Leases (Tables)

6 Months Ended

Dec. 31, 2024

Leases [Abstract]

Assets and Liabilities, Lessee

The following table presents the classification and location of the Group’s leases on the condensed consolidated

balance sheets:

	December 31, 2024	June 30, 2024
Right-of-use assets:
Operating lease right-of-use assets	$833,824	$962,052
Finance lease right-of-use assets	15,632,023	20,697,452
	16,465,847	21,659,504
Lease liabilities:
Current portion of operating lease obligations	279,401	397,999
Non-current portion of operating lease obligations	573,239	587,250
Current portion of finance lease obligations	15,205,744	12,767,400
Non-current portion of finance lease obligations	6,618,699	14,141,713
	$22,677,083	$27,894,362

The following table presents supplemental information for the Group’s non-cancellable leases for the six months

ended December 31, 2024, and 2023:

	Six months ended December 31,
	2024	2023
Operating leases:
Weighted-average remaining lease term	2.91	3.02
Weighted-average incremental borrowing rate	11.50%	9.91%
Finance leases:
Weighted-average remaining lease term	1.58	1.83
Weighted-average incremental borrowing rate	13.45%	13.45%

Lease, Cost

For the three months and six months ended  December 31, 2024, and 2023, the components of the lease costs were as

follows:

	Three months ended December 31,		Six months ended December 31,
	2024	2023	2024	2023
Operating leases:
Operating lease cost charged to profit and loss	$130,028	$141,471	$287,174	$211,985
Finance leases:
Interest on lease liabilities	692,582	762,171	1,488,506	1,578,081
Depreciation on right-of-use assets	2,532,714	2,927,616	5,065,429	6,025,148
Total finance lease cost	3,225,296	3,689,787	6,553,935	7,603,229
Less: Lease cost capitalized to unproved properties	(3,225,296)	(3,689,787)	(6,553,935)	(7,603,229)
Finance lease cost charged to profit and loss	$—	$—	$—	$—

The following table presents the cash flow information related to lease payments for the six months ended

December 31, 2024, and 2023:

	Six months ended December 31,
	2024	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$287,174	$211,985
Financing cash flows for finance leases	5,503,668	1,721,511
	$5,790,842	$1,933,496

Lessee, Operating Lease, Liability, to be Paid, Maturity

As of December 31, 2024, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows:

As at December 31, 2024	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024)	$203,783	$8,775,073
Fiscal year ending June 30, 2026	320,503	14,417,500
Fiscal year ending June 30, 2027	330,808	632,000
Thereafter	159,538	—
Total lease payments	1,014,632	23,824,573
Less: Imputed interest	(161,992)	(2,000,130)
Present value of lease liabilities1	$852,640	$21,824,443

1 Includes both current and long-term portion of the lease liabilities.

Finance Lease, Liability, to be Paid, Maturity

As of December 31, 2024, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows:

As at December 31, 2024	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding six months period from July 1, 2024 to December 31, 2024)	$203,783	$8,775,073
Fiscal year ending June 30, 2026	320,503	14,417,500
Fiscal year ending June 30, 2027	330,808	632,000
Thereafter	159,538	—
Total lease payments	1,014,632	23,824,573
Less: Imputed interest	(161,992)	(2,000,130)
Present value of lease liabilities1	$852,640	$21,824,443

1 Includes both current and long-term portion of the lease liabilities.