Contango Ore (CTGO) 10-Q 31 Jan 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2017	Jan. 30, 2018
Document Information [Line Items]
Entity Registrant Name	Contango ORE, Inc.
Entity Central Index Key	1,502,377
Trading Symbol	ctgo
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		5,975,048
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2017	Jun. 30, 2017
CURRENT ASSETS:
Cash	$ 15,821,738	$ 5,191,749
Prepaid expenses and other	125,560	175,791
Total current assets	15,947,298	5,367,540
OTHER ASSETS:
Investment in Peak Gold, LLC (Note 4)
Total other assets
TOTAL ASSETS	15,947,298	5,367,540
CURRENT LIABILITIES:
Accounts payable	13,116	50,858
Accrued liabilities	117,808	86,561
Total current liabilities	130,924	137,419
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS’ EQUITY:
Common Stock, $0.01 par value, 30,000,000 shares authorized; 5,975,048 shares issued and outstanding at December 31, 2017; 4,930,231 shares issued and 4,921,163 outstanding at June 30, 2017	59,751	49,303
Additional paid-in capital	52,345,624	40,500,239
Treasury shares at cost (0 shares at December 31, 2017 and 9,068 at June 30, 2017)		(207,400)
Accumulated deficit	(36,589,001)	(35,112,021)
SHAREHOLDERS’ EQUITY	15,816,374	5,230,121
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 15,947,298	$ 5,367,540

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2017	Jun. 30, 2017
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	5,975,048	4,930,231
Common stock, shares outstanding (in shares)	5,975,048	4,921,163
Treasury stock, at cost, shares (in shares)	0	9,068

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
EXPENSES:
General and administrative expense	$ 808,344	$ 592,142	$ 1,476,980	$ 1,547,792
Total expenses	808,344	592,142	1,476,980	1,547,792
OTHER EXPENSE
Loss from equity investment in Peak Gold, LLC (Note 4)
NET LOSS	$ (808,344)	$ (592,142)	$ (1,476,980)	$ (1,547,792)
LOSS PER SHARE
Basic and diluted (in dollars per share)	$ (0.14)	$ (0.13)	$ (0.28)	$ (0.36)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	5,650,321	4,640,034	5,289,934	4,315,444

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,476,980)	$ (1,547,792)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	998,117	959,650
Changes in operating assets and liabilities:
Decrease/(increase) in prepaid expenses and other	50,231	(61,917)
Increase/(decrease) in accounts payable and accrued liabilities	(6,495)	71,681
Net cash used in operating activities	(435,127)	(578,378)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash paid for shares withheld from employees for payroll tax withholding		(171,158)
Cash from warrant exercises and capital raise, net	11,065,116	5,287,500
Net cash provided by financing activities	11,065,116	5,116,342
NET (DECREASE) IN CASH AND CASH EQUIVALENTS	10,629,989	4,537,964
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	5,191,749	1,254,489
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 15,821,738	$ 5,792,453

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 6 months ended Dec. 31, 2017 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Deficit, Exploration Stage [Member]	Total
Balance (in shares) at Jun. 30, 2017	4,930,231
Balance at Jun. 30, 2017	$ 49,303	$ 40,500,239	$ (207,400)	$ (35,112,021)	$ 5,230,121
Stock-based compensation		998,117			998,117
Restricted shares activity (in shares)	155,000
Restricted shares activity	$ 1,550	(1,550)
Treasury stock activity (in shares)	(9,068)
Treasury stock activity	$ (91)	(207,309)	207,400
Issuance of common stock (in shares)	553,672
Issuance of common stock	$ 5,537	10,514,231			10,519,768
Cost of common stock issuance		(642,143)			(642,143)
Stock option exercises (in shares)	93,026
Stock option exercises	$ 930	(930)
Stock warrant exercises (in shares)	252,187
Stock warrant exercises	$ 2,522	1,184,969			1,187,491
Net loss for the period				(1,476,980)	(1,476,980)
Balance (in shares) at Dec. 31, 2017	5,975,048
Balance at Dec. 31, 2017	$ 59,751	$ 52,345,624		$ (36,589,001)	$ 15,816,374

Note 1 - Organization and Busin

Note 1 - Organization and Business	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Contango ORE, Inc. (“ CORE” or the “Company”) is a Houston-based company that engages in the exploration in Alaska for gold and associated minerals through a joint venture company, Peak Gold, LLC (the "Joint Venture Company"). The Company was formed on September 1, 2010 two January 2015. . On November 29, 2010, $3.5 1.6 805, . The Company is still in an exploration stage. The Company’s fiscal year end is June 30 . The properties contributed by Contango included: (i) a 100% 675,000 Tetlin Lease”) from the Tetlin Village Council, the council formed by the governing body for the Native Village of Tetlin, an Alaska Native Tribe (the "Tetlin Village Council"); (ii) approximately 18,021 3.0% September 29, 2014, 3.0% 9 . In September 2012, 474 71,896 2.0% July 1, 2012. 2.0% September 29, 2014, 2.0% 9 . On September 29, 2014, January 8, 2015 ( . In connection with the Closing, the Company contributed its Tetlin Lease and state of Alaska mining claims near Tok, Alaska (the "Peak Gold Joint Venture Property"), together with other property, to the Joint Venture Company, a newly formed limited liability company (the “Joint Venture Company”). The Joint Venture Company is managed according to a Limited Liability Company Agreement (the "JV LLCA") between subsidiaries of Royal Gold and the Company. At the Closing, Royal Gold made an initial investment of $5 $5 not 40% $30 $5 October 2018. December 31, 2017, $29.3 39.0% . The Company has completed eight two 2017, three December 31, 2017, 2017 West Peak, West Peak Extension, 7 On November 10, 2017, No. 1 541 84,840 In return for locating the New Properties and incurring all related expenses, the Joint Venture Company granted to a 3.0% October 31, 2018, October 31, 2018, 40% October 31, 2018 ( 3.0%

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	2. The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including instructions to Form 10 8 X. not ’s Form 10 June 30, 2017. three six December 31, 2017 not may June 30, 2018.

