7Baggers

Northern Dynasty Minerals Ltd
(NYSE MKT:NAK) 

NAK stock logo

Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble copper-gold-molybdenum project comprising 2,402 mineral claims that covers an area of approximately 417 square miles located in southwest Alaska. The com...

Founded: 1983
Sector: Basic Materials
Industry: Other Industrial Metals & Mining
Materials
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-11-10 2024-11-10 2024-06-30 2024-05-12 2021-05-20 2020-09-30 2020-08-18 2020-05-20 2019-11-22 2019-08-19 2019-05-21 2018-11-15 2018-05-16 2016-06-30 
                  
      expenses
    		              
      exploration and evaluation
    		1,734 932 909 1,763 3,286 14,470 10,332 7,234 14,265 14,701 12,050 16,847 7,721 1,294,000 
      general and administrative
    		2,274 2,145 2,337 2,611 2,462 3,272 2,727 2,407 2,723 2,171 2,349 1,909 2,281  
      legal, accounting and audit
    		2,232 551 716 934 2,287 701 638 987 -45 790     
      share-based compensation
    		241 8 7 5 1,322 6,992 615 447 2,149 662 704 2,284 836 186,000 
      derivative adjustment 1
    		1,311              
      other items 2
    		21       -360 26 -50   -393  
      loss for the quarter 3
    		7,813              
      basic and diluted loss per common share
    		0.01 0.01 0.01 0.01 0.02 0.05 0.03 0.02 0.05 0.05 0.05  0.04 30 
      weighted-average number of common shares
    		550,023 537,724 537,724 538,205 511,259 499,285 451,788 434,012 371,605 346,717     
      e&e
    		              
      engineering
    		150 58 52 932 1,109 2,120 5,091 1,305 4,065 8,238     
      environmental
    		168 86 118 103 829 4,403 2,880 3,034 4,227 2,943     
      property fees
    		13 14 1   7   14      
      site activities
    		461 225 361 234 466 1,849 394 416 2,083 716     
      socio-economic
    		664 387 369 465 827 4,149 1,895 2,357 2,171 2,555     
      transportation
    		229 149  10 15 1,831 38 12 1,465 196     
      other activities and travel
    		49 13 8 19 40 111 34 110 240 53     
      total
    		1,734 932 909 1,763 3,286 14,470 10,332 7,234 14,265 14,701     
      g&a
    		2,025 2,024 2,024 2,024           
      conference and travel
    		117 28 50 309 26 5 34 97 150 68     
      consulting
    		315 231 128 127 279 556 461 305 230 189     
      depreciation of right-of-use assets
    		26 26 26 26 55 58 61 58 55 57     
      insurance
    		504 653 710 653 269 235 175 172 173 170     
      office costs, including information technology
    		170 176 184 205 204 333 363 189 221 242     
      management and administration
    		933 793 847 894 1,189 1,894 1,363 1,183 1,789 1,047     
      shareholder communication
    		168 218 375 214 230 161 179 199 199 284     
      trust and filing
    		41 20 17 183 210 30 91 204 -94 114     
      total g&a
    		2,274 2,145 2,337 2,611 2,462 3,272 2,727 2,407 2,723 2,171     
      other items 1
    		 917 -311  162 326 144        
      loss for the quarter2
    		 4,553             
      loss for the quarter 2
    		  3,658 5,328           
      loss for the quarter
    		    9,519 25,761 14,456 10,715 19,118 18,274   11,092 6,588,000 
      non-refundable option installment 1
    		              
      legal, accounting and audit 1
    		          891 697 647  
      non-refundable option installment 2
    		              
      other items 3
    		          217 210   
      loss (income) for the quarter
    		          16,211 21,947   
      weighted average number of common shares
    		          326,902 312,491 310,006  
      1.
    		              
      2.
    		              
      3.
    		              
      non-refundable early price installment 2
    		              
      basic and diluted loss per share
    		           0.07   
      general and administrative1,2
    		             1,844,000 
      legal, accounting and audit1
    		             3,318,000 
      other items3
    		              
