v3.21.2
Consolidated Balance Sheets - USD ($)
May 31, 2021
Aug. 31, 2020
Current assets    
Cash $ 307,208 $ 62,404
Trade and other receivables 317,303 12,830
Ore inventory 16,800 14,749
Other inventory 90,176 12,250
Note receivable 92,002 89,159
Prepaid expenses and other current assets 2,039,120 2,043,510
Total Current Assets 2,862,609 2,234,902
Non-Current assets    
Mineral leases 34,911,143 34,911,143
Property, plant and equipment 40,442,207 35,582,512
Right of use asset 177,957 209,101
Intangible assets 707,671 707,671
Total Non-Current Assets 76,238,978 71,410,427
Total Assets 79,101,587 73,645,329
Current liabilities    
Accounts payable 2,344,104 2,406,665
Accrued expenses 2,028,710 1,769,749
Ore Sale advances 283,976 283,976
Promissory notes payable 560,000 8,000
Debt 611,193 683,547
Current portion of convertible debentures 6,003,436 8,227,257
Current portion of Federal relief loans 541,575 74,383
Current portion of finance lease liabilities 120,347 172,374
Current portion of operating lease liabilities 46,735 42,053
Related party payables 735,287 680,647
Derivative liability 2,586,353 841,385
Total Current Liabilities 15,861,716 15,190,036
Non-Current liabilities    
Convertible debentures 757,476 607,067
Federal relief loans 320,677 505,969
Finance lease liabilities 75,058
Operating lease liabilities 131,222 167,048
Reclamation and restoration provision 2,970,497 2,970,497
Total Non-Current Liabilities 4,179,872 4,325,639
Total Liabilities 20,041,588 19,515,675
Commitments and contingencies
SHAREHOLDERS’ EQUITY    
Share capital 156,107,408 144,794,003
Deficit (97,047,409) (90,664,349)
Total Shareholders’ Equity 59,059,999 54,129,654
Total Liabilities and Shareholders’ Equity $ 79,101,587 $ 73,645,329

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