Paramount Gold Nevada (PZG) 10-Q 10 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 05, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Paramount Gold Nevada Corp.
Entity Central Index Key	1,629,210
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Trading Symbol	PZG
Entity Common Stock, Shares Outstanding		8,518,791

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Current Assets
Cash and cash equivalents	$ 8,278,343	$ 9,282,534
Prepaid and deposits	499,764	198,676
Accounts receivable		37,071
Prepaid insurance, current portion (Note 10)	49,043	49,043
Marketable securities (Note 3)	778	14,657
Total Current Assets	8,827,928	9,581,981
Non-Current Assets
Mineral properties (Note 8)	28,036,135	28,036,135
Prepaid insurance, non-current portion (Note 10)	12,257	24,518
Property and equipment (Note 9)	12,927	7,996
Reclamation bond (Note 10)	2,506,911	2,499,396
Total Non-Current Assets	30,568,230	30,568,045
Total Assets	39,396,158	40,150,026
Current Liabilities
Accounts payable and accrued liabilities	118,659	233,200
Total Current Liabilities	118,659	233,200
Non-Current Liabilities
Reclamation and environmental obligation (Note 10)	1,331,495	1,294,497
Total Liabilities	1,450,154	1,527,697
Stockholders' Equity
Common stock, par value $0.01, 50,000,000 authorized shares, 8,518,791 issued and outstanding at September 30, 2015 and at June 30, 2015	85,188	85,188
Additional paid in capital	64,712,093	64,572,546
Deficit	(26,782,205)	(25,980,212)
Accumulated other comprehensive income (loss)	(69,072)	(55,193)
Total Stockholders' Equity	37,946,004	38,622,329
Total Liabilities and Stockholders' Equity	$ 39,396,158	$ 40,150,026

Condensed Consolidated Interim3

Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015	Apr. 17, 2015	Sep. 30, 2014
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000		25,000
Common stock, shares issued	8,518,791	8,518,791		1,000
Common stock, shares outstanding	8,518,791	8,518,791		1,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Revenue
Other income (Note 11)	$ 5,202	$ 30,486
Total Revenue	5,202	30,486
Expenses
Exploration	274,875	238,360
Land holding costs	84,522	126,222
Professional fees	50,828	17,654
Salaries and benefits	208,291	33,361
Directors compensation	51,265	10,722
General and administrative	58,216	10,499
Insurance	41,940	36,259
Depreciation	1,546
Accretion (Note 10)	36,998	33,692
Write down of mineral properties (Note 8)		337,400
Total Expenses	808,481	844,169
Net Loss before other items	803,279	813,683
Other items
Interest income	(1,361)	(746)
Interest and service charges (Note 7)	75	753,240
Gain on sale of marketable securities (Note 3)		(31,975)
Net Loss	801,993	1,534,202
Other comprehensive loss
Unrealized loss on available-for-sale-securities	13,879	123,665
Total Comprehensive Loss for the Period	$ 815,872	$ 1,657,867
Loss per Common Share
Basic	$ 0.09	$ 0.19
Diluted	$ 0.09	$ 0.19
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	8,518,791	8,101,371
Diluted	8,518,791	8,101,371

Condensed Consolidated Interim5

Condensed Consolidated Interim Statements of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at Jun. 30, 2013	$ 17,832,378	$ 29,701,475	$ 3,845,164	$ (15,714,261)
Balance (in shares) at Jun. 30, 2013		1,000
Stock based compensation	248,450		248,450
Imputed interest on loans due to PGSC	2,452,100		2,452,100
Unrealized gain (loss) on marketable securities	60,149				$ 60,149
Net loss	(5,034,744)			(5,034,744)
Balance at Jun. 30, 2014	15,558,333	$ 29,701,475	6,545,714	(20,749,005)	60,149
Balance (in shares) at Jun. 30, 2014		1,000
Unrealized gain (loss) on marketable securities	$ (123,665)
Balance (in shares) at Sep. 30, 2014	1,000
Balance at Jun. 30, 2014	$ 15,558,333	$ 29,701,475	6,545,714	(20,749,005)	60,149
Balance (in shares) at Jun. 30, 2014		1,000
Returned to treasury by PGSC for Spin-off	(29,701,475)	$ (29,701,475)
Returned to treasury by PGSC for Spin-off (in shares)		(1,000)
Capital issued for Spin-off transaction	29,701,475	$ 81,014	29,620,461
Capital issued for Spin-off transaction (in shares)		8,101,371
Contributed capital by PGSC - Cash	8,445,860		8,445,860
Contributed capital by PGSC - Loan reclassified to equity	15,866,870		15,866,870
Capital issued for financing	1,470,000	$ 4,174	1,465,826
Capital issued for financing (in shares)		417,420
Stock based compensation	375,788		375,788
Imputed interest on loans due to PGSC	2,252,027		2,252,027
Unrealized gain (loss) on marketable securities	(8,711)				(8,711)
Transfer on realized gain on sale of marketable securities	(106,631)				(106,631)
Net loss	(5,231,207)			(5,231,207)
Balance at Jun. 30, 2015	$ 38,622,329	$ 85,188	64,572,546	(25,980,212)	(55,193)
Balance (in shares) at Jun. 30, 2015	8,518,791	8,518,791
Stock based compensation	$ 139,547		139,547
Unrealized gain (loss) on marketable securities	(13,879)				(13,879)
Net loss	(801,993)			(801,993)
Balance at Sep. 30, 2015	$ 37,946,004	$ 85,188	$ 64,712,093	$ (26,782,205)	$ (69,072)
Balance (in shares) at Sep. 30, 2015	8,518,791	8,518,791

