As at September 30, 2021 and for the three-month and nine-month periods ended
September 30, 2021 and 2020 (in US dollars) (Unaudited).
UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3 (3)(a), if an auditor has not performed a review of the interim financial
statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited condensed interim consolidated financial statements of the Corporation have been prepared
by, and are the responsibility of the Corporation's management.
The unaudited condensed interim consolidated financial statements of Dynacor Gold Mines Inc. as at September 30, 2021
and for the three-month and nine-month periods ended September 30, 2021 and 2020, have not been reviewed by the Corporation’s external auditors.
Dynacor Gold Mines Inc.
Condensed Interim Consolidated Statements of Financial Position (Unaudited)
(Expressed in US dollars)
As at September 30, 2021 $ As at December 31, 2020 $
ASSETS
CURRENT ASSETS
Cash (Note 5) 17,802,945 11,867,763
Accounts receivable (Note 6) 11,843,459 8,434,005
Inventories (Note 7) 17,129,666 13,401,022
Prepaid expenses and other assets 503,017 129,372
47,279,087 33,832,162
NON-CURRENT ASSETS
Property, plant and equipment (Note 8) 20,188,888 19,677,020
Right-of-use assets (Note 11) 1,072,667 833,659
Exploration and evaluation assets (Note 9) 18,522,547 18,510,196
Other non-current assets (Note 7) 1,331,864 3,443,120
41,115,966 42,463,995
TOTAL ASSETS 88,395,053 76,296,157
LIABILITIES
CURRENT LIABILITIES
Trade and other payables (Note 10) 10,858,570 7,081,900
Current tax liabilities 2,111,968 1,123,549
Current portion of lease liabilities (Note 11) 116,682 223,899
13,087,220 8,429,348
NON-CURRENT LIABILITIES
Asset retirement obligations (Note 12) 3,534,575 3,603,616
Lease liabilities (Note 11) 964,645 482,849
Deferred tax liabilities 1,846,000 1,036,164
6,345,220 5,122,629
TOTAL LIABILITIES 19,432,440 13,551,977
SHAREHOLDERS' EQUITY
Share capital (Note 13 a)) 21,517,002 21,011,151
Contributed surplus (Notes 13 b) and c)) 3,391,624 3,483,715
Retained earnings 44,053,987 38,249,314
TOTAL SHAREHOLDERS’ EQUITY 68,962,613 62,744,180
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 88,395,053 76,296,157
The accompanying notes are an integral part of the condensed interim consolidated financial statements.
Approved by the Board of Directors,
(s) Jean Martineau (s) Roger Demers FCPA,FCA,ASC
Jean Martineau Roger Demers FCPA, FCA, ASC
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https://dynacor.com/condensed-interim-consolidated-financial-statements-september-30-2021/ |
