Fury Gold Mines Limited
| |||
Condensed Interim Consolidated Statements of Financial Position
| |||
(Expressed in thousands of Canadian dollars - Unaudited)
| |||
At June 30
|
At December 31
| ||
Note
|
2021
|
2020
| |
Assets
| |||
Current assets:
| |||
Cash
|
$5,452
|
$15,361
| |
Marketable securities
|
4
|
1,933
|
2,675
|
Accounts receivable
|
431
|
827
| |
Prepaid expenses and deposits
|
798
|
785
| |
8,614
|
19,648
| ||
Non-current assets:
| |||
Restricted cash
|
165
|
165
| |
Prepaid expenses and deposits
|
243
|
243
| |
Property and equipment
|
1,410
|
1,222
| |
Mineral property interests
|
5
|
160,382
|
160,772
|
162,200
|
162,402
| ||
Total assets
|
$170,814
|
$182,050
| |
Liabilities and Equity
| |||
Current liabilities:
| |||
Accounts payable and accrued liabilities
|
$2,021
|
$3,280
| |
Lease liability
|
6
|
92
|
55
|
Flow-through share premium liability
|
7
|
5,089
|
7,644
|
Advances received for exploration
|
297
|
316
| |
7,499
|
11,295
| ||
Non-current liabilities:
| |||
Lease liability
|
6
|
411
|
193
|
Provision for site reclamation and closure
|
8
|
3,932
|
4,290
|
Total liabilities
|
$11,842
|
$15,778
| |
Equity:
| |||
Share capital
|
10
|
$294,875
|
$294,710
|
Share option and warrant reserve
|
11
|
13,041
|
11,521
|
Deficit
|
(148,944)
|
(139,959)
| |
Total equity
|
$158,972
|
$166,272
| |
Total liabilities and equity
|
$170,814
|
$182,050
|
'Michael Timmins'
|
'Steve Cook'
| |
President & Chief Executive Officer
|
Director
|
Fury Gold Mines Limited
|
Fury Gold Mines Limited
|
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
|
(Expressed in thousands of Canadian dollars, except per share amounts - Unaudited)
|
Three months ended June 30
|
Six months ended June 30
| ||||
Note
|
2021
|
2020
|
2021
|
2020
| |
Operating expenses:
| |||||
Exploration and evaluation costs
|
9
|
$3,542
|
$366
|
$7,230
|
$745
|
Fees, salaries and other employee benefits
|
11
|
931
|
752
|
2,192
|
1,152
|
Insurance
|
132
|
82
|
265
|
163
| |
Legal and professional fees
|
453
|
70
|
1,370
|
124
| |
Marketing and investor relations
|
193
|
460
|
785
|
858
| |
Office and administration
|
160
|
101
|
360
|
200
| |
Regulatory and compliance costs
|
131
|
46
|
248
|
117
| |
5,542
|
1,877
|
12,450
|
3,359
| ||
Other (income) expenses:
| |||||
Unrealized net (gain) loss on marketable securities
|
4
|
(190)
|
(226)
|
742
|
(66)
|
Amortization of flow-through share premium
|
7
|
(1,332)
|
-
|
(2,555)
|
(7)
|
Finance expense on bridge loan
|
-
|
125
|
-
|
249
| |
Loss on bridge loan
|
15
|
-
|
-
|
-
|
159
|
Accretion
|
8
|
19
|
8
|
32
|
17
|
Interest expense on lease liability
|
6
|
25
|
-
|
51
|
-
|
Interest and other income
|
(9)
|
(19)
|
(29)
|
(51)
| |
Foreign exchange loss
|
5
|
6
|
11
|
-
| |
(1,482)
|
(106)
|
(1,748)
|
301
| ||
Loss from continuing operations, before taxes
|
4,060
|
1,771
|
10,702
|
3,660
| |
Income tax recovery (expense)
|
2
|
-
|
