Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
May 31, 2019
Aug. 31, 2018
Current assets    
Cash $ 104,171 $ 2,640,001
Trade and other receivables 149,013 404,013
Current portion of advanced royalty payments 417,383 331,200
Ore inventory 270,000 122,242
Other inventory 71,390 71,390
Receivable from director 272,820 297,256
Prepaid expenses and other current assets 538,559 331,688
Total current assets 1,823,336 4,197,790
Non-Current Assets    
Advanced royalty payments 482,917 467,886
Notes receivable 1,754,001 381,550
Mineral lease 21,911,143 11,111,143
Investments 68,331 68,331
Investment in Accord GR Energy 831,137 981,137
Property, plant and equipment 28,985,632 21,188,895
Intangible assets 707,671 707,671
Total Non-Current Assets 54,740,832 34,906,613
Total Asset 56,564,168 39,104,403
Current liabilities    
Accounts payable 2,057,700 1,102,327
Accrued expenses 748,474 1,900,081
Unearned revenue 283,976 283,976
Current portion of debt 1,060,124 1,027,569
Current portion of convertible debentures 5,257,560 258,404
Total current liabilities 9,407,834 4,572,357
Non-Current Liabilities    
Unearned advance royalties received 170,000 170,000
Debt 252,409 598,982
Convertible debentures 250,000
Reclamation and Restoration provision 592,419 583,664
Total Non-Current Liabilities 1,014,828 1,602,646
Total Liabilities 10,422,662 6,175,003
SHAREHOLDERS’ EQUITY    
Share capital 121,692,057 95,426,796
Accumulated deficit (75,550,551) (62,497,396)
Total Shareholders’ Equity 46,141,506 32,929,400
Total Liabilities and Shareholders’ Equity $ 56,564,168 $ 39,104,403