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement Of Cash Flows [Abstract]
Net Loss	$ (801,993)	$ (1,534,202)
Adjustment for:
Depreciation	1,546
Stock based compensation	139,547	6,613
Write-down of mineral properties (Note 8)		337,400
Interest expense on loans due to PGSC (Note 7)		753,002
Accretion expense (Note 10)	36,998	33,692
Change in reclamation	(7,515)	(746)
Insurance expense	12,261	12,261
Gain on sale of marketable securities (Note 3)		(31,975)
(Increase) decrease in accounts receivable	37,071
(Increase) decrease in prepaid expenses	(301,088)	(271,396)
Increase (decrease) in accounts payable	(114,541)	(22,508)
Cash (used in) operating activities	(997,714)	(717,859)
Sale (purchase) of marketable securities		462,075
Purchase of equipment	(6,477)
Cash provided by (used in) investing activities	(6,477)	462,075
Loan from PGSC (Note 7)		765,129
Cash provided by financing activities		765,129
Change in cash during period	(1,004,191)	509,345
Cash at beginning of period	9,282,534	460,220
Cash at end of period	$ 8,278,343	$ 969,565

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2015
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 the General Corporation Law of the State of Nevada, 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 and Sleeper Mining Company, LLC. The Company is in the process of exploring its mineral properties in Nevada, United States. The Company’s activities are subject to significant risks and uncertainties, including failing to secure additional funding to advance its projects and to date has not determined whether these properties contain reserves that are economically recoverable. Spin-Off from Paramount Gold and Silver Corp. Paramount Gold and Silver Corp. (“PGSC”) owned, prior to the separation (defined below), 100% of the issued and outstanding shares of the Company. On April 17, 2015, we entered into the previously disclosed separation and distribution agreement (the “Separation Agreement”) with PGSC, to effect the separation (the “Separation”) of the Company from PGSC, and to provide for the allocation between the Company and PGSC of the Company’s and PGSC’s assets, liabilities and obligations attributable to periods prior to, at and after the Separation. We filed a registration statement on Form S-1 in connection with the distribution (the “Distribution”) by PGSC to its stockholders of all the outstanding shares of common stock of the Company, par value $0.01 per share. The registration statement was declared effective by the Securities and Exchange Commission (“SEC”) on April 9, 2015. On April 6, 2015, the Company filed a Form 8-A with the SEC to register its shares of common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended. The distribution, which effected a spin-off of the Company from PGSC, was made on April 17, 2015, to PGSC stockholders of record on April 14, 2015. On the distribution date, stockholders of PGSC received one share of Company common stock for every twenty shares of PGSC common stock held. Up to and including the distribution date, PGSC common stock traded on the “regular-way” market; that is, with an entitlement to shares of Company common stock distributed pursuant to the distribution. As a result of the distribution, the Company is now a publicly traded company independent from PGSC. On April 20, 2015, the Company’s shares of common stock commenced trading on the NYSE MKT LLC under the symbol “PZG”. An aggregate of 8,101,371 shares of Company common stock were issued in the Distribution. Basis of Presentation and Preparation The accompanying 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 results of operations for interim periods are not necessarily indicative of the operating results of a full year or future years. The condensed consolidated interim financial statements have been prepared in accordance with U.S. GAAP 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, 2015. Marketable Securities The Company classifies its marketable securities as available-for-sale securities. The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. 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 condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management in the accompanying condensed consolidated interim financial statements include the adequacy of the Company’s asset retirement obligations, valuation of deferred tax asset, and valuation of mineral properties. Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments. Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and amounts receivable. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At September 30, 2015, the balances of approximately $8 million were in excess of federally insured limits. We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss. Allocations PGSC, prior to the Separation, provided administrative support to the Company for executive management, information systems and certain accounting, legal and other administrative functions. The costs of these services were allocated to the Company based primarily on a percentage of the Company’s exploration costs as compared to PGSC’s consolidated exploration costs. The allocations may not reflect the expense the Company would have incurred as an independent, publicly traded company for the periods presented. The condensed consolidated interim financial statements for the year ended June 30, 2015 and interim period ended September 2014 also reflect interest expense imputed by the Company on the non-interest bearing loans from PGSC (Note 7). Management believes that its allocations are reasonable and based on a systematic and rational method; however, they are not necessarily indicative of the actual financial results of the Company, including such expenses that would have been incurred by the Company had it been operating as a separate, stand-alone entity for the periods presented. As a stand-alone entity, the Company expects to incur expenses that may not be comparable in future periods to what is presented for the historical periods presented in the condensed consolidated interim financial statements. Consequently, the financial information herein may not reflect the financial position, results of operations and cash flows of the Company in the future or if the Company had been an independent stand-alone entity during all of the periods presented. In our opinion, the condensed consolidated interim financial statements include all adjustments necessary for a fair presentation of the Company’s results of operations. Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as 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. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments. Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties. Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed. Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance Asset Retirement Obligations The Company follows the provisions of ASC 440, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The Company’s asset retirement obligations are further described in Note 10. Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Basic and diluted loss per share were adjusted retroactively for all periods presented to reflect the Distribution that occurred on April 17, 2015. For the periods ended September 30, 2015 and 2014, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year. Revenue Recognition Revenue is recognized when persuasive evidence that an agreement exists, the risks and rewards of ownership pass to the purchaser, the selling price is fixed and determinable; or collection is reasonably assured. The passing of title to the purchaser is based on the terms of the purchase and sale agreement.