-
|
1,717
|
(57)
|
Loss from continuing operations
|
4,060
|
1,771
|
8,985
|
3,603
| |
Loss from discontinued operations
|
3
|
-
|
963
|
-
|
1,846
|
Loss for the period
|
$4,060
|
$2,734
|
$8,985
|
$5,449
|
Other comprehensive loss (income), net of tax
| |||||
Items that may be reclassified subsequently to profit or loss:
| |||||
Unrealized currency loss (gain) on translation offoreign operations |
-
|
181
|
-
|
(204)
| |
Other comprehensive loss (income) for the period
|
-
|
181
|
-
|
(204)
| |
Total comprehensive loss for the period |
$4,060
|
$2,915
|
$8,985
|
$5,245
| |
Loss per share from continuing operations:
| |||||
Basic and diluted loss per share
|
14
|
$0.03
|
$0.03
|
$0.08
|
$0.05
|
Loss per share:
| |||||
Basic and diluted loss per share
|
14
|
$0.03
|
$0.04
|
$0.08
|
$0.08
|
Fury Gold Mines Limited
|
Fury Gold Mines Limited
| ||||||
Condensed Interim Consolidated Statements of Equity
| ||||||
(Expressed in thousands of Canadian dollars, except share amounts - Unaudited)
| ||||||
Number of common shares(1)
|
Share capital
|
Share option and warrant reserve
|
Accumulated other comprehensive income
|
Deficit
|
Total
| |
Balance at December 31, 2019
|
64,340,963
|
$129,413
|
$9,992
|
$22
|
$(102,604)
|
$36,823
|
Comprehensive loss for the period
|
-
|
-
|
-
|
204
|
(5,449)
|
(5,245)
|
Shares issued pursuant to offering, net of share
issue costs
|
6,333,984
|
14,761
|
-
|
-
|
-
|
14,761
|
Share options exercised
|
84,453
|
267
|
(94)
|
-
|
-
|
173
|
Fair value of conversion feature, net of tax
|
-
|
-
|
154
|
-
|
-
|
154
|
Share-based compensation
|
-
|
-
|
537
|
-
|
-
|
537
|
Balance at June 30, 2020
|
70,759,400
|
$144,441
|
$10,589
|
$226
|
$(108,053)
|
$47,203
|
Balance at December 31, 2020
|
117,823,857
|
$294,710
|
$11,521
|
$-
|
$(139,959)
|
$166,272
|
Comprehensive loss for the period
|
-
|
-
|
-
|
-
|
(8,985)
|
(8,985)
|
Share options exercised (note 10,11)
|
5,834
|
6
|
(1)
|
-
|
-
|
5
|
Warrants exercised (note 10,11)
|
101,042
|
159
|
(12)
|
-
|
-
|
147
|
Share-based compensation (note 11)
|
-
|
-
|
1,533
|
-
|
-
|
1,533
|
Balance at June 30, 2021
|
117,930,733
|
$294,875
|
$13,041
|
$-
|
$(148,944)
|
$158,972
|
Fury Gold Mines Limited
|
Fury Gold Mines Limited | |||||
Condensed Interim Consolidated Statements of Cash Flows
| |||||
(Expressed in thousands of Canadian dollars - Unaudited)
| |||||
Three months ended
June 30
|
Six months ended
June 30
| ||||
Note
|
2021
|
2020
|
2021
|
2020
| |
Operating activities:
| |||||
Loss for the period from continuing operations
|
$(4,060)
|
$(1,771)
|
$(8,985)
|
$(3,603)
| |
Adjusted for:
| |||||
Interest and other income
|
(9)
|
(19)
|
(29)
|
(51)
| |
Items not involving cash:
| |||||
Unrealized net (gain) loss on marketable securities
|
4
|
(190)
|
(226)
|
742
|
(66)
|
Depreciation
|
97
|
61
|
187
|
123
| |
Amortization of flow-through share premium
|
7
|
(1,332)
|
-
|
(2,555)
|
(7)
