Paramount Gold Nevada (PZG) 10-Q 12 May 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2023	May 10, 2023
Cover [Abstract]
Entity Registrant Name	PARAMOUNT GOLD NEVADA CORP.
Entity Central Index Key	0001629210
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Trading Symbol	PZG
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-36908
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSEAMER
Entity Tax Identification Number	98-0138393
Entity Address, Address Line One	665 Anderson Street
Entity Address, City or Town	Winnemucca
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89445
City Area Code	775
Local Phone Number	625-3600
Entity Incorporation, State or Country Code	NV
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock Shares Outstanding		49,922,401

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Current Assets
Cash and cash equivalents	$ 590,505	$ 2,484,156
Prepaid expenses and deposits	590,742	1,280,895
Total Current Assets	1,181,247	3,765,051
Non-Current Assets
Mineral properties	51,822,873	51,742,873
Reclamation bond	499,476	498,276
Property and equipment	5,060	6,513
Total Non-Current Assets	52,327,409	52,247,662
Total Assets	53,508,656	56,012,713
Current Liabilities
Accounts payable and accrued liabilities	657,324	638,256
Reclamation and environmental obligation, current portion	3,120,000	120,000
Convertible debt	3,608,719
Convertible debt, related parties	658,363
Notes payable, related party	1,034,521
Total Current Liabilities	9,078,927	758,256
Non-Current Liabilities
Convertible debt		3,570,430
Convertible debt, related parties		651,380
Deferred tax liability	277,627	277,627
Reclamation and environmental obligation, non-current portion	1,599,953	4,355,270
Total Non-Current Liabilities	1,877,580	8,854,707
Total Liabilities	10,956,507	9,612,963
Commitments and Contingencies (Note 12)
Stockholders' Equity
Common stock, par value $0.01, 200,000,000 authorized shares, 49,209,951 issued and outstanding at March 31, 2023 and 200,000,000 authorized shares, 46,591,081 issued and outstanding at June 30, 2022	492,101	465,912
Additional paid in capital	114,851,772	113,805,101
Accumulated deficit	(72,791,724)	(67,871,263)
Total Stockholders' Equity	42,552,149	46,399,750
Total Liabilities and Stockholders' Equity	$ 53,508,656	$ 56,012,713

Condensed Consolidated Interi_2

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01		$ 0.01
Common stock, shares authorized	200,000,000		200,000,000
Common stock, shares issued	49,209,951		46,591,081
Common stock, shares outstanding	49,209,951	46,932,378	46,591,081	40,525,151

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Expenses
Exploration	$ 597,315	$ 549,368	$ 1,902,312	$ 3,714,035
Land holding costs	157,143	163,011	475,341	477,338
Professional fees	12,919	26,510	281,542	92,523
Salaries and benefits	393,219	412,118	961,512	875,596
Directors' compensation	55,366	54,718	113,940	87,836
General and administrative	242,858	210,238	616,396	606,058
Accretion	111,561	45,969	334,683	137,907
Total Expenses	1,570,381	1,461,932	4,685,726	5,991,293
Net Loss before Other Expense	1,570,381	1,461,932	4,685,726	5,991,293
Other Expense (Income)
Other income	(47,123)	(210,672)	(93,406)	(326,971)
Interest and service charges	124,502	95,776	328,141	298,882
Net Loss	$ 1,647,760	$ 1,347,036	$ 4,920,461	$ 5,963,204
Loss per Common Share
Basic	$ 0.03	$ 0.03	$ 0.10	$ 0.15
Diluted	$ 0.03	$ 0.03	$ 0.10	$ 0.15
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	48,452,177	43,601,579	47,457,781	40,947,916
Diluted	48,452,177	43,601,579	47,457,781	40,947,916

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Deficit
Balance at Jun. 30, 2021	$ 47,352,730	$ 381,542	$ 107,005,135	$ (60,033,947)
Balance (in shares) at Jun. 30, 2021		38,154,109
Stock based compensation	42,671		42,671
Capital issued for financing	1,829,551	$ 22,024	1,807,527
Capital issued for financing (in shares)		2,202,352
Capital issued for payment of interest	163,642	$ 1,687	161,955
Capital issued for payment of interest (in shares)		168,690
Net loss	(1,913,745)			(1,913,745)
Balance at Sep. 30, 2021	$ 47,474,849	$ 405,253	109,017,288	(61,947,692)
Balance (in shares) at Sep. 30, 2021	40,525,151
Balance at Jun. 30, 2021	$ 47,352,730	$ 381,542	107,005,135	(60,033,947)
Balance (in shares) at Jun. 30, 2021		38,154,109
Stock based compensation (in shares)	266,000
Net loss	$ (5,963,204)
Balance at Mar. 31, 2022	48,246,901	$ 465,912	113,778,140	(65,997,151)
Balance (in shares) at Mar. 31, 2022		46,591,081
Balance at Sep. 30, 2021	$ 47,474,849	$ 405,253	109,017,288	(61,947,692)
Balance (in shares) at Sep. 30, 2021	40,525,151
Stock based compensation	$ 41,880		41,880
Capital issued for financing	68,924	$ 987	67,937
Capital issued for financing (in shares)		98,706
Net loss	(2,702,423)			(2,702,423)
Balance at Dec. 31, 2021	44,883,230	$ 406,240	109,127,105	(64,650,115)
Balance (in shares) at Dec. 31, 2021		40,623,857
Stock based compensation	$ 234,289	$ 2,660	231,629
Stock based compensation (in shares)	266,000	266,000
Capital issued for financing	$ 4,316,005	$ 54,653	4,261,352
Capital issued for financing (in shares)		5,465,330
Capital issued for payment of interest	160,413	$ 2,359	158,054
Capital issued for payment of interest (in shares)		235,894
Net loss	(1,347,036)			(1,347,036)
Balance at Mar. 31, 2022	48,246,901	$ 465,912	113,778,140	(65,997,151)
Balance (in shares) at Mar. 31, 2022		46,591,081
Balance at Jun. 30, 2022	$ 46,399,750	$ 465,912	113,805,101	(67,871,263)
Balance (in shares) at Jun. 30, 2022	46,591,081	46,591,081
Stock based compensation	$ 117,826		117,826
Capital issued for payment of interest	160,413	$ 3,413	157,000
Capital issued for payment of interest (in shares)		341,297
Net loss	(1,840,216)			(1,840,216)
Balance at Sep. 30, 2022	$ 44,837,773	$ 469,325	114,079,927	(69,711,479)
Balance (in shares) at Sep. 30, 2022	46,932,378
Balance at Jun. 30, 2022	$ 46,399,750	$ 465,912	113,805,101	(67,871,263)
Balance (in shares) at Jun. 30, 2022	46,591,081	46,591,081
Stock based compensation (in shares)	425,500
Net loss	$ (4,920,461)
Balance at Mar. 31, 2023	$ 42,552,149	$ 492,101	114,851,772	(72,791,724)
Balance (in shares) at Mar. 31, 2023	49,209,951	49,209,951
Balance at Sep. 30, 2022	$ 44,837,773	$ 469,325	114,079,927	(69,711,479)
Balance (in shares) at Sep. 30, 2022	46,932,378
Stock based compensation	$ 63,005		63,005
Capital issued for financing	158,513	$ 4,551	153,962
Capital issued for financing (in shares)		455,099
Net loss	(1,432,485)			(1,432,485)
Balance at Dec. 31, 2022	43,626,806	$ 473,876	114,296,894	(71,143,964)
Balance (in shares) at Dec. 31, 2022		47,387,477
Stock based compensation	$ 97,515	$ 4,255	93,260
Stock based compensation (in shares)	425,500	425,500
Capital issued for financing	$ 315,175	$ 9,387	305,788
Capital issued for financing (in shares)		938,658
Capital issued for payment of interest	160,413	$ 4,583	155,830
Capital issued for payment of interest (in shares)		458,316
Net loss	(1,647,760)			(1,647,760)
Balance at Mar. 31, 2023	$ 42,552,149	$ 492,101	$ 114,851,772	$ (72,791,724)
Balance (in shares) at Mar. 31, 2023	49,209,951	49,209,951

