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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Jun. 30, 2023
Jun. 30, 2022
CURRENT ASSETS:      
Cash $ 15,504,819 $ 11,646,194 $ 23,095,101
Restricted cash 232,572 231,000 231,000
Prepaid expenses and other 1,112,910 413,907 453,353
Total current assets 16,850,301 12,291,101 23,779,454
LONG-TERM ASSETS:      
Investment in Peak Gold, LLC (NOTE 10) 28,064,405 0 0
Property & equipment, net 13,326,347 13,371,638 13,514,531
Commitment fee 350,575 0 0
Total long-term assets 41,741,327 13,371,638 13,514,531
TOTAL ASSETS 58,591,628 25,662,739 37,293,985
CURRENT LIABILITIES:      
Accounts payable 250,739 220,755 633,856
Accrued liabilities 2,241,087 2,077,870 870,981
Derivative Liability - current 2,679,784 0 0
Debt, current portion 7,900,000 0 0
Total current liabilities 13,071,610 2,298,625 1,504,837
NON-CURRENT LIABILITIES:      
Advance royalty reimbursement 1,200,000 1,200,000 1,200,000
Asset retirement obligations 246,227 239,942 228,082
Contingent consideration liability 1,100,480 1,240,563 1,847,063
Derivative Liability - noncurrent 20,737,997 0 0
Debt, net 36,779,859 25,457,047 19,239,960
Total non-current liabilities 60,064,563 28,137,552 22,515,105
TOTAL LIABILITIES 73,136,173 30,436,177 24,019,942
COMMITMENTS AND CONTINGENCIES (NOTE 12)
STOCKHOLDERS' EQUITY (DEFICIT):      
Preferred Stock, 15,000,000 shares authorized 0 0 0
Common Stock, $0.01 par value, 45,000,000 shares authorized; 9,454,233 shares issued and 9,451,753 shares outstanding as of December 31, 2023; 7,781,690 shares issued and outstanding as of June 30, 2023; 6,860,420 shares issued and 6,769,923 shares outstanding at June 30, 2022 94,542 77,817 68,604
Additional paid-in capital 124,451,067 93,424,283 74,057,859
Treasury stock at cost (2,480 at December 31, 2023, 0 at June 30, 2023; and 90,497 shares at June 30, 2022) (48,308) 0 (2,318,182)
Accumulated deficit (139,041,846) (98,275,538) (58,534,238)
STOCKHOLDERS’ EQUITY (DEFICIT) (14,544,545) (4,773,438) 13,274,043
TOTAL LIABILITIES AND MEMBERS’ EQUITY $ 58,591,628 $ 25,662,739 $ 37,293,985