You missed a partial claim writedownQC Chibougamau Vanadium Prospects
During the year ended January 31, 2020, the Company decided not to continue with 12 mineral claims and allowed them to lapse when they became due. Accordingly, prior acquisition costs of $769 and exploration costs of $14,710 associated with these claims had been written off during the period. As of January 31, 2020, the Company had incurred a total of $89,382 in exploration costs on this property.
Management anticipates that additional funds will need to be raised, through equity financings, shareholder loans, or otherwise, to fund further work programs on this property. Although the Company has secured financings in the past, there is no assurance that the Company will be able to do so in the future on terms that are favorable or at all.