Blox (BLXX) 10-Q 20 Aug 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2018	Aug. 20, 2018
Document And Entity Information
Entity Registrant Name	Blox, Inc.
Entity Central Index Key	1,428,389
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Trading symbol	blxx
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		142,366,414
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,019

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Current Assets
Cash (Note 8)	$ 4,625	$ 28,481
Prepaid expenses	7,269	4,167
Total Current Assets	11,894	32,648
Long term investments (Note 4)	335,569	113,008
Equipment (Note 5)	71,560	71,560
Mineral Property Interest (Note 6)	931,722	931,722
Total Assets	1,350,745	1,148,938
Current Liabilities
Accounts payable and accrued liabilities	92,960	103,977
Due to shareholder (Note 11)	124,211	56,200
Total Liabilities	217,171	160,177
STOCKHOLDERS' EQUITY
Common Stock - 400,000,000 authorized - 142,366,414 issued (March 31, 2017 - 108,611,814)	1,305	967
Additional paid-in capital	7,303,136	5,957,211
Share subscriptions received		1,469,516
Contributed Surplus	4,533,437	4,379,700
Accumulated Other Comprehensive Income	138,731	35,794
Deficit	(10,843,035)	(10,854,427)
Total Stockholders' Equity	1,133,574	988,761
Total Liabilities and Stockholders' Equity $	$ 1,350,745	$ 1,148,938

Condensed Interim Consolidated3

Condensed Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Jun. 30, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Common Stock, shares authorized	400,000,000	400,000,000
Common Stock, shares issued	142,366,414	108,611,814
Common Stock, shares outstanding	142,366,414	108,611,814

Condensed Interim Consolidated4

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Expenses
Consulting and professional fees (Note 11)	$ 61,104	$ 91,062
Depreciation		193
Exploration (Note 6)	3,844	19,584
Foreign exchange	1,237	21,654
Office and administration fees (Note 11)	9,392	10,490
Travel	8,852	2,311
Total Operating Expenses	(84,429)	(145,294)
Other Income
Unrealized gain on investment in warrants (Note 4)	95,774
Interest income	47
Net Income (Loss) for the Period	11,392	(145,294)
Other Comprehensive Income
Unrealized gain on investment in common shares (Note 4)	102,937
Comprehensive Income (Loss) for the Period	$ 114,329	$ (145,294)
Net Earnings (Loss) Per Common Share (in dollars per share)	$ 0	$ 0
Weighted Average Number of Shares Outstanding - Basic and diluted (in shares)	132,842,785	108,611,814

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Share Subscriptions Received	Contributed Surplus	Accumulated Other Comprehensive Income	Deficit	Total
Beginning Balance at Mar. 31, 2017	$ 967	$ 5,957,211		$ 3,500,756	$ 15,491	$ (9,364,652)	$ 109,773
Begging Balance (in shares) at Mar. 31, 2017	108,611,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds Private placement
Net Loss						(145,294)	(145,294)
Ending Balance at Jun. 30, 2017	$ 967	5,957,211		3,500,756	15,491	(9,509,946)	(35,521)
Ending Balance (in shares) at Jun. 30, 2017	108,611,814
Beginning Balance at Mar. 31, 2018	$ 967	5,957,211	1,469,516	4,379,700	35,794	(10,854,427)	988,761
Begging Balance (in shares) at Mar. 31, 2018	108,611,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds Private placement	$ 300	752,700	(1,469,516)	747,000			30,484
Private placement (in shares)	30,000,000
Stock options exercised	$ 38	593,225		(593,263)
Stock options exercised (in shares)	3,754,600
Unrealized gain on investment in common shares					102,937		102,937
Net Loss						11,392	11,392
Ending Balance at Jun. 30, 2018	$ 1,305	$ 7,303,136		$ 4,533,437	$ 138,731	$ (10,843,035)	$ 1,133,574
Ending Balance (in shares) at Jun. 30, 2018	142,366,414

