| SEGMENT INFORMATION |
NOTE 15 – SEGMENT INFORMATION
The Company operates in a single reportable
segment: the exploration of mineral property interests. The Company has mineral property interests in Sierra Mojada, Mexico.
Geographic
information is approximately as follows:
| | |
For the Three Months Ended | |
For the Six Months Ended |
| | |
April 30, | |
April 30, |
| | |
2020 | |
2019 | |
2020 | |
2019 |
| | |
| |
| |
| |
|
| Mexico | |
| (117,000 | ) | |
$ | (377,000 | ) | |
$ | (314,000 | ) | |
$ | (846,000 | ) |
| Canada | |
| (361,000 | ) | |
| 63,000 | | |
| (732,000 | ) | |
| (470,000 | ) |
| Net Loss | |
| (478,000 | ) | |
$ | (314,000 | ) | |
$ | (1,046,000 | ) | |
$ | (1,316,000 | ) |
| | |
| | | |
| | | |
| | | |
| | |
The following table details the allocation of assets included
in the accompanying balance sheet at April 30, 2020:
| | |
Canada | |
Mexico | |
Total |
| Cash and cash equivalents | |
$ | 1,317,000 | | |
$ | 17,000 | | |
$ | 1,334,000 | |
| Value-added tax receivable, net | |
| — | | |
| 216,000 | | |
| 216,000 | |
| Other receivables | |
| 5,000 | | |
| 5,000 | | |
| 10,000 | |
| Prepaid expenses and deposits | |
| 54,000 | | |
| 100,000 | | |
| 154,000 | |
| Office and mining equipment, net | |
| — | | |
| 208,000 | | |
| 208,000 | |
| Property concessions | |
| — | | |
| 5,020,000 | | |
| 5,020,000 | |
| Goodwill | |
| — | | |
| 2,058,000 | | |
| 2,058,000 | |
| | |
$ | 1,376,000 | | |
$ | 7,624,000 | | |
$ | 9,000,000 | |
The following table details the allocation of assets included
in the accompanying balance sheet at October 31, 2019:
| | |
Canada | |
Mexico | |
Total |
| Cash and cash equivalents | |
$ | 1,370,000 | | |
$ | 62,000 | | |
$ | 1,432,000 | |
| Value-added tax receivable, net | |
| — | | |
| 256,000 | | |
| 256,000 | |
| Other receivables | |
| 4,000 | | |
| 5,000 | | |
| 9,000 | |
| Prepaid expenses and deposits | |
| 103,000 | | |
| 102,000 | | |
| 205,000 | |
| Office and mining equipment, net | |
| — | | |
| 226,000 | | |
| 226,000 | |
| Property concessions | |
| — | | |
| 5,020,000 | | |
| 5,020,000 | |
| Goodwill | |
| — | | |
| 2,058,000 | | |
| 2,058,000 | |
| | |
$ | 1,477,000 | | |
$ | 7,729,000 | | |
$ | 9,206,000 | |
The Company has significant assets in
Coahuila, Mexico. Although Mexico is generally considered economically stable, it is always possible that unanticipated events
in Mexico could disrupt the Company’s operations. The Mexican government does not require foreign entities to maintain cash
reserves in Mexico.
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