XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Investment in Peak Gold, LLC (Notes) | 9 Months Ended
--- | ---
Mar. 31, 2016
Investment in Peak Gold LLC [Abstract] |
Investment in Peak Gold LLC [Text Block] | The Company recorded its investment at the historical cost of the assets contributed to the Joint Venture Company which was approximately $1.4 million. During the nine months ended March 31, 2016, Royal Gold contributed $3.4 million to the Joint Venture Company and earned an interest of 6.8%. Therefore, as of March 31, 2016, the Company holds a 93.2% economic interest in the Joint Venture Company. The following table is a roll-forward of our investment in the Joint Venture Company from January 8, 2015 (Inception) to March 31, 2016:
| Inception to
| March 31, 2016
Investment in Peak Gold, LLC at formation | $ | 1,433,886 |
Loss from equity investment in Peak Gold, LLC | (1,433,886 | )
Investment balance | $ | — |
The following table presents the condensed balance sheet for Peak Gold, LLC as of March 31, 2016:
| March 31, 2016
ASSETS |
Cash and cash equivalents | $ | 1,784,888 |
Mineral properties | 1,433,886 |
TOTAL ASSETS | $ | 3,218,774 |
LIABILITIES AND MEMBERS' EQUITY |
Accounts payable and other liabilities | $ | 2,129,546 |
TOTAL LIABILITIES | $ | 2,129,546 |
MEMBERS' EQUITY | 1,089,228 |
TOTAL LIABILITIES AND MEMBERS' EQUITY | $ | 3,218,774 |
The Joint Venture Company's results of operations for the three and nine months ended March 31, 2016 was a loss of $1.9 million and $6.4 million, respectively. The Peak Gold, LLC loss does not include any provisions related to income taxes as Peak Gold, LLC is treated as a partnership for income tax purposes. As of March 31, 2016, the Joint Venture Company's inception-to-date cumulative loss of $8.7 million, exceeds the historical cost of our investment in Peak Gold, LLC, of $1.4 million. Therefore the investment in Peak Gold, LLC has a balance of zero as of March 31, 2016. The Company is not obligated to make additional capital contributions to the Joint Venture Company and therefore only records losses up to the point of the initial investment which was $1.4 million. The portion of the cumulative loss that exceeds the Company's investment will be suspended and recognized against earnings, if any, from the investment in the Joint Venture Company in future periods. The suspended losses for the period from inception to March 31, 2016 are $7.1 million. The following table presents the condensed results of operations for Peak Gold, LLC for the three and nine month periods ended March 31, 2016:
| Three Months Ended |  | Nine Months Ended |  | Inception to Date
| March 31, 2016 |  | March 31, 2016 |  | March 31, 2016
EXPENSES: |  |  |  |  |
Exploration expense | $ | 1,667,889 |  |  | $ | 5,612,119 |  |  | $ | 7,519,550 |
General and administrative | 274,454 |  |  | 829,257 |  |  | 1,225,108 |
Total expenses | 1,942,343 |  |  | 6,441,376 |  |  | 8,744,658 |
NET LOSS | $ | 1,942,343 |  |  | $ | 6,441,376 |  |  | $ | 8,744,658 |

X
- Definition Investment in Peak Gold LLC [Abstract] + References No definition available. + Details
Name: | ctgo_InvestmentinPeakGoldLLCAbstract
Namespace Prefix: | ctgo_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Investment in Peak Gold LLC [Text Block] + References No definition available. + Details
Name: | ctgo_InvestmentinPeakGoldLLCTextBlock
Namespace Prefix: | ctgo_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration