Paramount Gold Nevada 10-Q 5 Feb 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2013	Jan. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'PARAMOUNT GOLD & SILVER CORP.	'
Entity Central Index Key	'0001342854	'
Current Fiscal Year End Date	'--06-30	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	155,731,068
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'

Condensed_Consolidated_Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Current Assets	'	'
Cash and cash equivalents	$6,899,680	$11,524,051
Amounts receivable	1,326,277	1,207,247
Prepaid and deposits	469,915	212,197
Prepaid insurance, current portion (Note 11)	245,215	245,215
Marketable securities (Note 3)	496,152	450,000
Total Current Assets	9,437,239	13,638,710
Non-Current Assets	'	'
Mineral properties (Note 8)	51,875,798	51,875,798
Property and equipment (Note 9)	405,250	432,287
Prepaid insurance, non current portion (Note 11)	0	122,607
Reclamation bond (Note 11)	2,695,145	2,718,384
Total Non-Current Assets	54,976,193	55,149,076
Total Assets	64,413,432	68,787,786
Current Liabilities	'	'
Accounts payable and accrued liabilities	285,517	298,281
Total Current Liabilities	285,517	298,281
Non-Current Liabilities	'	'
Reclamation and environmental obligation (Note 11)	1,299,802	1,263,584
Total Liabilities	1,585,319	1,561,865
Stockholders' Equity	'	'
Capital Stock, par value $0.001 per share; authorized 200,000,000 shares, 155,731,068 issued and outstanding at December 31, 2013 and 155,731,068 shares issued and outstanding at June 30, 2013	155,732	155,732
Additional paid in capital	168,773,335	168,773,335
Contributed surplus	13,704,151	13,583,315
Deficit accumulated during the exploration stage	-119,708,738	-115,217,521
Accumulated other comprehensive income (loss)	-96,367	-68,940
Total Stockholders' Equity	62,828,113	67,225,921
Total Liabilities and Stockholders' Equity	$64,413,432	$68,787,786

Condensed_Consolidated_Interim1

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Stockholders' Equity	'	'
Capital Stock, par value (in dollars per share)	$0.00	$0.00
Capital Stock, shares authorized (in shares)	200,000,000	200,000,000
Capital Stock, shares issued (in shares)	155,731,068	155,731,068
Capital Stock, shares outstanding (in shares)	155,731,068	155,731,068

Condensed_Consolidated_Interim2

Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited) (USD $)	3 Months Ended		6 Months Ended		115 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Revenue	'	'	'	'	'
Interest income	$1,841	$16,867	$6,807	$32,645	$1,231,071
Gain on sale of mineral property	0	4,421,233	0	4,421,233	4,421,233
Other income	46,745	54,030	56,876	61,530	372,370
Total Revenue	48,586	4,492,130	63,683	4,515,408	6,024,674
Expenses:	'	'	'	'	'
Incorporation costs	0	0	0	0	1,773
Exploration	1,855,025	3,304,365	3,089,282	6,798,835	60,651,041
Professional fees	204,202	467,753	434,970	660,862	10,316,423
Directors compensation	69,970	60,972	139,946	204,602	3,392,177
Travel & lodging	75,219	52,250	117,889	105,044	1,827,158
Corporate communications	64,287	46,564	118,638	107,178	4,245,027
Consulting fees	46,705	62,151	169,282	191,744	15,283,571
Office & administration	103,361	145,143	178,230	268,944	3,776,564
Interest & service charges	16,132	2,870	18,847	6,477	151,112
Loss on disposal of property and equipment	0	0	0	0	44,669
Insurance	87,448	87,577	189,820	178,192	1,456,435
Depreciation	14,455	16,680	29,241	33,132	540,529
Accretion	30,683	41,936	61,366	83,872	502,698
Miscellaneous	0	0	0	0	203,097
Financing & listing fees	0	0	0	0	-22,024
Acquisition expenses	0	0	0	0	1,505,334
Income and other taxes	7,389	0	7,389	0	72,136
Write down of mineral property	0	0	0	0	1,856,049
Total Expenses	2,574,876	4,288,261	4,554,900	8,638,882	105,803,769
Net Loss before other items	2,526,290	-203,869	4,491,217	4,123,474	99,779,095
Other items	'	'	'	'	'
Change in fair value of equity conversion right	0	0	0	0	990,236
Other than temporary impairment of marketable securities	0	0	0	0	4,050,000
Write down of other assets	0	0	0	0	20,246
Change in fair value of warrant liability	0	-2,535,296	0	-1,003,176	14,702,429
Loss on sale of marketable securities	0	0	0	0	166,732
Net Loss	2,526,290	-2,739,165	4,491,217	3,120,298	119,708,738
Other comprehensive loss (gain)	'	'	'	'	'
Foreign currency translation adjustment	-10,875	15,057	23,629	-12,230	92,569
Unrealized loss (gain) on available-for-sale-securities	108,591	0	3,798	0	3,798
Total Comprehensive Loss (Gain) for the Period	$2,624,006	($2,724,108)	$4,518,644	$3,108,068	$119,805,105
Loss (Gain) per Common share	'	'	'	'	'
Basic (in dollars per share)	$0.02	($0.02)	$0.03	$0.02	'
Diluted (in dollars per share)	$0.02	($0.02)	$0.03	$0.02	'
Weighted Average Number of Common Shares Used in Per Share Calculations	'	'	'	'	'
Basic (in shares)	155,731,068	147,546,184	155,731,068	147,514,241	'
Diluted (in shares)	155,731,068	152,095,775	155,731,068	152,133,554	'

Condensed_Consolidated_Interim3

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended		6 Months Ended		115 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) [Abstract]	'	'	'	'	'
Net Loss	($2,526,290)	$2,739,165	($4,491,217)	($3,120,298)	($119,708,738)
Adjustment for:	'	'	'	'	'
Depreciation	14,455	16,680	29,241	33,132	540,529
Loss on disposal of assets	0	0	0	0	44,669
Stock based compensation	23,370	23,297	120,836	289,411	20,932,074
Accrued interest	'	'	0	0	-58,875
Write-down of mineral properties	0	0	0	0	1,856,049
Accretion expense	30,683	41,936	61,366	83,872	502,698
Change in reclamation	'	'	-1,909	-1,492	52,957
Insurance expense	'	'	122,607	122,608	795,270
Non cash gain on sale of mineral property	'	'	0	-4,421,233	-4,216,658
Other than temporary impairment of marketable securities	0	0	0	0	4,050,000
Change in fair value of equity conversion right	0	0	0	0	990,236
Change in fair value of warrant liability	0	-2,535,296	0	-1,003,176	14,702,429
(Increase) Decrease in accounts receivable	'	'	-119,030	233,653	-1,242,851
(Increase) Decrease in prepaid expenses	'	'	-257,718	-128,639	-469,915
Increase (Decrease) in accounts payable	'	'	-12,764	-827,111	-1,598,266
Cash used in operating activities	'	'	-4,548,588	-8,739,273	-82,828,392
Sale (purchase) of marketable securities	'	'	-49,950	0	94,740
Increase of reclamation bond	'	'	0	-29,418	-145,672
Sale (purchase) of GIC receivable	'	'	0	7,500,000	58,875
Notes receivable issued	'	'	0	0	21,365
Purchase of equity conversion right	'	'	0	0	-1,337,700
Purchase of mineral properties	'	'	0	-1,460,000	-8,669,870
Sale of mineral properties	'	'	0	-14,706	-14,706
Cash acquired on acquisition of X-Cal	'	'	0	0	843,101
Purchase of equipment	'	'	-2,204	-25,745	-990,323
Cash provided by (used in) investing activities	'	'	-52,154	5,970,131	-10,140,190
Demand notes payable issued	'	'	0	0	105,580
Issuance of capital Stock	'	'	0	52,000	99,900,199
Cash provided by financing activities	'	'	0	52,000	100,005,779
Effect of exchange rate changes on cash	'	'	-23,629	12,230	-137,517
Change in cash during period	'	'	-4,624,371	-2,704,912	6,899,680
Cash at beginning of period	'	'	11,524,051	12,500,708	0
Cash at end of period	6,899,680	9,795,796	6,899,680	9,795,796	6,899,680
Supplemental Cash Flow Disclosure	'	'	'	'	'
Cash	2,096,296	1,696,862	2,096,296	1,696,862	2,096,296
Cash Equivalents	$4,803,384	$8,098,934	$4,803,384	$8,098,934	$4,803,384

