Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2022 | Feb. 06, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001502377 | |
Entity Registrant Name | Contango ORE, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-35770 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-3431051 | |
Entity Address, Address Line One | 3700 BUFFALO SPEEDWAY, SUITE 925 | |
Entity Address, City or Town | Houston | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77098 | |
City Area Code | 713 | |
Local Phone Number | 877-1311 | |
Title of 12(b) Security | Common Stock, Par Value $0.01 per share | |
Trading Symbol | CTGO | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,217,368 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2022 | Jun. 30, 2022 |
CURRENT ASSETS: | ||
Cash | $ 8,765,154 | $ 23,095,101 |
Restricted cash | 231,000 | 231,000 |
Prepaid expenses and other | 816,596 | 453,353 |
Total current assets | 9,812,750 | 23,779,454 |
LONG-TERM ASSETS: | ||
Investment in Peak Gold (Note 5) | 0 | 0 |
Property & equipment, net | 13,446,822 | 13,514,531 |
Total long-term assets | 13,446,822 | 13,514,531 |
TOTAL ASSETS | 23,259,572 | 37,293,985 |
CURRENT LIABILITIES: | ||
Accounts payable | 150,677 | 633,856 |
Accrued liabilities | 1,254,837 | 870,981 |
Total current liabilities | 1,405,514 | 1,504,837 |
NON-CURRENT LIABILITIES: | ||
Advance royalty reimbursement | 1,200,000 | 1,200,000 |
Asset retirement obligations | 234,056 | 228,082 |
Contingent consideration liability | 1,847,063 | 1,847,063 |
Debt, net | 19,350,322 | 19,239,960 |
Total non-current liabilities | 22,631,441 | 22,515,105 |
TOTAL LIABILITIES | 24,036,955 | 24,019,942 |
COMMITMENTS AND CONTINGENCIES (NOTE 14) | ||
STOCKHOLDERS’ EQUITY/(DEFICIT): | ||
Common Stock, $0.01 par value, 45,000,000 shares authorized; 7,101,395 shares issued and outstanding at December 31, 2022; 6,860,420 shares issued and 6,769,923 shares outstanding at June 30, 2022) | 71,014 | 68,604 |
Additional paid-in capital | 79,086,142 | 74,057,859 |
Treasury stock at cost (0 at December 31, 2022; and 90,497 shares at June 30, 2022) | 0 | (2,318,182) |
Accumulated deficit | (79,934,539) | (58,534,238) |
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT) | (777,383) | 13,274,043 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT) | $ 23,259,572 | $ 37,293,985 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2022 | Jun. 30, 2022 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 45,000,000 | 45,000,000 |
Common stock, shares issued (in shares) | 7,101,395 | 6,860,420 |
Common stock, shares outstanding (in shares) | 7,101,395 | 6,769,923 |
Treasury stock, shares (in shares) | 0 | 90,497 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
EXPENSES: | ||||
Claim rental expense | $ (126,451) | $ (157,163) | $ (273,376) | $ (306,973) |
Exploration expense | (2,219,913) | (1,219,437) | (6,616,483) | (2,165,682) |
Depreciation expense | (34,214) | (8,933) | (68,428) | (13,715) |
Accretion expense | (2,948) | (3,560) | (5,974) | (3,560) |
General and administrative expense | (2,176,097) | (2,796,664) | (4,600,164) | (4,766,933) |
Total expenses | (4,559,623) | (4,185,757) | (11,564,425) | (7,256,863) |
OTHER INCOME/(EXPENSE): | ||||
Interest income | 7,799 | 494 | 16,344 | 991 |
Interest expense | (446,707) | 53,224 | (896,177) | (3,380) |
Loss from equity investment in Peak Gold, LLC (Note 5) | (9,310,000) | (743,000) | (9,310,000) | (2,188,000) |
Insurance recoveries | 0 | 0 | 338,301 | 0 |
Other income | 0 | 0 | 15,656 | 0 |
Total other income/(expense) | (9,748,908) | (689,282) | (9,835,876) | (2,190,389) |
LOSS BEFORE TAXES | (14,308,531) | (4,875,039) | (21,400,301) | (9,447,252) |
Income tax (expense)/benefit | 0 | 0 | 0 | 0 |
NET LOSS | $ (14,308,531) | $ (4,875,039) | $ (21,400,301) | $ (9,447,252) |
LOSS PER SHARE | ||||
Basic and diluted (in dollars per share) | $ 2.10 | $ 0.72 | $ 3.15 | $ 1.41 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||||
Basic and diluted (in shares) | 6,807,317 | 6,751,581 | 6,787,864 | 6,716,076 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (21,400,301) | $ (9,447,252) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 1,598,421 | 2,278,160 |
Depreciation expense | 68,428 | 13,715 |
Accretion expense | 5,974 | 3,560 |
Loss from equity investment in Peak Gold, LLC | 9,310,000 | 2,188,000 |
Amortization of debt discount and debt issuance fees | 335,047 | 0 |
Changes in operating assets and liabilities: | ||
Increase in prepaid expenses and other | (363,243) | (721,162) |
Increase/(decrease) in accounts payable and accrued liabilities | (100,043) | 337,558 |
Decrease in income tax receivable | 0 | (80,000) |
Net cash used in operating activities | (10,545,717) | (5,427,421) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Cash invested in Peak Gold, LLC | (9,310,000) | (2,188,000) |
Acquisition of property, plant, and equipment | 0 | (13) |
Cash paid for acquisition of Alaska Gold Torrent, LLC, net of cash received | 0 | (5,393,305) |
Net cash used by investing activities | (9,310,000) | (7,581,318) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash paid for shares withheld from employees for payroll tax withholding | (86,932) | (69,307) |
Debt issuance costs | 14,202 | 0 |
Net cash provided by financing activities | 5,525,770 | (112,867) |
NET DECREASE IN CASH | (14,239,947) | (13,121,606) |
CASH AND RESTRICTED CASH, BEGINNING OF PERIOD | 23,326,101 | 35,220,588 |
CASH AND RESTRICTED CASH, END OF PERIOD | 8,996,154 | 22,098,982 |
Supplemental disclosure of cash flow information | ||
Interest expense | 716,687 | 0 |
Cash paid for income taxes | 0 | (80,000) |
Non-cash investing and financing activities | ||
Interest expense paid with treasury stock | 238,886 | 0 |
Note payable issued for acquisition of Alaska Gold Torrent, LLC | 0 | (6,250,000) |
Direct transaction costs for acquisition of Alaska Gold Torrent, LLC financed in accounts payable | 0 | 719 |
Asset retirement obligations | 0 | 218,927 |
Contingent liability for acquisition of Alaska Gold Torrent, LLC | 0 | (1,847,063) |
Total non-cash investing activities | 238,886 | 8,316,709 |
Director [Member] | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash proceeds from capital raise, net | $ 5,598,500 | $ (43,560) |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Shareholders' Equity/(Deficit) (Unaudited) - USD ($) | Shares for Convertible Note Interest Payment [Member] Common Stock [Member] | Shares for Convertible Note Interest Payment [Member] Additional Paid-in Capital [Member] | Shares for Convertible Note Interest Payment [Member] Treasury Stock [Member] | Shares for Convertible Note Interest Payment [Member] Retained Earnings [Member] | Shares for Convertible Note Interest Payment [Member] | Treasury Shares Issued in Common Stock Issuance [Member] Common Stock [Member] | Treasury Shares Issued in Common Stock Issuance [Member] Additional Paid-in Capital [Member] | Treasury Shares Issued in Common Stock Issuance [Member] Treasury Stock [Member] | Treasury Shares Issued in Common Stock Issuance [Member] Retained Earnings [Member] | Treasury Shares Issued in Common Stock Issuance [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Jun. 30, 2021 | 6,675,746 | ||||||||||||||
