Amarc Resources Ltd. Files 20-F for FY2024

TL;DR

Amarc Resources Ltd. 20-F filed: FY24 financials and exec pay details out. Check it.

AI Summary

Amarc Resources Ltd. filed its annual 20-F report for the period ending March 31, 2024. The company, focused on gold and silver ores, reported financial figures and disclosed executive compensation details. Key personnel like the Chief Financial Officer and VP of Exploration had their salaries and fees detailed for the fiscal years 2023 and 2024.

Why It Matters

This filing provides investors with a comprehensive overview of Amarc Resources Ltd.'s financial performance and executive compensation for the fiscal year ending March 31, 2024, crucial for understanding the company's operational health and governance.

Risk Assessment

Risk Level: medium — As a mining company, Amarc Resources Ltd. is subject to commodity price volatility, exploration risks, and regulatory changes, which can significantly impact its financial performance.

Key Numbers

• 2024-03-31 — Fiscal Year End (The reporting period for the 20-F filing.)
• 2023-04-01 — Fiscal Year Start (The beginning of the reporting period for the 20-F filing.)

Key Players & Entities

• AMARC RESOURCES LTD (company) — Filer of the 20-F report
• 0001175596 (company) — Central Index Key for Amarc Resources Ltd.
• 1040 WEST GEORGIA STREET (location) — Business and mailing address of Amarc Resources Ltd.
• VANCOUVER (location) — City of Amarc Resources Ltd.'s business and mailing address
• 604-684-6365 (phone_number) — Business phone number for Amarc Resources Ltd.
• United Mineral Services Ltd (company) — Mentioned in relation to executive compensation for fiscal years 2022-2024

FAQ

Key Financial Figures

• $1.07 billion — ny has total annual gross revenues of US$1.07 billion (as such amount is indexed for inflatio
• $1 billion — vious 3-year period, issued more than US$1 billion in non-convertible debt; or (d) the dat
• $1.00 — f exchange of the Canadian Dollar was US$1.00 = Canadian $1.35. Exchange rates publis
• $1.35 — Canadian Dollar was US$1.00 = Canadian $1.35. Exchange rates published by the Bank o

Filing Documents

• ahr_20f.htm (20-F) — 2588KB
• ahr_ex121.htm (EX-12.1) — 9KB
• ahr_ex122.htm (EX-12.2) — 11KB
• ahr_ex131.htm (EX-13.1) — 6KB
• ahr_ex132.htm (EX-13.2) — 5KB
• ahr_ex141.htm (EX-14.1) — 96KB
• ahr_20fimg19.jpg (GRAPHIC) — 70KB
• ahr_20fimg21.jpg (GRAPHIC) — 158KB
• ahr_20fimg18.jpg (GRAPHIC) — 64KB
• ahr_20fimg17.jpg (GRAPHIC) — 115KB
• ahr_20fimg16.jpg (GRAPHIC) — 47KB
• ahr_20fimg15.jpg (GRAPHIC) — 4KB
• ahr_20fimg13.jpg (GRAPHIC) — 7KB
• ahr_20faimg16.jpg (GRAPHIC) — 14KB
• ahr_20fimg22.jpg (GRAPHIC) — 67KB
• ahr_20fimg23.jpg (GRAPHIC) — 78KB
• ahr_20fimg24.jpg (GRAPHIC) — 82KB
• ahr_20fimg25.jpg (GRAPHIC) — 33KB
• ahr_20fimg26.jpg (GRAPHIC) — 71KB
• ahr_20fimg20.jpg (GRAPHIC) — 64KB
• 0001654954-24-009848.txt ( ) — 9348KB
• ahr-20240331.xsd (EX-101.SCH) — 91KB
• ahr-20240331_lab.xml (EX-101.LAB) — 331KB
• ahr-20240331_cal.xml (EX-101.CAL) — 60KB
• ahr-20240331_pre.xml (EX-101.PRE) — 258KB
• ahr-20240331_def.xml (EX-101.DEF) — 118KB
• ahr_20f_htm.xml (XML) — 915KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No T A B L E O F C O N T E N T S ITEM 1 IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 5 ITEM 2 OFFER STATISTICS AND EXPECTED TIMETABLE 5 ITEM 3 KEY INFORMATION 5 ITEM 4 INFORMATION ON THE COMPANY 13 ITEM 4A UNRESOLVED STAFF COMMENTS 43 ITEM 5 OPERATING AND FINANCIAL REVIEW AND PROSPECTS 43 ITEM 6 DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 48 ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 60 ITEM 8 FINANCIAL INFORMATION 62 ITEM 9 THE OFFER AND LISTING 63 ITEM 10 ADDITIONAL INFORMATION 65 ITEM 11