      weighted-average number of
    		              
      common shares
    		             230,920,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-11-10 2024-11-10 2024-06-30 2024-05-12 2023-05-10 2022-11-10 2022-08-12 2022-05-11 2021-11-15 2021-06-30 2021-05-20 2020-09-30 2020-08-18 2020-05-20 2019-11-22 2019-08-19 2019-05-21 2018-11-15 2018-08-15 2018-05-16 2017-09-30 2017-06-30 2017-03-31 2016-09-30 2016-06-30 2015-12-31 2015-09-30 2015-03-31 2014-12-31 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 2012-03-31 2011-09-30 2011-06-30 2011-03-31 2010-09-30 2010-08-04 2010-05-17 2009-09-30 2009-08-10 2009-03-31 2008-09-30 2008-08-13 2008-03-31 2007-09-30 2006-09-30 2006-06-30 2006-03-31 2005-09-30 2005-06-30 2005-03-31 2004-12-31 2004-11-23 2004-06-30 2004-03-31 2003-09-30 
                                                                  
        assets
      		                                                            
        non-current assets
      		                                                            
        restricted cash
      		981,000 924,000 923,000 902,000 859,000 863,000 800,000 777,000 788,000 770,000 780,000 828,000 843,000 874,000 818,000 805,000 817,000 782,000 793,000 778,000 748,000 778,000    453,000 1,165,000 1,276,000 1,206,000 1,280,000 1,327,000                              
        mineral property, plant and equipment
      		80,816,000 111,078,000 126,061,000 124,502,000 127,161,000 130,230,000 136,700,000 132,858,000 134,846,000 131,631,000 133,723,000 142,008,000 144,826,000 150,181,000 141,687,000 140,252,000 142,725,000 137,148,000 139,606,000 137,105,000 132,216,000 137,502,000 141,073,000 139,234,000 137,162,000 147,088,000 141,900,000 134,896,000 123,608,000 113,830,000 117,969,000                              
        total non-current assets
      		81,797,000 112,002,000 126,984,000 125,404,000 128,020,000 131,093,000 137,500,000 133,635,000 135,634,000 132,401,000 134,503,000 142,836,000 145,669,000 151,055,000 142,505,000 141,057,000 143,542,000 137,930,000 140,399,000 137,883,000 132,216,000 137,502,000 141,073,000 139,234,000 137,162,000 147,088,000 141,900,000 134,896,000 123,608,000 113,830,000 117,969,000 103,925,000 106,072,000 102,498,000 99,223,000                          
        current assets
      		                                         45,133                   
        amounts receivable and prepaid expenses
      		649,000 547,000 1,242,000 1,971,000 2,075,000 3,459,000 485,000 1,416,000 2,428,000 829,000 844,000 1,408,000 790,000 692,000 1,067,000 489,000 557,000 1,346,000 798,000 999,000 724,000 465,000 535,000 690,000 535,000 1,075,000 942,000 604,000 962,000 1,177,000 1,164,000 5,505,000 5,280,000 5,147,000                           
        cash and cash equivalents
      		44,847,000 21,835,000 11,724,000 15,179,000 9,441,000 24,506,000 12,921,000 17,925,000 28,039,000 37,076,000 37,720,000 63,105,000 14,751,000 7,267,000 12,962,000 10,398,000 20,246,000 21,462,000 14,798,000 27,956,000 30,949,000 34,032,000 39,715,000 7,911,000 12,196,000 7,509,000 12,606,000 6,018,000 9,447,000 12,561,000 18,626,000 22,539,000 24,413,000 25,670,000 30,562,000 35,727,000 39,688,000 41,539,000 41,753,000 39,723,000 41,581,000  44,995,000 45,411,000 45,162,000                
        total current assets
      		45,496,000 22,386,000 12,966,000 17,150,000 11,516,000 27,965,000 13,406,000 19,341,000 30,467,000 37,905,000 38,564,000 64,513,000 15,559,000 7,959,000 14,029,000 10,887,000 20,803,000 30,000,000 50,581,000 63,177,000 39,099,000 50,008,000 55,243,000 8,601,000 12,731,000 10,616,000 14,713,000 8,091,000 11,902,000 15,018,000 21,117,000 28,044,000 29,693,000 30,817,000 35,623,000                          
        total assets
      		127,293,000 134,388,000 139,950,000 142,554,000 139,536,000 159,058,000 150,906,000 152,976,000 166,101,000 170,306,000 173,067,000 207,349,000 161,228,000 159,014,000 156,534,000 151,944,000 164,345,000 167,930,000 190,980,000 201,060,000 171,315,000 187,510,000 196,316,000 147,835,000 149,893,000 157,704,000 156,613,000 142,987,000 135,510,000 128,848,000 139,086,000 131,969,000 135,765,000 133,315,000 134,846,000 141,461,000 149,505,000 142,281,000 143,167,000 147,217,000 152,305,000 150,070 152,140,000 161,762,000 171,253,000 220,113,000 220,546,000 218,787,000 214,884,000 260,655,917 175,003,414 28,985,446    25,630,081     
        equity
      		                                                            
