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COMMON SHARES (Tables)

12 Months Ended

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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