.6%
	Expected stock price volatility	149% - 203%
	Expected dividend yield and forfeiture	0.00%
	Expected life of options	5 years
Stock Options	'
		Six Months Ended                                September 30, 2014		Year Ended                                March 31, 2014
		Number of Options	Weighted Average Exercise Price	Number of Options	Weighted Average Exercise Price
	Options Outstanding – beginning of period	1,700,000	$0.03	-	-
	Granted	4,500,000	$0.15	1,700,000	$0.03
	Exercised	-325,000	0.01	-	-
	Forfeited	-375,000	$0.01	-	-
	Options Outstanding – end of period	5,500,000	$0.13	1,700,000	$0.03
Stock Options Were Outstanding And Exercisable	'
	Exercise Price	Expiry Date	Options Outstanding	Weighted Avg. Remaining in Years	Options Exercisable
	$0.05	27-Feb-19	1,000,000	4.4	1,000,000
	$0.15	7-Aug-19	4,500,000	4.9	1,125,000
			5,500,000	4.8	2,125,000

Geographical_Area_Information_

Geographical Area Information (Tables)	6 Months Ended
	Sep. 30, 2014
Geographical Area Information	'
Assets and Liabilities by Geographical Area	'
			Canada		Hungary		Guinea		Total
	September 30, 2014:
	Prepaid expenses	$	-		-	$	-	$	-
	Property, plant and equipment		-		556,986				556,986
	Mineral interest						931,722		931,722
	Total assets	$	378,918	$	683,988		931,722	$	1,994,628
	Total liabilities	$	238,072		49,884		-	$	287,956
	March 31, 2014:
	Prepaid expenses	$	115,423		-		-	$	115,423
	Property, plant and equipment		-		812,060		-		812,060
	Total assets	$	1,233,630	$	897,031		-	$	2,130,661
	Total liabilities	$	192,581		63,134		-	$	255,715
Profit Loss by Geographical Area	'
			Three Months Ended				Six Months Ended
			30-Sep-14		30-Sep-13		30-Sep-14		30-Sep-13
	Net Loss - Canada	$	659,005	$	635,682	$	866,268	$	663,336
	Net Loss - Hungary		129,769		-           145,240		286,504		-
	Net Loss - Guinea		-		-		-		-
	Net loss for the Period	$	788,774	$	490,442	$	1,152,772	$	663,336

Property_Plant_and_Equipment_D

Property, Plant, and Equipment (Details) - Property, Plant, and Equipment Carrying Amounts (USD $)	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
			Land [Member]	Building [Member]	Machinery [Member]	Total [Member]
Cost Balance at March 31, 2014	'	'	$4,830	$507,286	$742,916	$1,255,032
Acquisition	'	'	'	'	-393,298	-393,298
Additions (disposals)	'	'	'	'	-393,298	-393,298
Cost Balance at September 30, 2014	'	'	4,830	507,286	356,136	868,252
Accumulated Depreciation March 31, 2014	'	'	'	271,665	171,307	442,972
Depreciation for the year	'	'	'	30,409	74,408	104,817
Disposals	'	'	'	'	-236,523	-236,523
Accumulated Depreciation Balance at September 30, 2014	'	'	'	302,074	9,192	311,266
Carrying Amounts As at September 30, 2014	556,986	812,060	4,830	205,212	346,944	556,986
Carrying Amounts As at March 31, 2014	$556,986	$812,060	$4,830	$235,505	$571,725	$812,060

Share_Capital_Details_Schedule

Share Capital (Details) - Schedule Of Stockholders Equity	6 Months Ended		12 Months Ended
	Sep. 30, 2014	Mar. 31, 2014	Mar. 31, 2014
Beginning Balance	101,572,464	'	'
Debt converted for common stock	'	2,129,805	'
Issuance of common stock on exercise of stock options	325,000	'	'
Issuance of common stock on acquisition of mineral property interest	6,514,350	'	'
Ending Balance	108,411,814	101,572,464	101,572,464
Common Stock	'	'	'
Beginning Balance	101,572,464	'	15,892,062
Debt converted for common stock	'	100,310,000	100,310,000
Common stock cancelled on reverse acquisition	'	'	-103,863,458
Issuance of common stock on reverse merger	'	'	60,000,000
Issuance of common stock for cash	'	20,000,000	20,000,000
Issuance of common stock for services	'	9,233,860	9,233,860
Issuance of common stock on exercise of stock options	325,000	'	'
Issuance of common stock on acquisition of mineral property interest	6,514,350	'	'
Ending Balance	'	101,572,464	101,572,464