Condensed Interim Consolidated6

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES
Net income (loss) for the period	$ 11,392	$ (145,294)
Non-cash items:
Depreciation		193
Unrealized gain on investment in warrants	(95,774)
Changes in non-cash working capital:
Prepaid expenses	(3,103)	3,882
Accounts payable and royalty payments payable	(11,016)	19,494
Due to shareholder	68,011
Cash used in operating activities	(30,490)	(121,725)
INVESTING ACTIVITIES
Purchase of long-term investments	(23,850)
FINANCING ACTIVITIES
Proceeds from private placement advanced	30,484
Proceeds from loans		113,811
Cash used in financing activities	30,484	113,811
Decrease in Cash	(23,856)	(7,914)
Cash, Beginning of Period	28,481	14,085
Cash, End of Period	4,625	6,171
Non-Cash Transactions:
Cashless stock options exercised	$ 593,263

Description of Business

Description of Business	3 Months Ended
	Jun. 30, 2018
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 #708, 1155 West Pender Street, Vancouver, British Columbia, V6E 2P4, Canada. The Company is primarily engaged in acquiring mineral assets in West Africa and applying green innovation to traditional mining methods and combining renewable energy and technology into the process.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of Presentation (a) Statement of Compliance These condensed interim consolidated 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 condensed interim consolidated financial statements of the Company comprise the Company and its subsidiaries. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated interim financial statements have also been prepared using the accrual basis of accounting, except for cash flow information. In the opinion of management, all adjustments (including normal recurring ones), considered necessary for the fair statement of results have been included in these financial statements. All intercompany balances and transactions have been eliminated upon consolidation. The interim results are not necessarily indicative of results for the full year ending March 31, 2019, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2018, including the accounting policies and notes thereto. (c) Reporting and Functional Currencies The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company is the Canadian dollar (“CAD”). The Company’s reporting currency is the US dollar. Transactions: Monetary assets and liabilities denominated in foreign currencies are translated into functional currencies of the Company and its subsidiaries using period end foreign currency exchange rates and expenses are translated using the exchange rate approximating those in effect on the date of the transactions during the reporting periods in which the expenses were transacted. Non-monetary assets and liabilities are translated at their historical foreign currency exchange rates. Gains and losses resulting from foreign exchange transactions are included in the determination of net income or loss for the period. Translations: Foreign currency financial statements are translated into the Company’s reporting currency, the US dollar as follows: (i) All of the assets and liabilities are translated at the rate of exchange in effect on the balance sheet date; (ii) Expenses are translated at the exchange rate approximating those in effect on the date of the transactions; and (iii) Exchange gains and losses arising from translation are included in other comprehensive income. (d) Significant Accounting Judgments and Estimates (continued) The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the period. Actual outcomes could differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods. In applying the Company’s accounting policies, management has made certain judgments that may have a significant effect on the consolidated financial statements. Such judgments include the determination of the functional currencies and use of the going concern assumption. (i) Determination of Functional Currencies In determining the Company’s functional currency, it periodically reviews its primary and secondary indicators to assess the primary economic environment in which the entity operates in determining the Company’s functional currencies. The Company analyzes the currency that mainly influences labor, material and other costs of providing goods or services which is often the currency in which such costs are denominated and settled. The Company also analyzes secondary indicators such as the currency in which funds from financing activities such as equity issuances are generated and the funding dependency of the parent company whose predominant transactional currency is the Canadian dollar. Determining the Company’s predominant economic environment requires significant judgment. (ii) Going Concern These condensed interim consolidated 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 income of $11,392 for the three months ended June 30, 2018 and has incurred cumulative losses since inception of $10,843,035 as at June 30, 2018. 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 is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt and/or equity financing to continue operations. These condensed interim 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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Recent Accounting Pronouncements	3. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Long Term Investment

Long Term Investment	3 Months Ended
	Jun. 30, 2018
Long Term Investment
Long Term Investment	4. Long Term Investments Fair Value as at Number June 30, 2018 March 31, 2018 FVTPL Share purchase warrants 3,333,333 $ 118,907 $ 48,375 1,000,000 35,672 - 154,579 48,375 Available-for-sale Common shares 3,333,333 139,223 64,633 1,000,000 41,767 - 180,990 64,633 Total investment: $ 335,569 $ 113,008 On April 16, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 1,000,000 units at CAD$0.03 per unit for a total cost of $23,850 (CAD$30,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $13,420 and $10,430, respectively. As at June 30, 2018, the fair value of common shares was $180,990 which resulted in an unrealized gain of $102,937 that was recorded in other comprehensive income. In addition, the fair value of warrants was $154,579, which resulted in an unrealized gain of $95,774 that was recorded in net income. The June 30, 2018 fair value of the warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 1.92%, volatility of 200.6%, annual rate of dividend of 0%, and expected life of 2 years.