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Net Loss			$ (4,920,461)	$ (5,963,204)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation			1,453	1,731
Stock based compensation	$ 93,260	$ 231,629	278,346	318,840
Amortization of debt issuance costs			45,272	45,272
Interest expense			278,706	244,185
Accretion expense	111,561	45,969	334,683	137,907	$ 183,693
Settlement of asset retirement obligations			(90,000)	(33,236)
Change in reclamation bonds accounts			(1,200)	35,427
Effect of changes in operating working capital items:
(Increase)/Decrease in prepaid expenses			690,153	534,378
Increase/(Decrease) in accounts payable			95,709	(158,734)
Cash used in operating activities			(3,287,339)	(4,837,434)
Cash flows from investing activities:
Purchase of mineral properties			(80,000)	(45,000)
Purchase of equipment				(2,723)
Cash used in investing activities			(80,000)	(47,723)
Cash flows from financing activities:
Capital issued for financing, net of share issuance costs			473,688	6,214,480
Proceeds from notes payable, related parties			1,000,000
Cash provided by financing activities			1,473,688	6,214,480
Change in cash during period			(1,893,651)	1,329,323
Cash at beginning of period			2,484,156	3,113,064	3,113,064
Cash at end of period	$ 590,505	$ 4,442,387	$ 590,505	$ 4,442,387	$ 2,484,156

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Paramount Gold Nevada Corp. (the “Company” or “Paramount”), incorporated under Chapter 78 of Nevada Revised Statutes, and its wholly-owned subsidiaries are engaged in the acquisition, exploration and development of precious metal properties. The Company’s wholly owned subsidiaries include New Sleeper Gold LLC, Sleeper Mining Company, LLC, and Calico Resources USA Corp (“Calico”). The Company is in the process of exploring its mineral properties in Nevada and Oregon, United States. The Company’s activities are subject to significant risks and uncertainties, including the risk of failing to secure additional funding to advance its projects and the risks of determining whether these properties contain reserves that are economically recoverable. The Company’s shares of common stock trade on the NYSE American LLC under the symbol “PZG”. Basis of Presentation and Preparation The unaudited condensed consolidated interim financial statements are prepared by management in accordance with accounting principles for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. In the opinion of management, all the normal and recurring adjustments necessary to fairly present the interim financial information set forth herein have been included. The condensed consolidated interim financial statements have been prepared on an accrual basis of accounting, in conformity with U.S. GAAP, are presented in US dollars and follow the same accounting policies and methods of their application as the most recent annual financial statements. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. The condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and related footnotes for the year ended June 30, 2022. Significant Accounting Policies Please see Note 1- Description of Business and Summary of Significant Accounting Policies contained in the 2022 10-K.

Going Concern

Going Concern	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Going Concern	Note 2. Going Concern The Company has not generated any revenues or cash flows from operations to date. As such the Company is subject to all the risks associated with development stage companies. Since inception, the Company has incurred losses and negative cash flows from operating activities which have been funded from the issuance of common stock, convertible notes and the sale of royalties on its mineral properties. The Company does not expect to generate positive cash flows from operating activities in the near future, if at all, until such time it successfully initiates production at its Grassy Mountain Project, including obtaining construction financing, completing the construction of the proposed mine and anticipates incurring operating losses for the foreseeable future. The Condensed Consolidated Financial Statements of the Company have been prepared on a “going concern” basis, which means that the continuation of the Company is presumed even though events and conditions exist that, when considered in aggregate, raise substantial doubt about the Company’s ability to continue as a going concern because it is possible that the Company will be required to adversely change its current business plan or may be unable to meet its obligations as they become due with one year after the date of that these financial statements were issued. Paramount expects to continue to incur losses as a result of costs and expenses related to maintaining its properties and general and administrative expenses. Since 2015, the Company has relied on equity financings, debt financings and sale of royalties to fund its operations and the Company expects to rely on these forms of financing to fund operations into the near future. The Company will also continue to identify ways to reduce its cash expenditures. Paramount’s current business plan requires working capital to fund non-discretionary expenditures for its exploration and development activities on its mineral properties, mineral property holding costs and general and administrative expenses. It requires approximately $ 5.3 million in capital to repay the 2019 convertible notes and the note payable to Seabridge, both of which become due in September 2023. It also requires approximately $ 3.0 million to complete evaporation pond conversions as part of its reclamation and environmental obligations at its Sleeper Gold Project. Subsequent to May 12, 2023, the Company expects to fund operations as follows: • Existing cash on hand and working capital. • The existing at the market ("ATM") program with Cantor Fitzgerald & Co. and Canaccord Genuity LLC. • The existing Note facility with Seabridge • Insurance proceeds to fund reclamation and environmental obligations at its Sleeper Gold Project • Other debt, equity financings or sale of royalties. Historically, we have been successful in accessing capital through equity and debt financing arrangements or by the sale of royalties on its mineral properties, no assurance can be given that additional financing will be available to it in amounts sufficient to meet its needs, or on terms acceptable to the Company. In the event that we are unable to obtain additional capital or financing, our operations, exploration and development activities will be significantly adversely affected. The continuation of the Company as a going concern is dependent on having sufficient capital to maintain our operations and to repay debt which become due in September 2023. In considering our financing plans, our current working capital position and our ability to reduce operating expenses the Company believes there is substantial doubt about its ability to continue as a going concern twelve months after the date that our financial statements are issued.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 3. Fair Value Measurements Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization with the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs that are both significant to the fair value measurement and unobservable. Financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our financial instruments include cash, accounts payable, accrued liabilities, notes payable and convertible debt. Due to their short maturity of our cash, accounts payable, notes payable and accrued liabilities, we believe that their carrying amounts approximate fair value as of March 31, 2023 and 2022. The carrying amount of convertible debt approximates fair value as the interest rate charged represents a market rate of interest.