Balance at Jun. 30, 2021 | $ 66,757 | $ 69,509,606 | $ (35,027,588) | $ 34,548,775 | |||||||||||
Stock-based compensation | 1,021,851 | 1,021,851 | |||||||||||||
Net loss | $ 0 | 0 | 0 | (4,572,213) | (4,572,213) | ||||||||||
Cost of common stock issuance | (43,560) | (43,560) | |||||||||||||
Restricted shares activity (in shares) | 10,000 | ||||||||||||||
Restricted shares activity | $ 100 | (100) | 0 | 0 | |||||||||||
Balance (in shares) at Sep. 30, 2021 | 6,685,746 | ||||||||||||||
Balance at Sep. 30, 2021 | $ 66,857 | 70,487,797 | 0 | (39,599,801) | 30,954,853 | ||||||||||
Balance (in shares) at Jun. 30, 2021 | 6,675,746 | ||||||||||||||
Balance at Jun. 30, 2021 | $ 66,757 | 69,509,606 | (35,027,588) | 34,548,775 | |||||||||||
Net loss | (9,447,252) | ||||||||||||||
Balance (in shares) at Dec. 31, 2021 | 6,809,246 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 68,092 | 71,742,871 | (69,307) | (44,474,840) | 27,266,816 | ||||||||||
Balance (in shares) at Sep. 30, 2021 | 6,685,746 | ||||||||||||||
Balance at Sep. 30, 2021 | $ 66,857 | 70,487,797 | 0 | (39,599,801) | 30,954,853 | ||||||||||
Stock-based compensation | 0 | 1,256,309 | 0 | 0 | 1,256,309 | ||||||||||
Net loss | $ 0 | 0 | 0 | (4,875,039) | (4,875,039) | ||||||||||
Restricted shares activity (in shares) | 123,500 | ||||||||||||||
Restricted shares activity | $ 1,235 | (1,235) | 0 | 0 | 0 | ||||||||||
Treasury Shares withheld for employee taxes | $ 0 | 0 | (69,307) | 0 | (69,307) | ||||||||||
Balance (in shares) at Dec. 31, 2021 | 6,809,246 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 68,092 | 71,742,871 | (69,307) | (44,474,840) | 27,266,816 | ||||||||||
Balance (in shares) at Jun. 30, 2022 | 6,860,420 | ||||||||||||||
Balance at Jun. 30, 2022 | $ 68,604 | 74,057,859 | (2,318,182) | (58,534,238) | 13,274,043 | ||||||||||
Stock-based compensation | 787,874 | 787,874 | |||||||||||||
Treasury shares issued | $ 0 | $ 0 | $ 138,886 | $ 0 | $ 138,886 | ||||||||||
Treasury shares withheld | 0 | 0 | (27,693) | 0 | (27,693) | ||||||||||
Net loss | $ 0 | 0 | 0 | (7,091,770) | (7,091,770) | ||||||||||
Balance (in shares) at Sep. 30, 2022 | 6,860,420 | ||||||||||||||
Balance at Sep. 30, 2022 | $ 68,604 | 74,845,733 | (2,206,989) | (65,626,008) | 7,081,340 | ||||||||||
Balance (in shares) at Jun. 30, 2022 | 6,860,420 | ||||||||||||||
Balance at Jun. 30, 2022 | $ 68,604 | 74,057,859 | (2,318,182) | (58,534,238) | 13,274,043 | ||||||||||
Net loss | (21,400,301) | ||||||||||||||
Balance (in shares) at Dec. 31, 2022 | 7,101,395 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 71,014 | 79,086,142 | 0 | (777,383) | |||||||||||
Balance (in shares) at Sep. 30, 2022 | 6,860,420 | ||||||||||||||
Balance at Sep. 30, 2022 | $ 68,604 | 74,845,733 | (2,206,989) | (65,626,008) | 7,081,340 | ||||||||||
Stock-based compensation | 0 | 810,547 | 0 | 0 | 810,547 | ||||||||||
Treasury shares issued | $ 0 | $ 0 | $ 100,000 | $ 0 | $ 100,000 | $ (425) | $ 2,166,228 | $ 0 | $ 2,165,803 | ||||||
Treasury shares withheld | 0 | 0 | (59,239) | 0 | (59,239) | ||||||||||
Net loss | $ 0 | 0 | 0 | (14,308,531) | (14,308,531) | ||||||||||
Issuance of common stock (in shares) | 283,500 | ||||||||||||||
Issuance of common stock | $ 2,835 | 2,844,257 | 0 | 0 | 2,847,092 | ||||||||||
Treasury shares issued in common stock issuance (in shares) | (42,525) | ||||||||||||||
Warrants | 0 | 657,105 | 0 | 0 | 657,105 | ||||||||||
Cost of common stock issuance | $ 0 | (71,500) | 0 | $ 0 | (71,500) | ||||||||||
Balance (in shares) at Dec. 31, 2022 | 7,101,395 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 71,014 | $ 79,086,142 | $ 0 | $ (777,383) |
Note 1 - Organization and Busin
Note 1 - Organization and Business | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Contango ORE, Inc. (“CORE” or the “Company”) engages in exploration for gold ore and associated minerals in Alaska. The Company conducts its operations through three ● a 30.0% membership interest in Peak Gold, LLC (the “Peak Gold JV”), which leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 additional acres of State of Alaska mining claims (such combined acreage, the “Peak Gold JV Property”) for exploration and development, including in connection with the Peak Gold JV's plan to mine ore from the Peak and North Peak deposits within the Peak Gold JV Property (the “Manh Choh Project”); ● its wholly-owned subsidiary, Alaska Gold Torrent, LLC, an Alaska limited liability company (“AGT”), which leases the mineral rights to approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc., located in three 75 10 ● its wholly-owned subsidiary, Contango Minerals Alaska, LLC (“Contango Minerals”), which separately owns the mineral rights to approximately 145,280 acres of State of Alaska mining claims for exploration, including (i) approximately 69,780 acres located immediately northwest of the Peak Gold JV Property (the “Eagle/Hona Property”), (ii) approximately 14,800 acres located northeast of the Peak Gold JV Property (the “Triple Z Property”), (iii) approximately 52,700 acres of new property in the Richardson district of Alaska (the “Shamrock Property”) and (iv) approximately 8,000 acres located to the north and east of the Lucky Shot Property (the “Willow Property” and, together with the Eagle/Hona Property, the Triple Z Property, and the Shamrock Property, collectively the “Minerals Property”). The Company relinquished approximately 69,000 acres located on the Eagle/Hona prospect in November 2022. The Lucky Shot Property and the Minerals Property are collectively referred to in these Notes to Unaudited Condensed Consolidated Financial Statements as the “Contango Properties”. The Company’s Manh Choh Project is in the development stage. All other projects are in the exploration stage. The Company has been involved, directly and through the Peak Gold JV, in exploration on the Manh Choh Project for twelve two 240 400 The Management Committee of the Peak Gold JV (the "Management Committee") approved a calendar year 2022 July 2022. July 2022, December 31, 2022, 2023, first 2023, first first second 2024. At the Lucky Shot Property, the Company engaged Atkinson Construction and Major Drilling as contractors to execute the 2022 29 June 2022, November 29 third On the Shamrock Property, the Company conducted soil and surface rock chip sampling during 2021. 2023. not 2023. The Company’s 30.0% membership interest in the Peak Gold JV, its ownership of AGT and Contango Minerals, and cash on hand constitute substantially all of the Company’s assets. The Company’s fiscal year end is June 30. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including instructions to Form 10 -Q and Article 8 of Regulation S- X. Accordingly, they do not include all the information and footnotes required by US GAAP for complete annual consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the consolidated audited financial statements and notes included in the Company ’s Form 10 -K for the fiscal year ended June 30, 2022. The results of operations for the three six ended December 31, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2023. |