|
Share-based compensation
|
11
|
620
|
158
|
1,533
|
377
|
Finance expense on bridge loan
|
15
|
-
|
125
|
-
|
249
|
Loss on bridge loan
|
15
|
-
|
-
|
-
|
159
|
Other
|
25
|
(2)
|
64
|
(47)
| |
Changes in non-cash working capital
|
13
|
(1)
|
687
|
333
|
158
|
Cash used in operating activities, continuing operations
|
(4,850)
|
(987)
|
(8,710)
|
(2,708)
| |
Cash used in operating activities, discontinued operations
|
-
|
(898)
|
-
|
(1,673)
| |
Investing activities:
| |||||
Interest received
|
9
|
19
|
29
|
51
| |
Acquisition of Eastmain, net of cash acquired
|
-
|
-
|
(1,209)
|
-
| |
Mineral property acquisitions costs
|
-
|
(4)
|
-
|
(4)
| |
Plant and equipment additions
|
(13)
|
-
|
(82)
|
-
| |
Cash (used in) provided by investing activities,
continuing operations
|
(4)
|
15
|
(1,262)
|
47
| |
Cash provided by investing activities, discontinued operations
|
-
|
3
|
-
|
2
| |
Financing activities:
| |||||
Lease payments
|
6
|
(45)
|
-
|
(89)
|
-
|
Proceeds from issuance of common shares,
| |||||
net of cash share issuance costs
|
10
|
-
|
(99)
|
-
|
14,804
|
Transaction costs on loan amendment
|
-
|
-
|
-
|
(5)
| |
Proceeds from share option and warrant exercises
|
10
|
136
|
66
|
152
|
173
|
Cash provided by (used in) financing activities, continuing operations
|
91
|
(33)
|
63
|
14,972
| |
Effect of foreign exchange rate changes on cash
|
-
|
(6)
|
-
|
2
| |
(Decrease) increase in cash
|
(4,763)
|
(1,906)
|
(9,909)
|
10,642
| |
Cash, beginning of the period
|
10,215
|
13,208
|
15,361
|
660
| |
Cash, end of the period
|
$5,452
|
$11,302
|
$5,452
|
$11,302
|
Fury Gold Mines Limited
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Subsidiary
|
Place of incorporation
|
Functional currency
|
Beneficial interest
|
North Country Gold Corp. ('North Country')
|
BC, Canada
|
CAD
|
100%
|
Homestake Resource Corporation ('Homestake')
|
BC, Canada
|
CAD
|
100%
|
Eastmain Resources Inc. ('Eastmain')
|
ON, Canada
|
CAD
|
100%
|
Eastmain Mines Inc. ('Eastmain Mines')(1)
|
Canada
|
CAD
|
100%
|
Homestake Royalty Corporation (inactive)
|
BC, Canada
|
CAD
|
100%
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Three months ended
June 30, 2020
|
Six months ended
June 30, 2020
| |
Operating expenses:
| ||
Exploration and evaluation costs (note 9)
|
$686
|
$1,398
|
Fees, salaries and other employee benefits
|
97
|
151
|
Legal and professional fees
|
41
|
63
|
Office and administration
|
14
|
66
|
838
|
1,678
| |
Other expenses:
| ||
Project investigation costs
|
120
|
156
|
Foreign exchange loss
|
5
|
12
|
125
|
168
| |
Loss from discontinued operations
|
$963
|
$1,846
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Total
| |
Balance at December 31, 2019
|
$346
|
Additions(1)
|
1,764
|
Unrealized net gain(1)
|
565
|
Balance at December 31, 2020
|
$2,675
|
Unrealized net loss
|
(742)
|
Balance at June 30, 2021
|
$1,933
