UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021
TABLE OF CONTENTS
Condensed Consolidated Statements of Financial Position ................................................................................
1
Condensed Consolidated Statements of (Loss) Earnings....................................................................................
2
Condensed Consolidated Statements of Comprehensive (Loss) Earnings..........................................................
3
Condensed Consolidated Statements of Cash Flows ..........................................................................................
4
Condensed Consolidated Statements of Changes in Equity................................................................................
5
Notes to the Condensed Consolidated Financial Statements ..............................................................................
6
ADVENTUS MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(UNAUDITED) AS AT
(Expressed in thousands of United States dollars)
Notes
June 30, 2022
December 31, 2021
ASSETS
Current assets
Cash and cash equivalents
$
17,736
$
2,929
Other receivables and prepaid expenses
7
1,033
361
Total current assets
$
18,769
$
3,290
Non-current assets
Exploration and evaluation assets
6
$
95,738
$
88,549
Property, plant and equipment
5
7,023
6,354
Other investments
8
45
-
Total non-current assets
$
102,806
$
94,903
TOTAL ASSETS
$
121,575
$
98,193
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities
$
3,529
$
2,515
Other liabilities
9
92
$
-
Total current liabilities
$
3,621
$
2,515
Non-current liabilities
Other liabilities
9
$
108
$
-
Total non-current liabilities
$
108
$
-
Total liabilities
$
3,729
$
2,515
Equity
Shareholders' equity
$
103,700
$
82,337
Non-controlling interest
14,146
13,341
Total equity
$
117,846
$
95,678
TOTAL LIABILITIES AND EQUITY
$
121,575
$
98,193
Commitments (Note 14)
Subsequent events (Note 15)
On behalf of the Board (Approved on August 26, 2022)
/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 (LOSS) EARNINGS
(UNAUDITED)
For the three months ended
For the six months ended
(Expressed in thousands of United States dollars,
June 30,
June 30,
except per share amounts)
Notes
2022
2021
2022
2021
Expenses and other income
Employee benefits
$
444
$
500
$
873
$
764
Professional and consulting fees
546
167
728
276
Other expenses
367
259
618
422
Share-based compensation
10(c)(d)
279
138
523
373
Reversal of impairment loss in investment
-
(1,253)
-
(1,253)
Depreciation
5
4
12
6
24
Foreign exchange loss (gain)
386
(115)
412
(122)
Interest income
(37)
(11)
(53)
(30)
Gain on dilution of investment in associate
-
(18)
-
(18)
Share of loss in associate
-
70
-
118
Fair value gain on other investments
8
(45)
-
(45)
Fair value gain on derivative liabilities
10(b)
(614)
-
(1,395)
-
$
1,330
$
(251)
$
1,667
$
554
(Loss) earnings before income tax expense
(1,330)
251
(1,667)
(554)
Income tax expense
-
-
-
-
Net (loss) earnings
$
(1,330)
$
251
$
(1,667)
$
(554)
Net (loss) earnings attributable to:
Common shareholders
(1,252)
254
(1,560)
(548)
Non-controlling interest
(78)
(3)
(107)
(6)
$
(1,330)
$
251
$
(1,667)
$
(554)
Net loss per common share attributable to
`
common shareholders
Basic and diluted
$
(0.01)
$
0.00
$
(0.01)
$
0.00
Weighted average number of shares outstanding
Basic
10(e)
166,360,882
131,141,382
161,586,089
131,136,133
Diluted
10(e)
166,360,882
133,216,468
161,586,089
131,136,133
The accompanying notes form an integral part of these condensed consolidated financial statements.
Page | 2
ADVENTUS MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (EARNINGS)
(UNAUDITED)
For the three months ended
For the six months ended
June 30,
June 30,
(Expressed in thousands of United States dollars)
2022
2021
2022
2021
Net (loss) earnings
$
(1,330)
$
251
$
(1,667)
$
(554)
Other comprehensive (loss) earnings
To be reclassified subsequently to
profit or loss:
Foreign currency translation adjustment on
7
13
10
31
foreign operations
Total comprehensive (loss) earnings
$
(1,323)
$
264
$
(1,657)
$
(523)
Total comprehensive (loss) earnings attributable to:
Common shareholders
(1,245)
267
(1,550)
(517)
Non-controlling interest
(78)
(3)
(107)
(6)
$
(1,323)
$
264
$
(1,657)
$
(523)
The accompanying notes form an integral part of these condensed consolidated financial statements.
Page | 3
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Adventus Mining Corp. published this content on 27 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2022 16:31:59 UTC.
Adventus Mining Corporation is a copper-gold exploration and development company. Its Curipamba project comprises seven concessions representing over 21,500 hectares (ha) and includes the advanced high-grade copper-gold El Domo deposit. Its Pijili project is located in an established mining area in southwestern Ecuador in the province of Azuay, over 150 kilometers (km) from the major port city of Guayaquil. Pijili consists of three concessions, which total 3,246 ha. Its Santiago project is located in south-central Ecuador in the province of Loja, over 37 km north of the city of Loja. Its Irish projects hold about 40 exploration prospecting licenses in the Republic of Ireland, comprising three separate blocks across the principal prospective areas of the North Midlands and Southwest Ireland. Its Irish projects include Rathkeale project, Kingscourt project and Fermoy project. It also owns the Condor gold project and a large exploration project portfolio that spans over 135,000 hectares.
ADVENTUS MINING CORPORATION 
