CANYON COPPER CORP. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - February 14, 2012

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EX-32.2 - CERTIFICATION - CANYON COPPER CORP.exhibit32-2.htm
XML - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.R1.htm
XML - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.R5.htm
XML - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.R16.htm
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XML - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.R12.htm
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EXCEL - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.Financial_Report.xls
XML - IDEA: XBRL DOCUMENT - CANYON COPPER CORP.R9.htm
EX-32.1 - CERTIFICATION - CANYON COPPER CORP.exhibit32-1.htm
EX-31.2 - CERTIFICATION - CANYON COPPER CORP.exhibit31-2.htm
EX-31.1 - CERTIFICATION - CANYON COPPER CORP.exhibit31-1.htm
10-Q - QUARTERLY REPORT - CANYON COPPER CORP.form10q.htm
v2.4.0.6
Derivative Liabilities
 6 Months Ended
Dec. 31, 2011
Derivative Liabilities [Text Block]
5. Derivative Liabilities

The Company has share purchase warrants that were issued in private placements which have exercise prices denominated in Canadian dollars which differs from the Company’s functional currency (U.S. dollars). As a result, these share purchase warrants cannot be considered to be indexed to the Company’s own stock and accordingly must be accounted for as derivative liabilities with changes in fair value recorded in the statement of operations.

The fair value of the derivative liability for the 428,571 share purchase warrants exercisable at Cdn$0.50 per share issued on July 8, 2011 was $89,267. The fair value of the derivative liability for the 1,082,036 share purchase warrants exercisable at Cdn$0.50 per share issued on July 13, 2011 was $186,581.

The fair values of these share purchase warrants as at December 31, 2011 and June 30, 2011 are as follows:

      December 31,     June 30,  
      2011     2011  
       $     $   
               
  1,674,730 warrants expiring on November 10, 2012   21,573     378,707  
  48,928 warrants expiring on December 7, 2012   681     11,119  
  428,571 warrants expiring on January 8, 2013   12,136     –  
  1,082,036 warrants expiring on January 13, 2013   31,165     –  
               
      65,555     389,826  

During the six months ended December 31, 2011, the Company recorded a gain on the change in fair value of the derivative liabilities of $600,119.

The Company uses the Black-Scholes option pricing model to calculate the fair values of the derivative liabilities. The following table shows the weighted average assumptions used in the calculations:

            Risk-free     Expected     Expected  
      Expected     Interest     Dividend     Life (in  
      Volatility     Rate     Yield     years)  
  As at issuance date:                        
           1,674,730 warrants expiring on November 10, 2012   175%     0.37%     0%     1.5  
           48,930 warrants expiring on December 7, 2012   172%     0.29%     0%     1.5  
           428,571 warrants expiring on January 8, 2013   173%     0.29%     0%     1.5  
           1,082,036 warrants expiring on January 13, 2013   173%     0.27%     0%     1.5  
  As at December 31, 2011   98%     0.19%     0%     0.9  

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