Recent Accounting Guidance

Recent Accounting Guidance	3 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	Note 2. Recent Accounting Guidance In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Presentation of Financial Statements- Going Concern (Subtopic 205-40)”, this update provides U.S GAAP guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. This amendment in this update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. The Company has evaluated all other recently issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s condensed consolidated interim financial statements. In June 2014, the FASB issued ASU2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force) (“ASU2014-12”). ASU 2014-12 clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent upon the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. ASU2014-12 does not contain any new disclosure requirements. ASU2014-12 is effective for the Company beginning July 1, 2016. The adoption of ASU2014-12 is not expected to have a material impact on the Company's condensed consolidated interim financial statements

Marketable Securities and Inves

Marketable Securities and Investments	3 Months Ended
	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Marketable Securities and Investments	Note 3. Marketable Securities and Investments The following table summarizes the Company’s available-for sale securities on hand as of September 30, 2015 and June 30, 2015: Cost Impairment Charge Adjusted Gross Unrealized Losses Gross Unrealized Gains Fair Marketable securities at September 30, 2015 $ 69,850 — 69,850 69,072 — $ 778 Marketable securities at June 30, 2015 $ 69,850 — 69,850 55,193 — $ 14,657 During the three month period ended September 30, 2015, the Company recorded an unrealized loss of $13,879 (2014 – $123,665 gain). The marketable securities reflected in the table above includes stock purchase warrants of a single entity involved in the exploration of precious metals. Each stock purchase warrant is exercisable for a common share of the entity. The Company performs a quarterly assessment on its marketable securities with unrealized losses to determine if the security is other than temporarily impaired.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization with the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described below: 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. The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at September 30, 2015 June 30, 2015 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 8,278,343 8,278,343 — — $ 9,282,534 Marketable Securities $ 778 — — 778 $ 14,657 The Company’s cash and cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The cash and cash equivalents that are valued based on quoted market prices in active markets are primarily comprised of commercial paper, short-term certificates of deposit and U.S. Treasury securities. At September 30, 2015, the Company’s marketable securities are comprised of stock purchase warrants. The stock purchase warrants’ fair value is recorded using a Black Scholes options model using inputs such as contractual terms, stock volatility and implied interest rates. The Company’s marketable securities are classified within Level 3 of the fair value hierarchy.

Non-Cash Transactions

Non-Cash Transactions	3 Months Ended
	Sep. 30, 2015
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 5. Non-Cash Transactions During the three month period ended September 30, 2015 and 2014, the Company did not enter into any non-cash activities.

