CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED NOVEMBER 30, 2021
(UNAUDITED)
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 Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.
The accompanying unaudited condensed consolidated interim financial statements of Ophir Gold Corp. for the six months ended November 30, 2021 have been prepared by the management of the Company and approved by the Company's Audit Committee and the Company's Board of Directors.
The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
Table of Contents | ||
Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (unaudited) ................. | 6 | |
Condensed Consolidated Interim Statements of Cash Flows (unaudited) ................................................. | 7 | |
Notes to the Condensed Consolidated Interim Financial Statements (unaudited)..................................... | 8 | |
1. | Nature of business and going concern........................................................................................................ | 8 |
2. | Significant accounting standards and basis of preparation........................................................................ | 9 |
3. | Marketable securities ............................................................................................................................... | 10 |
4. | Reclamation deposit ................................................................................................................................. | 10 |
5. | Exploration and evaluation assets ............................................................................................................ | 10 |
6. | Share capital.............................................................................................................................................. | 14 |
7. | Related party transactions and balances.................................................................................................. | 17 |
8. | Commitment ............................................................................................................................................. | 18 |
9. | Segmented information............................................................................................................................ | 18 |
10. | Capital management................................................................................................................................. | 19 |
11. | Financial instruments................................................................................................................................ | 19 |
Ophir Gold Corp.
Condensed Consolidated Interim Statements of Financial Position (unaudited) (Expressed in Canadian Dollars)
As at | November 30, | May 31, | |
2021 | 2021 | ||
Note(s) | $ | $ | |
ASSETS | |||
Current assets | |||
Cash | 943,054 | 2,153,560 | |
Marketable securities | 3 | 72,000 | 60,000 |
Amounts receivable | 10,721 | 8,449 | |
Prepaid expenses | 99,784 | 225,514 | |
1,125,559 | 2,447,523 | ||
Non-current assets | |||
Reclamation deposits | 4 | 69,633 | 65,784 |
Exploration and evaluation assets | 5 | 3,537,318 | 1,158,301 |
3,606,951 | 1,224,085 | ||
TOTAL ASSETS | 4,732,510 | 3,671,608 | |
LIABILITIES | |||
Current liabilities | |||
Accounts payable and accrued liabilities | 7 | 116,480 | 133,121 |
TOTAL LIABILITIES | 116,480 | 133,121 | |
SHAREHOLDERS' EQUITY | |||
Share capital | 6 | 7,456,511 | 6,397,438 |
Shares subscribed | 6 | - | 50,000 |
Contributed surplus | 6 | 4,377,145 | 3,994,307 |
Deficit | (7,217,626) | (6,903,258) | |
TOTAL SHAREHOLDERS' EQUITY | 4,616,030 | 3,538,487 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 4,732,510 | 3,671,608 | |
Nature of business and going concern | 1 | ||
Commitment | 8 | ||
Segmented information | 9 | ||
Subsequent events | 6 |
These unaudited condensed consolidated interim financial statements were approved for issue by the Board of Directors and signed on its behalf by:
/s/ Jon BeyDirector | /s/ Shawn WestcottDirector |
See accompanying notes to these unaudited condensed consolidated interim financial statements.
Ophir Gold Corp.
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (unaudited) (Expressed in Canadian Dollars)
For the three months ended | |||||||||
November 30, | November 30, | ||||||||
2021 | 2020 | ||||||||
Note(s) | $ | $ | |||||||
Expenses | |||||||||
Consulting fees | 7 | 35,887 | 71,341 | ||||||
Foreign exchange gain | (2,596) | - | |||||||
General & administrative | 9,726 | 31,327 | |||||||
Investor relations and promotion | 7,966 | 8,540 | |||||||
Professional fees | 7 | 82,556 | 23,111 | ||||||
Regulatory & transfer agents | 10,105 | 14,845 | |||||||
Share-based payments | 6 | - | - | ||||||
Travel | 377 | - | |||||||
(144,021) | (149,164) | ||||||||
Other income | |||||||||
Fair value gain on marketable | 3 | 6,000 | 15,000 | ||||||
securities | |||||||||
Loss and comprehensive loss | (138,021) | (134,164) | |||||||
Basic and diluted loss per share for | (0.00) | (0.00) | |||||||
the period ($ per common share) | |||||||||
Weighted average number of | |||||||||
common shares outstanding | 57,017,777 | 28,430,147 | |||||||
- basic and diluted |
For the six months ended
November 30, | November 30, | |||
2021 | 2020 | |||
$ | $ | |||
70,876 | 98,341 | |||
(75,541) | - | |||
19,771 | 31,948 | |||
17,727 | 9,650 | |||
115,259 | 29,683 | |||
18,211 | 15,881 | |||
158,229 | - | |||
1,836 | - | |||
(326,368) | (185,503) | |||
12,000 | 35,000 | |||
(314,368) | (150,503) | |||
(0.01) | (0.01) | |||
54,068,315 | 23,000,363 |
See accompanying notes to these unaudited condensed consolidated interim financial statements.
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Ophir Gold Corp. published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 19:31:07 UTC.