2024 Q3 Form 10-Q Financial Statement
#000143774924026676 Filed on August 14, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
Revenue | $0.00 | |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $114.2K | |
YoY Change | 6.93% | |
% of Gross Profit | ||
Research & Development | $22.15K | |
YoY Change | -84.61% | |
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $90.54K | $136.3K |
YoY Change | -32.81% | -45.62% |
Operating Profit | ||
YoY Change | ||
Interest Expense | $132.1K | |
YoY Change | 9.22% | |
% of Operating Profit | ||
Other Income/Expense, Net | ||
YoY Change | ||
Pretax Income | -$4.260K | |
YoY Change | -96.72% | |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$79.62K | -$4.257K |
YoY Change | -206.54% | -96.72% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | $0.00 | $0.00 |
Diluted Earnings Per Share | $0.00 | |
COMMON SHARES | ||
Basic Shares Outstanding | 355.9M | 355.9M |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $800.5K | |
YoY Change | -41.17% | |
Cash & Equivalents | $718.5K | $800.5K |
Short-Term Investments | ||
Other Short-Term Assets | $20.43K | |
YoY Change | -44.95% | |
Inventory | ||
Prepaid Expenses | $13.45K | $20.43K |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $731.9K | $821.0K |
YoY Change | -36.67% | -41.27% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $704.1K | |
YoY Change | 0.0% | |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $10.71K | |
YoY Change | -1.65% | |
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $715.2K | $714.8K |
YoY Change | 0.08% | -0.03% |
TOTAL ASSETS | ||
Total Short-Term Assets | $731.9K | $821.0K |
Total Long-Term Assets | $715.2K | $714.8K |
Total Assets | $1.447M | $1.536M |
YoY Change | -22.63% | -27.32% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $64.95K | |
YoY Change | -63.37% | |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $263.2K | |
YoY Change | -69.57% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | |
YoY Change | ||
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $0.00 | |
YoY Change | ||
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $263.2K | |
Total Long-Term Liabilities | $0.00 | |
Total Liabilities | $254.2K | $263.2K |
YoY Change | -52.62% | -69.57% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$115.1M | -$115.1M |
YoY Change | 0.32% | 0.19% |
Common Stock | $111.1M | $111.1M |
YoY Change | 0.0% | 0.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.193M | $1.273M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.447M | $1.536M |
YoY Change | -22.63% | -27.32% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$79.62K | -$4.257K |
YoY Change | -206.54% | -96.72% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$107.8K | |
YoY Change | -41.53% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | ||
YoY Change | ||
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | ||
YoY Change | ||
NET CHANGE | ||
Cash From Operating Activities | -107.8K | |
Cash From Investing Activities | ||
Cash From Financing Activities | ||
Net Change In Cash | -107.8K | |
YoY Change | -41.53% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$107.8K | |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Net Income Loss
NetIncomeLoss
|
106244 | usd | |
CY2024Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
59945 | usd |
CY2024Q2 | us-gaap |
Liabilities
Liabilities
|
263172 | usd |
CY2023 | us-gaap |
Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
|
Unlimited | |
CY2024Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
111144603 | usd |
CY2024Q2 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
1033333 | |
CY2024Q2 | us-gaap |
Treasury Stock Common Value
TreasuryStockCommonValue
|
1264194 | usd |
CY2024Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
7306631 | usd |
CY2024Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-853400 | usd |
CY2024Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-115061095 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1272545 | usd |
CY2024Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1535717 | usd |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
355860813 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-155453 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
48633 | usd | |
CY2023Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
111144603 | usd |
CY2023Q4 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
1033333 | |
CY2023Q4 | us-gaap |
Treasury Stock Common Value
TreasuryStockCommonValue
|
1264194 | usd |
CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
7306631 | usd |
CY2023Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-853400 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-114905642 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1427998 | usd |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1777257 | usd |
CY2023Q2 | scy |
Exploration Expense Recovery
ExplorationExpenseRecovery
|
143902 | usd |
CY2024Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
28087 | usd |
CY2024Q2 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
130000 | usd |
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001408146 | ||
ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | ||
ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | ||
ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | ||
ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | usd | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2024Q2 | us-gaap |
Common Stock No Par Value
CommonStockNoParValue
|
0 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0 | ||
CY2024Q2 | scy |
Common Stock Votes Per Share
CommonStockVotesPerShare
|
1 | pure |
us-gaap |
Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
|
Unlimited | ||
CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
355860813 | |
CY2024Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
355860813 | |
CY2024Q2 | scy |
Exploration Expense Recovery
ExplorationExpenseRecovery
|
22152 | usd |
CY2023Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
16536 | usd |
CY2024Q2 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
7834 | usd |
CY2023Q2 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
7850 | usd |
CY2024Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
47040 | usd |
CY2023Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
19217 | usd |
CY2024Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
30811 | usd |
CY2023Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
63166 | usd |
CY2024Q2 | us-gaap |
Travel And Entertainment Expense
TravelAndEntertainmentExpense
|
398 | usd |
CY2023Q2 | us-gaap |
Travel And Entertainment Expense
TravelAndEntertainmentExpense
|
0 | usd |
CY2024Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
136322 | usd |
CY2023Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
250671 | usd |
CY2024Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-5289 | usd |
CY2023Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-9256 | usd |
CY2024Q2 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
7354 | usd |
CY2023Q2 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
10353 | usd |