Capital Stock

Capital Stock	3 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Capital Stock	Note 6. Capital Stock Authorized Capital Authorized capital stock consists of 50,000,000 common shares with par value of $0.01 per common share (2014- 25,000 common shares with no par value). At September 30, 2015 there were 8,518,791 shares issued and outstanding (2014- 1,000 common shares). On February 19, 2015, the Company amended its articles of incorporation to replace its authorized capital of 25,000 common shares with no par value (“Old Common Shares”) with 50,000,000 common shares with par value of $0.01 per common share (“New Common Shares”). In connection with the amendment PGSC returned 1,000 Old Common Shares to treasury for cancellation in exchange for 8,101,371 New Common Shares. Stock Options and Stock Based Compensation Paramount’s 2015 Stock Incentive and Compensation Plan, which is shareholder-approved, permits the grant of share options and shares to its employees for up to 1.278 million shares of common 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 and employees with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the employee share option plan). The Company did not grant stock options for the three month period ending September 30, 2015. A summary of option activity under the Stock Incentive and Compensation Plan as of September 30, 2015, and changes during the three month period ended is presented below. Options Shares Weighted Average Exercise Weighted-Average Remaining Aggregate Intrinsic Outstanding at July 1, 2015 995,000 $ 1.53 Granted — — Exercised — — Forfeited or expired — — Outstanding at September 30, 2015 995,000 $ 1.53 4.75 — Exercisable at September 30, 2015 331,670 $ 1.53 4.75 — A summary of the status of Paramount’s non-vested shares as of June 30, 2015 and changes during the year ended June 30, 2015 is presented below. Nonvested Options Shares Weighted- Average Value Nonvested at July 1, 2015 663,330 $ 1.13 Granted — — Vested — — Forfeited — — Nonvested at September 30, 2015 663,330 $ 1.13 As of September 30, 2015, there was $597,821 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the employee share option plan. That cost is expected to be recognized over a weighted-average period of 1.29 years. The total fair value of shares vested during the three month period ended September 30, 2015 and 2014, was $nil and $nil, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 7. Related Party Transactions The Company’s expenses includes allocations from PGSC of costs associated with administrative support functions which included executive management, information systems, finance, legal, accounting and certain other administrative functions and stock-based compensation. Allocated stock-based compensation includes equity awards granted to employees of the Company as well as allocated stock-based compensation expense associated with PGSC employees that provided administrative support to the Company. For the three month period ended September 30, 2015 and 2014, the Company’s allocated expenses from PGSC were as follows: Period Ended Period Ended 2015 2014 Allocated expenses included in: Exploration $ - $ 3,700 Professional fees - 49,217 Directors compensation - 15,218 Total $ - $ 68,135 As discussed in Note 1, the Company believes the assumptions and methodologies underlying the allocation of administrative expenses and stock-based compensation are reasonable. However, such expenses may not be indicative of the actual expenses that would have been incurred by the Company as a stand-alone company. As such, the financial information herein may not necessarily reflect the consolidated financial position, results of operation, and cash flows of the Company in the future or if the Company had been a stand-alone entity during the comparative presented period ended September 30, 2014. During the three month period ended September 30, 2015, directors were paid or accrued $19,718 (2014- $8,477) for their services as directors of the Company’s Board. During the three month period ended September 30, 2015, the Company also recorded a non-cash transaction to recognize stock based compensation for directors in the amount of $31,548 (2014 - $2,245). Prepaid expense include $19,717 (2014 - $nil) for retainers paid to directors. All transactions with related parties are made in the normal course of operations and are measured at exchange value.

Mineral Properties

Mineral Properties	3 Months Ended
	Sep. 30, 2015
Mineral Industries Disclosures [Abstract]
Mineral Properties	Note 8. Mineral Properties The Company has capitalized acquisition costs on mineral properties as follows: September 30, 2015 June 30, 2015 Sleeper $ 25,554,090 $ 25,554,090 Mill Creek 2,096,616 2,096,616 Spring Valley 385,429 385,429 $ 28,036,135 $ 28,036,135 Sleeper: Sleeper is located in northern Nevada approximately 26 miles northwest of the town of Winnemucca. The Sleeper Gold Mine consists of 2,322 unpatented mining claims totaling approximately 72.5 square miles. Mill Creek: The Mill Creek property consists of 36 unpatented lode mining claims totaling 720 acres south of Battle Mountain Nevada. Spring Valley: The Spring Valley property consists of 38 unpatented lode mining claims totaling approximately 760 acres located in Pershing County, Nevada.

Property and Equipment

Property and Equipment	3 Months Ended
	Sep. 30, 2015
Property Plant And Equipment [Abstract]
Property and Equipment	Note 9. Property and Equipment: At September 30, 2015, and June 30, 2015, property and equipment consisted of the following: September 30, 2015 June 30, 2015 Computer equipment $ 14,477 $ 8,000 Equipment 1,329 1,329 Subtotal 15,806 9,329 Accumulated depreciation (2,879 ) (1,333 ) Total $ 12,927 $ 7,996 During the three month period ended September 30, 2015, net additions to property, and equipment were $6,477 (2014- $nil). During the three month period ended September 30, 2015 the Company recorded depreciation of $1,546 (2014-$—).

