ARGENTEX MINING CORP

CIK:0001167887|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	12 Months Ended
	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2013
Expenses
Consulting	$ 395,531	$ 651,776	$ 941,385
Depreciation	60,040us-gaap_Depreciation	61,414us-gaap_Depreciation	65,760us-gaap_Depreciation
Director fees	27,245us-gaap_NoninterestExpenseDirectorsFees	93,727us-gaap_NoninterestExpenseDirectorsFees	225,797us-gaap_NoninterestExpenseDirectorsFees
Foreign exchange loss (gain)	32,004	283,632	(108,848)
Mineral property interests	485,904agxm_MineralPropertyInterests	1,642,510agxm_MineralPropertyInterests	5,147,673agxm_MineralPropertyInterests
Office and sundry	53,461us-gaap_GeneralAndAdministrativeExpense	103,011us-gaap_GeneralAndAdministrativeExpense	141,473us-gaap_GeneralAndAdministrativeExpense
Professional	162,134us-gaap_ProfessionalFees	459,604us-gaap_ProfessionalFees	420,027us-gaap_ProfessionalFees
Rent	52,524us-gaap_LeaseAndRentalExpense	45,168us-gaap_LeaseAndRentalExpense	43,925us-gaap_LeaseAndRentalExpense
Salaries and benefits	295,859us-gaap_SalariesAndWages	372,806us-gaap_SalariesAndWages	543,256us-gaap_SalariesAndWages
Shareholder and investor relations	29,158agxm_InvestorRelations	90,002agxm_InvestorRelations	248,868agxm_InvestorRelations
Tax on Argentine bank transactions and on assets	18,852us-gaap_TaxesOther	56,109us-gaap_TaxesOther	74,469us-gaap_TaxesOther
Transfer agent and filing	31,412us-gaap_OtherGeneralExpense	79,046us-gaap_OtherGeneralExpense	53,351us-gaap_OtherGeneralExpense
Travel	22,607us-gaap_TravelAndEntertainmentExpense	56,788us-gaap_TravelAndEntertainmentExpense	172,929us-gaap_TravelAndEntertainmentExpense
Loss before other items	(1,666,731)us-gaap_OperatingIncomeLoss	(3,995,593)us-gaap_OperatingIncomeLoss	(7,970,065)us-gaap_OperatingIncomeLoss
Interest income	3,316us-gaap_InvestmentIncomeInterest	57,275us-gaap_InvestmentIncomeInterest	65,562us-gaap_InvestmentIncomeInterest
Miscellaneous income	17,097us-gaap_OtherNonoperatingIncome	27,271us-gaap_OtherNonoperatingIncome	0us-gaap_OtherNonoperatingIncome
Gain on short-term investments	61,439us-gaap_GainLossOnInvestments	0us-gaap_GainLossOnInvestments	0us-gaap_GainLossOnInvestments
Interest expense	(38,972)us-gaap_InterestExpense	(38,254)us-gaap_InterestExpense	(1,328)us-gaap_InterestExpense
Net loss for the year before income taxes	(1,623,851)	(3,949,301)	(7,905,831)
Income tax expense	(31,373)us-gaap_IncomeTaxExpenseBenefit	(14,189)us-gaap_IncomeTaxExpenseBenefit	(22,119)us-gaap_IncomeTaxExpenseBenefit
Net loss for the year	(1,655,224)us-gaap_NetIncomeLoss	(3,963,490)us-gaap_NetIncomeLoss	(7,927,950)us-gaap_NetIncomeLoss
Other comprehensive loss
Unrealized loss on foreign exchange translation	(20,282)	(18,689)	(44,182)
Comprehensive loss for the year	$ (1,675,506)us-gaap_ComprehensiveIncomeNetOfTax	$ (3,982,179)us-gaap_ComprehensiveIncomeNetOfTax	$ (7,972,132)us-gaap_ComprehensiveIncomeNetOfTax
Net loss per share - basic and diluted	$ (0.02)us-gaap_EarningsPerShareBasicAndDiluted	$ (0.05)us-gaap_EarningsPerShareBasicAndDiluted	$ (0.11)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average number of shares outstanding - basic and diluted	88,860,773	79,524,172	71,669,755

