6-K Filing

GOLD RESERVE LTD CIK: 1072725 Q2 2021

Filing Information

Form Type	6-K
Accession Number	`0001072725-21-000038`
Period End Date	20210630
Filing Date	20210810
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	gdrzfform6kex991081021_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 72 Cash Flow Statement 68 Stockholders Equity 14

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.40M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.55M	shares	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$63.72M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$55.90M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$53.33M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$60.79M	USD	Point-in-time
Marketable securities (Note 5)	`MarketableSecurities`	$126.98K	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`	$8.68M	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$573.41K	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$1.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.76M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$2.37M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$2.51M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$120.61K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$165.58K	USD	Point-in-time
Total assets	`Assets`	$65.78M	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`	$522.89K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	$92.82K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityCurrent`	$96.62K	USD	Point-in-time
Contingent value rights (Note 3)	`AccruedContingentValueRights`	$60.24K	USD	Point-in-time
Contingent value rights (Note 3)	`AccruedContingentValueRights`	$60.24K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$679.76K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$933.99K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$27.82K	USD	Point-in-time
Lease liability	`OperatingLeaseLiabilityNoncurrent`	$77.09K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$707.58K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common shares	`CommonStockValue`	$302.47M	USD	Point-in-time
Common shares	`CommonStockValue`	$302.68M	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`	$21.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-279.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-276.08M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$65.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$68.42M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$69.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$65.78M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InvestmentIncomeInterest`	$16.75K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$258.35K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$6.65K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$56.03K	USD	1 Quarter
Gain on marketable equity securities	`GainLossOnInvestments`	$46.90K	USD	1 Quarter
Gain on marketable equity securities	`GainLossOnInvestments`	$2.17K	USD	2 Qtrs
Gain on marketable equity securities	`GainLossOnInvestments`	$2.40K	USD	1 Quarter
Gain on marketable equity securities	`GainLossOnInvestments`	$43.41K	USD	2 Qtrs
Gain on sale of equipment (Note 6)	`GainLossOnSaleOfPropertyPlantEquipment`	$78.28K	USD	1 Quarter
Gain on sale of equipment (Note 6)	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of equipment (Note 6)	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sale of equipment (Note 6)	`GainLossOnSaleOfPropertyPlantEquipment`	$78.28K	USD	2 Qtrs
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$19.92K	USD	1 Quarter
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$-20.70K	USD	2 Qtrs
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$8.09K	USD	1 Quarter
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$16.39K	USD	2 Qtrs
Total Other Income	`NonoperatingIncomeExpense`	$154.82K	USD	2 Qtrs
Total Other Income	`NonoperatingIncomeExpense`	$122.84K	USD	1 Quarter
Total Other Income	`NonoperatingIncomeExpense`	$95.42K	USD	1 Quarter
Total Other Income	`NonoperatingIncomeExpense`	$239.81K	USD	2 Qtrs
Corporate general and administrative (Note 3)	`GeneralAndAdministrativeExpense`	$2.28M	USD	2 Qtrs
Corporate general and administrative (Note 3)	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Corporate general and administrative (Note 3)	`GeneralAndAdministrativeExpense`	$1.16M	USD	1 Quarter
Corporate general and administrative (Note 3)	`GeneralAndAdministrativeExpense`	$2.27M	USD	2 Qtrs
Contingent value rights (Note 3)	`ContingentValueRights`	-	USD	2 Qtrs
Contingent value rights (Note 3)	`ContingentValueRights`	-	USD	1 Quarter
Contingent value rights (Note 3)	`ContingentValueRights`	$6.17K	USD	1 Quarter
Contingent value rights (Note 3)	`ContingentValueRights`	$38.82K	USD	2 Qtrs
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$350.84K	USD	1 Quarter
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$727.89K	USD	2 Qtrs
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$592.40K	USD	2 Qtrs
Siembra Minera Project costs (Note 7)	`SiembraMineraProjectCosts`	$313.94K	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$15.95K	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$3.21K	USD	1 Quarter
Exploration costs	`ExplorationExpense`	$3.21K	USD	2 Qtrs
Exploration costs	`ExplorationExpense`	$39.47K	USD	2 Qtrs
Legal and accounting	`LegalAndAccounting`	$231.59K	USD	1 Quarter
Legal and accounting	`LegalAndAccounting`	$553.05K	USD	2 Qtrs
Legal and accounting	`LegalAndAccounting`	$170.37K	USD	1 Quarter
Legal and accounting	`LegalAndAccounting`	$357.50K	USD	2 Qtrs
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$908.28K	USD	2 Qtrs
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$113.91K	USD	2 Qtrs
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$33.60K	USD	1 Quarter
Arbitration and settlement (Note 3)	`ArbitrationAndSettlement`	$630.79K	USD	1 Quarter
Equipment holding costs	`EquipmentHoldingCosts`	$125.93K	USD	1 Quarter
Equipment holding costs	`EquipmentHoldingCosts`	$202.38K	USD	2 Qtrs
