I think they've just started using the IFRS standards and that is why they are doing this now. The deal with Lions Gate was when they were very depressed and was a lucky dodge as it turns out.

From the MD&A:

"In February 2008 the Canadian Accounting Standards Board confirmed that Canadian publicly accountable enterprises will be required to adopt International Financial Reporting Standards (“IFRS”) for financial quarters beginning on and after January 1, 2011. Accordingly, the Company has presented its financial statements in accordance with IFRS for its fiscal year beginning November 1, 2011, including 2010 IFRS compliant comparative financial results. The Company has completed the IFRS scoping and the impact assessment analysis.

Impairment reversal – an impairment loss recognized in prior year(s) for long lived assets shall be reversed if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The Company believes that facts and circumstances have changed subsequent to the mineral property impairment carried out under Canadian GAAP and therefore the valuation of the mineral property on transition to IFRS was reviewed and the impairment on the mineral property was reversed upon transition to IFRS;