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. The Company ’s significant accounting policies are described below . Management Estimates. The preparation of consolidated financial statements in conformity with GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates . Cash Equivalents. Cash equivalents are considered to be highly liquid securities having an original maturity of 90 . Stock-Based Compensation . The Company applies the fair value method of accounting for stock-based compensation. Under this method, compensation cost is measured at the grant date based on the fair value of the award and is recognized over the award vesting period. The Company classifies the benefits of tax deductions in excess of the compensation cost recognized for the options (excess tax benefit) as financing cash flows. The fair value of each option award is estimated as of the date of grant using the Black-Scholes option-pricing model. The fair value of each restricted stock award is equal to the Company's stock price on the date the award is granted . Income Taxes. The Company follows the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements and (ii) operating loss and tax credit carry-forwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when, based upon management’s estimates, it is more likely than not not December 31, 2017 June 30, 2017 not not December 31, 2017 June 30, 2017. December 22, 2017, 35.0% 21.0%, The Company has assessed the impact of the tax bill on the financial statements as of December 31, 2017. not Investment in the Joint Venture Company. The Company’s consolidated financial statements include the investment in the Joint Venture Company which is accounted for under the equity method. The Company has designated one three 31 2017 61.0% December 31, 2017 June 30, 2017 . Recently Adopted Accounting Pronouncements. In August 2014, No. 2014 15, one December 15, 2016, . In March 2016, FASB issued ASU No. 2016 09: 718 2016 09 2016 09 2016 09 2016 09 December 15, 2016, not . Recently Issued Accounting Pronouncements. August 2016, issued Accounting Standards Update ("ASU") No. 2016 15: 230 230, eight eight 1 2 zero 3 4 5 6 7 8 December 15, 2017, may . The Company has evaluated all other recent acco unting pronouncements and believes that none .

Note 4 - Investment in Peak Gol

Note 4 - Investment in Peak Gold, LLC	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	4 . Investment in the Joint Venture Company The Company recorded its investment at the historical book value of the assets contributed to the Joint Venture Company which was approximately $1.4 December 31, 2017, $29.3 39.0%. $29.3 $2.1 December 31, 2017. December 31, 2017, 61.0% June 30, 2017, 70.5% The following table is a roll-forward of our investment in the Joint Venture Company from January 8, 2015 ( December 31, 2017: Investment in Peak Gold, LLC Investment balance at June 30, 2014 $ — Investment in Peak Gold, LLC, at inception January 8, 2015 1,433,886 Loss from equity investment in Peak Gold, LLC (1,433,886 ) Investment balance at June 30, 2015 $ — Investment in Peak Gold, LLC — Loss from equity investment in Peak Gold, LLC — Investment balance at June 30, 2016 $ — Investment in Peak Gold, LLC — Loss from equity investment in Peak Gold, LLC — Investment balance at June 30, 2017 $ — Loss from equity investment in Peak Gold, LLC — Investment in Peak Gold, LLC — Investment balance at December 31, 2017 $ — The following table presents the condensed balance sheet for the Joint Venture Company as of December 31, 2017 June 30, 2017: December 31, 2017 June 30, 2017 ASSETS Cash and cash equivalents $ 92,640 $ 58,955 Mineral properties 1,433,886 1,433,886 TOTAL ASSETS $ 1,526,526 $ 1,492,841 LIABILITIES AND MEMBERS' EQUITY Accounts payable and other liabilities $ 274,213 $ 1,754,009 TOTAL LIABILITIES 274,213 1,754,009 MEMBERS' (DEFICIT) EQUITY 1,252,313 (261,168 ) TOTAL LIABILITIES AND MEMBERS' EQUITY $ 1,526,526 $ 1,492,841 The Company's share of the Joint Venture Company's results of operations for the three six December 31, 2017 $0.9 $3.0 three six December 31, 2016 $2.1 million and $5.0 The Joint Venture Company loss does not December 31, 2017 June 30, 2017, $24.2 $21.2 $1.4 zero December 31, 2017 June 30, 2017. not $1.4 December 31, 2017 $22.8 three six December 31, 2017 2016: Three Months Ended Three Months Ended Six Months Ended Six Months Ended Period from Inception January 8, 2015 to December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 December 31, 2017 EXPENSES: Exploration expense $ 1,186,445 $ 2,203,430 $ 4,094,520 $ 5,233,030 $ 24,886,695 General and administrative 236,723 395,852 691,999 818,945 4,594,878 Total expenses 1,423,168 2,599,282 4,786,519 6,051,975 29,481,573 NET LOSS $ 1,423,168 $ 2,599,282 $ 4,786,519 $ 6,051,975 $ 29,481,573

Note 5 - Prepaid Expenses and O

Note 5 - Prepaid Expenses and Other	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Prepaid Expenses [Text Block]	5. The Company has prepaid expenses of $125,560 $175,791 December 31 , 2017 June 30, 2017,

Note 6 - Loss Per Share

Note 6 - Loss Per Share	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	6. A reconciliation of the components of basic and diluted net loss per share of common stock is presented below: Three Months Ended December 31, 2017 2016 Loss Weighted Average Shares Loss Per Share Loss Weighted Average Shares Loss Per Share Basic Loss per Share: Net loss attributable to common stock $ (808,344 ) 5,650,321 $ (0.14 ) $ (592,142 ) 4,640,034 $ (0.13 ) Diluted Loss per Share: Net loss attributable to common stock $ (808,344 ) 5,650,321 $ (0.14 ) $ (592,142 ) 4,640,034 $ (0.13 ) Six Months Ended December 31, 2017 2016 Loss Weighted Average Shares Loss Per Share Loss Weighted Average Shares Loss Per Share Basic Loss per Share: Net loss attributable to common stock $ (1,476,980 ) 5,289,934 $ (0.28 ) $ (1,547,792 ) 4,315,444 $ (0.36 ) Diluted Loss per Share: Net loss attributable to common stock $ (1,476,980 ) 5,289,934 $ (0.28 ) $ (1,547,792 ) 4,315,444 $ (0.36 ) Options and warrants to purchase 271,000 845,999 December 31, 2017 June 30, 2017, not three six December 31, 2017 2016