Condensed_Consolidated_Interim4

Condensed Consolidated Interim Statements of Shareholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid in Capital [Member]	Deficit Accumulated During Exploration Stage [Member]	Contributed Surplus [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at May. 31, 2004	$0	$0	$0	$0	$0	$0
Balance (in shares) at May. 31, 2004	0	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Capital issued for financing	139,933	47,476,898	0	0	0	47,616,831
Capital issued for financing (in shares)	139,933,078	'	'	'	'	'
Capital issued for services	5,342	10,160,732	0	0	0	10,166,074
Capital issued for services (in shares)	5,342,304	'	'	'	'	'
Capital issued from stock options and warrants exercised	8,736	16,611,175	'	-4,078,272	'	12,541,639
Capital issued from stock options and warrants exercised (in shares)	8,735,987	'	'	'	'	'
Capital issued for mineral properties	17,679	16,197,567	0	0	0	16,215,246
Capital issued for mineral properties (in shares)	17,678,519	'	'	'	'	'
Capital issued on settlement of notes payable	39	105,541	0	0	0	105,580
Capital issued on settlement of notes payable (in shares)	39,691	'	'	'	'	'
Returned to treasury	-61,660	61,660	0	0	0	0
Returned to treasury (in shares)	-61,660,000	'	'	'	'	'
Fair value of warrants	0	0	0	12,073,546	0	12,073,546
Stock based compensation	0	0	0	6,442,812	0	6,442,812
Transition adjustment (Note 2)	0	0	-12,637,875	-3,612,864	'	-16,250,739
Foreign currency translation	0	0	0	0	-443,675	-443,675
Net Loss	0	0	-48,549,222	0	0	-48,549,222
Balance at Jun. 30, 2010	110,069	90,613,573	-61,187,097	10,825,222	-443,675	39,918,092
Balance (in shares) at Jun. 30, 2010	110,069,579	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Capital issued for financing	19	23,970	0	0	0	23,989
Capital issued for financing (in shares)	19,395	'	'	'	'	'
Capital issued from stock options and warrants exercised	4,154	10,219,361	0	-1,053,645	0	9,169,870
Capital issued from stock options and warrants exercised (in shares)	4,153,085	'	'	'	'	'
Capital issued for acquisition	22,007	28,807,756	0	314,790	0	29,144,553
Capital issued for acquisition (in shares)	22,007,453	'	'	'	'	'
Stock based compensation	0	0	0	1,200,875	0	1,200,875
Foreign currency translation	0	0	0	0	492,405	492,405
Unrealized loss on available for sale securities	0	0	0	0	-30,945	-30,945
Net Loss	0	0	-28,450,536	0	0	-28,450,536
Balance at Jun. 30, 2011	136,249	129,664,660	-89,637,633	11,287,242	17,785	51,468,303
Balance (in shares) at Jun. 30, 2011	136,249,512	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Capital issued for financing	10,418	20,335,755	0	0	0	20,346,173
Capital issued for financing (in shares)	10,417,776	'	'	'	'	'
Capital issued from stock options and warrants exercised	346	600,873	0	-313,792	0	287,427
Capital issued from stock options and warrants exercised (in shares)	345,315	'	'	'	'	'
Capital issued for mineral properties	400	963,600	0	0	0	964,000
Capital issued for mineral properties (in shares)	400,000	'	'	'	'	'
Stock based compensation	0	0	0	1,918,724	0	1,918,724
Foreign currency translation	0	0	0	0	-113,460	-113,460
Unrealized loss on available for sale securities	0	0	0	0	30,945	30,945
Net Loss	0	0	-12,091,608	0	0	-12,091,608
Balance at Jun. 30, 2012	147,413	151,564,888	-101,729,241	12,892,174	-64,730	62,810,504
Balance (in shares) at Jun. 30, 2012	147,412,603	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Capital issued from stock options and warrants exercised	8,319	17,208,447	0	-542,974	0	16,673,792
Capital issued from stock options and warrants exercised (in shares)	8,318,465	'	'	'	'	'
Stock based compensation	0	0	0	1,234,115	0	1,234,115
Foreign currency translation	0	0	0	0	-4,210	-4,210
Net Loss	0	0	-13,488,280	0	0	-13,488,280
Balance at Jun. 30, 2013	155,732	168,773,335	-115,217,521	13,583,315	-68,940	67,225,921
Balance (in shares) at Jun. 30, 2013	155,731,068	'	'	'	'	155,731,068
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Stock based compensation	0	0	0	97,466	0	97,466
Foreign currency translation	0	0	0	0	-34,504	-34,504
Unrealized loss on available for sale securities	0	0	0	0	104,793	104,793
Net Loss	0	0	-1,964,927	0	0	-1,964,927
Balance at Sep. 30, 2013	155,732	168,773,335	-117,182,448	13,680,781	1,349	65,428,749
Balance (in shares) at Sep. 30, 2013	155,731,068	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Capital issued from stock options and warrants exercised (in shares)	'	'	'	'	'	0
Stock based compensation	0	0	0	23,370	0	23,370
Foreign currency translation	0	0	0	0	10,875	10,875
Unrealized loss on available for sale securities	0	0	0	0	-108,591	-108,591
Net Loss	0	0	-2,526,290	0	0	-2,526,290
Balance at Dec. 31, 2013	$155,732	$168,773,335	($119,708,738)	$13,704,151	($96,367)	$62,828,113
Balance (in shares) at Dec. 31, 2013	155,731,068	'	'	'	'	155,731,068

