PAMPA METALS CORPORATION
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
AS AT JUNE 30, 2023
AND
FOR THE THREE AND SIX MONTHS ENDED
JUNE 30, 2023 AND 2022
Notice to Reader
The accompanying unaudited condensed consolidated interim financial statements of Pampa Metals Corporation have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements as at June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 have not been reviewed by the Company's auditors.
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PAMPA METALS CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited - Expressed in Canadian Dollars)
June 30 | December 31 | |||
As at | 2023 | 2022 | ||
ASSETS | ||||
Current assets | ||||
Cash | $ | 215,300 | $ | 404,633 |
GST Recoverable | 89,646 | 69,884 | ||
Prepaid expenses | 53,577 | 92,720 | ||
Total current assets | 358,523 | 567,237 | ||
Non-current assets | ||||
Equipment | 28,754 | 34,456 | ||
Mineral property interests (Note 3) | 6,918,973 | 4,855,222 | ||
Total non-current assets | 6,947,727 | 4,889,678 | ||
TOTAL ASSETS | $ | 7,306,250 | $ | 5,456,915 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
LIABILITIES | ||||
Current liabilities | ||||
Accounts payable and accrued liabilities (Note 4) | $ | 257,034 | $ | 280,194 |
Total liabilities | 257,034 | 280,194 | ||
SHAREHOLDERS' EQUITY | ||||
Share capital (Note 5) | 14,607,255 | 12,159,947 | ||
Commitment to issue shares (Note 5) | - | 132,825 | ||
Warrant reserve (Note 5) | 1,234,901 | 1,049,260 | ||
Contributed surplus (Note 5) | 1,320,388 | 788,605 | ||
Accumulated deficit | (10,113,328) | (8,953,916) | ||
Total shareholders' equity | 7,049,216 | 5,176,721 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 7,306,250 | $ | 5,456,915 |
Nature of operations and going concern (Note 1)
These condensed consolidated interim financial statements were authorized for issuance by the Board of Directors on August 28, 2023.
Approved by the Board of Directors | |||
"Joseph van den Elsen" | Director | "Adrian Manger" | Director |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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PAMPA METALS CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian Dollars)
Three months | Three months | Six months | Six months | |||||
ended | ended | ended | ended | |||||
June 30 | June 30 | June 30 | June 30 | |||||
2023 | 2022 | 2023 | 2022 | |||||
Expenses | ||||||||
Consulting fees | $ | 4,175 | $ | 217,125 | $ | 4,175 | $ | 227,125 |
Depreciation | 2,851 | 2,527 | 5,703 | 5,144 | ||||
Director and management fees (Note 6) | 90,000 | 175,761 | 180,000 | 329,836 | ||||
General and administration | 50,697 | 61,806 | 131,943 | 85,485 | ||||
Investor relations and communication | 50,497 | 455,004 | 100,527 | 759,089 | ||||
Professional fees (Note 6) | 99,280 | 73,752 | 174,733 | 126,744 | ||||
Share-based compensation (Notes 5 and 6) | 515,403 | 93,520 | 531,783 | 186,012 | ||||
Shareholder information | 13,703 | 24,669 | 27,674 | 40,253 | ||||
826,606 | 1,104,164 | 1,156,538 | 1,759,688 | |||||
Loss before other items | (826,606) | (1,104,164) | (1,156,538) | (1,759,688) | ||||
Other items | ||||||||
Gain on debt settlement (Note 5) | 15,556 | - | 16,556 | - | ||||
Interest income | - | 15 | - | 427 | ||||
Foreign exchange loss | (14,233) | (35,943) | (19,430) | (30,341) | ||||
Loss and comprehensive loss | $ | (825,283) | $ | (1,140,092) | $ | (1,159,412) | $ | (1,789,602) |
Basic and diluted loss per share | $ | (0.01) | $ | (0.02) | $ | (0.02) | $ | (0.04) |
Weighted average number of shares outstanding - basic and diluted | 72,399,116 | 48,587,732 | 65,740,680 | 46,275,269 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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PAMPA METALS CORPORATION
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (Unaudited - Expressed in Canadian Dollars)
Six months | Six months | |||
ended | ended | |||
June 30 | June 30 | |||
2023 | 2022 | |||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Loss for the period | $ | (1,159,412) | $ | (1,789,602) |
Items not affecting cash: | ||||
Share-based compensation | 531,783 | 186,012 | ||
Common shares issued for services | 47,444 | 118,000 | ||
Unrealized foreign exchange effect | (3,056) | - | ||
Depreciation of equipment | 5,703 | 5,144 | ||
Changes in non-cash operating working capital items | ||||
GST Recoverable | (19,762) | (53,144) | ||
Prepaid expenses | 39,143 | (315,122) | ||
Accounts payable and accrued liabilities | (86,835) | 193,740 | ||
Net cash used in operating activities | (644,992) | (1,654,972) | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Expenditures on mineral properties | (1,975,931) | (660,164) | ||
Net cash used in investing activities | (1,975,931) | (660,164) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from issuance of shares, net of share issuance costs | 2,430,180 | 1,618,530 | ||
Net cash provided by financing activities | 2,430,180 | 1,618,530 | ||
Effect of exchange rate changes on cash | 1,410 | - | ||
Change in cash | (189,333) | (696,606) | ||
Cash, beginning | 404,633 | 1,333,960 | ||
Cash, ending | $ | 215,300 | $ | 637,354 |
Non-cash investing an financing activities | ||||
Mineral property interests in accounts payable | $ | 87,820 | $ | - |
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Pampa Metals Corporation published this content on 29 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2023 23:19:13 UTC.