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6-K Filing

GOLD RESERVE LTD CIK: 1072725 Q3 2023
Filing Information
Form Type 6-K
Accession Number 0001072725-23-000043
Period End Date 20230930
Filing Date 20231127
Fiscal Year 2023
Fiscal Period Q3
XBRL Instance gdrzfform6kex991112723_htm.xml
Filing Contents
Balance Sheet 43 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 $3.33M USD Point-in-time
Cash and cash equivalents (Note 3) CashAndCashEquivalentsAtCarryingValue $15.38M USD Point-in-time
Term deposits (Note 4) TimeDepositsAtCarryingValue $27.50M USD Point-in-time
Term deposits (Note 4) TimeDepositsAtCarryingValue $35.59M USD Point-in-time
Marketable equity securities (Note 5) MarketableSecurities $98.05K USD Point-in-time
Marketable equity securities (Note 5) MarketableSecurities $814.35K USD Point-in-time
Assets held for sale (Note 6) AssetsHeldForSale $775.00K USD Point-in-time
Assets held for sale (Note 6) AssetsHeldForSale - USD Point-in-time
Income tax receivable (Note 10) IncomeTaxReceivable $8.09M USD Point-in-time
Income tax receivable (Note 10) IncomeTaxReceivable - USD Point-in-time
Prepaid expense and other OtherAssetsCurrent $506.25K USD Point-in-time
Prepaid expense and other OtherAssetsCurrent $458.94K USD Point-in-time
Total current assets AssetsCurrent $41.02M USD Point-in-time
Total current assets AssetsCurrent $51.53M USD Point-in-time
Property, plant and equipment, net (Note 6) PropertyPlantAndEquipmentNet $399.94K USD Point-in-time
Property, plant and equipment, net (Note 6) PropertyPlantAndEquipmentNet $1.42M USD Point-in-time
Total assets Assets $52.94M USD Point-in-time
Total assets Assets $41.42M USD Point-in-time
Accounts payable and accrued expenses (Note 2) AccountsPayableAndAccruedLiabilitiesCurrent $1.26M USD Point-in-time
Accounts payable and accrued expenses (Note 2) AccountsPayableAndAccruedLiabilitiesCurrent $647.28K USD Point-in-time
Income tax payable (Note 10) TaxesPayableCurrent $9.51M USD Point-in-time
Income tax payable (Note 10) TaxesPayableCurrent - USD Point-in-time
Severance accrual (Note 9) Severanceaccrual $531.98K USD Point-in-time
Severance accrual (Note 9) Severanceaccrual - USD Point-in-time
Contingent value rights (Note 2) AccruedContingentValueRights - USD Point-in-time
Contingent value rights (Note 2) AccruedContingentValueRights $172.08K USD Point-in-time
Total current liabilities LiabilitiesCurrent $10.77M 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 $10.77M USD Point-in-time
Preferred Stock, Shares Issued PreferredStockSharesIssued 0.00 shares 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 $23.56M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-316.22M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-295.27M USD Point-in-time
Total shareholders' equity StockholdersEquity $51.59M USD Point-in-time
Total shareholders' equity StockholdersEquity $30.65M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $41.42M 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 $176.78K USD 1 Quarter
Interest income InvestmentIncomeInterest $1.41M USD 3 Qtrs
Interest income InvestmentIncomeInterest $484.84K USD 1 Quarter
Interest income InvestmentIncomeInterest $251.96K USD 3 Qtrs
Unrealized gain (loss) on equity securities (Note 5) GainLossOnInvestments $716.30K USD 3 Qtrs
Unrealized gain (loss) on equity securities (Note 5) GainLossOnInvestments $8.21K USD 3 Qtrs
Unrealized gain (loss) on equity securities (Note 5) GainLossOnInvestments $377.21K USD 1 Quarter
Unrealized gain (loss) on equity securities (Note 5) GainLossOnInvestments $-46.61K USD 1 Quarter
Foreign currency loss ForeignCurrencyGainLoss $-70.14K USD 1 Quarter
Foreign currency loss ForeignCurrencyGainLoss $-116.01K USD 3 Qtrs
Foreign currency loss ForeignCurrencyGainLoss $-16.81K USD 3 Qtrs
Foreign currency loss ForeignCurrencyGainLoss $-21.33K USD 1 Quarter
Corporate general and administrative (Notes 2 and 9) GeneralAndAdministrativeExpense $1.06M USD 1 Quarter
Corporate general and administrative (Notes 2 and 9) GeneralAndAdministrativeExpense $3.72M USD 3 Qtrs