Reclamation and Environmental

Reclamation and Environmental	3 Months Ended
	Sep. 30, 2015
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental	Note 10. Reclamation and Environmental: The Company holds an insurance policy related to its Sleeper Gold Project that covers reclamation costs in the event the Company defaults on payments of its reclamation costs up to an aggregate of $25 million. The unamortized insurance premium is being amortized to December 31, 2016 and the current and non-current prepaid insurance balance at September 30, 2015 is $61,300 (June 30, 2015 - $73,561). As a part of its insurance policy, the Company has funds in a commutation account which is used to reimburse reclamation costs and indemnity claims. The balance of the commutation account at September 30, 2015 is $2,506,911 (June 30, 2015 - $2,499,396). Reclamation and environmental costs are based principally on legal requirements. Management estimates costs associated with reclamation of mineral properties and properties under mine closure. On an ongoing basis the Company evaluates its estimates and assumptions; however, actual amounts could differ from those based on estimates and assumptions. The asset retirement obligation at the Sleeper Gold Project has been measured using the following variables: 1) Expected costs for earthwork, re-vegetation, in-pit water treatment, on-going monitoring, labor and management, 2) Inflation adjustment, and 3) Market risk premium. The sum of the expected costs by year is discounted using the Company’s credit adjusted risk free interest rate from the time it expects to pay the retirement obligation to the time it incurs the obligation. The reclamation and environmental obligation recorded on the balance sheet is equal to the present value of the estimated costs. The current undiscounted estimate of the reclamation costs for existing disturbances at the Sleeper Gold Project is $3,915,626 as required by U.S Bureau of Land Management and the Nevada Department of Environmental Protection. Assumptions used to compute the asset retirement obligations as at September 30, 2015 and June 30, 2015 for the Sleeper Gold Project included a credit adjusted risk free rate and inflation rate of 9.76% (June 30, 2015 – 9.76%) and 2.0% (June 30, 2015 – 2.0%), respectively. Expenses are expected to be incurred between the years 2014 and 2053. Changes to the Company’s asset retirement obligations for the three month period year ended September 30, 2015 are as follows: September 30, 2015 June 30, 2015 Balance at beginning of period $ 1,294,497 $ 1,291,066 Accretion expense 36,998 134,768 Payments - (131,337 ) Balance at end of period $ 1,331,495 $ 1,294,497

Other Income

Other Income	3 Months Ended
	Sep. 30, 2015
Other Income [Abstract]
Other Income	Note 11. Other Income The Company’s other income details were as follows: Three Month Period Three Month Period 2015 2014 Re-imbursement of reclamation costs $ - $ 25,386 Leasing of water rights to third party 5,202 5,100 Total $ 5,202 $ 30,486

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies: Since the announcement of the merger of PGSC and Coeur on December 17, 2014, the Company, PGSC, members of PGSC’s board, Coeur, and Hollywood Merger Sub, Inc. (“Merger Sub”) have been named as defendants in six putative stockholder class action suits brought by purported stockholders of PGSC, challenging the proposed Merger (the “Complaints”). The Complaints were filed in the Court of Chancery in the State of Delaware (Fernando Gamboa v. Paramount Gold and Silver Corp., et al., No.: 10499; Jerry Panning v. Paramount Gold and Silver Corp., et al., No.: 10507; Jonah Weiss v. Christopher Crupi, et al., No.: 10517; Justin Beaston v. Paramount Gold and Silver Corporation, et al., No.: 10538; Rob Byers v. Christopher Crupi, et al., No.: 10551; James H. Alston v. Paramount Gold and Silver Corp., et al., No.: 10531. The plaintiffs generally claim that the PGSC board members breached their fiduciary duties to PGSC stockholders by: (i) authorizing the merger with Coeur for what the plaintiffs assert is inadequate consideration and pursuant to an allegedly inadequate process, and (ii) failing to disclose sufficient information in its Form S-4 filed with the Securities and Exchange Commission to allow the shareholders to make an informed vote. The plaintiffs also claim that the Company, PGSC, Coeur, and Merger Sub aided and abetted the other defendants’ alleged breach of duties. In the Complaints, the plaintiffs seek, among other things, to enjoin the merger, rescind the transaction or obtain rescissory damages if the merger is consummated, obtain other unspecified damages and recover attorneys’ fees and costs. The merger was consummated on April 17, 2015. We, PGSC, members of PGSC board, Coeur, and Merger Sub deny any wrongdoing and are vigorously defending all of the actions. Lease Commitments During the three month period ended September 30, 2015, the Company entered into office premises leases that expire at various dates until June 30, 2018. The aggregate minimum rentals payable for these operating leases are as follow: Year Total Amount 2016 $ 22,366 2017 $ 19,444 2018 $ 18,400 During the three month period ended September 30, 2015, $6,804 was recognized as rent expense in the statement of operations and comprehensive loss.

