20-F Filing

GOLD RESERVE LTD CIK: 1072725 FY 2022

Filing Information

Form Type	20-F
Accession Number	`0001072725-23-000009`
Period End Date	20221231
Filing Date	20230427
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	gdrzfform20f042723_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 60 Cash Flow Statement 71 Stockholders Equity 11

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.55M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	99.55M	shares	Point-in-time
Cash and cash equivalents (Note 3)	`CashAndCashEquivalentsAtCarryingValue`	$49.12M	USD	Point-in-time
Cash and cash equivalents (Note 3)	`CashAndCashEquivalentsAtCarryingValue`	$15.38M	USD	Point-in-time
Term deposits (Note 4)	`TimeDepositsAtCarryingValue`	-	USD	Point-in-time
Term deposits (Note 4)	`TimeDepositsAtCarryingValue`	$27.50M	USD	Point-in-time
Marketable equity securities (Note 5)	`MarketableSecurities`	$105.22K	USD	Point-in-time
Marketable equity securities (Note 5)	`MarketableSecurities`	$98.05K	USD	Point-in-time
Income tax receivable (Note 10)	`IncomeTaxReceivable`	$8.09M	USD	Point-in-time
Income tax receivable (Note 10)	`IncomeTaxReceivable`	$8.68M	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$506.66K	USD	Point-in-time
Prepaid expense and other	`OtherAssetsCurrent`	$458.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$58.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.53M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$2.15M	USD	Point-in-time
Property, plant and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$1.42M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$74.42K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total assets	`Assets`	$60.64M	USD	Point-in-time
Total assets	`Assets`	$52.94M	USD	Point-in-time
Accounts payable and accrued expenses (Note 2)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$647.28K	USD	Point-in-time
Accounts payable and accrued expenses (Note 2)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$473.23K	USD	Point-in-time
Severance accrual (Note 9)	`Severanceaccrual`	$531.98K	USD	Point-in-time
Severance accrual (Note 9)	`Severanceaccrual`	-	USD	Point-in-time
Lease liability	`OperatingLeaseLiability`	-	USD	Point-in-time
Lease liability	`OperatingLeaseLiability`	$77.09K	USD	Point-in-time
Contingent value rights (Note 2)	`AccruedContingentValueRights`	$60.24K	USD	Point-in-time
Contingent value rights (Note 2)	`AccruedContingentValueRights`	$172.08K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$610.56K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$610.56K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common shares	`CommonStockValue`	$302.68M	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`	$23.56M	USD	Point-in-time
Stock options (Note 9)	`AccumulatedStockOptionExpense`	$23.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-295.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-286.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$60.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$51.59M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$60.64M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$52.94M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InvestmentIncomeInterest`	$31.09K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$582.52K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$294.28K	USD	Annual
Gain (loss) on disposition of property, plant and equipment (Note 6)	`GainLossOnDispositionOfAssets`	$-8.41K	USD	Annual
Gain (loss) on disposition of property, plant and equipment (Note 6)	`GainLossOnDispositionOfAssets`	$58.56K	USD	Annual
Gain (loss) on disposition of property, plant and equipment (Note 6)	`GainLossOnDispositionOfAssets`	$-30.48K	USD	Annual
Gain (loss) on marketable equity securities (Note 5)	`GainLossOnInvestments`	$-7.17K	USD	Annual
Gain (loss) on marketable equity securities (Note 5)	`GainLossOnInvestments`	$21.64K	USD	Annual
