ENTREE GOLD INC, 6-K filed on 4/27/2017
Report of Foreign Issuer
Document And Entity Information
3 Months Ended
Mar. 31, 2017
Document Information [Line Items]
 
Entity Registrant Name
ENTREE GOLD INC 
Entity Central Index Key
0001271554 
Trading Symbol
egi 
Current Fiscal Year End Date
--12-31 
Entity Filer Category
Smaller Reporting Company 
Entity Current Reporting Status
Yes 
Entity Voluntary Filers
No 
Entity Well-known Seasoned Issuer
No 
Entity Common Stock, Shares Outstanding (in shares)
172,802,967 
Document Type
6-K 
Document Period End Date
Mar. 31, 2017 
Document Fiscal Year Focus
2017 
Document Fiscal Period Focus
Q1 
Amendment Flag
false 
Consolidated Statements of Comprehensive Loss (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Exploration
$ 259 
$ 498 
General and administrative
926 
605 
Depreciation
Foreign exchange (gain) loss
(18)
434 
Operating loss
1,175 
1,546 
Interest income
(24)
(29)
Interest expense
(57)
(69)
Loss from equity investee
47 
46 
Operating loss before income taxes
1,255 
1,632 
Income tax expense (recovery)
   
   
Net loss
1,255 
1,632 
Foreign currency translation adjustment
(96)
(1,399)
Net loss and comprehensive loss
$ 1,159 
$ 233 
Net loss per common share
 
 
Basic (in dollars per share)
$ (0.01)
$ (0.01)
Fully diluted (in dollars per share)
$ (0.01)
$ (0.01)
Basic (in shares)
169,233 
149,105 
Fully diluted (in shares)
177,373 
149,105 
Total shares issued and outstanding (in shares)
172,803 
152,520 
Consolidated Balance Sheets (Current Period Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Dec. 31, 2016
Assets
 
 
Cash and cash equivalents
$ 17,550 
$ 13,391 
Receivables
14 
35 
Prepaid expenses
216 
275 
Total current assets
17,780 
13,701 
Equipment
64 
68 
Mineral property interests
39,179 
38,875 
Long-term investment
103 
146 
Reclamation deposits and other
530 
490 
Total assets
57,656 
53,280 
Liabilities
 
 
Accounts payable and accrued liabilities
517 
455 
Total current liabilities
517 
455 
Loan payable to Oyu Tolgoi LLC
7,408 
7,334 
Deferred revenue
23,167 
22,987 
Deferred income taxes
3,015 
3,015 
Total liabilities
34,107 
33,791 
Shareholders’ equity
 
 
Common stock, no par value, unlimited number authorized, 172,802,967 (December 31, 2016 – 153,045,408) issued and outstanding
184,861 
178,740 
Additional paid-in capital
20,520 
20,863 
Accumulated other comprehensive loss
(6,965)
(7,061)
Subscriptions received in advance
   
559 
Accumulated deficit
(174,867)
(173,612)
Total stockholders’ equity
23,549 
19,489 
Total liabilities and stockholders’ equity
$ 57,656 
$ 53,280 
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)
Mar. 31, 2017
Dec. 31, 2016
Common stock, no par value (in dollars per share)
$ 0 
$ 0 
Common stock, share issued (in shares)
172,802,967 
153,045,408 
common stock, shares outstanding (in shares)
172,802,967 
153,045,408 
Consolidated Statement of Stockholders' Equity (Unaudited) (USD $)
In Thousands, except Share data
Share Capital [Member]
Additional Paid-in Capital [Member]
AOCI Attributable to Parent [Member]
Retained Earnings [Member]
Total
Balance at Dec. 31, 2015
$ 177,206 
$ 20,517 
$ (7,778)
$ (168,949)
$ 20,996 
Balance (in shares) at Dec. 31, 2015
147,331,000 
 
 
 
 
Net loss for the period
 
 
 
(1,632)
(1,632)
Foreign currency translation
 
 
1,399 
 
1,399 
Issue of share capital – stock options (in shares)
60,000 
 
 
 
 
Issue of share capital – stock options
16 
(5)
 
 
11 
Stock based compensation
 
42 
 
 
42 
Issuance of share capital - Sandstorm (in shares)
5,129,000 
 
 
 
 
Issuance of share capital - Sandstorm
1,338 
   
   
   
1,338 
Balance at Mar. 31, 2016
178,560 
20,554 
(6,379)
(170,581)
22,154 
Balance (in shares) at Mar. 31, 2016
152,520,000 
 
 
 
 
Balance at Dec. 31, 2016
179,299 
20,863 
(7,061)
(173,612)
19,489 
Balance (in shares) at Dec. 31, 2016
153,045,000 
 
 
 
 
Net loss for the period
 
 
 
(1,255)
(1,255)
Foreign currency translation
 
 
96 
 
96 
Issuance of share capital (in shares)
18,529,000 
 
 
 
 
Issuance of share capital
5,179 
 
 
 
5,179 
Issue of share capital – stock options (in shares)
1,229,000 
 
 
 
1,228,000 
Issue of share capital – stock options
383 
(343)
 
 
40 
Balance at Mar. 31, 2017
$ 184,861 
$ 20,520 
$ (6,965)
$ (174,867)
$ 23,549 
Balance (in shares) at Mar. 31, 2017
172,803,000 
 
 
 
 
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities
 
 
Net loss
$ (1,255)
$ (1,632)
Items not affecting cash
 
 
Depreciation
Stock-based compensation
   
42 
Loss from equity investee
47 
46 
Interest expense
57 
69 
Unrealized foreign exchange (gains) losses
(122)
408 
(1,265)
(1,058)
Change in non-cash operating working capital
 
 
Decrease in receivables and prepaid expenses
80 
51 
(Increase) decrease in other assets
(39)
Increase (decrease) in accounts payable and accruals
62 
(916)
Deposit on metal credit obligation
   
(5,500)
(1,162)
(7,419)
Cash flows from investing activities
 
 
Purchase of equipment
   
(6)
Proceeds from sale of equipment
   
   
(3)
Cash flows from financing activities
 
 
Proceeds from issuance of capital stock
5,179 
   
Proceeds from issuance of capital stock – stock options
39 
11 
5,218 
11 
Increase (decrease) in cash and cash equivalents
4,056 
(7,411)
Cash and cash equivalents - beginning of period
13,391 
22,786 
Effect of exchange rate changes on cash
103 
171 
Cash and cash equivalents - end of period
$ 17,550 
$ 15,546 
Note 1 - Nature and Continuance of Operations
Nature of Operations [Text Block]
1
Nature and continuance of operations
 
Entrée Gold Inc. was incorporated under the laws of the Province of British Columbia on
July
19,
1995
and continued under the laws of the Yukon Territory on
January
22,
2003.
On
May
27,
2005,
Entrée Gold Inc. changed its governing jurisdiction from the Yukon Territory to British Columbia by continuing into British Columbia under the Business Corporations Act (British Columbia). The principal business activity of Entrée Gold Inc., together with its subsidiaries (collectively referred to as the "Company" or "Entrée"), is the exploration of mineral property interests. To date, the Company has not generated significant revenues from its operations and is considered to be in the exploration stage.
 