Description of Business and S19

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The accompanying 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 results of operations for interim periods are not necessarily indicative of the operating results of a full year or future years. The condensed consolidated interim financial statements have been prepared in accordance with U.S. GAAP 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, 2015.
Marketable Securities	Marketable Securities The Company classifies its marketable securities as available-for-sale securities. The securities are measured at fair market value in the financial statements with unrealized gains and temporary losses on investments classified as available for sale are included within accumulated other comprehensive income, net of any related tax effect. Upon realization, such amounts are reclassified from accumulated other comprehensive income to other income, net, realized gains and losses and other than temporary impairments, if any, are reflected in the statements of operations as other income or expenses. The Company does not recognize changes in the fair value of its investments in income unless a decline in value is considered other than temporary.
Use of Estimates	Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. 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 condensed consolidated interim financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management in the accompanying condensed consolidated interim financial statements include the adequacy of the Company’s asset retirement obligations, valuation of deferred tax asset, and valuation of mineral properties.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash and cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents and amounts receivable. The Company maintains cash in accounts which may, at times, exceed federally insured limits. At September 30, 2015, the balances of approximately $8 million were in excess of federally insured limits. We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss.
Allocations	Allocations PGSC, prior to the Separation, provided administrative support to the Company for executive management, information systems and certain accounting, legal and other administrative functions. The costs of these services were allocated to the Company based primarily on a percentage of the Company’s exploration costs as compared to PGSC’s consolidated exploration costs. The allocations may not reflect the expense the Company would have incurred as an independent, publicly traded company for the periods presented. The condensed consolidated interim financial statements for the year ended June 30, 2015 and interim period ended September 2014 also reflect interest expense imputed by the Company on the non-interest bearing loans from PGSC (Note 7). Management believes that its allocations are reasonable and based on a systematic and rational method; however, they are not necessarily indicative of the actual financial results of the Company, including such expenses that would have been incurred by the Company had it been operating as a separate, stand-alone entity for the periods presented. As a stand-alone entity, the Company expects to incur expenses that may not be comparable in future periods to what is presented for the historical periods presented in the condensed consolidated interim financial statements. Consequently, the financial information herein may not reflect the financial position, results of operations and cash flows of the Company in the future or if the Company had been an independent stand-alone entity during all of the periods presented. In our opinion, the condensed consolidated interim financial statements include all adjustments necessary for a fair presentation of the Company’s results of operations.
Fair Value Measurements	Fair Value Measurements The Company has adopted FASB ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. The Company applies fair value accounting for all financial assets and liabilities and non – financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as 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. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments.
Stock Based Compensation	Stock Based Compensation The Company has adopted the provisions of FASB ASC 718, “ Stock Compensation
Mineral Properties	Mineral Properties Mineral property acquisition costs are capitalized when incurred and will be amortized using the units-of-production method over the estimated life of the reserve following the commencement of production. If a mineral property is subsequently abandoned or impaired, any capitalized costs will be expensed in the period of abandonment or impairment. Acquisition costs include cash consideration and the fair market value of shares issued on the acquisition of mineral properties.
Exploration Costs	Exploration Costs Exploration costs, which include maintenance, development and exploration of mineral claims, are expensed as incurred. When it is determined that a mineral deposit can be economically developed as a result of establishing proven and probable reserves, the costs incurred after such determination will be capitalized and amortized over their useful lives. To date, the Company has not established the commercial feasibility of its exploration prospects; therefore, all exploration costs are being expensed.
Property and Equipment	Property and Equipment Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance
Asset Retirement Obligations	Asset Retirement Obligations The Company follows the provisions of ASC 440, “Asset Retirement and Environmental Obligations”, which establishes the standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. The Company’s asset retirement obligations are further described in Note 10.
Net Loss per Share	Net Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during each period. Diluted loss per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Basic and diluted loss per share were adjusted retroactively for all periods presented to reflect the Distribution that occurred on April 17, 2015. For the periods ended September 30, 2015 and 2014, the shares of common stock equivalents related to outstanding stock options have not been included in the diluted per share calculation as they are anti-dilutive as the Company has recorded a net loss from continuing operations for each year.
Revenue Recognition	Revenue Recognition Revenue is recognized when persuasive evidence that an agreement exists, the risks and rewards of ownership pass to the purchaser, the selling price is fixed and determinable; or collection is reasonably assured. The passing of title to the purchaser is based on the terms of the purchase and sale agreement.
Recent Accounting Guidance	In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, “Presentation of Financial Statements- Going Concern (Subtopic 205-40)”, this update provides U.S GAAP guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. This amendment in this update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. The Company has evaluated all other recently issued accounting pronouncements and believes such pronouncements do not have a material effect on the Company’s condensed consolidated interim financial statements. In June 2014, the FASB issued ASU2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force) (“ASU2014-12”). ASU 2014-12 clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent upon the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. ASU2014-12 does not contain any new disclosure requirements. ASU2014-12 is effective for the Company beginning July 1, 2016. The adoption of ASU2014-12 is not expected to have a material impact on the Company's condensed consolidated interim financial statements

