ADVENTUS MINING CORPORATION
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022 AND 2021
TABLE OF CONTENTS | |
Condensed Consolidated Statements of Financial Position ................................................................................ | 1 |
Condensed Consolidated Statements of (Loss) Earnings.................................................................................... | 2 |
Condensed Consolidated Statements of Comprehensive (Loss) Earnings.......................................................... | 3 |
Condensed Consolidated Statements of Cash Flows .......................................................................................... | 4 |
Condensed Consolidated Statements of Changes in Equity................................................................................ | 5 |
Notes to the Condensed Consolidated Financial Statements .............................................................................. | 6 |
ADVENTUS MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(UNAUDITED) AS AT
(Expressed in thousands of United States dollars) | Notes | June 30, 2022 | December 31, 2021 | |||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents | $ | 17,736 | $ | 2,929 | ||
Other receivables and prepaid expenses | 7 | 1,033 | 361 | |||
Total current assets | $ | 18,769 | $ | 3,290 | ||
Non-current assets | ||||||
Exploration and evaluation assets | 6 | $ | 95,738 | $ | 88,549 | |
Property, plant and equipment | 5 | 7,023 | 6,354 | |||
Other investments | 8 | 45 | - | |||
Total non-current assets | $ | 102,806 | $ | 94,903 | ||
TOTAL ASSETS | $ | 121,575 | $ | 98,193 | ||
LIABILITIES | ||||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | $ | 3,529 | $ | 2,515 | ||
Other liabilities | 9 | 92 | $ | - | ||
Total current liabilities | $ | 3,621 | $ | 2,515 | ||
Non-current liabilities | ||||||
Other liabilities | 9 | $ | 108 | $ | - | |
Total non-current liabilities | $ | 108 | $ | - | ||
Total liabilities | $ | 3,729 | $ | 2,515 | ||
Equity | ||||||
Shareholders' equity | $ | 103,700 | $ | 82,337 | ||
Non-controlling interest | 14,146 | 13,341 | ||||
Total equity | $ | 117,846 | $ | 95,678 | ||
TOTAL LIABILITIES AND EQUITY | $ | 121,575 | $ | 98,193 | ||
Commitments (Note 14) | ||||||
Subsequent events (Note 15) | ||||||
On behalf of the Board (Approved on August 26, 2022) | ||||||
/s/ "Christian Kargl-Simard" | /s/ "Paul Sweeney" | |||||
Christian Kargl-Simard, Director | Paul Sweeney, Director |
The accompanying notes form an integral part of these condensed consolidated financial statements. | Page | 1 |
ADVENTUS MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS
(UNAUDITED) | ||||||||
For the three months ended | For the six months ended | |||||||
(Expressed in thousands of United States dollars, | June 30, | June 30, | ||||||
except per share amounts) | Notes | 2022 | 2021 | 2022 | 2021 | |||
Expenses and other income | ||||||||
Employee benefits | $ | 444 | $ | 500 | $ | 873 | $ | 764 |
Professional and consulting fees | 546 | 167 | 728 | 276 | ||||
Other expenses | 367 | 259 | 618 | 422 | ||||
Share-based compensation | 10(c)(d) | 279 | 138 | 523 | 373 | |||
Reversal of impairment loss in investment | - | (1,253) | - | (1,253) | ||||
Depreciation | 5 | 4 | 12 | 6 | 24 | |||
Foreign exchange loss (gain) | 386 | (115) | 412 | (122) | ||||
Interest income | (37) | (11) | (53) | (30) | ||||
Gain on dilution of investment in associate | - | (18) | - | (18) | ||||
Share of loss in associate | - | 70 | - | 118 | ||||
Fair value gain on other investments | 8 | (45) | - | (45) | ||||
Fair value gain on derivative liabilities | 10(b) | (614) | - | (1,395) | - | |||
$ | 1,330 | $ | (251) | $ | 1,667 | $ | 554 | |
(Loss) earnings before income tax expense | (1,330) | 251 | (1,667) | (554) | ||||
Income tax expense | - | - | - | - | ||||
Net (loss) earnings | $ | (1,330) | $ | 251 | $ | (1,667) | $ | (554) |
Net (loss) earnings attributable to: | ||||||||
Common shareholders | (1,252) | 254 | (1,560) | (548) | ||||
Non-controlling interest | (78) | (3) | (107) | (6) | ||||
$ | (1,330) | $ | 251 | $ | (1,667) | $ | (554) | |
Net loss per common share attributable to | ` | |||||||
common shareholders | ||||||||
Basic and diluted | $ | (0.01) | $ | 0.00 | $ | (0.01) | $ | 0.00 |
Weighted average number of shares outstanding | ||||||||
Basic | 10(e) | 166,360,882 | 131,141,382 | 161,586,089 | 131,136,133 | |||
Diluted | 10(e) | 166,360,882 | 133,216,468 | 161,586,089 | 131,136,133 | |||
The accompanying notes form an integral part of these condensed consolidated financial statements. | Page | 2 |
ADVENTUS MINING CORPORATION | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (EARNINGS) | ||||||||
(UNAUDITED) | For the three months ended | For the six months ended | ||||||
June 30, | June 30, | |||||||
(Expressed in thousands of United States dollars) | 2022 | 2021 | 2022 | 2021 | ||||
Net (loss) earnings | $ | (1,330) | $ | 251 | $ | (1,667) | $ | (554) |
Other comprehensive (loss) earnings | ||||||||
To be reclassified subsequently to | ||||||||
profit or loss: | ||||||||
Foreign currency translation adjustment on | 7 | 13 | 10 | 31 | ||||
foreign operations | ||||||||
Total comprehensive (loss) earnings | $ | (1,323) | $ | 264 | $ | (1,657) | $ | (523) |
Total comprehensive (loss) earnings attributable to: | ||||||||
Common shareholders | (1,245) | 267 | (1,550) | (517) | ||||
Non-controlling interest | (78) | (3) | (107) | (6) | ||||
$ | (1,323) | $ | 264 | $ | (1,657) | $ | (523) | |
The accompanying notes form an integral part of these condensed consolidated financial statements. | Page | 3 |
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Adventus Mining Corp. published this content on 27 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2022 16:31:59 UTC.