All amounts are expressed in United States dollars, except for certain amounts denoted in Canadian dollars ("C$").
 
These consolidated financial statements have been prepared on the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. The Company currently earns no operating revenues. Continued operations of the Company are dependent upon the Company’s ability to secure additional equity capital or receive other financial support, and in the longer term to generate profits from business operations. Management believes that the Company has sufficient working capital to maintain its operations for the next
12
months.
Note 2 - Basis of Presentation
Business Description and Basis of Presentation [Text Block]
2
Basis of presentation and functional currency translation
 
The interim period financial statements have been prepared by the Company in conformity with generally accepted accounting principles in the United States of America. The preparation of financial data is based on accounting principles and practices consistent with those used in the preparation of annual financial statements, and in the opinion of management these financial statements contain all adjustments necessary (consisting of normally recurring adjustments) to present fairly the financial information contained therein. Certain information and footnote disclosure normally included in the financial statements prepared in conformity with generally accepted accounting principles in the United States of America have been condensed or omitted. These interim period statements should be read together with the most recent audited financial statements and the accompanying notes for the year ended
December
31,
2016.
The results of operations for the
three
months ended
March
31,
2017
are not necessarily indicative of the results to be expected for the year ending
December
31,
2017.
 
The functional currency of Entrée Gold Inc. is the Canadian dollar. Accordingly, monetary assets and liabilities denominated in a foreign currency are translated at the exchange rate in effect at the balance sheet date while non-monetary assets and liabilities denominated in a foreign currency are translated at historical rates. Revenue and expense items denominated in a foreign currency are translated at exchange rates prevailing when such items are recognized in the statement of comprehensive loss. Exchange gains or losses arising on translation of foreign currency items are included in the statement of comprehensive loss. The functional currency of Entrée Gold Inc.’s significant subsidiaries is the United States dollar. Upon translation into Canadian dollars for consolidation, monetary assets and liabilities are translated at the exchange rate in effect at the balance sheet date while non-monetary assets and liabilities are translated at historical rates. Revenue and expense items are translated at exchange rates prevailing when such items are recognized in the statement of comprehensive loss. Exchange gains or losses arising on translation of foreign currency items are included in the statement of comprehensive loss.
 
The Company follows the current rate method of translation with respect to its presentation of these consolidated financial statements in the reporting currency, which is the United States dollar. Accordingly, assets and liabilities are translated into United States dollars at the period-end exchange rates while revenue and expenses are translated at the prevailing exchange rates during the period. Related exchange gains and losses are included in a separate component of stockholders’ equity as accumulated other comprehensive income.
Note 3 - Significant Accounting Policies
Significant Accounting Policies [Text Block]
3
Significant accounting policies
 
These consolidated financial statements follow the same significant accounting principles as those outlined in the notes to the audited consolidated financial statements for the year ended
December
31,
2016.
Note 4 - Equipment
Property, Plant and Equipment Disclosure [Text Block]
4
Equipment
 
   
March 31, 2017
   
December 31, 2016
 
   
Cost
   
Accumulated depreciation
   
Net book value
   
Cost
   
Accumulated depreciation
   
Net book value
 
Office equipment   $
46
    $
39
    $
7
    $
46
    $
38
    $
8
 
Computer equipment    
210
     
181
     
29
     
208
     
177
     
31
 
Field equipment    
125
     
101
     
24
     
124
     
99
     
25
 
Buildings    
42
     
38
     
4
     
41
     
37
     
4
 
    $
423
    $
359
    $
64
    $
419
    $
351
    $
68
 
Note 5 - Mineral Property Interests
Mineral Property Interests [Text Block]
5
Mineral property interests
 
   
March 31, 2017
   
December 31, 2016
 
Ann Mason Project (a)   $
38,285
    $
37,988
 
Other (b)    
894
     
887
 
    $
39,179
    $
38,875
 
 
Title to mineral property interests involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyancing history characteristics of many mineral property interests. The Company has investigated title to its mineral property interests and, except as otherwise disclosed below, to the best of its knowledge, title to the mineral property interests remains in good standing.
 
The Company’s
two
principal assets are the Ann Mason project (the "Ann Mason Project") in Nevada and its interest in the Entrée/Oyu Tolgoi LLC joint venture property in Mongolia (Note
6).
 
a)       Ann Mason, Nevada, United States
 
The Ann Mason Project is defined by a series of both unpatented lode claims on public land administered by the Bureau of Land Management, and title to patented lode claims. The project area includes the Ann Mason and the Blue Hill deposits, several early-stage copper porphyry targets including the Blackjack IP, Blackjack Oxide, Roulette and Minnesota targets, and the Minnesota and Shamrock copper skarn targets.
 
Certain of the unpatented lode claims peripheral to the Ann Mason and Blue Hill deposits are leased to the Company pursuant to a mining lease and option to purchase agreement ("MLOPA") with a Nevada limited liability company. Under the MLOPA, the Company has the option to purchase the claims for
$500,000,
which, if exercised, will be subject to a
3%
net smelter returns ("NSR") royalty (which
may
be bought down to a
1%
NSR royalty for
$2
million). The MLOPA also provides for annual advance minimum royalty payments of
$27,500
which commenced in
2011
and will continue until the commencement of sustained commercial production. The advance payments will be credited against future royalty payments or the buy down of the royalty.
 
In
September
2009,
the Company entered into an agreement whereby the Company
may
acquire an
80%
interest in certain unpatented lode claims to the southwest of the Ann Mason and Blue Hill deposits. In order to acquire its interest, the Company must: (a) incur expenditures of
$1,000,000,
make cash payments of
$140,000
and issue
85,000
common shares of the Company within
three
years (completed); (b) make aggregate advance royalty payments totalling
$375,000
between the
fifth
and
tenth
anniversaries of the agreement
($150,000
of which has been paid); and (c) deliver a bankable feasibility study before the
tenth
anniversary of the agreement.
 
In
February
2013,
the Company entered into an agreement with Sandstorm Gold Ltd. ("Sandstorm") whereby the Company granted Sandstorm a
0.4%
NSR royalty over certain of the unpatented lode claims, including the claims covering the Ann Mason and Blue Hill deposits, in return for an upfront payment of
$5
million (the "Sandstorm NSR Payment") which was recorded as a recovery to acquisition costs.
 
