ASSET RETIREMENT OBLIGATION |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oct. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSET RETIREMENT OBLIGATION |
NOTE 6 — ASSET RETIREMENT OBLIGATION
In conjunction with various permit approvals permitting the Company to undergo exploration activities at the CK Gold, Keystone and Maggie Creek projects, 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:
For the six months ended October 31, 2022 and 2021, accretion expense amounted to $12,807 and $10,186, respectively, and included in general and administrative expenses as reflected in the accompanying statements of operations. For the three months ended October 31, 2022 and 2021, accretion expense amounted to $6,533 and $5,252, respectively, and included in general and administrative expenses as reflected in the accompanying statements of operations.
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