Share_Capital_Details_Outstand

Share Capital (Details) - Outstanding Warrants (USD $)	6 Months Ended
	Sep. 30, 2014
Issued On Reverse Acquisition [Member]	'
Options	60,000,000
Weighted Average Exercise Price	$0.05
Expiry Date	27-Feb-19
Remaining Life (Years)	'4 years 5 months
Issued For Cash [Member]	'
Options	20,000,000
Weighted Average Exercise Price	$0.05
Expiry Date	27-Feb-19
Remaining Life (Years)	'4 years 5 months
Issued For Prepaid Services [Member]	'
Options	8,000,000
Weighted Average Exercise Price	$0.05
Expiry Date	27-Feb-19
Remaining Life (Years)	'4 years 5 months

Share_Capital_Details_ShareBas

Share Capital (Details) - Share-Based Compensation For Stock Options Granted Assumptions	3 Months Ended
	Sep. 30, 2014
Expected dividend yield and forfeiture	0.00%
Expected life of options	'5 years
Maximum [Member]	'
Risk-free interest rate	1.49%
Expected stock price volatility	149.00%
Maximum [Member]	'
Risk-free interest rate	1.60%
Expected stock price volatility	203.00%

Geographical_Area_Information_1

Geographical Area Information (Details) - Assets and Liabilities by Geographical Area (USD $)	Sep. 30, 2014	Mar. 31, 2014
Mineral interest	$931,722	'
Total assets	1,994,628	2,130,661
Canada [Member]	'	'
Prepaid expenses	'	115,423
Property, plant and equipment	'	'
Mineral interest	'	'
Total assets	378,918	1,233,630
Total liabilities	238,072	192,581
Hungry [Member]	'	'
Prepaid expenses	'	'
Property, plant and equipment	556,986	812,060
Mineral interest	'	'
Total assets	'	897,031
Total liabilities	49,884	63,134
Guinea [Member]	'	'
Prepaid expenses	'	'
Property, plant and equipment	'	'
Mineral interest	931,722	'
Total assets	931,722	'
Total liabilities	'	'
Total [Member]	'	'
Prepaid expenses	'	115,423
Property, plant and equipment	'	812,060
Mineral interest	'	'
Total assets	'	2,130,661
Total liabilities	'	$255,715

Geographical_Area_Information_2

Geographical Area Information (Details) - Profit Loss by Geographical Area (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net Loss	($65,558)	($60,280)	($222,295)	($205,553)
Net loss for the Period	-788,774	-490,442	-1,152,772	-663,336
Canada [Member]	'	'	'	'
Net Loss	659,005	635,682	866,268	663,336
Hungry [Member]	'	'	'	'
Net Loss	129,769	145,240	286,504	'
Guinea [Member]	'	'	'	'
Net Loss	'	'	'	'
Total [Member]	'	'	'	'
Net loss for the Period	$788,774	$490,442	$1,152,772	$663,336

Description_of_Business_Detail

Description of Business (Details Narrative) (USD $)	6 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Common Shares Received	60,000,000
Deemed Value Per Unit	$0.05

Basis_of_Presentation_Details_

Basis of Presentation (Details Narrative) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Mar. 31, 2014
Accounting Policies [Abstract]	'	'	'	'
Net loss for the period	($1,152,772)	($663,336)	$1,152,772	'
Deficit	$7,037,947	'	$7,037,947	$5,885,175