Principal_Accounting_Policies

Principal Accounting Policies	6 Months Ended
	Dec. 31, 2013
Principal Accounting Policies [Abstract]	'
Principal Accounting Policies	'
	1	Principal  Accounting Policies:
	Paramount Gold and Silver Corp. (the “Company”), incorporated under the General Corporation Law of the State of Delaware, and its wholly-owned subsidiaries are engaged in the acquisition, exploration and development of  precious metal properties. The Company’s wholly owned subsidiaries include Paramount Gold de Mexico S.A. de C.V., Magnetic Resources Ltd, Minera Gama SA de CV, and Paramount Nevada Gold Corp. (formerly X-Cal Resources Ltd.).   The Company is an exploration stage mining company in the process of exploring its mineral properties in both the United States and Mexico, and has not yet determined whether its properties contain reserves that are economically recoverable.
	Basis of Presentation and Preparation
	The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared in accordance with accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements.  In the opinion of management, all of the normal and recurring adjustments necessary to fairly present the interim financial information set forth herein have been included.  The results of operations for interim periods are not necessarily indicative of the operating results of a full year or of future years.
	These interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States and, with the exception of new accounting pronouncements described in Note 2, follow the same accounting policies and methods of their application as the most recent annual financial statements.   The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.  All significant intercompany accounts and transactions are eliminated in consolidation.  These interim financial statements should be read in conjunction with the consolidated financial statements and related footnotes included in the Annual Report on Form 10-K of Paramount Gold and Silver Corp. for the year ended June 30, 2013.
	Use of Estimates
	The preparation of these condensed consolidated interim financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Significant estimates made by management in the accompanying financial statements include collectability of amounts receivable, the adequacy of the Company’s asset retirement obligations and fair value of stock based compensation.
	Stock Based Compensation
	The Company has adopted the provisions of FASB ASC 718, “Stock Compensation” (“ASC 718”), which establishes accounting for equity instruments exchanged for employee services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).  New shares of the Company’s Common Stock will be issued for any options exercised or awards granted.
	Mineral Properties
	Mineral property acquisition costs are capitalized when incurred and will be amortized using the units –of – production method over the estimated life of the reserve following the commencement of production.  If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment.
	Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties.
	Exploration Costs
	Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred.  When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives.  To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed.
	Derivatives
	The Company accounts for its derivative instruments not indexed to our stock as either assets or liabilities and carries them at fair value.  Derivatives that are not defined as hedges must be adjusted to fair value through earnings.
	Warrants and options issued in prior periods with exercise prices denominated in Canadian dollars are no longer considered indexed to our stock, as their exercise price is not in the Company’s functional currency of the US dollar, and therefore no longer qualify for the scope exception and must be accounted for as a derivative.  These warrants and options are reclassified as liabilities under the caption “Warrant liability” and recorded at estimated fair value at each reporting date, computed using the Black-Scholes valuation method.  Changes in the liability from period to period are recorded in the Statements of Operations under the caption “Change in fair value of warrant liability.”
	The Company elected to record the change in fair value of the warrant liability as a component of other income and expense on the statement of operations as we believe the amounts recorded relate to financing activities and not as a result of our operations.
	Net Loss per Share
	Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period.  Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.
	Concentration of Credit Risk and Amounts Receivable
	Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and amounts receivable.  We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize risk of loss.
	Impuesto al Valor Agregado taxes (IVA) are recoverable value-added taxes charged by the Mexican government on goods sold and services rendered at a rate of 16%.  Under certain circumstances, these taxes are recoverable by filing a tax return and as determined by the Mexican taxing authority.  Each period, receivables are reviewed for collectability.  When a receivable is determined to not be collectable we allow for the receivable until we are either assured of collection or assured that a write-off is necessary.  Allowances in association with our receivable from IVA from our Mexico subsidiaries are based on our determination that the Mexican government may not allow the complete refund of these taxes.  The Company believes that all amounts recorded as a receivable from the Mexican government will be recovered.
	Marketable Securities
	The Company classifies its marketable securities as available-for-sale securities.  The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary.
	Foreign Currency
	The parent company’s functional currency is the United States dollar. The functional currencies of the Company’s wholly-owned subsidiaries are the U.S. Dollar and the Canadian Dollar.  Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date.   Foreign currency transaction gains and losses are included in the statement of operations and comprehensive loss. The aggregate foreign transaction loss for the six month period ended December 31, 2013 that is included in the statement of operations is $4,068.
	The financial statements of the subsidiaries are translated to United States dollars in accordance with ASC 830 using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues and expenses. Translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements Adopted	6 Months Ended
	Dec. 31, 2013
Recent Accounting Pronouncements Adopted [Abstract]	'
Recent Accounting Pronouncements Adopted	'
	2	Recent Accounting Pronouncements Adopted and New Accounting Pronouncements:
	Accounting Pronouncements Adopted During the Period
		i)	ASU 2012-04
	On July 1, 2013, the Company adopted ASU 2012-04, “Technical Corrections and Improvements”. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The adoption of ASU 2012-04 did not have a material impact on our financial position or results of operations.
		ii)	ASU 2013-02
	On July 1, 2013, the Company adopted ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income.” This updated guidance improves the reporting of significant items reclassified out of accumulated other comprehensive income and requires an entity to present, either on the face of the statement where net income is presented or in the notes, separately for each component of comprehensive income, the current period reclassifications out of accumulated other comprehensive income by the respective line items of net income affected by the reclassification. Other than requiring additional disclosures, the adoption did not have an effect on our financial position or results of operations.
	New Accounting Pronouncements Not Yet Adopted
		i)	ASU 2013-05
	In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-05, “Foreign Currency Matters (Topic 830);  Parents Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity.”  This guidance applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business (other than a sale of substance real estate or conveyance of oil and gas, mineral rights) within a foreign entity.  ASU No. 2013-05 is effective prospectively for fiscal years (and interim reporting periods with those years) beginning after December 15, 2013.  We are currently reviewing the provisions of ASU No. 2013-05 on our financial position or results of operations.
		ii)	ASU 2013-11
	In July 2013, FASB issued ASU 2013-11, “Income Taxes (Topic 740):  Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or Tax Credit Carryforward Exits.”  The FASB’s objective in issuing this ASU is to eliminate diversity in practice resulting from a lack of guidance on this topic in current U.S. GAAP.  This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date.  ASU No. 2013-11 is effective for public entities for fiscal years beginning after December 15, 2013, and interim periods within those years.  Early adoption is permitted.  The amendments should be applied to all unrecognized tax benefits that exist as of the effective date.  Entities may choose to apply the amendments retrospectively to each prior reporting period presented.  We are currently assessing the impact of the adoption of this update on our financial position or results of operations.

Marketable_Securities

Marketable Securities	6 Months Ended
	Dec. 31, 2013
Marketable Securities [Abstract]	'
Marketable Securities	'
	3	Marketable Securities:
	The following table summarizes the Company’s available-for sale securities on hand as of December 31, 2013 and June 30, 2013:
			Cost Basis		Impairment		Adjusted				Gross		Fair Value
					Charge		Cost		Gross		Unrealized
									Unrealized		Gains
									Losses
	Marketable securities at December 31, 2013		$	499,950		-		-	$	3,798		-	$	496,152
	Marketable securities at June 30, 2013		$	4,500,000	$	4,050,000	$	450,000		-		-	$	450,000
	In the three month period ended December 31, 2013, the Company recorded an unrealized loss of $108,591 (2012 – $0).  In the six month period ended December 31, 2013, the Company recorded an unrealized loss of $3,798 (2012 - $0).    The marketable securities reflected in the table above include a convertible preferred share with an attached purchase warrant of a single entity involved in the exploration of precious metals.  The Company performs a quarterly assessment on its marketable securities with unrealized losses to determine if the security is other than temporarily impaired.
	On July 30, 2013, the Company sold 6 million shares of common stock of Valor Gold Corporation for proceeds of approximately $450,000.
	On August 7, 2013, the Company purchased convertible preferred shares and stock purchase warrants of Pershing Gold Corporation, a gold exploration and development company, in the amount of $499,950.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2013
Fair Value Measurements [Abstract]	'
Fair Value Measurements	'
	4	Fair Value Measurements:
	Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization with the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:
	The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).
	The three levels of the fair value hierarchy under ASC 820 are described below:
	Level1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
	Leve2	Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	Leve3	Inputs that are both significant to the fair value measurement and unobservable.
	The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
					Fair Value at December 31, 2013						30-Jun-13
	Assets		Total		Level 1		Level 2		Level 3		Total
	Cash and cash equivalents		$	6,899,680	$	6,899,680	$	-	$	-	$	11,524,051
	Marketable Securities		$	496,152	$	-	$	-	$	496,152	$	450,000
	The Company’s cash and cash equivalents and short-term investments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash and cash equivalents that are valued based on quoted market prices in active markets are primarily comprised of commercial paper, short-term certificates of deposit and U.S. Treasury securities.
	The Company’s marketable securities include convertible preferred stock and stock purchase warrants.  The convertible preferred stock is recorded at fair market value in the financial statements based on quoted market prices of the underlying common stock security with an adjustment made using a European put option model to reflect certain restrictions from resale.  The stock purchase warrants’ fair value is recorded using a Black Scholes options model using inputs such as contractual terms, stock volatility and implied interest rates.  The Company’s marketable securities are classified within Level 3 of the fair value hierarchy.

NonCash_Transactions

Non-Cash Transactions	6 Months Ended
	Dec. 31, 2013
Non-Cash Transactions [Abstract]	'
Non-Cash Transactions	'
	5	Non-Cash Transactions:
	During the six months ended December 31, 2013 and 2012, the Company entered into certain non-cash activities as follows:
			2013		2012
	Operating and Financing Activities
	From issuance of shares for cashless exercise of options		$	-	$	34,828

