Business
Amarc Resources : FY25 Fourth Quarter Financial Report
Amarc Resources : FY25 Fourth Quarter Financial
About this update from Amarc Resources Ltd.
[{"type":"text","content":"\n \n \n AMARC RESOURCES LTD.\n \n \n \n FINANCIAL STATEMENTS\n \n \n \n FOR THE YEARS ENDED\n \n \n \n MARCH 31, 2025, 2024 and 2023\n \n \n \n (Expressed in Canadian Dollars)\n \n \n \n REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM\n \n \n To the Board of Directors and the Shareholders of Amarc Resources Ltd., Opinion on the Financial Statements\n \n \n We have audited the accompanying statements of financial position of Amarc Resources Ltd. ('the Company'), as of March 31, 2025 and 2024, and the related statements of (income) loss, comprehensive income (loss), changes in equity and cash flows for each of the years in the three year period ended March 31, 2025, and the related notes (collectively referred to as the 'financial statements'). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as at March 31, 2025 and 2024 and its financial performance and its cash flows for each of the years in the three year period ended March 31, 2025, in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.\n \n \n Going Concern\n \n \n The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Without modifying our opinion, we draw attention to Note 1 in the financial statements which indicates that the Company has no current source of revenue, has incurred losses from inception and is dependent upon its ability to secure new sources of financing. These conditions, along with other matters as set forth in Note 1, indicate the existence of a material uncertainty that casts substantial doubt as to the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. This issue also constitutes, from our perspective, a critical audit matter.\n \n \n \n The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (i) relates to accounts or disclosures that are material to the financial statements; and (ii) involved, on our part, especially challenging...