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	7. ’ Equity The Company ’s authorized capital stock consists of 30,000,000 15,000,000 December 31, 2017, 5,975,048 298,998 271,000 December 31, 2017. No August 2018 January 2020. In September 2016, $0.01 The offering applied to warrant holders with an exercise price of $10.00 March 2013. $9.00 November 15, 2016. 587,500 $5.3 83,334 On October 13, 2017, $0.01 $10.00 March 2013. $9.50 November 10, 2017. 124,999 $1.2 In connection with the exercise offer, the Company entered into a Registration Rights Agreement dated as of November 10, 2017, two ith the SEC at any time after expiration of the offer but before three On October 23, 2017, 553,672 $0.01 $19.00 ck, in a private placement (the "Private Placement") to certain purchasers (the "Purchasers") pursuant to a Stock Purchase Agreement dated as of October 23, 2017 ( $10.5 $10.0 6.50%, 3.25% $0.5 ’s President and Chief Executive Officer, purchased 13,200 $250,800, The shares sold in the Private Placement were issued in reliance on an exemption from registration under the Securities Act of 1933, suant to Section 4 2 not Pursuant to a Registration Rights Agreement dated as of October 23, 2017 ( two ge Commission at any time after one three Rights Plan On Decembe r 19, 2012, March 21, 2013, September 29, 2014, December 18, 2014, November 11, 2015. 1/100 $80 23% one December 20, 2012. not December 20, 2012. December 19, 2018.

Note 8 - Formation of Joint Ven

Note 8 - Formation of Joint Venture Company	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Formation of Joint Venture Company [Text Block]	8. On January 8, 2015, ’s Peak Gold Joint Venture Properties, for gold ore and associated minerals prospects. In connection with the Closing of the Transactions, the Company formed the Joint Venture Company. The Company contributed to the Joint Venture Company its Peak Gold Joint Venture properties near Tok, Alaska, together with other property (the “Contributed Assets”) with a historical book value of $1.4 $45.7 Royal Gold serves as manager of the Joint Venture Company ("the Manager") and will initially manage, direct, and control the operations of the Joint Venture Company. As a condition to the Closing, the Company and the Tetlin Village Council entered into a Stability Agreement dated October 2, 2014, At Closing, Royal Gold, as an initial contribution to the Joint Venture Company, contributed $5 not ’s percentage interest in the Joint Venture Company equaled 0% 100%. $750,000 The Joint Venture Company's LLC Agreement provides Royal Gold with the right, but not 40% $30 $5 October 31, 2018. $30 October 31, 2018, 40% 60% December 31, 2017, $29.3 $5 39.0%. The proceeds of Royal Gold ’s contributions to the Joint Venture Company (including the Royal Gold Initial Contribution) have been used by the Joint Venture Company to fund further exploration activities on the Peak Gold Joint Venture Properties. ’s cumulative contributions closer to $30 Both the Company and Royal Gold will have the right to transfer each of their respective percentage interests in the Joint Venture Company to a third third ’s proportionate share of its percentage interests at the same purchase price and terms and conditions. Once Royal Gold has earned a 40% 20% 40% third third After October 31, 2018, 40% not 100. The Joint Venture Company is a variable interest entity as defined by FASB ASU No. 2015 02, Consolidation (Topic 810 not not

Note 9 - Related Party Transact

Note 9 - Related Party Transactions	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	9. Mr. Brad Juneau, the Company's Chairman, President and Chief Executive Officer, is also the sole manager of JEX, a private company involved in the exploration and production of oil and natural gas. JEX was responsible for securing and negotiating the Tetlin Lease and assisting in obtaining other properties and initially engaged Avalon Development Corporation ("Avalon") to conduct mineral exploration activities on the Tetlin Lease. In agreeing to transfer its interests in such properties to Contango Mining, a predecessor of the Company, JEX retained a 3.0% overriding royalty interest in the properties transferred. In September 2012, 2.0% on properties acquired after July 1, 2012. On September 29, 2014, In September 2016, October 1, 2016. one $32,000 $6,900 No third may three two On October 23, 2017, 553,672 $0.01 $19.00 ck, in a private placement (the "Private Placement") to certain purchasers (the "Purchasers") pursuant to a Stock Purchase Agreement dated as of October 23, 2017 ( $10.5 $10.0 6.50%, 3.25% $0.5 ’s President and Chief Executive Officer, purchased 13,200 $250,800,

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. On September 15, 2010, “2010 November 14, 2017, 2010 2010 may 500,000 September 15, 2017; ’s tax withholding obligations with respect to grants paid in Company Stock. Under the Amended Equity Plan, the Board may 1,000,000 may December 31, 2017, 298,998 75,000 three six December 31, 2017 $580,379 $998,117 three six December 31, 2016 $331,306 $959,650, The amount of compensation expense recognized does not may Restricted Stock. In November 2010, 70,429 23,477 In December 2013, 95,000 two one third December 2013 In November 2014, 27,000 two one third September 2016, one third January 2019. December 31 , 2017, 9,000 In January 2015, 30,000 two 10,000 two two 10,000 January 2015 . In September 2015, 85,000 two one third September 2016, two one third January 2019. December 31 , 2017, 13,332 In December 2015, 40,000 two two one third December 31 , 2017, In August 2016, 100,000 two one third January 2019. December 31, 2017, 46,666 In November 2016, 75,000 January 2019. December 31, 2017, 75,000 In November 2017, 155,000 January 2020. December 31, 2017, 155,000 As of December 31 , 2017, not $4,241,890. Stock Options. The option awards listed in the table below have been granted to directors, executives and consultants of the Company: Option Awards Period Granted Options Granted Weighted Average Exercise Price Vesting Period (7) Expiration Date September 2011 (1) 50,000 $13.13 Vests over two years, beginning with one-third on the grant date. September 2016 July 2012 (2) 100,000 $10.25 Vests over two years, beginning with one-third on the grant date. July 2017 December 2012 (3) 250,000 $10.20 Vests over two years, beginning with one-third on the grant date. December 2017 June 2013 (4) 37,500 $10.00 Vested Immediately June 2018 July 2013 (5) 5,000 $10.00 Vested Immediately July 2018 September 2013 (6) 37,500 $10.01 Vested Immediately September 2018 September 2013 (6) 15,000 $10.01 Vests over two years, beginning with one-third on the grant date. September 2018 ( 1 The Company granted 40,000 10,000 2011. 15,000 ( 2 The Company granted 75,000 25,000 2012. 25,000 ( 3 The Company granted 175,000 75,000 2013. 50,000 ( 4 The Company granted 37,500 2013. ( 5 The Company granted 5,000 2013. ( 6 The Company granted 52,500 first 2014. ( 7 not During the quarter ended December 31, 2017, 190,000 93,026 no 2017, 140,000 71,454 no 3 – Summary of Significant Accounting Policies. 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. As of December 31, 2017, 0.6 A summary of the status of stock options granted under the Amended Equity Plan as of December 31, 2017 and changes during the six Six Months Ended Shares Under Options Weighted Average Exercise Price Outstanding, June 30, 2017 265,000 $ 10.00 Granted — — Exercised 190,000 $ — Forfeited — — Outstanding, December 31, 2017 75,000 $ 10.01 Aggregate intrinsic value $ 687,300 Exercisable, end of period 75,000 $ 10.01 Aggregate intrinsic value $ 687,300 Available for grant, end of period 384,094

