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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:        
Net loss $ (21,348,355) $ (19,993,848) $ (5,879,152) $ (9,681,801)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 8,697 11,589 13,249 8,812
Stock-based compensation 2,003,116 1,319,372 470,939 438,375
Noncash lease expense 78,878 143,734 122,759 0
Loss on equity investments in unconsolidated affiliates 642,135 64,626 0 0
Changes in operating assets and liabilities:        
Other assets (717,101) (1,385,134) (29,736) 10,855
Operating lease liabilities (81,005) (144,096) (118,555) 0
Accounts payable (1,299,090) 1,770,570 (642,293) (449,771)
Accrued expenses and other current liabilities 3,038,552 1,955,933 (269,512) 477,918
Net cash used in operating activities (17,674,173) (16,257,254) (6,332,301) (9,195,612)
Cash flows from investing activities:        
Purchase of mining interests (12,464,238) (18,187,346) (2,747,783) (1,523,104)
Capital expenditures (35,145) (20,035) (704,471) (31,025)
Advances on the Ewoyaa Project (4,310,173) 0 0 0
Purchase of equity investments in unconsolidated affiliates (43,603,824) (16,358,412) 0 0
Net cash used in investing activities (60,413,380) (34,565,793) (3,452,254) (1,554,129)
Cash flows from financing activities:        
Proceeds from issuance of common stock, net of issuance costs 0 174,964,132 25,108,987 8,321,894
Proceeds from exercise of stock options 557,100 349,047 0 0
Principal payments on long-term debt (876,212) (695,572) (390,434) 0
Net cash (used in) provided by financing activities (319,112) 174,617,607 24,718,553 8,321,894
Net (decrease) increase in cash (78,406,665) 123,794,560 14,933,998 (2,427,847)
Cash and cash equivalents at beginning of period 142,651,648 18,857,088 4,432,150 7,238,489
Effect of exchange rate changes on cash 0 0 (509,060) (378,492)
Cash and cash equivalents at end of period 64,244,983 142,651,648 18,857,088 4,432,150
Supplemental disclosure of cash flow information:        
Cash paid for interest 112,869 289,125 157,271 0
Noncash acquisitions of mining interests financed by sellers $ 241,002 $ 689,500 $ 2,708,052 $ 0