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Note 17 - Segmented Note (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Information

Fiscal Year Ended December 31, 2024		Exploration				Peak Gold JV				Corporate and other reconciling items				Consolidated
EXPENSES:
Claim rental expense		$	(589,461	)		$	—			$	—			$	(589,461	)
Exploration expense
Johnson Tract			(4,059,505	)			—				—				(4,059,505	)
Lucky Shot			—				—				—				—
Depreciation expense			(112,184	)			—				(9,692	)			(121,876	)
Accretion expense			(9,542	)			—				—				(9,542	)
General and administrative expense			(325,500	)			—				(10,285,771	)			(10,611,271	)
Total expenses			(5,096,192	)			—				(10,295,463	)			(15,391,655	)
Income/(loss) from equity investment in Peak Gold, LLC			—				41,669,216				—				41,669,216
Total income/(expense) from operations			(5,096,192	)			41,669,216				(10,295,463	)			26,277,561
OTHER INCOME/(EXPENSE):
Interest income			28,327				—				324,542				352,869
Interest expense			—				—				(11,731,622	)			(11,731,622	)
Gain/(loss) on derivative contracts			—				(54,150,141	)			—				(54,150,141	)
Gain/(loss) on Spot sales			—				1,209,293				—				1,209,293
Unrealized gain/(loss) on marketable securities			—				—				(199,018	)			(199,018	)
Other income			—				127,366				—				127,366
Total other income/(expense)			28,327				(52,813,482	)			(11,606,098	)			(64,391,253	)
INCOME/(LOSS) BEFORE INCOME TAXES		$	(5,067,865	)		$	(11,144,266	)		$	(21,901,561	)		$	(38,113,692	)
Total Assets			51,908,779				60,706,964				21,276,520				133,892,263
Total Liabilities			(2,143,570	)			(57,692,107	)			(72,783,941	)			(132,619,618	)
Net Assets		$	49,765,209			$	3,014,857			$	(51,507,421	)			1,272,645

Six Months Ended December 31, 2023		Exploration				Peak Gold JV				Corporate and other reconciling items				Consolidated
EXPENSES:
Claim rental expense		$	(255,121	)		$	—			$	—			$	(255,121	)
Exploration expense
Johnson Tract			—				—				—				—
Lucky Shot			(1,815,822	)			—				—				(1,815,822	)
Depreciation expense			(47,775	)			—				(4,845	)			(52,620	)
Accretion expense			(6,284	)			—				—				(6,284	)
Impairment from loss, net of recovery			—				—				—				—
General and administrative expense			(181,180	)			—				(6,571,730	)			(6,752,910	)
Total expenses			(2,306,182	)			—				(6,576,576	)			(8,882,757	)
Income/(loss) from equity investment in Peak Gold, LLC			—				(6,315,595	)			—				(6,315,595	)
Total income/(expense) from operations			(2,306,182	)			(6,315,595	)			(6,576,576	)			(15,198,352	)
OTHER INCOME/(EXPENSE):
Interest income			—				—				68,662				68,662
Insurance recoveries			—				—				—				—
Interest expense			—				—				(2,358,920	)			(2,358,920	)
Gain/(loss) on derivative contracts			—				(23,417,781	)			—				(23,417,781	)
Other income			140,083				—				—				140,083
Total other income/(expense)			140,083				(23,417,781	)			(2,290,258	)			(25,567,956	)
INCOME/(LOSS) BEFORE INCOME TAXES		$	(2,166,099	)		$	(29,733,376	)		$	(8,866,834	)		$	(40,766,308	)
Total Assets			13,676,037				28,245,465				16,670,126				58,591,628
Total Liabilities			(1,421,161	)			(23,417,781	)			(48,297,231	)			(73,136,173	)
Net Assets		$	12,254,876			$	4,827,684			$	(31,627,105	)			(14,544,545	)

Fiscal Year Ended June 30, 2023		Exploration				Peak Gold JV				Corporate and other reconciling items				Consolidated
EXPENSES:
Claim rental expense		$	(526,279	)		$	—			$	—			$	(526,279	)
Exploration expense
Johnson Tract			—				—				—				—
Lucky Shot			(7,878,863	)			—				—				(7,878,863	)
Depreciation expense			(128,211	)			—				(8,290	)			(136,501	)
Accretion expense			(11,860	)			—				—				(11,860	)
Impairment from loss, net of recovery			(7,111	)			—				—				(7,111	)
General and administrative expense			(545,734	)			—				(8,545,393	)			(9,091,127	)
Total expenses			(9,098,058	)			—				(8,553,683	)			(17,651,741	)
Income/(loss) from equity investment in Peak Gold, LLC			—				(21,120,000	)			—				(21,120,000	)
Total income/(expense) from operations			(9,098,058	)			(21,120,000	)			(8,553,683	)			(38,771,741	)
OTHER INCOME/(EXPENSE):
Interest income			—				—				29,651				29,651
Interest expense			—				—				(1,959,666	)			(1,959,666	)
Gain/(loss) on derivative contracts			—				—				—				—
Other income			622,155				—				—				622,155
Insurance recoveries			338,301				—				—				338,301
Total other income/(expense)			960,456				—				(1,930,015	)			(969,559	)
INCOME/(LOSS) BEFORE INCOME TAXES		$	(8,137,602	)		$	(21,120,000	)		$	(10,483,698	)		$	(39,741,300	)
Total Assets			13,519,290				—				12,143,449				25,662,739
Total Liabilities			(2,142,059	)			—				(28,294,118	)			(30,436,177	)
Net Assets		$	11,377,231			$	—			$	(16,150,669	)			(4,773,438	)

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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