INVESTMENT IN MINERA LI (Tables)

3 Months Ended

Sep. 30, 2016

Investments [Abstract]

Summary Investment Holdings [Table Text Block]

The activity of the investment for the three months ended September 30, 2016 and 2015 is as follows:

 

	September 30, 2016		September 30, 2015
Opening balance - July 1, 2016 and 2015	$	6,779,337	$	7,336,375
Less: Equity in loss of Minera Li		(65,120)		(213,384)
Closing balance – September 30, 2016 and 2015	$	6,714,217	$	7,122,991

Equity Method Investments [Table Text Block]

Summarized Balance Sheets

	September 30, 2016		June 30, 2016
Current assets	$	12,106	$	47,973
Non-current assets		17,383,642		17,383,067
Total assets	$	17,395,748	$	17,431,040
Current liabilities	$	1,967,663	$	1,870,056
Equity		15,428,085		15,560,984
Total liabilities and equity	$	17,395,748	$	17,431,040

Summarized Statements of Operations

	Three months ended		Three months ended
	September 30, 2016		September 30, 2015
Revenue	$	-	$	-
Operating expenses:
Exploration expenses		(42,857)		(357,238)
General & administrative expenses		(90,042)		(78,240)
Total operating expenses		(132,899)		(435,478)
Net loss	$	(132,899)	$	(435,478)