Capital_Stock

Capital Stock	6 Months Ended
	Dec. 31, 2013
Capital Stock [Abstract]	'
Capital Stock	'
	6	Capital Stock:
	a)	Share issuances:
	Authorized capital stock consists of 200,000,000 common shares with par value of $0.001 per share.  At December 31, 2013 there were 155,731,068 shares issued and outstanding and 155,731,068 shares issued and outstanding at June 30, 2013.
	During the six months ended December 31, 2013 and 2012, the Company issued the following shares:
			Common Shares
			2013			2012
	For exercise of warrants and options			-			133,581
				-			133,581
	b)	Stock options:
	On August 23, 2007, the board and stockholders approved the 2007/2008 Stock Incentive & Compensation Plan thereby reserving an additional 4,000,000 common shares for issuance to employees, directors and consultants.
	On February 24, 2009, the stockholders approved the 2008/2009 Stock Incentive & Equity Compensation Plan thereby reserving an additional 3,000,000 common shares for future issuance.  The stockholders also approved the re-pricing of the exercise price of all outstanding stock options to $0.65 per share.
	On December 2, 2011, the stockholders approved the 2011/2012 Stock Incentive & Equity Compensation Plan thereby reserving an additional 4,000,000 common shares for future issuance to employees, directors and consultants.
	Stock Based Compensation
	The Company uses the Black-Scholes option valuation model to value stock options granted. The Black-Scholes model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable. The model requires management to make estimates which are subjective and may not be representative of actual results. Changes in assumptions can materially affect estimates of fair values.
	The Company did not grant options for the three month periods ending December 31, 2013 and 2012.
	Changes in the Company’s stock options for the six months ended December 31, 2013 are summarized below:
	Options		Number			Weighted Avg.		Weighted-Average		Aggregate
						Exercise Price		Remaining		Intrinsic Value
								Contractual Term
	Outstanding at June 30, 2013			3,776,500		$	2.2		2.28	$	0
	Issued			105,000			1.62		-		-
	Cancelled / Expired			(60,000	)		2.47		-		-
	Exercised			-			-		-		-
	Outstanding at December 31, 2013			3,821,500		$	2.18		1.83	$	0
	Exercisable at December 31, 2013			3,631,501		$	2.15		1.85	$	0
	At December 31, 2013, there were 3,821,500 options outstanding. Options outstanding above that have not vested at period end are 189,999 which have a maximum service term of 1- 4 years. The vesting of these options is dependent on market conditions which have yet to be met.   As of December 31, 2013, there was $115,336 (2012 - $208,832) of unrecognized compensation cost related to non-vested stock options to be recognized over a weighted average period of 1.44 years.
	A summary of the non-vested options as of June 30, 2013 and changes during the six months ended December 31, 2013 are as follows:
	Non-vested Options		Number			Weighted Avg.
						Grant-Date Fair
						Value
	Non-vested at June 30, 2013			189,999		$	2.12
	Issued			105,000			0.71
	Vested			(105,000	)		0.71
	Forfeited			-			-
	Non-vested at December 31, 2013			189,999		$	2.12
	For the three and six months ended December 31, 2013, the Company recognized a stock based compensation expense in the amount of $23,370 and $120,836 respectively (2012 - $23,297 and $289,411).

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	7	Related Party Transactions:
	During the three and six months ended December 31, 2013, directors earned fees in the amount of $54,000 and $108,000 respectively (2012 -$45,000 and $90,000) for their services as directors or members of committees of the Company’s Board.   During the three and six months ended December 31, 2013, the Company also recorded a non-cash transaction to recognize stock based compensation for directors in the amount of $15,970 and $31,946 respectively (2012 -$25,297 and $123,927)
	All transactions with related parties are made in the normal course of operations and measured at exchange value.

Mineral_Properties

Mineral Properties	6 Months Ended
	Dec. 31, 2013
Mineral Properties [Abstract]	'
Mineral Properties	'
	8	Mineral Properties:
	The Company has capitalized acquisition costs on mineral properties as follows:
			31-Dec-13		30-Jun-13
	Iris Royalty			50,000		50,000
	San Miguel Project			23,452,263		23,452,263
	Sleeper			25,891,490		25,891,490
	Mill Creek			2,096,616		2,096,616
	Spring Valley			385,429		385,429
			$	51,875,798	$	51,875,798
	San Miguel Project:
	The 100% owned San Miguel Project is located in southwestern Chihuahua, a state in Northern Mexico.  It consists of 40 mining concessions which total approximately 551 square miles. The concessions were acquired from 2005 to 2012 over a series of transactions with third parties.
	Sleeper:
	The Sleeper Gold Project was acquired through our acquisition of X-Cal Resources Ltd. in August 2010.  Sleeper is located in northern Nevada approximately 26 miles northwest of the town of Winnemucca.  When acquired in 2010, the Sleeper Gold Mine consisted of 1,044 unpatented mining claims.  In August 2011 and July 2012, the Company has staked a total of 1,526 additional unpatented lode mining claims.
	Mill Creek:
	The Mill Creek property consists of 36 unpatented lode mining claims totaling 720 acres south of Battle Mountain Nevada.
	Spring Valley:
	The Spring Valley property consists of 38 unpatented lode mining claims located in Pershing County, Nevada.

Property_and_Equipment

Property and Equipment	6 Months Ended
	Dec. 31, 2013
Property and Equipment [Abstract]	'
Property and Equipment	'
	9	Property and Equipment:
	Property and equipment consist of the following:
			31-Dec-13			30-Jun-13
	Exploration and other equipment		$	330,705		$	330,705
	Buildings and leaseholds			325,207			325,207
	Furniture and computer equipment			240,483			238,278
	Subtotal			896,394			894,190
	Accumulated  depreciation			(491,144	)		(461,903	)
	Total		$	405,250		$	432,287
	During the six months ended December 31, 2013, net additions to property, and equipment were $2,204 (2012- $25,745). During the six months ended December 31, 2013 the Company recorded depreciation of $29,241(2012-$33,132).

Segmented_Information

Segmented Information	6 Months Ended
	Dec. 31, 2013
Segmented Information [Abstract]	'
Segmented Information	'
	10	Segmented Information:
	Segmented information has been compiled based on the geographic regions in which the Company has acquired mineral properties and performs exploration activities.
	Loss for the period by geographical segment for the six months ended December 31, 2013:
			United States			Mexico		Total
	Interest income		$	6,807		$	-	$	6,807
	Other income			51,745			5,131		56,876
	Total income		$	58,552		$	5,131	$	63,683
	Expenses:
	Exploration			1,007,586			2,081,696		3,089,282
	Professional fees			434,970			-		434,970
	Directors compensation			139,946			-		139,946
	Travel and lodging			117,889			-		117,889
	Corporate communications			118,638			-		118,638
	Consulting fees			169,282			-		169,282
	Office and administration			159,570			18,660		178,230
	Interest and service charges			4,014			14,833		18,847
	Insurance			189,820			-		189,820
	Depreciation			12,842			16,399		29,241
	Accretion			61,366			-		61,366
	Income and other taxes			7,389			-		7,389
	Total Expenses			2,423,313			2,131,587		4,554,900
	Net loss		$	2,364,761		$	2,126,456	$	4,491,217
	Other comprehensive loss(gain)
	Foreign currency translation adjustment			23,629			-		23,629
	Unrealized loss (gain) on available-for-sale-securities			3,798			-		3,798
	Total Comprehensive Loss for the Period		$	2,392,188		$	2,126,456	$	4,518,644
	Loss for the period by geographical segment for the six months period ended December 31, 2012:
			United States			Mexico		Total
	Interest income		$	26,445		$	6,200	$	32,645
	Gain on sale of mineral property			4,421,233			-		4,421,233
	Other income			57,500			4,030		61,530
	Total income		$	4,505,178		$	10,230	$	4,515,408
	Expenses:
	Exploration			3,573,912			3,224,923		6,798,835
	Professional fees			660,862			-		660,862
	Directors compensation			204,602			-		204,602
	Travel and lodging			105,044			-		105,044
	Corporate communications			107,178			-		107,178
	Consulting fees			191,744			-		191,744
	Office and administration			202,726			66,218		268,944
	Interest and service charges			4,844			1,633		6,477
	Insurance			178,192			-		178,192
	Amortization			17,674			15,458		33,132
	Accretion			83,872			-		83,872
	Total Expenses			5,330,650			3,308,232		8,638,882
	Net loss (gain) before other items		$	825,472		$	3,298,002	$	4,123,474
	Other items
	Change in fair value of warrant liability			(1,003,176	)		-		(1,003,176	)
	Net Loss (Gain)		$	(177,704	)	$	3,298,002	$	3,120,298
	Other comprehensive loss (gain)
	Foreign currency translation adjustment			(12,230	)		-		(12,230	)
	Unrealized loss on available for sale investments			-			-		-
	Total Comprehensive Loss (Gain) for the Period		$	(189,934	)	$	3,298,002	$	3,108,068
	Assets by geographical segment:
			United States			Mexico		Total
	31-Dec-13
	Mineral properties		$	28,273,535		$	23,602,263	$	51,875,798
	Property and equipment		$	55,957		$	349,293	$	405,250
	30-Jun-13
	Mineral properties		$	28,273,535		$	23,602,263	$	51,875,798
	Property and equipment		$	66,595		$	365,692	$	432,287