In addition, certain of the patented lode claims peripheral to the Ann Mason and Blue Hill deposits are subject to a
2%
NSR royalty.
 
b)       Other Properties
 
The Company also has interests in other properties in Mongolia (Shivee West), Australia (Blue Rose), the United States (Lordsburg) and Peru (Cañariaco NSR royalty). During fiscal
2014,
the Company recorded an impairment of
$552,095
against these properties.
Note 6 - Long-term Investments
Long-term Investments [Text Block]
6
Long-term investments
 
Entrée/Oyu Tolgoi JV Property, Mongolia
 
The Company has a carried
20%
or
30%
(depending on the depth of mineralization) joint venture interest in a large, prospective land package that includes
two
of the Oyu Tolgoi deposits in the South Gobi region of Mongolia (the "Entrée/Oyu Tolgoi JV Property"). The Entrée/Oyu Tolgoi JV Property is comprised of the eastern portion of the Shivee Tolgoi mining licence, which hosts the Hugo North Extension copper-gold deposit, and all of the Javhlant mining licence, which hosts the Heruga copper-gold-molybdenum deposit. The Shivee Tolgoi and Javhlant mining licences were granted by the Mineral Resources Authority of Mongolia in
October
2009.
Title to the
two
licences is held by the Company.
 
In
October
2004,
the Company entered into an arm’s-length Equity Participation and Earn-In Agreement (the "Earn In Agreement") with Turquoise Hill Resource Ltd. ("Turquoise Hill"). Under the Earn-In Agreement, Turquoise Hill agreed to purchase equity securities of the Company, and was granted the right to earn an interest in what is now the Entrée/Oyu Tolgoi JV Property. Most of Turquoise Hill’s rights and obligations under the Earn-In Agreement were subsequently assigned by Turquoise Hill to what was then its wholly-owned subsidiary, Oyu Tolgoi LLC ("OTLLC"). The Government of Mongolia subsequently acquired a
34%
interest in OTLLC from Turquoise Hill.
 
On
June
30,
2008,
OTLLC gave notice that it had completed its earn-in obligations by expending a total of
$35
million on exploration of the Entrée/Oyu Tolgoi JV Property. OTLLC earned an
80%
interest in all minerals extracted below a sub-surface depth of
560
metres from the Entrée/Oyu Tolgoi JV Property and a
70%
interest in all minerals extracted from surface to a depth of
560
metres from the Entrée/Oyu Tolgoi JV Property. In accordance with the Earn-In Agreement, the Company and OTLLC formed a joint venture (the "Entrée/Oyu Tolgoi JV") on terms annexed to the Earn-In Agreement (the "JVA").
 
The portion of the Shivee Tolgoi mining licence outside of the Entrée/Oyu Tolgoi JV Property, Shivee West, is
100%
owned by the Company, but is subject to a right of
first
refusal by OTLLC. In
October
2015,
the Company entered into a License Fees Agreement with OTLLC, pursuant to which the parties agreed to negotiate in good faith to amend the JVA to include Shivee West in the definition of Entrée/Oyu Tolgoi JV Property. The parties also agreed that the annual licence fees for Shivee West would be for the account of each joint venture participant in proportion to their respective interests, with OTLLC contributing the Company’s
20%
share charging interest at prime plus
2%
(Note
7).
 
The conversion of the original Shivee Tolgoi and Javhlant exploration licences into mining licences was a condition precedent to the Investment Agreement (the "Oyu Tolgoi Investment Agreement") between Turquoise Hill, OTLLC, the Government of Mongolia and Rio Tinto International Holdings Limited. The licences are part of the contract area covered by the Oyu Tolgoi Investment Agreement, although the Company is not a party to the Oyu Tolgoi Investment Agreement. The Shivee Tolgoi and Javhlant mining licences were each issued for a
30
year term and have rights of renewal for
two
further
20
year terms.
 
As of
March
31,
2017,
the Entrée/Oyu Tolgoi JV had expended approximately
$29.0
million to advance the Entrée/Oyu Tolgoi JV Property. Under the terms of the Entrée/Oyu Tolgoi JV, OTLLC contributed on behalf of the Company its required participation amount charging interest at prime plus
2%
(Note
7).
 
Investment – Entrée/Oyu Tolgoi JV Property
 
The Company accounts for its interest in the Entrée/Oyu Tolgoi JV as a
20%
equity investment. The Company’s share of the loss of the joint venture was
$0.0
million for the period ended
March
31,
2017
(2016
-
$0.1
million) plus accrued interest expense of
$0.1
million for the period ended
March
31,
2017
(2016
-
$0.1
million).
 
The Entrée/Oyu Tolgoi JV investment carrying value at
March
31,
2017
was
$0.1
million
(December
31,
2016
-
$0.1
million) and was recorded in long-term investment.
Note 7 - Loans Payable to Oyu Tolgoi
Debt Disclosure [Text Block]
7
Loan payable to Oyu Tolgoi
 
Under the terms of the Entrée/Oyu Tolgoi JV (Note
6),
OTLLC will contribute funds to approved joint venture programs and budgets on the Company’s behalf. Interest on each loan advance shall accrue at an annual rate equal to OTLLC’s actual cost of capital or the prime rate of the Royal Bank of Canada, plus
two
percent
(2%)
per annum, whichever is less, as at the date of the advance. The loan will be repayable by the Company monthly from
ninety
percent
(90%)
of the Company’s share of available cash flow from the Entrée/Oyu Tolgoi JV. In the absence of available cash flow, the loan will not be repayable. The loan is not expected to be repaid within
one
year.
Note 8 - Deferred Revenue
Deferred Revenue Disclosure [Text Block]
8
Deferred revenue
 
In
February
2013,
the Company entered into an equity participation and funding agreement (the
"2013
Agreement") with Sandstorm whereby Sandstorm provided an upfront deposit (the "Deposit") of
$40
million. The Company will use future payments that it receives from its mineral property interests to purchase and deliver metal credits to Sandstorm, in amounts that are indexed to the Company’s share of gold, silver and copper production from the current Entrée/Oyu Tolgoi JV Property. Upon the delivery of metal credits, Sandstorm will also make the cash payment outlined below. In addition, the
2013
Agreement provided for a partial refund of the Deposit and a pro rata reduction in the number of metal credits deliverable to Sandstorm in the event of a partial expropriation of Entrée’s economic interest, contractually or otherwise, in the current Entrée/Oyu Tolgoi JV Property.
 