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Québec
|
Nunavut
|
British Columbia
|
Peru(1)
|
Total
| |
Balance at December 31, 2019
|
$-
|
$19,085
|
$16,060
|
$4,569
|
$39,714
|
Additions
|
-
|
-
|
-
|
4,246
|
4,246
|
Eastmain acquisition, mineral property interests acquired
|
125,606
|
-
|
-
|
-
|
125,606
|
Option payment received(2)
|
(252)
|
-
|
-
|
-
|
(252)
|
Dispositions (note 3)
|
-
|
-
|
-
|
(8,949)
|
(8,949)
|
Change in estimate of provision for site reclamation and closure (note 8)
|
-
|
273
|
-
|
-
|
273
|
Currency translation adjustment
|
-
|
-
|
-
|
134
|
134
|
Balance at December 31, 2020
|
$125,354
|
$19,358
|
$16,060
|
$-
|
$160,772
|
Change in estimate of provision for site reclamation and closure (note 8)
|
(180)
|
(210)
|
-
|
-
|
(390)
|
Balance at June 30, 2021
|
$125,174
|
$19,148
|
$16,060
|
$-
|
$160,382
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
ROU Assets
|
Lease Liabilities
| |
Balance at December 31, 2020
|
$219
|
$248
|
Additions
|
293
|
293
|
Depreciation
|
(66)
|
-
|
Interest expense
|
-
|
51
|
Lease payments
|
-
|
(89)
|
Balance at June 30, 2021
|
$446
|
$503
|
ROU Asset
|
Lease Liability
| |
Balance at December 31, 2019
|
$-
|
$-
|
Additions
|
236
|
259
|
Depreciation
|
(17)
|
-
|
Interest expense
|
-
|
14
|
Lease payments
|
-
|
(25)
|
Balance at December 31, 2020
|
$219
|
$248
|
June 30
2021
|
December 31 2020
| |
Lease liabilities classified as:
| ||
Current
|
$92
|
$55
|
Non-current
|
411
|
193
|
$503
|
$248
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Flow-through funding and expenditures
|
Flow-through
premium liability
| ||||
Québec
|
Nunavut
|
British Columbia
|
Total
| ||
Balance at December 31, 2019
|
$-
|
$24
|
$-
|
$24
|
$7
|
Flow-through liability assumed
|
2,391
|
-
|
-
|
2,391
|
590
|
Flow-through funds raised
|
17,500
|
-
|
-
|
17,500
|
7,500
|
Flow-through eligible expenditures
|
(1,812)
|
(24)
|
-
|
(1,836)
|
(453)
|
Balance at December 31, 2020
|
$18,079
|
$-
|
$-
|
$18,079
|
$7,644
|
Flow-through eligible expenditures
|
(6,203)
|
-
|
-
|
(6,203)
|
(2,555)
|
Balance at June 30, 2021
|
$11,876
|
$-
|
$-
|
$11,876
|
$5,089
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Québec
|
Nunavut
|
Total
| |
Balance at December 31, 2019
|
$-
|
$2,134
|
$2,134
|
Provision, assumed on acquisition of Eastmain (note 3)
|
1,849
|
-
|
1,849
|
Accretion
|
5
|
29
|
34
|
Change in estimate
|
-
|
273
|
273
|
Balance at December 31, 2020
|
$1,854
|
$2,436
|
$4,290
|
Accretion
|
14
|
18
|
32
|
Change in estimate
|
(180)
|
(210)
|
(390)
|
Balance at June 30, 2021
|
$1,688
|
$2,244
|
$3,932
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Québec
|
Nunavut
|
British Columbia
|
Total
|
Peru(1)
| |
Assaying
|
$719
|
$10
|
$2
|
$732
|
$-
|
Exploration drilling
|
1,091
|
30
|
-
|
1,121
|
-
|
Camp cost, equipment and
field supplies
|
382
|
63
|
5
|
450
|
-
|
Geological consulting services
|
83
|
-
|
1
|
84
|
-
|