Equipment holding costs	`EquipmentHoldingCosts`	$234.50K	USD	2 Qtrs
Equipment holding costs	`EquipmentHoldingCosts`	$88.24K	USD	1 Quarter
Total Expense	`OperatingCostsAndExpenses`	$4.55M	USD	2 Qtrs
Total Expense	`OperatingCostsAndExpenses`	$1.84M	USD	1 Quarter
Total Expense	`OperatingCostsAndExpenses`	$2.36M	USD	1 Quarter
Total Expense	`OperatingCostsAndExpenses`	$3.77M	USD	2 Qtrs
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.75M	USD	1 Quarter
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.62M	USD	2 Qtrs
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.24M	USD	1 Quarter
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.31M	USD	2 Qtrs
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	$-112.83K	USD	1 Quarter
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	$-710.19K	USD	2 Qtrs
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-3.60M	USD	2 Qtrs
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-1.75M	USD	1 Quarter
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-3.62M	USD	2 Qtrs
Net loss and comprehensive loss for the period	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.04	USD	2 Qtrs
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.04	USD	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.41M	shares	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.40M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.43M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.40M	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`ProfitLoss`	$-3.60M	USD	2 Qtrs
Net loss for the period	`ProfitLoss`	$-3.62M	USD	2 Qtrs
Net loss for the period	`ProfitLoss`	$-2.12M	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.75M	USD	1 Quarter
Stock option compensation	`StockOptionPlanExpense`	$58.93K	USD	2 Qtrs
Stock option compensation	`StockOptionPlanExpense`	-	USD	2 Qtrs
Stock option compensation	`StockOptionPlanExpense`	$11.92K	USD	1 Quarter
Stock option compensation	`StockOptionPlanExpense`	-	USD	1 Quarter
Depreciation	`Depreciation`	$53.20K	USD	2 Qtrs
Depreciation	`Depreciation`	$26.60K	USD	1 Quarter
Depreciation	`Depreciation`	$66.06K	USD	2 Qtrs
Depreciation	`Depreciation`	$33.03K	USD	1 Quarter
Gain on marketable equity securities	`MarketableSecuritiesGainLoss`	$-2.17K	USD	2 Qtrs
Gain on marketable equity securities	`MarketableSecuritiesGainLoss`	$-2.40K	USD	1 Quarter
Gain on marketable equity securities	`MarketableSecuritiesGainLoss`	$-46.90K	USD	1 Quarter
Gain on marketable equity securities	`MarketableSecuritiesGainLoss`	$-43.41K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	$-78.28K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	$-78.28K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	$-710.19K	USD	2 Qtrs
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	$-112.83K	USD	1 Quarter
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	2 Qtrs
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.20M	USD	2 Qtrs
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Net increase in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$-845.70K	USD	1 Quarter
Net increase in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$-572.90K	USD	2 Qtrs
Net increase in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$-322.13K	USD	2 Qtrs
Net increase in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$-733.11K	USD	1 Quarter
Net increase (decrease) in payables and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-106.43K	USD	1 Quarter
Net increase (decrease) in payables and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$50.68K	USD	1 Quarter
Net increase (decrease) in payables and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$331.65K	USD	2 Qtrs
Net increase (decrease) in payables and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-48.51K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.04M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.74M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.93M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.25M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$167.46K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$167.46K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$167.46K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$167.46K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.57M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.04M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-4.08M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.93M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$63.72M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.90M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.33M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.79M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.42M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$63.72M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.90M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.82M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.33M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.79M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$65.07M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$68.42M	USD	Point-in-time
Net loss for the period	`NetIncomeLoss`	$-3.60M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-1.75M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-3.62M	USD	2 Qtrs
Net loss for the period	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Stock Issued During Period, Shares, New Issues	`StockIssuedDuringPeriodSharesNewIssues`	152,662.00	shares	2 Qtrs
Stock Issued During Period, Shares, New Issues	`StockIssuedDuringPeriodSharesNewIssues`	152,662.00	shares	1 Quarter
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$58.93K	USD	2 Qtrs
Stock option compensation (Note 9)	`StockOptionPlanExpense`	-	USD	2 Qtrs
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$11.92K	USD	1 Quarter
Stock option compensation (Note 9)	`StockOptionPlanExpense`	-	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$65.07M	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.