Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2020	Jun. 30, 2019
CURRENT ASSETS:
Cash	$ 3,593,644	$ 8,600,658
Prepaid expenses and other	252,181	161,195
Total current assets	3,845,825	8,761,853
OTHER ASSETS:
Investment in Peak Gold, LLC (Note 4)
Total other assets
TOTAL ASSETS	3,845,825	8,761,853
CURRENT LIABILITIES:
Accounts payable	6,171	71,410
Accrued liabilities	178,505	347,879
Total current liabilities	184,676	419,289
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS’ EQUITY:
Common Stock, $0.01 par value, 30,000,000 shares authorized; 6,590,113 shares issued and 6,557,239 outstanding at March 31, 2020; 6,357,113 shares issued and outstanding at June 30, 2019	65,901	63,571
Additional paid-in capital	60,418,781	57,935,663
Treasury stock at cost (32,874 shares at March 31, 2020; and 0 at June 30, 2019)	(476,672)
Accumulated deficit	(56,346,861)	(49,656,670)
SHAREHOLDERS’ EQUITY	3,661,149	8,342,564
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 3,845,825	$ 8,761,853

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).