v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (30,496) $ (39,624)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7 86
Stock-based compensation 4,404 4,355
Foreign exchange (gain) loss, net 486 2,585
Performance bonds Facility Fee 2,205 0
Loss on remeasurement of assets classified as held for sale 0 376
Accretion of asset retirement obligations 1,243 1,042
Checkerboard fee 0 5,950
Accrued interest income (271) 0
Interest expense 334 381
Changes in operating assets and liabilities:    
Trade and other receivables 2,859 (1,275)
Prepaid expenses and other assets (7,845) (180)
Accounts payable and accrued expenses (8,263) (3,300)
Other non-current liabilities 740 (32)
Net cash used in operating activities (34,597) (29,636)
Cash flows from investing activities:    
Payments for property, plant and equipment (415) (290)
Payments for exploration and evaluation (112,029) (94,201)
Payments for assets under construction (37,289) (15,637)
Payment of interest on finance lease liabilities (3,406) (2,799)
Payment of interest on borrowings (4,960) 0
Payment for Falcon Acquisition, including transaction costs, net of cash acquired (12,146) 0
Payments in relation to assignment of notes receivable (17,435) 0
Proceeds from sale of assets held for sale 0 7,990
Proceeds from government grants for exploration 120 6,169
Net cash used in investing activities (187,560) (98,768)
Cash flows from financing activities:    
Proceeds from issue of common stock 308,498 46,092
Contributions received from noncontrolling interest holders 74,517 61,457
Advance contributions received from noncontrolling interest holders 0 450
Proceeds from issue of common stock, awaiting issuance 0 5,722
Common stock issue transaction costs (17,517) (3,194)
Proceeds from borrowings 58,883 0
Payment of debt issuance costs (3,619) 0
Payment of transaction costs on common stock, awaiting issuance 0 (401)
Advance payment of common stock issue transaction costs 0 (768)
Payment of performance bond facility establishment fee (271) (536)
Repayment of lease liabilities (8,225) (7,766)
Net cash from financing activities 412,266 101,056
Net increase (decrease) in cash and cash equivalents and restricted cash 190,108 (27,348)
Cash and cash equivalents and restricted cash at the beginning of period 45,161 74,746
Effects of exchange rate changes on cash and cash equivalents (4,174) (2,237)
Cash and cash equivalents and restricted cash at the end of period 231,095 45,161
Non-cash investing and financing activities:    
Accrued capital expenditure 41,205 7,959
Accrued stock issuance costs 0 (657)
Asset retirement obligations (229) (524)
Stock-based compensation reserve (7,707) (6,303)
Contribution receivable from noncontrolling interest holders 1,472 7,051
Operating lease right-of use assets and lease liabilities 1,281 587
Interest accrued on finance lease liabilities (284) (492)
Finance lease right-of-use assets and lease liabilities (1,858) (7,760)
Accrued debt issuance costs 0 0
Interest and fee payable (1,060) 0
Non-cash finance lease costs capitalized to unproved properties 8,755 10,106
Non-cash equity considerations 2,188 0
Accrued transaction costs 10,375 0
Equity consideration for Falcon Acquisition $ 226,819 $ 0