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Tetlin Lease . The Tetlin Lease had an initial ten July 2008 ten July 15, 2028, Pursuant to the terms of the Tetlin Lease, the Joint Venture Company is required to spend $350,000 July 15, 2018 2011 $350,000 2.0% 5.0%, December 31, 2017, $225,000 0.75%. 1.25% 4.25%. July 15, 2020, 0.25% $150,000, 0.50% $300,000, 0.75% $450,000. $50,000 July 15, 2012, $75,000 Gold Exploration. The Joint Venture Company’s Triple Z, Tok/Tetlin, Eagle, Bush, West Fork, and Noah claims are all located on state of Alaska lands. The annual claim rentals on these projects vary based on the age of the claims, and are due and payable in full by November 30 2017 2018 $155,505. four Royal Gold Royalties . The Joint Venture Company is obligated to pay Royal Gold (i) an overriding royalty of 3.0% 2.0%

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Management Estimates. The preparation of consolidated financial statements in conformity with GAAP 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates .
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents. Cash equivalents are considered to be highly liquid securities having an original maturity of 90 .
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation . The Company applies the fair value method of accounting for stock-based compensation. Under this method, compensation cost is measured at the grant date based on the fair value of the award and is recognized over the award vesting period. The Company classifies the benefits of tax deductions in excess of the compensation cost recognized for the options (excess tax benefit) as financing cash flows. The fair value of each option award is estimated as of the date of grant using the Black-Scholes option-pricing model. The fair value of each restricted stock award is equal to the Company's stock price on the date the award is granted .
Income Tax, Policy [Policy Text Block]	Income Taxes. The Company follows the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements and (ii) operating loss and tax credit carry-forwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when, based upon management’s estimates, it is more likely than not not December 31, 2017 June 30, 2017 not not December 31, 2017 June 30, 2017. December 22, 2017, 35.0% 21.0%, The Company has assessed the impact of the tax bill on the financial statements as of December 31, 2017. not
Equity Method Investments [Policy Text Block]	Investment in the Joint Venture Company. The Company’s consolidated financial statements include the investment in the Joint Venture Company which is accounted for under the equity method. The Company has designated one three 31 2017 61.0% December 31, 2017 June 30, 2017 .
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements. In August 2014, No. 2014 15, one December 15, 2016, . In March 2016, FASB issued ASU No. 2016 09: 718 2016 09 2016 09 2016 09 2016 09 December 15, 2016, not . Recently Issued Accounting Pronouncements. August 2016, issued Accounting Standards Update ("ASU") No. 2016 15: 230 230, eight eight 1 2 zero 3 4 5 6 7 8 December 15, 2017, may . The Company has evaluated all other recent acco unting pronouncements and believes that none .

Note 4 - Investment in Peak G19

Note 4 - Investment in Peak Gold, LLC (Tables)	6 Months Ended
	Dec. 31, 2017
Notes Tables
Roll-forward of Equity Method Investment [Table Text Block]	Investment in Peak Gold, LLC Investment balance at June 30, 2014 $ — Investment in Peak Gold, LLC, at inception January 8, 2015 1,433,886 Loss from equity investment in Peak Gold, LLC (1,433,886 ) Investment balance at June 30, 2015 $ — Investment in Peak Gold, LLC — Loss from equity investment in Peak Gold, LLC — Investment balance at June 30, 2016 $ — Investment in Peak Gold, LLC — Loss from equity investment in Peak Gold, LLC — Investment balance at June 30, 2017 $ — Loss from equity investment in Peak Gold, LLC — Investment in Peak Gold, LLC — Investment balance at December 31, 2017 $ —
The Joint Venture Company [Member]
Notes Tables
Summarized Balance Sheet of Equity Method Investment [Table Text Block]	December 31, 2017 June 30, 2017 ASSETS Cash and cash equivalents $ 92,640 $ 58,955 Mineral properties 1,433,886 1,433,886 TOTAL ASSETS $ 1,526,526 $ 1,492,841 LIABILITIES AND MEMBERS' EQUITY Accounts payable and other liabilities $ 274,213 $ 1,754,009 TOTAL LIABILITIES 274,213 1,754,009 MEMBERS' (DEFICIT) EQUITY 1,252,313 (261,168 ) TOTAL LIABILITIES AND MEMBERS' EQUITY $ 1,526,526 $ 1,492,841
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, 2017 December 31, 2016 December 31, 2017 December 31, 2016 December 31, 2017 EXPENSES: Exploration expense $ 1,186,445 $ 2,203,430 $ 4,094,520 $ 5,233,030 $ 24,886,695 General and administrative 236,723 395,852 691,999 818,945 4,594,878 Total expenses 1,423,168 2,599,282 4,786,519 6,051,975 29,481,573 NET LOSS $ 1,423,168 $ 2,599,282 $ 4,786,519 $ 6,051,975 $ 29,481,573

