ASSET RETIREMENT OBLIGATION |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 and Keystone 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 nine months ended January 31, 2024 and 2023, accretion expense amounted to $21,010 and $19,243, respectively. For the three months ended January 31, 2024 and 2023, accretion expense amounted to $7,080 and $6,436, respectively, and was included in general and administrative expenses as reflected in the accompanying unaudited condensed consolidated statements of operations.
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