Non-Cash Transactions

Non-Cash Transactions	9 Months Ended
	Mar. 31, 2023
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 4. Non-Cash Transactions For the nine months ended March 31, 2023, the Company issued 799,613 shares for payment of interest accrued on its outstanding 2019 Convertible Notes with a fair value of $ 320,826 . The Company also issued 425,500 shares of Common stock under its equity compensation plans with a fair value of $ 142,650 . For the nine months ended March 31, 2022, the Company issued 404,584 shares for payment of interest accrued on its outstanding 2019 Convertible Notes with a fair value of $ 324,055 . The Company also issued 266,000 shares of Common stock under its equity compensation plans with a fair value of $ 170,240 .

Capital Stock

Capital Stock	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Capital Stock	Note 5. Capital Stock Authorized Capital Authorized capital stock consists of 200,000,000 common shares with par value of $ 0.01 per common share ( June 30, 2022 – 200,000,000 common shares with par value $ 0.01 per common share). For the three months ended March 31, 2023 , the Company issued 938,658 shares of Common Stock from its ATM program for net proceeds of $ 315,175 and issued 458,316 shares for payment of interest accrued (Note 6) with a fair value of $ 160,413 . The Company also issued 425,500 shares related to awards made under its equity compensation plans. For the three months ended March 31, 2022 , the Company issued 5,465,330 shares of Common Stock from its ATM program for net proceeds of $ 4,316,005 and issued 235,894 shares for payment of interest accrued (Note 6) with a fair value of $ 160,413 . The Company also issued 266,000 shares related to awards made under its equity compensation plans. For the nine months ended March 31, 2023 , the Company issued 799,613 shares for payment of interest accrued (Note 6) with a fair value of $ 320,826 and issued 1,393,667 shares from its ATM program for net proceeds of $ 473,688 . The Company also issued 425,500 shares related to awards made under its equity compensation plans. For the nine months ended March 31, 2022 , the Company issued 404,584 shares for payment of interest accrued (Note 6) with a fair value of $ 324,055 and issued 7,766,388 shares from its ATM for net proceeds of $ 6,214,480 . The Company also issued 266,000 shares related to awards made under its equity compensation plans. Stock Options, Restricted Stock Units and Stock Based Compensation Paramount’s 2015 and 2016 Stock Incentive and Compensation Plans, which are stockholder-approved, permits the grant of stock options, restricted stock units and stock to its employees and directors for up to 3.5 million shares of common stock. Total stock-based compensation for the three months ended March 31, 2023 and 2022 were $ 93,260 and $ 231,629 , respectively. Total stock-based compensation for the nine months ended March 31, 2023 and 2022 were $ 278,346 and $ 318,840 , respectively. Stock Options Stock option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives, employees and directors with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals and other performance conditions. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the Stock Incentive and Compensation Plans). For the three months ended March 31, 2023 , the Company did no t grant stock options (2022 – nil ). For the nine months ended March 31, 2023 , the Company granted 50,000 stock options (2022 - nil ) with an exercise price of $ 0.60 and a term of 5 years . The stock options vested immediately on the date of grant. The fair value for options granted for the nine months ended March 31, 2023 was calculated using the Black-Scholes option valuations method. The weighted average assumptions used were as follows: Nine Months Ended March 31, 2023 Nine Months Ended March 31, 2022 Weighted average risk-free interest rate 2.79 % N/A Weighted-average volatility 58 % N/A Expected dividends 0 N/A Weighted average expected term (years) 5 N/A Weighted average fair value $ 0.19 N/A For the three months ended March 31, 2023, share-based compensation expense relating to service condition options and performance condition options was $ nil and $ 2,856 , respectively (2022 - $ 1,405 and $ 5,462 ). For the nine months ended March 31, 2023, share-based compensation expense relating to service condition options and performance condition options was $ 12,021 and $ 9,689 , respectively (2022 -$ 49,455 and $ 41,962 ). A summary of stock option activity under the Stock Incentive and Compensation Plans as of March 31, 2023 is presented below: Options Options Weighted Price Weighted- Aggregate Value Outstanding at June 30, 2021 1,998,995 $ 1.17 3.31 $ — Granted — — — — Exercised — — — — Forfeited or expired ( 190,000 ) 1.42 1.48 — Outstanding at June 30, 2022 1,808,995 $ 1.14 2.42 $ — Granted 50,000 0.60 4.75 — Exercised — — — — Forfeited or expired ( 303,995 ) 1.40 — — Outstanding at March 31, 2023 1,555,000 $ 1.08 2.11 $ — Exercisable at March 31, 2023 1,096,664 $ 1.08 2.09 $ — A summary of the status of Paramount’s non-vested options as at March 31, 2023 is presented below: Non-vested Options Options Weighted- Grant- Non-vested at June 30, 2021 1,033,998 $ 0.55 Granted — — Vested ( 288,332 ) 0.53 Forfeited or expired ( 88,333 ) 0.73 Non-vested at June 30, 2022 657,333 $ 0.55 Granted 50,000 0.19 Vested ( 95,002 ) 0.28 Forfeited or expired ( 153,995 ) 0.74 Non-vested at March 31, 2023 458,336 $ 0.47 As of March 31, 2023, there was approximately $ 10,204 of unamortized stock-based compensation expense related to non-vested stock options outstanding. The expenses are expected to be recognized over a weighted-average period of 1.18 years. The total fair value of stock based compensation that vested related to outstanding stock options during the three months ended March 31, 2023 and 2022, was $ 16,873 and $ nil , respectively. Restricted Stock Units ("RSUs") RSUs are awards for service and performance which upon vesting and settlement entitle the recipient to receive one common share of the Company's Common Stock for no additional consideration, for each RSU held. For the three months ended March 31, 2023 and 2022 , the Company granted 630,000 and 701,000 respectively. For the three months ended March 31, 2023, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $ 43,896 and $ 28,262 , respectively (2022 - $ nil and $ nil ) For the nine months ended March 31, 2023, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $ 117,116 and $ 116,971 , respectively (2022 -$ nil and $ nil ) A summary of RSUs activity is summarized as follows: Restricted Share Unit Activity Outstanding RSUs Weighted average grant date fair value Outstanding at June 30, 2021 — $ — Granted 701,000 0.65 Vested — — Forfeited — — Outstanding at June 30, 2022 701,000 $ 0.65 Granted 630,000 0.30 Vested 350,500 0.65 Forfeited — — Outstanding at March 31, 2023 980,500 $ 0.43 As of March 31, 2023, there was approximately $ 237,002 of unamortized stock-based compensation expense related to outstanding RSUs. The expenses are expected to be recognized over the remaining weighted-average vesting periods of 1.01 years.