Reclamation_and_Environmental

Reclamation and Environmental	6 Months Ended
	Dec. 31, 2013
Reclamation and Environmental [Abstract]	'
Reclamation and Environmental	'
	11	Reclamation and Environmental:
	The Company holds an insurance policy related to its Sleeper Gold Project that covers reclamation costs in the event the Company defaults on payments of its reclamation costs up to an aggregate of $25 million.  The insurance premium is being amortized over ten years and the current and non-current prepaid insurance balance at December 31, 2013 is $245,215 (2012 - $490,430).
	As a part of the policy, the Company has funds in a commutation account which is used to reimburse reclamation costs and indemnity claims.  The balance of the commutation account at December 31, 2013 is $2,695,145 (June 31, 2013 - $2,718,384).
	Reclamation and environmental costs are based principally on legal requirements.  Management estimates costs associated with reclamation of mineral properties and properties under mine closure.  On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions.
	The asset retirement obligation at the Sleeper Gold Project has been measured using the following variables:  1)Expected costs for earthwork, re-vegetation, in-pit water treatment, on-going monitoring, labor and management, 2)Inflation adjustment, and 3) Market risk premium.  The sum of the expected costs by year is discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement obligation to the time it incurs the obligation.    The reclamation and environmental obligation recorded on the balance sheet is equal to the present value of the estimated costs.
	Changes to the Company’s asset retirement obligations for the six months ended December 31, 2013 are as follows:
			31-Dec-13			30-Jun-13
	Balance at beginning of period		$	1,263,584		$	1,198,179
	Accretion expense			61,366			167,744
	Payments			(25,148	)		(102,339	)
	Balance at end of period		$	1,299,802		$	1,263,584

Principal_Accounting_Policies_

Principal Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2013
Principal Accounting Policies [Abstract]	'
Basis of Presentation and Preparation	'
	Basis of Presentation and Preparation
	The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared in accordance with accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements.  In the opinion of management, all of the normal and recurring adjustments necessary to fairly present the interim financial information set forth herein have been included.  The results of operations for interim periods are not necessarily indicative of the operating results of a full year or of future years.
	These interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States and, with the exception of new accounting pronouncements described in Note 2, follow the same accounting policies and methods of their application as the most recent annual financial statements.   The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.  All significant intercompany accounts and transactions are eliminated in consolidation.  These interim financial statements should be read in conjunction with the consolidated financial statements and related footnotes included in the Annual Report on Form 10-K of Paramount Gold and Silver Corp. for the year ended June 30, 2013.
Use of Estimates	'
	Use of Estimates
	The preparation of these condensed consolidated interim financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Significant estimates made by management in the accompanying financial statements include collectability of amounts receivable, the adequacy of the Company’s asset retirement obligations and fair value of stock based compensation.
Stock Based Compensation	'
	Stock Based Compensation
	The Company has adopted the provisions of FASB ASC 718, “Stock Compensation” (“ASC 718”), which establishes accounting for equity instruments exchanged for employee services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).  New shares of the Company’s Common Stock will be issued for any options exercised or awards granted.
Mineral Properties	'
	Mineral Properties
	Mineral property acquisition costs are capitalized when incurred and will be amortized using the units –of – production method over the estimated life of the reserve following the commencement of production.  If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment.
	Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties.
Exploration Costs	'
	Exploration Costs
	Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred.  When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives.  To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed.
Derivatives	'
	Derivatives
	The Company accounts for its derivative instruments not indexed to our stock as either assets or liabilities and carries them at fair value.  Derivatives that are not defined as hedges must be adjusted to fair value through earnings.
	Warrants and options issued in prior periods with exercise prices denominated in Canadian dollars are no longer considered indexed to our stock, as their exercise price is not in the Company’s functional currency of the US dollar, and therefore no longer qualify for the scope exception and must be accounted for as a derivative.  These warrants and options are reclassified as liabilities under the caption “Warrant liability” and recorded at estimated fair value at each reporting date, computed using the Black-Scholes valuation method.  Changes in the liability from period to period are recorded in the Statements of Operations under the caption “Change in fair value of warrant liability.”
	The Company elected to record the change in fair value of the warrant liability as a component of other income and expense on the statement of operations as we believe the amounts recorded relate to financing activities and not as a result of our operations.
Net Loss per Share	'
	Net Loss per Share
	Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period.  Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.
Concentration of Credit Risk and Amounts Receivable	'
	Concentration of Credit Risk and Amounts Receivable
	Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and amounts receivable.  We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize risk of loss.
	Impuesto al Valor Agregado taxes (IVA) are recoverable value-added taxes charged by the Mexican government on goods sold and services rendered at a rate of 16%.  Under certain circumstances, these taxes are recoverable by filing a tax return and as determined by the Mexican taxing authority.  Each period, receivables are reviewed for collectability.  When a receivable is determined to not be collectable we allow for the receivable until we are either assured of collection or assured that a write-off is necessary.  Allowances in association with our receivable from IVA from our Mexico subsidiaries are based on our determination that the Mexican government may not allow the complete refund of these taxes.  The Company believes that all amounts recorded as a receivable from the Mexican government will be recovered.
Marketable Securities	'
	Marketable Securities
	The Company classifies its marketable securities as available-for-sale securities.  The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary.
Foreign Currency	'
	Foreign Currency
	The parent company’s functional currency is the United States dollar. The functional currencies of the Company’s wholly-owned subsidiaries are the U.S. Dollar and the Canadian Dollar.  Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the consolidated balance sheet date.   Foreign currency transaction gains and losses are included in the statement of operations and comprehensive loss. The aggregate foreign transaction loss for the six month period ended December 31, 2013 that is included in the statement of operations is $4,068.
	The financial statements of the subsidiaries are translated to United States dollars in accordance with ASC 830 using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues and expenses. Translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity.

Marketable_Securities_Tables

Marketable Securities (Tables)	6 Months Ended
	Dec. 31, 2013
Marketable Securities [Abstract]	'
Available-for-sale securities	'
	The following table summarizes the Company’s available-for sale securities on hand as of December 31, 2013 and June 30, 2013:
		Cost Basis		Impairment		Adjusted				Gross		Fair Value
				Charge		Cost		Gross		Unrealized
								Unrealized		Gains
								Losses
	Marketable securities at December 31, 2013	$	499,950		-		-	$	3,798		-	$	496,152
	Marketable securities at June 30, 2013	$	4,500,000	$	4,050,000	$	450,000		-		-	$	450,000

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2013
Fair Value Measurements [Abstract]	'
Fair value of assets and liabilities	'
	The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
				Fair Value at December 31, 2013						30-Jun-13
	Assets	Total		Level 1		Level 2		Level 3		Total
	Cash and cash equivalents	$	6,899,680	$	6,899,680	$	-	$	-	$	11,524,051
	Marketable Securities	$	496,152	$	-	$	-	$	496,152	$	450,000

NonCash_Transactions_Tables

Non-Cash Transactions (Tables)	6 Months Ended
	Dec. 31, 2013
Non-Cash Transactions [Abstract]	'
Non-cash transactions	'
	During the six months ended December 31, 2013 and 2012, the Company entered into certain non-cash activities as follows:
		2013		2012
	Operating and Financing Activities
	From issuance of shares for cashless exercise of options	$	-	$	34,828

Capital_Stock_Tables

Capital Stock (Tables)	6 Months Ended
	Dec. 31, 2013
Capital Stock [Abstract]	'
Schedule of summary of common stock issued	'
	During the six months ended December 31, 2013 and 2012, the Company issued the following shares:
		Common Shares
		2013			2012
	For exercise of warrants and options		-			133,581
			-			133,581
Schedule of changes in the entity's stock options	'
	Changes in the Company’s stock options for the six months ended December 31, 2013 are summarized below:
	Options	Number			Weighted Avg.		Weighted-Average		Aggregate
					Exercise Price		Remaining		Intrinsic Value
							Contractual Term
	Outstanding at June 30, 2013		3,776,500		$	2.2		2.28	$	0
	Issued		105,000			1.62		-		-
	Cancelled / Expired		(60,000	)		2.47		-		-
	Exercised		-			-		-		-
	Outstanding at December 31, 2013		3,821,500		$	2.18		1.83	$	0
	Exercisable at December 31, 2013		3,631,501		$	2.15		1.85	$	0
Schedule of changes in the entity's non-vested stock options	'
	A summary of the non-vested options as of June 30, 2013 and changes during the six months ended December 31, 2013 are as follows:
	Non-vested Options	Number			Weighted Avg.
					Grant-Date Fair
					Value
	Non-vested at June 30, 2013		189,999		$	2.12
	Issued		105,000			0.71
	Vested		(105,000	)		0.71
	Forfeited		-			-
	Non-vested at December 31, 2013		189,999		$	2.12

