NEWRANGE GOLD CORP.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
October 31, 2021
NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.
The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
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NEWRANGE GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
October 31, | April 30, | ||||||||
2021 | 2021 | ||||||||
ASSETS | |||||||||
Current | |||||||||
Cash | $ | 704,512 | $ | 2,865,416 | |||||
Receivables | 18,387 | 39,646 | |||||||
Marketable securities (Note 8) | 46,885 | 524,069 | |||||||
Prepaid expenses (Note 11) | 230,033 | 153,849 | |||||||
999,817 | 3,582,980 | ||||||||
Right-of-use asset (Note 3) | - | 5,139 | |||||||
Land and equipment (Note 4) | 78,609 | 51,392 | |||||||
Mineral properties (Note 5) | 2,396,054 | 1,890,509 | |||||||
TOTAL ASSETS | $ | 3,474,480 | $ | 5,530,020 | |||||
LIABILITIES AND EQUITY | |||||||||
Current | |||||||||
Accounts payable and accrued liabilities | $ | 325,990 | $ | 100,543 | |||||
Related party payables (Note 11) | 60,937 | 108,240 | |||||||
Flow-through premium (Note 9) | 131,982 | 250,000 | |||||||
Lease liability (Note 3) | - | 5,925 | |||||||
518,909 | 464,708 | ||||||||
Loan payable (Note 7) | 40,000 | 40,000 | |||||||
TOTAL LIABILITIES | 558,909 | 504,708 | |||||||
EQUITY | |||||||||
Share capital (Note 9) | 31,607,935 | 31,607,935 | |||||||
Reserves (Note 9) | 9,806,802 | 9,806,802 | |||||||
Deficit | (38,499,166) | (36,389,425) | |||||||
TOTAL EQUITY | 2,915,571 | 5,025,312 | |||||||
TOTAL LIABILITIES AND EQUITY | $ | 3,474,480 | $ | 5,530,020 | |||||
Nature and continuance of operations (Note 1) | |||||||||
Subsequent event (Note 16) | |||||||||
Approved on behalf of the Board of Directors on December 22, 2021: | |||||||||
Signed: "Robert Archer" | Director | Signed: "Ron Schmitz" | Director |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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NEWRANGE GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Expressed in Canadian Dollars)
(Unaudited Prepared by Management)
Three months ended | Six months ended | |||||||
October 31, | October 31, | |||||||
2021 | 2020 | 2021 | 2020 | |||||
EXPENSES | ||||||||
Administration and office costs (Notes 11 and 14) | $ | 96,198 | $ | 107,415 | $ | 214,408 | $ | 206,623 |
Depreciation of right-of-use asset (Note 3) | 2,113 | 3,315 | 5,195 | 6,746 | ||||
Exploration expenditures, net (Note 6) | 489,659 | 376,840 | 1,729,486 | 960,758 | ||||
Recovery of flow through premium liability | (50,059) | - | (118,018) | - | ||||
Foreign exchange loss (gain) | (4,008) | 2,356 | (7,429) | 2,903 | ||||
Gain on recovery of exploration expenditures | - | - | - | (35,055) | ||||
Marketing services and shareholder information | 78,655 | 68,053 | 171,224 | 189,635 | ||||
Other income | (41,413) | (88,994) | (41,413) | (149,180) | ||||
Professional fees | 39,289 | 24,793 | 50,174 | 34,634 | ||||
Realized loss (gain) on marketable securities (Note 8) | 205,807 | - | 205,807 | (276,616) | ||||
Transfer agent and filing fees | 5,043 | 8,843 | 6,223 | 10,940 | ||||
Unrealized loss (gain) on marketable securities (Note 8) | (165,013) | (2,250) | (105,916) | 199,169 | ||||
Net loss and comprehensive loss for the period | $ | (656,271) | $ | (500,371) | $ | (2,109,741) | $ | (1,150,557) |
Basic and diluted loss per common share | $ | (0.00) | $ | (0.00) | $ | (0.01) | $ | (0.01) |
Weighted average number of common shares outstanding | ||||
Basic | 150,450,072 | 121,939,252 | 150,450,072 | 118,960,488 |
Diluted | 150,450,072 | 121,939,252 | 150,450,072 | 118,960,488 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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NEWRANGE GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in Canadian Dollars)
(Unaudited - Prepared by Management)
SIX MONTHS ENDED OCTOBER 31,
2021 | 2020 | |||
CASH FLOWS FROM (TO) | ||||
OPERATIONS | ||||
Net loss for the period from continuing operations | $ | (2,109,741) | $ | (1,150,557) |
Adjustments for: | ||||
Depreciation included in exploration expenditures | 13,888 | 24,125 | ||
Depreciation of right-of-use asset | 5,195 | 6,746 | ||
Foreign exchange | 8 | (62) | ||
Realized loss (gain) on marketable securities | 205,807 | (276,616) | ||
Recovery of flow through premium liability | (118,018) | - | ||
Unrealized loss (gain) on marketable securities | (105,916) | 199,169 | ||
Changes in non-cash working capital items: | ||||
Receivables | 21,259 | (6,325) | ||
Prepaid expenses | (76,184) | (171,437) | ||
Accounts payable, accrued liabilities and related party | 178,144 | (112,903) | ||
(1,985,558) | (1,487,860) | |||
INVESTING | ||||
Acquisition of mineral properties | (505,545) | (339,190) | ||
Purchase of equipment | (41,105) | - | ||
Sale of marketable securities | 377,293 | 713,441 | ||
(169,357) | 374,251 | |||
FINANCING | ||||
Lease payments | (5,989) | (6,747) | ||
Loans received | - | 40,000 | ||
Shares issued for stock options exercised | - | 116,968 | ||
Shares issued for warrants exercised | - | 1,271,600 | ||
(5,989) | 1,421,821 | |||
Change in cash | (2,160,904) | 308,212 | ||
Cash at beginning of period | 2,865,416 | 519,268 | ||
Cash at end of period | $ | 704,512 | $ | 827,480 |
Supplementary cash flow information | ||||
Cash paid for interest and income taxes | $ | - | $ | - |
Non-cash financing and investing activities: | ||||
Fair value of stock options exercised | $ | - | $ | 71,161 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Newrange Gold Corporation published this content on 29 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 December 2021 00:36:05 UTC.