        capital and reserves
      		                                                            
        share capital
      		736,842,000 702,713,000 702,713,000 702,713,000 700,278,000 700,278,000 700,278,000 700,278,000 700,256,000 698,022,000 686,341,000 682,438,000 615,565,000 594,051,000 568,695,000 550,735,000 543,082,000 516,763,000 516,367,000 516,108,000 509,907,000 509,790,000 505,690,000 446,860,000 445,567,000 435,069,000 404,154,000 393,365,000 389,227,000 389,227,000 389,227,000 389,227,000 389,227,000 389,189,000 389,153,000 389,153,000 388,272,000 388,273,000 385,558,000 377,549,000 377,351,000  369,026,000 368,571,000 365,682,000 365,202,000 365,202,000 365,202,000 360,678,000 349,801,771 251,627,512 138,009,137 120,341,358 113,184,823 112,460,028 76,109,561 59,817,157 49,959,331 43,622,159 20,199,680 
        reserves
      		116,676,000 120,039,000 121,326,000 120,006,000 118,441,000 120,707,000 109,182,000 105,316,000 107,064,000 104,482,000 107,484,000 114,159,000 112,558,000 117,690,000 108,587,000 105,408,000 107,240,000 102,179,000 102,162,000 98,300,000 94,085,000 96,673,000 100,014,000 100,188,000 95,500,000 99,035,000 105,242,000 94,749,000 84,031,000 61,686,000 65,151,000 55,168,000 57,236,000 53,583,000 49,540,000 47,953,000 49,663,000 38,859,000 37,425,000 38,084,000 40,061,000  38,513,000 45,246,000 55,119,000                
        deficit
      		-793,123,000 -710,325,000 -705,707,000  -683,022,000 -669,585,000 -662,170,000 -655,982,000 -647,387,000 -638,721,000 -629,497,000 -607,038,000 -581,277,000 -566,821,000   -503,124,000 -474,416,000 -452,469,000 -482,048,000                                         
        total equity
      		60,395,000 112,427,000 118,332,000 120,670,000 135,697,000 151,400,000 147,290,000 149,612,000 159,933,000 163,783,000 164,328,000 189,559,000 146,846,000 144,920,000 136,766,000 134,745,000 147,198,000 144,526,000 166,060,000 132,360,000 144,404,000 164,763,000 194,187,000 146,466,000 147,092,000 154,980,000 142,680,000 136,573,000 127,963,000 121,631,000 131,967,000 127,859,000 131,629,000 129,456,000 130,214,000                          
        liabilities
      		                                                            
        non-current liabilities
      		                                                            
        trade and other payables
      		407,000 522,000 323,000 333,000 423,000 1,386,000 1,325,000 1,319,000 596,000 402,000 580,000 756,000 840,000 941,000 992,000 1,039,000 652,000 6,809,000 6,928,000 6,821,000 13,192,000 13,716,000 1,654,000 1,154,000 2,533,000 2,047,000 7,996,000 5,983,000 5,650,000 3,324,000 3,033,000 331,000 253,000 145,000                           
        total non-current liabilities
      		407,000 522,000 323,000 333,000 423,000 1,386,000 1,325,000 1,319,000 596,000 402,000 580,000 756,000 840,000 941,000 992,000 1,039,000 652,000 6,809,000 6,928,000 55,189,000 13,192,000 13,716,000      195,000 1,514,000 3,677,000 3,785,000                              
        current liabilities
      		                                         193                   
        convertible notes liability
      		2,568,000 2,487,000 2,430,000 2,318,000                                                         
        derivative on convertible notes
      		60,419,000 17,568,000 16,832,000 17,055,000                                                         
        payables to related parties
      		899,000 153,000 185,000 502,000 384,000 327,000 322,000 508,000 514,000 441,000 447,000 933,000 92,000 313,000 332,000 188,000 291,000 622,000 835,000 1,170,000 538,000 480,000 475,000 215,000 268,000                                    
        total current liabilities
      		66,491,000 21,439,000 21,295,000 21,551,000 3,416,000 6,272,000 2,291,000 2,045,000 5,572,000 6,121,000 8,159,000 17,034,000 13,542,000 13,153,000 18,776,000 16,160,000 16,495,000 16,595,000 17,992,000 13,511,000 13,719,000 9,031,000 2,129,000 1,369,000 2,801,000 2,724,000 13,933,000 6,219,000 6,033,000 3,540,000 3,334,000 350,000 297,000 150,000 1,043,000                          
        total liabilities
      		66,898,000 21,961,000 21,618,000 21,884,000 3,839,000 7,658,000 3,616,000 3,364,000 6,168,000 6,523,000 8,739,000 17,790,000 14,382,000 14,094,000 19,768,000 17,199,000 17,147,000 23,404,000 24,920,000 68,700,000 26,911,000 22,747,000 2,129,000 1,369,000 2,801,000 2,724,000 13,933,000 6,414,000 7,547,000 7,217,000 7,119,000 4,110,000 4,136,000 3,859,000 4,632,000 4,179,000 3,955,000 3,715,000 3,906,000 3,930,000 4,000,000               3,025,155     
        total equity and liabilities
      		127,293,000 134,388,000 139,950,000 142,554,000 139,536,000 159,058,000 150,906,000 152,976,000 166,101,000 170,306,000 173,067,000 207,349,000 161,228,000 159,014,000 156,534,000 151,944,000 164,345,000 167,930,000 190,980,000 201,060,000 171,315,000 187,510,000 196,316,000 147,835,000 149,893,000 157,704,000 156,613,000 142,987,000 135,510,000 128,848,000 139,086,000 131,969,000 135,765,000 133,315,000 134,846,000 141,461,000 149,505,000 142,281,000 143,167,000 147,217,000 152,305,000  152,140,000 161,762,000 171,253,000                
        nature and continuance of operations
      		                                                            
