Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| OPERATING ACTIVITIES |
|
|
| Net income for the year |
$ 6,025
|
$ (7,097)
|
| Items not involving cash: |
|
|
| Amortization |
146
|
121
|
| Deferred income tax (benefit) expense |
(1,567)
|
1,026
|
| Income from equity accounted Investment in Juanicipio |
(15,686)
|
(2,214)
|
| Share-based payment expense |
4,256
|
3,122
|
| Unrealized foreign exchange gain |
(260)
|
(738)
|
| Accounts receivable |
116
|
(201)
|
| Prepaid expenses |
(17)
|
(241)
|
| Trade and other payables |
265
|
8
|
| Net cash provided from (used in) operating activities |
(6,722)
|
(6,214)
|
| INVESTING ACTIVITIES |
|
|
| Exploration and evaluation expenditures |
(7,169)
|
(4,873)
|
| Investment in Juanicipio |
(74,136)
|
(64,270)
|
| Proceeds from disposition of equity securities |
6,371
|
3,905
|
| Purchase of equipment |
(5)
|
(74)
|
| Net cash used in investing activities |
(74,939)
|
(65,312)
|
| FINANCING ACTIVITIES |
|
|
| Issuance of common shares upon exercise of stock options |
985
|
3,337
|
| Issuance of common shares, net of share issue costs |
43,242
|
89,164
|
| Payment of lease obligation (principal) |
(91)
|
(72)
|
| Net cash provided from financing activities |
44,136
|
92,429
|
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH |
265
|
745
|
| (Decrease) increase in cash and equivalents |
(37,260)
|
21,648
|
| Cash and cash equivalents, beginning of year |
94,008
|
72,360
|
| Cash and cash equivalents, end of year |
$ 56,748
|
$ 94,008
|