In accordance with subsection 4.3(3) of National Instrument 51-102, management of the Company advises that the Company's auditors have not performed a review of these interim financial statements.
2 | P a g e
Amarc Resources Ltd.
(UnauditedCondensed- ExpressedInterimin CanadianConsolidatedDollars) Statements of Financial Position
June 30,
March 31,
2023
2023
Note
($)
($)
ASSETS
3
7,324,073
5,131,510
Cash
Current assets
6
117,715
218,351
Amounts receivable and other assets
Marketable securities
4
82,342
139,284
Non-curr nt sets
5
7,524,130
5,489,145
Restricted cash
539,834
539,834
Right-of-use asset
13
57,164
62,208
Total assets
8,121,128
6,091,187
LIABILITIES AND SHAREHOLDERS' EQUITY
8
718,822
1,180,863
Accounts payable and accrued liabilities
Current liabilities
7(b, c)
6,973,993
4,124,349
Advanced contributions received
Balances due to related parties
11
582,418
530,512
Lease liability
13
21,435
20,696
Director's loan
9
8,296,668
5,856,420
678,477
648,005
Non-current liabilities
13
46,608
52,207
Lease liability
Total liabilities
9,021,753
6,556,632
Share capital
10
65,228,921
65,228,921
Shareholders' deficiency
10
4,259,712
4,289,896
Reserves
Accumulated deficit
(70,389,258)
(69,984,263)
(900,625)
(465,446)
Total liabilities and shareholders' deficiency
8,121,128
6,091,186
Nature of operations and going concern (note 1)
Events after the reporting period (note 15)
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
/s/ Robert A. Dickinson
/s/ Scott D. Cousens
Robert A. Dickinson
Scott D. Cousens
Director
Director
3 | P a g e
Amarc Resources Ltd.
(UnauditedCondensed- ExpressedInterimin CanadianConsolidatedDollars, except for weightedStatementsaverage numberof (Income)of common shares)Loss
Three months ended June 30,
Note
2023
2022
($)
($)
Exploration and evaluation
7
2,395,347
1,809,381
enses
Assays and analysis
360,966
50,756
Drilling
-
342,027
Environmental
17,470
-
Equipment rental
37,466
-
Freight
24,591
-
Geological, including geophysical
804,324
198,506
Graphics
10,982
-
Helicopter and fuel
431,025
213,775
Property acquisition and assessments costs
102,928
102,418
Site activities
444,521
727,583
Socioeconomic
44,806
128,534
Technical data
14,453
11,250
Travel and accommodation
101,815
34,532
Administration
181,113
146,576
Legal, accounting and audit
12(b)
3,944
8,469
Office and administration
72,332
67,608
Rent
12,595
9,900
Shareholder communication
70,906
33,230
Travel and accommodation
16,265
4,442
Trust and regulatory
5,071
22,927
Equity-settledshare-based compensation
26,758
38,792
Cost recoveries
7
(1,799,566)
(2,538,247)
Other items
803,652
(543,498)
Finance income
9
(85,956)
(1,983)
Interest expense - director's loans
24,932
28,712
Accretion expense - office lease
7
2,071
2,596
Other fee income
(375,000)
(239,835)
Amortization of right-of-use asset
9
5,045
5,044
Transaction cost - director's loans
30,472
18,661
Foreign exchange loss
(220)
593
Other comprehensive (income) loss
404,996
(729,711)
Net (income) loss
Change in value of marketable securities
56,942
(98,524)
Items that will not be reclassified subsequ ntly to loss:
461,938
(828,235)
Basic and diluted (income) loss per share
Total other comprehensive (income) loss
0.00
(0.00)
shares outstanding
186,602,894
186,602,894
Weighted average number of common
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4 | P a g e
Amarc Resources Ltd.
(UnauditedCondensed- ExpressedInterimin CanadianConsolidatedDollars) Statements of Comprehensive Income (loss)
Three months ended June 30,
2023
2022
Net income (loss)
$
(404,996)
$
729,711
Items that will not be reclassified subsequently to profit and loss:
Other comprehensive income (loss):
(56,942)
98,524
Revaluation of marketable securities
Total other comprehensive income (loss)
(56,942)
98,524
$
(461,938)
$
828,235
Comprehensive income
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
5 | P a g e
Attachments
Original Link
Original Document
Permalink
Disclaimer
Amarc Resources Ltd. published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 16:55:09 UTC.
Amarc Resources Ltd. is a Canada-based mineral exploration and development company. The Company is focused on developing a new generation of long-life, high value British Columbia (BC) porphyry copper-gold (Cu-Au) mines. The Company is advancing its JOY, DUKE, and IKE porphyry Cu+Au deposit districts located in northern, central and southern BC, respectively. Its 100%-owned, 495 square kilometers (km2) JOY District covers the northern extension of the prolific Kemess porphyry Cu-Au district (the Kemess District) in the Toodoggone region of north-central BC. The JOY claims are located over 20 km north of the former Kemess South Mine. The Companyâs 678 km2 DUKE District is located 80 km northeast of Smithers within the broader Babine Region, one of BCâs most prolific porphyry Cu-Au belts. The 462 km2 IKE District, also 100% owned by Amarc, is located 33 km northwest of the historical mining community of Gold Bridge near the heartland of BCâs producing porphyry Cu mines.
AMARC RESOURCES LTD. 