Convertible Debt

Convertible Debt	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Convertible Debt	Note 6. Convertible Debt Debt March 31, 2023 June 30, 2022 Current Non-Current Current Non-Current 2019 Secured Convertible Notes $ 4,277,690 — $ — $ 4,277,690 Less: unamortized discount and issuance costs ( 10,608 ) — — ( 55,880 ) $ 4,267,082 $ — $ — $ 4,221,810 In September 2019, the Company completed a private offering of 5,478 Senior Secured Convertible Notes (“2019 Convertible Notes”) at $ 975 per $ 1,000 face amount due in 2023 . Each 2019 Convertible Note will bear an interest rate of 7.5 % per annum, payable semi-annually . The effective interest rate of the 2019 Convertible Notes is 8.46 %. The principal amount of the 2019 Convertible Notes will be convertible at a price of $ 1.00 per share of Paramount common stock. Unamortized discount and issuance costs of $ 275,883 will be amortized as an additional interest expense over the four year term of the 2019 Convertible Notes. For the nine months ended March 31, 2023 and 2022, the Company amortized $ 45,272 of discount and issuance costs. At any point after the second anniversary of the issuance of the convertible notes, Paramount may force conversion if the share price of its common stock remains above $ 1.75 for 20 consecutive trading days. The convertible notes are secured by a lien on all assets of the Company and the Company is required to maintain a cash balance of $ 250,000 . At March 31, 2023 , excluding the current 2019 Secured Convertible Notes, the cash covenant was met by the Company. During the three and nine months ended March 31, 2023 , there were no conversions of 2019 Convertible Notes to common stock of the Company. As of March 31, 2023, there were 4,278 (2022 - 4278 ) notes outstanding of which 660 (2022 - 660 ) were held by related parties. Related parties consisted of a director of the Company and an affiliated shareholder Seabridge Gold Inc. ("Seabridge").

Notes Payable, Related Party

Notes Payable, Related Party	9 Months Ended
	Mar. 31, 2023
Notes Payable [Abstract]
Notes Payable, Related Party	Note 7. Notes Payable, Related Party On December 9, 2022, the Company issued a Bridge Promissory Note (the "Note") to Seabridge, an entity affiliated with the Chairman of our Board of Directors, Rudi Fronk, and an owner of approximately 5.5 % of our outstanding common stock, pursuant to which the Company may borrow, in one or more advances, the principal amount of up to $ 1,500,000 (the "Loan"). The Loan bears interest at a per annum rate of 12 %, payable upon maturity or prepayment, and matures on September 30, 2023 . The Company has the right to prepay the Loan, in whole or in part, at any time without penalty. At March 31, 2023, the balance of the loan including accrued interest was $ 1,034,521 .

Mineral Properties

Mineral Properties	9 Months Ended
	Mar. 31, 2023
Mineral Industries Disclosures [Abstract]
Mineral Properties	Note 8. Mineral Properties The Company has capitalized acquisition costs on mineral properties as follows: March 31, 2023 June 30, 2022 Sleeper and other Nevada based Projects $ 28,537,145 $ 28,507,145 Grassy Mountain and other Oregon based Projects 23,285,728 23,235,728 $ 51,822,873 $ 51,742,873 Sleeper: Sleeper is located in Humboldt County, Nevada, approximately 26 miles northwest of the town of Winnemucca. Grassy Mountain: The Grassy Mountain Project is located in Malheur County, Oregon, approximately 22 miles south of Vale, Oregon, and roughly 70 miles west of Boise, Idaho. Other Oregon Based Projects During the nine month period ended March 31, 2023, the Company made a payment to Nevada Select Royalty Inc. ("Nevada Select") in the amount of $ 50,000 on the anniversary date of receiving a drill permit for the Frost Project. See Note 12 for a description of the Frost Project. Other Nevada Based Projects During the nine month period ended March 31, 2023, the Company made a payment to Nevada Select in the amount of $ 30,000 after Paramount received a permit to drill the Bald Peak claims from the US Forestry Service. See Note 12 for a description of the Bald Peak claims. Impairment of Mineral Properties The Company reviews and evaluates its long-lived assets for impairment on an annual basis or more frequently when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. For the nine months ended March 31, 2023 and 2022, no events or changes in circumstance are believed to have impacted recoverability of the Company’s long-lived assets. Accordingly, it was determined that no interim impairment was necessary.

Reclamation and Environmental

Reclamation and Environmental	9 Months Ended
	Mar. 31, 2023
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental	Note 9. Reclamation and Environmental Reclamation and environmental costs are based principally on legal requirements. Management estimates costs associated with reclamation of mineral properties and properties under mine closure. On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions. The Company has posted several cash bonds as financial security to satisfy reclamation requirements. The balance of posted cash reclamation bonds at March 31, 2023 is $ 499,476 ( June 30, 2022 - $ 498,276 ). Paramount is responsible for managing the reclamation activities from the previous mine operations at the Sleeper Gold Mine as directed by the Bureau of Land Management ("BLM") and the Nevada State Department of Environmental Protection (“NDEP”). Paramount has estimated the undiscounted reclamation costs for existing disturbances at the Sleeper Gold Project required by the BLM to be $ 3,639,771 . These costs are expected to be incurred between the calendar years 2023 and 2060. Paramount has also estimated undiscounted reclamation cost as required by the NDEP to be $ 5,280,000 . These costs include on-going monitoring and new requests from the NDEP to convert three processing ponds from the historical operations to evaporation cell ponds ("E-Cell") by the 2nd half of calendar year 2023. On-going monitoring costs are expected to be incurred between 2023 and 2039. The sum of expected costs by year are discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement to the time it incurs the obligation. The reclamation and environmental costs for the Sleeper Gold Project recorded on the balance sheet are equal to the present value of the estimated reclamation costs as required by both the BLM and NDEP. The following variables were used in the calculation for the periods ending March 31, 2023 and June 30, 2022: Nine Months Ended Year Ended June 30, 2022 Weighted-average credit adjusted risk free rate 9.94 % 9.94 % Weighted-average inflation rate 2.32 % 2.32 % Changes to the Company’s reclamation and environmental costs for the Sleeper Gold Mine for the nine-month period ended March 31, 2023 and the year ended June 30, 2022 are as follows: Nine Months Ended Year Ended June 30, 2022 Balance at beginning of period $ 4,475,270 $ 1,849,644 Accretion expense 334,683 183,693 Additions and change in estimates — 2,475,169 Settlements ( 90,000 ) ( 33,236 ) Balance at end of period $ 4,719,953 $ 4,475,270 The balance of the reclamation and environmental obligation of $ 4,719,953 at March 31, 2023 (June 30, 2022 - $ 4,475,270 ) is comprised of a current portion of $ 3,120,000 (June 30, 2022 -$ 120,000 ) and a non-current portion of $ 1,599,953 (June 30, 2022 - $ 4,355,270 ). During the period ended March 31, 2023, the Company, reallocated $ 3,000,000 from the non-current portion of the reclamation and environmental obligation to the current portion to reflect the requirement from NDEP to complete E-Cell conversions within the next twelve months. The Company recorded an accretion expense for the three and nine-month period ended March 31, 2023 of $ 111,561 and $ 334,683 , respectively (2022 - $ 45,969 and $ 137,907 ).