Mineral_Properties_Tables

Mineral Properties (Tables)	6 Months Ended
	Dec. 31, 2013
Mineral Properties [Abstract]	'
Capitalized acquisition costs on mineral properties	'
	The Company has capitalized acquisition costs on mineral properties as follows:
		31-Dec-13		30-Jun-13
	Iris Royalty		50,000		50,000
	San Miguel Project		23,452,263		23,452,263
	Sleeper		25,891,490		25,891,490
	Mill Creek		2,096,616		2,096,616
	Spring Valley		385,429		385,429
		$	51,875,798	$	51,875,798

Property_and_Equipment_Tables

Property and Equipment (Tables)	6 Months Ended
	Dec. 31, 2013
Property and Equipment [Abstract]	'
Property and equipment, net	'
	Property and equipment consist of the following:
		31-Dec-13			30-Jun-13
	Exploration and other equipment	$	330,705		$	330,705
	Buildings and leaseholds		325,207			325,207
	Furniture and computer equipment		240,483			238,278
	Subtotal		896,394			894,190
	Accumulated  depreciation		(491,144	)		(461,903	)
	Total	$	405,250		$	432,287

Segmented_Information_Tables

Segmented Information (Tables)	6 Months Ended
	Dec. 31, 2013
Segmented Information [Abstract]	'
Revenues and long-lived assets by geographical segments	'
	Loss for the period by geographical segment for the six months ended December 31, 2013:
		United States			Mexico		Total
	Interest income	$	6,807		$	-	$	6,807
	Other income		51,745			5,131		56,876
	Total income	$	58,552		$	5,131	$	63,683
	Expenses:
	Exploration		1,007,586			2,081,696		3,089,282
	Professional fees		434,970			-		434,970
	Directors compensation		139,946			-		139,946
	Travel and lodging		117,889			-		117,889
	Corporate communications		118,638			-		118,638
	Consulting fees		169,282			-		169,282
	Office and administration		159,570			18,660		178,230
	Interest and service charges		4,014			14,833		18,847
	Insurance		189,820			-		189,820
	Depreciation		12,842			16,399		29,241
	Accretion		61,366			-		61,366
	Income and other taxes		7,389			-		7,389
	Total Expenses		2,423,313			2,131,587		4,554,900
	Net loss	$	2,364,761		$	2,126,456	$	4,491,217
	Other comprehensive loss(gain)
	Foreign currency translation adjustment		23,629			-		23,629
	Unrealized loss (gain) on available-for-sale-securities		3,798			-		3,798
	Total Comprehensive Loss for the Period	$	2,392,188		$	2,126,456	$	4,518,644
	Loss for the period by geographical segment for the six months period ended December 31, 2012:
		United States			Mexico		Total
	Interest income	$	26,445		$	6,200	$	32,645
	Gain on sale of mineral property		4,421,233			-		4,421,233
	Other income		57,500			4,030		61,530
	Total income	$	4,505,178		$	10,230	$	4,515,408
	Expenses:
	Exploration		3,573,912			3,224,923		6,798,835
	Professional fees		660,862			-		660,862
	Directors compensation		204,602			-		204,602
	Travel and lodging		105,044			-		105,044
	Corporate communications		107,178			-		107,178
	Consulting fees		191,744			-		191,744
	Office and administration		202,726			66,218		268,944
	Interest and service charges		4,844			1,633		6,477
	Insurance		178,192			-		178,192
	Amortization		17,674			15,458		33,132
	Accretion		83,872			-		83,872
	Total Expenses		5,330,650			3,308,232		8,638,882
	Net loss (gain) before other items	$	825,472		$	3,298,002	$	4,123,474
	Other items
	Change in fair value of warrant liability		(1,003,176	)		-		(1,003,176	)
	Net Loss (Gain)	$	(177,704	)	$	3,298,002	$	3,120,298
	Other comprehensive loss (gain)
	Foreign currency translation adjustment		(12,230	)		-		(12,230	)
	Unrealized loss on available for sale investments		-			-		-
	Total Comprehensive Loss (Gain) for the Period	$	(189,934	)	$	3,298,002	$	3,108,068
	Assets by geographical segment:
		United States			Mexico		Total
	31-Dec-13
	Mineral properties	$	28,273,535		$	23,602,263	$	51,875,798
	Property and equipment	$	55,957		$	349,293	$	405,250
	30-Jun-13
	Mineral properties	$	28,273,535		$	23,602,263	$	51,875,798
	Property and equipment	$	66,595		$	365,692	$	432,287

Reclamation_and_Environmental_

Reclamation and Environmental (Tables)	6 Months Ended
	Dec. 31, 2013
Reclamation and Environmental [Abstract]	'
Schedule of change in asset retirement obligation	'
	Changes to the Company’s asset retirement obligations for the six months ended December 31, 2013 are as follows:
		31-Dec-13			30-Jun-13
	Balance at beginning of period	$	1,263,584		$	1,198,179
	Accretion expense		61,366			167,744
	Payments		(25,148	)		(102,339	)
	Balance at end of period	$	1,299,802		$	1,263,584

Principal_Accounting_Policies_1

Principal Accounting Policies (Details) (USD $)	6 Months Ended
	Dec. 31, 2013
Principal Accounting Policies [Abstract]	'
Value added tax rate assessed by foreign authority (in hundredths)	16.00%
Foreign currency transaction loss	$4,068

Marketable_Securities_Details

Marketable Securities (Details) (USD $)	3 Months Ended		6 Months Ended		115 Months Ended		0 Months Ended		6 Months Ended	12 Months Ended
Share data in Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Jun. 30, 2013	Aug. 07, 2013	Jul. 30, 2013	Dec. 31, 2013	Jun. 30, 2013
							Issuance of Equity [Member]	Issuance of Equity [Member]	Marketable Securities [Member]	Marketable Securities [Member]
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'	'	'	'	'	'
Available-for-sale Securities, Cost	'	'	'	'	'	'	'	'	$499,950	$4,500,000
Available-for-sale Securities, Impairment charge	0	0	0	0	4,050,000	'	'	'	0	4,050,000
Available-for-sale Securities, Adjusted Cost	496,152	'	496,152	'	496,152	450,000	'	'	0	450,000
Available-for-sale Securities, Gross Unrealized Losses	'	'	'	'	'	'	'	'	3,798	0
Available-for-sale Securities, Gross Realized Gains	'	'	'	'	'	'	'	'	0	0
Available-for-sale Securities, Fair Value	496,152	'	496,152	'	496,152	450,000	'	'	496,152	450,000
Unrealized gain (loss)	-108,591	0	-3,798	0	'	'	'	'	'	'
Shares of common stock of Valor Gold Corporation sold (in shares)	'	'	'	'	'	'	'	6	'	'
Proceeds from shares of common stock of Valor Gold Corporation sold	'	'	'	'	'	'	'	450,000	'	'
Convertible preferred shares of a gold exploration and development company purchased	'	'	$0	$0	$1,337,700	'	$499,950	'	'	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Assets	'	'
Cash and cash equivalents	$6,899,680	$11,524,051
Marketable Securities	496,152	450,000
Level 1 [Member]	'	'
Assets	'	'
Cash and cash equivalents	6,899,680	'
Marketable Securities	0	'
Level 2 [Member]	'	'
Assets	'	'
Cash and cash equivalents	0	'
Marketable Securities	0	'
Level 3 [Member]	'	'
Assets	'	'
Cash and cash equivalents	0	'
Marketable Securities	$496,152	'

NonCash_Transactions_Details

Non-Cash Transactions (Details) (USD $)	6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Operating and Financing Activities [Abstract]	'	'
From issuance of shares for cashless exercise of options	$0	$34,828