        commitments and contingencies
      		                                                            
        events after the reporting period
      		                                                            
        receivable from related party
      		 4,000                                                           
        warrant liabilities
      		             19,000 84,000 84,000                                             
        loans payable
      		                                                            
        amounts receivable from related parties
      		            18,000                                                
        events after the reporting date
      		                                                            
        investment
      		                 7,192,000                                           
        non-refundable early option price installment
      		                   48,368,000                                         
        investments
      		                  34,978,000 34,218,000                                         
        amounts receivable a from related party
      		                  7,000 4,000                                         
        held-to-maturity investments
      		                    6,678,000 14,727,000 14,993,000                                      
        amounts receivable from a related party
      		                     6,000                                       
        available-for-sale financial assets
      		                         1,579,000  193,000 287,000                                
        deferred income taxes
      		                           195,000 1,514,000 3,677,000 3,785,000 3,760,000 3,839,000 3,709,000 3,589,000 3,643,000 3,829,000 3,523,000 3,542,000 3,737,000 3,825,000                    
        payable to a related party
      		                         677,000  236,000 383,000 216,000 301,000 19,000 44,000 5,000                           
        loan
      		                          4,303,000                                  
        payables to a related parties
      		                          1,634,000                                  
        continuance of operations
      		                                                            
        commitments
      		                                                            
        investment in the pebble limited partnership
      		                               102,870,000 105,017,000 101,443,000 98,168,000 99,595,000 104,658,000 96,301,000 96,810,000 102,741,000 106,295,000  106,904,000 116,120,000 125,935,000                
        exploration and evaluation assets
      		                               1,055,000 1,055,000 1,055,000 1,055,000 1,055,000                         
        total non-current liabilties
      		                               3,760,000 3,839,000  3,589,000                          
        non­-current assets
      		                                                            
        non­current liabilities
      		                                                            
        total non­current liabilties
      		                                 3,709,000                           
        balances receivable from a related party
      		                                   115,000   75,000                      
        amounts receivable and other assets
      		                                  5,061,000 4,969,000 4,103,000 3,385,000 3,473,000 3,556,000 3,314,000                    
        balances payable to a related party
      		                                  177,000  31,000 110,000 225,000    178,000                  
        amounts payable and other liabilities
      		                                  866,000 536,000 95,000 82,000 139,000 193,000 101,000                    
        non-current assets - sum
      		                                   100,650,000   97,865,000                      
        current assets - sum
      		                                   40,811,000   45,302,000       51,115,000   46,068,000  22,515,704  18,645,573    20,535,075  24,780,916  
        non-current liabilities - sum
      		                                   3,643,000   3,542,000                      
        current liabilities - sum
      		                                   536,000   364,000       14,363,000   7,199,000  50,360,256      7,086,746  630,942  
        mineral property interest
      		                                    1,055,000 1,055,000 1,055,000 1,055,000 1,055,000                    
        marketable securities
      		                                    1,000 1,000 1,000 2,000 1,000  1,000 3,000 2,000 3,000 12,000 11,000 25,000    363,906 363,906 363,906  363,906 364,000   
        balance receivable from a related party
      		                                       140,000 59,000                    
        balance payable to a related party
      		                                        74,000                    
        other assets
      		                                                            
