Leases (Tables)

3 Months Ended

Sep. 30, 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:

	September 30, 2024	June 30, 2024
Right-of-use assets:
Operating lease right-of-use assets	$1,019,104	$962,052
Finance lease right-of-use assets	18,164,738	20,697,452
	19,183,842	21,659,504
Lease liabilities:
Current portion of operating lease obligations	360,801	397,999
Non-current portion of operating lease obligations	725,571	587,250
Current portion of finance lease obligations	18,220,258	12,767,400
Non-current portion of finance lease obligations	9,556,380	14,141,713
	$28,863,010	$27,894,362

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

ended September 30, 2024, and 2023:

	Three months ended September 30,
	2024	2023
Operating leases:
Weighted-average remaining lease term	3.57	1.42
Weighted-average incremental borrowing rate	13.50%	3.90%
Finance leases:
Weighted-average remaining lease term	1.83	2.83
Weighted-average incremental borrowing rate	13.45%	13.45%

Lease, Cost

For the three months ended September 30, 2024, and 2023, the components of the lease costs were as follows:

	Three months ended September 30,
	2024	2023
Operating leases:
Operating lease cost charged to profit and loss	$157,146	$70,514
Finance leases:
Interest on lease liabilities	795,924	815,910
Depreciation on right-of-use assets	2,532,715	3,097,532
Total finance lease cost	3,328,639	3,913,442
Less: Lease cost capitalized to unproved properties	(3,328,639)	(3,913,442)
Finance lease cost charged to profit and loss	$—	$—

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

September 30, 2024, and 2023:

	Three months ended September 30,
	2024	2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$157,146	$70,514
Financing cash flows for finance leases	—	—
	$157,146	$70,514

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

As of September 30, 2024, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are

as follows:

As at September 30, 2024	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding three months period from July 1, 2024 to September 30, 2024)	$392,879	$15,419,850
Fiscal year ending June 30, 2026	356,745	14,417,500
Fiscal year ending June 30, 2027	368,215	632,000
Thereafter	177,578	—
Total lease payments	1,295,417	30,469,350
Less: Imputed interest	(209,045)	(2,692,712)
Present value of lease liabilities	$1,086,372	$27,776,638

Finance Lease, Liability, to be Paid, Maturity

As of September 30, 2024, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are

as follows:

As at September 30, 2024	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding three months period from July 1, 2024 to September 30, 2024)	$392,879	$15,419,850
Fiscal year ending June 30, 2026	356,745	14,417,500
Fiscal year ending June 30, 2027	368,215	632,000
Thereafter	177,578	—
Total lease payments	1,295,417	30,469,350
Less: Imputed interest	(209,045)	(2,692,712)
Present value of lease liabilities	$1,086,372	$27,776,638