IMPACT SILVER CORP. `
IMPACT SILVER CORP.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
June 30, 2023 and 2022
Unaudited
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NOTICE OF NO REVIEW BY AUDITOR
In accordance with National Instrument 51 - 102 Continuous Disclosure Obligations of the Canadian Securities Administrators WE HEREBY GIVE NOTICE THAT the condensed consolidated interim financial statements which follow this notice have not been reviewed by an auditor.
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IMPACT Silver Corp.
Condensed Consolidated Interim Statements of Financial Position
(Canadian dollars) Unaudited
June 30, | December 31, | ||||
ASSETS | 2023 | 2022 | |||
Current | |||||
Cash | $ | 13,737,547 | $ | 15,251,161 | |
Trade and other receivables (Note 4) | 3,793,535 | 1,746,367 | |||
Inventories (Note 5) | 1,800,116 | 1,137,682 | |||
Investments | 110,000 | 240,000 | |||
19,441,198 | 18,375,210 | ||||
Value added taxes | 478,138 | 493,077 | |||
Right-of-use assets (Note 6) | 131,249 | 168,468 | |||
Property, plant and equipment (Note 8) | 32,673,801 | 23,184,736 | |||
Exploration and evaluation assets (Note 9) | 31,371,991 | 26,574,023 | |||
Due on acquisition of Minera Latin American Zinc (Note 3) | 3,473,769 | - | |||
Goodwill (Note 3) | 1,616,892 | - | |||
$ | 89,187,038 | $ | 68,795,514 | ||
LIABILITIES | |||||
Current | |||||
Trade payables and accrued liabilities | $ | 6,043,366 | $ | 1,874,865 | |
Lease liabilities (Note 7) | 85,520 | 80,549 | |||
6,128,886 | 1,955,414 | ||||
Lease liabilities (Note 7) | 22,880 | 67,294 | |||
Reclamation provision | 1,248,424 | 732,067 | |||
Deferred income tax liabilities | 5,122,719 | 4,207,903 | |||
12,522,909 | 6,962,678 | ||||
SHAREHOLDERS' EQUITY | |||||
Share capital | 90,750,305 | 82,241,813 | |||
Warrants (Note 12(c)) | 3,843,042 | 467,913 | |||
Contributed surplus | 11,306,243 | 10,838,330 | |||
Accumulated other comprehensive loss | (277,585) | (3,940,454) | |||
Accumulated deficit | (28,957,876) | (27,774,766) | |||
76,664,129 | 61,832,836 | ||||
$ | 89,187,038 | $ | 68,795,514 | ||
Nature of operations (Note 1) | |||||
ON BEHALF OF THE BOARD: | |||||
"F.W. Davidson" | , Director | ||||
"P. Tredger" | , Director | ||||
-The accompanying notes form an integral part of these consolidated financial statements- |
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IMPACT Silver Corp.
Condensed Consolidated Interim Statements of Income (Loss)
For the Three and Six Months Ended June 30
(Canadian dollars) | ||||||||
Unaudited | ||||||||
Three months ended | Six months ended | |||||||
June 30 | June 30 | |||||||
2023 | 2022 | 2023 | 2022 | |||||
Revenues | $ | 5,491,898 | $ | 3,501,370 | $ | 10,605,852 | $ | 8,129,990 |
Cost of sales | ||||||||
Operating expenses (Note 11) | 4,593,843 | 3,470,509 | 9,072,852 | 7,039,704 | ||||
Amortization and depletion | 454,981 | 375,953 | 829,456 | 686,204 | ||||
5,048,824 | 3,846,462 | 9,902,308 | 7,725,908 | |||||
Mine operating income (loss) | 443,074 | (345,092) | 703,544 | 404,082 | ||||
General and administrative expenses | ||||||||
Accounting, audit and legal | 342,859 | 71,874 | 419,731 | 112,283 | ||||
Amortization | 4,304 | 5,191 | 8,250 | 7,699 | ||||
Investor relations, promotion and travel | 224,687 | 46,420 | 322,627 | 62,443 | ||||
Management fees and consulting | 107,280 | 121,556 | 285,028 | 226,633 | ||||
Office, rent, insurance and sundry | 166,418 | 83,342 | 267,133 | 186,079 | ||||
Office salaries and services | 398,905 | 270,408 | 661,417 | 553,807 | ||||
1,244,453 | 598,791 | 1,964,186 | 1,148,944 | |||||
Operating loss | (801,379) | (943,883) | (1,260,642) | (744,862) | ||||
Other income (expenses) | ||||||||
Finance cost | (22,272) | (17,317) | (43,105) | (34,730) | ||||
Finance income | 154,394 | 44,895 | 294,704 | 63,588 | ||||
Foreign exchange gain (loss) | 177,570 | 81,912 | 287,068 | (8,444) | ||||
Other income (expense) | 24,268 | 1,134 | 19,407 | (2,826) | ||||
Loss on disposal of assets | (5,164) | - | (6,373) | - | ||||
328,796 | 110,624 | 551,701 | 17,588 | |||||
Loss before taxes | (472,583) | (833,259) | (708,941) | (727,274) | ||||
Current income tax expense | 13,921 | 10,042 | 14,104 | 12,082 | ||||
Deferred income tax expense (recovery) | 366,655 | (48,046) | 460,065 | 116,103 | ||||
Net loss | $ | (853,159) | $ | (795,255) | $ | (1,183,110) | $ | (855,459) |
Loss per share | ||||||||
Basic and diluted | $ | (0.00) | $ | (0.00) | $ | (0.01) | $ | (0.00) |
Weighted average number of shares outstanding | ||||||||
Basic and diluted | 192,001,873 | 147,178,037 | 170,215,825 | 146,351,540 |
-The accompanying notes form an integral part of these consolidated financial statements-
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IMPACT Silver Corp.
Condensed Consolidated Interim Statements of Comprehensive Income For the Three and Six Months Ended June 30
(Canadian dollars) Unaudited
Three months ended | Six months ended | |||||||
June 30 | June 30 | |||||||
2023 | 2022 | 2023 | 2022 | |||||
Net loss | $ | (853,159) | $ | (795,255) | $ | (1,183,110) | $ | (855,459) |
Other comprehensive (loss) income | ||||||||
Items that may be subsequently | ||||||||
reclassified to profit or loss | ||||||||
Cumulative translation adjustment | 699,105 | 696,390 | 3,746,236 | 1,085,996 | ||||
Items that will not be subsequently | ||||||||
reclassified to profit or loss | ||||||||
Gain (loss) on investments | 32,613 | (125,000) | (83,367) | (145,000) | ||||
Comprehensive (loss) income | $ | (121,441) | $ | (223,865) | $ | 2,479,759 | $ | 85,537 |
-The accompanying notes form an integral part of these consolidated financial statements-
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Disclaimer
IMPACT Silver Corp. published this content on 19 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 15:31:13 UTC.
