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Stock Based Compensation (Tables) | 9 Months Ended
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Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock-based Compensation Expense, Allocation of Recognized Period Costs | Stock-based compensation expense for the periods reflected was as follows:
|  | Three Months Ended March 31, |  | Nine Months Ended March 31,
|  | 2013 |  | 2012 |  | 2013 |  | 2012
Stock-based compensation included in: |  |  |  |  |  |  |  |
Exploration expenses (1) |  | $ | 57,982 |  |  | $ | 12,022 |  |  | $ | 293,206 |  |  | $ | 46,305 |
Stock-based compensation expense (2) |  | 127,540 |  |  | 38,454 |  |  | 858,164 |  |  | 154,430 |
Total stock-based compensation expense |  | $ | 185,522 |  |  | $ | 50,476 |  |  | $ | 1,151,370 |  |  | $ | 200,735 |
(1) | Related to restricted stock and stock option awards to the Company’s technical consultant, the owner of Avalon.
(2) | Related to restricted stock and stock option awards to the Company’s directors and employees.
2010 Plan [Member] | Stock Options [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Restricted Stock and Stock Options | A summary of the status of stock options granted under the 2010 Plan as of March 31, 2013 and changes during the nine months then ended, is presented in the table below:
|  | Nine Months Ended March 31, 2013
|  | Shares Under Options |  | Weighted Average Exercise Price
Outstanding, June 30, 2012 |  | 50,000 |  |  | $ | 13.13 |
Granted - July 2012 (1) |  | 100,000 |  |  | $ | 10.25 |
Granted - December 2012 (2) |  | 250,000 |  |  | $ | 10.20 |
Exercised |  | — |  |  | $ | — |
Forfeited |  | — |  |  | $ | — |
Outstanding, end of period |  | 400,000 |  |  | $ | 10.58 |
Aggregate intrinsic value |  | $ | — |  |  |
Exercisable, end of period |  | 171,667 |  |  | $ | 10.97 |
Aggregate intrinsic value |  | $ | — |  |  |
Available for grant, end of period |  | 506,094 |  |  |
Weighted average fair value per share of options granted during the period |  | $ | 5.34 |  |  |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph A240 -Subparagraph g(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64 -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=6793087&loc=d3e301413-122809 + Details
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