Corporate general and administrative (Notes 2 and 9) GeneralAndAdministrativeExpense $2.96M USD 3 Qtrs
Corporate general and administrative (Notes 2 and 9) GeneralAndAdministrativeExpense $926.62K USD 1 Quarter
Siembra Minera Project and related costs (Note 7) SiembraMineraProjectCosts - USD 3 Qtrs
Siembra Minera Project and related costs (Note 7) SiembraMineraProjectCosts $223.24K USD 3 Qtrs
Siembra Minera Project and related costs (Note 7) SiembraMineraProjectCosts - USD 1 Quarter
Siembra Minera Project and related costs (Note 7) SiembraMineraProjectCosts - USD 1 Quarter
Exploration costs ExplorationExpense $54.69K USD 3 Qtrs
Exploration costs ExplorationExpense $23.30K USD 3 Qtrs
Exploration costs ExplorationExpense $6.91K USD 1 Quarter
Exploration costs ExplorationExpense $36.50K USD 1 Quarter
Write-down of assets held for sale (Note 6) WritedownOfAssetsHeldForSale - USD 3 Qtrs
Write-down of assets held for sale (Note 6) WritedownOfAssetsHeldForSale - USD 1 Quarter
Write-down of assets held for sale (Note 6) WritedownOfAssetsHeldForSale - USD 1 Quarter
Write-down of assets held for sale (Note 6) WritedownOfAssetsHeldForSale $193.75K USD 3 Qtrs
Legal and accounting LegalAndAccounting $515.85K USD 1 Quarter
Legal and accounting LegalAndAccounting $1.38M USD 3 Qtrs
Legal and accounting LegalAndAccounting $1.23M USD 3 Qtrs
Legal and accounting LegalAndAccounting $535.33K USD 1 Quarter
Enforcement of Arbitral Award (Note 2) EnforcementOfArbitralAward $166.78K USD 1 Quarter
Enforcement of Arbitral Award (Note 2) EnforcementOfArbitralAward $140.88K USD 3 Qtrs
Enforcement of Arbitral Award (Note 2) EnforcementOfArbitralAward $90.46K USD 1 Quarter
Enforcement of Arbitral Award (Note 2) EnforcementOfArbitralAward $900.61K USD 3 Qtrs
Equipment holding costs EquipmentHoldingCosts $70.20K USD 1 Quarter
Equipment holding costs EquipmentHoldingCosts $122.37K USD 3 Qtrs
Equipment holding costs EquipmentHoldingCosts $40.43K USD 1 Quarter
Equipment holding costs EquipmentHoldingCosts $145.70K USD 3 Qtrs
Net loss before income tax for the period IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-3.34M USD 3 Qtrs
Net loss before income tax for the period IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-1.70M USD 1 Quarter
Net loss before income tax for the period IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-5.49M USD 3 Qtrs
Net loss before income tax for the period IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $-845.46K USD 1 Quarter
Income tax expense (Note 10) IncomeTaxExpenseBenefit - USD 1 Quarter
Income tax expense (Note 10) IncomeTaxExpenseBenefit $-17.61M USD 3 Qtrs
Income tax expense (Note 10) IncomeTaxExpenseBenefit $-17.61M USD 1 Quarter
Income tax expense (Note 10) IncomeTaxExpenseBenefit - USD 3 Qtrs
Net loss and comprehensive loss for the period NetIncomeLoss $-5.49M USD 3 Qtrs
Net loss and comprehensive loss for the period NetIncomeLoss $-20.95M USD 3 Qtrs
Net loss and comprehensive loss for the period NetIncomeLoss $-1.70M USD 1 Quarter
Net loss and comprehensive loss for the period NetIncomeLoss $-18.45M USD 1 Quarter
Net loss per share, basic and diluted NetLossAndComprehensiveLossBasicAndDiluted $-0.06 USD 3 Qtrs
Net loss per share, basic and diluted NetLossAndComprehensiveLossBasicAndDiluted $-0.02 USD 1 Quarter
Net loss per share, basic and diluted NetLossAndComprehensiveLossBasicAndDiluted $-0.21 USD 3 Qtrs
Net loss per share, basic and diluted NetLossAndComprehensiveLossBasicAndDiluted $-0.19 USD 1 Quarter
Weighted average common shares outstanding, basic and diluted WeightedAverageCommonSharesOutstandingBasicDiluted 99.55M shares 1 Quarter
Weighted average common shares outstanding, basic and diluted WeightedAverageCommonSharesOutstandingBasicDiluted 99.55M shares 3 Qtrs
Weighted average common shares outstanding, basic and diluted WeightedAverageCommonSharesOutstandingBasicDiluted 99.55M shares 3 Qtrs
Weighted average common shares outstanding, basic and diluted WeightedAverageCommonSharesOutstandingBasicDiluted 99.55M shares 1 Quarter
Cash Flow Statement 92 line items
Line Item Tag Value Unit Period
Net loss for the period ProfitLoss $-20.95M USD 3 Qtrs
Net loss for the period ProfitLoss $-18.45M USD 1 Quarter
Net loss for the period ProfitLoss $-1.70M USD 1 Quarter
Net loss for the period ProfitLoss $-5.49M USD 3 Qtrs
Stock option compensation StockOptionPlanExpense $3.80K USD 1 Quarter
Stock option compensation StockOptionPlanExpense $11.70K USD 3 Qtrs
Stock option compensation StockOptionPlanExpense - USD 3 Qtrs
Stock option compensation StockOptionPlanExpense - USD 1 Quarter
Depreciation Depreciation $25.68K USD 1 Quarter
Depreciation Depreciation $15.62K USD 1 Quarter
Depreciation Depreciation $78.97K USD 3 Qtrs
Depreciation Depreciation $47.47K USD 3 Qtrs
Write-down of assets held for sale WritedownOfAssetsHeldForSale - USD 3 Qtrs
Write-down of assets held for sale WritedownOfAssetsHeldForSale - USD 1 Quarter
Write-down of assets held for sale WritedownOfAssetsHeldForSale - USD 1 Quarter
Write-down of assets held for sale WritedownOfAssetsHeldForSale $193.75K USD 3 Qtrs
Unrealized (gain) loss on marketable equity securities MarketableSecuritiesGainLoss $-716.30K USD 3 Qtrs
Unrealized (gain) loss on marketable equity securities MarketableSecuritiesGainLoss $-377.21K USD 1 Quarter
Unrealized (gain) loss on marketable equity securities MarketableSecuritiesGainLoss $-8.21K USD 3 Qtrs
Unrealized (gain) loss on marketable equity securities MarketableSecuritiesGainLoss $46.61K USD 1 Quarter
Amortized interest on term deposits AmortizationDiscountTermDeposits $-1.25M USD 3 Qtrs
Amortized interest on term deposits AmortizationDiscountTermDeposits - USD 1 Quarter
Amortized interest on term deposits AmortizationDiscountTermDeposits - USD 3 Qtrs
Amortized interest on term deposits AmortizationDiscountTermDeposits $-465.77K USD 1 Quarter
Decrease in income tax receivable related to change in uncertain tax position DecreaseIncomeTaxReceivableChangeUTP - USD 1 Quarter
Decrease in income tax receivable related to change in uncertain tax position DecreaseIncomeTaxReceivableChangeUTP $8.09M USD 3 Qtrs
Decrease in income tax receivable related to change in uncertain tax position DecreaseIncomeTaxReceivableChangeUTP - USD 3 Qtrs
Decrease in income tax receivable related to change in uncertain tax position DecreaseIncomeTaxReceivableChangeUTP $8.09M USD 1 Quarter
Decrease in income tax receivable DecreaseInIncomeTaxReceivable $591.74K USD 3 Qtrs
Decrease in income tax receivable DecreaseInIncomeTaxReceivable - USD 3 Qtrs
Decrease in income tax receivable DecreaseInIncomeTaxReceivable - USD 1 Quarter
Decrease in income tax receivable DecreaseInIncomeTaxReceivable - USD 1 Quarter
Increase in income tax payable IncreaseIncomeTaxPayable - USD 3 Qtrs
Increase in income tax payable IncreaseIncomeTaxPayable - USD 1 Quarter
Increase in income tax payable IncreaseIncomeTaxPayable $9.51M USD 3 Qtrs
Increase in income tax payable IncreaseIncomeTaxPayable $9.51M USD 1 Quarter
Decrease in severance accrual IncreaseDecreaseSeveranceAccrual $-531.98K USD 3 Qtrs
Decrease in severance accrual IncreaseDecreaseSeveranceAccrual - USD 3 Qtrs
Decrease in severance accrual IncreaseDecreaseSeveranceAccrual - USD 1 Quarter
Decrease in severance accrual IncreaseDecreaseSeveranceAccrual - USD 1 Quarter
Decrease in contingent value rights accrual IncreaseDecreaseCVRAccrual - USD 1 Quarter
Decrease in contingent value rights accrual IncreaseDecreaseCVRAccrual $-60.38K USD 1 Quarter
Decrease in contingent value rights accrual IncreaseDecreaseCVRAccrual $-172.08K USD 3 Qtrs
Decrease in contingent value rights accrual IncreaseDecreaseCVRAccrual - USD 3 Qtrs
Net decrease (increase) in prepaid expense and other IncreaseDecreaseInDepositOtherAssets $-47.31K USD 3 Qtrs
Net decrease (increase) in prepaid expense and other IncreaseDecreaseInDepositOtherAssets $368.23K USD 1 Quarter
Net decrease (increase) in prepaid expense and other IncreaseDecreaseInDepositOtherAssets $277.89K USD 1 Quarter
Net decrease (increase) in prepaid expense and other IncreaseDecreaseInDepositOtherAssets $-232.51K USD 3 Qtrs
Net increase in payables and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $256.78K USD 1 Quarter
Net increase in payables and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $608.72K USD 3 Qtrs
Net increase in payables and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $153.89K USD 1 Quarter
Net increase in payables and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $828.15K USD 3 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.22M USD 3 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-1.11M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-5.21M USD 3 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-1.20M USD 1 Quarter
Purchase of term deposits PurchaseTimeDeposits - USD 1 Quarter
Purchase of term deposits PurchaseTimeDeposits $-8.32M USD 1 Quarter
Purchase of term deposits PurchaseTimeDeposits $-38.78M USD 3 Qtrs
Purchase of term deposits PurchaseTimeDeposits - USD 3 Qtrs
Proceeds from maturity of term deposits MaturityTermDeposits - USD 3 Qtrs
Proceeds from maturity of term deposits MaturityTermDeposits $31.94M USD 3 Qtrs
Proceeds from maturity of term deposits MaturityTermDeposits $11.54M USD 1 Quarter
Proceeds from maturity of term deposits MaturityTermDeposits - USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-6.84M USD 3 Qtrs
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $3.21M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities - USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities - USD 3 Qtrs
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $1.08K USD 3 Qtrs
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised - USD 3 Qtrs
Proceeds from the exercise of stock options ProceedsFromStockOptionsExercised $1.08K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.08K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.08K USD 3 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities - USD 3 Qtrs
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.11M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.02M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-12.05M USD 3 Qtrs
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.22M USD 3 Qtrs
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.89M USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.12M USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.33M USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $46.00M USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.38M USD Point-in-time
Cash and cash equivalents - beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $44.89M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.12M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.33M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $46.00M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.38M USD Point-in-time
Cash and cash equivalents - end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.32M USD Point-in-time
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Beginning balance, value StockholdersEquity $51.59M USD Point-in-time
Beginning balance, value StockholdersEquity $30.65M USD Point-in-time
Net loss for the period NetIncomeLoss $-5.49M USD 3 Qtrs
Net loss for the period NetIncomeLoss $-20.95M USD 3 Qtrs
Net loss for the period NetIncomeLoss $-1.70M USD 1 Quarter
Net loss for the period NetIncomeLoss $-18.45M USD 1 Quarter
Stock Issued During Period, Shares, New Issues StockIssuedDuringPeriodSharesNewIssues 1,001.00 shares 3 Qtrs
Stock Issued During Period, Shares, New Issues StockIssuedDuringPeriodSharesNewIssues 1,001.00 shares 1 Quarter
Stock option compensation (Note 9) StockOptionPlanExpense $3.80K USD 1 Quarter
Stock option compensation (Note 9) StockOptionPlanExpense $11.70K USD 3 Qtrs
Stock option compensation (Note 9) StockOptionPlanExpense - USD 3 Qtrs
Stock option compensation (Note 9) StockOptionPlanExpense - USD 1 Quarter
Ending balance, value StockholdersEquity $51.59M USD Point-in-time
Ending balance, value StockholdersEquity $30.65M USD Point-in-time

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

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