Equipment

Equipment	3 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Equipment	5. Equipment Machinery Total Cost Balance at June 30 & March 31, 2018 $ 232,620 $ 232,620 Accumulated Depreciation Balance at June 30 & March 31, 2018 $ 161,060 $ 161,060 Carrying amounts As at June 30 & March 31, 2018 $ 71,560 $ 71,560 Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

Mineral Property Interest

Mineral Property Interest	3 Months Ended
	Jun. 30, 2018
Mineral Property Interest
Mineral Property Interest	6. Mineral Property Interest The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among 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 agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Property”) from the Vendors. The Company exercised that right and 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, the Company obtained a legal opinion which confirmed that the license was in good standing at the time of acquisition. It is the Company’s intention to obtain an exploitation permit to allow the Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit. In consideration for the acquisition of the interest in the Property, the Company paid in cash $100,000 to BGL and $40,000 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 $140,000, and $10,000 for an independent valuation of the Property. Additionally, $781,722 was capitalized to mineral property interests, being the fair value of the first tranche of shares. 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 $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. The mining exploration license for the Company was renewed for twelve months on December 11, 2017, and the Company is now proceeding with the feasibility study phase. Mansounia Property, West Africa Acquisition of mineral property interest Cash payment $ 150,000 Issuance of 6,514,350 common shares 781,722 Balance, June 30 & March 31, 2018 $ 931,722 During the three months ended June 30, 2018, the Company spent $3,844 (2018 – $19,584) on the property.

Common Stock

Common Stock	3 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Common Stock	7. Common Stock (a) Private Placement On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd. On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years. (b) Warrants On April 24, 2018, the Company issued 30,000,000 share purchase warrants as part of the $1,500,000 private placement. The warrants expire five years from the date of issuance and are exercisable at $0.05 per share. The fair value of these warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 2.73%, volatility of 204.3%, annual rate of dividend of 0%, and expected life of 5 years. The following table summarizes historical information about the Company’s warrants: Number of Warrants Weighted Average Exercise Price ($) Weighted Average Life Remaining (Years) Balance, March 31, 2018 88,000,000 0.05 0.70 Issued 30,000,000 0.05 4.80 Balance, June 30, 2018 118,000,000 0.05 1.74 As at June 30, 2018, the following warrants were outstanding and exercisable: Number of Warrants Exercise Price Expiry Date 88,000,000 $ 0.05 February 27, 2019 30,000,000 $ 0.05 April 24, 2023 (c) Stock Options On June 26, 2018, 4,000,000 stock options were exercised via cashless exercise at a price of $0.01 per share, resulting in issuance of 3,754,600 common shares. The cash component, equivalent to $40,000, is calculated as 245,400 shares at $0.163, the closing market price of the Company on the date of issuance. The following table summarizes historical information about the Company’s incentive stock options: Number of options Weighted Average Exercise Price ($) Weighted Average Life Remaining (Years) Balance, March 31, 2018 7,650,000 0.12 3.20 Exercised (4,000,000 ) 0.01 2.10 Balance, June 30, 2018 3,650,000 0.25 4.00 At June 30, 2018, the following stock options were outstanding and exercisable: Number of Options Exercise Price Weighted Average Remaining Life in Years Expiry Date 650,000 $ 0.15 1.1 August 7, 2019 3,000,000 $ 0.27 4.6 February 15, 2023

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	8. Fair Value of Financial Instruments The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable: Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). Level 2 and 3 financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values. The following table sets forth the Company’s financial assets measured at fair value by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total June 30, 2018 Cash $ 4,625 $ - $ - $ 4,625 Long-term investment – Shares 180,990 - - 180,990 Long-term investment – Warrants - - 154,579 154,579 Total $ 185,615 $ - $ 157,579 $ 340,194 Level 1 Level 2 Level 3 Total March 31, 2018 Cash $ 28,481 $ - $ - $ 28,481 Long-term investment – Shares 64,633 - - 64,633 Long-term investment – Warrants - - 48,375 48,375 Total $ 93,114 $ - $ 48,375 $ 141,489

Due to Shareholder

Due to Shareholder	3 Months Ended
	Jun. 30, 2018
Due To Shareholder
Due to Shareholder	9. Due to Shareholder During the three months ended June 30, 2018, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $68,011. As at June 30, 2018, the Company was indebted to Waratah for $124,211 (March 31, 2018 - $56,200). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.

