Annual report pursuant to Section 13 and 15(d)

Asset Retirement Obligation

Asset Retirement Obligation
12 Months Ended
Apr. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation



In conjunction with various permit approvals permitting the Company to undergo exploration activities at the Copper King Project and Keystone Project, the Company has recorded an ARO based upon the reclamation plans submitted in connection with the various permits. The following table summarizes activity in the Company’s ARO for the periods presented:


    April 30, 2020     April 30, 2019  
Balance, beginning of period   $ 88,746     $ -  
Addition and changes in estimates     69,172       81,885  
Accretion expense     10,474       6,861  
Balance, end of period   $ 168,392     $ 88,746  


For the year ended April 30, 2020 and 2019, accretion expense amounted to $10,474 and $6,861, respectively.