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v3.4.0.3

Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015
EXPENSES: |  |  |  |
Claim rentals and minimum royalties | $ 0 | $ 40,389 | $ 14,425 | $ 120,625
Exploration Expense, Mining | 0 | 140,402 | 0 | 354,902
General and administrative expenses | 181,257 | 752,369 | 935,482 | 2,156,053
Expense reimbursement | 0 | 750,000 |  |
Total expenses | 181,257 | 183,160 | 949,907 | 1,881,580
Income (Loss) from Equity Method Investments | 0 |  | 0 | (163,026)
NET LOSS | $ 181,257 | $ 346,186 | $ 949,907 | $ 2,044,606
LOSS PER SHARE |  |  |  |
Earnings Per Share, Basic and Diluted | $ (0.05) | $ (0.09) | $ (0.24) | $ (0.53)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING |  |  |  |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 3,957,640 | 3,873,506 | 3,918,430 | 3,832,206

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- Definition The costs incurred to retain exploration and property rights after acquisition but before production has occurred. Costs include legal costs for title defense, ad valorem taxes on nonproducing mineral properties, shut-in royalties, and delay rentals. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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