        mineral property interests
      		                                             168,222,000 168,222,000 168,222,000 168,222,000 152,177,861 152,095,982 16,706,930 16,706,930 16,706,930 16,706,930 11,788,621     
        investment in the pebble partnership
      		                                         104,937                   
        shareholders’ equity
      		                                         146,070              22,415,786     
        other liabilities
      		                                         3,807                   
        total shareholders’ equity and liabilities
      		                                         150,070                   
        working capital
      		                                         44,940              10,229,064     
        property, plant and equipment
      		                                           1,000 2,000                
        amounts receivable and prepayments
      		                                          240,000 91,000 138,000                
        accounts payable and accrued liabilities
      		                                          165,000 69,000 166,000 13,347,000 11,166,000 8,723,000 7,175,000 6,391,200 4,165,651 2,986,512 4,717,473 4,812,534 3,702,631  6,727,938 2,303,923 393,769 380,432 
        balances receivable from related parties
      		                                           136,000 14,000      599,033 517,347 153,649 258,430    54,009   
        cash and equivalents
      		                                             48,757,000 49,005,000 47,401,000 35,885,000 106,731,520 21,226,654 10,722,854 17,547,238 27,163,990 38,301,111  19,848,621 24,174,721 24,574,021 5,274,038 
        amounts receivable and prepaids
      		                                             2,355,000 2,534,000 2,368,000 1,494,000 638,494 690,017 644,679 580,780 478,920 596,854  322,548 148,713 206,895 112,407 
        balance receivable from related parties
      		                                                8,664,000            
        equipment
      		                                             776,000 773,000 785,000 594,000 512,457 391,728 393,636 431,356 449,985 404,814 398,101 264,193 146,772 32,988 4,235 
        liabilities and shareholders' equity
      		                                                            
        balance payable to related parties
      		                                             1,016,000 237,000 504,000 24,000            
        future income tax liability
      		                                             57,786,000 57,786,000 57,786,000 57,831,000 46,194,605 46,194,605          
        non-controlling interest
      		                                             147,713,000 98,659,000 61,389,000 16,610,000            
        shareholders' equity
      		                                                            
        contributed surplus
      		                                             22,452,000 22,023,000 17,967,000 18,229,000 10,999,298 8,496,816 8,391,924 11,152,097 9,654,645 8,895,439  5,723,697 4,169,295 4,124,952 50,403 
        accumulated other comprehensive loss
      		                                                            
        nature of operations
      		                                                            
        subsequent events
      		                                                            
        total liabilities and shareholders' equity
      		                                             220,113,000 220,546,000 218,787,000 214,884,000 260,655,917 175,003,414 28,985,446         
        subsequent event
      		                                                            
        options exercised proceeds receivable
      		                                                            
        accumulated other comprehensive income
      		                                                5,000            
        due from related parties
      		                                                 595,585           
        liabilities and shareholders equity
      		                                                            
        balances payable to related parties
      		                                                      189,548  358,808  237,173 462,646 
        total assets according to financial
      		                                                       25,440,941     
        statements
      		                                                            
        period end balances
      		                                                            
        number of outstanding shares
      		                                                       47,690,287     
        subscriptions received
      		                                                            
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-03-31 2020-03-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2013-09-30 2012-03-31 2011-09-30 2011-06-30 2011-03-31 2010-09-30 2010-08-04 2010-05-17 2009-09-30 2009-08-10 2009-03-31 2008-09-30 2008-08-13 2008-03-31 2006-09-30 2006-06-30 2006-03-31 2005-09-30 2005-06-30 2005-03-31 2004-11-23 2004-06-30 2004-03-31 
                                        
          expenses
        		                                
          exploration and evaluation expenses
        		2,033,000 7,234,000   2,025,000                            
          general and administrative expenses
        		2,600,000 2,407,000   2,130,000                            
          legal, accounting and audit professional fees
        		1,004,000                                
          share-based compensation expense
        		135,000                                
          income from operating activities
        		5,772,000 11,075,000   8,165,000                            
          foreign exchange (gain) loss
        		25,000 -333,000                               
          interest income
        		-128,000 -42,000          168,000 147,000 132,000 85,000 9,000 81,000 64,000 -41,000 88,000             
          finance expense
        		229,000 39,000                               
          loss on change in fair value of convertible notes derivative
        		34,476,000                                
          net income before tax
        		                                
