v3.25.2
Stock-based Compensation (Tables)
 12 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award Below is a summary of the terms and conditions of the options issued under the Equity Incentive Plan.
Total number of
options issued and outstanding under
the Equity Incentive
Plan		Vesting conditionExercise price and expiry date
10,734,584 options
Fully vested
A$0.32 per option expiring on May 20, 2026
7,416,667 options
Fully vested
A$0.2367 expiring on May 20, 2026
35,850,000
milestone options
(1)25% of milestone options vest if the 90-day VWAP is greater than or equal to A$1.00 per share
(2)25% of milestone options vest if the 90-day VWAP is greater than or equal to A$1.50 per share
(3)25% of milestone options vest if the 90-day VWAP is greater than or equal to A$2.00 per share
(4)25% of milestone options vest if the 90-day VWAP is greater than or equal to A$2.50 per share
A$0.40 per milestone option expiring on May 20, 2026 or, if the milestone options vest, the day that is 5 years after the date they vest as determined by the Board.
Share-Based Payment Arrangement, Option, Activity [Table Text Block]
The following table summarizes CDI option activity for the years ended June 30, 2025 and 2024:

2025
Grant dateExpiry dateExercise
price		Balance at
the start of
the year		GrantedExercisedExpired/
forfeited/
other		Balance at the
end of the
year
May 20, 2021May 20, 2026A$0.2367 7,416,667———7,416,667
May 20, 2021May 20, 2026A$0.3200 10,734,555———10,734,555
May 20, 2021May 20, 2026A$0.4000 16,000,000———16,000,000
October 28, 2021May 20, 2026A$0.4000 15,850,000——(500,000)15,350,000
May 17, 2022May 20, 2026A$0.4000 400,000———400,000
June 14, 2022May 20, 2026A$0.4000 1,250,000———1,250,000
November 30, 2022May 20, 2026A$0.4000 2,850,000———2,850,000
54,501,222——(500,000)54,001,222
Weighted-average exercise priceA$0.3620 A$— A$— A$0.4000 A$0.3617 
2024
Grant dateExpiry dateExercise
price		Balance at
the start of
the year		GrantedExercisedExpired/
forfeited/
other		Balance at the
end of the
year
May 20, 2021
May 20, 2026A$0.2367 7,416,667———7,416,667
May 20, 2021
May 20, 2026A$0.3200 10,734,584—(29)—10,734,555
May 20, 2021
May 20, 2026A$0.4000 16,000,000———16,000,000
October 28, 2021
May 20, 2026A$0.4000 18,850,000——(3,000,000)15,850,000
May 17, 2022
May 20, 2026A$0.4000 400,000———400,000
June 14, 2022
May 20, 2026A$0.4000 1,250,000———1,250,000
November 30, 2022
May 20, 2026A$0.4000 2,850,000———2,850,000
57,501,251—(29)(3,000,000)54,501,222
Weighted-average exercise price
A$0.3634 A$— A$0.3200 A$0.4000 A$0.3620 
Set out below are the options exercisable at the end of the fiscal year:
Number as of June 30,
Grant dateExpiry date20252024
5/20/20215/20/20267,416,6677,416,667
5/20/20215/20/202610,734,55510,734,555
18,151,22218,151,222
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
For the milestone options granted in prior periods, the Monte-Carlo valuation model inputs used to determine the fair value at the grant date, are as follows:
Grant dateExpiry dateCDI price
at grant
date		Exercise
price		Expected
volatility		Dividend
yield		Risk-free
interest rate		Fair value at
grant date
October 28, 2021May 20, 2026A$0.4000 A$0.4000 65.0000%—1.4809%A$0.1815 
October 28, 2021May 20, 2026A$0.4000 A$0.4000 65.0000%—1.4809%A$0.1630 
October 28, 2021May 20, 2026A$0.4000 A$0.4000 65.0000%—1.4809%A$0.1381 
October 28, 2021May 20, 2026A$0.4000 A$0.4000 65.0000%—1.4809%A$0.1188 
May 17, 2022May 20, 2026A$0.2800 A$0.4000 70.0000%—3.1430%A$0.1050 
May 17, 2022May 20, 2026A$0.2800 A$0.4000 70.0000%—3.1430%A$0.0861 
May 17, 2022May 20, 2026A$0.2800 A$0.4000 70.0000%—3.1430%A$0.0700 
May 17, 2022May 20, 2026A$0.2800 A$0.4000 70.0000%—3.1430%A$0.0577 
June 14, 2022May 20, 2026A$0.2300 A$0.4000 70.0000%—3.7490%A$0.0807 
June 14, 2022May 20, 2026A$0.2300 A$0.4000 70.0000%—3.7490%A$0.0651 
June 14, 2022May 20, 2026A$0.2300 A$0.4000 70.0000%—3.7490%A$0.0528 
June 14, 2022May 20, 2026A$0.2300 A$0.4000 70.0000%—3.7490%A$0.0432 
November 30, 2022May 20, 2026A$0.2600 A$0.4000 70.0000%—3.1160%A$0.0871 
November 30, 2022May 20, 2026A$0.2600 A$0.4000 70.0000%—3.1160%A$0.0677 
November 30, 2022May 20, 2026A$0.2600 A$0.4000 70.0000%—3.1160%A$0.0529 
November 30, 2022May 20, 2026A$0.2600 A$0.4000 70.0000%—3.1160%A$0.0419 
Schedule of Share-Based Payment Award, Equity Instruments Other than Options, Valuation Assumptions
The following table summarizes the assumptions used to calculate the grant date fair value of the Tranche 3 RSUs granted on August 6, 2024:

Expected term for performance period (in years)4.9
Expected volatility74.6%
Risk-free interest rate3.7%
Share-Based Payment Arrangement, Cost by Plan
The following table presents the stock-based compensation costs recognized related to our RSUs for the year ended on June 30, 2025:
Year ended June 30, 2025
Stock-Based Compensation Cost IncurredRemaining costs to recognize, if all vesting conditions are metWeighted-average remaining contractual term (in years)
IPO Awards (Tranche 1)$2,673,562 $5,882,626 2.01
IPO Awards (Tranche 2)663,601 1,441,493 2.01
IPO Awards (Tranche 3)1,816,642 4,013,983 2.01
Retention Awards658,639 327,903 0.50
Less: Forfeitures(70,676)— 
Total cost incurred$5,741,768 $11,666,005 
Total stock compensation costs capitalized$1,957,050 
Total stock compensation costs expensed3,784,718 
Total cost incurred$5,741,768