Note 6 - Loss Per Share (Tables

Note 6 - Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, 2017 2016 Loss Weighted Average Shares Loss Per Share Loss Weighted Average Shares Loss Per Share Basic Loss per Share: Net loss attributable to common stock $ (808,344 ) 5,650,321 $ (0.14 ) $ (592,142 ) 4,640,034 $ (0.13 ) Diluted Loss per Share: Net loss attributable to common stock $ (808,344 ) 5,650,321 $ (0.14 ) $ (592,142 ) 4,640,034 $ (0.13 ) Six Months Ended December 31, 2017 2016 Loss Weighted Average Shares Loss Per Share Loss Weighted Average Shares Loss Per Share Basic Loss per Share: Net loss attributable to common stock $ (1,476,980 ) 5,289,934 $ (0.28 ) $ (1,547,792 ) 4,315,444 $ (0.36 ) Diluted Loss per Share: Net loss attributable to common stock $ (1,476,980 ) 5,289,934 $ (0.28 ) $ (1,547,792 ) 4,315,444 $ (0.36 )

Note 10 - Stock-based Compens21

Note 10 - Stock-based Compensation (Tables)	6 Months Ended
	Dec. 31, 2017
Notes Tables
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Option Awards Period Granted Options Granted Weighted Average Exercise Price Vesting Period (7) Expiration Date September 2011 (1) 50,000 $13.13 Vests over two years, beginning with one-third on the grant date. September 2016 July 2012 (2) 100,000 $10.25 Vests over two years, beginning with one-third on the grant date. July 2017 December 2012 (3) 250,000 $10.20 Vests over two years, beginning with one-third on the grant date. December 2017 June 2013 (4) 37,500 $10.00 Vested Immediately June 2018 July 2013 (5) 5,000 $10.00 Vested Immediately July 2018 September 2013 (6) 37,500 $10.01 Vested Immediately September 2018 September 2013 (6) 15,000 $10.01 Vests over two years, beginning with one-third on the grant date. September 2018
Share-based Compensation, Stock Options, Activity [Table Text Block]	Six Months Ended Shares Under Options Weighted Average Exercise Price Outstanding, June 30, 2017 265,000 $ 10.00 Granted — — Exercised 190,000 $ — Forfeited — — Outstanding, December 31, 2017 75,000 $ 10.01 Aggregate intrinsic value $ 687,300 Exercisable, end of period 75,000 $ 10.01 Aggregate intrinsic value $ 687,300 Available for grant, end of period 384,094

Note 1 - Organization and Bus22

Note 1 - Organization and Business (Details Textual) shares in Millions, $ in Millions	Nov. 10, 2017a	Sep. 29, 2014	Nov. 29, 2010USD ($)ashares	Sep. 30, 2012a	Dec. 31, 2017USD ($)	Jan. 08, 2015USD ($)
Number of Wholly Owned Subsidiaries					2
Sale of Stock, Number of Shares Issued in Transaction | shares			1.6
Royal Gold [Member] | The Joint Venture Company [Member]
Initial Investment to Fund Exploration Activity | $						$ 5
Percentage of Economic Interest That May Be Obtained						40.00%
Amount of Economic Interest That May Be Obtained | $						$ 30
Payments to Acquire Interest in Joint Venture | $					$ 29.3
Percentage Ownership in Company					39.00%
Unpatented Mining Claims from the State of Alaska for Gold and Minerals [Member]
Acreage of Unpatented Mining Claims | a			18,021
Unpatented State of Alaska Mining Claims [Member] | The Joint Venture Company [Member]
Number of Mining Claims Acquired	541
Mining Claims Acquired, Area | a	84,840
Production Royalty Percentage	3.00%
Percentage of Economic Interest That May Be Obtained	40.00%
Native Village of Tetlin Land [Member]
Percentage of Leasehold Interest			100.00%
Leasehold Interest Acreage | a			675,000
Contango [Member]
Parent Contribution | $			$ 3.5
Royal Gold [Member]
Overriding Royalty Interest			3.00%
Royal Gold [Member] | The Tetlin Lease and Unpatented State of Alaska Mining Claims [Member] | JEX [Member]
Royalty Interest Sold		3.00%
Royal Gold [Member] | Unpatented State of Alaska Mining Claims [Member] | JEX [Member]
Royalty Interest Sold		2.00%
JEX [Member]
Overriding Royalty Interest				2.00%	3.00%
JEX [Member] | Unpatented State of Alaska Mining Claims [Member]
Number of Mining Claims Acquired				474
Mining Claims Acquired, Area | a				71,896
Production Royalty Percentage				2.00%

Note 3 - Summary of Significa23

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Dec. 22, 2017	Dec. 31, 2017	Dec. 31, 2018	Jun. 30, 2017	Oct. 31, 2018	Sep. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jan. 08, 2015	Jun. 30, 2014
Income Tax Expense (Benefit)		$ 0		$ 0
Liability for Uncertainty in Income Taxes, Current		0		0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Equity Method Investments
The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage		61.00%		70.50%					100.00%
Equity Method Investments		$ 0		$ 0		$ 0	$ 0	$ 0		$ 0
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%
Scenario, Forecast [Member] | The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage					60.00%

Note 4 - Investment in Peak G24

Note 4 - Investment in Peak Gold, LLC (Details Textual) - USD ($)	Jan. 08, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Equity Method Investments
Royal Gold [Member] | The Joint Venture Company [Member]
Payments to Acquire Interest in Joint Venture						$ 29,300,000
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	0.00%
The Joint Venture Company [Member]
Equity Method Investment, Aggregate Cost	$ 1,400,000
Equity Method Investment, Ownership Percentage	100.00%	61.00%		61.00%		61.00%		70.50%
Loss from Equity Method Investments, Unrecorded		$ 900,000	$ 2,100,000	$ 3,000,000	$ 5,000,000
Equity Method Investment, Summarized Financial Information, Inception-to-date Cumulative Income (Loss)		(24,200,000)		(24,200,000)		$ (24,200,000)		$ (21,200,000)
Equity Method Investments		0		$ 0		0	$ 0	$ 0	$ 0	$ 0	$ 0
Suspended Losses						22,800,000
The Joint Venture Company [Member] | Royal Gold [Member]
Payments to Acquire Interest in Joint Venture		$ 2,100,000				$ 29,300,000
Equity Method Investment, Ownership Percentage		39.00%		39.00%		39.00%
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	0.00%