Note 3 - Liquidity
Note 3 - Liquidity | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Liquidity [Text Block] | 3. The Company’s cash needs going forward will primarily relate to capital calls from the Peak Gold JV, exploration of the Contango Properties, and general and administrative expenses of the Company. If a large budget is undertaken by the Peak Gold JV, and no may not twelve may not no may not |
Note 4 - Summary of Significant
Note 4 - Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 4. Summary of Significant Accounting Policies Please see the Company's Form 10 June 30, 2022 no |
Note 5 - Investment in the Peak
Note 5 - Investment in the Peak Gold JV | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 5 . Investment in the Peak Gold JV The Company initially recorded its investment at the historical book value of the assets contributed to the Peak Gold JV, which was approximately $1.4 million. As of December 31, 2022, KG Mining acquired 70% of the Peak Gold JV on December 31, 2020 in connection with the Kinross Transactions. December 31, 2022, 3 0.0% The following table is a roll-forward of the Company's investment in the Peak Gold JV as of December 31, 2022: Investment in Peak Gold, LLC Investment balance at June 30, 2021 $ — Investment in Peak Gold, LLC 3,706,000 Loss from equity investment in Peak Gold, LLC (3,706,000 ) Investment balance at June 30, 2022 $ — Investment in Peak Gold, LLC 9,310,000 Loss from equity investment in Peak Gold, LLC (9,310,000 ) Investment balance at December 31, 2022 $ — In conjunction with the CORE Transactions, and KG Mining assuming the role of manager of the Peak Gold JV, the Peak Gold JV converted its method of accounting from US GAAP to International Financial Reporting Standards (“IFRS”). The condensed unaudited financial statements presented below have been converted from IFRS to US GAAP for presentation purposes. The following table presents the condensed unaudited results of operations for the Peak Gold JV for the three six December 31, 2022 2021, 31, 2022 in accordance with US GAAP: Three Months Ended Three Months Ended Six Months Ended Six Months Ended Period from Inception January 8, 2015 to December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 EXPENSES: Exploration expense $ 2,552,237 $ 2,293,331 $ 3,990,993 $ 5,349,435 $ 62,402,520 General and administrative 31,843 387,100 108,892 692,157 12,389,912 Total expenses 2,584,080 2,680,431 4,099,885 6,041,592 74,792,432 NET LOSS $ 2,584,080 $ 2,680,431 $ 4,099,885 $ 6,041,592 $ 74,792,432 The Company’s share of the Peak Gold JV’s results of operations for the three six December 31, 2022 three six 31 , 2021 . The Peak Gold JV loss does not December 31, 2022 June 30, 2022, zero each December 31, 2022 June 30, 2022. not 31, 2022. December 31, 2022 |
Note 6 - Prepaid Expenses and O
Note 6 - Prepaid Expenses and Other Assets | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | 6. The Company has prepaid expenses and other assets of $816,596 and $453,353 as of December 31, 2022 and June 30, 2022, |
Note 7 - Net Loss Per Share
Note 7 - Net Loss Per Share | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. A reconciliation of the components of basic and diluted net loss per share of Common Stock is presented below: Three Months Ended December 31, 2022 2021 Net Loss Weighted Average Shares Loss Per Share Net Loss Weighted Average Shares Loss Per Share Basic Net Loss per Share: Net loss attributable to common stock $ (14,308,531 ) 6,807,317 $ (2.10 ) $ (4,875,039 ) 6,751,581 $ (0.72 ) Diluted Net Loss per Share: Net loss attributable to common stock $ (14,308,531 ) 6,807,317 $ (2.10 ) $ (4,875,039 ) 6,751,581 $ (0.72 ) Six Months Ended December 31, 2022 2021 Net Loss Weighted Average Shares Loss Per Share Net Loss Weighted Average Shares Loss Per Share Basic Net Loss per Share: Net loss attributable to common stock $ (21,400,301 ) 6,787,864 $ (3.15 ) $ (9,447,252 ) 6,716,076 $ (1.41 ) Diluted Net Loss per Share: Net loss attributable to common stock $ (21,400,301 ) 6,787,864 $ (3.15 ) $ (9,447,252 ) 6,716,076 $ (1.41 ) Options and warrants to purchase 383,500 shares of Common Stock of the Company were outstanding as of December 31, 2022, December 31, 2021. not three six December 31, 2022 2021 no December 31, 2021. |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. ’ Equity The Company has 45,000,000 shares of Common Stock authorized, and 15,000,000 authorized shares of preferred stock. As of December 31, 2022, December 31, 2022, No January 2023 January 2025. December 2022 On December 23, 2022 “December 2022 “December 2022 “December 2022 December 2022 December 2022 “December 2022 “December 2022 “December 2022 “December 2022 December 23, 2022 December 2022 December 2022 December 2022 Pursuant to the December 2022 December 2022 December 2022 second December 2022 may December 2022 December 2022 2 4.66%; 1 37.73%; Petrie Partners Securities, LLC (“Petrie”) assisted the Company with the December 2022 December 2022 December 2022 December 2022 not 1933, December 2022 December 2022 Rights Plan Termination and Rights Agreement On September 23, 2020, Pursuant to the Rights Agreement, the Board declared a dividend of one October 5, 2020. no 18.0% 20.0% one one 1/1000 The Rights Agreement had an initial term of one September 22, 2021. September 21, 2021, September 22, 2022. August 31, 2022, September 22, 2023. |
Note 9 - Sales Transaction With
Note 9 - Sales Transaction With KG Mining | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 9. On September 29, 2020, September 30, 2020. may Concurrently with the Purchase Agreement, KG Mining, in a separate transaction, acquired from Royal Gold (i) 100% of the equity of Royal Alaska, LLC , which held a 40.0% membership interest in the Peak Gold JV and (ii) 809,744 shares of Common Stock held by Royal Gold. After the consummation of the Kinross Transactions, CORE Alaska retains a 30.0% membership interest in the Peak Gold JV. KG Mining now holds a 70.0% membership interest in the Peak Gold JV and serves as the manager and operator of the Peak Gold JV. KG Mining and CORE Alaska entered into the Amended and Restated Limited Liability Company Agreement of Peak Gold JV (“A&R JV LLCA”) on October 1, 2020 The Company recorded the $32.4 million cash proceeds and the 809,744 shares of Common Stock, received from the CORE Transactions, at fair value and recognized a gain on sale of $39.6 million. The Company valued the Common Stock consideration from the CORE Transactions consistent with the accounting guidance for non-monetary exchanges. The stock consideration was valued based on the implied fair value of the CORE Transactions in total less the cash proceeds. The total value of the CORE Transactions was equated to the value of the Company's 30.0% ownership in the Peak Gold JV, post the 30.0% 3 zero The Company recorded a non-current liability totaling $1.2 million associated with the cash received for the reimbursement prepayment to the Company of its proportionate share of certain silver royalty payments that the Peak Gold JV may 5% Prior to the CORE Transactions, the Peak Gold JV was a variable interest entity as defined by FASB ASU No. 2015 02, 810 not not After the Kinross Transactions, the Company retained a 30.0% membership interest in the Peak Gold JV. The Company continues to have significant influence in the Peak Gold JV pursuant to its right to designate one three |