Other Income

Other Income	9 Months Ended
	Mar. 31, 2023
Component of Operating Income [Abstract]
Other Income	Note 10. Other Income The Company’s other income details for the three and nine-months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 Nine Months Ended Three Months Ended Nine Months Ended Re-imbursement of reclamation costs $ 47,123 $ 87,431 $ 210,672 $ 321,113 Leasing of water rights to third party — 5,975 — 5,858 Total $ 47,123 $ 93,406 $ 210,672 $ 326,971

Segmented Information

Segmented Information	9 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segmented Information	Note 11. Segmented Information Segmented information has been compiled based on the material mineral properties in which the Company performs exploration activities. Expenses and mineral property carrying values by material project for the three and nine months ended March 31, 2023: Exploration Land Holding Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Mineral Properties at March 31, 2023 Sleeper Gold Project and other Nevada based Projects $ 182,626 $ 794,402 $ 118,765 $ 360,206 $ 28,537,145 Grassy Mountain Project and other Oregon based Projects 414,689 1,107,910 38,378 115,135 23,285,728 $ 597,315 $ 1,902,312 $ 157,143 $ 475,341 $ 51,822,873 Expenses for the three and nine-months ended March 31, 2022 and mineral property carrying values at June 30, 2022 by material project: Exploration Land Holding Three Months Ended Nine Months Ended March 31, 2022 Three Months Ended Nine Months Ended March 31, 2022 Mineral Properties As at June 30, 2022 Sleeper Gold Project and other Nevada based Projects $ 244,296 $ 1,228,241 $ 124,633 $ 362,081 $ 28,507,145 Grassy Mountain Project and other Oregon based Projects 305,072 2,485,794 38,378 115,257 23,235,728 $ 549,368 $ 3,714,035 $ 163,011 $ 477,338 $ 51,742,873 Additional operating expenses incurred by the Company are treated as corporate overhead with the exception of accretion expense which is discussed in Note 8.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Other Commitments Paramount has an agreement to acquire 44 mining claims (“Cryla Claims”) covering 589 acres located immediately to the west of the proposed Grassy Mountain site from Cryla LLC. Paramount is obligated to make annual lease payments of $ 60,000 per year until 2033 with an option to purchase the Cryla Claims for $ 560,000 at any time. The term of the agreement is 25 years and commenced in 2018. In the event Paramount exercises its option to acquire the Cryla Claims, all annual payments shall be credited against a production royalty that will be based on a prevailing price of the metals produced from the Cryla Claims. The royalty rate ranges between 2 % and 4 % based on the daily price of gold. The agreement with Cryla can be terminated by Paramount at any time. All lease payments under the agreement are up-to-date and no other payments were made during the three and nine month periods ended March 31, 2023. The Cryla Claims are without known mineral reserves and there is no current exploratory work being performed. Paramount has an agreement with Nevada Select Royalty to purchase 100 % of the Frost Project, which consists of 40 mining claims located approximately 12 miles west of its Grassy Mountain Project. A total consideration of $ 250,000 payable to Nevada Select will be based on certain events over time. Nevada Select will retain a 2 % NSR on the Frost Claims and Paramount has the right to reduce the NSR to 1 % for a payment of $ 1 million. For the three and nine-month periods ended March 31, 2023, the Company made a payment of $ 50,000 and all required payments under the agreement are up-to-date. The Frost Claims are without known mineral reserves. The Company has an agreement with Nevada Select to purchase the Bald Peak mining claims in the States of Nevada and California for a total consideration of $ 300,000 . Payments under the agreement will be based on achieving certain events over time. Upon signing the agreement Paramount made a payment to Nevada Select of $ 20,000 . During the nine-month period ended March 31, 2023, a payment was made to Nevada Select for $ 30,000 after the Company received a drill permit from the US Forestry Service. All payments under the agreement are up to date as of March 31, 2023. The Bald Peak Claims are without known mineral reserves. Seabridge Gold Inc. ("Seabridge") holds a Net Profit Interest ("NPI") put option in which during the 30-day period immediately following the day that the Company has delivered notice to Seabridge that a positive production decision has been made and construction financing has been secured with respect to the Grassy Mountain Project, Seabridge may cause the Company to purchase the NPI for CDN$ 10,000,000 . If Seabridge exercises the right to cause the Company to purchase the NPI, the Company would likely need to seek additional equity or other financing to fund the purchase, which financing may not be available to the Company on favorable terms or at all. As of March 31, 2023, Seabridge holds approximately 5.5 % of the outstanding common stock of the Company and three members of Paramount's board of directors are either officers or directors of Seabridge.

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events Subsequent to the period end, the Company sold 5,536,790 shares under its at the market program for gross proceeds of $ 1,929,613 . The Company also borrowed $ 500,000 from Seabridge pursuant to the Note described in Note 7.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The unaudited condensed consolidated interim financial statements are prepared by management in accordance with accounting principles for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. In the opinion of management, all the normal and recurring adjustments necessary to fairly present the interim financial information set forth herein have been included. The condensed consolidated interim financial statements have been prepared on an accrual basis of accounting, in conformity with U.S. GAAP, are presented in US dollars and follow the same accounting policies and methods of their application as the most recent annual financial statements. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. The condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and related footnotes for the year ended June 30, 2022.
Significant Accounting Policies	Significant Accounting Policies Please see Note 1- Description of Business and Summary of Significant Accounting Policies contained in the 2022 10-K.

