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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Jun. 30, 2021
CURRENT ASSETS:    
Cash $ 23,095,101 $ 35,220,588
Restricted cash 231,000 0
Prepaid expenses and other 453,353 515,635
Income tax receivable 0 198,126
Total current assets 23,779,454 35,934,349
LONG-TERM ASSETS:    
Investment in Peak Gold, LLC (NOTE 11) 0 0
Property & equipment, net 13,514,531 36,531
Total long-term assets 13,514,531 36,531
TOTAL ASSETS 37,293,985 35,970,880
CURRENT LIABILITIES:    
Accounts payable 633,856 26,268
Accrued liabilities 870,981 195,837
Total current liabilities 1,504,837 222,105
NON-CURRENT LIABILITIES:    
Advance royalty reimbursement 1,200,000 1,200,000
Asset retirement obligations 228,082 0
Contingent consideration liability 1,847,063 0
Debt, net 19,239,960 0
Total non-current liabilities 22,515,105 1,200,000
TOTAL LIABILITIES 24,019,942 1,422,105
COMMITMENTS AND CONTINGENCIES (NOTE 13)
SHAREHOLDERS’ EQUITY:    
Preferred Stock, 15,000,000 shares authorized 0 0
Common Stock, $0.01 par value, 45,000,000 shares authorized; 6,860,420 shares issued and 6,769,923 shares outstanding as of June 30, 2022; 6,675,746 shares issued and outstanding at June 30, 2021 68,604 66,757
Additional paid-in capital 74,057,859 69,509,606
Treasury stock at cost (90,497 at June 30, 2022; and 0 shares at June 30, 2021) (2,318,182) 0
Accumulated deficit (58,534,238) (35,027,588)
SHAREHOLDERS’ EQUITY 13,274,043 34,548,775
TOTAL LIABILITIES AND MEMBERS’ EQUITY $ 37,293,985 $ 35,970,880