Note 10 - Acquisition of Lucky
Note 10 - Acquisition of Lucky Shot Property | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Asset Acquisition [Text Block] | 10. On August 24, 2021 February 28, 2022 ( November 2021, not February 25, 2022. The Company will be obligated to pay CRH additional consideration if production on the Lucky Shot Property meets two first 1 2 1:65 second 1 2 30 thirty not no The Company also agreed to make $10,000,000 in expenditures during the 36 December 31, 2022, The Company evaluated this acquisition under ASC 805, 805 805 not not 480 3 no no |
Note 11 - Property & Equipment
Note 11 - Property & Equipment | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 11. The table below sets forth the book value by type of fixed asset as well as the estimated useful life: Asset Type Estimated Useful Life December 31, 2022 June 30, 2022 Mineral properties N/A - Units of Production $ 11,700,726 $ 11,700,007 Land Not Depreciated 87,737 87,737 Buildings and improvements 20-39 years 1,455,546 1,455,546 Machinery and equipment 3 - 10 years 287,635 287,635 Vehicles 5 years 135,862 135,862 Computer and office equipment 5 years 16,239 16,239 Furniture & fixtures 5 years 2,270 2,270 Less: Accumulated depreciation and amortization (124,168 ) (55,740 ) Less: Accumulated impairment (115,025 ) (115,025 ) Property & Equipment, net $ 13,446,822 $ 13,514,531 |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12 . On January 1, 2022, January 5, 2022, January 1, 2022), |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 13. On September 15, 2010, “2010 November 10, 2022, 2010 Under the Amended Equity Plan, the Board may may As of December 31, 2022, three six December 31, 2022 Stock-based compensation expense for the three six December 31, 2021 not may Restricted Stock. On December 1, 2020, two three December 31, 2022, December 2020 On August 16, 2021, three December 31, 2022, August 2021 On November 11, 2021, January 2023 January 2024. December 31, 2022, On February 2, 2022 four January 2023 January 2025. December 31, 2022, In December 2022, January 2023. December 2022 January 2025. December 31, 2022, As of December 31, 2022 , the total compensation cost related to unvested awards not Stock options. There were no stock option exercises during the three six December 31, 2022 . There were also no stock option exercises during the three and six months ended December 31, 2021. The Company applies the fair value method to account for stock option expense. Under this method, cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess All employee stock option grants are expensed over the stock option’s vesting period based on the fair value at the date the options are granted. The fair value of each option is estimated as of the date of grant using the Black-Scholes options-pricing model (Level 2 December 31, 2022, December 31, 2022. A summary of the status of stock options granted under the Equity Plan as of December 31, 2022 six Six Months Ended December 31, 2022 Shares Under Options Weighted Average Exercise Price Outstanding as of June 30, 2022 100,000 $ 14.50 Granted — Exercised — Forfeited — Outstanding at the end of the period 100,000 $ 14.50 Aggregate intrinsic value $ 1,052,000 Exercisable, end of the period 100,000 Aggregate intrinsic value $ 1,052,000 Available for grant, end of period 558,552 Weighted average fair value per share of options granted during the period $ — |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. Tetlin Lease . The Tetlin Lease had an initial ten-year term beginning July 2008 ten July 15, 2028, Pursuant to the terms of the Tetlin Lease, the Peak Gold JV was required to spend $350,000 per year until July 15, 2018 2011 $350,000 3 .0% 2 .25% $450,000. 0.75% on December 30, 2020. $450,000 not July 15, 2012, Gold Exploration. The Company’s Triple Z, Eagle/Hona, Shamrock, Willow, and Lucky Shot claims are all located on State of Alaska lands. The Company released its Bush and West Fork claims in November 2020. November 30 2022 2023 $355,805 2022. 1 31 year. As of December 31, 2022, four years, which is the maximum period allowable by Alaska law. The Company obtained 100% Lucky Shot Acquisition two first 1 2 second 1 2 30 thirty Royal Gold Royalties . Initially, the Peak Gold JV was obligated to pay Royal Gold (i) an overriding royalty of 3.0% should the Peak Gold JV derive revenues from the Tetlin Lease, the Additional Properties and certain other properties and (ii) an overriding royalty of 2.0% should the Peak Gold JV derive revenues from certain other properties. In conjunction with the Separation Agreement (described in Note 9 Retention Agreements. February 2019, one February 6, 2020, August 6, 2020 August 6, 2025. August 6, 2025. June 10, 2020, August 6, 2025, Short Term Incentive Plan June 10, 2020, two first second may not December 2020, January 1, 2022. January 2022, January 15, 2023. December 2022, January 2025. Roc Global Financing Fees. March 31, 2023. eighteen |
Note 15 - Income Taxes
Note 15 - Income Taxes | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. The Company recognized a full valuation allowance on its deferred tax asset as of December 31, 2022 June 30, 2022 zero three six December 31, 2022. zero three six December 31, 2021. three six December 31, 2022 2021. no not June 30, 2023. The Company reviews its tax positions quarterly for tax uncertainties. The Company did not December 31, 2022 June 30, 2022. On March 27, 2020, 19 not not 80% June 30, 2021. |
Note 16 - Debt
Note 16 - Debt | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 16. Debt On April 26, 2022 , The debenture bears interest at 8% per annum, payable quarterly, with 6% paid in cash and 2% paid in shares of Common Stock issued at the market price at the time of payment based on a 20 four s may may third 20 may first three In connection with the issuance of the debenture, the Company agreed to pay an establishment fee of 3% of the debenture face amount. In accordance with the investment agreement, QRC elected to receive the establishment fee in shares of Common Stock valued at $24.82 per share, for a total of 24,174 shares. The establishment fee shares were issued to QRC pursuant to an exemption from registration under Regulation S. QRC entered into an investor rights agreement with the Company in connection with the issuance of the debenture. The investor rights agreement contains provisions that require QRC and its affiliates, while they own 5% or more of our outstanding Common Stock, to standstill, not not not The debt carried an original issue discount of $0.6 million and debt issuance costs of approximately $0.2 million. As of December 31, 2022 June 30, 2022, December 31, 2022 June 30, 2022, 2 December 31, 2022 June 30, 2022 December 31, 2022 ( six December 31, 2022 ( three six December 31, 2022 June 30, 2022 April 26, 2022, June 30, 2022, December 31, 2022 not |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17. On January 19, 2023, “January 2023 “January 2023 “January 2023 January 2023 January 2023 “January 2023 “January 2023 “January 2023 “January 2023 January 19, 2023 January 2023 January 2023 January 2023 Pursuant to the January 2023 January 2023 January 2023 second January 2023 may Petrie assisted the Company with the January 2023 January 2023 January 2023 January 2023 not January 2023 January 2023 |