          income tax expense
        		                                
          net income
        		40,374,000 10,715,000                               
          other comprehensive (income) loss
        		 -10,773,000                               
          items that may be subsequently reclassified to net income
        		                                
          foreign exchange translation difference
        		271,000 -10,773,000   8,875,000                            
          total comprehensive loss
        		40,645,000                                
          basic and diluted loss per share
        		80 20                               
          page | 3
        		                                
          other comprehensive loss
        		271,000                                
          the accompanying notes are an integral part of these condensed consolidated interim financial statements.
        		                                
          legal, accounting and audit
        		 987,000   3,854,000                            
          share-based compensation
        		 447,000 1,939,000 186,000 156,000 469,000 33,000 41,000 360,000 0 1,777,000 2,752,000 2,782,000 6,501,000 -2,797,000 3,438,000 902,000 -39,000 -3,116,000 4,468,000             
          foreign exchange loss
        		    150,000  284,000 20,000 84,000  82,000  18,000 79,000   21,000                
          other income
        		                                
          page | 4
        		                                
          gain on revaluation of warrant liabilities
        		 -24,000                               
          income before tax
        		 10,715,000   8,263,000                            
          deferred income tax (recovery) expense
        		                                
          total comprehensive (income) loss
        		 -58,000                               
          notes
        		 2,020,000                               
          operating activities
        		                                
          non-cash or non operating items
        		                                
          depreciation
        		 159,000 50,000 48,000 56,000 69,000 79,000 55,000 76,000         1,000 -8,000 9,000         19,468 5,639 3,768 2,197 
          interest on credit facility loans
        		 9,000                               
          unrealized exchange differences
        		 -243,000                               
          changes in working capital items
        		                                
          amounts receivable and prepaid expenses
        		 227,000 -146,000 12,000 503,000  -389,000 84,000 364,000          20,000 27,000             
          trade and other payables
        		 -576,000  -1,559,000 2,188,000  1,086,000 482,000 68,000                        
          payables to related parties
        		 371,000                               
          net cash from operating activities
        		 -10,387,000                               
          capital expenditures
        		 0                               
          free cash flows
        		 -10,387,000                               
          investing activities
        		                                
          interest received on cash and cash equivalents
        		 35,000 16,000 1,000 5,000                            
          net cash from investing activities
        		 35,000 16,000 1,000 1,759,000 189,000 282,000    56,000 152,000 147,000 132,000     -41,000 88,000             
          financing activities
        		                                
          proceeds from issuance of common shares
        		                                
          transaction costs in the issuance of common shares
        		 -10,000                               
          proceeds from private placement financings
        		 6,015,000                               
          transaction costs for the private placement financings
        		 -95,000                               
          proceeds from the exercise of share purchase options and warrants
        		                                
          payments of principal portion of lease liabilities
        		 -96,000                               
          repayment of credit facility loans
        		 -2,523,000                               
          additional costs paid for issue of special warrants
        		                                
          net cash from financing activities
        		 3,291,000 1,931,000 16,116,000 66,000 13,029,000      0 991,000 3,203,000     1,447,000 31,000             
          net increase in cash and cash equivalents
        		 -7,061,000 -4,225,000          -213,000 1,351,000   1,581,000                
          effect of exchange rate fluctuations on cash and cash equivalents
        		 290,000                               
          cash and cash equivalents - beginning balance
        		 14,038,000                               
          cash and cash equivalents - ending balance
        		 7,267,000                               
          loss for the period
        		    8,263,000                            
          amount receivable written off
        		  0                              
          deferred income tax recovery
        		                                
          interest received on cash held
        		      2,000 63,000 18,000                        
          interest payable on loan
        		                                
          gain on disposal of available-for-sale financial assets
        		                                
          loss on sale of plant and equipment
        		  0 0 23,000                            
          unrealized exchange loss
        		  60,000                              
          restricted cash
        		  0 0 453,000 678,000 87,000 24,000 37,000                        
          acquisition of plant and equipment
        		                                
          proceeds from disposal of equipment
        		                                
          proceeds from disposal of available-for-sale financial assets
        		  0 0 1,754,000 0                           
          loan proceeds
        		                                
          net proceeds from prospectus financing allocated to shares
        		                                
          net proceeds from prospectus financing allocated to warrants
        		                                
          net proceeds from private placement allocated to shares
        		                                
          net proceeds from private placement allocated to warrants
        		                                
          net proceeds from the private placement of special warrants
        		                                
          proceeds from the exercise of share purchase options
        		  28,000 0 66,000                            
          proceeds from the exercise of warrants
        		                                
