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, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash provided by (used in) Operating activities      
Net income (loss) for the period $ 76,000 $ (3,010,000) $ (795,000)
Items not affecting cash:      
Stock based expense 891,000 857,000 893,000
Depreciation and amortization 4,890,000 5,144,000 6,504,000
Accretion of asset retirement obligation 527,000 534,000 515,000
Amortization of deferred loan costs 120,000 152,000 177,000
Provision for reclamation (13,000)    
Write off of equity investments   1,089,000  
Write off of mineral property   62,000  
Warrants mark to market gain   (36,000) (307,000)
Gain on disposition of assets (2,000) (14,000) (5,000)
Loss (gain) on foreign exchange 53,000 280,000  
Other loss 4,000 5,000 9,000
Income tax recovery   (17,000) (3,345,000)
Change in non-cash working capital items:      
Accounts receivable (17,000) (7,000) 19,000
Inventory (406,000) (765,000) 1,823,000
Prepaid expenses 109,000 (111,000) 125,000
Accounts payable and accrued liabilities (606,000) (773,000) (101,000)
Net Cash Provided by (Used in) Operating Activities, Total 5,626,000 3,390,000 5,512,000
Investing activities      
Mineral property costs (18,000)   1,000
Funding of equity investment (5,000) (5,000) (8,000)
Proceeds from sale of property and equipment   91,000 26,000
Purchase of capital assets (181,000) (296,000) (79,000)
Net Cash Provided by (Used in) Investing Activities, Total (204,000) (210,000) (60,000)
Financing activities      
Issuance of common shares for cash 1,169,000 6,568,000  
Share issue costs (93,000) (884,000)  
Proceeds from exercise of stock options 542,000 9,000 410,000
RSUs redeemed to pay withholding or paid in cash (94,000) (56,000) (142,000)
Repayment of debt (4,623,000) (8,679,000) (7,374,000)
Net Cash Provided by (Used in) Financing Activities, Total (3,099,000) (3,042,000) (7,106,000)
Effects of foreign exchange rate changes on cash 5,000 (28,000) (7,000)
Net change in cash and cash equivalents 2,328,000 110,000 (1,661,000)
Beginning cash and cash equivalents 9,109,000 8,999,000 10,660,000
Ending cash and cash equivalents (note 15) $ 11,437,000 $ 9,109,000 $ 8,999,000