Note 5 - Investment in the Pe_2
Note 5 - Investment in the Peak Gold JV (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Roll-forward of Equity Method Investment [Table Text Block] | Investment in Peak Gold, LLC Investment balance at June 30, 2021 $ — Investment in Peak Gold, LLC 3,706,000 Loss from equity investment in Peak Gold, LLC (3,706,000 ) Investment balance at June 30, 2022 $ — Investment in Peak Gold, LLC 9,310,000 Loss from equity investment in Peak Gold, LLC (9,310,000 ) Investment balance at December 31, 2022 $ — |
The Joint Venture Company [Member] | |
Notes Tables | |
Summarized Income Statement of Equity Method Investment [Table Text Block] | Three Months Ended Three Months Ended Six Months Ended Six Months Ended Period from Inception January 8, 2015 to December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 December 31, 2022 EXPENSES: Exploration expense $ 2,552,237 $ 2,293,331 $ 3,990,993 $ 5,349,435 $ 62,402,520 General and administrative 31,843 387,100 108,892 692,157 12,389,912 Total expenses 2,584,080 2,680,431 4,099,885 6,041,592 74,792,432 NET LOSS $ 2,584,080 $ 2,680,431 $ 4,099,885 $ 6,041,592 $ 74,792,432 |
Note 7 - Net Loss Per Share (Ta
Note 7 - Net Loss Per Share (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended December 31, 2022 2021 Net Loss Weighted Average Shares Loss Per Share Net Loss Weighted Average Shares Loss Per Share Basic Net Loss per Share: Net loss attributable to common stock $ (14,308,531 ) 6,807,317 $ (2.10 ) $ (4,875,039 ) 6,751,581 $ (0.72 ) Diluted Net Loss per Share: Net loss attributable to common stock $ (14,308,531 ) 6,807,317 $ (2.10 ) $ (4,875,039 ) 6,751,581 $ (0.72 ) Six Months Ended December 31, 2022 2021 Net Loss Weighted Average Shares Loss Per Share Net Loss Weighted Average Shares Loss Per Share Basic Net Loss per Share: Net loss attributable to common stock $ (21,400,301 ) 6,787,864 $ (3.15 ) $ (9,447,252 ) 6,716,076 $ (1.41 ) Diluted Net Loss per Share: Net loss attributable to common stock $ (21,400,301 ) 6,787,864 $ (3.15 ) $ (9,447,252 ) 6,716,076 $ (1.41 ) |
Note 11 - Property & Equipment
Note 11 - Property & Equipment (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Asset Type Estimated Useful Life December 31, 2022 June 30, 2022 Mineral properties N/A - Units of Production $ 11,700,726 $ 11,700,007 Land Not Depreciated 87,737 87,737 Buildings and improvements 20-39 years 1,455,546 1,455,546 Machinery and equipment 3 - 10 years 287,635 287,635 Vehicles 5 years 135,862 135,862 Computer and office equipment 5 years 16,239 16,239 Furniture & fixtures 5 years 2,270 2,270 Less: Accumulated depreciation and amortization (124,168 ) (55,740 ) Less: Accumulated impairment (115,025 ) (115,025 ) Property & Equipment, net $ 13,446,822 $ 13,514,531 |
Note 13 - Stock-based Compens_2
Note 13 - Stock-based Compensation (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Six Months Ended December 31, 2022 Shares Under Options Weighted Average Exercise Price Outstanding as of June 30, 2022 100,000 $ 14.50 Granted — Exercised — Forfeited — Outstanding at the end of the period 100,000 $ 14.50 Aggregate intrinsic value $ 1,052,000 Exercisable, end of the period 100,000 Aggregate intrinsic value $ 1,052,000 Available for grant, end of period 558,552 Weighted average fair value per share of options granted during the period $ — |
Note 1 - Organization and Bus_2
Note 1 - Organization and Business (Details Textual) | 6 Months Ended | ||
Dec. 31, 2022 USD ($) a | Nov. 30, 2022 a | Sep. 29, 2020 | |
The Joint Venture Company [Member] | State of Alaska Mining Claims for Exploration and Development [Member] | |||
Area of Land (Acre) | 13,000 | ||
Contango Minerals [Member] | State of Alaska Mining Claims Located North and Northwest of Tetlin Lease [Member] | |||
Area of Land (Acre) | 145,280 | ||
Contango Minerals [Member] | State of Alaska Mining Claims Located Near Eagle/Hona Property [Member] | |||
Area of Land (Acre) | 69,780 | 69,000 | |
Contango Minerals [Member] | State of Alaska Mining Claims Located Near Triple Z Property [Member] | |||
Area of Land (Acre) | 14,800 | ||
Contango Minerals [Member] | State of Alaska Mining Claims Located in Richardson District [Member] | |||
Area of Land (Acre) | 52,700 | ||
Contango Minerals [Member] | State of Alaska Mining Claims Located North and East of Lucky Shot Property [Member] | |||
Area of Land (Acre) | 8,000 | ||
Tetlin Lease [Member] | The Joint Venture Company [Member] | |||
Area of Land (Acre) | 675,000 | ||
Alaska Hard Rock Lease [Member] | Alaska Gold Torrent, LLC [Member] | |||
Area of Land (Acre) | 8,600 | ||
The Joint Venture Company [Member] | |||
Equity Method Investment, Ownership Percentage | 30% | 30% | |
Expected Cash Needed | $ | $ 13.6 | ||
Equity Method Investment, Entity Shares of Expenditures, Amount | $ | 2.7 | ||
Exploration Budget, Funded Amount | $ | $ 1 |
Note 5 - Investment in the Pe_3
Note 5 - Investment in the Peak Gold JV (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | Jun. 29, 2021 | Sep. 30, 2020 | Sep. 29, 2020 | Jun. 30, 2020 | Jan. 08, 2015 | |
Equity Method Investments | $ 0 | $ 0 | $ 0 | |||||||
The Joint Venture Company [Member] | ||||||||||
Equity Method Investment, Aggregate Cost | $ 28,700,000 | 28,700,000 | $ 1,400,000 | |||||||
Equity Method Investment, Total Contributions | $ 28,700,000 | |||||||||
Equity Method Investment, Ownership Percentage | 30% | 30% | 30% | |||||||
Loss from Equity Method Investments, Unrecorded | $ 800,000 | $ 800,000 | $ 1,200,000 | $ 1,800,000 | ||||||
Equity Method Investment, Summarized Financial Information, Inception-to-date Cumulative Income (Loss) | 43,200,000 | 43,200,000 | 42,000,000 | |||||||
Equity Method Investments | $ 0 | 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Suspended Losses | $ 14,500,000 |
Note 5 - Investment in Peak Gol
Note 5 - Investment in Peak Gold JV - Roll-forward of Investment in the Joint Venture Company (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Investment balance | $ 0 | ||||
Investment in Peak Gold, LLC | 9,310,000 | $ 2,188,000 | |||
Loss from equity investment in Peak Gold, LLC | $ (9,310,000) | $ (743,000) | (9,310,000) | $ (2,188,000) | |
The Joint Venture Company [Member] | |||||
Investment balance | 0 | $ 0 | |||
Investment in Peak Gold, LLC | 9,310,000 | 3,706,000 | |||
Loss from equity investment in Peak Gold, LLC | $ (9,310,000) | $ (3,706,000) |
Note 5 - Investment in Peak G_2
Note 5 - Investment in Peak Gold JV - Condensed Results of Operations for Peak Gold, LLC (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 96 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | |
Exploration expense | $ 2,219,913 | $ 1,219,437 | $ 6,616,483 | $ 2,165,682 | |
