Riva Gold is engaged in identifying and developing new discoveries. Co. was in the exploration stage with respect to its investment in mineral properties and accordingly follows the practice of capitalizing all costs relating to option payments on the properties, the acquisition, exploration and development of mineral claims and crediting all revenues received against the cost of the related claims. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, Co.'s ability to obtain financing to complete development of the properties, and on future production or proceeds of disposition.
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