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, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income (loss) for the year $ (14,785,000) $ (8,418,000) $ 4,534,000
Items not affecting cash:      
Stock based compensation 951,000 787,000 915,000
Net realizable value adjustments 7,802,000 10,263,000 318,000
Depreciation of capital assets 1,818,000 1,812,000 1,860,000
Amortization of mineral properties 2,445,000 2,601,000 1,743,000
Accretion expense 576,000 577,000 508,000
Amortization of deferred loan costs 71,000 108,000 121,000
Provision for reclamation 4,000 (5,000) 5,000
Write-off of mineral properties 0 11,000 0
Loss from equity investment 0 0 5,000
Mark to market loss (gain) 680,000 (524,000) (581,000)
Gain on sale of monetized contract 0 0 (3,540,000)
Gain on sale of assets (16,000) (18,000) (2,000)
Gain (loss) on unrealized foreign exchange 0 (28,000) 45,000
Accounts receivable 22,000 9,000 2,000
Inventory (8,190,000) (2,997,000) (10,495,000)
Prepaid expenses 71,000 5,000 (95,000)
Accounts payable and accrued liabilities 108,000 (196,000) (706,000)
Net Cash Provided By Used In Operating Activities (8,443,000) 3,987,000 (5,363,000)
Investing activities      
Mineral property costs 0 (9,000) (31,000)
Decrease (increase) in bonding and other deposits 0 19,000 0
Proceeds from sale of monetized contract 0 0 3,540,000
Funding of equity investment 0 0 (5,000)
Proceeds from sale of capital assets 18,000 18,000 0
Purchase of capital assets (43,000) (271,000) (55,000)
Net Cash Provided By Used In Investing Activities (25,000) (243,000) 3,449,000
Financing activities      
Issuance of common shares and warrants for cash 4,805,000 0 10,000,000
Share issue costs (431,000) 0 902,000
Proceeds from exercise of warrants and stock options 99,000 203,000 290,000
RSU redeemed for cash (39,000) (70,000) (76,000)
Proceeds from debt financing 893,000 0 0
Repayment of debt 0 (2,554,000) (4,895,000)
Net Cash Provided By Used In Financing Activities 5,327,000 (2,421,000) 4,417,000
Effects of foreign exchange rate changes on cash 53,000 62,000 110,000
Increase (decrease) in cash, cash equivalents, and restricted cash 3,088,000 1,385,000 2,393,000
Beginning cash, cash equivalents, and restricted cash 15,215,000 13,830,000 11,437,000
Ending cash, cash equivalents, and restricted cash $ 12,127,000 $ 15,215,000 $ 13,830,000