Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flow

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Consolidated Statements of Cash Flow - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash provided by (used in) Operating activities      
Net income (loss) for the period $ 4,534,000 $ 76,000 $ (3,010,000)
Items not affecting cash:      
Stock based expense 915,000 891,000 857,000
Depreciation and amortization 3,603,000 4,890,000 5,144,000
Accretion of asset retirement obligation 508,000 527,000 534,000
Amortization of deferred loan costs 121,000 120,000 152,000
Provision for reclamation 5,000 (13,000)  
Gain on monetization of contract (3,540,000)    
Write off of equity investments     1,089,000
Write off of mineral property     62,000
Warrants mark to market gain (581,000)   (36,000)
Gain on disposition of assets (2,000) (2,000) (14,000)
Loss (gain) on foreign exchange 45,000 53,000 280,000
Other loss 5,000 4,000 5,000
Income tax recovery     (17,000)
Change in non-cash working capital items:      
Accounts receivable 2,000 (17,000) (7,000)
Inventory (10,177,000) (406,000) (765,000)
Prepaid expenses (95,000) 109,000 (111,000)
Accounts payable and accrued liabilities (706,000) (606,000) (773,000)
Net Cash Provided by (Used in) Operating Activities, Total (5,363,000) 5,626,000 3,390,000
Investing activities      
Mineral property costs (31,000) (18,000)  
Proceeds from monetization of contract 3,540,000    
Funding of equity investment (5,000) (5,000) (5,000)
Proceeds from sale of property and equipment     91,000
Purchase of capital assets (55,000) (181,000) (296,000)
Net Cash Provided by (Used in) Investing Activities, Total 3,449,000 (204,000) (210,000)
Financing activities      
Issuance of common shares for cash 10,000,000 1,169,000 6,568,000
Share issue costs (902,000) (93,000) (884,000)
Proceeds from exercise of stock options 290,000 542,000 9,000
RSUs redeemed to pay withholding or paid in cash (76,000) (94,000) (56,000)
Repayment of debt (4,895,000) (4,623,000) (8,679,000)
Net Cash Provided by (Used in) Financing Activities, Total 4,417,000 (3,099,000) (3,042,000)
Effects of foreign exchange rate changes on cash (110,000) 5,000 (28,000)
Net change in cash, cash equivalents and restricted cash 2,393,000 2,328,000 110,000
Beginning cash, cash equivalents and restricted cash 11,437,000 9,109,000 8,999,000
Ending cash, cash equivalents and restricted cash $ 13,830,000 $ 11,437,000 $ 9,109,000