On
February
23,
2016,
the Company and Sandstorm entered into an Agreement to Amend, whereby the Company refunded
17%
of the Deposit
($6.8
million) (the "Refund") in cash and shares thereby reducing the Deposit to
$33.2
million for a
17%
reduction in the metal credits that the Company is required to deliver to Sandstorm. At closing on
March
1,
2016,
the parties entered into an Amended and Restated Equity Participation and Funding Agreement (the "Amended Sandstorm Agreement"). Under the terms of the Amended Sandstorm Agreement, the Company will purchase and deliver gold, silver and copper credits equivalent to:
 
·
   
28.1%
of Entrée’s share of gold and silver, and
2.1%
of Entrée’s share of copper, produced from the Shivee Tolgoi mining licence (excluding Shivee West); and
·
   
21.3%
of Entrée’s share of gold and silver, and
2.1%
of Entrée’s share of copper, produced from the Javhlant mining licence.
 
Upon the delivery of metal credits, Sandstorm will make a cash payment to the Company equal to the lesser of the prevailing market price and
$220
per ounce of gold,
$5
per ounce of silver and
$0.50
per pound of copper (subject to inflation adjustments). After approximately
8.6
million ounces of gold,
40.3
million ounces of silver and
9.1
billion pounds of copper have been produced from the entire current Entrée/Oyu Tolgoi JV Property the cash payment will be increased to the lesser of the prevailing market price and
$500
per ounce of gold,
$10
per ounce of silver and
$1.10
per pound of copper (subject to inflation adjustments). To the extent that the prevailing market price is greater than the amount of the cash payment, the difference between the
two
will be credited against the Deposit (the net amount of the Deposit being the "Unearned Balance").
 
This arrangement does not require the delivery of actual metal, and the Company
may
use revenue from any of its assets to purchase the requisite amount of metal credits.
 
Under the Amended Sandstorm Agreement, Sandstorm has a right of
first
refusal, subject to certain exceptions, on future production-based funding agreements. The Amended Sandstorm Agreement also contains other customary terms and conditions, including representations, warranties, covenants and events of default. The initial term of the Amended Sandstorm Agreement is
50
years, subject to successive
10
-year extensions at the discretion of Sandstorm.
 
In addition, the Amended Sandstorm Agreement provides that the Company will not be required to make any further refund of the Deposit if Entrée’s economic interest is reduced by up to and including
17%.
If there is a reduction of greater than
17%
up to and including
34%,
the Amended Sandstorm Agreement provides the Company with the ability to refund a corresponding portion of the Deposit in cash or common shares of the Company or any combination of the
two
at the Company’s election, in which case there would be a further corresponding reduction in deliverable metal credits. If the Company elects to refund Sandstorm with common shares of the Company, the value of each common share shall be equal to the volume weighted average price for the
five
(5)
trading days immediately preceding the
90
th
day after the reduction in Entrée’s economic interest. In no case will Sandstorm become a "control person" under the Amended Sandstorm Agreement. In the event an issuance of shares would cause Sandstorm to become a "control person", the maximum number of shares will be issued, and with respect to the value of the remaining shares,
50%
will not be refunded (and there will not be a corresponding reduction in deliverable metal credits) and the remaining
50%
will be refunded by the issuance of shares in tranches over time, such that the number of shares that Sandstorm holds does not reach or exceed
20%.
All shares will be priced in the context of the market at the time they are issued.
 
In the event of a full expropriation, the remainder of the Unearned Balance after the foregoing refunds must be returned in cash. 
 
For accounting purposes, the Deposit is accounted for as deferred revenue on the balance sheet and the original Deposit was recorded at the historical amount of
C$40.0
million. As a result of the Amended Sandstorm Agreement, the deferred revenue amount was adjusted to reflect the
$6.8
million Refund which was recorded at the foreign exchange amount at the date of the Refund resulting in a net balance of
C$30.9
million. This amount is subject to foreign currency fluctuations upon conversion to U.S. dollars at each reporting period.
 
The
$6.8
million Refund was paid with
$5.5
million in cash and the issuance of
$1.3
million of common shares of the Company. On
March
1,
2016,
the Company issued
5,128,604
common shares to Sandstorm at a price of
C$0.3496
per common share pursuant to the Agreement to Amend.
Note 9 - Share Capital
Shareholders' Equity and Share-based Payments [Text Block]
9
Share capital
 
The Company’s authorized share capital consists of unlimited common shares without par value. At
March
31,
2017,
the Company had
172,802,967
(December
31,
2016
153,045,408
)
shares issued and outstanding.
 
a)
Private placement
 
In
January
2017,
the Company closed a non-brokered private placement in
two
tranches issuing a total of
18,529,484
units at a price of
C$0.41
per unit for aggregate gross proceeds of
C$7.6
million. Each unit consists of
one
common share of the Company and
one
-half of
one
transferable Warrant. Each whole Warrant entitles the holder to acquire
one
additional common share of the Company at a price of 
C$0.65
 per share for a period of
5
years.
No
commissions or finders' fees were paid in connection with the private placement. The securities issued in connection with the private placement are subject to a hold period expiring
four
months plus
one
day after the issuance of the securities.
 
b)
Share purchase warrants
 
At
March
31,
2017,
the following share purchase warrants were outstanding:
 
Number of share purchase warrants (000’s)
   
Price per share C$
   
Expiry date
 
8,655
     
0.65
   
January 10, 2022
 
610
     
0.65
   
January 12, 2022
Note 10 - Stock-based Compensation
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
10
Stock-based compensation
 
The Company provides stock-based compensation to its directors, officers, employees, and consultants through grants of stock options.
 
a)
Stock options
 
   
March 31, 2017
 
   
Number of shares

(000’s)
   
Weighted average exercise price C$
 
Outstanding – beginning of period    
12,010
    $
0.48
 
Exercised    
(1,228
)    
0.31
 
Forfeited/expired    
(2,542
)    
0.78
 
Outstanding – end of period    
8,240
    $
0.39
 
 
 
At
March
31,
2017,
the following stock options were outstanding:
 
Number of shares
(000’s)
 
Vested (000’s)
   
Aggregate intrinsic value C$ (000’s)
   
Price per share C$
 
Expiry date
 
685    
685
     
116
   
0.21
0.73
   
Sep 2017
 
2,845    
2,845
     
487
   
0.30
0.56
   
Mar – Dec 2018
 
935    
935
     
411
   
 
0.21
 
   
Dec 2019
 
1,370    
1,370
     
423
   
0.33
0.38
   
Jun – Dec 2020
 
2,405    
2,405
     
557
   
0.39
0.42
   
Mar – Nov 2021
 
8,240    
8,240
     
1,994
   
 
 
 
   
 
 
 
For the period ended
March
31,
2017,
the total stock-based compensation charges related to nil options granted and vested to officers, employees, directors and consultants was
$0.0
million
(2016
-
$0.1
million).
Note 11 - Segmented Information
Segment Reporting Disclosure [Text Block]
11
Segmented information
 
The Company operates in
one
business segment being the exploration of mineral property interests. The Company’s assets are geographically segmented as follows:
 
   
March 31, 2017
   
December 31, 2016
 
United States   $
39,465
    $
39,169
 
Canada    
17,416
     
13,327
 
Other    
775
     
784
 
    $
57,656
    $
53,280
 
Note 12 - Exploration Costs
Oil and Gas Exploration and Production Industries Disclosures [Text Block]
12
Exploration costs
 
   
2017
   
2016
 
United States   $
194
    $
271
 
Mongolia    
41
     
189
 
Other    
24
     
38
 
    $
259
    $
498
 
Note 13 - Financial Instruments
Financial Instruments Disclosure [Text Block]
13
Financial instruments
 
a)
Financial instruments
 
The Company's financial instruments generally consist of cash and cash equivalents, receivables, deposits, accounts payable and accrued liabilities and loans payable. It is management's opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. The fair value of these financial instruments approximates their carrying values.
 
