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Consolidated Statements of Cash Flows (CAD)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities      
Net income (loss) for the year 2,062,728 (3,584,601) (4,452,428)
Items not affecting cash:      
Amortization and depreciation 125,015 160,478 164,065
Stock-based compensation expense 265,000 344,800 577,815
Accretion of asset retirement obligation 3,860 3,509 4,092
Change in fair value of derivative instruments [note 12] (168,143)      
Asset retirement obligations paid       (902)
Loss on sale of property       1,074
Total non-cash items 225,732 508,787 746,144
Total before working capital changes 2,288,460 (3,075,814) (3,706,284)
Changes in non-cash working capital balances [note 14] (1,495,468) 1,319,299 1,013,508
Net cash generated by (used in) operating activities 792,992 (1,756,515) (2,692,776)
Financing activities      
Repayment of capital lease obligation (8,591) (10,246) (8,681)
Issue of common shares and warrants, net of issue costs 2,886,024 1,487,827   
Exercise of stock options and warrants 326,010 438,900 54,518
Net cash generated by financing activities 3,203,443 1,916,481 45,837
Investing activities      
Purchase of property and equipment (48,553) (38,975) (55,516)
Decrease (increase) in restricted cash (359,234) 27,721 (101,856)
Decrease (increase) in short term investments (45,000) 895,651 (905,651)
Proceeds from sale of property and equipment       400
Net cash generated by (used in) investing activities (452,787) 884,397 (1,062,623)
Net cash inflow (outflow) 3,543,648 1,044,363 (3,709,562)
Cash and cash equivalents, beginning of the year 1,508,946 464,583 4,174,145
Cash and cash equivalents, end of the year 5,052,594 1,508,946 464,583
Supplemental information:      
Cash interest paid (received), net 2,744 (16,353) (9,923)
Cash interest paid 426,421