In accordance with National Instrument 51-102 of the Canadian Securities Administrators, the Company discloses that its external auditors have not reviewed the unaudited condensed interim consolidated financial statements for the three months ended March 31, 2022. These financial statements have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company.
Medgold Resources Corp.
(Exploration Stage Company)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
(Expressed in Canadian Dollars)
March 31,
December 31,
2022
2021
ASSETS
Current assets
Cash
$
307,915
$
396,825
Amounts receivable
3,141
4,280
Prepaid expenses and deposits
5,370
5,599
Total current assets
316,426
406,704
Non-current assets
Long-term deposits (Note 9)
61,000
61,000
Property and equipment (Note 4)
35,238
42,240
Exploration and evaluation assets (Note 5)
43,020
43,020
Total non-current assets
139,258
146,260
$
455,684
$
552,964
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable and accrued liabilities
$
31,425
$
25,528
Due to related parties (Note 9)
95,327
50,227
Total liabilities
126,752
75,755
Shareholders' equity
Share capital (Note 6)
15,751,347
15,751,347
Other equity reserves (Note 7)
1,668,448
1,649,086
Accumulated other comprehensive loss
(157,952)
(157,952)
Deficit
(16,932,911)
(16,765,272)
Total shareholders' equity
328,932
477,209
$
455,684
$
552,964
APPROVED ON BEHALF OF THE BOARD ON MAY 26, 2022:
"Jeremy Crozier"
"Ralph Rushton"
Jeremy Crozier, Director
Ralph Rushton, Director
The accompanying notes form an integral part of these condensed interim consolidated financial statements
1
Medgold Resources Corp.
(Exploration Stage Company)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (UNAUDITED)
(Expressed in Canadian Dollars)
Three months ended March 31,
2022
2021
Exploration expenditures (Notes 8 and 9)
$
93,952
$
195,667
General and administrative expenses
Depreciation (Note 4)
7,002
8,411
Foreign exchange loss
4,375
2,892
Legal and accounting
3,231
3,347
Management fees (Note 9)
21,750
23,750
Office and administration (Note 9)
17,081
20,773
Salaries and benefits (Note 9)
17,870
17,161
Shareholder communications (Note 9)
235
34,986
Share-based payments (Note 7)
19,362
12,131
Transfer agent and regulatory fees
7,123
11,277
Travel and accommodation (Note 9)
1,633
5,663
99,662
140,391
Loss before other item
(193,614)
(336,058)
Other item
Interest and other income (Note 5)
25,975
743
Net loss and comprehensive loss for the period
$
(167,639)
$
(335,315)
Loss per share, basic and diluted
$(0.00)
$(0.00)
Weighted average number of shares outstanding
134,789,032
134,789,032
The accompanying notes form an integral part of these condensed interim consolidated financial statements
2
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Medgold Resources Corp. published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 17:40:00 UTC.
Electrum Discovery Corp., formerly Medgold Resources Corp., is a Canada-based mineral exploration and development company. The Company is focused on the Western Tethyan Belt with activities in the Republic of Serbia. It focuses on its copper-gold Timok East Project. The Company holds a portfolio of exploration licenses in Serbia covering close to 1,000 square kilometers.
ELECTRUM DISCOVERY CORP. 
