Contango Ore (CTGO) 10-Q 12 Nov 21 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Document Information [Line Items]
Entity Central Index Key	0001502377
Entity Registrant Name	Contango ORE, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35770
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3431051
Entity Address, Address Line One	3700 BUFFALO SPEEDWAY, SUITE 925
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77098
City Area Code	713
Local Phone Number	877-1311
Title of 12(b) Security	Common Stock, Par Value $0.01 per share
Trading Symbol	CTGO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,685,746

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
CURRENT ASSETS:
Cash	$ 26,757,297	$ 35,220,588
Restricted cash	231,000	0
Prepaid expenses and other	561,789	515,635
Income tax receivable	278,126	198,126
Total current assets	27,828,212	35,934,349
LONG-TERM ASSETS:
Investment in Peak Gold (Note 4)	0	0
Property & Equipment, net	13,633,639	36,531
Total long-term assets	13,633,639	36,531
TOTAL ASSETS	41,461,851	35,970,880
CURRENT LIABILITIES:
Accounts payable	546,124	26,268
Accrued liabilities	444,884	195,837
Note payable	6,250,000	0
Total current liabilities	7,241,008	222,105
NON-CURRENT LIABILITIES:
Advance royalty reimbursement	1,200,000	1,200,000
Asset retirement obligations	218,927	0
Contingent consideration liability	1,847,063	0
Total non-current liabilities	3,265,990	1,200,000
TOTAL LIABILITIES	10,506,998	1,422,105
COMMITMENTS AND CONTINGENCIES (NOTE 13)
SHAREHOLDERS’ EQUITY:
Common Stock, $0.01 par value, 45,000,000 shares authorized; 6,685,746 shares issued and outstanding at September 30, 2021; 6,675,746 shares issued and outstanding at June 30, 2021	66,857	66,757
Additional paid-in capital	70,487,797	69,509,606
Accumulated deficit	(39,599,801)	(35,027,588)
TOTAL SHAREHOLDERS’ EQUITY	30,954,853	34,548,775
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 41,461,851	$ 35,970,880

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2021	Jun. 30, 2021
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	45,000,000	45,000,000
Common stock, shares issued (in shares)	6,685,746	6,675,746
Common stock, shares outstanding (in shares)	6,685,746	6,675,746

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
EXPENSES:
Claim rental expense	$ (149,810)	$ (20,828)
Exploration expense	(946,245)	0
Depreciation expense	(4,782)	0
General and administrative expense	(1,970,269)	(3,524,992)
Total expenses	(3,071,106)	(3,545,820)
OTHER INCOME/(EXPENSE):
Interest income	497	214
Interest expense	(56,604)	0
Loss from equity investment in Peak Gold, LLC (Note 4)	(1,445,000)	(247,800)
Gain on sale of a portion of the equity investment in Peak Gold, LLC	0	39,642,857
Total other income/(expense)	(1,501,107)	39,395,271
INCOME/(LOSS) BEFORE TAXES	(4,572,213)	35,849,451
Income tax (expense)/benefit	0	(2,406,826)
NET INCOME/(LOSS)	$ (4,572,213)	$ 33,442,625
NET INCOME/(LOSS) PER SHARE
Basic and diluted (in dollars per share)	$ (0.68)	$ 5.09
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and diluted (in shares)	6,680,637	6,576,049

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(loss)	$ (4,572,213)	$ 33,442,625
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Stock-based compensation	1,021,851	892,158
Depreciation expense	4,782	0
Loss from equity investment in Peak Gold, LLC	1,445,000	247,800
Gain on sale of a portion of the equity investment in Peak Gold, LLC	0	(39,642,857)
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses and other	68,478	(100,275)
Increase in accounts payable and accrued liabilities	559,421	813,592
Decrease (increase) in income tax receivable	(80,000)	2,406,826
Increase in advance royalty reimbursement	0	1,200,000
Net cash used in operating activities	(1,552,681)	(740,131)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash invested in Peak Gold, LLC	(1,445,000)	(247,800)
Acquisition of property, plant, and equipment	(13)	0
Cash paid for acquisition of Alaska Gold Torrent, LLC, net of cash received	(5,191,037)	0
Cash proceeds from the sale of a portion of the equity investment in Peak Gold, LLC	0	31,200,000
Net cash provided/(used) by investing activities	(6,636,050)	30,952,200
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash proceeds from capital raise, net	(43,560)	3,165,622
Net cash provided/(used) by financing activities	(43,560)	3,165,622
NET INCREASE/(DECREASE) IN CASH	(8,232,291)	33,377,691
CASH, BEGINNING OF PERIOD	35,220,588	3,011,918	$ 3,011,918
CASH AND RESTRICTED CASH, END OF PERIOD	26,988,297	36,389,609	$ 35,220,588
Supplemental disclosure of cash flow information
Cash paid for income taxes	80,000	0
Non-cash investing activities
Note payable issued for acquisition of Alaska Gold Torrent, LLC	6,250,000	0
Direct transaction costs for acquisition of Alaska Gold Torrent, LLC financed in accounts payable	199,369	0
Contingent liability for acquisition of Alaska Gold Torrent, LLC	1,847,063	0
Total non-cash investing activities	$ 8,296,432	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Jun. 30, 2020	6,590,113
Balance at Jun. 30, 2020	$ 65,901	$ 61,302,249	$ (476,672)	$ (58,896,711)	$ 1,994,767
Stock-based compensation		892,158			892,158
Cost of common stock issuance		(109,382)			(109,382)
Net income/(loss)	$ 0	0	0	33,442,625	33,442,625
Issuance of common stock (in shares)	214,298
Issuance of common stock	$ 2,143	2,796,189	476,672		3,275,004
Shares received from the partial sale of the investment in Peak Gold, LLC and retired (in shares)	(809,744)
Shares received from the partial sale of the investment in Peak Gold, LLC and retired	$ (8,097)	(8,434,760)			(8,442,857)
Balance (in shares) at Sep. 30, 2020	5,994,667
Balance at Sep. 30, 2020	$ 59,947	56,446,454	0	(25,454,086)	31,052,315
Balance (in shares) at Jun. 30, 2021	6,675,746
Balance at Jun. 30, 2021	$ 66,757	69,509,606	0	(35,027,588)	34,548,775
Stock-based compensation		1,021,851			1,021,851
Cost of common stock issuance		(43,560)			(43,560)
Restricted shares activity (in shares)	10,000
Restricted shares activity	$ 100	(100)
Net income/(loss)	$ 0	0	0	(4,572,213)	(4,572,213)
Balance (in shares) at Sep. 30, 2021	6,685,746
Balance at Sep. 30, 2021	$ 66,857	$ 70,487,797	$ 0	$ (39,599,801)	$ 30,954,853

