Capital Management
The Company’s objectives when managing capital are to:
- Safeguard the Company’s ability to continue as a going concern,
- Have sufficient capital to continue to acquire, explore and develop the Company’s mineral properties
- Provide sufficient funds for the Company’s corporate activities.
The capital of the Company consists of the items included in shareholder’s equity. The Company’s mineral properties are in the exploration stage. As an exploration stage company, the Company is currently unable to self-finance its operations. The Company has historically relied on equity financings and, more recently, the monetization of non-core assets and a convertible debenture to finance its operations. In order to carry out the Company’s planned exploration programs and to pay for administrative costs, the Company will spend its existing working capital and raise additional funds as required. To effectively manage the Company’s capital requirements, the Company’s management has in place a planning and budgeting process. The Company is not subject to any externally imposed capital requirements. Additional information regarding capital management is disclosed in Note 1 of the consolidated financial statements for the years ended April 30, 2009 and 2008.