Marimaca Copper Corp.
Condensed Interim Consolidated Financial Statements
For the Three and Six Months Ended June 30, 2023 and 2022
(Unaudited, expressed in thousands of U.S. dollars, except where indicated)
Marimaca Copper Corp.
Condensed Interim Consolidated Statements of Financial Position
As at June 30, 2023, and December 31, 2022.
(Unaudited, expressed in thousands of U.S. dollars, except where indicated)
As at | As at | |||
June 30, 2023 | December 31, 2022 | |||
Assets | ||||
Current assets | ||||
Cash | $ | 7,801 | $ | 14,636 |
Amounts receivable and prepaid expenses (Note 3(c)) | 4,947 | 4,830 | ||
12,748 | 19,466 | |||
Non-current assets | ||||
Amounts receivable (Note 3(c)) | 3,936 | 3,936 | ||
Property, plant and equipment | 22 | 21 | ||
Exploration and evaluation assets (Note 4) | 66,634 | 61,402 | ||
Total assets | $ | 83,340 | $ | 84,825 |
Liabilities | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities (Note 5) | $ | 1,129 | $ | 561 |
Total liabilities | 1,129 | 561 | ||
Shareholders' equity (Note 6) | ||||
Common shares | 192,832 | 192,800 | ||
Contributed surplus | 32,093 | 30,553 | ||
Accumulated other comprehensive income ("AOCI") | 266 | 112 | ||
Deficit | (142,980) | (139,201) | ||
Total equity | 82,211 | 84,264 | ||
Total liabilities and equity | $ | 83,340 | $ | 84,825 |
Nature of Operations and Liquidity Risk (Note 1) | ||||
Subsequent Event (Note 10) |
The accompanying notes are an integral part of these unaudited condensed interim consolidated
financial statements.
Marimaca Copper Corp.
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
For the three and six months ended June 30, 2023 and 2022
(Unaudited, expressed in thousands of U.S. dollars, except where indicated)
Three months ended June 30, | Six months ended June 30, | |||||||
2023 | 2022 | 2023 | 2022 | |||||
(Restated - Note | ||||||||
2(c)) | ||||||||
Expenses | ||||||||
Exploration expenditures | $ | - | $ | - | $ | - | $ | 55 |
Depreciation and amortization | 3 | 11 | 6 | 23 | ||||
Legal and filing fees | 58 | 36 | 148 | 102 | ||||
Other corporate costs | 731 | 190 | 1,050 | 369 | ||||
Salaries and management fees | 616 | 374 | 1,240 | 774 | ||||
Share-based compensation (Note 6(b)) | 1,170 | 951 | 1,570 | 2,635 | ||||
Operating loss | (2,578) | (1,562) | (4,014) | (3,958) | ||||
Finance income | 115 | 60 | 219 | 76 | ||||
Change in fair value of derivative (Note 3(c)) | 1 | - | (3) | - | ||||
Foreign exchange gain | (58) | 62 | 19 | 226 | ||||
Loss from continuing operations | $ | (2,520) | $ | (1,440) | $ | (3,779) | $ | (3,656) |
Discontinued operations | ||||||||
Loss from discontinued operations (Note 3(a)) | - | - | - | 2,817 | ||||
Net income (loss) | $ | (2,520) | $ | (1,440) | $ | (3,779) | $ | (839) |
Other comprehensive income | ||||||||
Items that may be reclassified subsequently to net income: | ||||||||
Foreign currency translation adjustment | 148 | (296) | 154 | (152) | ||||
Comprehensive income (loss) | $ | (2,372) | $ | (1,736) | $ | (3,625) | $ | (991) |
Loss per share from continuing operations | ||||||||
Basic and dilulted loss per share | $ | (0.03) | $ | (0.02) | $ | (0.04) | $ | (0.04) |
Income (loss) per share from discontinued operations | ||||||||
Basic and diluted loss per share | $ | - | $ | - | $ | - | $ | 0.03 |
Loss per share | ||||||||
Basic and diluted loss per share | $ | (0.03) | $ | (0.02) | $ | (0.04) | $ | 0.00 |
Weighted average number of shares outstanding (000's) | ||||||||
Basic | 88,234 | 88,209 | 88,230 | 88,144 | ||||
Diluted | 89,998 | 89,500 | 89,773 | 89,464 |
The accompanying notes are an integral part of these unaudited condensed interim consolidated
financial statements.
Marimaca Copper Corp.
Condensed Interim Consolidated Statements of Shareholders' Equity
For the six months ended June 30, 2023 and 2022
(Unaudited, expressed in thousands of U.S. dollars, except where indicated)
The accompanying notes are an integral part of these unaudited condensed interim consolidated
financial statements.
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Marimaca Copper Corp. published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 18:23:06 UTC.