The MD&A management prepared and reviewed and approved by the Board of Directors on August 26, 2022. Our audited annual financial statements for the six months ended June 30, 2022, and information for the year ended December 31, 2021. They are presented in addition to, but not part of, the financial statements. This discussion includes the six months between June 30, 2022, and then August 26, 2022, the date of issuance of this MD&A. All figures below, unless otherwise noted, are in Canadian dollars.
2. Forward-Looking statements
This MD&A contains certain forward-looking statements or information that require Canadian securities laws. All statements and information, other than historical facts, incorporated or incorporated into this MD&A report are forward-looking statements, including, but not limited to, statements about actions, events, or developments that we expect or anticipate. … . it may happen in the future. These forward-looking statements and information may be characterized by the use of forward-looking words such as “will”, “expects”, “intends”, “plans”, “estimates”, “expects” and “believes”.
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This information is valid as of today’s management announcement. The Company undertakes no obligation to revise or update any information available after the date of this Agreement or to reflect the development of future events, except under applicable securities laws or as required by the TSX-5. translation
3. The Company
The principal business of Firefox Gold Corporation (“Firefox” or the “Company”) is engaged in the exploration and development of mineral deposits in Finland. The Company owns or has the option to acquire several of the domestic exploration targets described on the following page.
Firefox was incorporated on June 16, 2017, as Silver Resources Corporation in British Columbia. The company’s shares were listed on the TSX in December 2018 and traded under the symbol FOX. Firefox is traded on the OTCQB in the United States under the symbol FOXF and on the Frankfurt Stock Exchange under the symbol FIT.
4. Plan of Arrangement
The company is a subsidiary of Anacot Resources Corporation. Pending completion of the settlement on July 28, 2017, the company’s common stock will be distributed to Anacott Restaurants on a pro-rata basis. (“Elephant”).
5. New activity share issue
On April 28, 2021, Firefox completed a private placement under non-media subscription limits, raising approximately $3,000,000 in the aggregate, issuing 16,666,664 units for $0.18 per unit. Each share consists of one share of the company’s common stock and one-half share of the company’s common stock purchase requirements, all of which can purchase one additional share of the company’s common stock at an exercise price of $0.27 per share over two terms. . applies A year from the date of issue. As part of the offering, the Company paid US$67,533 in cash and recommended a dividend of US$312,655 per share at US$0.18 over two years from the date of issue.
4,741,000 warrants were exercised and converted into common shares for the year ended December 31, 2021, netting a total of $687,500. An additional 250,000 requires that the total proceeds of $30,500 received in December 2021 be converted into common shares after December 31, 2021.
During the year ending December 31, 2021, 1,260,000 share options were exercised and converted into common stock for a total consideration of $168,000. An additional 5,000 options will vest in the common stock after December 31, 2021, for a total profit of $500 received by December 2021.
On June 2, 2022, Firefox announced an agreement with Oi Kati from Kalajoki (“Katy”), a leading provider of training services in Finland, to issue 1,056,997 common shares for training services as a payment. At the time of publication, the stock was valued at $0.15, then
6. Property Description
On August 1, 2017, we entered into an option agreement with Magnus Minerals Limited (“Magnus”), a Finnish company, which gives us exclusive rights to Magnus Firefox and Rykonkoski (East and West), Jesio (including Jesio West). ) and Ylojärvi (including Ochs) were located in Finland and owned by Magnus (the “RJY Option Agreement”). After the first signing of the Option Agreement, Magnus authorized RJY to extend the date of the note several times under the Option Agreement. In January 2021, Firefox announced that it was all done with pay by browser and pay by money.
Under the RJY option contract, Firefox complies with the following requirements:
- Issue 6,000,000 shares of common stock to Magnus.
- $3,789,105 RJY property search. currently
- Magnus received $250,000 in cash.
Under the option agreement, RJY agrees to make an additional payment of 1,000 troy ounces of gold to Firefox Magnus within 12 months of the commencement of operations. In addition, Firefox provided Magnus with a royalty of 1.5% of net smelter revenue (NSR) under an RJY option agreement. It can be reduced to 1% by paying Magnus 1,000 troy ounces of gold within 90 days of the publication of the information review. Under an option agreement with RJY, Magnus agreed to provide mineral exploration services to Firefox.
7. Jeesio’s project
The GCO project currently consists of thirteen separate currency blocks that include eight exploration permit applications, one exploration reserve, and four active exploration permits. The total area of organized crime groups is now 146.9 km2.
The northern limit of JCO’s exploration permit application is just 2 km south of Aurion Resources Ltd’s (TSX-V: AU) Aamurusko gold mine (owned by Rist) and 12 km southwest of the Pahtawara gold mine (350,000 hectares). , which now produces ounces. exploration and reconstruction Rupert Resources Limited (TSE: RUP). Some small internships and GCO deposits.
Firefox cautions that proximity to an open pit mine or a historically producing mine does not mean that mineralization will occur on the Firefox property and, if mineralization does occur, sufficient quantity or quality will be produced to be economically viable for mining. These facts are mentioned here to show Firefox’s approach to properties.