MINCO GOLD CORP | CIK:0001020825 | 3

  • Filed: 4/30/2018
  • Entity registrant name: MINCO GOLD CORP (CIK: 0001020825)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1020825/000127956918000857/0001279569-18-000857-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1020825/000127956918000857/mghcf-20171231.xml
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    • ifrs-full:DisclosureOfInterestsInAssociatesExplanatory

    8.
    Investment in an associate
     
    The Company is considered having significantly influence on Minco Silver through common officers and a common director. Minco Silver was incorporated in British Columbia, Canada and its Common Shares are listed on the TSX and trades under the symbol “MSV.” The Company accounted for its investment in Minco Silver using the equity method up to November 11, 2016, when the Company met the definition of an investment entity and commenced accounting for this investment at FVTPL (Note1 and 7).
     
    Continuity of the Company’s investment in Minco Silver in 2016 for the period it was accounted for as an investment in associate is as follows:
     
     
     
    Period from January 1 to
    November 11,
     
     
     
    2016
     
     
     
    $
     
    Beginning of period
     
     
    6,631,094
     
     
    Dilution loss
     
     
    (98,899)
     
     
    Share of Minco Silver’s income (loss)
     
     
    (408,225)
     
     
    Share of Minco Silver’s other comprehensive income (loss)
     
     
    (1,345,417)
     
     
    Ending of period
     
     
    4,778,553
    (i)
     
     
    (i) $4,778,553 was the carrying value of the Company’s investment in Minco Silver on November 11, 2016 when the Company ceased to apply the equity method to account for this investment (Note 7)
     
    The following is the income statement disclosure of Minco Silver for the years ended December 31, 2016, and 2015.
     
    Years ended December 31,
     
    2016
     
    2015
     
     
     
    $
     
    $
     
    Administrative expenses
     
     
    2,576,760
     
     
    2,805,616
     
    Interest income
     
     
    521,021
     
     
    911,213
     
    Net income (loss) for the year
     
     
    (2,407,668)
     
     
    6,680,947
     
    Other comprehensive income (loss)
     
     
    (9,277,783)
     
     
    10,851,532
     
    Comprehensive income (loss) for the year
     
     
    (11,685,451)
     
     
    17,532,479