Permitting, environmental and community costs
|
27
|
47
|
15
|
89
|
-
|
Expediting and mobilization
|
44
|
41
|
-
|
85
|
-
|
Salaries and wages
|
598
|
35
|
13
|
646
|
-
|
Fuel and consumables
|
136
|
-
|
-
|
136
|
-
|
Aircraft and travel
|
55
|
2
|
-
|
57
|
-
|
Share-based compensation
|
114
|
22
|
6
|
142
|
-
|
Three months ended
June 30, 2021
|
$3,250
|
$250
|
$42
|
$3,542
|
$-
|
Québec
|
Nunavut
|
British Columbia
|
Total
|
Peru(1)
| |
Assaying
|
$-
|
$10
|
$14
|
$24
|
$6
|
Exploration drilling
|
-
|
14
|
-
|
14
|
-
|
Camp cost, equipment and
field supplies
|
-
|
61
|
8
|
69
|
34
|
Geological consulting services
|
-
|
2
|
69
|
71
|
26
|
Permitting, environmental and community costs
|
-
|
20
|
-
|
20
|
377
|
Salaries and wages
|
-
|
106
|
40
|
146
|
180
|
Aircraft and travel
|
-
|
-
|
-
|
-
|
14
|
Share-based compensation
|
-
|
17
|
5
|
22
|
49
|
Three months ended
June 30, 2020
|
$-
|
$230
|
$136
|
$366
|
$686
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Québec
|
Nunavut
|
British Columbia
|
Total
|
Peru(1)
| |
Assaying
|
$1,098
|
$40
|
$16
|
$1,154
|
$-
|
Exploration drilling
|
2,363
|
30
|
-
|
2,393
|
-
|
Camp cost, equipment and
field supplies
|
757
|
122
|
8
|
887
|
-
|
Geological consulting services
|
259
|
34
|
3
|
296
|
-
|
Geophysical analysis
|
149
|
-
|
-
|
149
|
-
|
Permitting, environmental and community costs
|
122
|
81
|
28
|
231
|
-
|
Expediting and mobilization
|
51
|
41
|
-
|
92
|
-
|
Salaries and wages
|
1,102
|
80
|
33
|
1,215
|
-
|
Fuel and consumables
|
310
|
35
|
-
|
345
|
-
|
Aircraft and travel
|
116
|
2
|
1
|
119
|
-
|
Share-based compensation
|
274
|
56
|
19
|
349
|
-
|
Six months ended
June 30, 2021
|
$6,601
|
$521
|
$108
|
$7,230
|
$-
|
Québec
|
Nunavut
|
British Columbia
|
Total
|
Peru(1)
| |
Assaying
|
$-
|
$20
|
$16
|
$36
|
$10
|
Exploration drilling
|
-
|
26
|
-
|
26
|
-
|
Camp cost, equipment and
field supplies
|
-
|
123
|
16
|
139
|
92
|
Geological consulting services
|
-
|
2
|
173
|
175
|
93
|
Permitting, environmental and community costs
|
-
|
25
|
7
|
32
|
627
|
Expediting and mobilization
|
-
|
5
|
-
|
5
|
5
|
Salaries and wages
|
-
|
195
|
81
|
276
|
376
|
Fuel and consumables
|
-
|
-
|
-
|
-
|
2
|
Aircraft and travel
|
-
|
-
|
2
|
2
|
49
|
Share-based compensation
|
-
|
38
|
16
|
54
|
144
|
Six months ended
June 30, 2020
|
$-
|
$434
|
$311
|
$745
|
$1,398
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Number of common shares
|
Impact on
share capital
| |
Common shares issued at $2.37 per share
|
6,333,984
|
$15,000
|
Cash share issue costs
|
-
|
(239)
|
Proceeds, net of share issue costs
|
6,333,984
|
$14,761
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Recognized in net loss from continuing operations and included in:
| ||||
Exploration and evaluation costs
|
$142
|
$22
|
$349
|
$54
|
Fees, salaries and other employee benefits
|
478
|
136
|
1,184
|
323
|
$620
|
$158
|
$1,533
|
$377
| |