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 76 ITEM 12

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 76 ITEM 13 DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 76 ITEM 14 MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 76 ITEM 15

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 77 ITEM 16 [RESERVED] 78 ITEM 16A AUDIT COMMITTEE FINANCIAL EXPERT 78 ITEM 16B CODE OF ETHICS 78 ITEM 16C PRINCIPAL ACCOUNTANT FEES AND SERVICES 79 ITEM 16D EXEMPTIONS FROM LISTING STANDARDS FOR AUDIT COMMITTEES 79 ITEM 16E PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 79 ITEM 16F CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 80 ITEM 16G CORPORATE GOVERNANCE 80 ITEM 16H MINE SAFETY DISCLOSURE 80 ITEM 17

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 80 ITEM 18

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 80 ITEM 19 EXHIBITS 81 - 2 - Table of Contents GENERAL In this Annual Report on Form 20-F, all references to "we", "Amarc" or the "Company" refer to Amarc Resources Ltd. The Company uses the Canadian Dollar as its reporting currency. All references in this document to "Dollars" or "$" are expressed in Canadian Dollars ("CAD", "C$"), unless otherwise indicated. See also Item 3 – Key Information for more detailed currency and conversion information. Except as noted, the information set forth in this Annual Report is as of July 16, 2024 and all information included in this document should only be considered correct as of such date. Cautionary Note to Investors Concerning Forward-looking Statements This discussion includes certain statements that may be deemed "forward-looking statements". All such statements, other than statements of historical facts that address exploration plans and plans for enhanced relationships are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: Amarc's projects will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of Amarc's projects will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses a

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1 IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS A. DIRECTORS AND SENIOR MANAGEMENT Not applicable. B. ADVISERS Not applicable. C. AUDITORS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2 OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3 KEY INFORMATION A. SELECTED FINANCIAL DATA The following tables summarize selected financial data for Amarc extracted from the Company's audited financial statements for related fiscal years. The data should be read in conjunction with the Company's audited financial statements included as Item 18 in this Annual Report. The following table is derived from the financial statements of the Company which have been prepared in accordance with and using accounting policies in full compliance with International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") effective for each of the Company's fiscal year presented. - 5 - Table of Contents The following selected financial data is presented in thousands of Canadian Dollars. ($ 000's) 2024 2023 2022 2021 2020 Total assets $ 9,842 $ 6,091 $ 991 $ 1,560 $ 529 Total liabilities 8,015 6,556 1,620 1,533 1,504 Working capital surplus (deficit) 2,063 (367 ) (172 ) 418 (641 ) Share capital 67,236 65,229 65,229 64,745 64,342 Reserves 4,618 4,289 4,094 4,870 5,632 Accumulated deficit (70,027 ) (69,984 ) (69,952 ) (69,588 ) (70,949 ) Net assets (liabilities) 1,826 (465 ) (628 ) 27 (975 ) Shareholders' equity (deficiency) 1,826 (465 ) (628 ) 27 (975 ) ($ 000's, except per share amounts and number of shares) 2024 2023 2022 2021 2020 Interest and other income $ (371 ) $ (139 ) $ (19 ) $ (27 ) $ (6 ) General and administrative expenses 1,162 819 617 630 856 Exploration expenditures, net of METC* 12,432 14,752 5,386 1,396 1,637 Contributions pursuant to Option Agreements (13,179 ) (14,774 ) (5,539 ) (1,351 ) (1,491 ) Share-based payments 425 264 124 18 42 Other (426 ) (890 ) (205 ) 168 215 Gain on sale of mineral property

View Full Filing

View this 20-F filing on SEC EDGAR