Commitments

Commitments	3 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments	10. Commitments On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. (“Waratah”) where the Company agreed to purchase all of Waratah’s right, title, and interest in the Quivira Gold (“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 for $1,500,000 (Note 7(a)). As of the issuance date of these financial statements, the due diligence has not yet been completed.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions The Company’s related parties include its subsidiaries, key management personnel, controlling shareholders, and strategic partner. Transactions with related parties for goods and services are based on the exchange amount as agreed to by the related parties. The Company incurred the following expenses with related parties during the three months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 Compensation – Directors $ 22,924 $ 29,715 Compensation – Former Director - 27,484 Compensation – Officer 7,744 4,640 Compensation – Former Officer 12,262 11,688 $ 42,930 $ 73,527 During the three months ended June 30, 2018, $2,179 (2017 - $2,097) were paid for bookkeeping services to a company owned by a former officer of the Company. As at June 30, 2018, the Company was indebted to its related parties for the amounts as below: June 30, 2018 March 31, 2018 Accounts payable and accrued liabilities $ 73,689 $ 57,014 Due to shareholder (Note 9) 124,211 56,200 As at June 30, 2018, $73,689 (March 31, 2018 - $57,014) remains unpaid to directors and officers for consulting and professional fees. These amounts owing is unsecured, non-interest bearing and have no fixed repayment terms.

Geographical Area Information

Geographical Area Information	3 Months Ended
	Jun. 30, 2018
Segments, Geographical Areas [Abstract]
Geographical Area Information	12. Geographical Area Information Canada Africa Total June 30, 2018: Current assets $ 11,894 $ - $ 11,894 Long term investments 335,569 - 335,569 Equipment - 71,560 71,560 Mineral property interest - 931,722 931,722 Total assets $ 347,463 $ 1,003,282 $ 1,350,745 Total liabilities $ 217,171 $ - $ 217,171 March 31, 2018: Current assets $ 32,648 $ - $ 32,648 Long term investments 113,008 - 113,008 Equipment - 71,560 71,560 Mineral property interest - 931,722 931,722 Total assets $ 145,656 $ 1,003,282 $ 1,148,938 Total liabilities $ 160,177 $ - $ 160,177

Long Term Investment (Tables)

Long Term Investment (Tables)	3 Months Ended
	Jun. 30, 2018
Long Term Investment
Long Term Investments	Fair Value as at Number June 30, 2018 March 31, 2018 FVTPL Share purchase warrants 3,333,333 $ 118,907 $ 48,375 1,000,000 35,672 - 154,579 48,375 Available-for-sale Common shares 3,333,333 139,223 64,633 1,000,000 41,767 - 180,990 64,633 Total investment: $ 335,569 $ 113,008

Equipment (Tables)

Equipment (Tables)	3 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Machinery Total Cost Balance at June 30 & March 31, 2018 $ 232,620 $ 232,620 Accumulated Depreciation Balance at June 30 & March 31, 2018 $ 161,060 $ 161,060 Carrying amounts As at June 30 & March 31, 2018 $ 71,560 $ 71,560

Mineral Property Interest (Tabl

Mineral Property Interest (Tables)	3 Months Ended
	Jun. 30, 2018
Mineral Property Interest
Schedule of Acquisition Mineral Property Interest	Mansounia Property, West Africa Acquisition of mineral property interest Cash payment $ 150,000 Issuance of 6,514,350 common shares 781,722 Balance, June 30 & March 31, 2018 $ 931,722

Common Stock (Tables)

