Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. HANDENI GOLD INC. (1297223) 10-Q published on Apr 11, 2017 at 5:04 pm
An enlargement of the “excluded area” as delineated on Fig. 2a is presented below (Fig. 3a). An area within the outline of the 32 PML’s without a PML number (Fig. 3) has now been confirmed to be part of PL6743/2010. The block of 32 PMLs, shown in grey (Fig. 3a) is part of an on-going exploration program. As a result of completed exploration the decision was taken to relinquish four of the north-eastern most of the pml’s (Fig. 3b). More of the pml’s will most likely be relinquished in future.
interest expenses increased by $16,000 to $56,000 during the three months ended February 28, 2017 (three months ended February 29, 2016 - $40,000), which represented deemed interest on increased interest free unsecured loans from related parties as well as increased deemed interest rate. Such deemed interest was recorded as donated capital;
our professional fees decreased by $12,000 to $8,000 during the three months ended February 28, 2017 (three months ended February 29, 2016 - $20,000) primarily due to decreased legal fees;
our consulting, general and administrative fees decreased by $10,000 to $128,000 during the period ended February 28, 2017 (the nine months ended February 29, 2016 - $138,000), primarily due to fund limitation and continuing general and administrative cost management;
our exploration expenses decreased by $34,000 to $88,000 during the nine months ended February 28, 2017 (nine months ended February 29, 2016 - $122,000). Some of PLs annual fees payments were reduced due to some of PLs area were relinquished following licenses renewal; also, our funding limitations caused our reduced exploration activities;
our rent expenses decreased by $11,000 to $27,000 during the nine months ended February 28, 2017 (the nine months ended February 29, 2016 - $38,000) mainly due to our fund limitation which caused our Tanzania and Canadian office space limitation; Included in the rent for the nine months ended February 28, 2017, there was $26,400 (the nine months ended February 29, 2016: $36,000) representing 60% of the rental expense associated with renting our CEO’s family house in Tanzania;