Note 4 - Investment in Peak G25

Note 4 - Investment in Peak Gold, LLC - Roll-forward of Investment in the Joint Venture Company (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Investment balance
Loss from equity investment in Peak Gold, LLC
Investment balance
The Joint Venture Company [Member]
Investment balance	0		0	$ 0	0	$ 0	$ 0
Investment in Peak Gold, LLC							1,433,886
Loss from equity investment in Peak Gold, LLC							(1,433,886)
Investment balance	$ 0		$ 0		$ 0	$ 0	$ 0

Note 4 - Investment in Peak G26

Note 4 - Investment in Peak Gold, LLC - Condensed Balance Sheet for Peak Gold, LLC (Details) - The Joint Venture Company [Member] - USD ($)	Dec. 31, 2017	Jun. 30, 2017
Cash and cash equivalents	$ 92,640	$ 58,955
Mineral properties	1,433,886	1,433,886
TOTAL ASSETS	1,526,526	1,492,841
Accounts payable and other liabilities	274,213	1,754,009
TOTAL LIABILITIES	274,213	1,754,009
MEMBERS' (DEFICIT) EQUITY	1,252,313	(261,168)
TOTAL LIABILITIES AND MEMBERS' EQUITY	$ 1,526,526	$ 1,492,841

Note 4 - Investment in Peak G27

Note 4 - Investment in Peak Gold, LLC - Condensed Results of Operations for Peak Gold, LLC (Details) - The Joint Venture Company [Member] - USD ($)	3 Months Ended		6 Months Ended		36 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017
Exploration expense	$ 1,186,445	$ 2,203,430	$ 4,094,520	$ 5,233,030	$ 24,886,695
General and administrative	236,723	395,852	691,999	818,945	4,594,878
Total expenses	1,423,168	2,599,282	4,786,519	6,051,975	29,481,573
NET LOSS	$ 1,423,168	$ 2,599,282	$ 4,786,519	$ 6,051,975	$ 29,481,573

Note 5 - Prepaid Expenses and28

Note 5 - Prepaid Expenses and Other (Details Textual) - USD ($)	Dec. 31, 2017	Jun. 30, 2017
Prepaid Expense, Current	$ 125,560	$ 175,791

Note 6 - Loss Per Share (Detail

Note 6 - Loss Per Share (Details Textual) - shares	Dec. 31, 2017	Jun. 30, 2017
Options and Warrants Outstanding	271,000	845,999

Note 6 - Loss Per Share - Recon

Note 6 - 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, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Net loss	$ (808,344)	$ (592,142)	$ (1,476,980)	$ (1,547,792)
Weighted average shares outstanding, basic (in shares)	5,650,321	4,640,034	5,289,934	4,315,444
Loss per share, basic (in dollars per share)	$ (0.14)	$ (0.13)	$ (0.28)	$ (0.36)
Weighted average shares outstanding, diluted (in shares)	5,650,321	4,640,034	5,289,934	4,315,444
Loss per share, diluted (in dollars per share)	$ (0.14)	$ (0.13)	$ (0.28)	$ (0.36)

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Details Textual) - USD ($)	Oct. 23, 2017	Nov. 10, 2017	Sep. 30, 2016	Dec. 31, 2017	Oct. 13, 2017	Jun. 30, 2017	Mar. 31, 2013
Common Stock, Shares Authorized				30,000,000		30,000,000
Preferred Stock, Shares Authorized				15,000,000
Common Stock, Shares, Outstanding				5,975,048		4,921,163
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				271,000
Preferred Stock, Shares Issued				0
Common Stock, Par or Stated Value Per Share			$ 0.01	$ 0.01		$ 0.01
Stock Issued During Period, Value, New Issues				$ 10,519,768
Private Placement [Member] | March 2013 Warrant Holders [Member]
Common Stock, Par or Stated Value Per Share					$ 0.01
Class of Warrant or Right, Exercise Price of Warrants or Rights					10
Class of Warrant or Right, Exercised During Period		124,999
Proceeds from Warrant Exercises		$ 1,200,000
Class of Warrant or Right, Reduced Exercise Price of Warrants or Rights					$ 9.50
Private Placement [Member] | Certain Purchasers [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01
Stock Issued During Period, Shares, New Issues	553,672
Shares Issued, Price Per Share	$ 19
Proceeds from Issuance of Private Placement	$ 10,500,000
Proceeds from Issuance of Private Placement, Net of Issuance Costs	$ 10,000,000
Private Placement Fee, Percentage	6.50%
Private Placement Fee, Reduced Percentage	3.25%
Payments of Stock Issuance Costs	$ 500,000
Juneau Exploration L.P. [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues	13,200
Stock Issued During Period, Value, New Issues	$ 250,800
March 2013 Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 9				$ 10
Class of Warrant or Right, Exercised During Period			587,500
Proceeds from Warrant Exercises			$ 5,300,000
March 2013 Warrant [Member] | Entities Controlled by CEO [Member]
Class of Warrant or Right, Exercised During Period			83,334
Rights to Purchase Series A Junior Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				0.01
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 80
Beneficial Ownership Required for Rights to Be Exercisable				23.00%
Class of Warrant or Right, Distributed for Each Share of Common Stock				1
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				298,998

Note 8 - Formation of Joint V32

Note 8 - Formation of Joint Venture Company (Details Textual) - The Joint Venture Company [Member] - USD ($)	Jan. 08, 2015	Dec. 31, 2017	Dec. 31, 2017	Oct. 31, 2018	Jun. 30, 2017
Equity Method Investment, Aggregate Cost	$ 1,400,000
Investments in Joint Ventures, Contributed Assets Value	$ 45,700,000
Equity Method Investment, Ownership Percentage	100.00%	61.00%	61.00%		70.50%
Additional Economic Interest Sellable	20.00%
Percentage Interest in Joint Venture, Calculation of Proportionate Interest, Multiplier	100
Scenario, Forecast [Member]
Equity Method Investment, Ownership Percentage				60.00%
Royal Gold [Member]
Initial Investment to Fund Exploration Activity	$ 5,000,000
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	0.00%
Equity Method Investment, Ownership Percentage		39.00%	39.00%
Reimbursement from Joint Venture Co-founder	$ 750,000
Percentage of Economic Interest That May Be Obtained	40.00%
Amount of Economic Interest That May Be Obtained	$ 30,000,000
Payments to Acquire Interest in Joint Venture		$ 2,100,000	$ 29,300,000
Equity Method Investment, Cumulative Contributions if Additional Contributions Made		$ 30,000,000	$ 30,000,000