Capital_Stock_Details

Capital Stock (Details) (USD $)

3 Months Ended

6 Months Ended

115 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

6 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2013

Dec. 02, 2011

Feb. 24, 2009

Aug. 23, 2007

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Stock Options [Member]

Stock Options [Member]

Stock Options [Member]

Stock Options [Member]

Stock Options [Member]

Non-vested stock options [Member]

Non-vested stock options [Member]

Non-vested stock options [Member]

Non-vested stock options [Member]

Minimum [Member]

Maximum [Member]

Capital Stock [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Authorized capital stock (in shares)

200,000,000

'

200,000,000

'

200,000,000

200,000,000

'

'

'

'

'

'

'

'

'

Common shares, par value (in dollars per share)

$0.00

'

$0.00

'

$0.00

$0.00

'

'

'

'

'

'

'

'

'

Common stock issued (in shares)

155,731,068

'

155,731,068

'

155,731,068

155,731,068

'

'

'

'

'

'

'

'

'

Common shares outstanding (in shares)

155,731,068

'

155,731,068

'

155,731,068

155,731,068

'

'

'

'

'

'

'

'

'

Summary of common stock issued [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

For exercise of warrants and options (in shares)

0

133,581

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued (in shares)

0

133,581

0

133,581

0

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of additional common share for issuance (in shares)

'

'

'

'

'

'

'

'

4,000,000

3,000,000

4,000,000

'

'

'

'

Repriced exercise price (in dollars per share)

'

'

'

'

'

'

'

'

'

$0.65

'

'

'

'

'

Number of shares [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance (in shares)

'

'

'

'

'

'

3,776,500

'

'

'

'

'

'

'

'

Issued (in shares)

'

'

'

'

'

'

105,000

'

'

'

'

'

'

'

'

Cancelled / Expired (in shares)

'

'

'

'

'

'

-60,000

'

'

'

'

'

'

'

'

Exercised (in shares)

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

Ending balance (in shares)

'

'

'

'

'

'

3,821,500

3,776,500

'

'

'

'

'

'

'

Exercisable (in shares)

'

'

'

'

'

'

3,631,501

'

'

'

'

'

'

'

'

Weighted Avg. Exercise Price [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance (in dollars per share)

'

'

'

'

'

'

$2.20

'

'

'

'

'

'

'

'

Issued (in dollars per share)

'

'

'

'

'

'

$1.62

'

'

'

'

'

'

'

'

Cancelled / Expired (in dollars per share)

'

'

'

'

'

'

$2.47

'

'

'

'

'

'

'

'

Exercised (in dollars per share)

'

'

'

'

'

'

$0

'

'

'

'

'

'

'

'

Ending balance (in dollars per share)

'

'

'

'

'

'

$2.18

$2.20

'

'

'

'

'

'

'

Exercisable (in dollars per share)

'

'

'

'

'

'

$2.15

'

'

'

'

'

'

'

'

Weighted-Average Remaining Contractual Term [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance

'

'

'

'

'

'

'1 year 9 months 29 days

'2 years 3 months 11 days

'

'

'

'

'

'

'

Ending balance

'

'

'

'

'

'

'1 year 9 months 29 days

'2 years 3 months 11 days

'

'

'

'

'

'

'

Exercisable

'

'

'

'

'

'

'1 year 10 months 6 days

'

'

'

'

'

'

'

'

Aggregate Intrinsic Value [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Beginning balance

'

'

'

'

'

'

$0

'

'

'

'

'

'

'

'

Ending balance

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

Exercisable

'

'

'

'

'

'

0

'

'

'

'

'

'

'

'

Number of non vested options outstanding (in shares)

'

'

'

'

'

'

'

'

'

'

'

189,999

'

'

'

Service term

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'4 years

Unrecognized compensation costs related to non-vested stock options

'

'

'

'

'

'

'

'

'

'

'

115,336

208,832

'

'

Recognition of unrecognized compensation costs related to non-vested stock options

'

'

'

'

'

'

'

'

'

'

'

'1 year 5 months 8 days

'

'

'

Non-vested - Number of shares [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-vested, beginning (in shares)

'

'

'

'

'

'

'

'

'

'

'

189,999

'

'

'

Issued (in shares)

'

'

'

'

'

'

'

'

'

'

'

105,000

'

'

'

Vested (in shares)

'

'

'

'

'

'

'

'

'

'

'

-105,000

'

'

'

Forfeited (in shares)

'

'

'

'

'

'

'

'

'

'

'

0

'

'

'

Non-vested, ending (in shares)

'

'

'

'

'

'

'

'

'

'

'

189,999

'

'

'

Weighted Average Grant-Date Fair Value [Roll Forward]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-vested, beginning (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$2.12

'

'

'

Issued (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$0.71

'

'

'

Vested (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$0.71

'

'

'

Forfeited (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$0

'

'

'

Non-vested, ending (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

$2.12

'

'

'

Recognized stock-based Compensation expenses

$23,370

$23,297

$120,836

$289,411

$20,932,074

'

'

'

'

'

'

'

'

'

'

Related_Party_Transactions_Det

Related Party Transactions (Details) (Director [Member], USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Director [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Payment made to director for services	$54,000	$45,000	$108,000	$90,000
Non-cash transaction to recognize stock based compensation for directors	$15,970	$25,297	$31,946	$123,927

Mineral_Properties_Details

Mineral Properties (Details) (USD $)	6 Months Ended
	Dec. 31, 2013	Jun. 30, 2013
	MiningConcession
	sqmi
Mineral properties, net [Abstract]	'	'
Mineral properties, net	$51,875,798	$51,875,798
Iris Royalty [Member]	'	'
Mineral properties, net [Abstract]	'	'
Mineral properties, net	50,000	50,000
San Miguel Project [Member]	'	'
Mineral properties, net [Abstract]	'	'
Mineral properties, net	23,452,263	23,452,263
Percentage of ownership in Project (in hundredths)	100.00%	'
Number of mining concessions acquired	40	'
Area of concession coverage	551	'
Sleeper [Member]	'	'
Mineral properties, net [Abstract]	'	'
Mineral properties, net	25,891,490	25,891,490
Number of unpatented mining claims	1,044	'
Number of additional unpatented lode mining claims	1,526	'
Mill Creek [Member]	'	'
Mineral properties, net [Abstract]	'	'
Mineral properties, net	2,096,616	2,096,616
Number of unpatented mining claims	36	'
Unpatented lode mining claims area	720	'
Spring Valley [Member]	'	'
Mineral properties, net [Abstract]	'	'
Mineral properties, net	$385,429	$385,429
Number of unpatented mining claims	38	'

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	3 Months Ended		6 Months Ended		115 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Jun. 30, 2013
Property and equipment, net [Abstract]	'	'	'	'	'	'
Property and Equipment, at Cost	$896,394	'	$896,394	'	$896,394	$894,190
Accumulated depreciation	-491,144	'	-491,144	'	-491,144	-461,903
Total	405,250	'	405,250	'	405,250	432,287
Additions to property, plant and equipment	'	'	2,204	25,745	'	'
Amortization	14,455	16,680	29,241	33,132	540,529	'
Exploration and Other Equipment [Member]	'	'	'	'	'	'
Property and equipment, net [Abstract]	'	'	'	'	'	'
Property and Equipment, at Cost	330,705	'	330,705	'	330,705	330,705
Building and Leaseholds [Member]	'	'	'	'	'	'
Property and equipment, net [Abstract]	'	'	'	'	'	'
Property and Equipment, at Cost	325,207	'	325,207	'	325,207	325,207
Furniture and Computer Equipment [Member]	'	'	'	'	'	'
Property and equipment, net [Abstract]	'	'	'	'	'	'
Property and Equipment, at Cost	$240,483	'	$240,483	'	$240,483	$238,278