The Company is exposed to currency risk by incurring certain expenditures in currencies other than the Canadian dollar. In addition, as certain of the Company’s consolidated subsidiaries’ functional currency is the United States dollar, the Company is exposed to foreign currency translation risk. The Company does not use derivative instruments to reduce this currency risk.
 
b)
Fair value classification of financial instruments
 
Fair value measurement is based on a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes
three
levels of inputs that
may
be used to measure fair value which are:
 
Level
1
— Quoted prices that are available in active markets for identical assets or liabilities.
 
Level
2
— Quoted prices in active markets for similar assets that are observable.
 
Level
3
— Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
At
March
31,
2017,
the Company had Level
1
financial instruments, consisting of cash and cash equivalents, with a fair value of
$17.6
million.
Note 14 - Supplemental Cash Flow Information
Cash Flow, Supplemental Disclosures [Text Block]
14
Supplemental cash flow information
 
There were no significant non-cash transactions during the periods ended
March
31,
2017
and
2016.
Note 15 - Commitments and Contingencies
Commitments Disclosure [Text Block]
15
Commitments and contingencies
 
As at
March
31,
2017,
the Company had the following commitments:
 
   
Total
   
Less than 1 year
   
1-2 years
   
Thereafter
 
Lease commitments   $
568
    $
64
    $
213
    $
291
 
 
Under the terms of the Amended Sandstorm Agreement, the Company
may
be subject to a contingent liability if certain events occur (Note
8).
Note 17 - Subsequent Events
Subsequent Events [Text Block]
17
Subsequent events
 
Strategic Reorganization
 
The Company announced on
February
28,
2017
a strategic reorganization of its business (the "Arrangement"). Pursuant to the Arrangement, Entrée’s Ann Mason and Lordsburg projects (the "U.S. Projects") will be transferred to a newly incorporated company, Mason Resources Corp. ("Mason Resources"). Shareholders of Entrée will receive common shares in Mason Resources ("Mason Common Shares") in proportion to their shareholdings in Entrée. There will be no change to shareholders’ existing interests in Entrée.
 
It is intended that, as part of the Arrangement, Entrée shareholders will receive Mason Common Shares by way of a share exchange, pursuant to which each existing share of Entrée is exchanged for
one
"new" share of Entrée and
0.45
of a Mason Common Share (the "Consideration"). Optionholders and warrantholders of Entrée will receive replacement options and warrants of Entrée and options and warrants of Mason Resources which are proportionate to, and reflective of the terms of, their existing options and warrants of Entrée. The reorganization will be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Plan of Arrangement") and must be approved by the Supreme Court of British Columbia (the "Court") and by the affirmative vote of
66
2/3%
of Entrée shareholders, as well as Entrée shareholders, optionholders and warrantholders (collectively, the "Securityholders") voting together as a single class. An Annual General and Special Meeting of Securityholders to approve, among other things, the Arrangement, will be held on
May
1,
2017
(the "Meeting").
 
On
April
25,
2017,
the Toronto Stock Exchange (“TSX”) conditionally approved the listing of the Mason Common Shares. Mason Resources does not have any of its securities listed or quoted, and has not applied to list or quote any of its securities, on a U.S. marketplace.
 
On
March
24,
2017,
the Company filed and mailed its Information Circular (the "Circular") and other materials for the Meeting, which are available on SEDAR at www.sedar.com and on the Company’s website at www.entreegold.com. The Circular contains, among other things, details concerning the Arrangement, reasons the Company’s board of directors has recommended the Arrangement, requirements for completion of the Arrangement, the procedure for receiving the Consideration under the Arrangement, how registered shareholders
may
exercise their dissent rights, procedures for voting at the Meeting and other matters. Subject to receipt of all required Securityholder, Court and regulatory approvals, the Arrangement is expected to become effective on or about
May
9,
2017.
Note 4 - Equipment (Tables)
Property, Plant and Equipment [Table Text Block]
   
March 31, 2017
   
December 31, 2016
 
   
Cost
   
Accumulated depreciation
   
Net book value
   
Cost
   
Accumulated depreciation
   
Net book value
 
Office equipment   $
46
    $
39
    $
7
    $
46
    $
38
    $
8
 
Computer equipment    
210
     
181
     
29
     
208
     
177
     
31
 
Field equipment    
125
     
101
     
24
     
124
     
99
     
25
 
Buildings    
42
     
38
     
4
     
41
     
37
     
4
 
    $
423
    $
359
    $
64
    $
419
    $
351
    $
68
 
Note 5 - Mineral Property Interests (Tables)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]
   
March 31, 2017
   
December 31, 2016
 
Ann Mason Project (a)   $
38,285
    $
37,988
 
Other (b)    
894
     
887
 
    $
39,179
    $
38,875
 
Note 9 - Share Capital (Tables)
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
Number of share purchase warrants (000’s)
   
Price per share C$
   
Expiry date
 
8,655
     
0.65
   
January 10, 2022
 
610
     
0.65
   
January 12, 2022
Note 10 - Stock-based Compensation (Tables)
   
March 31, 2017
 
   
Number of shares

(000’s)
   
Weighted average exercise price C$
 
Outstanding – beginning of period    
12,010
    $
0.48
 
Exercised    
(1,228
)    
0.31
 
Forfeited/expired    
(2,542
)    
0.78
 
Outstanding – end of period    
8,240
    $
0.39
 
Number of shares
(000’s)
 
Vested (000’s)
   
Aggregate intrinsic value C$ (000’s)
   
Price per share C$
 
Expiry date
 
685    
685
     
116
   
0.21
0.73
   
Sep 2017
 
2,845    
2,845
     
487
   
0.30
0.56
   
Mar – Dec 2018
 
935    
935
     
411
   
 
0.21
 
   
Dec 2019
 
1,370    
1,370
     
423
   
0.33
0.38
   
Jun – Dec 2020
 
2,405    
2,405
     
557
   
0.39
0.42
   
Mar – Nov 2021
 
8,240    
8,240
     
1,994
   
 
 
 
   
 
 
Note 11 - Segmented Information (Tables)
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
March 31, 2017
   
