2017 Q1 Form 10-Q Financial Statement
#000127956918000936 Filed on May 04, 2018
Income Statement
| Concept | 2017 Q1 |
|---|---|
| Revenue | $0.00 |
| YoY Change | |
| Cost Of Revenue | |
| YoY Change | |
| Gross Profit | |
| YoY Change | |
| Gross Profit Margin | |
| Selling, General & Admin | $810.0K |
| YoY Change | -6.9% |
| % of Gross Profit | |
| Research & Development | $710.0K |
| YoY Change | -11.25% |
| % of Gross Profit | |
| Depreciation & Amortization | $999.00 |
| YoY Change | -24.03% |
| % of Gross Profit | |
| Operating Expenses | $1.523M |
| YoY Change | -8.84% |
| Operating Profit | |
| YoY Change | |
| Interest Expense | -$160.0K |
| YoY Change | -80.49% |
| % of Operating Profit | |
| Other Income/Expense, Net | -$155.3K |
| YoY Change | -81.0% |
| Pretax Income | -$1.680M |
| YoY Change | -32.53% |
| Income Tax | |
| % Of Pretax Income | |
| Net Earnings | -$1.678M |
| YoY Change | -32.54% |
| Net Earnings / Revenue | |
| Basic Earnings Per Share | |
| Diluted Earnings Per Share | -$10.36K |
| COMMON SHARES | |
| Basic Shares Outstanding | 162.2M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2017 Q1 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $6.600M |
| YoY Change | 29.41% |
| Cash & Equivalents | $6.631M |
| Short-Term Investments | |
| Other Short-Term Assets | $200.0K |
| YoY Change | 0.0% |
| Inventory | |
| Prepaid Expenses | |
| Receivables | |
| Other Receivables | |
| Total Short-Term Assets | $6.795M |
| YoY Change | 28.21% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $55.20M |
| YoY Change | 0.0% |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | |
| YoY Change | |
| Total Long-Term Assets | $55.23M |
| YoY Change | 0.05% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $6.795M |
| Total Long-Term Assets | $55.23M |
| Total Assets | $62.02M |
| YoY Change | 2.51% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $415.8K |
| YoY Change | 107.92% |
| Accrued Expenses | $332.7K |
| YoY Change | 10.9% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $0.00 |
| YoY Change | |
| Long-Term Debt Due | |
| YoY Change | |
| Total Short-Term Liabilities | $700.0K |
| YoY Change | -95.36% |
| 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 | $700.0K |
| Total Long-Term Liabilities | $0.00 |
| Total Liabilities | $700.0K |
| YoY Change | -95.37% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | |
| YoY Change | |
| Common Stock | |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $61.30M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $62.02M |
| YoY Change | 2.52% |
Cashflow Statement
| Concept | 2017 Q1 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | -$1.678M |
| YoY Change | -32.54% |
| Depreciation, Depletion And Amortization | $999.00 |
| YoY Change | -24.03% |
| Cash From Operating Activities | -$1.378M |
| YoY Change | -19.4% |
| 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 | $0.00 |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -$14.74M |
| YoY Change | |
| NET CHANGE | |
| Cash From Operating Activities | -$1.378M |
| Cash From Investing Activities | |
| Cash From Financing Activities | -$14.74M |
| Net Change In Cash | -$16.12M |
| YoY Change | 842.54% |
| FREE CASH FLOW | |
| Cash From Operating Activities | -$1.378M |
| Capital Expenditures | |
| Free Cash Flow | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2018Q1 | us-gaap |
Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
|
0 | USD |
| CY2017Q4 | us-gaap |
Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
|
63593 | USD |
| CY2018Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
25212 | USD |
| CY2018Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
10929767 | USD |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-190470 | USD |
| CY2018Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
12000000 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2018Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
37022 | USD |
| CY2017Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
45000 | USD |
| CY2018Q1 | us-gaap |
Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
|
0 | USD |
| CY2018Q1 | thm |
Obligation To Issue Shares
ObligationToIssueShares
|
-63593 | USD |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
12063593 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
115431 | USD |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-15835778 | USD |
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
22466493 | USD |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6630715 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-50963 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
350172 | USD |
| CY2017Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
281706 | USD |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
3689 | USD |
| CY2017Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
0 | USD |
| CY2018Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-27447 | USD |
| CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1065220 | USD |
| CY2018Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
-3085 | USD |
| CY2018Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
|
24862 | USD |
| CY2018Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.01 | |
| CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
