US GoldMining Inc
For the period ended Nov 30, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
USGO$5.06-12.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| 2023 · 2022 | |||
|---|---|---|---|
| Net cash provided by (used in): | |||
| Operating activities | |||
| Net loss for the year | $(9,356,577) | $(1,738,657) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Accretion | 21,051 | 19,255 | |
| Depreciation | 30,959 | - | |
| Share-based compensation | 423,831 | 65,303 | |
| Non-cash lease expenses | 10,735 | - | |
| Foreign exchange translation gain | 1,616 | - | |
| Changes in operating assets and liabilities | |||
| Inventories | (27,249) | - | |
| Prepaid expenses and deferred costs | (307,963) | (90,074) | |
| Other receivables | (47,113) | (68,000) | |
| Accounts payable | (268,149) | 466,102 | |
| Accrued liabilities | 85,126 | 23,922 | |
| Income tax payable | 4,918 | - | |
| Net cash used in operating activities | (9,428,815) | (1,322,149) | |
| Investing activities | |||
| Construction of camp structures | (866,140) | - | |
| Purchase of equipment | (113,383) | - | |
| Net cash used in investing activities | (979,523) | - | |
| Financing activities | |||
| Proceeds from initial public offering, net of underwriters’ fees and issuance costs | 19,056,223 | - | |
| Proceeds from common shares issued for warrant exercise | 3,363,204 | - | |
| Capital contributions from GoldMining | 46,459 | 87,284 | |
| Withholding taxes on return of capital | 53,935 | (57,702) | |
| Proceeds from settlement of funding commitment | - | 1,158,143 | |
| Advance from GoldMining | 1,003,142 | 183,302 | |
| Repayment of advance from GoldMining | (1,680,925) | - | |
| Net cash provided by financing activities | 21,842,038 | 1,371,027 | |
| Net change in cash, cash equivalents and restricted cash | 11,433,700 | 48,878 | |
| Cash, cash equivalents and restricted cash, beginning of year | 54,508 | 5,630 | |
| Cash, cash equivalents and restricted cash, end of year | $11,488,208 | $54,508 | |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Common share issuance costs included in prepaid expenses and deferred costs | $26,416 | $ | - |
| Allocation of share-based compensation expenses from GoldMining | $54,348 | $60,065 | |
| ARO change in estimates included in camp structures | $(98,434) | $ | - |
The accompanying notes are an integral part of these consolidated financial statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.