Gain (loss) on marketable equity securities (Note 5)	`GainLossOnInvestments`	$5.76K	USD	Annual
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$24.10K	USD	Annual
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$-100.28K	USD	Annual
Foreign currency gain (loss)	`ForeignCurrencyGainLoss`	$-20.40K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$293.66K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$466.67K	USD	Annual
Total Other Income	`NonoperatingIncomeExpense`	$90.90K	USD	Annual
Corporate general and administrative (Notes 2 and 9)	`GeneralAndAdministrativeExpense`	$5.15M	USD	Annual
Corporate general and administrative (Notes 2 and 9)	`GeneralAndAdministrativeExpense`	$6.02M	USD	Annual
Corporate general and administrative (Notes 2 and 9)	`GeneralAndAdministrativeExpense`	$5.15M	USD	Annual
Contingent value rights (Note 2)	`ContingentValueRights`	-	USD	Annual
Contingent value rights (Note 2)	`ContingentValueRights`	$59.55K	USD	Annual
Contingent value rights (Note 2)	`ContingentValueRights`	$461.83K	USD	Annual
Siembra Minera Project and related costs (Note 7)	`SiembraMineraProjectCosts`	$223.24K	USD	Annual
Siembra Minera Project and related costs (Note 7)	`SiembraMineraProjectCosts`	$1.68M	USD	Annual
Siembra Minera Project and related costs (Note 7)	`SiembraMineraProjectCosts`	$1.57M	USD	Annual
Write-down of property, plant and equipment (Note 6)	`WritedownOfPPE`	$622.97K	USD	Annual
Write-down of property, plant and equipment (Note 6)	`WritedownOfPPE`	-	USD	Annual
Write-down of property, plant and equipment (Note 6)	`WritedownOfPPE`	$3.75M	USD	Annual
Loss on impairment of cash in bank account (Note 3)	`LossOnImpairmentOfBankAccount`	-	USD	Annual
Loss on impairment of cash in bank account (Note 3)	`LossOnImpairmentOfBankAccount`	$1.17M	USD	Annual
Loss on impairment of cash in bank account (Note 3)	`LossOnImpairmentOfBankAccount`	-	USD	Annual
Exploration costs	`ExplorationExpense`	$62.10K	USD	Annual
Exploration costs	`ExplorationExpense`	$73.68K	USD	Annual
Exploration costs	`ExplorationExpense`	$118.26K	USD	Annual
Legal and accounting	`LegalAndAccounting`	$698.81K	USD	Annual
Legal and accounting	`LegalAndAccounting`	$1.92M	USD	Annual
Legal and accounting	`LegalAndAccounting`	$1.25M	USD	Annual
Settlement Agreement enforcement (Note 2)	`ArbitrationAndSettlement`	$145.15K	USD	Annual
Settlement Agreement enforcement (Note 2)	`ArbitrationAndSettlement`	$450.48K	USD	Annual
Settlement Agreement enforcement (Note 2)	`ArbitrationAndSettlement`	$1.13M	USD	Annual
Equipment holding costs	`EquipmentHoldingCosts`	$168.12K	USD	Annual
Equipment holding costs	`EquipmentHoldingCosts`	$470.36K	USD	Annual
Equipment holding costs	`EquipmentHoldingCosts`	$317.84K	USD	Annual
Total Expense	`OperatingCostsAndExpenses`	$9.06M	USD	Annual
Total Expense	`OperatingCostsAndExpenses`	$12.90M	USD	Annual
Total Expense	`OperatingCostsAndExpenses`	$10.69M	USD	Annual
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.61M	USD	Annual
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.60M	USD	Annual
Net loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.60M	USD	Annual
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	$-1.09M	USD	Annual
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefit (Note 10)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss and comprehensive loss for the year	`NetIncomeLoss`	$-11.52M	USD	Annual
Net loss and comprehensive loss for the year	`NetIncomeLoss`	$-8.60M	USD	Annual
Net loss and comprehensive loss for the year	`NetIncomeLoss`	$-10.60M	USD	Annual
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.09	USD	Annual
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.12	USD	Annual
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.55M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.48M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.40M	shares	Annual

