40-F Filing

GOLD RESERVE LTD CIK: 1072725 FY 2020

Filing Information

Form Type	40-F
Accession Number	`0001072725-21-000016`
Period End Date	20201231
Filing Date	20210408
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	gdrzfform40fex992040821_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 40 Cash Flow Statement 42 Stockholders Equity 10

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.40M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.40M	shares	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$147.65M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time
Marketable securities (Note 5)	`MarketableSecurities`	$177.94K	USD	Point-in-time
Marketable securities (Note 5)	`MarketableSecurities`	$83.58K	USD	Point-in-time
Income tax receivable (Note 10)	`IncomeTaxReceivable`	$8.68M	USD	Point-in-time
Income tax receivable (Note 10)	`IncomeTaxReceivable`	$10.80M	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$747.87K	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$573.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$73.55M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$2.51M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$6.47M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$251.98K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$165.58K	USD	Point-in-time
Total assets	`Assets`	$80.27M	USD	Point-in-time
Total assets	`Assets`	$69.44M	USD	Point-in-time
Accounts payable and accrued expenses (Note 3)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$780.92K	USD	Point-in-time
Accounts payable and accrued expenses (Note 3)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$728.79K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	$92.82K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	$85.52K	USD	Point-in-time
Contingent value rights (Note 3)	`AccruedContingentValueRights`	-	USD	Point-in-time
Contingent value rights (Note 3)	`AccruedContingentValueRights`	$60.24K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$933.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$814.31K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$77.09K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$169.91K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$984.22K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common shares (Note 11)	`CommonStockValue`	$302.47M	USD	Point-in-time
Common shares (Note 11)	`CommonStockValue`	$302.47M	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapitalCommonStock`	$20.63M	USD	Point-in-time
Contributed surplus	`AdditionalPaidInCapitalCommonStock`	$20.63M	USD	Point-in-time
Stock options (Note 9)	`AccumulatedStockOptionExpense`	$21.41M	USD	Point-in-time
Stock options (Note 9)	`AccumulatedStockOptionExpense`	$20.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-276.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-264.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$79.28M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$68.42M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$80.27M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$69.44M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InvestmentIncomeInterest`	$294.28K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.29M	USD	Annual
Loss on disposition of property, plant and equipment (Note 6)	`GainLossOnDispositionOfAssets`	$-30.48K	USD	Annual
Loss on disposition of property, plant and equipment (Note 6)	`GainLossOnDispositionOfAssets`	-	USD	Annual
Gain (loss) on marketable equity securities	`GainLossOnInvestments`	$5.76K	USD	Annual
Gain (loss) on marketable equity securities	`GainLossOnInvestments`	$-109.69K	USD	Annual
Foreign currency gain	`ForeignCurrencyGainLoss`	$24.10K	USD	Annual
Foreign currency gain	`ForeignCurrencyGainLoss`	$418.88K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$293.66K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$1.60M	USD	Annual
Corporate general and administrative (Notes 3 and 9)	`GeneralAndAdministrativeExpense`	$5.15M	USD	Annual
Corporate general and administrative (Notes 3 and 9)	`GeneralAndAdministrativeExpense`	$5.31M	USD	Annual
Contingent value rights (Note 3)	`ContingentValueRights`	$262.55K	USD	Annual
Contingent value rights (Note 3)	`ContingentValueRights`	$59.55K	USD	Annual
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$5.19M	USD	Annual
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$1.57M	USD	Annual
Write-down of property, plant and equipment (Note 6)	`WritedownOfPPE`	$6.07M	USD	Annual
Write-down of property, plant and equipment (Note 6)	`WritedownOfPPE`	$3.75M	USD	Annual
Exploration costs	`ExplorationExpense`	$73.68K	USD	Annual
Exploration costs	`ExplorationExpense`	$36.08K	USD	Annual
Legal and accounting	`LegalAndAccounting`	$698.81K	USD	Annual
Legal and accounting	`LegalAndAccounting`	$1.39M	USD	Annual
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$406.34K	USD	Annual
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$1.13M	USD	Annual
Equipment holding costs	`EquipmentHoldingCosts`	$437.56K	USD	Annual
Equipment holding costs	`EquipmentHoldingCosts`	$470.36K	USD	Annual
Total Expense	`OperatingCostsAndExpenses`	$12.90M	USD	Annual
Total Expense	`OperatingCostsAndExpenses`	$19.09M	USD	Annual
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.61M	USD	Annual
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-17.49M	USD	Annual
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	$-1.09M	USD	Annual
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	$-4.35M	USD	Annual
Net loss and comprehensive loss for the year	`NetIncomeLoss`	$-13.15M	USD	Annual
Net loss and comprehensive loss for the year	`NetIncomeLoss`	$-11.52M	USD	Annual
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.13	USD	Annual
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.12	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	99.40M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	99.40M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	99.40M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	99.40M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss for the year	`ProfitLoss`	$-13.15M	USD	Annual
Net loss for the year	`ProfitLoss`	$-11.52M	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$656.77K	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$31.04K	USD	Annual
Depreciation	`Depreciation`	$124.27K	USD	Annual
Depreciation	`Depreciation`	$131.59K	USD	Annual
Write-down of property, plant and equipment	`WritedownOfPropertyPlantAndEquipment`	$3.75M	USD	Annual
Write-down of property, plant and equipment	`WritedownOfPropertyPlantAndEquipment`	$6.07M	USD	Annual
Loss on disposition of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$30.48K	USD	Annual
Loss on disposition of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Loss (gain) on marketable equity securities	`MarketableSecuritiesGainLoss`	$-5.76K	USD	Annual
Loss (gain) on marketable equity securities	`MarketableSecuritiesGainLoss`	$109.69K	USD	Annual
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	$-1.09M	USD	Annual
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	$-4.35M	USD	Annual
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.20M	USD	Annual
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	Annual
Net decrease (increase) in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$860.83K	USD	Annual
Net decrease (increase) in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$174.46K	USD	Annual
Net increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$113.27K	USD	Annual
Net increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.71K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.27M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.56M	USD	Annual
Proceeds from disposition of marketable equity securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Proceeds from disposition of marketable equity securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$100.13K	USD	Annual
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$98.65K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.01K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.75K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$152.02K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.01K	USD	Annual
Return of capital	`ReturnOfCapital`	$-75.54M	USD	Annual
Return of capital	`ReturnOfCapital`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-75.54M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.41M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-85.82M	USD	Annual
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$147.65M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$147.65M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$79.28M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$68.42M	USD	Point-in-time
Net loss for the year	`ProfitLoss`	$-13.15M	USD	Annual
Net loss for the year	`ProfitLoss`	$-11.52M	USD	Annual
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$656.77K	USD	Annual
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$31.04K	USD	Annual
Return of capital (Note 11)	`ReturnOfCapital`	$-75.54M	USD	Annual
Return of capital (Note 11)	`ReturnOfCapital`	-	USD	Annual
Ending balance, value	`StockholdersEquity`	$79.28M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$68.42M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.