Capital Stock (Tables)

Capital Stock (Tables)	9 Months Ended
	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Stock Option Activity Under Stock Incentive and Compensation Plans	A summary of stock option activity under the Stock Incentive and Compensation Plans as of March 31, 2023 is presented below: Options Options Weighted Price Weighted- Aggregate Value Outstanding at June 30, 2021 1,998,995 $ 1.17 3.31 $ — Granted — — — — Exercised — — — — Forfeited or expired ( 190,000 ) 1.42 1.48 — Outstanding at June 30, 2022 1,808,995 $ 1.14 2.42 $ — Granted 50,000 0.60 4.75 — Exercised — — — — Forfeited or expired ( 303,995 ) 1.40 — — Outstanding at March 31, 2023 1,555,000 $ 1.08 2.11 $ — Exercisable at March 31, 2023 1,096,664 $ 1.08 2.09 $ —
Summary of Status of Non-Vested Options	A summary of the status of Paramount’s non-vested options as at March 31, 2023 is presented below: Non-vested Options Options Weighted- Grant- Non-vested at June 30, 2021 1,033,998 $ 0.55 Granted — — Vested ( 288,332 ) 0.53 Forfeited or expired ( 88,333 ) 0.73 Non-vested at June 30, 2022 657,333 $ 0.55 Granted 50,000 0.19 Vested ( 95,002 ) 0.28 Forfeited or expired ( 153,995 ) 0.74 Non-vested at March 31, 2023 458,336 $ 0.47
Summary of RSUs Activity	A summary of RSUs activity is summarized as follows: Restricted Share Unit Activity Outstanding RSUs Weighted average grant date fair value Outstanding at June 30, 2021 — $ — Granted 701,000 0.65 Vested — — Forfeited — — Outstanding at June 30, 2022 701,000 $ 0.65 Granted 630,000 0.30 Vested 350,500 0.65 Forfeited — — Outstanding at March 31, 2023 980,500 $ 0.43
Black-Scholes option valuation model
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Fair Value of Options Calculated Using Black-Scholes Option Valuations Method	The fair value for options granted for the nine months ended March 31, 2023 was calculated using the Black-Scholes option valuations method. The weighted average assumptions used were as follows: Nine Months Ended March 31, 2023 Nine Months Ended March 31, 2022 Weighted average risk-free interest rate 2.79 % N/A Weighted-average volatility 58 % N/A Expected dividends 0 N/A Weighted average expected term (years) 5 N/A Weighted average fair value $ 0.19 N/A

Convertible Debt (Tables)

Convertible Debt (Tables)	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Summary of Convertible Debt	Debt March 31, 2023 June 30, 2022 Current Non-Current Current Non-Current 2019 Secured Convertible Notes $ 4,277,690 — $ — $ 4,277,690 Less: unamortized discount and issuance costs ( 10,608 ) — — ( 55,880 ) $ 4,267,082 $ — $ — $ 4,221,810

Mineral Properties (Tables)

Mineral Properties (Tables)	9 Months Ended
	Mar. 31, 2023
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on Mineral Properties	The Company has capitalized acquisition costs on mineral properties as follows: March 31, 2023 June 30, 2022 Sleeper and other Nevada based Projects $ 28,537,145 $ 28,507,145 Grassy Mountain and other Oregon based Projects 23,285,728 23,235,728 $ 51,822,873 $ 51,742,873

Reclamation and Environmental (

Reclamation and Environmental (Tables)	9 Months Ended
	Mar. 31, 2023
Environmental Remediation Obligations [Abstract]
Schedule of Variables of Weighted Average	The following variables were used in the calculation for the periods ending March 31, 2023 and June 30, 2022: Nine Months Ended Year Ended June 30, 2022 Weighted-average credit adjusted risk free rate 9.94 % 9.94 % Weighted-average inflation rate 2.32 % 2.32 %
Changes to Reclamation and Environmental Costs	Changes to the Company’s reclamation and environmental costs for the Sleeper Gold Mine for the nine-month period ended March 31, 2023 and the year ended June 30, 2022 are as follows: Nine Months Ended Year Ended June 30, 2022 Balance at beginning of period $ 4,475,270 $ 1,849,644 Accretion expense 334,683 183,693 Additions and change in estimates — 2,475,169 Settlements ( 90,000 ) ( 33,236 ) Balance at end of period $ 4,719,953 $ 4,475,270

Other Income (Tables)

Other Income (Tables)	9 Months Ended
	Mar. 31, 2023
Component of Operating Income [Abstract]
Other Income Details	The Company’s other income details for the three and nine-months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 Nine Months Ended Three Months Ended Nine Months Ended Re-imbursement of reclamation costs $ 47,123 $ 87,431 $ 210,672 $ 321,113 Leasing of water rights to third party — 5,975 — 5,858 Total $ 47,123 $ 93,406 $ 210,672 $ 326,971

Segmented Information (Tables)

Segmented Information (Tables)	9 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Expenses and Mineral Property Carrying Values by Material Project	Expenses and mineral property carrying values by material project for the three and nine months ended March 31, 2023: Exploration Land Holding Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Mineral Properties at March 31, 2023 Sleeper Gold Project and other Nevada based Projects $ 182,626 $ 794,402 $ 118,765 $ 360,206 $ 28,537,145 Grassy Mountain Project and other Oregon based Projects 414,689 1,107,910 38,378 115,135 23,285,728 $ 597,315 $ 1,902,312 $ 157,143 $ 475,341 $ 51,822,873 Expenses for the three and nine-months ended March 31, 2022 and mineral property carrying values at June 30, 2022 by material project: Exploration Land Holding Three Months Ended Nine Months Ended March 31, 2022 Three Months Ended Nine Months Ended March 31, 2022 Mineral Properties As at June 30, 2022 Sleeper Gold Project and other Nevada based Projects $ 244,296 $ 1,228,241 $ 124,633 $ 362,081 $ 28,507,145 Grassy Mountain Project and other Oregon based Projects 305,072 2,485,794 38,378 115,257 23,235,728 $ 549,368 $ 3,714,035 $ 163,011 $ 477,338 $ 51,742,873 Additional operating expenses incurred by the Company are treated as corporate overhead with the exception of accretion expense which is discussed in Note 8.

Going Concern - Additional Info

Going Concern - Additional Information (Details) $ in Millions	9 Months Ended
	Mar. 31, 2023 USD ($)
Product Information [Line Items]
2019 Secured Convertible Notes, Non-Current	$ 5.3
Sleeper Gold Project
Product Information [Line Items]
Reclamation and environmental obligations	$ 3

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Nonmonetary Transaction [Line Items]
Shares of common stock issued under equity compensation plans	425,500	266,000	425,500	266,000
Fair value of shares issued for equity compensation plans			$ 142,650	$ 170,240
Interest Accrued
Nonmonetary Transaction [Line Items]
Number of shares issued			799,613	404,584
Fair value of shares issued			$ 320,826	$ 324,055

