Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Aug. 31, 2019
Aug. 31, 2018
Current assets    
Cash $ 50,719 $ 2,640,001
Trade and other receivables 144,013 404,013
Current portion of advanced royalty payments 446,362 331,200
Ore inventory 176,792 122,242
Other inventory 39,038 71,390
Related party receivables 297,256
Current portion of notes receivable 85,359
Prepaid expenses and other current assets 1,499,120 331,688
Total Current Assets 2,441,403 4,197,790
Non-Current assets    
Advanced royalty payments 421,667 467,886
Notes receivable 760,384 381,550
Mineral leases 34,911,143 11,111,143
Investments 68,331
Investment in Accord GR Energy 981,137
Property, plant and equipment 33,613,650 21,188,895
Intangible assets 707,671 707,671
Total Non-Current Assets 70,414,515 34,906,613
Total Assets 72,855,918 39,104,403
Current liabilities    
Accounts payable 2,081,756 1,102,327
Accrued expenses 2,048,399 1,900,081
Ore Sale advances 283,976 283,976
Current portion of long-term debt 1,057,163 1,027,569
Current portion of convertible debentures 6,188,872 258,404
Related party payables 50,000
Total Current Liabilities 11,710,166 4,572,357
Non-Current liabilities    
Unearned advance royalties received 170,000
Long-term debt 215,695 598,982
Convertible debentures 140,597 250,000
Reclamation and restoration provision 2,970,497 583,664
Total Non-Current Liabilities 3,326,789 1,602,646
Total Liabilities 15,036,955 6,175,003
SHAREHOLDERS’ EQUITY    
Share capital 136,104,245 95,426,796
Deficit (78,285,282) (62,497,396)
Total Shareholders’ Equity 57,818,963 32,929,400
Total Liabilities and Shareholders’ Equity $ 72,855,918 $ 39,104,403