Note 1 - Organization and Busin

Note 1 - Organization and Business	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Contango ORE, Inc. (“CORE” or the “Company”) engages in exploration for gold ore and associated minerals in Alaska. The Company conducts its operations through three ● a 30.0% membership interest in Peak Gold, LLC (the “Peak Gold JV”), which leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 additional acres of State of Alaska mining claims (such combined acreage, the “Peak Gold JV Property”) for exploration and development, including in connection with the Peak Gold JV's plan to mine ore from the Peak and North Peak deposits within the Peak Gold JV Property (the “Manh Choh Project”); ● its wholly-owned subsidiary, Alaska Gold Torrent, LLC, an Alaska limited liability company (“AGT”), which leases the mineral rights to approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc., located in three 75 9 ● its wholly-owned subsidiary, Contango Minerals Alaska, LLC (“Contango Minerals”), which separately owns the mineral rights to approximately 215,800 acres of State of Alaska mining claims for exploration, including (i) approximately 139,100 acres located immediately northwest of the Peak Gold JV Property (the “Eagle/Hona Property”), (ii) approximately 14,800 acres located northeast of the Peak Gold JV Property (the “Triple Z Property”), (iii) approximately 52,700 acres of new property in the Richardson district of Alaska staked by the Company in the first 2021 The Lucky Shot Property and the Minerals Property are collectively referred to in these Notes to Unaudited Condensed Consolidated Financial Statements as the “Contango Properties”. The Company is in an exploration stage. The Company’s fiscal year end is June 30. The Company has been involved in the exploration on the Manh Choh Project for eleven two 250 On December 10, 2020, 2021 June 22, 2021, September 30, 2021, 2021. In addition, the Company plans to fund an approximately $3.0 million exploration program to continue its exploration efforts on the Eagle/Hona Property located immediately north of the Manh Choh Project area, and to explore for additional resources on the 100%-owned Triple Z Property in 2022, July 2021. The Company’s 30.0% membership interest in the Peak Gold JV, its ownership of AGT and Contango Minerals, and cash on hand constitute substantially all of the Company’s assets. Background Information The Company was formed on September 1, 2010 On January 8, 2015, September 30, 2020, Concurrently with the CORE Transactions, KG Mining, in a separate transaction, acquired 100% of the equity of Royal Alaska, LLC from Royal Gold, which held Royal Gold's 40.0% membership interest in the Peak Gold JV (the “Royal Gold Transactions” and, together with the CORE Transactions, the “Kinross Transactions”). After the consummation of the Kinross Transactions, CORE Alaska retained a 30.0% membership interest in the Peak Gold JV. KG Mining now holds a 70.0% membership interest in the Peak Gold JV and Kinross serves as the manager and operator of the Peak Gold JV.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Basis of Accounting [Text Block]	2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including instructions to Form 10 -Q and Article 8 of Regulation S- X. Accordingly, they do not include all the information and footnotes required by US GAAP for complete annual consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the consolidated audited financial statements and notes included in the Company ’s Form 10 -K for the fiscal year ended June 30, 2021. The results of operations for the three ended September 30, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2022.

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Summary of Significant Accounting Policies The Company ’s significant accounting policies are described below . Cash. three September 30, 2021, June 30, 2021. Management Estimates. The preparation of consolidated financial statements in conformity with US 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates . 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 Investment in the Peak Gold JV. September 30, 2021 one three September 30, 2021 June 30, 2021 zero Property & Equipment may not September 30, 2021 2020. no no no Fair Value Measurement. three one three The three Level 1 Level 2 not Level 3 no The Company received 809,744 shares of its Common Stock as part of the consideration received for the sale of a portion of its membership interest in the Peak Gold JV (See Note 8 30.0% 3 Business Combinations. first not not not not not The Company purchased 100% of the outstanding membership interests of AGT in August 2021 ( 9 Recently Issued Accounting Pronouncements. In February 2016, 2016 02, Leases (Topic 842 , which requires recognition of right-of-use assets and lease payment liabilities on the balanc twelve 2016 02 July 2019. two In January 2020, 2020 01, Investments—Equity Securities (Topic 321 323 815 the interaction between the three December 15, 2020, not The Company has evaluated all other recent acco unting pronouncements and believes that none .

Note 4 - Investment in the Peak

Note 4 - Investment in the Peak Gold JV	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	4 . Investment in the Peak Gold JV The Company initially recorded its investment at the historical book value of the assets contributed to the Peak Gold JV, which was approximately $1.4 million. As of September 30, 2021, KG Mining acquired 70% September 30, 2021, 3 0.0% The following table is a roll-forward of the Company's investment in the Peak Gold JV from January 8, 2015 ( September 30, 2021: 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 $ — Investment in Peak Gold, LLC 2,580,000 Loss from equity investment in Peak Gold, LLC (2,580,000 ) Investment balance as June 30, 2018 $ — Investment in Peak Gold, LLC 4,140,000 Loss from equity investment in Peak Gold, LLC (4,140,000 ) Investment balance at June 30, 2019 $ — Investment in Peak Gold, LLC 3,720,000 Loss from equity investment in Peak Gold, LLC (3,720,000 ) Investment balance at June 30, 2020 $ — Investment in Peak Gold, LLC 3,861,252 Loss from equity investment in Peak Gold, LLC (3,861,252 ) Investment balance at June 30, 2021 $ — Investment in Peak Gold, LLC 1,445,000 Loss from equity investment in Peak Gold, LLC (1,445,000 ) Investment balance at September 30, 2021 $ — In conjunction with the CORE Transactions, and Kinross assuming the role of manager of the Peak Gold JV, the Peak Gold JV converted its method of accounting from US GAAP to International Financial Reporting Standards (“IFRS”) and changed its fiscal year end from June 30 December 31, December 31, 2020. three September 30, 2021 2020, 30, 2021 in accordance with US GAAP: Three Months Ended Three Months Ended Period from Inception January 8, 2015 to September 30, 2021 September 30, 2020 September 30, 2021 EXPENSES: Exploration expense $ 3,056,104 $ 299,127 $ 51,932,867 General and administrative 305,057 291,921 11,296,063 Total expenses 3,361,161 591,048 63,228,930 NET LOSS $ 3,361,161 $ 591,048 $ 63,228,930 The Company’s share of the Peak Gold JV’s results of operations for the three September 30, 2021 three 30 , 2020 . The Peak Gold JV loss does not September 30, 2021 June 30, 2021, zero each September 30, 2021 June 30, 2021. not 30, 2021. September 30, 2021

Note 5 - Prepaid Expenses and O

Note 5 - Prepaid Expenses and Other Assets	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Prepaid Expenses [Text Block]	5. The Company has prepaid expenses and other assets of $561,789 and $515,635 as of September 30, 2021 and June 30, 2021, 30, 2021.

