TRIUMPH GOLD CORP.
(An Exploration Stage Corporation)
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE NINE MONTH PERIOD ENDED SEPTEMBER 30, 2021
(Unaudited - Prepared by Management)
(Expressed in Canadian dollars)
NOTICE OF NO AUDITOR REVIEW OF INTERIM CONSOLIDATED FINANCIAL STATEMENTS
In accordance with 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 an auditor has not reviewed the financial statements. The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management. 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 Professional Accountants for a review of interim financial statements by an entity's auditor.
VANCOUVER, BC
November 29, 2021
TRIUMPH GOLD CORP.
(An Exploration Stage Corporation)
Condensed Consolidated Statements of Financial Position (Unaudited - Prepared by Management)
(Expressed in Canadian dollars)
As at | September 30, 2021 | December 31, 2020 |
(Unaudited) | (Audited) | |
ASSETS | $ | $ |
Current assets |
Cash and cash equivalents
Trade and other receivables
Prepayments and deposits
Non-current assets Right-of-useassets (note 6) Property and equipment (note 3) Investment in equities
Exploration and evaluation assets (note 4)
Total assets
LIABILITIES
Current liabilities
Trade and other payables (note 7)
Lease liabilities (note 6)
Non-current liabilities
Lease liabilities (note 6)
Reclamation provision (note 4)
Total liabilities
SHAREHOLDERS' EQUITY
Share capital (note 5)
Reserve (note 5)
Deficit
Total shareholders' equity and liabilities
Nature and continuance of operations (note 1) Commitments and contingency (note 6)
144,675 | 4,268,216 |
80,591 | 14,828 |
244,653 | 175,501 |
469,919 | 4,458,545 |
127,157 | 199,450 |
39,370 | 19,711 |
1 | 1 |
3,576,690 | 3,289,816 |
3,743,218 | 3,508,978 |
4,213,137 | 7,967,523 |
630,420 | 204,600 |
92,726 | 92,250 |
723,146 | 296,850 |
37,250 | 106,219 |
50,000 | 50,000 |
810,396 | 453,069 |
72,870,002 | 72,645,002 |
8,684,033 | 8,619,380 |
( 78,151,294) | ( 73,749,928) |
3,402,741 | 7,514,454 |
4,213,137 | 7,967,523 |
Approved on behalf of the board: | ||
"John Anderson" | "Gregory Sparks" | |
John Anderson | Gregory Sparks | |
Director | Director |
The accompanying notes are an integral part of these condensed consolidated financial statements.
TRIUMPH GOLD CORP.
(An Exploration Stage Corporation)
Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited - Prepared by Management)
(Expressed in Canadian dollars)
3 months ended | 9 months ended | ||
September 30, | September 30, | September 30, | September 30, |
2021 | 2020 | 2021 | 2020 |
$ | $ | $ | $ |
Expenses
Administrative expenses Corporate communications Depreciation (notes 3 and 6) Exploration expenditures (notes 4 and 7) Interest (note 6)
Listing and filing fees Professional fees (note 7) Property investigation Share-based payments (notes 5 and 7) Wages and salaries (note 7)
Other items
Interest and other income Other income (note 4)
Write-off of trade payable (note 7) Flow-through share premium reversal (note 5)
Total other items
Net and comprehensive loss for the period
Loss per share - basic and diluted
Weighted average number of shares outstanding - basic and diluted
38,994 | 45,491 | 152,960 | 143,932 |
244,082 | 120,970 | 897,778 | 710,207 |
28,473 | 5,659 | 83,427 | 39,333 |
1,860,793 | 843,728 | 2,733,960 | 1,112,060 |
2,738 | 733 | 9,582 | 1,243 |
4,946 | 4,333 | 27,773 | 25,044 |
44,611 | 294,561 | 154,117 | 412,752 |
10,361 | - | 10,361 | - |
2,723 | 1,326,040 | 101,115 | 1,560,442 |
101,878 | 238,334 | 310,960 | 470,059 |
( 2,339,599) | ( 2,879,849) | ( 4,482,033) | ( 4,475,072) |
4,195 | 2,407 | 4,205 | 7,155 |
- | 50,000 | - | 50,000 |
- | - | 40,000 | - |
- | 135,679 | - | 203,874 |
4,195 | 188,086 | 44,205 | 261,029 |
( 2,335,404) | ( 2,691,763) | ( 4,437,828) | ( 4,214,043) |
($0.02) | ($0.02) | ($0.03) | ($0.04) |
138,844,229 | 130,272,533 | 138,574,082 | 113,197,821 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
TRIUMPH GOLD CORP.
(An Exploration Stage Corporation)
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited - Prepared by Management)
(Expressed in Canadian dollars)
Total | ||||||
Number of | Share | Obligation to | Shareholders' | |||
Shares | Capital | issue shares | Reserve | Deficit | Equity | |
$ | $ | $ | $ | $ | ||
Balance, December 31, 2019 | 98,445,253 | 66,077,019 | - | 6,807,217 | ( 68,719,370) | 4,164,866 |
Share issuance (note 5) | 31,598,500 | 6,319,700 | - | - | - | 6,319,700 |
Share issuance costs (note 5) | - | ( 463,250) | 150,024 | - | ( 313,226) | |
Warrants exercised (note 5) | 6,865,476 | 617,893 | - | - | - | 617,893 |
Obligation to issue shares (note 5) | - | - | 137,000 | - | - | 137,000 |
Share-based payments (note 5) | - | - | - | 1,560,442 | - | 1,560,442 |
Loss for the period | - | - | - | - | ( 4,214,043) | ( 4,214,043) |
Balance, September 30, 2020 | 136,909,229 | 72,551,362 | 137,000 | 8,517,683 | ( 72,933,413) | 8,272,632 |
Share issuance (note 5) | 685,000 | 137,000 | ( 137,000) | - | - | - |
Share issuance costs (note 5) | - | ( 43,360) | - | - | - | ( 43,360) |
Share-based payments (note 5) | - | - | - | 101,697 | - | 101,697 |
Loss for the period | - | - | - | - | ( 816,515) | ( 816,515) |
Balance, December 31, 2020 | 137,594,229 | 72,645,002 | - | 8,619,380 | ( 73,749,928) | 7,514,454 |
Share issuance (notes 4, 5) | 1,250,000 | 225,000 | - | - | - | 225,000 |
Warrants expired (note 5) | - | - | - | ( 36,462) | 36,462 | - |
Share-based payments (note 5) | - | - | - | 101,115 | - | 101,115 |
Loss for the period | - | - | - | - | ( 4,437,828) | ( 4,437,828) |
Balance, September 30, 2021 | 138,844,229 | 72,870,002 | - | 8,684,033 | ( 78,151,294) | 3,402,741 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
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Triumph Gold Corp. published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 01:10:02 UTC.