XIANA MINING INC. | CIK:0001126932 | 3

  • Filed: 3/26/2018
  • Entity registrant name: XIANA MINING INC. (CIK: 0001126932)
  • Generator: Thunderdome
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1126932/000143774918005385/0001437749-18-005385-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1126932/000143774918005385/xiav-20180131.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001126932
  • Open this page in separate window: Click

    • ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory

    11.
    SALE OF SUBSIDIARY
     
    During the
    year ended
    January 31, 2017,
    the Company completed a sale of its
    100%
    interest in Dorato Peru S.A.C. (“Dorato”) for
    $38,668
    (US
    $30,000
    ). The Company paid Peruvian tax of
    $11,570.
    The Company anticipates this amount will be refunded, accordingly the amount is included in accounts receivable as at DJanuary
    31,
    2018.
    As a result of the sale, the Company recognized a gain on sale of subsidiary of
    $277,276
    comprised of the following:
     
     
    i)
    $15,916
    relating to a foreign exchange gain on accounts payable held in US dollars.
     
    ii)
    gain on sale of subsidiary
    $261,360,
    arising from the derecognition of net liabilities associated with Dorato of
    $222,692,
    plus proceeds of
    $38,668.
     
    As the cash flows related to the operations of Dorato Peru S.A.C. are clearly distinguished, both operationally, geographically and for financial reporting purposes from the rest of the entity, the financial performance within Dorato for the comparative periods has been reclassified and presented separately as discontinued operations in the consolidated statements of comprehensive loss and cash flows.
     
    The reported net income (loss) from discontinued operations is comprised of the following:
     
     
    For the year ended January 31
    		  
    201
    8
    		    
    2017
    		    
    2016
    		  
                             
    Exploration and evaluation costs
    		   $
    -
    		     $
    -
    		     $
    (12,263
    		 )
    Foreign exchange gain (loss)
    		    
    -
    		      
    15,916
    		      
    133,041
    		  
    Gain on sale of subsidiary
    		    
    -
    		      
    261,360
    		      
    -
    		  
                             
    Net income for the year from discontinued operations
    		   $
    -
    		     $
    277,276
    		     $
    120,778
    		  
     
    There were
    no
    income tax effects related to discontinued operations for any of the years ended
    January 31, 2018,
    2017
    or
    2016.
     
     
    The reported cash flows from discontinued operations are as follows:
     
    For the year ended January 31
    		  
    201
    8
    		    
    2017
    		    
    2016
    		  
                             
    Net income (loss) for the year from discontinued operations, net of tax
    		   $
    -
    		     $
    277,276
    		     $
    120,778
    		  
    Foreign exchange gain (loss)
    		    
    -
    		      
    (15,916
    		 )    
    (133,041
    		 )
    Gain on sale of subsidiary
    		    
    -
    		      
    (261,360
    		 )    
    -
    		  
    Accounts payable and accrued liabilities
    		    
    -
    		      
    -
    		      
    50,870
    		  
                             
    Operating cash flows from discontinued operations
    		   $
    -
    		     $
    -
    		     $
    38,607