Note 6 - Net Income (Loss) Per

Note 6 - Net Income (Loss) Per Share	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	6. A reconciliation of the components of basic and diluted net income/(loss) per share of Common Stock is presented below: Three Months Ended September 30, 2021 2020 Net Loss Weighted Average Shares Loss Per Share Net Income Weighted Average Shares Income Per Share Basic Net Income/(Loss) per Share: Net loss attributable to common stock $ (4,572,213 ) 6,680,637 $ (0.68 ) $ 33,442,625 6,576,049 $ 5.09 Diluted Net Income/(Loss) per Share: Net loss attributable to common stock $ (4,572,213 ) 6,680,637 $ (0.68 ) $ 33,442,625 6,576,049 $ 5.09 Options to purchase 100,000 shares of Common Stock of the Company were outstanding as of each of September 30, 2021 June 30, 2021. not September 30, 2021 2020 September 30, 2021 2020.

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	7. ’ Equity On December 11, 2020, The Company has 15,000,000 authorized shares of preferred stock. As of September 30, 2021, the Company had 6,685,746 shares of Common Stock outstanding, including 411,333 share s of unvested restricted stock, 2020 2021 . September 30, 2021, No December 2021 August 2024. The Company entered into Stock Purchase Agreements dated as of June 14, June 17, 2021 ( “2021 2021 June 17 18, 2021. 2021 2021 2021 June 17, 2021, not 2021 June 18, 2021. 2021 On September 23, 2020, “2020 2020 2020 may may 2020 2020 Rights Plan Termination and Rights Agreement On December 19, 2012, March 21, 2013, September 29, 2014, December 18, 2014, November 11, 2015, April 22, 2018, November 20, 2019. September 23, 2020, September 23, 2020, no September 23, 2020, Pursuant to the Rights Agreement, the Board declared a dividend of one October 5, 2020. one September 22, 2021. no 18.0% 20.0% one one 1/1000 On September 21, 2021, September 22, 2022.

Note 8 - Sales Transaction With

Note 8 - Sales Transaction With Kg Mining	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	8. On September 29, 2020, September 30, 2020. may Concurrently with the Purchase Agreement, KG Mining, in a separate transaction, acquired from Royal Gold (i) 100% of the equity of Royal Alaska, LLC , which held a 40.0% membership interest in the Peak Gold JV and (ii) 809,744 shares of Common Stock held by Royal Gold. After the consummation of the Kinross Transactions, CORE Alaska retains a 30.0% membership interest in the Peak Gold JV. KG Mining now holds a 70.0% membership interest in the Peak Gold JV and serves as the manager and operator of the Peak Gold JV. KG Mining and CORE Alaska entered into the Amended and Restated Limited Liability Company Agreement of Peak Gold JV (“A&R JV LLCA”) on October 1, 2020 The Company recorded the $32.4 million cash proceeds and the 809,744 shares of Common Stock, received from the CORE Transactions, at fair value and recognized a gain on sale of $39.6 million. The Company valued the Common Stock consideration from the CORE Transactions consistent with the accounting guidance for non-monetary exchanges. The stock consideration was valued based on the implied fair value of the CORE Transactions in total less the cash proceeds. The total value of the CORE Transactions was equated to the value of the Company's 30.0% ownership in the Peak Gold JV, post the 30.0% 3 3 zero The Company recorded a non-current liability totaling $1.2 million associated with the cash received for the reimbursement prepayment to the Company of its proportionate share of certain silver royalty payments that the Peak Gold JV may 5% Prior to the Kinross Transactions, the Peak Gold JV, Contango Minerals, the Company, CORE Alaska, Royal Gold and Royal Alaska entered into a Separation and Distribution Agreement, dated as of September 29, 2020 ( one hundred The distribution of the Alaska state mining claims to Contango Minerals meets the definition of a non-reciprocal nonmonetary transfer as defined in Accounting Standards Codification (“ASC”) 845 not zero zero In connection with the Separation Agreement, the Peak Gold JV and Contango Minerals entered into the Option Agreement. Under the Option Agreement, Contango Minerals granted the Peak Gold JV an option, subject to certain conditions contained in the Option Agreement, to purchase approximately 13,000 acres of the Alaska state mining claims which were contributed to Contango Minerals pursuant to the Separation Agreement, together with all extralateral rights, water and water rights, and easements and rights of way in connection therewith, that are held by Contango Minerals. The signing of the Option Agreement did not On October 1, 2020, After the consummation of the Kinross Transactions, Kinross, through KG Mining, replaced Royal Gold as the Company’s joint venture partner and as manager of the Peak Gold JV. After consummation of the Kinross Transactions, CORE Alaska holds a 30.0% membership interest in the Peak Gold JV and KG Mining holds a 70.0% membership interest in the Peak Gold JV. The A&R JV LLCA established the Management Committee to determine the overall policies, objectives, procedures, methods and actions of the Peak Gold JV. The Management Committee currently consists of one two actions Prior to the CORE Transactions, the Peak Gold JV was a variable interest entity as defined by FASB ASU No. 2015 02, 810 not not After the Kinross Transactions, the Company retained a 30.0% membership interest in the Peak Gold JV. The Company continues to have significant influence in the Peak Gold JV pursuant to its right to designate one three

Note 9 - Acquisition of Lucky S

Note 9 - Acquisition of Lucky Shot Property	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Asset Acquisition [Text Block]	9. On August 24, 2021, February 28, 2022 ( 30 not not In addition to the cash at closing and the Promissory Note, the Company will be obligated to pay CRH additional consideration if production on the Lucky Shot Property meets two first 1 2 second 1 2 30 thirty The Company also agreed to make $10,000,000 in expenditures during the 36 The Company evaluated this acquisition under ASC 805, Business Combinations 805 805 not not 480 3 3

Note 10 - Property & Equipment

Note 10 - Property & Equipment	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	10. The table below sets forth the book value by type of fixed asset as well as the estimated useful life: Asset Type Estimated Useful Life September 30, 2021 June 30, 2021 Mineral properties N/A - Units of Production $ 11,697,614 $ — Land Not Depreciated 87,714 — Buildings and improvements 20-39 years 1,455,159 — Machinery and equipment 3 - 10 years 287,559 — Vehicles 5 years 96,772 25,721 Computer and office equipment 5 years 11,334 10,810 Furniture & fixtures 5 years 2,269 — Less: Accumulated depreciation and amortization (4,782 ) — Property & Equipment, net $ 13,633,639 $ 36,531

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	11 . Mr. Brad Juneau, who served as the Company’s Chairman, President and Chief Executive Officer January 6, 2020, January 6, 2020, December 11, 2020, November 20, 2019. one December 1, 2020 December 1, 2021 ninety third The Company entered into Stock Purchase Agreements dated as of June 14, June 17, 2021 2021 2021 June 17 18, 2021. 2021 2021 2021 June 17, 2021, not 2021 June 18, 2021. On September 23, 2020, 2020 September 23, 2020, 2020 may may 2020 On September 30, 2020, September 29, 2020, “2% 2% 3.0%. 3.0% 3.0% In addition, on September 29, 2020, 1.0% The Company will be required to fund any royalty payments the Peak Gold JV is obligated to make to Royal Gold under the JV Royalty Agreement in proportion to its membership interests in the Peak Gold JV. The Company’s proportionate share of the additional royalty granted to Royal Gold pursuant to the JV Royalty Agreement has been partially offset by a cash payment of $1.2 million to the Company, designated as a reimbursement prepayment by Kinross for the Company’s estimated proportionate share of the additional silver royalty, in proportion to Company’s membership interest in the Peak Gold JV after the consummation of the transactions described above. On April 16, 2018, 13D 13D June 29, 2018, October 4, 2018, January 22, 2019, August 2, 2019, September 30, 2020. September 30, 2020, 1.

