XML 71 R13.htm IDEA: XBRL DOCUMENT v3.24.3
MINERAL PROPERTIES
 12 Months Ended
Jun. 30, 2024
Extractive Industries [Abstract]  
MINERAL PROPERTIES

7.MINERAL PROPERTIES

 

Mineral properties consist of original acquisition costs and purchased mineral rights related to the Elk Creek Project.

 

In addition to the land and mineral rights currently owned by the Company, the property interests of Elk Creek include eight prepaid mineral exploration option-to-purchase agreements and include a pre-determined buyout for permanent ownership of the mineral and/or surface rights. Terms of the agreements require no further significant payments, and the Company may negotiate lease extensions or elect to purchase the mineral and/or surface rights any time. Agreements that allow for the purchase of mineral rights contain provisions whereby the landowners would retain a 2% net smelter return.