Segmented_Information_Details

Segmented Information (Details) (USD $)	3 Months Ended			6 Months Ended		12 Months Ended			73 Months Ended	115 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Dec. 31, 2013
Segment reporting information by segment [Abstract]	'	'	'	'	'	'	'	'	'	'
Interest income	$1,841	'	$16,867	$6,807	$32,645	'	'	'	'	$1,231,071
Gain on sale of mineral property	'	'	'	'	4,421,233	'	'	'	'	'
Other income	46,745	'	54,030	56,876	61,530	'	'	'	'	372,370
Total Revenue	48,586	'	4,492,130	63,683	4,515,408	'	'	'	'	6,024,674
Expenses [Abstract]	'	'	'	'	'	'	'	'	'	'
Exploration	1,855,025	'	3,304,365	3,089,282	6,798,835	'	'	'	'	60,651,041
Professional fees	204,202	'	467,753	434,970	660,862	'	'	'	'	10,316,423
Directors compensation	69,970	'	60,972	139,946	204,602	'	'	'	'	3,392,177
Travel and lodging	75,219	'	52,250	117,889	105,044	'	'	'	'	1,827,158
Corporate communications	64,287	'	46,564	118,638	107,178	'	'	'	'	4,245,027
Consulting fees	46,705	'	62,151	169,282	191,744	'	'	'	'	15,283,571
Office and administration	103,361	'	145,143	178,230	268,944	'	'	'	'	3,776,564
Interest and service charges	'	'	'	18,847	6,477	'	'	'	'	'
Insurance	87,448	'	87,577	189,820	178,192	'	'	'	'	1,456,435
Depreciation	14,455	'	16,680	29,241	33,132	'	'	'	'	540,529
Accretion	30,683	'	41,936	61,366	83,872	'	'	'	'	502,698
Income and other taxes	7,389	'	0	7,389	0	'	'	'	'	72,136
Total Expenses	2,574,876	'	4,288,261	4,554,900	8,638,882	'	'	'	'	105,803,769
Net Loss before other items	2,526,290	'	-203,869	4,491,217	4,123,474	'	'	'	'	99,779,095
Other items [Abstract]	'	'	'	'	'	'	'	'	'	'
Change in fair value of warrant liability	0	'	-2,535,296	0	-1,003,176	'	'	'	'	14,702,429
Net Loss	2,526,290	1,964,927	-2,739,165	4,491,217	3,120,298	13,488,280	12,091,608	28,450,536	48,549,222	119,708,738
Other comprehensive loss (gain) [Abstract]	'	'	'	'	'	'	'	'	'	'
Foreign currency translation adjustment	-10,875	34,504	15,057	23,629	-12,230	4,210	113,460	-492,405	443,675	92,569
Unrealized loss (gain) on available-for-sale-securities	108,591	-104,793	0	3,798	0	'	-30,945	30,945	'	3,798
Total Comprehensive Loss (Gain) for the Period	2,624,006	'	-2,724,108	4,518,644	3,108,068	'	'	'	'	119,805,105
Mineral properties	51,875,798	'	'	51,875,798	'	51,875,798	'	'	'	51,875,798
Property and Equipment	405,250	'	'	405,250	'	432,287	'	'	'	405,250
United States [Member]	'	'	'	'	'	'	'	'	'	'
Segment reporting information by segment [Abstract]	'	'	'	'	'	'	'	'	'	'
Interest income	'	'	'	6,807	26,445	'	'	'	'	'
Gain on sale of mineral property	'	'	'	'	4,421,233	'	'	'	'	'
Other income	'	'	'	51,745	57,500	'	'	'	'	'
Total Revenue	'	'	'	58,552	4,505,178	'	'	'	'	'
Expenses [Abstract]	'	'	'	'	'	'	'	'	'	'
Exploration	'	'	'	1,007,586	3,573,912	'	'	'	'	'
Professional fees	'	'	'	434,970	660,862	'	'	'	'	'
Directors compensation	'	'	'	139,946	204,602	'	'	'	'	'
Travel and lodging	'	'	'	117,889	105,044	'	'	'	'	'
Corporate communications	'	'	'	118,638	107,178	'	'	'	'	'
Consulting fees	'	'	'	169,282	191,744	'	'	'	'	'
Office and administration	'	'	'	159,570	202,726	'	'	'	'	'
Interest and service charges	'	'	'	4,014	4,844	'	'	'	'	'
Insurance	'	'	'	189,820	178,192	'	'	'	'	'
Depreciation	'	'	'	12,842	17,674	'	'	'	'	'
Accretion	'	'	'	61,366	83,872	'	'	'	'	'
Income and other taxes	'	'	'	7,389	'	'	'	'	'	'
Total Expenses	'	'	'	2,423,313	5,330,650	'	'	'	'	'
Net Loss before other items	'	'	'	'	825,472	'	'	'	'	'
Other items [Abstract]	'	'	'	'	'	'	'	'	'	'
Change in fair value of warrant liability	'	'	'	'	-1,003,176	'	'	'	'	'
Net Loss	'	'	'	2,364,761	-177,704	'	'	'	'	'
Other comprehensive loss (gain) [Abstract]	'	'	'	'	'	'	'	'	'	'
Foreign currency translation adjustment	'	'	'	23,629	-12,230	'	'	'	'	'
Unrealized loss (gain) on available-for-sale-securities	'	'	'	3,798	0	'	'	'	'	'
Total Comprehensive Loss (Gain) for the Period	'	'	'	2,392,188	-189,934	'	'	'	'	'
Mineral properties	28,273,535	'	'	28,273,535	'	28,273,535	'	'	'	28,273,535
Property and Equipment	55,957	'	'	55,957	'	66,595	'	'	'	55,957
Mexico [Member]	'	'	'	'	'	'	'	'	'	'
Segment reporting information by segment [Abstract]	'	'	'	'	'	'	'	'	'	'
Interest income	'	'	'	0	6,200	'	'	'	'	'
Gain on sale of mineral property	'	'	'	'	0	'	'	'	'	'
Other income	'	'	'	5,131	4,030	'	'	'	'	'
Total Revenue	'	'	'	5,131	10,230	'	'	'	'	'
Expenses [Abstract]	'	'	'	'	'	'	'	'	'	'
Exploration	'	'	'	2,081,696	3,224,923	'	'	'	'	'
Professional fees	'	'	'	0	0	'	'	'	'	'
Directors compensation	'	'	'	0	0	'	'	'	'	'
Travel and lodging	'	'	'	0	0	'	'	'	'	'
Corporate communications	'	'	'	0	0	'	'	'	'	'
Consulting fees	'	'	'	0	0	'	'	'	'	'
Office and administration	'	'	'	18,660	66,218	'	'	'	'	'
Interest and service charges	'	'	'	14,833	1,633	'	'	'	'	'
Insurance	'	'	'	0	0	'	'	'	'	'
Depreciation	'	'	'	16,399	15,458	'	'	'	'	'
Accretion	'	'	'	0	0	'	'	'	'	'
Income and other taxes	'	'	'	0	'	'	'	'	'	'
Total Expenses	'	'	'	2,131,587	3,308,232	'	'	'	'	'
Net Loss before other items	'	'	'	'	3,298,002	'	'	'	'	'
Other items [Abstract]	'	'	'	'	'	'	'	'	'	'
Change in fair value of warrant liability	'	'	'	'	0	'	'	'	'	'
Net Loss	'	'	'	2,126,456	3,298,002	'	'	'	'	'
Other comprehensive loss (gain) [Abstract]	'	'	'	'	'	'	'	'	'	'
Foreign currency translation adjustment	'	'	'	0	0	'	'	'	'	'
Unrealized loss (gain) on available-for-sale-securities	'	'	'	0	0	'	'	'	'	'
Total Comprehensive Loss (Gain) for the Period	'	'	'	2,126,456	3,298,002	'	'	'	'	'
Mineral properties	23,602,263	'	'	23,602,263	'	23,602,263	'	'	'	23,602,263
Property and Equipment	$349,293	'	'	$349,293	'	$365,692	'	'	'	$349,293

Reclamation_and_Environmental_1

Reclamation and Environmental (Details) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Reclamation and Environmental [Abstract]	'	'	'
Reclamation cost	$25,000,000	'	'
Amortization period of insurance premium	'10 years	'	'
Prepaid insurance	245,215	'	490,430
Commutation account balance	2,695,145	2,718,384	'
Changes to the entity's asset retirement obligations [Roll Forward]	'	'	'
Balance, beginning of period	1,263,584	1,198,179	'
Accretion expense	61,366	167,744	'
Payments	-25,148	-102,339	'
Balance at end of period	$1,299,802	$1,263,584	'