Mineral_Property_Interest_Deta

Mineral Property Interest (Details Narrative) (USD $)	6 Months Ended
	Sep. 30, 2014
Aggregate Shares Of Common Stock	6,514,350
Aggregate, price per share	$0.18
Aggregate, deemed value	$1,150,000
BGL [Member]	'
Acquisition Cash Paid	107,143
Percentage Aggregate Shares Offered	71.43%
EML [Member]	'
Acquisition Cash Paid	$42,857
Percentage Aggregate Shares Offered	28.57%

Related_Parties_and_Loans_Paya1

Related Parties and Loans Payable (Details Narrative) (USD $)	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2014	Mar. 31, 2014
			Emerald Power Consulting Inc. [Member]	Emerald Power Consulting Inc. [Member]	Emerald Power Consulting Inc. [Member]	Emerald Power Consulting Inc. [Member]	Arm's Length Parties [Member]	Arm's Length Parties [Member]	Majority Shareholder [Member]	Majority Shareholder [Member]
Consulting	'	'	$31,500	'	$63,000	'	'	'	'	'
Office And Administrative Expense	'	'	11,847	25,133	23,475	44,337	'	'	'	'
Royalty Payable	65,710	66,570	22,659	'	22,659	'	'	'	43,141	43,707
Loans Payable	$60,290	$60,290	'	'	'	'	$60,290	$60,290	'	'

Royalty_Payments_Details_Narra

Royalty Payments (Details Narrative) (USD $)	3 Months Ended	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2014
			Emerald Power Consulting Inc. [Member]	Emerald Power Consulting Inc. [Member]
Royalty Payments Rate	3.00%	3.00%	'	'
Royalty Expense	$13,215	$13,215	'	'
Royalty Receivable (Payable to Emerald)	'	'	$22,569	$22,863

Share_Capital_Details_Narrativ

Share Capital (Details Narrative) (USD $)	Sep. 30, 2014	Mar. 31, 2014	Feb. 27, 2014	Feb. 27, 2014	Feb. 27, 2014
			Abenante [Member]	Amalgamation Agreement [Member]	Amalgamation Agreement [Member]
					Private Placement [Member]
Shares Issuance	108,411,804	101,572,464	9,233,860	60,000,000	20,000,000
Shares Issuance, value	'	'	'	$3,000,000	$1,000,000
Share Issuance, par value	'	'	'	'	$0.05
Warrant Offering	'	'	'	'	'Each unit consisted of one common share and one share purchase warrant, each warrant entitling the holder to acquire an additional common share at the exercise price of $0.05 for a period of 5 years from the closing of the financing.
Warrants	'	'	8,000,000	'	'
Warrant, per share	'	'	$0.05	'	'
Warrants, Fair Value	'	'	'The fair value of the common shares included in the Abenante Stock of $0.05 per common share was based on the price of the non-brokered private placement on February 27, 2014. The fair value of the warrants of included in the Abenante Stock was based on the Black-Scholes option pricing model using input assumptions of a risk free interest rate of 1.49%, volatility of 149%, expected dividend yield of zero and expected life of 5 years. The fair value of the current year Abenante Stock is expensed in the statement of operations over the escrow period on a straight-line basis with $115,425 expensed during the year ended March 31, 2014 and $97,478 and $219,948 expensed in the three month and six month period ended September 30, 2014, respectively (2013 - $nil). The remainder includes current prepaid expenses of $126,321 (March 31, 2014 - $230,846) and long term prepaid expenses of $nil (March 31, 2014 - $115,423).	'	'

Commitments_Details_Narrative

Commitments (Details Narrative) (USD $)	6 Months Ended
	Sep. 30, 2014
Waratah Investments Limited [Member]	'
Shares Issued	60,000,000
Options Issued	60,000,000
Exercise Price	$0.05
Exercisable Duration	'5 years
Private Financing	$1,500,000
Lease Agreement [Member]	'
Lease (monthly)	$3,188

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Details Narrative) (USD $)	Sep. 30, 2014	Mar. 31, 2014
Shares Issuance	108,411,804	101,572,464
Mansounia Mineral Property [Member]	'	'
Shares Issuance	6,514,350	'
Shares Issuance, value	781,722	'
Consulting Services [Member]	'	'
Shares Issuance	325,000	'