4. RECEIVABLES
The Company’s receivables are related to the sale of foreign subsidiaries, royalty receivable, goods and services tax and harmonized sales taxes receivable from government taxation authorities, and recovery of exploration expenditures from joint venture partner.
As at December 31, 2017 and 2016, the current receivables were as follows:
|
Category |
December 31, 2017 | December 31, 2016 | ||||
|
Sale of Akarca (Note 9) |
$ | 2,447,595 | $ | 4,145,898 | ||
|
Royalty income receivable |
258,223 | 306,513 | ||||
|
Refundable taxes |
151,163 | 142,857 | ||||
|
Recoverable exploration expenditures and advances |
270,547 | 79,090 | ||||
|
Other |
248,883 | 168,375 | ||||
|
As at December 31, 2017 |
3,376,411 | 4,842,733 | ||||
|
Less: Long term portion |
- | (1,412,727 | ) | |||
|
Total |
$ | 3,376,411 | $ | 3,430,006 |
The carrying amounts of the Company’s current and non – current receivables are denominated in the following currencies:
|
Currency |
December 31, 2017 | December 31, 2016 | ||||
|
Canadian Dollars |
$ | 280,925 | $ | 48,448 | ||
|
US Dollars |
3,040,347 | 4,744,825 | ||||
|
Turkish Lira |
24,535 | 41,785 | ||||
|
Swedish Krona |
29,575 | 6,824 | ||||
|
Other |
1,029 | 851 | ||||
|
Total |
$ | 3,376,411 | $ | 4,842,733 |