General and administrative | 2,176,097 | 2,796,664 | 4,600,164 | 4,766,933 | |
Total expenses | 4,559,623 | 4,185,757 | 11,564,425 | 7,256,863 | |
The Joint Venture Company [Member] | |||||
Exploration expense | 2,552,237 | 2,293,331 | 3,990,993 | 5,349,435 | $ 62,402,520 |
General and administrative | 31,843 | 387,100 | 108,892 | 692,157 | 12,389,912 |
Total expenses | 2,584,080 | 2,680,431 | 4,099,885 | 6,041,592 | 74,792,432 |
NET LOSS | $ 2,584,080 | $ 2,680,431 | $ 4,099,885 | $ 6,041,592 | $ 74,792,432 |
Note 6 - Prepaid Expenses and_2
Note 6 - Prepaid Expenses and Other Assets (Details Textual) - USD ($) | Dec. 31, 2022 | Jun. 30, 2022 |
Prepaid Expense, Current, Total | $ 816,596 | $ 453,353 |
Note 7 - Net Loss Per Share (De
Note 7 - Net Loss Per Share (Details Textual) - shares | Dec. 31, 2022 | Dec. 31, 2021 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 383,500 | 100,000 |
Class of Warrant or Right, Outstanding (in shares) | 0 |
Note 7 - Net Loss Per Share - R
Note 7 - Net Loss Per Share - Reconciliation of the Components of Basic and Diluted Net Loss Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Dec. 31, 2022 | Dec. 30, 2022 | Dec. 31, 2021 | Dec. 30, 2021 | Dec. 31, 2022 | Dec. 30, 2022 | Dec. 31, 2021 | Dec. 30, 2021 | |
Net loss attributable to common stock, basic | $ (14,308,531) | $ (4,875,039) | $ (21,400,301) | $ (9,447,252) | ||||
Weighted Average Shares, basic (in shares) | 6,807,317 | 6,807,317 | 6,751,581 | 6,751,581 | 6,787,864 | 6,787,864 | 6,716,076 | 6,716,076 |
Income Per Share, basic (in dollars per share) | $ (2.10) | $ (2.10) | $ (0.72) | $ (0.72) | $ (3.15) | $ (3.15) | $ (1.41) | $ (1.41) |
Net loss attributable to common stock, diluted | $ (14,308,531) | $ (4,875,039) | $ (21,400,301) | $ (9,447,252) | ||||
Weighted Average Shares, diluted (in shares) | 6,807,317 | 6,751,581 | 6,787,864 | 6,716,076 | ||||
Income Per Share, diluted (in dollars per share) | $ (2.10) | $ (0.72) | $ (3.15) | $ (1.41) |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Details Textual) $ / shares in Units, $ in Millions | 1 Months Ended | |||||||
Jan. 19, 2023 $ / shares | Dec. 23, 2022 $ / shares shares | Oct. 05, 2020 $ / shares shares | Dec. 31, 2022 USD ($) shares | Jun. 30, 2022 shares | Dec. 31, 2021 shares | Sep. 23, 2020 shares | Sep. 14, 2020 | |
Common Stock, Shares Authorized (in shares) | 45,000,000 | 45,000,000 | ||||||
Preferred Stock, Shares Authorized (in shares) | 15,000,000 | |||||||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 7,101,395 | 6,769,923 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 383,500 | 100,000 | ||||||
Preferred Stock, Shares Issued (in shares) | 0 | |||||||
Rights Agreement, Exercise Price (in dollars per share) | $ / shares | $ 100 | |||||||
Rights Agreement, Number of Preferred Stock Issuable Per Right (in shares) | 0.001 | |||||||
Person or Group [Member] | ||||||||
Rights Agreement, Beneficial Ownership Percentage of Common Stock,Threshold | 18% | |||||||
Certain Passive Investors [Member] | ||||||||
Rights Agreement, Beneficial Ownership Percentage of Common Stock,Threshold | 20% | |||||||
December 2022 Warrants [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 25 | |||||||
December 2022 Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||
Warrants and Rights Outstanding, Measurement Input | 4.66 | |||||||
December 2022 Warrants [Member] | Measurement Input, Price Volatility [Member] | ||||||||
Warrants and Rights Outstanding, Measurement Input | 37.73 | |||||||
December 2022 Warrants [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||
December 2022 Warrants [Member] | Measurement Input, Expected Term [Member] | ||||||||
Warrants and Rights Outstanding, Measurement Input | 1 | |||||||
Class of Warrant or Right, Distributed for Each Share of Common Stock (in shares) | 1 | |||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 283,500 | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 20 | |||||||
Rights Agreement, Exercise Price (in dollars per share) | $ / shares | $ 25 | $ 25 | ||||||
Proceeds from Issuance of Common Stock, Net | $ | $ 5.6 | |||||||
Private Placement [Member] | Petrie Partners Securities, LLC [Member] | ||||||||
Private Placement Fee, Percentage | 3.25% | |||||||
Restricted Stock [Member] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 348,210 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 100,000 |
Note 9 - Sales Transaction Wi_2
Note 9 - Sales Transaction With KG Mining (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2022 | Jun. 30, 2022 | Jun. 29, 2021 | Sep. 29, 2020 | Jun. 30, 2020 |
Equity Method Investments | $ 0 | $ 0 | ||||
The Joint Venture Company [Member] | ||||||
Equity Method Invesment, Interest Sold, Percent | 30% | |||||
Equity Method Investment, Ownership Percentage | 30% | 30% | ||||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | $ 39,600,000 | |||||
Equity Method Investments | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |
The Joint Venture Company [Member] | KG Mining [Member] | ||||||
Equity Method Investment, Ownership Percentage by Other Owner | 70% | |||||
CORE Alaska [Member] | The Joint Venture Company [Member] | ||||||
Equity Method Invesment, Interest Sold, Percent | 30% | |||||
Proceeds from Sale of Equity Method Investments | $ 32,400,000 | |||||
Shares Received From Sale of Equity Method Investments (in shares) | 809,744 | |||||
Sale of Equity Method Investment, Prepayment of Reimbursement | $ 1,200,000 | |||||
Equity Method Investment, Ownership Percentage | 30% | |||||
KG Mining [Member] | Royal Alaska LLC [Member] | ||||||
Percentage Ownership in Company | 100% | |||||
Equity Method Investment, Ownership, Shares (in shares) | 809,744 | |||||
Royal Alaska LLC [Member] | The Joint Venture Company [Member] | ||||||
Equity Method Investment, Ownership Percentage | 40% |
Note 10 - Acquisition of Luck_2
Note 10 - Acquisition of Lucky Shot Property (Details Textual) - Alaska Gold Torrent, LLC [Member] | 16 Months Ended | |
Aug. 24, 2021 USD ($) oz | Dec. 31, 2022 | |
Asset Acquisition, Consideration Transferred, Total | $ 30,000,000 | |
Payments to Acquire Productive Assets, Total | 5,000,000 | |
Asset Acquisition, Acquired Asset Amount | 13,500,000 | |
Payments to Acquire Productive Assets, Including Working Capital Adjustments | 5,100,000 | |
Asset Acquisition, Consideration Transferred, Transaction Cost | 300,000 | |
Lucky Shot Prospect [Member] | ||
Asset Acquisition, Exploration Expenditures, Requirement, Minimum Amount During 36 Months Period | 10,000,000 | |
Common Stock [Member] | ||
Asset Acquisition, Contingent Consideration, Liability, Total | $ 1,850,000 | |
Production Threshold, One [Member] | ||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz | 500,000 | |
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz | 30,000 | |
Gold to Silver Ratio | 1:65 | |
Asset Acquisition, Consideration Transferred, Contingent Consideration | $ 5,000,000 | |
Production Threshold, One [Member] | Common Stock [Member] | ||
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable | $ 3,750,000 | |
Production Threshold, Two [Member] | ||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz | 1,000,000 | |