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	12. On September 15, 2010, “2010 November 14, 2017, 2010 2010 may September 15, 2027; ’s tax withholding obligations with respect to grants paid in Company Stock. On November 13, 2019, may 500,000 Under the Equity Plan, the Board may may On December 11, 2020, may As of September 30, 2021, three September 30, 2021 and 2020 The amount of compensation expense recognized does not may Restricted Stock. November 2019, January 2022. September 30, 2021, In connection with the appointment of Rick Van Nieuwenhuyse as the President and Chief Executive Officer of the Company, on January 9, 2020, two first second January 6, 2021. September 30, 2021, On December 1, 2020, two three December 11, 2020, 2022 January 2023. On December 11, 2020 the Company also granted Mr. Van Nieuwenhuyse 23,333 September 30, 2021, all 205,833 December 2020 On August 16, 2021, three As of September 30, 2021 , the total compensation cost related to unvested awards not Stock options. January 6, 2020, January 6, 2020, two first second There were no stock option exercises during the three September 30, 2021 . There were also no The Company applies the fair value method to account for stock option expense. Under this method, cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess 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. September 30, 2021, not September 30, 2021 A summary of the status of stock options granted under the Equity Plan as of September 30, 2021 three Three Months Ended September 30, 2021 Shares Under Options Weighted Average Exercise Price Outstanding as of June 30, 2021 100,000 $ 14.50 Granted — Exercised — Forfeited — Outstanding at the end of the period 100,000 $ 14.50 Aggregate intrinsic value $ 525,000 Exercisable, end of the period 50,000 Aggregate intrinsic value $ 262,500 Available for grant, end of period 250,927 Weighted average fair value per share of options granted during the period $ —

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	13. Tetlin Lease . The Tetlin Lease had an initial ten-year term beginning July 2008 ten July 15, 2028, Pursuant to the terms of the Tetlin Lease, the Peak Gold JV was required to spend $350,000 per year until July 15, 2018 2011 $350,000 3 .0% 2 .25% $450,000. 0.75% on December 30, 2020. $450,000 not July 15, 2012, Gold Exploration. The Company’s Triple Z, Eagle/Hona, Shamrock, Willow, and Lucky Shot claims are all located on State of Alaska lands. The Company released its Bush and West Fork claims in November 2020. November 30 2021 2022 $478,650 2021. 1 31 year. As of September 30, 2021, four years, which is the maximum period allowable by Alaska law. The Company obtained 100% Lucky Shot Acquisition two first 1 2 second 1 2 30 thirty 36 Royal Gold Royalties . Initially, the Peak Gold JV was obligated to pay Royal Gold (i) an overriding royalty of 3.0% should the Peak Gold JV derive revenues from the Tetlin Lease, the Additional Properties and certain other properties and (ii) an overriding royalty of 2.0% should the Peak Gold JV derive revenues from certain other properties. In conjunction with the Separation Agreement (described in Note 1 Retention Agreements. February 2019, one February 6, 2020, August 6, 2020 August 6, 2025. August 6, 2025. June 10, 2020, August 6, 2025, Short Term Incentive Plan June 10, 2020, two first second may not December 2020, January 1, 2022.

Note 14 - Income Taxes

Note 14 - Income Taxes	3 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. The Company recognized a full valuation allowance on its deferred tax asset as of September 30, 2021 June 30, 2021 three September 30, 2021. three September 30, 2020. three September 30, 2020 three September 30, 2021 September 30, 2020, no not June 30, 2022. not The Company reviews its tax positions quarterly for tax uncertainties. The Company did not September 30, 2021 June 30, 2021. On December 22, 2017, 35.0% 21.0%, The Company has assessed the impact of the tax bill on the financial statements as of September 30, 2021. On March 27, 2020, 19 163 80%

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash. three September 30, 2021, June 30, 2021.
Use of Estimates, Policy [Policy Text Block]	Management Estimates. The preparation of consolidated financial statements in conformity with US 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates .
Share-based Payment Arrangement [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
Equity Method Investments [Policy Text Block]	Investment in the Peak Gold JV. September 30, 2021 one three September 30, 2021 June 30, 2021 zero
Property, Plant and Equipment, Policy [Policy Text Block]	Property & Equipment may not September 30, 2021 2020. no no no
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurement. three one three The three Level 1 Level 2 not Level 3 no The Company received 809,744 shares of its Common Stock as part of the consideration received for the sale of a portion of its membership interest in the Peak Gold JV (See Note 8 30.0% 3
Business Combinations Policy [Policy Text Block]	Business Combinations. first not not not not not The Company purchased 100% of the outstanding membership interests of AGT in August 2021 ( 9
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements. In February 2016, 2016 02, Leases (Topic 842 , which requires recognition of right-of-use assets and lease payment liabilities on the balanc twelve 2016 02 July 2019. two In January 2020, 2020 01, Investments—Equity Securities (Topic 321 323 815 the interaction between the three December 15, 2020, not The Company has evaluated all other recent acco unting pronouncements and believes that none .

Note 4 - Investment in the Pe_2

Note 4 - Investment in the Peak Gold JV (Tables)	3 Months Ended
	Sep. 30, 2021
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 $ — Investment in Peak Gold, LLC 2,580,000 Loss from equity investment in Peak Gold, LLC (2,580,000 ) Investment balance as June 30, 2018 $ — Investment in Peak Gold, LLC 4,140,000 Loss from equity investment in Peak Gold, LLC (4,140,000 ) Investment balance at June 30, 2019 $ — Investment in Peak Gold, LLC 3,720,000 Loss from equity investment in Peak Gold, LLC (3,720,000 ) Investment balance at June 30, 2020 $ — Investment in Peak Gold, LLC 3,861,252 Loss from equity investment in Peak Gold, LLC (3,861,252 ) Investment balance at June 30, 2021 $ — Investment in Peak Gold, LLC 1,445,000 Loss from equity investment in Peak Gold, LLC (1,445,000 ) Investment balance at September 30, 2021 $ —
The Joint Venture Company [Member]
Notes Tables
Summarized Income Statement of Equity Method Investment [Table Text Block]	Three Months Ended Three Months Ended Period from Inception January 8, 2015 to September 30, 2021 September 30, 2020 September 30, 2021 EXPENSES: Exploration expense $ 3,056,104 $ 299,127 $ 51,932,867 General and administrative 305,057 291,921 11,296,063 Total expenses 3,361,161 591,048 63,228,930 NET LOSS $ 3,361,161 $ 591,048 $ 63,228,930

