Consolidated Statements of Loss and Deficit
For the years ended
(expressed in thousands of Canadian dollars except for loss per share and weighted average number of shares outstanding)
| April 30, 2008 | April 30, 2007 | |||
|---|---|---|---|---|
| Administrative Expenses | ||||
| Administration fees and rent | $ | 192 | $ | 126 |
| Professional fees | 393 | 1,975 | ||
| Office and sundry | 678 | 201 | ||
| Property management fees | – | (57) | ||
| Regulatory and shareholder communication expense | 708 | 735 | ||
| Salaries and benefits | 1,114 | 1,435 | ||
| Stock-based compensation (Note 9k) | 1,143 | 1,446 | ||
| Loss Before the Following | (4,228) | (5,861) | ||
| Other Income (Expenses) | ||||
| Write-off of resource property costs | (26,334) | (16,500) | ||
| Write-down of investments | (513) | – | ||
| Interest expense | (70) | (537) | ||
| Gain on settlement of debt | – | 321 | ||
| Interest income | 739 | 883 | ||
| Loss on sale of a mineral property interest | (5,465) | – | ||
| Loss on sale of investments | – | (16) | ||
| (31,643) | (15,849) | |||
| Loss Before Income Taxes | (35,871) | (21,710) | ||
| Future income tax recovery (Note 11) | 8,342 | 2,145 | ||
| Total Loss After Income Taxes | (27,529) | (19,565) | ||
| Non-Controlling Minority Interest | – | 428 | ||
| Net Loss for the Year | (27,529) | (19,137) | ||
| Deficit – Beginning of year | (35,868) | (16,731) | ||
| Deficit – End of Year | $ | (63,397) | $ | (35,868) |
| Loss per Share – Basic and Diluted | $ | (0.14) | $ | (0.15) |
| Weighted Average Number of Shares Outstanding | 198,496,752 | 131,409,520 |
– See Accompanying Notes –