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COMMON SHARES (Tables) | 12 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Schedule of stock option | Schedule of stock option
|  | Number of Options |  |  | Weighted Average Exercise Price |
Balance, June 30, 2020 |  |  | 1,912,940 |  |  |  | C$6.20 |
Granted |  |  | 370,000 |  |  |  | C$7.80 |
Exercised |  |  | (295,229 | ) |  |  | C$6.10 |
Cancelled/expired |  |  | (391,212 | ) |  |  | C$6.40 |
Balance, June 30, 2021 |  |  | 1,596,499 |  |  |  | C$6.50 |
Granted |  |  | 447,500 |  |  |  | C$13.30 |
Exercised |  |  | (205,153 | ) |  |  | C$7.00 |
Cancelled/expired |  |  | (392,446 | ) |  |  | C$7.70 |
Balance, June 30, 2022 |  |  | 1,446,400 |  |  |  | C$8.27 |
Granted |  |  | 578,000 |  |  |  | $6.95 |
Exercised |  |  | (265,129 | ) |  |  | C$4.99 |
Cancelled/expired |  |  | (217,771 | ) |  |  | C$5.87 |
Balance, June 30, 2023 |  |  | 1,541,500 |  |  |  | C$9.64 |
The following table summarizes information about stock options outstanding at June 30, 2023: | The following table summarizes information about stock options outstanding at June 30, 2023:
Exercise Price | Expiry Date | Number Outstanding | Aggregate Intrinsic Value | Number Exercisable | Aggregate Intrinsic Value
C$8.40 | September 18, 2023 | 105,000 | C$- | 105,000 | C$-
C$5.40 | November 15, 2023 | 208,500 | 263 | 208,500 | 263
C$7.50 | December 14, 2023 | 170,000 | - | 170,000 | -
C$7.50 | December 16, 2023 | 52,500 | - | 52,500 | -
C$13.60 | December 17, 2024 | 377,500 | - | 377,500 | -
C$11.00 | May 30, 2025 | 50,000 | - | 50,000 | -
$6.95 | March 27, 2026 | 578,000 | - | 578,000 | -
Balance, June 30, 2023 | 1,541,500 | C$263 | 1,541,500 | C$263
The following table summarizes the weighted average information and assumptions used to determine option costs: | The following table summarizes the weighted average information and assumptions used to determine option costs:
| Year ended June 30,
| 2023 | 2022 | 2021
Fair value per option granted during the period | $3.09 | C$4.90 | C$2.50
Risk-free interest rate | 3.30% | 1.33% | 0.26%
Expected dividend yield | 0% | 0% | 0%
Expected stock price volatility (historical basis) | 63.6% | 54.4% | 54.1%
Expected option life in years | 3.0 | 3.0 | 3.0
Weighted average exercise prices related to Canadian dollar denominated warrants were converted to U.S. dollars using end of period foreign currency exchange rates. | Warrant transactions are summarized as follows. Weighted average exercise prices related to Canadian dollar denominated warrants were converted to U.S. dollars using end of period foreign currency exchange rates.
|  | Warrants |  |  | Weighted Average Exercise Price |
Balance, June 30, 2020 |  |  | 1,237,645 |  |  | $ | 5.43 |
Granted: |  |  |  |  |  |  |  |
Nordmin warrants |  |  | 50,000 |  |  |  | 6.45 |
Lind III warrants |  |  | 855,800 |  |  |  | 7.83 |
April 2021 private placement |  |  | 441,211 |  |  |  | 13.15 |
Exercised |  |  | (910,628 | ) |  |  | 6.05 |
Expired |  |  | (239,845 | ) |  |  | 5.89 |
Balance, June 30, 2021 |  |  | 1,434,183 |  |  |  | 9.36 |
Granted: |  |  |  |  |  |  |  |
June 2022 private placement |  |  | 504,614 |  |  |  | 8.54 |
Exercised |  |  | (87,175 | ) |  |  | 6.05 |
Balance, June 30, 2022 |  |  | 1,851,622 |  |  |  | 8.99 |
Granted: |  |  |  |  |  |  |  |
Yorkville financing warrants |  |  | 1,789,267 |  |  |  | 8.94 |
GXII warrants |  |  | 15,666,626 |  |  |  | 11.50 |
Expired |  |  | (491,211 | ) |  |  | 11.67 |
Balance, June 30, 2023 |  |  | 18,816,304 |  |  | $ | 10.98 |
At June 30, 2023, the Company has outstanding exercisable warrants, as follows: | At June 30, 2023, the Company has outstanding exercisable warrants, as follows:
Number |  | Exercise Price |  | Expiry Date
504,611 |  | C$11.00 |  | June 30, 2024
855,800 |  | C$9.70 |  | February 19, 2025
1,789,267 |  | $8.94 |  | (1)
15,666,626 |  | $11.50 |  | March 17, 2028
18,816,304 |  |  |  |
(1) | Expires in 12 equal monthly tranches beginning October 17, 2023
The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions: | The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions:
Key Valuation Input |  | March 17, 2023 |  |  | June 30, 2023 |
Stock price on valuation date |  | $ | 7.00 |  |  | $ | 5.03 |
Strike price |  | $ | 11.50 |  |  | $ | 11.50 |
Implied volatility of Public Warrants |  |  | 19.5 | % |  |  | 33.5 | %
Risk free rate |  |  | 3.47 | % |  |  | 4.18 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
Expected warrant life in years |  |  | 5.0 |  |  |  | 4.73 |
The change in the Private Warrants liability is presented below: | The change in the Private Warrants liability is presented below:
|  | Amount |
Initial valuation, March 17, 2023 |  | $ | 2,987 |
Change in valuation |  |  | 292 |
Valuation at June 30, 2023 |  | $ | 3,279 |
Schedule of expenses as other operating costs | Schedule of expenses as other operating costs
|  | Amount |
Yorkville Cash Fee |  | $ | 1,500 |
Fair value of Commitment Shares issued |  |  | 650 |
Legal and other related costs |  |  | 496 |
Net costs expensed to other operating expense |  | $ | 2,646 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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