RE:Interim financial statements From the financial statements.
The ability of the Company to continue as a going concern depends upon its ability to develop profitable operations and to continue to raise adequate financing. As at June 30, 2023, the Company had an accumulated deficit of $215,594,265 and shareholders' equity of $58,053,036. In addition, the Company has working capital of $37,348,808, consisting primarily of cash, and negative cash flow from operating activities of $49,218,579 for the six months ended June 30, 2023. Management is actively targeting sources of additional financing through alliances with financial, exploration and mining entities, or other business and financial transactions which would assure continuation of the Company's operations and exploration programs. In order for the Company to meet its liabilities as they come due and to continue its operations, the Company is solely dependent upon its ability to generate such financing. These items give rise to material uncertainties which may cast a significant doubt on the Company's ability to continue as a going concern.