December 31, 2016
 
United States   $
39,465
    $
39,169
 
Canada    
17,416
     
13,327
 
Other    
775
     
784
 
    $
57,656
    $
53,280
 
Note 12 - Exploration Costs (Tables)
Schedule of Exploration Costs Expensed Disclosure [Table Text Block]
   
2017
   
2016
 
United States   $
194
    $
271
 
Mongolia    
41
     
189
 
Other    
24
     
38
 
    $
259
    $
498
 
Note 15 - Commitments and Contingencies (Tables)
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
   
Total
   
Less than 1 year
   
1-2 years
   
Thereafter
 
Lease commitments   $
568
    $
64
    $
213
    $
291
 
Note 4 - Equipment - Equipment (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Dec. 31, 2016
Cost
$ 423 
$ 419 
Accumulated depreciation
359 
351 
Net book value
64 
68 
Office Equipment [Member]
 
 
Cost
46 
46 
Accumulated depreciation
39 
38 
Net book value
Computer Equipment [Member]
 
 
Cost
210 
208 
Accumulated depreciation
181 
177 
Net book value
29 
31 
Field Equipment [Member]
 
 
Cost
125 
124 
Accumulated depreciation
101 
99 
Net book value
24 
25 
Building [Member]
 
 
Cost
42 
41 
Accumulated depreciation
38 
37 
Net book value
$ 4 
$ 4 
Note 5 - Mineral Property Interests (Details Textual) (USD $)
1 Months Ended 3 Months Ended 75 Months Ended 1 Months Ended 94 Months Ended 12 Months Ended
Feb. 28, 2013
Sandstorm [Member]
Mar. 31, 2017
Certain Unpatented Lode Claims Peripheral to the Ann Mason and Blue Hill Deposits [Member]
MLOPA [Member]
Mar. 31, 2017
Certain Unpatented Lode Claims Peripheral to the Ann Mason and Blue Hill Deposits [Member]
MLOPA [Member]
Mar. 31, 2017
Certain Unpatented Lode Claims Peripheral to the Ann Mason and Blue Hill Deposits [Member]
MLOPA [Member]
Maximum [Member]
Mar. 31, 2017
Certain Unpatented Lode Claims Peripheral to the Ann Mason and Blue Hill Deposits [Member]
MLOPA [Member]
Minimum [Member]
Sep. 30, 2009
Certain Unpatented Lode Claims to the Southwest of the Ann Mason and Blue Hill Deposits [Member]
Agreement Whereby the Company May Acquire an Interest in Mineral Properties [Member]
Mar. 31, 2017
Certain Unpatented Lode Claims to the Southwest of the Ann Mason and Blue Hill Deposits [Member]
Agreement Whereby the Company May Acquire an Interest in Mineral Properties [Member]
Mar. 31, 2017
Certain Patented Lode Claims Peripheral to the Ann Mason and Blue Hill Deposits [Member]
Dec. 31, 2014
Other Properties [Member]
Mineral Property Interests, Option to Purchase
 
$ 500,000 
$ 500,000 
 
 
 
 
 
 
Mineral Property Interests, Option to Purchase, Net Smelter Returns Royalty Rate
 
 
 
3.00% 
1.00% 
 
 
 
 
Mineral Property Interests, Option to Purchase, Net Smelter Returns Royalty Rate, Payment Required to Bring Down the Rate to the Minimum
 
2,000,000 
 
 
 
 
 
 
 
Mineral Property Interests, Option to Purchase, Net Smelter Returns Royalty, Annual Advance Minimum Royalty Payments
 
 
27,500 
 
 
 
 
 
 
Mineral Property Interests, Option to Acquire, Percentage
 
 
 
 
 
80.00% 
 
 
 
Mineral Property Interests, Option to Acquire, Expenditures Required to Incur Within Three Years
 
 
 
 
 
1,000,000 
 
 
 
Mineral Property Interests, Option to Acquire, Cash Payments Required Within Three Years
 
 
 
 
 
140,000 
 
 
 
Mineral Property Interests, Option to Acquire, Common Shares Required to Issue Within Three Years
 
 
 
 
 
85,000 
 
 
 
Mineral Property Interests, Option to Acquire, Aggregate Advance Royalty Payments Required Between the Fifth and Tenth Anniversaries of the Agreement
 
 
 
 
 
375,000 
 
 
 
Mineral Property Interests, Option to Acquire, Aggregate Advance Royalty Payments, Actual
 
 
 
 
 
 
150,000 
 
 
Mineral Property Interests Agreement, NSR Royalty
0.40% 
 
 
 
 
 
 
 
 
Mineral Property Interests, NSR Royalty, Upfront Payment Recorded as a Recovery to Acquisition Costs
5,000,000 
 
 
 
 
 
 
 
 
Mineral Property Interests, NSR Royalty Rate
 
 
 
 
 
 
 
2.00% 
 
Asset Impairment Charges
 
 
 
 
 
 
 
 
$ 552,095 
Note 5 - Mineral Property Interests - Mineral Properties (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Dec. 31, 2016
Capitalized mineral property acquisition cost
$ 39,179 
$ 38,875 
Ann Mason [Member]
 
 
Capitalized mineral property acquisition cost
38,285 
37,988 
Other [Member]
 
 
Capitalized mineral property acquisition cost
$ 894 
$ 887 
Note 6 - Long-term Investments (Details Textual) (USD $)
3 Months Ended 1 Months Ended 3 Months Ended 45 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Shivee Tolgoi and Javhlant [Member]
Mar. 31, 2017
Shivee Tolgoi [Member]
Oct. 30, 2015
OTLLC [Member]
Prime Rate [Member]
Mar. 31, 2017
OTLLC [Member]
Prime Rate [Member]
Mar. 31, 2017
Entree/Oyu Tolgoi JV Property [Member]
Mar. 31, 2016
Entree/Oyu Tolgoi JV Property [Member]
Mar. 31, 2017
Entree/Oyu Tolgoi JV Property [Member]
Long-term Investment [Member]
Dec. 31, 2016
Entree/Oyu Tolgoi JV Property [Member]
Long-term Investment [Member]
Jun. 30, 2008
Entree/Oyu Tolgoi JV Property [Member]
OTLLC [Member]
Mar. 31, 2017
Entree/Oyu Tolgoi JV Property [Member]
Minimum [Member]
Mar. 31, 2017
Entree/Oyu Tolgoi JV Property [Member]
Maximum [Member]
Oct. 31, 2004
OTLLC [Member]
The Government of Mongolia [Member]
Equity Method Investment, Ownership Percentage
 
 
 
 
 
 
 
 
 
 
 
20.00% 
30.00% 
34.00% 
Exploration Expense, Mining
 
 
 
 
 
 
 
 
 
 
$ 35,000,000 
 
 
 
