v3.26.3
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation The following table, which reflects the Group's retrospective adoption of ASU 2023-09, presents a reconciliation of the U.S. federal statutory rate to the Group's effective tax rate, including the amount (in thousands):
For the years ended June 30,
20262025
AmountPercentAmountPercent
U.S federal statutory tax rate$(6,404)21.00 %$(8,321)21.00 %
State and local income taxes, net of federal income tax effect — — %— — %
Permanent difference1,072 3.52 %1,205 3.04 %
Foreign tax effects(1,777)(9.00)%(2,276)(9.00)%
Australia
Statutory tax rate difference between Australia and United States(1,786)(9.00)%2,276 (5.74)%
Valuation allowance recognized1,786 (9.00)%2,276 (5.74)%
Rest of world
Statutory tax rate difference between Australia and rest of world9 14.50 %N/AN/A
Valuation allowance recognized9 14.50 %N/AN/A
Effects of changes in tax laws or rates enacted in the current period(7,109)23.31 %(9,391)23.69 %
Schedule of Deferred Tax Assets and Liabilities
Significant components of deferred tax assets (liabilities) are as follows (in thousands):
June 30,
20262025
Deferred tax assets:
Asset retirement obligations
$360 $315 
Transaction costs arising on common stock issued
599 1,018 
Tax losses carried forward
198,600 115,669 
Leases
2,589 2,491 
Employee benefits
215 279 
Accrued expenses and liabilities
780 317 
Other
873 243 
Total deferred tax assets
204,016 120,332 
Deferred tax liabilities:
Exploration assets
(157,039)(80,596)
Other
(50)(101)
Total deferred tax liabilities
(157,089)(80,697)
Total net deferred tax assets
46,927 39,634 
Less: Valuation allowance
(46,927)(39,634)
Net deferred tax assets
$— $—