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net loss for the year	`ProfitLoss`	$-11.52M	USD	Annual
Net loss for the year	`ProfitLoss`	$-8.60M	USD	Annual
Net loss for the year	`ProfitLoss`	$-10.60M	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$1.99M	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$159.22K	USD	Annual
Stock option compensation	`StockOptionPlanExpense`	$656.77K	USD	Annual
Depreciation	`Depreciation`	$106.43K	USD	Annual
Depreciation	`Depreciation`	$124.27K	USD	Annual
Depreciation	`Depreciation`	$104.14K	USD	Annual
Write-down of property, plant and equipment	`WritedownOfPropertyPlantAndEquipment`	$622.97K	USD	Annual
Write-down of property, plant and equipment	`WritedownOfPropertyPlantAndEquipment`	$3.75M	USD	Annual
Write-down of property, plant and equipment	`WritedownOfPropertyPlantAndEquipment`	-	USD	Annual
Loss (gain) on disposition of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$8.41K	USD	Annual
Loss (gain) on disposition of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$30.48K	USD	Annual
Loss (gain) on disposition of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-58.56K	USD	Annual
Loss (gain) on marketable equity securities	`MarketableSecuritiesGainLoss`	$-21.64K	USD	Annual
Loss (gain) on marketable equity securities	`MarketableSecuritiesGainLoss`	$7.17K	USD	Annual
Loss (gain) on marketable equity securities	`MarketableSecuritiesGainLoss`	$-5.76K	USD	Annual
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	$-1.09M	USD	Annual
Income tax recovery	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Amortization of discount on term deposits	`AmortizationDiscountTermDeposits`	-	USD	Annual
Amortization of discount on term deposits	`AmortizationDiscountTermDeposits`	$-122.63K	USD	Annual
Amortization of discount on term deposits	`AmortizationDiscountTermDeposits`	-	USD	Annual
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	Annual
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.20M	USD	Annual
Decrease in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$591.74K	USD	Annual
Increase in severance accrual	`IncreaseDecreaseSeveranceAccrual`	-	USD	Annual
Increase in severance accrual	`IncreaseDecreaseSeveranceAccrual`	$531.98K	USD	Annual
Increase in severance accrual	`IncreaseDecreaseSeveranceAccrual`	-	USD	Annual
Increase in contingent value rights accrual	`IncreaseDecreaseCVRAccrual`	$111.83K	USD	Annual
Increase in contingent value rights accrual	`IncreaseDecreaseCVRAccrual`	-	USD	Annual
Increase in contingent value rights accrual	`IncreaseDecreaseCVRAccrual`	-	USD	Annual
Net decrease in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$174.46K	USD	Annual
Net decrease in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$47.72K	USD	Annual
Net decrease in prepaid expense and other	`IncreaseDecreaseInDepositOtherAssets`	$66.75K	USD	Annual
Net increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-99.32K	USD	Annual
Net increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$113.27K	USD	Annual
Net increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$171.38K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.36M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.56M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.61M	USD	Annual
Purchase of term deposits	`PurchaseTimeDeposits`	$-27.38M	USD	Annual
Purchase of term deposits	`PurchaseTimeDeposits`	-	USD	Annual
Purchase of term deposits	`PurchaseTimeDeposits`	-	USD	Annual
Proceeds from disposition of marketable equity securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$100.13K	USD	Annual
Proceeds from disposition of marketable equity securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Proceeds from disposition of marketable equity securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Proceeds from disposition of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$98.65K	USD	Annual
Proceeds from disposition of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$315.39K	USD	Annual
Proceeds from disposition of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.38K	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$46.75K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$313.01K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$152.02K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.37M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.30M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.41M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-33.74M	USD	Annual
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.38M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.42M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.82M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.12M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.38M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.42M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.82M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.12M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$60.03M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$51.59M	USD	Point-in-time
Net loss for the year	`ProfitLoss`	$-11.52M	USD	Annual
Net loss for the year	`ProfitLoss`	$-8.60M	USD	Annual
Net loss for the year	`ProfitLoss`	$-10.60M	USD	Annual
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$1.99M	USD	Annual
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$159.22K	USD	Annual
Stock option compensation (Note 9)	`StockOptionPlanExpense`	$656.77K	USD	Annual
[custom:SharesIssuedRetirementPlan]	`SharesIssuedRetirementPlan`	152,662.00	shares	Annual
Ending balance, value	`StockholdersEquity`	$60.03M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$51.59M	USD	Point-in-time

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