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TRANSITION PERIOD COMPARATIVE DATA
 12 Months Ended
Dec. 31, 2021
Transition Period Comparative Data [Abstract]  
TRANSITION PERIOD COMPARATIVE DATA TRANSITION PERIOD COMPARATIVE DATA
As discussed in Note 1 - Description of Company, our Transition Report includes financial information for the six months ended December 31, 2021 and the years ended June 30, 2021, 2020 and 2019. The consolidated statements of operations and cash flows for the six months ended December 31, 2021 and 2020, are summarized below. All data for the six months ended December 31, 2020, was derived from the Company’s unaudited consolidated financial statements.
Six Months Ended
December 31,
20212020
(unaudited)
Operating expenses:
Exploration and mine development costs
$9,628,803 $3,572,166 
General and administrative expenses10,956,005 2,174,023 
Loss from operations(20,584,808)(5,746,189)
Other (expense) income:
Interest (expense) income, net(112,869)(138,801)
(Loss) gain from foreign currency exchange(8,543)100,152 
Loss before taxes and equity earnings(20,706,220)(5,784,838)
Income tax expense (benefit)— — 
Loss from equity investments in unconsolidated affiliates, net of tax(642,135)— 
Net loss$(21,348,355)$(5,784,838)
Basic and diluted net loss per weighted-average share$(1.35)$(0.47)
Basic and diluted weighted-average number of shares outstanding15,868,521 12,205,057 
December 31,
2021		December 31, 2020
(unaudited)
Assets
Cash and cash equivalents$64,244,983 $70,936,994 
Other current assets2,514,602 271,378 
Total current assets66,759,585 71,208,372 
Mining interests39,303,043 13,467,275 
Property, plant and equipment, net752,311 722,321 
Operating lease right-of-use assets60,919 214,776 
Other non-current assets4,500,203 29,906 
Equity investments in unconsolidated affiliates58,872,710 — 
Total assets$170,248,771 $85,642,650 
Liabilities and Stockholders’ Equity
Accounts payable$1,262,744 $2,256,634 
Accrued expenses5,425,498 1,129,196 
Current portion of long-term debt762,189 1,005,897 
Operating lease liabilities59,430 156,560 
Other current liabilities40,157 29,906 
Total current liabilities7,550,018 4,578,193 
Long-term debt, net of current portion914,147 1,676,356 
Operating lease liabilities, net of current portion— 59,430 
Total liabilities8,464,165 6,313,979 
Total stockholders’ equity161,784,606 79,328,671 
Total liabilities and stockholders’ equity$170,248,771 $85,642,650 
Six Months Ended
December 31,
20212020
(unaudited)
Cash flows from operating activities:
Net loss$(21,348,355)$(5,784,838)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation8,697 8,836 
Stock-based compensation2,003,116 301,077 
Noncash lease expense78,878 53,834 
Loss on equity investments in unconsolidated affiliates642,135 — 
Changes in operating assets and liabilities:
Other assets(717,101)(212,398)
Operating lease liabilities(81,005)(74,233)
Accounts payable(1,299,090)1,465,370 
Accrued expenses and other current liabilities3,038,552 708,543 
Net cash used in operating activities(17,674,173)(3,533,809)
Cash flows from investing activities:
Purchase of mining interests(12,464,238)(5,076,816)
Capital expenditures(35,145)(13,740)
Advances on the Ewoyaa Project(4,310,173)— 
Purchase of equity investments in unconsolidated affiliates(43,603,824)— 
Net cash used in investing activities(60,413,380)(5,090,556)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs— 60,876,241 
Proceeds from exercise of stock options557,100 132,895 
Principal payments on long-term debt(876,212)(304,865)
Net cash (used in) provided by financing activities(319,112)60,704,271 
Net (decrease) increase in cash(78,406,665)52,079,906 
Cash and cash equivalents at beginning of period142,651,648 18,857,088 
Cash and cash equivalents at end of period$64,244,983 $70,936,994 
Supplemental disclosure of cash flow information:
Cash paid for interest$112,869 $156,208 
Noncash acquisitions of mining interests financed by sellers241,002 669,500