17 unchanged sentences
In the past, we have held several other potential mineral properties in British Columbia, Canada, which have been written off based on the strength of the I-M Mine Project.
−Removed: As of January 31, 2021, based on management’s review of the carrying value of mineral rights, management determined that there is no evidence that the cost of these acquired mineral rights will not be fully recovered and accordingly, the Company determined that no adjustment to the carrying value of mineral rights was required.
+Added: As of April 30, 2021, based on management’s review of the carrying value of mineral rights, management determined that there is no evidence that the cost of these acquired mineral rights will not be fully recovered and accordingly, the Company determined that no adjustment to the carrying value of mineral rights was required.
As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and has incurred only acquisition and exploration costs.
16 unchanged sentences
Business Development
−Removed: Developments in our Company’s business during the July 31, 2020 fiscal year and the six-month period ended January 31, 2021 include the following:
+Added: Developments in our Company’s business during the July 31, 2020 fiscal year and the nine-month period ended April 30, 2021 include the following:
On July 3, 2019, the Company completed the first tranche of a non-brokered private placement.
29 unchanged sentences
Plan of Operations
−Removed: As at January 31, 2021, the Company had a cash balance of $2,112,768, compared to a cash balance of $3,378,826 as of July 31, 2020.
+Added: As at April 30, 2021, the Company had a cash balance of $1,534,934, compared to a cash balance of $3,378,826 as of July 31, 2020.
Our plan of operations for the next 12 months is to continue the Use Permit process in Nevada County California, to re-open the Idaho-Maryland gold mine at the I-M Mine Property.
4 unchanged sentences
A general outline of remaining milestones in the process to approval of the permit is outlined as follows;
−Removed: 1) County planning staff and Raney prepare a Draft EIR which includes holding a public scoping meeting and public comments on which issues should be covered by the EIR;
+Added: 1) County planning staff and Raney prepare a Draft EIR
2) Draft EIR is published for public comment;
1 unchanged sentence
4) County decision makers review the Final EIR, certify the environmental document and consider approval of the Use Permit and Reclamation Plan at a public hearing.
−Removed: The Company’s estimate of the remaining timeline to approval is approximately May 2021.
+Added: The Company’s estimate of the remaining timeline to approval is approximately late 2021.
Ancillary construction and operational permits would follow as needed.
18 unchanged sentences
Results of Operations
−Removed: For the Periods Ended January 31, 2021 and 2020
−Removed: The Company’s operating results for the periods ended January 31, 2021 and 2020 are summarized as follows:
+Added: For the Periods Ended April 30, 2021 and 2020
+Added: The Company’s operating results for the periods ended April 30, 2021 and 2020 are summarized as follows:
Liquidity and Capital Resources
Working Capital
−Removed: At January 31, 2021
+Added: At April 30, 2021
At July 31, 2020
3 unchanged sentences
Working Capital
−Removed: For the six-month period ended January 31, 2021
−Removed: For the six-month period ended January 31, 2020
+Added: For the nine-month period ended April 30, 2021
+Added: For the nine-month period ended April 30, 2020
Net Cash used in Operating Activities
2 unchanged sentences
Net Increase (decrease) in Cash During the Period
−Removed: As of January 31, 2021, the Company had $2,112,768 in cash, $2,506,964 in current assets, $7,244,765 in total assets, $291,682 in current liabilities and $1,743,752 in non-current liabilities, a working capital of $2,215,282 and an accumulated deficit of $18,598,151.
−Removed: During the six-month period ended January 31, 2021, the Company used $1,514,256 (2020 - $1,603,191) in net cash on operating activities.
+Added: As of April 30, 2021, the Company had $1,534,934 in cash, $1,860,442 in current assets, $6,591,845 in total assets, $179,885 in current liabilities and $1,573,489 in non-current liabilities, a working capital of $1,680,558 and an accumulated deficit of $18,969,011.
+Added: During the nine-month period ended April 30, 2021, the Company used $2,092,090 (2020 - $2,202,248) in net cash on operating activities.
The difference in net cash used in operating activities during the two periods was largely due to the lower net loss for the most recent period as a result of the revaluation adjustment of the derivative liability.
−Removed: The Company had no investing activities during the six-month periods ending January 31, 2021 (January 31, 2020 - $Nil).
−Removed: The Company received net cash of $248,198 (2020 - $3,015,604) from financing activities during the six-month period ended January 31, 2021.
+Added: The Company had no investing activities during the nine-month periods ending April 30, 2021 (April 30, 2020 - $Nil).
+Added: The Company received net cash of $248,198 (2020 - $3,013,896) from financing activities during the nine-month period ended April 30, 2021.
The Company expects to operate at a loss for at least the next 12 months.
17 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.