|
Net Income
|
|
—
|
($1.5m)
|
($30.3m)
|
($49.8m)
|
($68.5m)
|
|
Net Income From Continuing Operations
|
|
—
|
($2.2m)
|
($32.4m)
|
($50.6m)
|
($68.7m)
|
|
Depreciation
|
|
$22.5m
|
$23.3m
|
$29.2m
|
$28.7m
|
$22.0m
|
|
Depreciation Amortization Depletion
|
|
—
|
$23.3m
|
$29.2m
|
$28.7m
|
$22.0m
|
|
Deferred income tax expense (recovery)
|
|
$3.8m
|
($1.4m)
|
($2.8m)
|
($17.9m)
|
$17.1m
|
|
Deferred Income Tax
|
|
—
|
$6.3m
|
($2.7m)
|
($20.7m)
|
$17.1m
|
|
Deferred Tax
|
|
—
|
$6.3m
|
($2.7m)
|
($20.7m)
|
$17.1m
|
|
Share-based payments
|
|
$3.1m
|
$2.4m
|
($362k)
|
$1.3m
|
$2.3m
|
|
Asset Impairment Charge
|
|
—
|
$0
|
$8.9m
|
$19.6m
|
$21.0m
|
|
Earnings (Loss)es From Equity Investments
|
|
—
|
—
|
—
|
$0
|
$6.2m
|
|
Net loss for the year
|
|
$22.6m
|
($2.2m)
|
($32.4m)
|
($50.6m)
|
($68.7m)
|
|
Unrealized foreign exchange (gain) loss
|
|
$324k
|
($4.6m)
|
($509k)
|
$12.1m
|
($10.1m)
|
|
Finance costs
|
|
$1.1m
|
$1.6m
|
$9.6m
|
$9.5m
|
$13.1m
|
|
Interest income
|
|
($403k)
|
($1.1m)
|
($2.0m)
|
($1.5m)
|
($283k)
|
|
Write-down of inventory
|
|
—
|
—
|
$4.1m
|
$18.5m
|
$21.3m
|
|
Derecognition of PPE
|
|
—
|
—
|
$0
|
$1.1m
|
$0
|
|
Write-down of vanadium assets
|
|
—
|
$0
|
$4.9m
|
$1.1m
|
($294k)
|
|
Income tax recovery
|
|
$5.4m
|
$7.7m
|
$88k
|
($2.8m)
|
$0
|
|
Gain on disposal of interest in subsidiary
|
|
—
|
—
|
—
|
$0
|
($5.2m)
|
|
Share of net loss from associate
|
|
—
|
—
|
—
|
$0
|
$6.2m
|
|
Cash (Used) Provided Before Working Capital Items
|
|
$55.4m
|
$21.4m
|
$5.3m
|
$3.2m
|
($2.8m)
|
|
Change in amounts receivable
|
|
($5.4m)
|
$3.6m
|
($3.9m)
|
$14.1m
|
($595k)
|
|
Change in inventory
|
|
($11.0m)
|
($15.7m)
|
$5.4m
|
($5.8m)
|
($15.7m)
|
|
Revenues subject to refund
|
|
—
|
—
|
$0
|
$13.6m
|
$8.9m
|
|
Inventory subject to return
|
|
—
|
—
|
—
|
($12.8m)
|
($7.2m)
|
|
Change in prepaid expenses
|
|
($3.2m)
|
($7.2m)
|
$8.0m
|
($278k)
|
($1.1m)
|
|
Changes in accounts payable and provisions
|
|
$1.8m
|
$5.2m
|
$4.6m
|
($383k)
|
$8.6m
|
|
Change in deferred revenue
|
|
$2.2m
|
($3.8m)
|
$1.9m
|
$336k
|
($352k)
|
|
Receipt of debt
|
|
$15.0m
|
$55.0m
|
$70.0m
|
$44.4m
|
$107.0m
|
|
Interest received
|
|