CY2023Q2 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
119818 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4257 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-129756 | usd |
CY2024Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0 | |
CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0 | |
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
355860813 | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
76932 | usd | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
549624 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
7891 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-41957 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-19783 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
3567 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-939 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-135539 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-221432 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-491896 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-221432 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-491896 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1021956 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1852710 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
800524 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1360814 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1093279 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
26949 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
236000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1356228 | usd |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
21684 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-129756 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1248156 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10906 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
74732 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1333794 | usd |
CY2023Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
227976 | usd |
CY2023Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-133772 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1427998 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-151196 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1276802 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4257 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1272545 | usd |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"> <tbody><tr style="vertical-align: top;"> <td style="width: 36pt;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>1.</b></p> </td> <td style="width: auto;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NATURE AND CONTINUANCE OF OPERATIONS</b></p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">Scandium International Mining Corp. (“The Company”) is a specialty metals and alloys company focusing on scandium and other specialty metals.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The Company was incorporated under the laws of the Province of British Columbia, Canada in 2006. The Company currently trades on the Toronto Stock Exchange under the symbol “SCY”.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The Company’s focus is on the exploration and evaluation of its specialty metals assets, specifically the Nyngan scandium deposit located in New South Wales, Australia. The Company is an exploration stage company and anticipates incurring significant additional expenditures prior to production at any and all of its properties.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">These condensed interim consolidated financial statements have been prepared on a going concern basis that contemplates the realization of assets and discharge of liabilities at their carrying values in the normal course of business for the foreseeable future. These financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The Company currently earns no operating revenues and will require additional capital in order to advance the Nyngan property. The Company’s ability to continue as a going concern is uncertain and is dependent upon the generation of profits from mineral properties, obtaining additional financing and maintaining continued support from its shareholders and creditors. These are material uncertainties that raise substantial doubt about the Company’s ability to continue as a going concern. In the event that additional financial support is not received, or operating profits are not generated, the carrying values of the Company’s assets may be adversely affected.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The political upheavals in various countries have caused significant volatility in commodity prices. While these effects are expected to be temporary, the duration of the business disruptions internationally and related financial impact cannot be reasonably estimated at this time.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 63pt;"><b>Use of estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The preparation of unaudited condensed interim consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, asset impairment, stock-based compensation, derivative liabilities and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 36pt;">The Company considers itself to be an exploration stage company and will consider the transition to development stage after it receives funding to begin mine construction, and board approval.</p> | ||
CY2024Q2 | us-gaap |
Mineral Properties Gross
MineralPropertiesGross
|
704053 | usd |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
34665000 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.14 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
11400000 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.035 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
6050000 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
0.22 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
40015000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.1 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
3290000 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
0.15 | ||
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
36725000 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.091 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
36725000 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.091 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
36725000 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
36725000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
48633 | usd | |
CY2024Q2 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
|
1033333 | |
CY2024Q2 | us-gaap |
Treasury Stock Common Value
TreasuryStockCommonValue
|
1264194 | usd |
CY2024Q2 | us-gaap |
Mineral Rights
MineralRights
|
704053 | usd |
CY2024Q2 | scy |
Property Plant And Equipment Net Including Mineral Rights Total
PropertyPlantAndEquipmentNetIncludingMineralRightsTotal
|
704053 | usd |
CY2023Q4 | us-gaap |
Mineral Rights
MineralRights
|
704053 | usd |
CY2023Q4 | scy |
Property Plant And Equipment Net Including Mineral Rights Total
PropertyPlantAndEquipmentNetIncludingMineralRightsTotal
|
704053 | usd |