Description of Business and S20

Description of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Fixed Assets	Equipment is recorded at cost less accumulated depreciation. All equipment is depreciated over its estimated useful life at the following annual rates: Computer equipment 30% declining balance Equipment 20% declining balance

Marketable Securities and Inv21

Marketable Securities and Investments (Tables)	3 Months Ended
	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Available for Sale Securities	The following table summarizes the Company’s available-for sale securities on hand as of September 30, 2015 and June 30, 2015: Cost Impairment Charge Adjusted Gross Unrealized Losses Gross Unrealized Gains Fair Marketable securities at September 30, 2015 $ 69,850 — 69,850 69,072 — $ 778 Marketable securities at June 30, 2015 $ 69,850 — 69,850 55,193 — $ 14,657

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	The following table sets forth the Company’s financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by ASC 820, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value at September 30, 2015 June 30, 2015 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 8,278,343 8,278,343 — — $ 9,282,534 Marketable Securities $ 778 — — 778 $ 14,657

Capital Stock (Tables)

Capital Stock (Tables)	3 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Summary of Option Activity Under Stock Incentive and Compensation Plan	A summary of option activity under the Stock Incentive and Compensation Plan as of September 30, 2015, and changes during the three month period ended is presented below. Options Shares Weighted Average Exercise Weighted-Average Remaining Aggregate Intrinsic Outstanding at July 1, 2015 995,000 $ 1.53 Granted — — Exercised — — Forfeited or expired — — Outstanding at September 30, 2015 995,000 $ 1.53 4.75 — Exercisable at September 30, 2015 331,670 $ 1.53 4.75 —
Summary of Status of Non-Vested Shares	A summary of the status of Paramount’s non-vested shares as of June 30, 2015 and changes during the year ended June 30, 2015 is presented below. Nonvested Options Shares Weighted- Average Value Nonvested at July 1, 2015 663,330 $ 1.13 Granted — — Vested — — Forfeited — — Nonvested at September 30, 2015 663,330 $ 1.13

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Allocated Expenses from Parent	For the three month period ended September 30, 2015 and 2014, the Company’s allocated expenses from PGSC were as follows: Period Ended Period Ended 2015 2014 Allocated expenses included in: Exploration $ - $ 3,700 Professional fees - 49,217 Directors compensation - 15,218 Total $ - $ 68,135

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Sep. 30, 2015
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on Mineral Properties	The Company has capitalized acquisition costs on mineral properties as follows: September 30, 2015 June 30, 2015 Sleeper $ 25,554,090 $ 25,554,090 Mill Creek 2,096,616 2,096,616 Spring Valley 385,429 385,429 $ 28,036,135 $ 28,036,135

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2015
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	At September 30, 2015, and June 30, 2015, property and equipment consisted of the following: September 30, 2015 June 30, 2015 Computer equipment $ 14,477 $ 8,000 Equipment 1,329 1,329 Subtotal 15,806 9,329 Accumulated depreciation (2,879 ) (1,333 ) Total $ 12,927 $ 7,996

Reclamation and Environmental (

Reclamation and Environmental (Tables)	3 Months Ended
	Sep. 30, 2015
Environmental Remediation Obligations [Abstract]
Changes to Asset Retirement Obligation	Changes to the Company’s asset retirement obligations for the three month period year ended September 30, 2015 are as follows: September 30, 2015 June 30, 2015 Balance at beginning of period $ 1,294,497 $ 1,291,066 Accretion expense 36,998 134,768 Payments - (131,337 ) Balance at end of period $ 1,331,495 $ 1,294,497

Other Income (Tables)

Other Income (Tables)	3 Months Ended
	Sep. 30, 2015
Other Income [Abstract]
Other Income Details	The Company’s other income details were as follows: Three Month Period Three Month Period 2015 2014 Re-imbursement of reclamation costs $ - $ 25,386 Leasing of water rights to third party 5,202 5,100 Total $ 5,202 $ 30,486