$403k
|
$1.1m
|
$2.0m
|
$1.5m
|
$259k
|
|
Lease payments
|
|
($230k)
|
($569k)
|
($580k)
|
($600k)
|
$0
|
|
Share and warrant issuance
|
|
$3.2m
|
$277k
|
$0
|
$0
|
$21.7m
|
|
Mine properties, plant and equipment
|
|
($27.4m)
|
($42.2m)
|
($53.5m)
|
($42.2m)
|
($27.4m)
|
|
Disposal of interest in subsidiary
|
|
—
|
—
|
—
|
$0
|
$1.0m
|
|
Effect of foreign exchange on cash
|
|
($831k)
|
$933k
|
$804k
|
($1.6m)
|
$378k
|
|
Net Change in Cash
|
|
$4.6m
|
($29.3m)
|
($11.8m)
|
($20.6m)
|
($12.4m)
|
|
Cash position - beginning of the year
|
|
$83.8m
|
$54.5m
|
$42.7m
|
$22.1m
|
$9.7m
|
|
Beginning Cash Position
|
|
—
|
$83.8m
|
$54.5m
|
$42.7m
|
$22.1m
|
|
Cash Flow From Continuing Financing Activities
|
|
—
|
$26.4m
|
$29.1m
|
$12.0m
|
$23.9m
|
|
Cash Flow From Continuing Investing Activities
|
|
—
|
($60.1m)
|
($62.9m)
|
($42.2m)
|
($26.4m)
|
|
Change In Account Payable
|
|
—
|
$5.2m
|
$4.6m
|
($383k)
|
$8.6m
|
|
Change In Other Working Capital
|
|
—
|
($3.8m)
|
$1.9m
|
$336k
|
($352k)
|
|
Change In Payable
|
|
—
|
$5.2m
|
$4.6m
|
($383k)
|
$8.6m
|
|
Change In Payables And Accrued Expense
|
|
—
|
$5.2m
|
$4.6m
|
($383k)
|
$8.6m
|
|
Change In Prepaid Assets
|
|
—
|
($7.2m)
|
$8.0m
|
($278k)
|
($1.1m)
|
|
Change In Receivables
|
|
—
|
$3.6m
|
($3.9m)
|
$14.1m
|
($595k)
|
|
Change In Working Capital
|
|
—
|
($18.0m)
|
$11.9m
|
$7.9m
|
($9.1m)
|
|
Changes In Cash
|
|
—
|
($30.3m)
|
($12.6m)
|
($19.0m)
|
($12.8m)
|
|
End Cash Position
|
|
—
|
$54.5m
|
$42.7m
|
$22.1m
|
$9.7m
|
|
Financing Cash Flow
|
|
—
|
$26.4m
|
$29.1m
|
$12.0m
|
$23.9m
|
|
Free Cash Flow
|
|
—
|
($42.2m)
|
($32.5m)
|
($31.1m)
|
($37.7m)
|
|
Gain Loss On Sale Of Business
|
|
—
|
—
|
—
|
$0
|
($5.2m)
|
|
Gain Loss On Sale Of PPE
|
|
—
|
$0
|
$0
|
$1.1m
|
$0
|
|
Interest Received CFI
|
|
—
|
—
|
—
|
$0
|
$1.0m
|
|
Investing Cash Flow
|
|
—
|
($60.1m)
|
($62.9m)
|
($42.2m)
|
($26.4m)
|
|
Issuance Of Capital Stock
|
|
—
|
$277k
|
$0
|
$0
|
$21.7m
|
|
Net Foreign Currency Exchange Gain Loss
|
|
—
|
($4.6m)
|
($509k)
|
$12.1m
|
($10.1m)
|
|
Net Intangibles Purchase And Sale
|
|
$0
|
($3.4m)
|
($157k)
|
$0
|
—
|
|
Net PPE Purchase And Sale
|
|
—
|
($42.2m)
|
($53.5m)