Note 9 - Related Party Transa33

Note 9 - Related Party Transactions (Details Textual) - USD ($)	Oct. 23, 2017	Sep. 30, 2016	Dec. 31, 2017	Jun. 30, 2017	Sep. 30, 2012
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01	$ 0.01
Stock Issued During Period, Value, New Issues			$ 10,519,768
Private Placement [Member] | Certain Purchasers [Member]
Stock Issued During Period, Shares, New Issues	553,672
Common Stock, Par or Stated Value Per Share	$ 0.01
Shares Issued, Price Per Share	$ 19
Proceeds from Issuance of Private Placement	$ 10,500,000
Proceeds from Issuance of Private Placement, Net of Issuance Costs	$ 10,000,000
Private Placement Fee, Percentage	6.50%
Private Placement Fee, Reduced Percentage	3.25%
Payments of Stock Issuance Costs	$ 500,000
JEX [Member]
Overriding Royalty Interest			3.00%		2.00%
Management Services Agreement, Initial Term		1 year
Management Services Agreement, Fee Per Month		$ 32,000
JEX [Member] | Expense for Office Space and Equipment [Member]
Management Services Agreement, Fee Per Month		$ 6,900
JEX [Member] | Alaska [Member]
Overriding Royalty Interest					2.00%
Juneau Exploration L.P. [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues	13,200
Stock Issued During Period, Value, New Issues	$ 250,800

Note 10 - Stock-based Compens34

Note 10 - Stock-based Compensation (Details Textual) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Nov. 30, 2017

Nov. 30, 2016

Aug. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jan. 31, 2015

Nov. 30, 2014

Dec. 31, 2013

Jul. 31, 2013

[1]

Jun. 30, 2013

[2]

Dec. 31, 2012

[3]

Jul. 31, 2012

[4]

Sep. 30, 2011

[5]

Nov. 30, 2010

Dec. 31, 2017

Dec. 31, 2016

Sep. 30, 2013

Dec. 31, 2017

Dec. 31, 2016

Jun. 30, 2017

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

298,998

298,998

The 2010 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

1,000,000

1,000,000

Allocated Share-based Compensation Expense

$ 580,379

$ 331,306

$ 998,117

$ 959,650

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized

$ 4,241,890

$ 4,241,890

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

5,000

37,500

250,000

100,000

50,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period

50,000

25,000

15,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

190,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term

219 days

The 2010 Plan [Member] | Directors and Officers [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

175,000

75,000

40,000

The 2010 Plan [Member] | Former Technical Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

75,000

25,000

10,000

The 2010 Plan [Member] | Executives [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

52,500

37,500

The 2010 Plan [Member] | Employee of Avalon [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross

5,000

The 2010 Plan [Member] | Current Executives, Directors, and Consultants [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Cashless Exercises in Period

190,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

93,026

Proceeds from Stock Options Exercised

$ 0

The 2010 Plan [Member] | Current and Former Executives, Directors, and Consultants [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Cashless Exercises in Period

140,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period

71,454

Proceeds from Stock Options Exercised

$ 0

The 2010 Plan [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

75,000

75,000

The 2010 Plan [Member] | Restricted Stock [Member] | November 2014 Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

9,000

9,000

The 2010 Plan [Member] | Restricted Stock [Member] | September 2015 Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

13,332

13,332

The 2010 Plan [Member] | Restricted Stock [Member] | August 2016 Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

46,666

46,666

The 2010 Plan [Member] | Restricted Stock [Member] | Directors and Officers [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

70,429

The 2010 Plan [Member] | Restricted Stock [Member] | Former Technical Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

10,000

23,477

The 2010 Plan [Member] | Restricted Stock [Member] | Directors, Executives, and a Former Technical Consultant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

95,000

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

2 years

The 2010 Plan [Member] | Restricted Stock [Member] | Directors, Executives, and a Former Technical Consultant [Member] | Vesting on the Date of Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

33.30%

The 2010 Plan [Member] | Restricted Stock [Member] | Executives [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

100,000

85,000

27,000

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

2 years

2 years

2 years

The 2010 Plan [Member] | Restricted Stock [Member] | Executives [Member] | Vesting on the Date of Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

33.30%

33.30%

33.30%

The 2010 Plan [Member] | Restricted Stock [Member] | Executives [Member] | Share-based Compensation Award, Tranche Three [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

33.30%

The 2010 Plan [Member] | Restricted Stock [Member] | Executives [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

33.30%

The 2010 Plan [Member] | Restricted Stock [Member] | Two Non-executive Directors [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

40,000

30,000

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

2 years

2 years

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period

10,000

The 2010 Plan [Member] | Restricted Stock [Member] | Two Non-executive Directors [Member] | Vesting on the Date of Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

33.30%

33.30%

The 2010 Plan [Member] | Restricted Stock [Member] | Two Non-executive Directors [Member] | Share-based Compensation Award, Tranche Two [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

66.60%

The 2010 Plan [Member] | Restricted Stock [Member] | Non-Executive Directors [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

75,000

The 2010 Plan [Member] | Restricted Stock [Member] | Non-Executive Directors [Member] | November 2016 Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

75,000

75,000

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, Grants in Period

155,000

The 2010 Plan [Member] | Restricted Stock [Member] | Executives and Non-executive Directors [Member] | November 2017 Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number

155,000

155,000

[1]

The Company granted 5,000 stock options to an employee of Avalon for services performed during fiscal year 2013.

[2]

The Company granted 37,500 stock options to its executives for services performed during fiscal year 2013.

[3]

The Company granted 175,000 stock options to its directors and executives and an additional 75,000 stock options to a former technical consultant for services performed during fiscal year 2013. Of the total options granted as a part of this grant, 50,000 were later forfeited.

[4]

The Company granted 75,000 stock options to its directors and executives and an additional 25,000 stock options to a former technical consultant for services performed during fiscal year 2012. Of the total options granted as a part of this grant, 25,000 were later forfeited.