Note 6 - Net Income (Loss) Pe_2

Note 6 - Net Income (Loss) Per Share (Tables)	3 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, 2021 2020 Net Loss Weighted Average Shares Loss Per Share Net Income Weighted Average Shares Income Per Share Basic Net Income/(Loss) per Share: Net loss attributable to common stock $ (4,572,213 ) 6,680,637 $ (0.68 ) $ 33,442,625 6,576,049 $ 5.09 Diluted Net Income/(Loss) per Share: Net loss attributable to common stock $ (4,572,213 ) 6,680,637 $ (0.68 ) $ 33,442,625 6,576,049 $ 5.09

Note 10 - Property & Equipment

Note 10 - Property & Equipment (Tables)	3 Months Ended
	Sep. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Asset Type Estimated Useful Life September 30, 2021 June 30, 2021 Mineral properties N/A - Units of Production $ 11,697,614 $ — Land Not Depreciated 87,714 — Buildings and improvements 20-39 years 1,455,159 — Machinery and equipment 3 - 10 years 287,559 — Vehicles 5 years 96,772 25,721 Computer and office equipment 5 years 11,334 10,810 Furniture & fixtures 5 years 2,269 — Less: Accumulated depreciation and amortization (4,782 ) — Property & Equipment, net $ 13,633,639 $ 36,531

Note 12 - Stock-based Compens_2

Note 12 - Stock-based Compensation (Tables)	3 Months Ended
	Sep. 30, 2021
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Three Months Ended September 30, 2021 Shares Under Options Weighted Average Exercise Price Outstanding as of June 30, 2021 100,000 $ 14.50 Granted — Exercised — Forfeited — Outstanding at the end of the period 100,000 $ 14.50 Aggregate intrinsic value $ 525,000 Exercisable, end of the period 50,000 Aggregate intrinsic value $ 262,500 Available for grant, end of period 250,927 Weighted average fair value per share of options granted during the period $ —

Note 1 - Organization and Bus_2

Note 1 - Organization and Business (Details Textual) $ in Millions	Jun. 22, 2021USD ($)	Dec. 10, 2020USD ($)	Sep. 30, 2021USD ($)a	Dec. 31, 2020USD ($)	Oct. 01, 2020	Sep. 30, 2020	Sep. 29, 2020
The Joint Venture Company [Member] | State of Alaska Mining Claims for Exploration and Development [Member]
Area of Land (Acre)			13,000
Contango Minerals [Member] | State of Alaska Mining Claims Located North and Northwest of Tetlin Lease [Member]
Area of Land (Acre)			215,800
Contango Minerals [Member] | State of Alaska Mining Claims Located Near Eagle/Hona Property [Member]
Area of Land (Acre)			139,100
Contango Minerals [Member] | State of Alaska Mining Claims Located Near Triple Z Property [Member]
Area of Land (Acre)			14,800
Contango Minerals [Member] | State of Alaska Mining Claims Located in Richardson District [Member]
Area of Land (Acre)			52,700
Contango Minerals [Member] | State of Alaska Mining Claims Located North and East of Lucky Shot Property [Member]
Area of Land (Acre)			9,200
Tetlin Lease [Member] | The Joint Venture Company [Member]
Area of Land (Acre)			675,000
Alaska Hard Rock Lease [Member] | Alaska Gold Torrent, LLC [Member]
Area of Land (Acre)			8,600
The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage			30.00%	30.00%		30.00%	30.00%
Expected Cash Needed | $		$ 18
Exploration Budget Increase (Decrease) | $	$ 0.2
Updated Budget | $			$ 18.3
Proportionate Ownership Share, Approved Budget | $			5.5
Exploration Budget, Funded Amount | $			$ 3.9
Exploration Budget, Total | $				$ 3
The Joint Venture Company [Member] | KG Mining [Member]
Equity Method Investment, Ownership Percentage by Other Owner			70.00%			70.00%
The Joint Venture Company [Member] | Triple Z [Member]
Prospect Area Ownership Percentage				100.00%
The Joint Venture Company [Member] | CORE Alaska [Member]
Equity Method Investment, Ownership Percentage						30.00%
Percentage Ownership in Company					30.00%
The Joint Venture Company [Member] | KG Mining [Member]
Percentage Ownership in Company					70.00%
The Joint Venture Company [Member] | Royal Alaska LLC [Member]
Equity Method Investment, Ownership Percentage						40.00%
Royal Alaska LLC [Member] | KG Mining [Member]
Percentage Ownership in Company						100.00%

Note 3 - Summary of Significa_2

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	9 Months Ended		15 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Aug. 24, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2014
Restricted Cash, Current	$ 231,000		$ 231,000		$ 0
Equity Method Investments	0		$ 0		0
Impairment, Long-Lived Asset, Held-for-Use, Total	$ 0	$ 0
Alaska Gold Torrent [Member]
Asset Acquisition Percentage of Interests Acquired				100.00%
The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage	30.00%	30.00%	30.00%			30.00%	30.00%
Equity Method Investments	$ 0	$ 0	$ 0		$ 0			$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Common Stock Received for Sale of Joint Venture Interest (in shares)			809,744

Note 4 - Investment in the Pe_3

Note 4 - Investment in the Peak Gold JV (Details Textual) - USD ($)	3 Months Ended		81 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Jan. 08, 2015	Jun. 30, 2014
Equity Method Investment, Aggregate Cost	$ 17,200,000		$ 17,200,000	$ 17,200,000
Equity Method Investments	0		0	0	$ 0
Suspended Losses			22,600,000
The Joint Venture Company [Member]
Equity Method Investment, Aggregate Cost	$ 17,200,000		$ 17,200,000	17,200,000										$ 1,400,000
Equity Method Investment, Total Contributions				$ 17,200,000
Equity Method Investment, Ownership Percentage	30.00%	30.00%	30.00%	30.00%		30.00%	30.00%
Loss from Equity Method Investments, Unrecorded	$ 1,000,000	$ 400,000
Equity Method Investment, Summarized Financial Information, Inception-to-date Cumulative Income (Loss)	39,800,000		$ 39,800,000	$ 39,800,000	38,700,000
Equity Method Investments	$ 0	$ 0	$ 0	$ 0	$ 0			$ 0	$ 0	$ 0	$ 0	$ 0	$ 0		$ 0
The Joint Venture Company [Member] | KG Mining [Member]
Equity Method Investment, Ownership Percentage by Other Owner	70.00%	70.00%	70.00%	70.00%