|
($42.2m)
|
($27.4m)
|
|
Operating Gains Losses
|
|
—
|
($4.6m)
|
($353k)
|
$13.2m
|
($9.1m)
|
|
Other Non Cash Items
|
|
—
|
$1.1m
|
$7.6m
|
$8.8m
|
$14.6m
|
|
Provisionand Write Offof Assets
|
|
—
|
($58k)
|
$0
|
—
|
—
|
|
Purchase Of Intangibles
|
|
$0
|
($3.4m)
|
($157k)
|
—
|
—
|
|
Repurchase Of Capital Stock
|
|
$0
|
($6.1m)
|
$0
|
—
|
—
|
|
Stock Based Compensation
|
|
—
|
$2.4m
|
($362k)
|
$1.3m
|
$2.3m
|
|
Net Cash (Used in) Provided by Operating Activities
|
|
$39.8m
|
$3.5m
|
$21.2m
|
$11.2m
|
($10.2m)
|
|
Capital Expenditure
|
|
$27.4m
|
($45.6m)
|
($53.7m)
|
($42.2m)
|
($27.4m)
|
|
Net Other Investing Changes
|
|
—
|
($14.5m)
|
($9.2m)
|
—
|
—
|
|
Net Cash Used in Investing Activities
|
|
($27.4m)
|
($60.1m)
|
($62.9m)
|
($42.2m)
|
($26.4m)
|
|
Issuance Of Debt
|
|
—
|
$55.0m
|
$70.0m
|
$44.4m
|
$107.0m
|
|
Net Issuance Payments Of Debt
|
|
—
|
$24.4m
|
$34.4m
|
$16.7m
|
$14.8m
|
|
Net Long Term Debt Issuance
|
|
—
|
($569k)
|
($580k)
|
($600k)
|
$0
|
|
Net Short Term Debt Issuance
|
|
—
|
$25.0m
|
$35.0m
|
$17.3m
|
$14.8m
|
|
Short Term Debt Issuance
|
|
—
|
$55.0m
|
$70.0m
|
$44.4m
|
$107.0m
|
|
Repayment of debt
|
|
($24.8m)
|
($30.0m)
|
($35.0m)
|
($27.1m)
|
($92.2m)
|
|
Long Term Debt Payments
|
|
—
|
($569k)
|
($580k)
|
($600k)
|
$0
|
|
Short Term Debt Payments
|
|
—
|
($30.0m)
|
($35.0m)
|
($27.1m)
|
($92.2m)
|
|
Common Stock Issuance
|
|
—
|
$277k
|
$0
|
$0
|
$21.7m
|
|
Net Common Stock Issuance
|
|
—
|
($5.8m)
|
$0
|
$0
|
$21.7m
|
|
Common Stock Payments
|
|
$0
|
($6.1m)
|
$0
|
—
|
—
|
|
Cash Dividends Paid
|
|
—
|
$0
|
$0
|
$0
|
$0
|
|
Net Other Financing Charges
|
|
—
|
$8.4m
|
$1.8m
|
$1.7m
|
$407k
|
|
Net Cash Provided by Financing Activities
|
|
($6.9m)
|
$26.4m
|
$29.1m
|
$12.0m
|
$23.9m
|
|
Effect Of Exchange Rate Changes
|
|
—
|
$933k
|
$804k
|
($1.6m)
|
$378k
|
|
Change in restricted cash
|
|
($448k)
|
($22k)
|
($242k)
|
$182k
|
$148k
|
|
Change In Cash Supplemental As Reported
|
|
—
|
($29.3m)
|
($11.8m)
|
($20.6m)
|
($12.4m)
|
|
Interest and finance costs paid
|
|
$0
|
($616k)
|
($7.1m)
|
($6.3m)
|
($13.0m)
|
|
Income tax refund (paid)
|
|
($3.1m)
|
($4.7m)
|
($686k)
|
$2.9m
|
($181k)
|