Recognized in net loss from discontinued operations
|
-
|
59
|
-
|
160
|
Total share-based compensation expense
|
$620
|
$217
|
$1,533
|
$537
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Risk-free interest rate
|
1.01%
|
0.39%
|
1.01%
|
0.39%
|
Expected dividend yield
|
Nil
|
Nil
|
Nil
|
Nil
|
Share price volatility
|
68%
|
58%
|
68%
|
58%
|
Expected forfeiture rate
|
0%
|
0%
|
0%
|
0%
|
Expected life in years
|
4.90
|
4.90
|
4.90
|
4.90
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Number of
share options
|
Weighted
average
exercise price
($/option)(1)
| |
Outstanding, December 31, 2019
|
5,602,619
|
$2.96
|
Granted(2)
|
5,857,459
|
2.42
|
Exercised
|
(3,228,182)
|
2.42
|
Expired
|
(20,272)
|
2.90
|
Forfeited
|
(70,620)
|
2.61
|
Outstanding, December 31, 2020
|
8,141,004
|
$2.67
|
Granted
|
130,000
|
1.53
|
Exercised
|
(5,834)
|
0.86
|
Expired
|
(1,657,339)
|
3.63
|
Forfeited
|
(23,125)
|
1.94
|
Outstanding, June 30, 2021
|
6,584,706
|
$2.20
|
Options outstanding
|
Options exercisable
| |||||
Exercise
price ($/option)
|
Number of shares
|
Weighted average exercise price ($/option)
|
Weighted average remaining life (years)
|
Number of shares
|
Weighted average exercise price ($/option)
|
Weighted average remaining life (years)
|
$0.56 - $1.95
|
1,693,780
|
1.53
|
3.21
|
1,513,614
|
1.51
|
3.05
|
$2.05 - $5.31
|
4,759,658
|
2.29
|
3.85
|
2,794,659
|
2.46
|
3.53
|
$7.54 - $9.86
|
131,268
|
7.88
|
0.92
|
131,268
|
7.88
|
0.92
|
6,584,706
|
2.20
|
3.63
|
4,439,541
|
2.29
|
3.29
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Warrants
outstanding
|
Exercise
price
($/share)
| |
Outstanding, December 31, 2019
|
337,813
|
$2.96
|
Issued(1)
|
1,297,591
|
1.33
|
Exercised
|
(8,664)
|
1.46
|
Outstanding, December 31, 2020
|
1,626,740
|
$1.66
|
Exercised
|
(101,042)
|
1.46
|
Expired
|
(440,702)
|
1.46
|
Outstanding, June 30, 2021
|
1,084,996
|
$1.77
|
Expiry date
|
Warrants
outstanding
|
Exercise price ($/share)
|
October 24, 2021
|
334,993
|
1.37
|
March 6, 2022
|
189,613
|
1.11
|
March 9, 2022
|
222,577
|
1.11
|
September 12, 2022
|
337,813
|
2.96
|
Total
|
1,084,996
|
1.77
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Universal Mineral Services Ltd.(1)
| ||||
Exploration and evaluation costs:
| ||||
Québec
|
$59
|
$-
|
$97
|
$-
|
Nunavut
|
14
|
57
|
19
|
117
|
British Columbia
|
9
|
27
|
16
|
64
|
Peru
|
-
|
41
|
-
|
92
|
Fees, salaries and other employee benefits
|
26
|
78
|
36
|
133
|
Legal and professional fees
|
1
|
4
|
3
|
11
|
Marketing and investor relations
|
(15)
|
24
|
8
|
61
|
Office and administration
|
52
|
100
|
98
|
187
|
Project investigation costs
|
-
|
31
|
-
|
35
|
Total transactions for the period
|
$146
|
$362
|
$277
|
$700
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Short-term benefits provided to executives(1)(2)
|
$231
|
$957
|
$548
|
$1,323
|
Directors' fees paid to non-executive directors
|
55