          cash and cash equivalents at beginning of the period
        		  0    0 0 9,447,000 0  0 0 40,402,000 -4,874,000 1,560,000 44,895,000 249,000 -804,000 45,966,000             
          cash and cash equivalents at end of the period
        		  -4,285,000    11,792,000 -5,204,000 6,018,000 -1,874,000 35,727,000 -1,851,000 -214,000 41,753,000 -1,858,000 -4,874,000 46,455,000 -416,000 249,000 45,162,000             
          supplementary cash flow information
        		                                
          deferred income tax
        		                                
          net proceeds from prospectus financing - allocated to shares
        		                                
          net proceeds from prospectus financing - allocated to warrants
        		                                
          gain on sale of available-for-sale financial assets
        		                                
          items that may be subsequently reclassified to loss
        		                                
          decrease in fair value of available-for-sale financial assets
        		                                
          derecognition of available-for-sale financial assets
        		                                
          other comprehensive loss (income) for the period
        		    8,770,000                            
          total comprehensive loss (income) for the period
        		    17,033,000                            
          basic and diluted loss per common share
        		    40                            
          loss for the year
        		                                
          unrealized exchange (gain) loss
        		    145,000                            
          payable to related party
        		                                
          net decrease in cash and cash equivalents
        		                                
          cash and cash equivalents at beginning of the year
        		    7,509,000      37,457,000                      
          cash and cash equivalents at end of the year
        		    4,191,000                            
          non-cash or non-operating items
        		                                
          loss on disposal of equipment
        		                                
          interest receivable on loan
        		                                
          interest accrued on loans from cannon point and mission gold
        		                                
          gain on discontinuance of equity method
        		                                
          gain on disposal of surplus site inventory
        		                                
          amounts receivable from a related party
        		                                
          cash contribution to the pebble limited partnership
        		                                
          net cash received on assuming control of the pebble limited partnership
        		                                
          proceeds from disposal of surplus site inventory
        		                                
          cash received on the acquisition of cannon point and mission gold, net of transaction costs
        		                                
          net proceeds from the private placement of common shares
        		                                
          cash flows from operating activities
        		                                
          adjustments for items not affecting cash or operating activities:
        		                                
          interest receivable on loan prior to settlement
        		                                
          loss on disposal of plant and equipment
        		      0                          
          changes in non-cash working capital items
        		                                
          cash flows from investing activities
        		                                
          disposal of equipment
        		      0                          
          cash flows from financing activities
        		                                
          special warrants issued, net of issuance costs
        		      14,351,000 -31,000 3,406,000                        
          effect of exchange rate fluctuations on cash held
        		          1,000                      
          cash flows from financing activity
        		                                
          net cash from financing activity
        		       -31,000 3,406,000 0 85,000                      
          non-cash investing and financing activities:
        		                                
          the company converted special warrants on a one-for-one basis into common shares at no additional cost to holder
        		                                
          the group received title to mineral claims in settlement of a loan receivable in 2014
        		                                
          net cash (used in) from investing activities
        		                                
          special warrants issued, net of issuance cost
        		                                
          common shares issued for cash on exercise of share purchase options
        		                                
          the company received available-for-sale financial assets in payment for 650,000 special warrants issued
        		                                
          foreign exchange gain
        		                                
          cash flows from investing activity
        		                                
          net cash from investing activity
        		         105,000                       
          non-cash investing activities:
        		                                
          the group received title to mineral claims in settlement of the loan receivable
        		                                
          income tax recovery
        		              38,000                  
          interest received on cash
        		                                
          decrease (increase) in amounts receivable and prepaid expenses
        		                                
          decrease in amounts receivable from a related party
        		         0                       
          increase in trade and other payables
        		                                
          increase in payable to related party
        		                                
          interest received
        		         105,000 56,000          -58,000 -163,000 428,000          
          decrease in amounts receivable and prepaid expenses
        		                                