13785 | USD |
| us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
7646 | USD | |
| CY2018Q1 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
83478 | USD |
| thm |
Adjustments To Additional Paid In Capital Sharebased Compensation Deferred Share Unit Plan
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationDeferredShareUnitPlan
|
381558 | USD | |
| CY2017Q1 | us-gaap |
Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
|
14694169 | USD |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1058423 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1378315 | USD |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11962978 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-14739169 | USD |
| CY2017Q4 | thm |
Capitalized Costs Mineral Properties
CapitalizedCostsMineralProperties
|
55204041 | USD |
| CY2018Q1 | thm |
Capitalized Costs Mineral Properties
CapitalizedCostsMineralProperties
|
55204041 | USD |
| CY2018Q1 | thm |
Mining Activities Field Costs
MiningActivitiesFieldCosts
|
47400 | USD |
| CY2017Q1 | thm |
Mining Activities Field Costs
MiningActivitiesFieldCosts
|
47026 | USD |
| CY2018Q1 | thm |
Geological And Geophysical Costs
GeologicalAndGeophysicalCosts
|
48644 | USD |
| CY2017Q1 | thm |
Geological And Geophysical Costs
GeologicalAndGeophysicalCosts
|
121057 | USD |
| CY2018Q1 | us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
40392 | USD |
| CY2017Q1 | us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
35315 | USD |
| CY2018Q1 | us-gaap |
Legal Fees
LegalFees
|
22414 | USD |
| CY2017Q1 | us-gaap |
Legal Fees
LegalFees
|
35710 | USD |
| CY2018Q1 | thm |
Assay Costs
AssayCosts
|
0 | USD |
| CY2018Q1 | thm |
Environmental Costs
EnvironmentalCosts
|
35912 | USD |
| CY2017Q1 | thm |
Environmental Costs
EnvironmentalCosts
|
48774 | USD |
| CY2018Q1 | thm |
Equipment Rental
EquipmentRental
|
9052 | USD |
| CY2017Q1 | thm |
Equipment Rental
EquipmentRental
|
10341 | USD |
| CY2017Q1 | thm |
Assay Costs
AssayCosts
|
411617 | USD |
| CY2017Q1 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
711116 | USD |
| CY2018Q1 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
204212 | USD |
| CY2018Q1 | thm |
Transportation And Traveling Cost
TransportationAndTravelingCost
|
398 | USD |
| CY2017Q1 | thm |
Transportation And Traveling Cost
TransportationAndTravelingCost
|
1276 | USD |
| CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
144896 | USD |
| CY2018Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
175838 | USD |
| CY2018Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
28759 | USD |
| CY2018Q1 | thm |
Accrued General Corporate Cost Current
AccruedGeneralCorporateCostCurrent
|
63510 | USD |
| CY2018Q1 | thm |
Accrued Project Cost Current
AccruedProjectCostCurrent
|
112328 | USD |
| CY2011Q4 | thm |
Derivative Liability Value On Initial Recognition
DerivativeLiabilityValueOnInitialRecognition
|
23100000 | USD |
| CY2018Q1 | thm |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfSharesAuthorized
|
0.1 | pure |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P4Y8M23D | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
420085 | shares |
| CY2018Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
174167 | USD |
| CY2017Q4 | thm |
Share Based Compensation Arrangement By Share Based Paymen Taward Equity Instruments Other Than Options Grants In Period Aggregate Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymenTawardEquityInstrumentsOtherThanOptionsGrantsInPeriodAggregateWeightedAverageGrantDateFairValue
|
482436 | CAD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
|
499493 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
|
554780 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
|
560029 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due After Fifth Year
ContractualObligationDueAfterFifthYear
|
565357 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation
ContractualObligation
|
3273780 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
|
544513 | USD |
| CY2018Q1 | us-gaap |
Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
|
549608 | USD |
| CY2018Q1 | us-gaap |
Common Stock No Par Value
CommonStockNoParValue
|
0 | |
| CY2017Q4 | us-gaap |
Common Stock No Par Value
CommonStockNoParValue
|
0 | |
| CY2018Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
162392996 | shares |
| CY2018Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
186522683 | shares |
| CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
162392996 | shares |
| CY2018Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
186522683 | shares |
| thm |
Obligation To Issue Shares
ObligationToIssueShares
|
0 | USD | |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
99492 | USD | |
| CY2017Q1 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
45000 | USD |
| CY2017Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
4477000 | shares |
| CY2018Q1 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
4144752 | shares |
| CY2017Q4 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
4310333 | shares |
