During the three months ended March 31, 2018, the Company granted 300,000 stock options to directors, officers, employees and others versus 400,000 in the comparative period in the prior year. Share-based compensation expense increased by $120,858 during the three months ended March 31, 2018 compared to the prior year period due to the amortization of option grants with higher fair values that were granted during the year ended December 31, 2017. The weighted average grant date fair value of options granted in the three months ended March 31, 2018 was $0.18 (2017 - $0.39).
During the three months ended March 31, 2018, the Company recorded other income of $1,475,434 related to the amortization of the flow-through share premium liability of $2,341,464 recognized in connection with the Company’s June and July 2017 private placements (see section 1.6/1.7). As of March 31, 2018, $3,872,819 of eligible exploration expenditures has been incurred and paid and an additional $2,127,182 of eligible exploration expenditures has been incurred and accrued. There was no flow-through share premium outstanding during the comparative period of the prior year
