XML 59 R33.htm IDEA: XBRL DOCUMENT v3.24.3
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Company's Deferred Tax Asset (Liability) The tax effects of the significant components within the Company’s deferred tax asset (liability) at June 30, 2024 and 2023 are as follows:

United States

 

2024

 

 

2023

 

Mineral properties

 

$

308,364

 

 

$

(571,685

)

Asset retirement obligation

 

 

476,760

 

 

 

931,750

 

Fixed assets

 

 

752

 

 

 

805

 

Derivatives

 

 

185,163

 

 

 

 

Stock options

 

 

628,667

 

 

 

613,880

 

Other

 

 

2,100

 

 

 

2,100

 

Net operating losses

 

 

15,534,237

 

 

 

14,408,273

 

 

 

$

17,136,043

 

 

$

15,385,123

 

Valuation allowance

 

 

(17,409,493

)

 

 

(15,625,166

)

Mineral properties

 

$

(273,450

)

 

$

(240,043

)

Net deferred tax asset

 

$

 

 

$

 

 

Schedule of Income Tax Recovery Differs from Amounts Computed by Applying Statutory Tax to Pre-tax Losses

The income tax recovery differs from the amounts computed by applying statutory tax to pre-tax losses as a result of the following:

 

 

2024

 

 

2023

 

Loss before taxes

 

$

(8,023,038

)

 

$

(6,488,115

)

US Statutory tax rate

 

 

21.00

%

 

 

21.00

%

Expected income recovery

 

 

(1,684,838

)

 

 

(1,362,504

)

Non-deductible items

 

 

1,099

 

 

 

309

 

Change in estimates

 

 

(67,181

)

 

 

(4,249

)

Other items

 

 

 

 

 

 

Change in tax rates

 

 

 

 

 

 

Change in valuation allowance

 

 

1,784,327

 

 

 

1,328,860

 

Total income taxes (recovery)

 

 

33,407

 

 

$

(37,584

)

Current tax expense (recovery)

 

 

 

 

 

 

Deferred tax expense (recovery)

 

 

33,407

 

 

 

(37,584

)

 

 

$

 

 

$