$AVLNF

Avalon Rare Metals Inc.

CIK:0001362898|SEC Filings

Consolidated Statements of Comprehensive Loss - CAD ($)	12 Months Ended
Consolidated Statements of Comprehensive Loss - CAD ($)	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Revenue
Interest	$ 24,787	$ 42,819	$ 61,777
Management fees	109,351	10,204
Total revenue	134,138	53,023	61,777
Expenses
Corporate and administrative	1,828,971	2,415,003	2,724,759
Impairment loss on exploration and evaluation assets	5,587,210	639,034
General exploration	127,353	11,861	17,269
Depreciation	163,292	20,617	18,538
Share based compensation	99,033	78,844	149,286
Interest on lease obligation	43,530
Foreign exchange loss	622	1,435	2,705
Financing transaction costs		177,503	634,912
Increase in fair value of convertible redeemable preferred shares	39,375	376,688	535,500
Increase (Decrease) in fair value of derivative liabilities	32,758	(126,951)	(562,216)
Total Expenses	7,922,144	3,594,034	3,520,753
Net Loss before the Undernoted item	(7,788,006)	(3,541,011)	(3,458,976)
Gain on Sale of Property, Plant and Equipment	2,373,261
Net Loss before Income Taxes	(5,414,745)	(3,541,011)	(3,458,976)
Deferred Income Tax Recoveries	47,481	154,676	218,232
Net Loss and Total Comprehensive Loss for the year	$ (5,367,264)	$ (3,386,335)	$ (3,240,744)
Loss per Share - Basic and Diluted (in dollars per share)	$ (0.016)	$ (0.012)	$ (0.015)
Weighted Average Number of Common Shares Outstanding - Basic and Diluted (in shares)	334,332,582	275,760,316	215,152,381

Consolidated Statements of Cash Flows - CAD ($)	12 Months Ended
Consolidated Statements of Cash Flows - CAD ($)	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2018
Operating Activities
Cash paid to employees	$ (1,399,003)	$ (1,159,131)	$ (1,381,833)
Cash paid to suppliers	(661,150)	(1,165,017)	(1,262,306)
Interest received	24,787	42,819	61,777
Management fees received	114,742
Cash Used by Operating Activities	(1,920,624)	(2,281,329)	(2,582,362)
Financing Activities
Net proceeds from equity offerings	507,100	955,379	2,025,843
Net proceeds from issuance of preferred shares			2,084,792
Net proceeds from issuance of note payable		466,696
Proceeds from exercise of warrants		120,000
Proceeds from exercise of stock options		20,000	5,500
Proceeds from exercise of brokers' compensation warrants			33,000
Lease payments	(207,063)
Cash Provided by Financing Activities	300,037	1,562,075	4,149,135
Investing Activities
Exploration and evaluation assets	(713,783)	(766,825)	(2,041,084)
Property, plant and equipment	(29,534)	(149,702)	(277,501)
Net proceeds from sale of property, plant and equipment	1,778,408	3,200,000
Cash Provided (Used) by Investing Activities	1,035,091	2,283,473	(2,318,585)
Change in Cash and Cash Equivalents	(585,496)	1,564,219	(751,812)
Foreign Exchange Effect on Cash	(622)	(1,435)	(2,705)
Cash and Cash Equivalents - beginning of year	1,881,841	319,057	1,073,574
Cash and Cash Equivalents - end of year	$ 1,295,723	$ 1,881,841	$ 319,057

Consolidated Statements of Financial Position - CAD ($)	Aug. 31, 2020	Aug. 31, 2019
Current Assets
Cash and cash equivalents	$ 1,295,723	$ 1,881,841
Other receivables	263,141	337,573
Prepaid expenses and deposits	118,536	140,720
Asset held for sale		2,605,147
Total Current Assets	1,677,400	4,965,281
Non-Current Assets
Exploration and evaluation assets	12,083,199	17,065,203
Property, plant and equipment	102,836,885	101,981,838
Total Non-Current Assets	114,920,084	119,047,041
Total Assets	116,597,484	124,012,322
Current Liabilities
Accounts payable	153,743	151,318
Accrued liabilities	574,383	922,474
Deferred flow-through share premium	136,800	47,481
Deferred asset sale proceeds		3,200,000
Current portion of lease obligation	178,893
Total Current Liabilities	1,043,819	4,321,273
Non-Current Liabilities
Lease obligation	688,574
Convertible note payable		175,000
Convertible redeemable preferred shares		958,125
Derivative liabilities	59,827	27,069
Site closure and reclamation provisions	303,600	303,600
Total Non-current Liabilities	1,052,001	1,463,794
Total Liabilities	2,095,820	5,785,067
Shareholders' Equity
Share Capital	179,329,547	177,802,700
Reserve for Warrants	4,336,481	4,330,037
Reserve for Share Based Payments	17,333,864	17,225,482
Reserve for Brokers' Compensation Warrants	286,000	286,000
Accumulated Deficit	(86,784,228)	(81,416,964)
Total Shareholders Equity	114,501,664	118,227,255
Total Liabilities and Shareholders Equity	$ 116,597,484	$ 124,012,322