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares authorized	200,000,000		200,000,000		200,000,000
Capital stock, par value	$ 0.01		$ 0.01		$ 0.01
Shares of common stock issued under equity compensation plans	425,500	266,000	425,500	266,000
Options, Granted			50,000
Stock based compensation	$ 93,260	$ 231,629	$ 278,346	$ 318,840
Total unamortized compensation cost related to non-vested share based compensation	10,204		$ 10,204
Expected weighted-average period of unrecognized compensation cost			1 year 2 months 4 days
Total fair value of share based compensation arrangements vested	16,873	$ 0
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unamortized compensation cost related to non-vested share based compensation	$ 237,002		$ 237,002
Expected weighted-average period of unrecognized compensation cost			1 year 3 days
Restricted stock units, Granted	630,000	701,000	630,000		701,000
Service Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	$ 0	$ 1,405	$ 12,021	49,455
Service Condition | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	43,896	0	117,116	0
Performance Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	2,856	5,462	9,689	41,962
Performance Condition | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	$ 28,262	$ 0	$ 116,971	$ 0
Senior Management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term (in years), grants			5 years
Exercise price of options granted			$ 0.60
Options, Granted	0	0	50,000	0
2015 and 2016 Stock Incentive and Compensation Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term (in years), grants			5 years
2015 and 2016 Stock Incentive and Compensation Plans | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options and shares available for grant to employees and directors	3,500,000		3,500,000
Shares Average Price of $1.16
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares)	938,658	5,465,330	1,393,667	7,766,388
Proceeds from issuance of common stock and warrants	$ 315,175	$ 4,316,005	$ 473,688	$ 6,214,480
Accrued Interest
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate number of units issued (in shares)	458,316	235,894	799,613	404,584
Fair value of shares issued	$ 160,413	$ 160,413	$ 320,826	$ 324,055

Capital Stock - Schedule of Fai

Capital Stock - Schedule of Fair Value of Options Calculated Using Black-Scholes Option Valuations Method (Details) - Black-Scholes option valuation model	9 Months Ended
	Mar. 31, 2023 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	2.79%
Weighted-average volatility	58%
Expected dividends	$ 0
Weighted average expected term (years)	5 years
Weighted average fair value	$ 0.19

Capital Stock - Summary of Stoc

Capital Stock - Summary of Stock Option Activity Under Stock Incentive and Compensation Plans (Details) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021
Shares [Abstract]
Options, Granted	50,000
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	1,808,995	1,998,995
Options, Granted	50,000
Options, Forfeited or expired	(303,995)	(190,000)
Options, Outstanding, Ending balance	1,555,000	1,808,995	1,998,995
Options, Exercisable at March 31, 2023	1,096,664
Weighted-Average Exercise Price [Abstract]
Weighted Average Exercise Price, Options, Outstanding, Beginning balance	$ 1.14	$ 1.17
Weighted Average Exercise Price, Options, Granted	0.60
Weighted Average Exercise Price, Options, Forfeited or expired	1.40	1.42
Weighted Average Exercise Price, Options, Outstanding, Ending balance	1.08	$ 1.14	$ 1.17
Weighted Average Exercise Price, Options, Exercisable at March 31, 2023	$ 1.08
Weighted Average Remaining Contractual Term (Years), Options, Outstanding	2 years 1 month 9 days	2 years 5 months 1 day	3 years 3 months 21 days
Weighted Average Remaining Contractual Term (Years), Options, Granted	4 years 9 months
Weighted Average Remaining Contractual Term (Years), Options, Forfeited or expired		1 year 5 months 23 days
Weighted Average Remaining Contractual Term (Years), Options, Exercisable at March 31, 2023	2 years 1 month 2 days

Capital Stock - Summary of Stat

Capital Stock - Summary of Status of Non-Vested Options (Details) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Options [Abstract]
Non-vested Options, Beginning balance	657,333	1,033,998
Non-vested Options, Granted	50,000
Non-vested Options, Vested	(95,002)	(288,332)
Non-vested Options, Forfeited or expired	(153,995)	(88,333)
Non-vested Options, Ending balance	458,336	657,333
Weighted-Average Grant-Date Fair Value [Abstract]
Non-vested Weighted Average Grant Date Fair Value, Beginning balance	$ 0.55	$ 0.55
Non-vested Weight Average Grant Date Fair Value, Granted	0.19
Non-vested Weighted Average Grant Date Fair Value, Vested	0.28	0.53
Non-vested Weighted Average Grant Date Fair Value, Forfeited or expired	0.74	0.73
Non-vested Weighted Average Grant Date Fair Value, Ending balance	$ 0.47	$ 0.55

Capital Stock - Summary of RSUs

Capital Stock - Summary of RSUs Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding RSUs, Beginning Balance			701,000
Outstanding RSUs, Granted	630,000	701,000	630,000	701,000
Outstanding RSUs, Vested			350,500
Outstanding RSUs, Ending Balance	980,500		980,500	701,000
Outstanding RSUs, Weighted average grant date fair value, Beginning Balance			$ 0.65
Outstanding RSUs, Weighted average grant date fair value, Granted			0.30	$ 0.65
Outstanding RSUs, Weighted average grant date fair value, Vested			0.65
Outstanding RSUs, Weighted average grant date fair value, Ending Balance	$ 0.43		$ 0.43	$ 0.65

Convertible Debt - Summary of C

Convertible Debt - Summary of Convertible Debt (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
2019 Secured Convertible Notes, Non-Current	$ 5,300,000
2019 Secured Convertible Notes
Debt Instrument [Line Items]
2019 Secured Convertible Notes, Current	4,277,690
Less: unamortized discount and issuance costs, Current	(10,608)
Current Debt	$ 4,267,082
2019 Secured Convertible Notes, Non-Current		$ 4,277,690
Less: unamortized discount and issuance costs, Non-Currrent		(55,880)
Non-Current Debt		$ 4,221,810

Convertible Debt - Additional I

Convertible Debt - Additional Information (Details)	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($) $ / shares	Mar. 31, 2023 USD ($) ConvertibleNote	Mar. 31, 2023 USD ($) ConvertibleNote Days $ / shares	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs			$ 45,272	$ 45,272
2019 Secured Convertible Notes
Debt Instrument [Line Items]
Principal amount of convertible notes	$ 5,478
Agreed sale price of note	975
Principal amount per notes	$ 1,000
Convertible notes due period	2023
Convertible senior notes interest rate	7.50%
Convertible note, interest payment	semi-annually
Conversion price | $ / shares	$ 1
Amortization of debt discount and issuance costs	$ 275,883		$ 45,272	45,272
Amortization of debt discount interest expense term	4 years
Debt instrument, covenant description			At any point after the second anniversary of the issuance of the convertible notes, Paramount may force conversion if the share price of its common stock remains above $1.75 for 20 consecutive trading days. The convertible notes are secured by a lien on all assets of the Company and the Company is required to maintain a cash balance of $250,000. At March 31, 2023, excluding the current 2019 Secured Convertible Notes, the cash covenant was met by the Company.
Debt instrument, interest rate, effective percentage	8.46%
Convertible note, stock price trigger (in dollars per share) | $ / shares			$ 1.75
Threshold consecutive trading days for convertible debt | Days			20
Convertible note, covenant cash balance		$ 250,000	$ 250,000
Number of senior secured convertible notes converted | ConvertibleNote		0	0
Notes outstanding		$ 4,278	$ 4,278	4,278
Notes held by related parties		$ 660	$ 660	$ 660

