Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Feb. 29, 2020
Aug. 31, 2019
Current assets    
Cash $ 21,403 $ 50,719
Trade and other receivables 16,830 144,013
Current portion of advanced royalty payments 432,500 446,362
Ore inventory 141,792 176,792
Other inventory 39,085 39,038
Current portion of notes receivable 87,233 85,359
Prepaid expenses and other current assets 2,102,120 1,499,120
Total Current Assets 2,840,963 2,441,403
Non-Current assets    
Advanced royalty payments 331,667 421,667
Notes receivable 637,437 760,384
Mineral leases 34,911,143 34,911,143
Investments 75,000  
Property, plant and equipment 35,644,292 33,613,650
Intangible assets 707,671 707,671
Total Non-Current Assets 72,307,210 70,414,515
Total Assets 75,148,173 72,855,918
Current liabilities    
Accounts payable 2,484,327 2,081,756
Accrued expenses 2,508,589 2,048,399
Ore Sale advances 283,976 283,976
Promissory notes 166,868  
Current portion of long-term debt 1,019,915 1,057,163
Current portion of convertible debentures 7,140,924 6,188,872
Derivative liability 1,018,738  
Related party payables 299,622 50,000
Total Current Liabilities 14,922,959 11,710,166
Non-Current liabilities    
Long-term debt 129,654 215,695
Convertible debentures 613,050 140,597
Reclamation and restoration provision 2,970,497 2,970,497
Total Non-Current Liabilities 3,713,201 3,326,789
Total Liabilities 18,636,160 15,036,955
Commitments and contingencies 0 0
SHAREHOLDERS' EQUITY    
Share capital 141,036,814 135,472,795
Subscription receipts 155,390 631,450
Deficit (84,680,191) (78,285,282)
Total Shareholders' Equity 56,512,013 57,818,963
Total Liabilities and Shareholders' Equity $ 75,148,173 $ 72,855,918