v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
3 Months Ended 9 Months Ended
Mar. 31, 2025
USD ($)
Sep. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Sep. 30, 2023
USD ($)
Mar. 31, 2025
USD ($)
Mar. 31, 2025
AUD ($)
Mar. 31, 2024
USD ($)
Mar. 31, 2024
AUD ($)
Cash flows from operating activities:                
Net loss $ (8,172,646) $ (6,755,567) $ (2,647,338) $ (3,752,133) $ (30,428,317)   $ (13,919,968)  
Adjustments to reconcile net loss to net cash provided by operating activities:                
Depreciation and amortization 23,217   31,831   84,632   89,915  
Stock-based compensation         3,027,935   429,661  
Foreign exchange (gain) loss, net (141,876)   (659,088)   1,340,008   (384,896)  
Loss on remeasurement of assets classified as held for sale         376,000   25,605  
Accretion of asset retirement obligations 274,627   230,910   774,431   660,507  
Checkerboard fee 0   0   5,950,000   0  
Interest expense         317,374   0  
Changes in operating assets and liabilities:                
Trade and other receivables         (565,956)   173,469  
Prepaid expenses and other assets         (164,433)   (417,780)  
Accounts payable and accrued expenses         (3,899,507)   2,679,186  
Other non-current liabilities         (17,131)   170,019  
Net cash used in operating activities         (23,204,964)   (10,494,282)  
Cash flows from investing activities:                
Payments for property, plant and equipment         (230,704)   0  
Payments for exploration and evaluation         (74,077,878)   (44,228,715)  
Payments for assets under construction         (11,510,818)   0  
Proceeds from sale of assets held for sale         7,990,000   444,568  
Payment of interest on finance lease liabilities         (2,020,176)   (1,578,081)  
Proceeds from research and development tax credit         6,168,698   0  
Net cash used in investing activities         (73,680,878)   (45,362,228)  
Cash flows from financing activities:                
Proceeds from issue of common stock         0   73,139,561  
Proceeds from issue of shares under greenshoe option         7,410,000   0  
Contributions received from noncontrolling interest holders         48,456,725   12,514,540  
Common stock issue transaction costs         (479,150)   (2,470,017)  
Payment of performance bond facility establishment fee         (535,527)   0  
Payment of deferred offering costs         0   (3,315,503)  
Repayment of lease liabilities         (6,507,928)   (3,723,300)  
Net cash from financing activities         48,344,120   76,145,281  
Net (decrease) increase in cash and cash equivalents and restricted cash         (48,541,722)   20,288,771  
Cash and cash equivalents and restricted cash at the beginning of period   $ 74,745,897   $ 7,056,136 74,745,897   7,056,136  
Effects of exchange rate changes on cash and cash equivalents         (568,581)   (1,436,333)  
Cash and cash equivalents and restricted cash at the end of period $ 25,635,594   $ 25,908,574   25,635,594   25,908,574  
Non-cash investing and financing activities:                
Accrued capital expenditure         9,871,783   (5,275,310)  
Accrued stock issuance cost           $ 0   $ 284,795
Asset retirement obligations         (476,728)   (72,433)  
Stock-based compensation         (4,475,678)   (429,661)  
Contribution receivable from noncontrolling interest holders         6,764,940   2,082,670  
Operating lease right-of-use assets and lease liabilities         (225,108)   (605,228)  
Interest accrued on finance lease liabilities         (524,158)   (743,963)  
Finance lease right-of-use assets and lease liabilities         (5,897,712)   (29,233,663)  
Non-cash finance lease costs capitalized to unproved properties         $ 7,816,967   $ 11,128,132  

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