v3.21.2
Consolidated Balance Sheets - USD ($)
Aug. 31, 2021
Aug. 31, 2020
Current assets    
Cash $ 1,012,929 $ 62,404
Trade and other receivables 17,303 12,830
Ore inventory 16,800 14,749
Other inventory 90,176 12,250
Current portion of notes receivable 522,959 89,159
Prepaid expenses and other current assets 2,539,120 2,043,510
Total Current Assets 4,199,287 2,234,902
Non-Current assets    
Mineral leases 34,911,143 34,911,143
Property, plant and equipment 41,049,417 35,582,512
Right of use asset 167,048 209,101
Intangible assets 707,671 707,671
Total Non-Current Assets 76,835,279 71,410,427
Total Assets 81,034,566 73,645,329
Current liabilities    
Accounts payable 2,105,449 2,406,665
Accrued expenses 1,564,616 1,769,749
Ore Sale advances 283,976 283,976
Promissory notes payable 23,298 8,000
Debt   683,547
Current portion of convertible debentures, net of discount of $529,372 and $559,178, respectively 5,255,874 8,227,257
Current portion of Federal relief loans 291,332 74,383
Current portion of finance lease liabilities 75,058 172,374
Current portion of operating lease liabilities 48,376 42,053
Related party payables 493,549 680,647
Derivative liability 322,186 841,385
Total Current Liabilities 10,463,714 15,190,036
Non-Current liabilities    
Convertible debentures, net of discount of $3,449,338 and $613,934, respectively 891,662 607,067
Federal relief loans 437,096 505,969
Finance lease liabilities 75,058
Operating lease liabilities 118,672 167,048
Reclamation and restoration provision 2,970,497 2,970,497
Total Non-Current Liabilities 4,417,927 4,325,639
Total Liabilities 14,881,641 19,515,675
Commitments and contingencies
SHAREHOLDERS’ EQUITY    
Share capital 166,291,517 144,794,003
Deficit (100,138,592) (90,664,349)
Total Shareholders’ Equity 66,152,925 54,129,654
Total Liabilities and Shareholders’ Equity $ 81,034,566 $ 73,645,329

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