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Jan. 31, 2015	Jan. 31, 2014	Jan. 31, 2013
Cash flows used in operating activities
Net loss for the year	$ (1,655,224)us-gaap_NetIncomeLoss	$ (3,963,490)us-gaap_NetIncomeLoss	$ (7,927,950)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	60,040us-gaap_Depreciation	61,414us-gaap_Depreciation	65,760us-gaap_Depreciation
Gain on sale of short-term investments	(22,457)us-gaap_GainLossOnSaleOfInvestments	0us-gaap_GainLossOnSaleOfInvestments	0us-gaap_GainLossOnSaleOfInvestments
Miscellaneous income	(17,097)us-gaap_OtherNonoperatingIncome	(27,271)us-gaap_OtherNonoperatingIncome	0us-gaap_OtherNonoperatingIncome
Non-cash interest and penalties	22,984agxm_NonCashInterest	32,697agxm_NonCashInterest	0agxm_NonCashInterest
Stock-based compensation	0us-gaap_ShareBasedCompensation	948us-gaap_ShareBasedCompensation	883,210us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities
Receivables	(610)us-gaap_IncreaseDecreaseInReceivables	29,119us-gaap_IncreaseDecreaseInReceivables	33,736us-gaap_IncreaseDecreaseInReceivables
Prepaid expenses and deposits	3,540	11,770	12,228
Accounts payable and accrued liabilities	(119,607)	(194,335)	(180,439)
Due to (from) related parties	(67,900)	70,171	(14,786)
Net cash used in operating activities	(1,796,331)	(3,978,977)	(7,128,241)
Cash flows used in investing activities
Issuance of loan	0us-gaap_PaymentsOfStockIssuanceCosts	(2,300,000)us-gaap_PaymentsOfStockIssuanceCosts	0us-gaap_PaymentsOfStockIssuanceCosts
Receipt of loan repayment and applicable taxes	277,097	2,067,271	0
Purchase of short-term investments	(875,655)	0	0
Proceeds on sale of short-term investments	403,730	0	0
Acquisition of equipment	(972)	(6,197)	(38,899)
Net cash used in investing activities	(195,800)	(238,926)	(38,899)
Cash flows from financing activities
Proceeds from issuance of convertible debentures	0us-gaap_ProceedsFromConvertibleDebt	2,300,000us-gaap_ProceedsFromConvertibleDebt	0us-gaap_ProceedsFromConvertibleDebt
Proceeds from issuance of capital stock and warrants	0	2,433,147	81,600
Net cash provided by financing activities	0	4,733,147	81,600
Effects of foreign currency exchange	(32,910)	(16,420)	(46,625)
(Decrease) increase in cash during the year	(2,025,041)	498,824	(7,132,165)
Cash and cash equivalents, beginning of year	2,615,966	2,117,142	9,249,307
Cash and cash equivalents, end of year	590,925	2,615,966	2,117,142
Supplemental disclosures
Taxes	83,527us-gaap_IncomeTaxesPaid	98,183us-gaap_IncomeTaxesPaid	109,819us-gaap_IncomeTaxesPaid
Interest	(15,777)us-gaap_InterestPaid	(52,622)us-gaap_InterestPaid	(69,513)us-gaap_InterestPaid
Non-cash financing transactions
Conversion of convertible debenture into common stock	$ 230,893	$ 1,655,224	$ 0

CONSOLIDATED BALANCE SHEETS(USD ($))	Jan. 31, 2015	Jan. 31, 2014
Current assets
Cash and cash equivalents	$ 590,925	$ 2,615,966
Short-term investments	477,606us-gaap_ShortTermInvestments	0us-gaap_ShortTermInvestments
Receivables	4,848us-gaap_ReceivablesNetCurrent	4,238us-gaap_ReceivablesNetCurrent
Prepaid expenses and deposits	41,647us-gaap_PrepaidExpenseCurrent	45,187us-gaap_PrepaidExpenseCurrent
Loan receivable	0us-gaap_OtherReceivablesNetCurrent	260,000us-gaap_OtherReceivablesNetCurrent
Total current assets	1,115,026us-gaap_AssetsCurrent	2,925,391us-gaap_AssetsCurrent
Property and equipment	307,022us-gaap_PropertyPlantAndEquipmentNet	366,090us-gaap_PropertyPlantAndEquipmentNet
Mineral property interest	815,000us-gaap_MineralRights	815,000us-gaap_MineralRights
Total assets	2,237,048us-gaap_Assets	4,106,481us-gaap_Assets
Current liabilities
Accounts payable and accrued liabilities	127,696	247,303
Due to related parties	15,910us-gaap_DueToRelatedPartiesCurrent	83,810us-gaap_DueToRelatedPartiesCurrent
Total current liabilities	143,606us-gaap_LiabilitiesCurrent	331,113us-gaap_LiabilitiesCurrent
Long term debt	28,546us-gaap_LongTermDebtNoncurrent	34,966us-gaap_LongTermDebtNoncurrent
Total liabilities	172,152us-gaap_Liabilities	366,079us-gaap_Liabilities
Stockholders' equity
Preferred stock, no par value, unlimited authorized, nil shares issued and outstanding	0us-gaap_PreferredStockValue	0us-gaap_PreferredStockValue
Common stock, no par value, unlimited authorized Share capital-88,941,317 and 87,992,975 issued and outstanding	39,236,683us-gaap_CommonStockValue	39,005,790us-gaap_CommonStockValue
Additional paid-in capital	7,679,696us-gaap_AdditionalPaidInCapital	7,910,589us-gaap_AdditionalPaidInCapital
Accumulated deficit	(44,788,174)	(43,132,950)
Accumulated other comprehensive loss	(63,309)	(43,027)
Total stockholders' equity	2,064,896us-gaap_StockholdersEquity	3,740,402us-gaap_StockholdersEquity
Total liabilities and stockholders' equity	$ 2,237,048	$ 4,106,481