[5]

The Company granted 40,000 stock options to its directors and executives and an additional 10,000 stock options to a former technical consultant, for services performed during fiscal year 2011. Of the total options granted 15,000 were later forfeited.

Note 10 - Stock-based Compens35

Note 10 - Stock-based Compensation - Stock Option Awards (Details) - The 2010 Plan [Member] - $ / shares

1 Months Ended

6 Months Ended

Sep. 30, 2013

Jul. 31, 2013

[1]

Jun. 30, 2013

[2]

Dec. 31, 2012

[3]

Jul. 31, 2012

[4]

Sep. 30, 2011

[5]

Dec. 31, 2017

Options Granted (in shares)

5,000

37,500

250,000

100,000

50,000

Options Granted, Weighted Average Exercise Price (in dollars per share)

$ 10

$ 10

$ 10.20

$ 10.25

$ 13.13

Vested Immediately [Member]

Options Granted (in shares)

[6]

37,500

Options Granted, Weighted Average Exercise Price (in dollars per share)

[6]

$ 10.01

Vests Over Two Years [Member]

Options Granted (in shares)

[6]

15,000

Options Granted, Weighted Average Exercise Price (in dollars per share)

[6]

$ 10.01

Employee Stock Option [Member]

Vesting Period (Year)

[7]

2 years

2 years

2 years

Vesting Period

[7]

Employee Stock Option [Member] | Vested Immediately [Member]

Vesting Period

[6],[7]

Employee Stock Option [Member] | Vests Over Two Years [Member]

Vesting Period (Year)

[6],[7]

2 years

[1]

The Company granted 5,000 stock options to an employee of Avalon for services performed during fiscal year 2013.

[2]

The Company granted 37,500 stock options to its executives for services performed during fiscal year 2013.

[3]

The Company granted 175,000 stock options to its directors and executives and an additional 75,000 stock options to a former technical consultant for services performed during fiscal year 2013. Of the total options granted as a part of this grant, 50,000 were later forfeited.

[4]

The Company granted 75,000 stock options to its directors and executives and an additional 25,000 stock options to a former technical consultant for services performed during fiscal year 2012. Of the total options granted as a part of this grant, 25,000 were later forfeited.

[5]

The Company granted 40,000 stock options to its directors and executives and an additional 10,000 stock options to a former technical consultant, for services performed during fiscal year 2011. Of the total options granted 15,000 were later forfeited.

[6]

The Company granted 52,500 stock options to its executives for services performed during the first quarter of fiscal year 2014.

[7]

If at any time there occurs a change of control, as defined in the 2010 Plan, any options that are unvested at that time will immediately vest. The Company's Compensation Committee has determined that the Transactions do not constitute a change of control under the 2010 Plan.

Note 10 - Stock-based Compens36

Note 10 - Stock-based Compensation - Summary of Stock Options (Details) - The 2010 Plan [Member] - USD ($)

1 Months Ended

6 Months Ended

12 Months Ended

Jul. 31, 2013

[1]

Jun. 30, 2013

[2]

Dec. 31, 2012

[3]

Jul. 31, 2012

[4]

Sep. 30, 2011

[5]

Dec. 31, 2017

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2011

Options outstanding (in shares)

265,000

Options outstanding, weighted average exercise price (in dollars per share)

$ 10

Options Granted (in shares)

5,000

37,500

250,000

100,000

50,000

Options Granted, Weighted Average Exercise Price (in dollars per share)

$ 10

$ 10

$ 10.20

$ 10.25

$ 13.13

Options exercised (in shares)

190,000

Options exercised, weighted average exercise price (in dollars per share)

Options forfeited (in shares)

50,000

25,000

15,000

Options forfeited, weighted average exercise price (in dollars per share)

Options outstanding (in shares)

75,000

Options outstanding, weighted average exercise price (in dollars per share)

$ 10.01

Options outstanding, aggregate intrinsic value

$ 687,300

Options exercisable (in shares)

75,000

Options exercisable, weighted average exercise price (in dollars per share)

$ 10.01

Options exercisable, aggregate intrinsic value

$ 687,300

Options available for grant (in shares)

384,094

[1]

The Company granted 5,000 stock options to an employee of Avalon for services performed during fiscal year 2013.

[2]

The Company granted 37,500 stock options to its executives for services performed during fiscal year 2013.

[3]

The Company granted 175,000 stock options to its directors and executives and an additional 75,000 stock options to a former technical consultant for services performed during fiscal year 2013. Of the total options granted as a part of this grant, 50,000 were later forfeited.

[4]

The Company granted 75,000 stock options to its directors and executives and an additional 25,000 stock options to a former technical consultant for services performed during fiscal year 2012. Of the total options granted as a part of this grant, 25,000 were later forfeited.

[5]

The Company granted 40,000 stock options to its directors and executives and an additional 10,000 stock options to a former technical consultant, for services performed during fiscal year 2011. Of the total options granted 15,000 were later forfeited.

Note 11 - Commitments and Con37

Note 11 - Commitments and Contingencies (Details Textual) - USD ($)	Jul. 15, 2012	Jul. 31, 2008	Dec. 31, 2017
Tetlin Lease [Member]
Inception-to-date Payments to Reduce Royalty Rate			$ 225,000
Decrease in Royalty Rates			0.75%
Tetlin Lease [Member] | Scenario 1 [Member]
Increase in Royalty Rates			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%
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%
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]
Contractual Annual Exploration Costs		$ 350,000
Tetlin Lease [Member] | The Joint Venture Company [Member] | Minimum [Member]
Royalty Rate		2.00%	1.25%
Tetlin Lease [Member] | The Joint Venture Company [Member] | Maximum [Member]
Royalty Rate		5.00%	4.25%
Gold Properties [Member]
Annual Claim Rentals			$ 155,505
Tetlin Lease and Certain Other Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member]
Overriding Royalty Interest			3.00%
Additional Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member]
Overriding Royalty Interest			2.00%
Native Village of Tetlin Land [Member]
Initial Term of Leases and Concessions on Undeveloped Acreage		10 years
Extension of Term of Leases and Concessions on Undeveloped Acreage		10 years