Company: AXREF
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001654954-25-008549
Chunk: 44

Company: AMARC RESOURCES LTD
Filing Date: 2025-07-28
Form: 20-F
Item: Item 5
Chunk 44
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583 during 2023 compared to a net loss of $363,812 during 2022.

  ($ 000’s)                                            2023       2022      Discussion                                                                                                                                                                                            
  Administration                                        819        617      Administration expenses increased during the 2023 period.                                                                                                                                             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Exploration and evaluation, net of recoveries      14,752      5,386      During the 2023 fiscal period, Amarc conducted field exploration activities on its portfolio of wholly owned mineral properties. These activities included programs solely funded by Amarc, as we...  
  Interest expense on loans payable to director         127        100      Interest incurred on loans provided by a director.                                                                                                                                                    
  Amortization of finance charges                       102         74      The amount relates to a loan bonus through the issuance of share purchase warrants to a director. Relates to a loan provided by the director in November 2014.                                        
  Equity settled share-based compensation               264        123      The amount relates to stock options issued to directors and officers of the Company in the fiscal year.                                                                                               

B. LIQUIDITY AND CAPITAL RESOURCES

Liquidity

Historically, the Company’s sole source of funding has been provided from the issuance of equity securities for cash, primarily through private placements to sophisticated investors and institutions, and from director loans. The Company’s access to financing is always uncertain. There can be no assurance of continued access to significant equity funding to finance the Company’s ongoing business.

At March 31, 2025, the Company had a cash balance of approximately $1,211,297 and working capital deficiency of $1,344,054.

Further advancement and development of the Company’s mineral property interests will require additional funding from a combination of the Company’s shareholders, existing or potential new optionees and joint venture parties, and debt financing. As the Company is currently in the exploration stage, it does not have any revenues from operations. Therefore, the Company relies on funding from its optionees for its continuing financial liquidity and the Company relies on the equity market and debt financing as sources of funding. The Company continues to focus on preserving its cash resources while maintaining its operational activities.

The Company does not have any material capital lease obligations, purchase obligations or any other long-term obligations.

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