Note 4 - Investment in the Pe_4

Note 4 - Investment in the Peak Gold JV - Roll-forward of Investment in the Joint Venture Company (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015
Investment balance	$ 0
Investment in Peak Gold, LLC	1,445,000	$ 247,800
Loss from equity investment in Peak Gold, LLC	(1,445,000)	(247,800)
The Joint Venture Company [Member]
Investment balance	0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Investment in Peak Gold, LLC	1,445,000		3,861,252	3,720,000	4,140,000	2,580,000	0	0	1,433,886
Loss from equity investment in Peak Gold, LLC	$ (1,445,000)		$ (3,861,252)	$ (3,720,000)	$ (4,140,000)	$ (2,580,000)	$ 0	$ 0	$ (1,433,886)

Note 4 - Investment in the Pe_5

Note 4 - Investment in the Peak Gold JV - Condensed Results of Operations for Peak Gold, LLC (Details) - USD ($)	3 Months Ended		81 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021
Exploration expense	$ 946,245	$ 0
General and administrative	1,970,269	3,524,992
Total expenses	3,071,106	3,545,820
The Joint Venture Company [Member]
Exploration expense	3,056,104	299,127	$ 51,932,867
General and administrative	305,057	291,921	11,296,063
Total expenses	3,361,161	591,048	63,228,930
NET LOSS	$ 3,361,161	$ 591,048	$ 63,228,930

Note 5 - Prepaid Expenses and_2

Note 5 - Prepaid Expenses and Other Assets (Details Textual) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Prepaid Expense, Current, Total	$ 561,789	$ 515,635
Capitalized Legal Fee	$ 381,889

Note 6 - Net Income (Loss) Pe_3

Note 6 - Net Income (Loss) Per Share (Details Textual) - shares	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Dec. 11, 2020	Sep. 30, 2020	Nov. 13, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	100,000	100,000	300,000		100,000
Class of Warrant or Right, Outstanding (in shares)	0			0
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	100,000	100,000

Note 6 - Net Income (Loss) Pe_4

Note 6 - Net Income (Loss) Per Share - Reconciliation of the Components of Basic and Diluted Net Loss Per Share (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Net loss attributable to common stock	$ (4,572,213)	$ 33,442,625
Weighted Average Shares, basic (in shares)	6,680,637	6,576,049
Income Per Share, basic (in dollars per share)	$ (0.68)	$ 5.09
Weighted Average Shares, diluted (in shares)	6,680,637	6,576,049
Income Per Share, diluted (in dollars per share)	$ (0.68)	$ 5.09

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Details Textual) - USD ($)	Jun. 18, 2021	Oct. 05, 2020	Sep. 30, 2020	Sep. 23, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 11, 2020	Sep. 14, 2020	Nov. 13, 2019
Common Stock, Shares Authorized (in shares)			30,000,000		45,000,000	30,000,000	45,000,000	45,000,000
Preferred Stock, Shares Authorized (in shares)					15,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)					6,685,746		6,675,746
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)					100,000		100,000	300,000		100,000
Preferred Stock, Shares Issued, Total (in shares)					0
Proceeds from Issuance of Common Stock, Net					$ (43,560)	$ 3,165,622
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01			$ 0.01		$ 0.01
Rights Agreement Term (Year)		1 year
Rights Agreement, Number of Preferred Stock Issuable Per Right (in shares)		0.001
Rights Agreement, Exercise Price (in dollars per share)		$ 100
Rights to Purchase Series A Junior Preferred Stock [Member]
Class of Warrant or Right, Distributed for Each Share of Common Stock (in shares)									1
Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues (in shares)				75,472
Stock Issued During Period, Value, New Issues				$ 1,000,000
Person or Group [Member]
Rights Agreement, Beneficial Ownership Percentage of Common Stock,Threshold		18.00%
Certain Passive Investors [Member]
Rights Agreement, Beneficial Ownership Percentage of Common Stock,Threshold		20.00%
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	523,809			247,172
Shares Issued, Price Per Share (in dollars per share)	$ 21			$ 13.25
Proceeds from Issuance of Common Stock	$ 11,000,000
Proceeds from Issuance of Common Stock, Net	$ 10,900,000
Stock Issued During Period, Shares, Treasury Stock Reissued (in shares)				32,874
Proceeds from Issuance of Private Placement				$ 3,300,000
Proceeds from Issuance of Private Placement, Net of Issuance Costs				3,200,000
Payments of Stock Issuance Costs				$ 50,000
Private Placement [Member] | Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues (in shares)	47,619
Stock Issued During Period, Value, New Issues	$ 1,000,000
Private Placement [Member] | Petrie Partners Securities, LLC [Member]
Private Placement Fee, Percentage				3.25%
Payments of Stock Issuance Costs				$ 50,000
Private Placement [Member] | Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues (in shares)	47,619
Stock Issued During Period, Value, New Issues	$ 1,000,000
CORE Alaska [Member] | The Joint Venture Company [Member]
Shares Received From Sale of Equity Method Investments (in shares)			809,744
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)					411,333

Note 8 - Sales Transaction Wi_2

Note 8 - Sales Transaction With Kg Mining (Details Textual)	Sep. 30, 2020USD ($)shares	Sep. 29, 2020a	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)shares	Jun. 30, 2021USD ($)	Dec. 31, 2020	Oct. 01, 2020	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Proceeds from Sale of Equity Method Investments			$ 0	$ 31,200,000
Equity Method Investment, Realized Gain (Loss) on Disposal, Total			0	$ 39,642,857
Equity Method Investments			$ 0		$ 0
The Joint Venture Company [Member]
Equity Method Invesment, Interest Sold, Percent	30.00%
Equity Method Investment, Ownership Percentage	30.00%	30.00%	30.00%	30.00%		30.00%
Equity Method Investment, Realized Gain (Loss) on Disposal, Total	$ 39,600,000
Equity Method Investments	$ 0		$ 0	$ 0	$ 0			$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
The Joint Venture Company [Member] | KG Mining [Member]
Equity Method Investment, Ownership Percentage by Other Owner	70.00%		70.00%	70.00%
CORE Alaska [Member] | The Joint Venture Company [Member]
Equity Method Invesment, Interest Sold, Percent	30.00%
Proceeds from Sale of Equity Method Investments	$ 32,400,000
Shares Received From Sale of Equity Method Investments (in shares) | shares	809,744
Sale of Equity Method Investment, Prepayment of Reimbursement	$ 1,200,000
Percentage Ownership in Company							30.00%
Equity Method Investment, Ownership Percentage	30.00%			30.00%
CORE Alaska [Member] | Contango Minerals [Member]
Percentage Ownership in Company		100.00%
KG Mining [Member] | The Joint Venture Company [Member]
Sale of Equity Method Investment, Prepayment of Reimbursement	$ 1,200,000
Percentage Ownership in Company							70.00%
KG Mining [Member] | Royal Alaska LLC [Member]
Percentage Ownership in Company	100.00%			100.00%
Equity Method Investment, Ownership, Shares (in shares) | shares	809,744			809,744
Royal Alaska LLC [Member] | The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage	40.00%			40.00%
Contango Minerals [Member] | Separation Agreement [Member]
Mining Claims Acquired, Area (Acre) | a		167,000
Net Smelter Returns Royalty Interest, Percent		1.00%
The Joint Venture Company [Member] | Separation Agreement [Member]
Net Smelter Returns Silver Royalty, Percent		28.00%
The Joint Venture Company [Member] | Option Agreement [Member]
Mining Claims, Option to Acquire, Area (Acre) | a		13,000
The Joint Venture Company [Member] | Alaska State Mining Claims [Member] | Separation Agreement [Member]
Net Smelter Returns Royalty Interest, Percent		1.00%
Total Net Smelter Returns Royalty, Percent		3.00%