Notes Payable, Related Party -

Notes Payable, Related Party - Additional Information (Details) - Seabridge Gold Inc. - USD ($)		9 Months Ended
	Dec. 09, 2022	Mar. 31, 2023
Debt Instrument [Line Items]
Percentage of outstanding common stock		5.50%
Notes Payable | Bridge Promissory Note
Debt Instrument [Line Items]
Interest rate of loan	12%
Debt instrument, maturity description		The Loan bears interest at a per annum rate of 12%, payable upon maturity or prepayment, and matures on September 30, 2023.
Loan maturity date	Sep. 30, 2023
Balance of loan including accrued interest		$ 1,034,521
Notes Payable | Bridge Promissory Note | Maximum
Debt Instrument [Line Items]
Principal amount of loan	$ 1,500,000
Rudi Fronk
Debt Instrument [Line Items]
Percentage of outstanding common stock		5.50%

Mineral Properties - Capitalize

Mineral Properties - Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Mineral Properties [Line Items]
Mineral properties, net	$ 51,822,873	$ 51,742,873
Sleeper and Other Nevada Based Projects
Mineral Properties [Line Items]
Mineral properties, net	28,537,145	28,507,145
Grassy Mountain and Other Oregon Based Projects
Mineral Properties [Line Items]
Mineral properties, net	$ 23,285,728	$ 23,235,728

Mineral Properties - Additional

Mineral Properties - Additional Information (Details) - Nevada	9 Months Ended
	Mar. 31, 2023 USD ($)
Mineral Properties [Line Items]
Related party transaction, payments made	$ 30,000
Frost Project
Mineral Properties [Line Items]
Related party transaction, payments made	$ 50,000

Reclamation and Environmental -

Reclamation and Environmental - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Site Contingency [Line Items]
Commutation account and reclamation bonds	$ 499,476		$ 499,476		$ 498,276
Reclamation and environmental obligation	4,719,953		4,719,953		4,475,270	$ 1,849,644
Reclamation and environmental obligation, current	3,120,000		3,120,000		120,000
Reclamation and environmental obligation, noncurrent	1,599,953		1,599,953		$ 4,355,270
Non current portion of reclamation and environmental obligation reallocated	3,000,000		3,000,000
Accretion expense	111,561	$ 45,969	334,683	$ 137,907
Sleeper Gold Project
Site Contingency [Line Items]
Undiscounted estimate of reclamation costs	3,639,771		3,639,771
Sleeper Gold Project | NDEP
Site Contingency [Line Items]
Undiscounted estimate of reclamation costs	$ 5,280,000		$ 5,280,000

Reclamation and Environmental_2

Reclamation and Environmental - Schedule of Variables of Weighted Average (Details)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Environmental Remediation Obligations [Abstract]
Weighted-average credit adjusted risk free rate	9.94%	9.94%
Weighted-average inflation rate	2.32%	2.32%

Reclamation and Environmental_3

Reclamation and Environmental - Changes to Reclamation and Environmental Costs (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of period			$ 4,475,270	$ 1,849,644	$ 1,849,644
Accretion expense	$ 111,561	$ 45,969	334,683	$ 137,907	183,693
Additions and change in estimates					2,475,169
Settlements			(90,000)		(33,236)
Balance at end of period	$ 4,719,953		$ 4,719,953		$ 4,475,270

Other Income - Other Income Det

Other Income - Other Income Details (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Component of Operating Income [Abstract]
Re-imbursement of reclamation costs	$ 47,123	$ 210,672	$ 87,431	$ 321,113
Leasing of water rights to third party			5,975	5,858
Total	$ 47,123	$ 210,672	$ 93,406	$ 326,971

Segmented Information - Schedul

Segmented Information - Schedule of Expenses and Mineral Property Carrying Values by Material Project (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Segment Reporting Information [Line Items]
Exploration Expenses	$ 597,315	$ 549,368	$ 1,902,312	$ 3,714,035
Land Holding Costs	157,143	163,011	475,341	477,338
Mineral properties, net	51,822,873		51,822,873		$ 51,742,873
Sleeper Gold Project and other Nevada based Projects
Segment Reporting Information [Line Items]
Exploration Expenses	182,626	244,296	794,402	1,228,241
Land Holding Costs	118,765	124,633	360,206	362,081
Mineral properties, net	28,537,145		28,537,145		28,507,145
Grassy Mountain Project and other Oregon based Projects
Segment Reporting Information [Line Items]
Exploration Expenses	414,689	305,072	1,107,910	2,485,794
Land Holding Costs	38,378	$ 38,378	115,135	$ 115,257
Mineral properties, net	$ 23,285,728		$ 23,285,728		$ 23,235,728

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($) a	Mar. 31, 2023 USD ($) a MiningClaim	Mar. 31, 2023 CAD ($) MiningClaim
Seabridge Gold Inc.
Commitments And Contingencies [Line Items]
Percentage of outstanding common stock	5.50%	5.50%
Nevada
Commitments And Contingencies [Line Items]
Total consideration payable	$ 300,000	$ 300,000
Total consideration paid		20,000
Related party transaction, payments made		$ 30,000
Grassy Mountain Project
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim		44	44
Area covered by mining claims | a	589	589
Annual lease payment, year one	$ 60,000	$ 60,000
Option to purchase mining claims, price		$ 560,000
Term of the agreement	25 years	25 years
Operating lease, payments	$ 0	$ 0
Grassy Mountain Project | Seabridge Gold Inc.
Commitments And Contingencies [Line Items]
Payment to purchase net profit interest			$ 10,000,000
Grassy Mountain Project | Minimum
Commitments And Contingencies [Line Items]
Royalty rate	2%	2%
Grassy Mountain Project | Maximum
Commitments And Contingencies [Line Items]
Royalty rate	4%	4%
Frost Project | Nevada
Commitments And Contingencies [Line Items]
Total consideration paid	$ 50,000	$ 50,000
Related party transaction, payments made		$ 50,000
Frost Project | Nevada
Commitments And Contingencies [Line Items]
Number of mining fields | MiningClaim		40	40
Percentage of mining claim rights acquired		100%	100%
Total consideration payable	$ 250,000	$ 250,000
Percentage of Net Smelter Royalty		2%	2%
Rate of right to reduce net smelter royalty by parent		1%	1%
Payment to reduce NSR by parent		$ 1,000,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Apr. 01, 2023	Mar. 31, 2023	Jun. 30, 2022
Subsequent Event [Line Items]
Common stock, shares issued		49,209,951	46,591,081
Subsequent Event
Subsequent Event [Line Items]
Common stock, shares issued	5,536,790
Proceeds from issuance of equity	$ 1,929,613
Subsequent Event | Bridge Promissory Note | Seabridge Gold Inc.
Subsequent Event [Line Items]
Notes Borrowed	$ 500,000