Percentage Interest Owned in All Minerals Extracted Below a Sub-surface Depth of 560 Metres
 
 
 
 
 
 
 
 
 
 
80.00% 
 
 
 
Percentage Interest Owned in All Minerals Extracted from Surface to a Depth of 560 Metres
 
 
 
 
 
 
 
 
 
 
70.00% 
 
 
 
Debt Instrument, Basis Spread on Variable Rate
 
 
 
 
2.00% 
2.00% 
 
 
 
 
 
 
 
 
Mining Licenses, Term
 
 
30 years 
 
 
 
 
 
 
 
 
 
 
 
Mining Licenses, Number of Renewal Rights
 
 
 
 
 
 
 
 
 
 
 
 
 
Mining Licenses, Renewal Rights, Renewal Term
 
 
20 years 
 
 
 
 
 
 
 
 
 
 
 
Joint Venture Property, Cumulative Expenditures
 
 
 
 
 
 
29,000,000 
 
 
 
 
 
 
 
Income (Loss) from Equity Method Investments
(47,000)
(46,000)
 
 
 
 
(100,000)
 
 
 
 
 
 
Accrued Interest Expense
 
 
 
 
 
 
100,000 
100,000 
 
 
 
 
 
 
Equity Method Investments
 
 
 
 
 
 
 
 
$ 100,000 
$ 100,000 
 
 
 
 
Ownership in Mining License
 
 
 
100.00% 
 
 
 
 
 
 
 
 
 
 
Note 7 - Loans Payable to Oyu Tolgoi (Details Textual) (OTLLC [Member])
1 Months Ended 3 Months Ended
Oct. 30, 2015
Mar. 31, 2017
Financing Arrangements Related to Licenses, Monthly Repayments of Loans, Percentage of Available Cash Flow from Joint Venture
 
90.00% 
Prime Rate [Member]
 
 
Debt Instrument, Basis Spread on Variable Rate
2.00% 
2.00% 
Note 8 - Deferred Revenue (Details Textual)
0 Months Ended 0 Months Ended 0 Months Ended
Mar. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Feb. 28, 2013
Sandstorm [Member]
The 2013 Agreement [Member]
CAD ($)
Mar. 1, 2016
Sandstorm [Member]
Equity Participation and Funding Agreement, Agreement to Amend [Member]
Feb. 23, 2016
Sandstorm [Member]
Equity Participation and Funding Agreement, Agreement to Amend [Member]
USD ($)
Mar. 1, 2016
Sandstorm [Member]
Equity Participation and Funding Agreement, Agreement to Amend [Member]
CAD ($)
Feb. 23, 2016
Sandstorm [Member]
Equity Participation and Funding Agreement, Agreement to Amend [Member]
USD ($)
Feb. 23, 2016
Sandstorm [Member]
Equity Participation and Funding Agreement, Agreement to Amend [Member]
CAD ($)
Mar. 1, 2016
Sandstorm [Member]
Amended Sandstorm Agreement [Member]
Mar. 1, 2016
Sandstorm [Member]
Amended Sandstorm Agreement [Member]
Mar. 1, 2016
Sandstorm [Member]
Amended Sandstorm Agreement [Member]
Maximum [Member]
USD ($)
Mar. 1, 2016
Sandstorm [Member]
Amended Sandstorm Agreement [Member]
Shivee Tolgoi Mining License, Excluding Shivee West [Member]
Mar. 1, 2016
Sandstorm [Member]
Amended Sandstorm Agreement [Member]
Javhlant Mining License [Member]
Deferred Revenue
$ 23,167,000 
$ 22,987,000 
$ 40,000,000 
 
 
 
$ 33,200,000 
$ 30,900,000 
 
 
 
 
 
Equity Participation and Funding Agreement, Percentage of Deposit Refunded
 
 
 
 
17 years 
 
 
 
 
 
 
 
 
Equity Participation and Funding Agreement, Deposit Refunded During Period
 
 
 
 
6,800,000 
 
 
 
 
 
 
 
 
Equity Participation and Funding Agreement, Percentage Reduction in the Metal Credits Required to Deliver to Counterparty
 
 
 
 
17.00% 
 
 
 
 
 
 
 
 
Equity Participation and Funding Agreement, Percentage of Gold and Silver Agreed to Purchase and Deliver
 
 
 
 
 
 
 
 
 
 
 
28.10% 
21.30% 
Equity Participation and Funding Agreement, Percentage of Copper Agreed to Purchase and Deliver
 
 
 
 
 
 
 
 
 
 
 
2.10% 
2.10% 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Ounce of Gold
 
 
 
 
 
 
 
 
 
 
220 
 
 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Ounce of Silver
 
 
 
 
 
 
 
 
 
 
 
 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Pound of Copper
 
 
 
 
 
 
 
 
 
 
0.50 
 
 
Equity Participation and Funding Agreement, Threshold, Number of Ounces of Gold to Be Produced Before the Cash Payments from Counterparty Will Be Increased
 
 
 
 
 
 
 
 
 
 
8,600,000 
 
 
Equity Participation and Funding Agreement, Threshold, Number of Ounces of Silver to Be Produced Before the Cash Payments from Counterparty Will Be Increased
 
 
 
 
 
 
 
 
 
 
40,300,000 
 
 
Equity Participation and Funding Agreement, Threshold, Number of Pounds of Copper to Be Produced Before the Cash Payments from Counterparty Will Be Increased
 
 
 
 
 
 
 
 
 
 
9,100,000,000 
 
 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Ounce of Gold, Beyond Threshold
 
 
 
 
 
 
 
 
 
 
500 
 
 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Ounce of Silver, Beyond Threshold
 
 
 
 
 
 
 
 
 
 
10 
 
 
Equity Participation and Funding Agreement, Cash Payments to Be Received from Counterparty Per Pound of Copper, Beyond Threshold
 
 
 
 
 
 
 
 
 
 
1.10 
 
 
Equity Participation and Funding Agreement, Initial Term
 
 
 
 
 
 
 
 
50 years 
 
 
 
 
Equity Participation and Funding Agreement, Term of Extensions
 
 
 
 
 
 
 
 
10 years 
 
 
 
 
Equity Participation and Funding Agreement, Entity's Economic Interest Below Which No Further Refund of Deposit Will Be Required
 
 
 
 
 
 
 
 
 
17.00% 
 
 
 
Equity Participation and Funding Agreement, Entity's Economic Interest Above Which the Entity May Refund a Corresponding Portion of the Deposit it Cash or Common Shares
 
 
 
 
 
 
 
 
 
17.00% 
 
 
 
Equity Participation and Funding Agreement, Entity's Economic Interest Below Which the Entity May Refund a Corresponding Portion of the Deposit it Cash or Common Shares
 
 
 
 
 
 
 
 
 
34.00% 
 
 
 