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz | 60,000 | |
Gold to Silver Ratio | 1:65 | |
Asset Acquisition, Consideration Transferred, Contingent Consideration | $ 5,000,000 | |
Production Threshold, Two [Member] | Common Stock [Member] | ||
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable | 5,000,000 | |
Promissory Note Issued with AGT Acquisition [Member] | ||
Asset Acquisition, Consideration Transferred, Liabilities Incurred | $ 6,250,000 |
Note 11 - Property & Equipmen_2
Note 11 - Property & Equipment - Fixed Assets (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Property, plant and equipment, gross | $ 13,446,822 | $ 13,514,531 |
Less: Accumulated depreciation and amortization | (124,168) | (55,740) |
Less: Accumulated impairment | (115,025) | (115,025) |
Mining Properties and Mineral Rights [Member] | ||
Property, plant and equipment, gross | 11,700,726 | 11,700,007 |
Land [Member] | ||
Property, plant and equipment, gross | 87,737 | 87,737 |
Building and Building Improvements [Member] | ||
Property, plant and equipment, gross | $ 1,455,546 | 1,455,546 |
Building and Building Improvements [Member] | Minimum [Member] | ||
Estimated useful life (Year) | 20 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Estimated useful life (Year) | 39 years | |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | $ 287,635 | 287,635 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Estimated useful life (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Estimated useful life (Year) | 10 years | |
Vehicles [Member] | ||
Property, plant and equipment, gross | $ 135,862 | 135,862 |
Estimated useful life (Year) | 5 years | |
Computer and Office Equipment [Member] | ||
Property, plant and equipment, gross | $ 16,239 | 16,239 |
Estimated useful life (Year) | 5 years | |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 2,270 | $ 2,270 |
Estimated useful life (Year) | 5 years |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - Restricted Stock [Member] - Director [Member] | Jan. 01, 2022 USD ($) $ / shares shares |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 160,000 |
Stock Repurchased During Period, Shares (in shares) | 60,100 |
Share Price (in dollars per share) | $ / shares | $ 25.60 |
Payments for Repurchase of Common Stock | $ | $ 1.5 |
Note 13 - Stock-based Compens_3
Note 13 - Stock-based Compensation (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||
Nov. 01, 2022 | Feb. 02, 2022 | Nov. 11, 2021 | Aug. 16, 2021 | Dec. 11, 2020 | Dec. 01, 2020 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 383,500 | 383,500 | 100,000 | 383,500 | 100,000 | |||||||
Share-Based Payment Arrangement, Expense | $ 810,547 | $ 1,256,309 | $ 1,598,421 | $ 2,278,160 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 2 years 7 days | |||||||||||
Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 348,210 | 348,210 | 348,210 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 100,000 | 100,000 | 100,000 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 2,487,376 | $ 2,487,376 | $ 2,487,376 | |||||||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Employee [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 6,667 | 6,667 | 6,667 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Amended Equity Plan [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 600,000 | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 2,600,000 | |||||||||||
The 2010 Plan [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 100,000 | 100,000 | 100,000 | 100,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | ||||||||||
The 2010 Plan [Member] | Restricted Stock [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 209,375 | 209,375 | 209,375 | |||||||||
The 2010 Plan [Member] | Restricted Stock [Member] | Two Employees [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 6,668 | 6,668 | 6,668 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 20,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
The 2010 Plan [Member] | Restricted Stock [Member] | Executives and Non-executive Directors [Member] | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 113,500 | 113,500 | 113,500 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 123,500 | 209,375 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Forfeitures (in shares) | 167,500 | |||||||||||
The 2010 Plan [Member] | Restricted Stock [Member] | Four Employees [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 12,000 | 12,000 |
Note 13 - Stock-based Compens_4
Note 13 - Stock-based Compensation - Summary of Stock Options (Details) | 3 Months Ended | 6 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | |
Outstanding (in shares) | 383,500 | 383,500 |
The 2010 Plan [Member] | ||
Outstanding (in shares) | 100,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 14.50 | |
Granted (in shares) | 0 | |
Granted, weighted average exercise price (in dollars per share) | $ / shares | ||
Exercised (in shares) | 0 | 0 |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | ||
Forfeited (in shares) | 0 | |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | ||
Outstanding (in shares) | 100,000 | 100,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 14.50 | $ 14.50 |
Aggregate intrinsic value, outstanding | $ | $ 1,052,000 | $ 1,052,000 |
Exercisable, end of the period (in shares) | 100,000 | 100,000 |
Exercisable, end of year, weighted average exercise price (in dollars per share) | $ / shares | ||
Aggregate intrinsic value, exercisable | $ | $ 1,052,000 | $ 1,052,000 |
Available for grant, end of period (in shares) | 558,552 | 558,552 |
Weighted average fair value per share of options granted during the period (in dollars per share) | $ / shares | $ 0 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) | 1 Months Ended | 6 Months Ended | 16 Months Ended | |||||||||
Aug. 24, 2021 USD ($) oz | Dec. 30, 2020 USD ($) | Jun. 10, 2020 USD ($) | Jul. 15, 2012 USD ($) | Dec. 31, 2022 USD ($) shares | Jan. 31, 2022 USD ($) shares | Dec. 31, 2020 USD ($) shares | Jul. 31, 2008 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Feb. 06, 2020 USD ($) | Feb. 28, 2019 USD ($) | |
Contingent Salary and Compensation, Retention Agreement | $ 1,500,000 | |||||||||||
Roc Global Financing Fees Arrangement [Member] | ||||||||||||
Term of Agreements (Month) | 18 months | |||||||||||
Financing Fee Arrangement, Percentage of Gross Proceeds Received | 3.25% | 3.25% | 3.25% | |||||||||
Chief Executive Officer [Member] | ||||||||||||
Contingent Salary and Compensation, Retention Agreement | $ 350,000 | $ 1,000,000 | ||||||||||
Short Term Incentive Plan, Minimum Performance Target, Payout, Percentage of Base Salary | 25% | |||||||||||
Short Term Incentive Plan, All Performance Goals, Payout, Percentage of Base Salary | 100% | |||||||||||
Short Term Incentive Plan, Maximum Performance Target, Payout, Percentage of Base Salary | 200% | |||||||||||
Short Term Incentive Plan, Payout, Percentage Cash | 50% | |||||||||||
Short Term Incentive Plan, Payout, Percentage Restricted Stock | 50% | |||||||||||
Short Term Incentive Plan, Change of Control, Percentage of Base Salary | 200% | |||||||||||