Common Stock (Tables)	3 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of warrants	Number of Warrants Weighted Average Exercise Price ($) Weighted Average Life Remaining (Years) Balance, March 31, 2018 88,000,000 0.05 0.70 Issued 30,000,000 0.05 4.80 Balance, June 30, 2018 118,000,000 0.05 1.74
Schedule of warrants outstanding and exercisable	Number of Warrants Exercise Price Expiry Date 88,000,000 $ 0.05 February 27, 2019 30,000,000 $ 0.05 April 24, 2023
Schedule of Share-based Compensation, Stock Options, Activity	Number of options Weighted Average Exercise Price ($) Weighted Average Life Remaining (Years) Balance, March 31, 2018 7,650,000 0.12 3.20 Exercised (4,000,000 ) 0.01 2.10 Balance, June 30, 2018 3,650,000 0.25 4.00
Schedule of Stock Options Outstanding And Exercisable	Number of Options Exercise Price Weighted Average Remaining Life in Years Expiry Date 650,000 $ 0.15 1.1 August 7, 2019 3,000,000 $ 0.27 4.6 February 15, 2023

Fair Value of Financial Instr23

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair value of Assets	Level 1 Level 2 Level 3 Total June 30, 2018 Cash $ 4,625 $ - $ - $ 4,625 Long-term investment – Shares 180,990 - - 180,990 Long-term investment – Warrants - - 154,579 154,579 Total $ 185,615 $ - $ 157,579 $ 340,194 Level 1 Level 2 Level 3 Total March 31, 2018 Cash $ 28,481 $ - $ - $ 28,481 Long-term investment – Shares 64,633 - - 64,633 Long-term investment – Warrants - - 48,375 48,375 Total $ 93,114 $ - $ 48,375 $ 141,489

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule of Expenses with Related Parties	Three Months Ended June 30, 2018 2017 Compensation – Directors $ 22,924 $ 29,715 Compensation – Former Director - 27,484 Compensation – Officer 7,744 4,640 Compensation – Former Officer 12,262 11,688 $ 42,930 $ 73,527
Schedule of indebted to related parties	June 30, 2018 March 31, 2018 Accounts payable and accrued liabilities $ 73,689 $ 57,014 Due to shareholder (Note 9) 124,211 56,200

Geographical Area Information (

Geographical Area Information (Tables)	3 Months Ended
	Jun. 30, 2018
Segments, Geographical Areas [Abstract]
Geographical Area Information	Canada Africa Total June 30, 2018: Current assets $ 11,894 $ - $ 11,894 Long term investments 335,569 - 335,569 Equipment - 71,560 71,560 Mineral property interest - 931,722 931,722 Total assets $ 347,463 $ 1,003,282 $ 1,350,745 Total liabilities $ 217,171 $ - $ 217,171 March 31, 2018: Current assets $ 32,648 $ - $ 32,648 Long term investments 113,008 - 113,008 Equipment - 71,560 71,560 Mineral property interest - 931,722 931,722 Total assets $ 145,656 $ 1,003,282 $ 1,148,938 Total liabilities $ 160,177 $ - $ 160,177

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Basis Of Presentation Details Narrative
Net Income	$ 11,392	$ (145,294)
Cumulative Losses	$ (10,843,035)		$ (10,854,427)

Long Term Investment (Details)

Long Term Investment (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
FVTPL
Proceeds from share purchase warrants	$ 154,579	$ 48,375
Available-for-sale
Proceeds from common shares	180,990	64,633
Total investment	$ 335,569	113,008
Warrant [Member]
FVTPL
Share purchase warrants	3,333,333
Proceeds from share purchase warrants	$ 118,907	48,375
Available-for-sale
Common shares	3,333,333
Warrant one [Member]
FVTPL
Share purchase warrants	1,000,000
Proceeds from share purchase warrants	$ 35,672
Available-for-sale
Common shares	1,000,000
Common Stock [Member]
Available-for-sale
Proceeds from common shares	$ 139,223	64,633
Common Stock One [Member]
Available-for-sale
Proceeds from common shares	$ 41,767

Long Term Investment (Details N

Long Term Investment (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended
	Apr. 28, 2018	Apr. 16, 2018	Jun. 30, 2018	Jun. 30, 2017
Proceeds from Issuance of Private Placement			$ 30,484
Unrealized gain on common stock			$ 102,937
Warrant [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000
Valuation method	Black-Scholes option pricing model		Black-Scholes option pricing model
Risk free interest rate	2.73%		1.92%
Volatility	204.30%		200.60%
Annual rate of dividend	0.00%		0.00%
Expected life (in years)	5 years		2 years
Ashanti Sankofa [Member] | Private Placement [Member]
Issuance of common stock		1,000,000
Proceeds from Issuance of Private Placement		$ 23,850
Fair value of common stock		13,420	$ 180,990
Fair value of warrants		$ 10,430	154,579
Unrealized gain on common stock			102,937
Unrealized gain on warrant			$ 95,774

