v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (6,755,567) $ (3,752,133)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 30,675 29,012
Stock-based compensation 1,129,450 268,403
Foreign exchange (gain) loss, net 254,032 (614,346)
Loss on remeasurement of assets classified as held for sale 376,000 0
Accretion of asset retirement obligations 257,738 214,315
Changes in operating assets and liabilities:    
Trade and other receivables 879,882 76,299
Prepaid expenses and other assets (184,096) (969,309)
Accounts payable and accrued expenses (150,084) 1,242,374
Other non-current liabilities 8,394 162,590
Net cash used in operating activities (4,153,576) (3,342,795)
Cash flows from investing activities:    
Payments for exploration and evaluation (12,226,577) (18,867,528)
Payments for assets under construction (2,669,138) 0
Advance received for sale of assets held for sale 400,000 0
Net cash used in investing activities (14,495,715) (18,867,528)
Cash flows from financing activities:    
Proceeds from issue of common stock   36,151,220
Proceeds from issue of shares under greenshoe option 7,410,000  
Contributions received from noncontrolling interest holders 11,454,459 0
Common stock issue transaction costs (2,120,042) (1,752,807)
Net cash from financing activities 16,744,417 34,398,413
Net (decrease) increase in cash and cash equivalents and restricted cash (1,904,874) 12,188,090
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 1,200,981 2,377,745
Cash and cash equivalents and restricted cash at the end of period 74,042,004 21,621,971
Non-cash investing and financing activities:    
Accrued capital expenditure 2,683,682 619,591
Asset retirement obligations (326,433) (72,433)
Stock-based compensation (1,129,450) (268,403)
Contribution receivable from noncontrolling interest holders 3,306,021 6,149,495
Operating lease right-of-use assets and lease liabilities (57,052) (78,933)
Interest accrued on finance lease liabilities (795,924) (815,910)
Finance lease right-of-use assets and lease liabilities 0 (25,812,769)
Non-cash finance lease costs capitalized to unproved properties $ 3,328,639 $ 3,913,442

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