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    ADZN   CA00791E1025

ADVENTUS MINING CORPORATION

(ADZN)
  Report
Delayed Quote. Delayed Bourse de Toronto - 01/20 03:59:59 pm
0.91 CAD   -10.78%
01/20IIROC Trading Resumption - ADZN
AQ
01/19Adventus Mining Raising C$30 Million in a Bought-Deal Public Offering of Share Units
MT
01/19Adventus Announces C$30 Million Bought Deal Public Offering
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Adventus Mining : 2021Q3 Interim Financial Statements

11/23/2021 | 04:30pm EST

ADVENTUS MINING CORPORATION

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

TABLE OF CONTENTS

Condensed Consolidated Statements of Financial Position ..........................................................................

1

Condensed Consolidated Statements of Earnings (Loss)..............................................................................

2

Condensed Consolidated Statements of Comprehensive Earnings (Loss)....................................................

3

Condensed Consolidated Statements of Cash Flows ....................................................................................

4

Condensed Consolidated Statements of Changes in Equity..........................................................................

5

Notes to the Condensed Consolidated Financial Statements ...................................................................

6-17

ADVENTUS MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(UNAUDITED) AS AT

(Expressed in thousands of United States dollars)

Notes

September 30,

December 31, 2020

2021

ASSETS

Current assets

Cash and cash equivalents

$

9,043

$

21,618

Advances made on options to acquire mineral interests

8

27

21

Other receivables and prepaid expenses

8

199

745

Total current assets

$

9,269

$

22,384

Non-current assets

Exploration and evaluation assets

7

$

15,355

$

12,866

Options to acquire mineral interests

7

44,221

28,844

Property, plant and equipment

6

281

337

Investment in associate

4

-

1,094

Total non-current assets

$

59,857

$

43,141

TOTAL ASSETS

$

69,126

$

65,525

LIABILITIES

Current liabilities

Accounts payable and accrued liabilities

$

3,377

$

1,236

Total current liabilities

$

3,377

$

1,236

Equity

Shareholders' equity

$

64,301

$

62,831

Non-controlling interest

1,448

1,458

Total equity

$

65,749

$

64,289

TOTAL LIABILITIES AND EQUITY

$

69,126

$

65,525

Commitments (Note 13)

Subsequent event (Note 14)

On behalf of the Board (Approved on November 23, 2021)

/s/ "Christian Kargl-Simard"

/s/ "Paul Sweeney"

Christian Kargl-Simard, Director

Paul Sweeney, Director

The accompanying notes form an integral part of these condensed consolidated financial statements.

Page | 1

ADVENTUS MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)

(UNAUDITED)

For the three months ended

For the nine months ended

(Expressed in thousands of United States dollars,

September 30,

September 30,

except per share amounts)

Notes

2021

2020

2021

2020

Expenses and other income

Employee benefits

$

239

$

248

$

1,003

$

704

Professional and consulting fees

400

379

676

599

Other expenses

208

117

630

352

Share-based compensation

9(b) 9(c)

155

253

528

823

Impairment loss on investment

5

-

-

-

162

Reversal of impairment loss in associate

4

-

-

(1,253)

-

Depreciation

5

8

29

10

Foreign exchange loss (gain)

150

(98)

28

220

Interest income

(7)

(17)

(37)

(48)

Loss (gain) on dilution of investment in

4

-

7

(18)

-

associate

Share of loss in associate

4

-

13

118

42

Gain on disposal of investment in associate

4

(2,985)

-

(2,985)

-

$

(1,835)

$

910

$

(1,281)

$

2,864

Earnings (loss) before income tax expense

1,835

(910)

1,281

(2,864)

Income tax expense

-

-

-

-

Net earnings (loss)

$

1,835

$

(910)

$

1,281

$

(2,864)

Net earnings (loss) attributable to:

Common shareholders

1,839

(907)

1,291

(2,857)

Non-controlling interest

(4)

(3)

(10)

(7)

$

1,835

$

(910)

$

1,281

$

(2,864)

Net earnings (loss) per common share

`

attributable to common shareholders

Basic and diluted

$

0.01

$

(0.01)

$

0.01

$

(0.03)

Weighted average number of shares outstanding

Basic

9(d)

131,141,382

116,233,483

131,137,902

105,845,460

Diluted

9(d)

132,522,382

116,233,483

132,518,902

105,845,460

The accompanying notes form an integral part of these condensed consolidated financial statements.

Page | 2

ADVENTUS MINING CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)

(UNAUDITED)

For the three months ended

For the nine months ended

September 30,

September 30,

(Expressed in thousands of United States dollars)

2021

2020

2021

2020

Net earnings (loss)

$

1,835

$

(910)

$

1,281

$

(2,864)

Other comprehensive earnings (loss)

To be reclassified subsequently to profit or loss:

Foreign currency translation adjustment on foreign operations

Other comprehensive earnings

Reclassified to profit and loss:

Foreign currency translation adjustment on investment disposed of in the period

3

2

6

(26)

(94)

-

(66)

-

Total comprehensive earnings (loss)

$

1,744

$

(908)

$

1,221

$

(2,890)

Total comprehensive earnings (loss) attributable to:

Common shareholders

1,748

(905)

1,231

(2,883)

Non-controlling interest

(4)

(3)

(10)

(7)

$

1,744

$

(908)

$

1,221

$

(2,890)

The accompanying notes form an integral part of these condensed consolidated financial statements.

Page | 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Adventus Mining Corp. published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 21:29:15 UTC.


© Publicnow 2021
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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 120 M 96,2 M 95,8 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float 62,3%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Last Close Price 0,91 CAD
Average target price 1,93 CAD
Spread / Average Target 112%
Managers and Directors
Christian Kargl-Simard President, Chief Executive Officer & Director
Frances Kwong CFO, Secretary & Vice President-Finance
Mark Wellings Chairman
Sally Louise Eyre Independent Director
Paul Bristol Sweeney Independent Non-Executive Director
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