|
37
|
107
|
73
|
Share-based payments(2)
|
391
|
161
|
1,054
|
380
|
Total(3)
|
$677
|
$1,155
|
$1,709
|
$1,776
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Accounts receivable
|
$141
|
$(185)
|
$396
|
$(201)
|
Prepaid expenses and deposits
|
191
|
176
|
(13)
|
18
|
Accounts payable and accrued liabilities
|
(333)
|
696
|
(50)
|
341
|
Change in non-cash working capital
|
$(1)
|
$687
|
$333
|
$158
|
Operating activities include the following cash received:
| ||||
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Income taxes refunded (note 2)
|
$-
|
$-
|
$1,717
|
$-
|
Three months ended
June 30
|
Six months ended
June 30
| |||
2021
|
2020
|
2021
|
2020
| |
Loss for the period from continuing operations
|
$4,060
|
$1,771
|
$8,985
|
$3,603
|
Loss for the period
|
4,060
|
2,734
|
8,985
|
5,449
|
Weighted average number of shares outstanding
|
117,893,013
|
70,730,074
|
117,861,667
|
69,196,693
|
Basic and diluted loss per share from continuing operations
|
$0.03
|
$0.03
|
$0.08
|
$0.05
|
Basic and diluted loss per share
|
$0.03
|
$0.04
|
$0.08
|
$0.08
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
At June 30, 2021
|
At December 31, 2020
| |||||
Amortized Cost
|
FVTPL
|
Total
|
Amortized Cost
|
FVTPL
|
Total
| |
Cash
|
$5,452
|
$-
|
$5,452
|
$15,361
|
$-
|
$15,361
|
Marketable securities
|
-
|
1,933
|
1,933
|
-
|
2,675
|
2,675
|
Accounts receivable
|
18
|
-
|
18
|
-
|
-
|
-
|
Deposits
|
543
|
-
|
543
|
243
|
-
|
243
|
Total financial assets
|
6,013
|
1,933
|
7,946
|
15,604
|
2,675
|
18,279
|
Accounts payable and accrued liabilities
|
2,021
|
-
|
2,021
|
3,280
|
-
|
3,280
|
Total financial liabilities
|
$2,021
|
$-
|
$2,021
|
$3,280
|
$-
|
$3,280
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
At June 30, 2021
|
At December 31, 2020
| |||
Level 1
|
Level 2(1)
|
Level 1
|
Level 2(1)
| |
Cash
|
$5,452
|
$-
|
$15,361
|
$-
|
Marketable securities
|
1,546
|
387
|
2,165
|
510
|
Within
1 year
|
2 to 3
years
|
Over 3
Years
|
At June 30
2021
|
At December 31
2020
| |
Accounts payable and accrued liabilities
|
$2,021
|
$-
|
$-
|
$2,021
|
$3,280
|
Québec flow-through expenditure requirements
|
-
|
11,876
|
-
|
11,876
|
18,079
|
Undiscounted lease payments
|
181
|
372
|
159
|
712
|
762
|
Total
|
$2,202
|
$12,248
|
$159
|
$14,609
|
$22,121
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
At June 30
2021
|
At December 31
2020
| |
Financial assets
| ||
US$ bank accounts
|
$32
|
$70
|
Accounts receivable
|
18
|
-
|
Financial liabilities
| ||
Accounts payable
|
(43)
|
(42)
|
$7
|
$(28)
|
Fury Gold Mines Limited
Notes to Q2 2021 Condensed Interim Consolidated Financial Statements
(Expressed in thousands of Canadian dollars, except where noted - Unaudited)
|
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Disclaimer
Fury Gold Mines Ltd. published this content on 16 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2021 10:41:13 UTC.