2023 SECOND QUARTER REPORT JUNE 30, 2023
(Expressed in Canadian dollars)
Unaudited Condensed Interim Consolidated Financial Statements
- Condensed Interim Consolidated Statements of Financial Position
- Condensed Interim Consolidated Statements of Comprehensive Loss
- Condensed Interim Consolidated Statements of Changes in Equity
- Condensed Interim Consolidated Statements of Cash Flows
- Notes to the Condensed Interim Consolidated Financial Statements
NOTICE OF NO AUDITOR REVIEW OF
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
The accompanying unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2023, of Endurance Gold Corporation ("the Company") have been prepared by the Company's management and have not been reviewed by the Company's independent auditor.
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ENDURANCE GOLD CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian dollars)
(Unaudited, Prepared by Management)
AS AT
June 30, | December 31, | |||
2023 | 2022 | |||
ASSETS | ||||
Current | ||||
Cash and cash equivalents | $ | 1,137,075 | $ | 1,862,445 |
Marketable securities (Note 4) | 933,303 | 1,058,940 | ||
Prepaid expenses and deposits | 318,816 | 25,497 | ||
Receivables | 1,076,606 | 1,729,804 | ||
Total current assets | 3,465,800 | 4,676,686 | ||
Non-current | ||||
Exploration and evaluation assets (Note 5) | 8,533,064 | 7,279,937 | ||
Reclamation bond | 130,000 | 37,000 | ||
Total non-current assets | 8,663,064 | 7,316,937 | ||
Total assets | $ | 12,128,864 | $ | 11,993,623 |
LIABILITIES | ||||
Current | ||||
Accounts payable and accrued liabilities | $ | 672,698 | $ | 171,522 |
Total liabilities | 672,698 | 171,522 | ||
EQUITY | ||||
Share capital (Note 6) | 18,950,971 | 18,950,971 | ||
Reserves (Note 6) | 3,417,466 | 3,407,661 | ||
Deficit | (10,912,271) | (10,536,531) | ||
11,456,166 | 11,822,101 | |||
Total liabilities and equity | $ | 12,128,864 | $ | 11,993,623 |
Nature of operations (Note 1)
Commitments (Note 12)
Events after the reporting date (Note 13)
Approved and authorized on behalf of the Board of Directors on August 28, 2023:
/s/ Robert T. Boyd | /s/ J. Christopher Mitchell |
Director | Director |
Robert T. Boyd | J. Christopher Mitchell |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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ENDURANCE GOLD CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Expressed in Canadian dollars)
(Unaudited, Prepared by Management)
Three months ended June 30, | Six months ended June 30, | |||||||
2023 | 2022 | 2023 | 2022 | |||||
Expenses | ||||||||
Business development and property investigation | $ | 487 | $ | 2,930 | $ | 1,280 | $ | 10,994 |
Corporate communications | 47,410 | 68,449 | 168,933 | 133,955 | ||||
Listing and transfer agent fees | 2,520 | 10,188 | 25,327 | 19,938 | ||||
Management fees | 19,500 | 19,500 | 39,000 | 37,000 | ||||
Office and administrative | 23,435 | 25,375 | 43,802 | 38,118 | ||||
Professional fees | 2,194 | 2,371 | 2,194 | 20,752 | ||||
Stock-based compensation (Note 6) | 2,347 | 640,710 | 9,805 | 640,710 | ||||
Loss before other items | (97,893) | (769,523) | (290,341) | (901,467) | ||||
Other items | ||||||||
Interest income | 17,166 | 8,460 | 40,238 | 11,537 | ||||
Gain on sale of marketable securities (Note 4) | - | - | - | 1,710 | ||||
Unrealized gain (loss) on marketable securities | ||||||||
(Note 4) | (261,567) | (662,246) | (125,637) | (913,767) | ||||
(244,401) | (653,786) | (85,399) | (900,520) | |||||
Comprehensive loss for the period | $ | (342,294) | $ | (1,423,309) | $ | (375,740) | $ | (1,801,987) |
Basic and diluted loss per common share | $ | (0.00) | $ | (0.01) | $ | (0.00) | $ | (0.01) |
Basic and diluted weighted average number of | ||||||||
common shares outstanding | 145,379,342 | 131,726,135 | 145,379,342 | 133,746,294 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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ENDURANCE GOLD CORPORATION
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Expressed in Canadian dollars)
(Unaudited, Prepared by Management)
Share Capital | Total | |||||
No. of Shares | Amount | Reserves | Deficit | Equity | ||
Balance at December 31, 2022 | 145,379,342 | $18,950,971 | $ 3,407,661 | $ | (10,536,531) | $11,822,101 |
Share-based compensation | - | - | 9,805 | - | 9,805 | |
Comprehensive loss for the period | - | - | - | (375,740) | (375,740) | |
Balance at June 30, 2023 | 145,379,342 | $18,950,971 | $ 3,417,466 | $ | (10,912,271) | $11,456,166 |
Share Capital | Total | |||||
No. of Shares | Amount | Reserves | Deficit | Equity | ||
Balance at December 31, 2021 | 127,120,990 | $13,171,719 | $ 2,339,536 | $ | (8,214,377) | $ 7,296,878 |
Shares issued for: | ||||||
Exploration and evaluation assets | 100,000 | 36,500 | - | - | 36,500 | |
Exercise of stock options | 300,000 | 15,000 | - | - | 15,000 | |
Fair value of options exercised | - | 8,760 | (8,760) | - | - | |
Exercise of warrants | 335,000 | 83,750 | - | - | 83,750 | |
Private placement | 7,637,500 | 3,055,000 | - | - | 3,055,000 | |
Share issuance costs | - | (186,965) | 33,132 | - | (153,833) | |
Share-based compensation | - | - | 640,710 | - | 640,710 | |
Comprehensive loss for the period | - | - | - | (1,801,987) | (1,801,987) | |
Balance at June 30, 2022 | 135,493,490 | $16,183,764 | $ 3,004,618 | $ | (10,016,364) | $ 9,172,018 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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Endurance Gold Corporation published this content on 28 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 September 2023 07:31:05 UTC.