| CY2018Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> </div> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"></td> <td style="WIDTH: 0.25in"> <div><b>1.</b></div> </td> <td style="TEXT-ALIGN: justify"> <div><b>GENERAL INFORMATION AND NATURE OF OPERATIONS</b></div> </td> </tr> </table>   <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">International Tower Hill Mines Ltd. (“ITH” or the "Company") is incorporated under the laws of British Columbia, Canada. The Company’s head office address is 2300-1177 West Hastings Street, Vancouver, British Columbia, Canada.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">International Tower Hill Mines Ltd. consists of ITH and its wholly owned subsidiaries Tower Hill Mines, Inc. (“TH Alaska”) (an Alaska corporation), Tower Hill Mines (US) LLC (“TH US”) (a Colorado limited liability company), Livengood Placers, Inc. (“LPI”) (a Nevada corporation), and 813034 Alberta Ltd. (an Alberta corporation). The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. At March 31, 2018, the Company controls a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% interest in its Livengood Gold Project, an exploration-stage project in Alaska, U.S.A.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">These unaudited condensed consolidated interim financial statements have been prepared on a going-concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">As at March 31, 2018, the Company had cash and cash equivalents of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">13,174,233</font> compared to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,244,466</font> at December 31, 2017. The Company has no revenue generating operations from which it can internally generate funds. On March 13, 2018, the Company completed a non-brokered private placement pursuant to which it issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 24,000,000</font> common shares at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.50</font> per share for gross proceeds of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">12,000,000</font>.</div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The Company will require significant additional financing to continue its operations (including general and administrative expenses) in connection with advancing activities at the Livengood Gold Project and the development of any mine that may be determined to be built at the Livengood Gold Project, and there is no assurance that the Company will be able to obtain the additional financing required on acceptable terms, if at all. In addition, any significant delays in the issuance of required permits for the ongoing work at the Livengood Gold Project, or unexpected results in connection with the ongoing work, could result in the Company being required to raise additional funds to advance permitting efforts. The Company’s review of its financing options includes pursuing a future strategic alliance to assist in further development, permitting and future construction costs, although there can be no assurance that any such strategic alliance will, in fact, be realized.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">Despite the Company’s success to date in raising significant equity financing to fund its operations, there is significant uncertainty that the Company will be able to secure any additional financing in the current or future equity markets. The amount of funds to be raised and the terms of any proposed equity financing that may be undertaken will be negotiated by management as opportunities to raise funds arise. Specific plans related to the use of proceeds will be devised once financing has been completed and management knows what funds will be available for these purposes.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2018Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
24000000 | shares |
| CY2018Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.50 | |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
12000000 | USD |
| CY2017Q4 | thm |
Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedNumber
|
166667 | shares |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
420085 | shares |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
503419 | shares |
| CY2018Q1 | thm |
Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedNumber
|
83333 | shares |
| CY2018Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
12099 | USD |
| CY2017Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
15543 | USD |
| CY2017Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.40 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.48 | |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
0.47 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.9367 | pure |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
| CY2018Q1 | us-gaap |
Lessor Leasing Arrangements Operating Leases Renewal Term
LessorLeasingArrangementsOperatingLeasesRenewalTerm
|
P19Y | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
420085 | shares |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
|
1 | pure |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
|
2024-03-21 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.61 | |
| CY2018Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2017Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2016Q4 | thm |
Average Gold Price
AverageGoldPrice
|
1354.79 | |
| CY2018Q1 | us-gaap |
Acquisition Costs
AcquisitionCosts
|
0 | USD |
| CY2018Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.40 |