Equipment (Details)

Equipment (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Property, Plant and Equipment, Gross	$ 232,620	$ 232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	71,560	71,560
Machinery [Member]
Property, Plant and Equipment, Gross	232,620	232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	$ 71,560	$ 71,560

Equipment (Details Narrative)

Equipment (Details Narrative)	3 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Equipment description	Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

Mineral Property Interest (Deta

Mineral Property Interest (Details) - USD ($)	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Acquisition of mineral property interest
Cash payment	$ 150,000
Issuance of common shares	781,722
Mineral Property Interest	$ 931,722	$ 931,722

Mineral Property Interest (De32

Mineral Property Interest (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 24, 2016	Jun. 30, 2018	Mar. 31, 2018
Cash Paid		$ 150,000
Mineral Property expenses		$ 3,844	$ 19,584
BGL [Member]
Cash Paid	$ 100,000
BGL [Member] | First Tranche Shares [Member]
Shares Issued, percentage	71.43%
BGL [Member] | Second Tranche Shares [Member]
Shares Issued, percentage	71.43%
EML [Member]
Cash Paid	$ 40,000
EML [Member] | First Tranche Shares [Member]
Shares Issued, percentage	28.57%
EML [Member] | Second Tranche Shares [Member]
Shares Issued, percentage	28.57%
BGL and EML [Member] | First Tranche Shares [Member]
Shares Issued	6,514,350
Shares Issued, per share	$ 0.1765
Shares Issued, value	$ 1,150,000
Mineral Property Interest	781,722
BGL and EML [Member] | Second Tranche Shares [Member]
Shares Issued, value	$ 1,150,000

Common Stock (Details)

Common Stock (Details)	3 Months Ended
	Jun. 30, 2018$ / sharesshares
Number of Warrants
Warrants beginning | shares	88,000,000
Issued | shares	30,000,000
Warrants ending | shares	118,000,000
Weighted Average Exercise Price
Warrants beginning | $ / shares	$ 0.05
Issued | $ / shares	0.05
Warrants ending | $ / shares	$ 0.05
Weighted Average Life Remaining (Years)
Warrants beginning	8 months 12 days
Issued	4 years 9 months 18 days
Warrants ending	1 year 8 months 26 days

Common Stock (Details 1)

Common Stock (Details 1) - $ / shares	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Warrants beginning	118,000,000	88,000,000
27-Feb-19 [Member]
Warrants beginning	88,000,000
Warrants Exercisable	88,000,000
Warrants Exercise Price	$ 0.05
Warrants Expiry Date	Feb. 27, 2019
24-Apr-23 [Member]
Warrants beginning	30,000,000
Warrants Exercisable	30,000,000
Warrants Exercise Price	$ 0.05
Warrants Expiry Date	Apr. 24, 2023

Common Stock (Details 2)

Common Stock (Details 2) - Stock Option [Member] - $ / shares	1 Months Ended	3 Months Ended
	Apr. 26, 2018	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding beginning	7,650,000	7,650,000
Exercised	(4,000,000)	(4,000,000)
Outstanding ending		3,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding beginning	$ 0.12	$ 0.12
Exercised		0.01
Outstanding ending		$ 0.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term [Roll Forward]
Outstanding beginning		3 years 2 months 12 days
Exercised		2 years 1 month 6 days
Outstanding ending		4 years

Common Stock (Details 3)

Common Stock (Details 3)	3 Months Ended
	Jun. 30, 2018$ / sharesshares
07-Aug-19 [Member]
Options Outstanding	650,000
Options Exercisable	650,000
Weighted Average Remaining in Years	1 year 1 month 6 days
Exercise Price | $ / shares	$ 0.15
Expiry Date	Aug. 7, 2019
15-Feb-23 [Member]
Options Outstanding	3,000,000
Options Exercisable	3,000,000
Weighted Average Remaining in Years	4 years 7 months 6 days
Exercise Price | $ / shares	$ 0.27
Expiry Date	Feb. 15, 2023