Note 9 - Acquisition of Lucky_2

Note 9 - Acquisition of Lucky Shot Property (Details Textual)	Aug. 24, 2021USD ($)oz	Sep. 30, 2021
Promissory Note Issued with AGT Acquisition [Member] | Measurement Input, Discount Rate [Member]
Long-term Debt, Measurement Input	10
Alaska Gold Torrent, LLC [Member]
Asset Acquisition, Consideration Transferred, Total	$ 30,000,000
Payments to Acquire Productive Assets, Total	5,100,000
Asset Acquisition, Purchase Price Allocation Working Capital Adjustments	100,000
Asset Acquisition, Acquired Asset Amount	13,500,000
Asset Acquisition, Consideration Transferred, Transaction Cost	300,000
Alaska Gold Torrent, LLC [Member] | Lucky Shot Prospect [Member]
Asset Acquisition, Exploration Expenditures, Requirement, Minimum Amount During 36 Months Period	10,000,000
Alaska Gold Torrent, LLC [Member] | Common Stock [Member]
Asset Acquisition, Contingent Consideration, Liability, Total	$ 1,850,000
Alaska Gold Torrent, LLC [Member] | Production Threshold, One [Member]
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz	500,000
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz	30,000
Gold to Silver Ratio		1:65
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 5,000,000
Alaska Gold Torrent, LLC [Member] | Production Threshold, One [Member] | Common Stock [Member]
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable	$ 3,750,000
Alaska Gold Torrent, LLC [Member] | Production Threshold, Two [Member]
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz	1,000,000
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz	60,000
Gold to Silver Ratio		1:65
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 5,000,000
Alaska Gold Torrent, LLC [Member] | Production Threshold, Two [Member] | Common Stock [Member]
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable	5,000,000
Alaska Gold Torrent, LLC [Member] | Promissory Note Issued with AGT Acquisition [Member]
Asset Acquisition, Consideration Transferred, Liabilities Incurred	$ 6,250,000

Note 10 - Property & Equipmen_2

Note 10 - Property & Equipment - Fixed Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Less: Accumulated depreciation and amortization	$ (4,782)
Property & Equipment, net	13,633,639	36,531
Mining Properties and Mineral Rights [Member]
Property, plant and equipment, gross	11,697,614	0
Land [Member]
Property, plant and equipment, gross	87,714	0
Building and Building Improvements [Member]
Property, plant and equipment, gross	$ 1,455,159	0
Building and Building Improvements [Member] | Minimum [Member]
Estimated useful life (Year)	20 years
Building and Building Improvements [Member] | Maximum [Member]
Estimated useful life (Year)	39 years
Machinery and Equipment [Member]
Property, plant and equipment, gross	$ 287,559	0
Machinery and Equipment [Member] | Minimum [Member]
Estimated useful life (Year)	3 years
Machinery and Equipment [Member] | Maximum [Member]
Estimated useful life (Year)	10 years
Vehicles [Member]
Property, plant and equipment, gross	$ 96,772	25,721
Estimated useful life (Year)	5 years
Computer and Office Equipment [Member]
Property, plant and equipment, gross	$ 11,334	10,810
Estimated useful life (Year)	5 years
Furniture and Fixtures [Member]
Property, plant and equipment, gross	$ 2,269	$ 0
Estimated useful life (Year)	5 years

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) - USD ($)	Jun. 18, 2021	Sep. 30, 2020	Sep. 29, 2020	Sep. 23, 2020	Nov. 20, 2019	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Apr. 16, 2018
Proceeds from Issuance of Common Stock, Net						$ (43,560)	$ 3,165,622
Contango Minerals [Member] | Contango Minerals Royalty Agreement [Member]
Overriding Royalty Interest			2.00%
Contango Minerals [Member] | Contango Minerals Royalty Agreement [Member] | ALASKA
Overriding Royalty Interest			3.00%
Net Smelter Returns Royalty Interest, Percent			1.00%
Contango Minerals [Member] | Separation Agreement [Member]
Net Smelter Returns Royalty Interest, Percent			1.00%
The Joint Venture Company [Member] | Separation Agreement [Member]
Net Smelter Returns Silver Royalty, Percent			28.00%
Royal Gold [Member]
Percentage of Issued and Outstanding Shares of Common Stock		0.00%	11.90%
The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage		30.00%	30.00%			30.00%	30.00%	30.00%
The Joint Venture Company [Member] | KG Mining [Member]
Sale of Equity Method Investment, Prepayment of Reimbursement		$ 1,200,000
Royal Alaska LLC [Member] | KG Mining [Member]
Equity Method Investment, Ownership, Shares (in shares)		809,744					809,744
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	523,809			247,172
Shares Issued, Price Per Share (in dollars per share)	$ 21			$ 13.25
Proceeds from Issuance of Common Stock	$ 11,000,000
Proceeds from Issuance of Common Stock, Net	$ 10,900,000
Stock Issued During Period, Shares, Treasury Stock Reissued (in shares)				32,874
Proceeds from Issuance of Private Placement				$ 3,300,000
Proceeds from Issuance of Private Placement, Net of Issuance Costs				3,200,000
Payments of Stock Issuance Costs				$ 50,000
Private Placement [Member] | Petrie Partners Securities, LLC [Member]
Private Placement Fee, Percentage				3.25%
Payments of Stock Issuance Costs				$ 50,000
JEX [Member]
Management Services Agreement, Fee Per Month					$ 10,000
JEX [Member] | Expense for Office Space and Equipment [Member]
Management Services Agreement, Fee Per Month					$ 6,900
Chief Executive Officer [Member]
Stock Issued During Period, Shares, New Issues (in shares)				75,472
Stock Issued During Period, Value, New Issues				$ 1,000,000
Percentage of Ownership Interest Acquired by Related Party				2.20%
Chief Executive Officer [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	47,619
Stock Issued During Period, Value, New Issues	$ 1,000,000
Kinross [Member] | The Joint Venture Company [Member]
Equity Method Investment, Ownership Percentage by Other Owner		70.00%					70.00%
Royal Gold [Member] | Common Stock [Member]
Shares Issued, Price Per Share (in dollars per share)									$ 26
Percentage of Ownership Interest Acquired by Related Party									13.60%