Short Term Incentive Plan, Change of Control, Maximum Period of Payment (Day) | 30 days | |||||||||||
Short-term Incentive Plan, Compensation Expense, Cash Bonus | $ 300,000 | $ 350,000 | ||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | The 2010 Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 15,000 | 23,333 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Forfeitures (in shares) | shares | 15,000 | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 18,750 | |||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |||||||||||
Chief Financial Officer [Member] | ||||||||||||
Contingent Salary and Compensation, Retention Agreement | $ 250,000 | |||||||||||
Production Threshold, One [Member] | Alaska Gold Torrent, LLC [Member] | ||||||||||||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz | 500,000 | |||||||||||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz | 30,000 | |||||||||||
Gold to Silver Ratio | 1:65 | |||||||||||
Asset Acquisition, Consideration Transferred, Contingent Consideration | $ 5,000,000 | |||||||||||
Production Threshold, One [Member] | Alaska Gold Torrent, LLC [Member] | Common Stock [Member] | ||||||||||||
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable | $ 3,750,000 | |||||||||||
Production Threshold, Two [Member] | Alaska Gold Torrent, LLC [Member] | ||||||||||||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz | 1,000,000 | |||||||||||
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz | 60,000 | |||||||||||
Gold to Silver Ratio | 1:65 | |||||||||||
Asset Acquisition, Consideration Transferred, Contingent Consideration | $ 5,000,000 | |||||||||||
Production Threshold, Two [Member] | Alaska Gold Torrent, LLC [Member] | Common Stock [Member] | ||||||||||||
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable | $ 5,000,000 | |||||||||||
Tetlin Lease [Member] | ||||||||||||
Inception-to-date Payments to Reduce Royalty Rate | $ 225,000 | $ 225,000 | $ 225,000 | |||||||||
Decrease in Royalty Rates | 0.75% | 0.75% | 0.75% | |||||||||
Tetlin Lease [Member] | Scenario 1 [Member] | ||||||||||||
Increase in Royalty Rates | 0.25% | 0.25% | 0.25% | |||||||||
Payment that Lessor May Pay to Lessee to Increase Royalty Rate | $ 150,000 | |||||||||||
Tetlin Lease [Member] | Scenario 2 [Member] | ||||||||||||
Increase in Royalty Rates | 0.50% | 0.50% | 0.50% | |||||||||
Payment that Lessor May Pay to Lessee to Increase Royalty Rate | $ 300,000 | |||||||||||
Tetlin Lease [Member] | Scenario 3 [Member] | ||||||||||||
Increase in Royalty Rates | 0.75% | 0.75% | 0.75% | |||||||||
Payment that Lessor May Pay to Lessee to Increase Royalty Rate | $ 450,000 | |||||||||||
Tetlin Lease [Member] | Minimum [Member] | ||||||||||||
Advance Royalties to Be Paid Per Year | $ 75,000 | $ 50,000 | ||||||||||
Tetlin Lease [Member] | The Joint Venture Company [Member] | ||||||||||||
Initial Term of Leases and Concessions on Undeveloped Acreage (Year) | 10 years | |||||||||||
Contractual Annual Exploration Costs | $ 350,000 | |||||||||||
Tetlin Lease [Member] | The Joint Venture Company [Member] | Minimum [Member] | ||||||||||||
Royalty Rate | 2.25% | 3% | 2.25% | 2.25% | ||||||||
Tetlin Lease [Member] | The Joint Venture Company [Member] | Maximum [Member] | ||||||||||||
Royalty Rate | 4.25% | 5% | 4.25% | 4.25% | ||||||||
Tetlin Lease and Certain Other Properties [Member] | ||||||||||||
Annual Claim Rentals | $ 355,805 | $ 355,805 | $ 355,805 | |||||||||
Tetlin Lease and Certain Other Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member] | ||||||||||||
Overriding Royalty Interest | 3% | 3% | 3% | |||||||||
Additional Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member] | ||||||||||||
Overriding Royalty Interest | 2% | 2% | 2% | |||||||||
Net Smelter Returns Silver Royalty, Percent | 28% | 28% | 28% | |||||||||
Net Smelter Returns Royalty Interest, Percent | 1% | 1% | 1% |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) Pure in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2022 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 | $ 0 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 0% | 0% | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 |
Note 16 - Debt (Details Textual
Note 16 - Debt (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Apr. 26, 2022 | Dec. 31, 2022 | Dec. 30, 2022 | Dec. 31, 2022 | Jun. 30, 2022 | |
Amortization of Debt Issuance Costs and Discounts, Total | $ 47,000 | ||||
Unsecured Convertible Debenture [Member] | |||||
Debt Instrument, Face Amount | $ 20,000,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | ||||
Debt Instrument, Interest Paid in Cash, Percentage | 6% | ||||
Debt Instrument, Interest Paid in Shares, Percentage | 2% | ||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 30.50 | ||||
Debt Instrument, Convertible, Number of Equity Instruments | 655,738 | ||||
Debt Instrument, Covenant, Redeemable, Percentage of Par | 105% | ||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130% | ||||
Debt Instrument, Redeemable, Percentage of Par For First Three Years | 130% | ||||
Debt Instrument, Redeemable, Percentage of Par after Three Years | 115% | ||||
Debt Instrument, Fee Percentage | 3% | ||||
Share Price (in dollars per share) | $ 24.82 | ||||
Stock Issued During Period, Shares, Debt Establishment Fee (in shares) | 24,174 | ||||
Investor Right Agreement, Ownership Percentage | 5% | ||||
Investor Right Agreement, Maximum Percentage of Shares Transferable without Notifying in Advance | 0.50% | ||||
Debt Instrument, Unamortized Discount (Premium), Net, Total | $ 600,000 | $ 500,000 | $ 500,000 | ||
Debt Issuance Costs, Net, Total | $ 200,000 | $ 100,000 | |||
Long-Term Debt, Total | 19,400,000 | 19,400,000 | $ 19,200,000 | ||
Interest Expense, Debt, Total | 400,000 | 900,000 | |||
Interest Expense, Debt, Excluding Amortization | 400,000 | 800,000 | |||
Amortization of Debt Issuance Costs and Discounts, Total | 96,000 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 8% | 1% | |||
Unsecured Convertible Debenture [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Debt Instrument, Fair Value Disclosure, Total | $ 20,000,000 | $ 20,000,000 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | |||
Jan. 19, 2023 | Dec. 23, 2022 | Oct. 05, 2020 | Dec. 31, 2022 | |
Rights Agreement, Exercise Price (in dollars per share) | $ 100 | |||
Private Placement [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 283,500 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 20 | |||
Rights Agreement, Exercise Price (in dollars per share) | $ 25 | $ 25 | ||
Proceeds from Issuance of Common Stock, Net | $ 5.6 | |||
Private Placement [Member] | Subsequent Event [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 117,500 | |||
Private Placement Fee, Percentage | 3.25% | |||
Proceeds from Issuance of Common Stock, Net | $ 2.3 | |||
Private Placement [Member] | Subsequent Event [Member] | January 2023 Shares [Member] | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 20 | |||
Private Placement [Member] | Subsequent Event [Member] | January 2023 Warrants [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 25 |