Equity Participation and Funding Agreement, Determination of the Value of Each Common Share, Number of Trading Days
 
 
 
 
 
 
 
 
5 days 
 
 
 
 
Equity Participation and Funding Agreement, Determination of the Value of Each Common Share, Number of Days After the Reduction in Economic Interest At Which Time Determination Will Be Made
 
 
 
 
 
 
 
 
90 days 
 
 
 
 
Equity Participation and Funding Agreement, Percentage of Remaining Shares to Not Be Refunded If Counterparty Becomes a Control Person
 
 
 
 
 
 
 
 
 
50.00% 
 
 
 
Equity Participation and Funding Agreement, Percentage of Remaining Shares to Be Refunded If Counterparty Becomes a Control Person
 
 
 
 
 
 
 
 
 
50.00% 
 
 
 
Equity Participation and Funding Agreement, Maximum Share Ownership Percentage of Counterparty
 
 
 
 
 
 
 
 
 
20.00% 
 
 
 
Equity Participation and Funding Agreement, Deposit Refunded During Period, Cash Portion
 
 
 
 
5,500,000 
 
 
 
 
 
 
 
 
Equity Participation and Funding Agreement, Deposit Refunded During Period, Equity Portion
 
 
 
 
$ 1,300,000 
 
 
 
 
 
 
 
 
Stock Issued During Period, Shares, New Issues
 
 
 
5,128,604 
 
 
 
 
 
 
 
 
 
Share Price
 
 
 
 
 
$ 0.3496 
 
 
 
 
 
 
 
Note 9 - Share Capital (Details Textual)
1 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Jan. 31, 2017
Private Placement [Member]
USD ($)
Jan. 31, 2017
Private Placement [Member]
CAD ($)
Common Stock, Shares, Issued
172,802,967 
153,045,408 
 
 
Common Stock, Shares, Outstanding
172,802,967 
153,045,408 
 
 
Units Issued During Period, Shares, New Issues
 
 
18,529,484 
18,529,484 
Units Issued During Period, Price Per Unit
 
 
 
$ 0.41 
Proceeds from Issuance of Private Placement
 
 
 
$ 7,600,000 
Equity Units, Number of Common Shares in Each Unit
 
 
Equity Units, Number of Transferable Common Share Purchase Warrants in Each Unit
 
 
0.5 
0.5 
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right
 
 
Class of Warrant or Right, Exercise Price of Warrants or Rights
 
 
 
$ 0.65 
Class of Warrant or Right, Term
 
 
5 years 
5 years 
Payments of Stock Issuance Costs
 
 
$ 0 
 
Issuance of Units, Hold Period on Securities
 
 
121 days 
121 days 
Note 9 - Share Capital - Warrants Outstanding (Details) (CAD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Warrants Expiring on January 10, 2022 [Member]
 
Number of share purchase warrants (in shares)
8,655 
Price per share (in CAD per share)
$ 0.65 
Expiry date (Year)
Jan. 10, 2022 
Warrants Expiring on January 12, 2022 [Member]
 
Number of share purchase warrants (in shares)
610 
Price per share (in CAD per share)
$ 0.65 
Expiry date (Year)
Jan. 12, 2022 
Note 10 - Stock-based Compensation (Details Textual) (USD $)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Allocated Share-based Compensation Expense
$ 0 
$ 100,000 
Note 10 - Stock-based Compensation - Stock Option Transactions (Details) (CAD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Outstanding (in shares)
12,010 
Outstanding, weighted average exercise price (in CAD per share)
$ 0.48 
Exercised (in shares)
(1,228)
Exercised, weighted average exercise price (in CAD per share)
$ 0.31 
Forfeited/expired (in shares)
(2,542)
Forfeited/Expired, weighted average exercise price (in CAD per share)
$ 0.78 
Outstanding (in shares)
8,240 
Outstanding, weighted average exercise price (in CAD per share)
$ 0.39 
Note 10 - Stock-based Compensation - Stock Options Outstanding (Details) (CAD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Mar. 31, 2017
Range One [Member]
Mar. 31, 2017
Range Two [Member]
Mar. 31, 2017
Range Three [Member]
Mar. 31, 2017
Range Four [Member]
Mar. 31, 2017
Range Five [Member]
Number of options (in shares)
8,240 
 
685 
2,845 
935 
1,370 
2,405 
Vested (in shares)
8,240 
 
685 
2,845 
935 
1,370 
2,405 
Aggregate intrinsic value
$ 1,994 
 
$ 116 
$ 487 
$ 411 
$ 423 
$ 557 
Price per share, lower range limit (in CAD per share)
 
 
$ 0.21 
$ 0.30 
 
$ 0.33 
$ 0.39 
Price per share, upper range limit (in CAD per share)
 
 
$ 0.73 
$ 0.56 
 
$ 0.38 
$ 0.42 
Expiry date
 
 
Sep 2017 
Mar - Dec 2018 
Dec 2019 
Jun - Dec 2020 
Mar - Nov 2021 
Price per share (in CAD per share)
$ 0.39 
$ 0.48 
 
 
$ 0.21 
 
 
Note 11 - Segmented Information (Details Textual)
3 Months Ended
Mar. 31, 2017
Number of Operating Segments
Note 11 - Segmented Information - Geographic Segmentation of Assets (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Dec. 31, 2016
Total assets
$ 57,656 
$ 53,280 
UNITED STATES
 
 
Total assets
39,465 
39,169 
CANADA
 
 
Total assets
17,416 
13,327 
Other [Member]
 
 
Total assets
$ 775 
$ 784 
Note 12 - Exploration Costs - Exploration Costs Expensed (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Exploration costs
$ 259 
$ 498 
UNITED STATES
 
 
Exploration costs
194 
271 
MONGOLIA
 
 
Exploration costs
41 
189 
Other [Member]
 
 
Exploration costs
$ 24 
$ 38 
Note 13 - Financial Instruments (Details Textual) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Dec. 31, 2016
Mar. 31, 2016
Dec. 31, 2015
Cash and Cash Equivalents, at Carrying Value
$ 17,550 
$ 13,391 
$ 15,546 
$ 22,786 
Note 15 - Commitments and Contingencies - Lease Commitments (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2017
Lease commitments, total
$ 568 
Lease commitments, less than 1 year
64 
Lease commitments, 1-2 years
213 
Lease commitments, thereafter
$ 291 
Note 17 - Subsequent Events (Details Textual) (Scenario, Forecast [Member])
0 Months Ended
May 9, 2017
Exchange of Entree Stock to a "New" Share of Entree [Member]
 
Conversion of Common Stock, Number of Shares Exchanged Per Share of Common Stock
Exchange of Entree Stock for a Mason Common Share [Member]
 
Conversion of Common Stock, Number of Shares Exchanged Per Share of Common Stock
0.45