Note 12 - Subsequent Events

6 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Subsequent Events [Text Block]

12.

Subsequent Events

On

January 18, 2019,

CORE Alaska, LLC and Royal Alaska, LLC, wholly owned subsidiaries of the Company and Royal Gold, respectively, entered into an Amendment

No.

2

to the JV LLCA.  The Amendment

No.

2,

among other things, (i) defines certain project areas and a resource area in reference to properties owned or controlled by the Joint Venture Company; (ii) allows CORE Alaska, LLC and Royal Alaska, LLC to agree to sell their respective interests in the Joint Venture Company in respect of fewer than all such project areas in a joint sale process by the Company and Royal Gold; (iii) creates a tag right on a transfer by either CORE Alaska, LLC or Royal Alaska, LLC of any portion of its interest in the resource area; and (iv) creates a drag right in connection with a transfer by Royal Alaska, LLC of its entire interest in the resource area.

In

February 2019,

the Company entered into retention agreements totaling

$1,500,000

with its executives. The agreements are triggered upon a change of control.  The Company's Chief Executive Officer and Chief Financial Officer will receive a payment of

$1,000,000

and

$250,000,

respectively upon a change of control.