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended
	Apr. 28, 2018	Apr. 26, 2018	Apr. 28, 2016	Jun. 22, 2013	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Proceeds from Issuance of Private Placement					$ 30,484
Warrants expiration period					1 year 8 months 26 days		8 months 12 days
Stock Option [Member]
Share price		$ 0.163
Option Exercised		4,000,000			4,000,000
Proceeds from stock option exercised		$ 40,000
Exercise price		$ 0.01
Issuance of common shares		3,754,600
Warrant [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000
Stock Issued During Period, Shares, Acquisitions	30,000,000
Warrants Exercise Price	$ 0.05
Warrants expiration period	5 years
Valuation method	Black-Scholes option pricing model				Black-Scholes option pricing model
Risk free interest rate	2.73%				1.92%
Volatility	204.30%				200.60%
Annual rate of dividend	0.00%				0.00%
Expected life (in years)	5 years				2 years
Share Purchase Agreement [Member] | Waratah Capital [Member]
Issuance of common shares				60,000,000
Share Purchase Agreement [Member] | Waratah Capital [Member] | Private Placement [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000		$ 1,500,000
Stock Issued During Period, Shares, Acquisitions	30,000,000
Share price	$ 0.05
Warrants Exercise Price	$ 0.05

Fair Value of Financial Instr38

Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Cash and cash equivalents	$ 4,625	$ 28,481	$ 6,171	$ 14,085
Long-term investment - Shares	180,990	64,633
Long-term investment - Warrants	154,579	48,375
Financial assets	340,194	141,489
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	4,625	28,481
Long-term investment - Shares	180,990	64,633
Long-term investment - Warrants
Financial assets	185,615	93,114
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Long-term investment - Shares
Long-term investment - Warrants
Financial assets
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Long-term investment - Shares
Long-term investment - Warrants	154,579	48,375
Financial assets	$ 157,579	$ 48,375

Due to Shareholder (Details Nar

Due to Shareholder (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Due to shareholder (Note 9)	$ 124,211	$ 56,200
Waratah Capital [Member]
Advance from related party	68,011
Due to shareholder (Note 9)	$ 124,211	$ 56,200

Commitments (Details Narrative)

Commitments (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Apr. 28, 2018	Apr. 28, 2016	Jun. 22, 2013	Jun. 30, 2018	Jun. 30, 2017
Warrants issued				30,000,000
Proceeds from Issuance of Private Placement				$ 30,484
Share Purchase Agreement [Member] | Waratah Capital [Member]
Issuance of common stock			60,000,000
Warrants issued			60,000,000
Share price			$ 0.05
Share Purchase Agreement [Member] | Waratah Capital [Member] | Private Placement [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000	$ 1,500,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Compensation	$ 42,930	$ 73,527
Directors [Member]
Compensation	22,924	29,715
Former Directors [Member]
Compensation		27,484
Officers [Member]
Compensation	7,744	4,640
Former Officers [Member]
Compensation	$ 12,262	$ 11,688

Related Party Transactions (D42

Related Party Transactions (Details 1) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Related Party Transactions [Abstract]
Accounts payable and accrued liabilities	$ 73,689	$ 57,014
Due to shareholder (Note 9)	$ 124,211	$ 56,200

Related Party Transactions (D43

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Former Officers [Member]
Payment for bookkeeping services	$ 2,179	$ 2,097
Directors and officers [Member]
Accrued consulting and professional fees	$ 73,689		$ 57,014

Geographical Area Information44

Geographical Area Information (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Current Assets	$ 11,894	$ 32,648
Long term investment	335,569	113,008
Equipment	71,560	71,560
Mineral property interest	931,722	931,722
Total assets	1,350,745	1,148,938
Total liabilities	217,171	160,177
Canada [Member]
Current Assets	11,894	32,648
Long term investment	335,569	113,008
Equipment
Mineral property interest
Total assets	347,463	145,656
Total liabilities	217,171	160,177
Africa [Member]
Current Assets
Long term investment
Equipment	71,560	71,560
Mineral property interest	931,722	931,722
Total assets	1,003,282	1,003,282
Total liabilities