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    BRAU   CA08949R1073

BIG RIDGE GOLD CORP.

(BRAU)
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Big Ridge Gold : Condensed Interim Consolidated Financial Statements for the three months ended September 30, 2021

11/25/2021 | 11:20pm EST

BIG RIDGE GOLD CORP.

(An Exploration Stage Company)

CONDENSED INTERIM

CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended

September 30, 2021 and 2020

Notice to Reader

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the unaudited interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements have been prepared by and are the responsibility of the Corporation's management.

The Corporation's independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of unaudited interim financial statements by an entity's auditor.

RESPONSIBILITY FOR CONDENSED INTERIM FINANCIAL STATEMENTS

The accompanying condensed interim consolidated financial statements of Big Ridge Gold Corp. are the responsibility of the Board of Directors and Management. The financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and, where appropriate, include management's best estimates and judgments.

Management maintains a system of internal control designed to provide reasonable assurance that assets are safeguarded from loss or unauthorized use, and that financial information is timely and reliable. However, any system of internal control over financial reporting, no matter how well designed and implemented, has inherent limitations and may not prevent or detect all misstatements.

The Board of Directors is responsible for ensuring that management fulfills its responsibilities for financial reporting and is ultimately responsible for reviewing and approving the financial statements.

The Board of Directors carries out this responsibility principally through its Audit Committee. The Board of Directors appoints the Audit Committee, the majority of whose members are independent directors. The Audit Committee meets periodically with Management to review the financial reporting process and financial statements, together with other financial information of the Company. The Audit Committee reports its findings to the Board of Directors for its consideration in approving the consolidated financial statements together with other financial information of the Company for issuance to the shareholders. The Board of Directors approves the financial statements on recommendation from the Audit Committee.

Michael Bandrowski

Jim Kirke

President and Chief Executive Officer

Chief Financial Officer

2 | P a g e

Table of Contents

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION .................................

4

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE

LOSS..................................................................................................................................................................

5

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS ..............................................

6

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY..7

1.

NATURE OF OPERATIONS......................................................................................................................

8

2.

BASIS OF PREPARATION........................................................................................................................

8

3.

SUMMARY OF ACCOUNTING POLICIES................................................................................................

9

4.

PLAN OF ARRANGEMENT (THE "TRANSACTION").............................................................................

10

5.

MARKETABLE SECURITIES ..................................................................................................................

11

6.

EXPLORATION AND EVALUATION ASSETS........................................................................................

12

7.

SHARE CAPITAL.....................................................................................................................................

16

8.

WARRANTS.............................................................................................................................................

18

9.

SHARE-BASED COMPENSATION .........................................................................................................

20

10. GENERAL AND ADMINISTRATIVE EXPENSES................................................................................

23

11. SALARIES, WAGES AND BENEFITS.................................................................................................

23

12.

FINANCE EXPENSE, NET ..................................................................................................................

23

13. CHANGES IN NON-CASH WORKING CAPITAL................................................................................

24

14.

RELATED PARTY TRANSACTIONS ..................................................................................................

24

15.

SUBSEQUENT EVENT .......................................................................................................................

24

3 | P a g e

BIG RIDGE GOLD CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

Unaudited - Expressed in Canadian dollars

September 30

June 30

Note

2021

2020

$

$

ASSETS

Current assets

Cash and cash equivalents

10,509,782

8,295,125

Amounts receivable

85,012

49,379

Marketable securities

5

214,590

530,613

Prepaids and deposits

239,289

7,844

Total Current Assets

11,048,673

8,882,961

Property, plant and equipment

107,441

-

Exploration and evaluation assets

6

4,071,192

4,071,192

Total Assets

15,227,306

12,954,153

LIABILITIES AND EQUITY

Current liabilities

Accounts payable and accrued liabilities

445,202

183,121

445,202

183,121

Deferred Share Unit liability

9

151,581

2,181

Total Liabilities

596,783

185,302

SHAREHOLDERS' EQUITY

Share capital

7

35,974,316

32,759,316

Contributed surplus - warrants

8

1,303,426

1,303,426

Contributed surplus - options

9

1,879,364

1,832,879

Deficit

(24,526,583)

(23,126,770)

Total Shareholders' Equity

14,630,523

12,768,851

Total Liabilities and Shareholders' Equity

15,227,306

12,954,153

Nature of operations (Note 1)

Subsequent event (Note 15)

Approved and authorized by the Board of Directors on November 23, 2021

"Nick Tintor" , Director

"Michael Bandrowski" , Director

4 | P a g e

The accompanying notes are an integral part of these condensed interim consolidated financial

statements.

BIG RIDGE GOLD CORP.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE

LOSS

For the three months ended September 30

Expressed in Canadian dollars

2021

2020

Note

$

$

EXPENSES

Exploration expense

6

653,022

6,700

General and administrative expense

10

435,474

325,143

Finance expense, net

12

311,317

3,571

Loss and Comprehensive Loss

1,399,813

335,414

Loss and comprehensive loss per share

$

$

Basic and diluted

0.01

0.01

Weighted average number of common shares

#

#

outstanding

Basic and diluted

103,791,064

43,897,452

5 | P a g e

The accompanying notes are an integral part of these condensed interim consolidated financial

statements.

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

Disclaimer

Big Ridge Gold Corp. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 04:19:09 UTC.


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Financials
Sales 2021 - - -
Net income 2021 -0,91 M -0,73 M -0,73 M
Net cash 2021 8,83 M 7,01 M 7,01 M
P/E ratio 2021 -19,5x
Yield 2021 -
Capitalization 29,2 M 23,1 M 23,2 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 87,0%
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Income Statement Evolution
Managers and Directors
Michael Bandrowski President, Chief Executive Officer & Director
James D. Kirke Chief Financial Officer
Nicholas Tintor Non-Executive Chairman
Williams C. Williams Independent Director
Richard J. Mazur Director
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