Note 12 - Stock-based Compens_3

Note 12 - Stock-based Compensation (Details Textual) - USD ($)	Aug. 16, 2021	Jan. 06, 2021	Dec. 11, 2020	Dec. 01, 2020	Jan. 09, 2020	Jan. 06, 2020	Nov. 14, 2017	Dec. 31, 2020	Nov. 30, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Jun. 30, 2021	Nov. 13, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			300,000							100,000		100,000	100,000	100,000
Share-based Payment Arrangement, Expense										$ 1,021,851	$ 892,158
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount										$ 2,696,215		$ 2,696,215
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)										3 years 3 months 7 days
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount										$ 99,339		$ 99,339
Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	10,000
President and CEO [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)						$ 14.50
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)										411,333		411,333
The 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)							500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)														2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)								100,000		100,000		100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)												0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)										0	0	0
The 2010 Plan [Member] | Restricted Stock [Member] | Executives and Non-executive Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)										158,000		158,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			162,500						158,000
The 2010 Plan [Member] | Restricted Stock [Member] | President and Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)										37,500		37,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					75,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					2 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)		37,500
The 2010 Plan [Member] | Restricted Stock [Member] | Two Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				20,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
The 2010 Plan [Member] | Restricted Stock [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)										205,833		205,833
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			23,333					23,333

Note 12 - Stock-based Compens_4

Note 12 - Stock-based Compensation - Summary of Stock Options (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021
Outstanding balance (in shares)	100,000
Outstanding balance (in shares)	100,000		100,000
The 2010 Plan [Member]
Outstanding balance (in shares)			100,000
Outstanding, weighted average exercise price (in dollars per share)			$ 14.50
Granted (in shares)			0
Exercised (in shares)	0	0	0
Forfeited (in shares)			0
Outstanding balance (in shares)	100,000		100,000
Outstanding, weighted average exercise price (in dollars per share)	$ 14.50		$ 14.50
Aggregate intrinsic value, outstanding	$ 525,000		$ 525,000
Exercisable, end of the period (in shares)	50,000		50,000
Aggregate intrinsic value, exercisable	$ 262,500		$ 262,500
Available for grant, end of period (in shares)	250,927		250,927
Weighted average fair value per share of options granted during the period (in dollars per share)			$ 0

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual)	Aug. 24, 2021USD ($)oz	Dec. 30, 2020USD ($)	Dec. 11, 2020shares	Jun. 10, 2020USD ($)	Jul. 15, 2012USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)shares	Jul. 31, 2008USD ($)	Sep. 30, 2021USD ($)	Feb. 06, 2020USD ($)	Feb. 28, 2019USD ($)
Contingent Salary and Compensation, Retention Agreement											$ 1,500,000
Chief Executive Officer [Member]
Contingent Salary and Compensation, Retention Agreement				$ 350,000						$ 1,000,000
Short Term Incentive Plan, Minimum Performance Target, Payout, Percentage of Base Salary				25.00%
Short Term Incentive Plan, All Performance Goals, Payout, Percentage of Base Salary				100.00%
Short Term Incentive Plan, Maximum Performance Target, Payout, Percentage of Base Salary				200.00%
Short Term Incentive Plan, Payout, Percentage Cash				50.00%
Short Term Incentive Plan, Payout, Percentage Restricted Stock				50.00%
Short Term Incentive Plan, Change of Control, Percentage of Base Salary				200.00%
Short Term Incentive Plan, Change of Control, Maximum Period of Payment (Day)				30 days
Short-term Incentive Plan, Compensation Expense, Cash Bonus							$ 350,000
Chief Executive Officer [Member] | Restricted Stock [Member] | The 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares			23,333				23,333
Chief Executive Officer [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				1 year
Chief Executive Officer [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				2 years
Chief Financial Officer [Member]
Contingent Salary and Compensation, Retention Agreement										$ 250,000
Production Threshold, One [Member] | Alaska Gold Torrent, LLC [Member]
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz	500,000
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz	30,000
Gold to Silver Ratio						1:65
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 5,000,000
Production Threshold, One [Member] | Alaska Gold Torrent, LLC [Member] | Common Stock [Member]
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable	$ 3,750,000
Production Threshold, Two [Member] | Alaska Gold Torrent, LLC [Member]
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Mineral Resource (Ounce) | oz	1,000,000
Asset Acquisition, Contingent Consideration Arrangements, Production Threshold, Output, Gold (Ounce) | oz	60,000
Gold to Silver Ratio						1:65
Asset Acquisition, Consideration Transferred, Contingent Consideration	$ 5,000,000
Production Threshold, Two [Member] | Alaska Gold Torrent, LLC [Member] | Common Stock [Member]
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable	5,000,000
Tetlin Lease [Member]
Inception-to-date Payments to Reduce Royalty Rate						$ 225,000			$ 225,000
Decrease in Royalty Rates						0.75%			0.75%
Tetlin Lease [Member] | Scenario 1 [Member]
Increase in Royalty Rates						0.25%			0.25%
Payment that Lessor May Pay to Lessee to Increase Royalty Rate									$ 150,000
Tetlin Lease [Member] | Scenario 2 [Member]
Increase in Royalty Rates						0.50%			0.50%
Payment that Lessor May Pay to Lessee to Increase Royalty Rate									$ 300,000
Tetlin Lease [Member] | Scenario 3 [Member]
Increase in Royalty Rates						0.75%			0.75%
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						2.25%		3.00%	2.25%
Tetlin Lease [Member] | The Joint Venture Company [Member] | Maximum [Member]
Royalty Rate						4.25%		5.00%	4.25%
Tetlin Lease and Certain Other Properties [Member]
Annual Claim Rentals						$ 478,650			$ 478,650
Tetlin Lease and Certain Other Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member]
Overriding Royalty Interest						3.00%			3.00%
Lucky Shot Prospect [Member] | Alaska Gold Torrent, LLC [Member]
Asset Acquisition, Exploration Expenditures, Requirement, Minimum Amount During 36 Months Period	$ 10,000,000
Additional Properties [Member] | The Joint Venture Company [Member] | Royal Gold [Member]
Overriding Royalty Interest						2.00%			2.00%
Net Smelter Returns Silver Royalty, Percent						28.00%			28.00%
Net Smelter Returns Royalty Interest, Percent						1.00%			1.00%

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Expense (Benefit), Total	$ 0	$ 2,406,826
Current Federal Tax Expense (Benefit)		$ 1,800,000
Effective Income Tax Rate Reconciliation, Percent, Total	0.00%	6.71%
Alaska Department of Revenue [Member]
Current State and Local Tax Expense (Benefit)		$ 600,000