          (decrease) in payable to related party
        		                                
          common shares issued for cash
        		                                
          adjustments for items not affecting cash:
        		                                
          donation of shares
        		           0        437,000             
          increase in amounts receivable and other assets
        		                                
          decrease in balances receivable from related parties
        		          368,000 0                     
          increase (decrease) in amounts payable and other liabilities
        		                                
          increase in balances payable to related parties
        		             123,000                   
          loan advanced
        		                                
          common shares issued for cash, net of issue costs
        		          85,000 0 991,000 3,203,000 -470,000 -2,139,000 2,711,000 -1,224,000 1,447,000 31,000    77,572,263 16,326,738 5,647,188 6,431,740 -30,707,363 31,432,158 3,520,654 -16,220,550 22,557,722 
          (increase) in amounts receivable and other assets
        		                                
          increase in amounts payable and other liabilities
        		          366,000    26,000                  
          adjustments for:
        		                                
          decrease in amounts payable and other liabilities
        		                                
          decrease in balances payable to related parties
        		                                
          mineral property interest
        		                                
          decrease in amounts receivable and other assets
        		               50,000 6,000                
          decrease in balance receivable from related party
        		                55,000                
          increase in balance payable to related party
        		                53,000                
          net cash generated by (used in) investing activities
        		                                
          net cash generated by financing activities
        		              -470,000 -2,139,000 2,711,000                
          decrease in balance payable to related party
        		                                
          (decrease) increase in amounts payable and other liabilities
        		                                
          net cash generated by investing activities
        		                81,000                
          amounts receivable and prepayments
        		                                
          balances receivable from related parties
        		                   135,000             
          accounts payable and accrued liabilities
        		                   18,000 -262,000 1,327,000 1,116,000 1,046,410    432,427 677,476 2,513,861 1,662,027 248,127 
          balances payable to related parties
        		                                
          net cash provided from operating activities
        		                                
          net cash provided from investing activities
        		                                
          net cash provided from financing activities
        		                                
          increase in cash and cash equivalents
        		                                
          items not involving cash:
        		                                
          income for the period
        		                                
          items not involving cash
        		                                
          amortization
        		                    -10,000 -10,000 40,000 6,965 1,838 17,569 -1,097      
          contributions from non-controlling interest
        		                    11,784,000 11,433,000 25,837,000          
          future income tax recovery
        		                                
          loss on disposal of fixed assets
        		                                
          shares received for property options agreement
        		                                
          stock-based compensation
        		                    -3,627,000   -1,506,221 1,452,347 1,102,547 738,247 -631,513 1,390,719 1,510,059 -2,392,274 2,436,617 
          amounts receivable and prepaids
        		                              35,932 22,250 
          balances receivable from and payable to related parties
        		                      510,000          
          cash and equivalents from operating activities
        		                     -5,589,000 7,211,000          
          purchase of equipment
        		                                
          cash and equivalents used for investing activities
        		                                
          proceeds received on options exercised
        		                                
          cash from financing activities
        		                                
          increase in cash and equivalents
        		                     -5,456,000 7,060,000 75,001,066     25,825,064   21,132,557 
          cash and equivalents, beginning of period
        		                    1,604,000 7,060,000 40,341,000 10,503,800 -2,225,786 12,948,640 -11,137,121 25,825,064 12,476,047 -399,300 21,132,557 3,441,464 
          cash and equivalents, end of period
        		                    -248,000 1,604,000 47,401,000 85,504,866 10,503,800 10,722,854 -9,616,752 -11,137,121 38,301,111 -4,326,100 -399,300 24,574,021 
          supplementary information
        		                                
          taxes paid
        		                    -15,000 -15,000 35,000          
          interest paid
        		                                
          non-cash investing and financing activities
        		                                
          fair value of stock options allocated to shares issued upon
        		                                
          exercise
        		                                
          options exercised proceeds received
        		                                
          gain on sale of marketable securities
        		                                
          shares received for property option agreement
        		                                
          cash and equivalents used in operating activities
        		                                
          acquisition costs
        		                                
          proceeds on sale of marketable securities
        		                         558,287       
          cash and equivalents from investing activities
        		                         558,287       
          fair value adjustment of price protection guarantee
        		                                
          cash and equivalents used for operating activities
        		                                
          non-cash investing activities
        		                                
          common shares issued for acquisition
        		                                
          balances receivable from and payable to
        		                                
          related parties
        		                            201,608    
          the accompanying notes are an integral part of these consolidated financial statements.
        		                                
          issuance of shares for mineral property interests
        		                            4,918,309    
          fair value of stock options allocated to shares issued
        		                                
          upon exercise
        		                                
          marketable securities received
        		                                
          write down of marketable securities
        		                             -350,906   
          fair value adjustment on price protection
        		                                
          guarantee
        		                                
          financing activities - sum
        		                               22,557,722 
          gain on disposal of assets
        		                                
          proceeds on disposal of equipment
        		                                
          subscriptions received
        		                                
          shares issued for property option payments