v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (39,623,177) $ (23,850,769)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 85,947 120,444
Stock-based compensation 4,354,626 555,525
Foreign exchange (gain) loss, net 2,584,809 (35,937)
Loss on remeasurement of assets classified as held for sale 376,000 25,605
Accretion of asset retirement obligations 1,042,169 891,961
Checkerboard fee 5,950,000 0
Interest expense 381,044 0
Non-cash interest on convertible notes 0 34,432
Loss on extinguishment of debt 0 3,883,980
Fair value loss on convertible debt 0 34,700
Changes in operating assets and liabilities:    
Trade and other receivables (1,275,416) 118,124
Prepaid expenses and other assets (180,267) (2,430,729)
Accounts payable and accrued expenses (3,300,154) 9,302,147
Other non-current liabilities (32,950) (47,424)
Net cash used in operating activities (29,637,369) (11,397,941)
Cash flows from investing activities:    
Payments for property, plant and equipment (290,429) 0
Payments for exploration and evaluation (94,200,588) (60,183,148)
Payments for assets under construction (15,636,848) (3,516,014)
Proceeds from sale of assets held for sale 7,990,000 444,568
Payment of interest on finance lease liabilities (2,798,557) (2,854,414)
Proceeds from research and development tax credit 6,168,698 0
Net cash used in investing activities (98,767,724) (66,109,008)
Cash flows from financing activities:    
Proceeds from issue of common stock 46,092,336 148,626,184
Contributions received from noncontrolling interest holders 61,457,299 17,206,459
Advance contributions received from noncontrolling interest holders 450,239 0
Proceeds from issue of common stock, awaiting issuance 5,722,374 0
Common stock issue transaction costs (3,193,650) (13,976,892)
Payment of transaction costs on common stock, awaiting issuance (400,902) 0
Advance payment of common stock issue transaction costs (768,275) 0
Payment of performance bond facility establishment fee (535,527) 0
Repayment of lease liabilities (7,765,972) (5,470,379)
Net cash from financing activities 101,057,922 146,385,372
Net (decrease) increase in cash and cash equivalents and restricted cash (27,347,171) 68,878,423
Cash and cash equivalents and restricted cash at the beginning of period 74,745,897 7,056,136
Effects of exchange rate changes on cash and cash equivalents (2,237,369) (1,188,662)
Cash and cash equivalents and restricted cash at the end of period 45,161,357 74,745,897
Non-cash investing and financing activities:    
Accrued capital expenditure 7,959,217 2,797,103
Accrued stock issuance costs (657,114) 1,640,892
Asset retirement obligations (523,732) (72,433)
Stock-based compensation (6,302,791) (555,525)
Contribution receivable from noncontrolling interest holders 7,051,172 8,857,842
Operating lease right-of use assets and lease liabilities 587,280 (502,939)
Interest accrued on finance lease liabilities (492,185) (277,966)
Finance lease right-of-use assets and lease liabilities (7,759,749) (32,104,131)
Non-cash finance lease costs capitalized to unproved properties 10,105,620 14,539,059
Extinguishment of accrued capital expenditure 0 (7,785,000)
Convertible notes issued in exchange of extinguishment of debt 0 11,668,980
Common stock for conversion of convertible notes $ 0 $ (11,738,112)