Stock Based Compensation (Tables)

9 Months Ended

Mar. 31, 2015

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,
	2015		2014		2015		2014
Stock-based compensation included in:
Exploration expense ⁽¹⁾	$	136,429	$	69,625	$	241,663	296,571
Stock-based compensation expense⁽²⁾	127,025		122,951		399,068		689,746
Total stock-based compensation expense	$	263,454	$	192,576	$	640,731	$	986,317


⁽¹⁾	^{Related to restricted stock and stock option awards to a former technical consultant.}


⁽²⁾	^{Related to restricted stock and stock option awards to the Company’s directors and employees.}

Schedule of Restricted Stock and Stock Options

Stock Options. The option awards listed in the table below have been granted to directors, officers, employees and consultants of the Company:



Option Awards
Period Granted	Options Granted	Weighted Average Exercise Price	Vesting Period ⁽⁷⁾
September 2011 ⁽¹⁾	50,000	$13.13	Vests over two years, beginning with one-third on the grant date.
July 2012 ⁽²⁾	100,000	$10.25	Vests over two years, beginning with one-third on the grant date.
December 2012 ⁽³⁾	250,000	$10.20	Vests over two years, beginning with one-third on the grant date.
June 2013 ⁽⁴⁾	37,500	$10.00	Vested Immediately
July 2013 ⁽⁵⁾	5,000	$10.00	Vested Immediately
September 2013 ⁽⁶⁾	37,500	$10.01	Vested Immediately
September 2013 ⁽⁶⁾	15,000	$10.01	Vests over two years, beginning with one-third on the grant date.

⁽¹⁾ ^{The Company granted}^40,000^{stock options to its directors and officers and an additional}^10,000^{stock options to a former technical consultant, for services performed during fiscal year 2011.}

⁽²⁾ ^{The Company granted}^75,000^{stock options to its directors and officers and an additional}^25,000^{stock options to a former technical consultant for services performed during fiscal year 2012.}

⁽³⁾ ^{The Company granted}^175,000^{stock options to its directors and an additional}^75,000^{stock options to a former technical consultant for services performed during fiscal year 2013.}

⁽⁴⁾ ^{The Company granted}^37,500^{stock options to its employees for services performed during fiscal year 2013.}

⁽⁵⁾ ^{The Company granted}^5,000^{stock options to an employee of Avalon for services performed during fiscal year 2013.}

⁽⁶⁾ ^{The Company granted}^52,500^{stock options to its employees for services performed during the first quarter of fiscal year 2014.}

^{(7) If at any time there occurs a change of control, as defined in the 2010 Plan, any options that are unvested at that time will immediately vest.}

2010 Plan [Member] | Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of stock options granted under the 2010 Plan as of March 31, 2015 and changes during the nine months then ended, is presented in the table below:



	Nine Months Ended March 31, 2015
	Shares Under Options		Weighted Average Exercise Price
Outstanding, June 30, 2014	445,000		$10.41
Granted	—		—
Exercised	—		—
Forfeited	—		—
Outstanding, March 31, 2015	445,000		$10.41
Aggregate intrinsic value	$	—
Exercisable, end of period	440,000		$10.42
Aggregate intrinsic value	$	—
Available for grant, end of period	299,094

- 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.

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