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Reclamation and Environmental Obligation | 12 Months Ended
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Jun. 30, 2025
Environmental Remediation Obligations [Abstract] |
Reclamation and Environmental Obligation | Note 9. Reclamation and Environmental Obligation: Reclamation and environmental costs are based principally on legal requirements. Management estimates costs associated with reclamation of mineral properties and properties under mine closure. On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions. The Company has posted several cash bonds as financial security to satisfy reclamation requirements for its BLM mining claims. The balance of posted cash reclamation bonds at June 30, 2025 is $546,176 (June 30, 2024 - $546,176). Paramount is responsible for managing the reclamation activities from the previous mine operations at the Sleeper Gold Mine as directed by the BLM and the Nevada State Department of Environmental Protection (“NDEP”). Paramount has estimated the undiscounted reclamation costs for existing disturbances and monitoring at the Sleeper Gold Project required by the BLM and NDEP to be $5,742,047 at June 30, 2025. These costs are expected to be incurred between the calendar years 2025 and 2060. The sum of expected costs by year are discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement to the time it incurs the obligation. The asset retirement obligation for the Sleeper Gold Project recorded on the balance sheet is equal to the present value of the estimated reclamation costs as required by both the BLM and NDEP. The following variables were used in the calculation for the fiscal years ending June 30, 2025 and 2024:
|  | Year Ended June 30, 2025 |  |  | Year Ended June 30, 2024 |
Weighted-average credit adjusted risk free rate |  |  | 9.90 | % |  |  | 9.93 | %
Weighted-average inflation rate |  |  | 2.53 | % |  |  | 2.53 | %
Changes to the Company’s asset retirement obligation for the Sleeper Gold Mine for the years ended June 30, 2025 and 2024 are as follows:
|  | Year Ended June 30, 2025 |  |  | Year Ended June 30, 2024 |
Balance at beginning of period |  | $ | 2,270,288 |  |  | $ | 4,436,902 |
Accretion expense |  |  | 225,413 |  |  |  | 442,234 |
Additions and change in estimates |  |  | (81,936 | ) |  |  | (84,295 | )
Settlements |  |  | (120,000 | ) |  |  | (2,524,553 | )
Balance at end of period |  | $ | 2,293,765 |  |  | $ | 2,270,288 |
During the year ended June 30, 2025 and 2024, changes in estimates and settlements for the reclamation and environmental obligation totaled $201,936 and $2,608,848 respectively. For settlements that have no benefit to future mining operations, the corresponding amount recorded in mineral properties are written off (Note 8). The balance of the reclamation and environmental obligation of $2,293,765 (2024 - $2,270,288) is comprised of a current portion of $120,000 (2024 - $120,000) and a non-current portion of $2,173,765 (2024 - $2,150,288).

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