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Schedule of Aggregate Minimum Rentals Payable for Operating Leases	During the three month period ended September 30, 2015, the Company entered into office premises leases that expire at various dates until June 30, 2018. The aggregate minimum rentals payable for these operating leases are as follow: Year Total Amount 2016 $ 22,366 2017 $ 19,444 2018 $ 18,400

Description of Business and S30

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Millions	Apr. 17, 2015$ / sharesshares	Sep. 30, 2015USD ($)$ / shares	Jun. 30, 2015$ / sharesshares
Accounting Policies [Line Items]
Common stock, par value | $ / shares	$ 0.01	$ 0.01	$ 0.01
Concentration of credit risk uninsured cash amount | $		$ 8
Cash, Uninsured Amount, Commentary		We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss
Common Stock
Accounting Policies [Line Items]
Capital issued for Spin-off transaction (in shares)			8,101,371
Spinoff
Accounting Policies [Line Items]
Stockholders equity, spinoff description		On the distribution date, stockholders of PGSC received one share of Company common stock for every twenty shares of PGSC common stock held.
Stockholders equity, spinoff conversion ratio	0.05
Spinoff | Common Stock
Accounting Policies [Line Items]
Capital issued for Spin-off transaction (in shares)	8,101,371
Paramount Gold and Silver Corp.
Accounting Policies [Line Items]
Parent's ownership interest		100.00%

Fixed Assets (Details)

Fixed Assets (Details)	3 Months Ended
	Sep. 30, 2015
Computer equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	30.00%
Equipment
Property Plant And Equipment [Line Items]
Percentage of annual amortization rate on declining balance (in hundredths)	20.00%

Available for Sale Securities (

Available for Sale Securities (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Investments Debt And Equity Securities [Abstract]
Cost Basis	$ 69,850	$ 69,850
Adjusted Cost	69,850	69,850
Gross Unrealized Losses	69,072	55,193
Fair Value	$ 778	$ 14,657

Marketable Securities and Inv33

Marketable Securities and Investments - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Investments Debt And Equity Securities [Abstract]
Unrealized loss on marketable securities	$ 13,879
Unrealized gain on marketable securities		$ 123,665

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	$ 778	$ 14,657
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,278,343	9,282,534
Fair Value	778	$ 14,657
Fair Value, Measurements, Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,278,343
Fair Value, Measurements, Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	$ 778

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Nonmonetary Transactions [Abstract]
Amount of non-cash activities	$ 0	$ 0

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	Apr. 17, 2015	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Feb. 19, 2015	Jun. 30, 2014	Jun. 30, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares authorized		50,000,000	25,000	50,000,000
Capital stock, par value	$ 0.01	$ 0.01		$ 0.01
Common stock, no par value
Capital stock, shares issued		8,518,791	1,000	8,518,791
Capital stock, shares outstanding		8,518,791	1,000	8,518,791
Cancellation of treasury stock					1,000
Options, Granted		0
Total unrecognized compensation cost related to nonvested share based compensation		$ 597,821
Expected weighted-average period of unrecognized compensation cost		1 year 3 months 15 days
Total fair values shares vested		$ 0	$ 0
2015 Stock Incentive and Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term (in years), grants		5 years
2015 Stock Incentive and Compensation Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options and shares available for grant to employees		1,278,000
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares outstanding		8,518,791		8,518,791		1,000	1,000
Shares exchanged to PGSC stockholders for cancellation of treasury stock				8,101,371
Spinoff | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares exchanged to PGSC stockholders for cancellation of treasury stock	8,101,371

Summary of Option Activity Unde

Summary of Option Activity Under Stock Incentive and Compensation Plan (Details)	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares [Abstract]
Options, Granted	0
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	995,000
Options, Outstanding, Ending balance	995,000
Options, Exercisable at September 30, 2015	331,670
Weighted-Average Exercise Price [Abstract]
Options, Outstanding, Beginning balance | $ / shares	$ 1.53
Options, Outstanding, Ending balance | $ / shares	1.53
Options, Exercisable at September 30, 2015 | $ / shares	$ 1.53
Options, Outstanding at September 30, 2015	4 years 9 months
Options, Exercisable at September 30, 2015	4 years 9 months

Summary of Status of Non-Vested

Summary of Status of Non-Vested Shares (Details)	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Shares [Abstract]
Nonvested Options, Beginning balance	663,330
Options, Granted	0
Nonvested Options, Ending balance	663,330
Weighted-Average Grant-Date Fair Value [Abstract]
Nonvested Options, Beginning balance | $ / shares	$ 1.13
Nonvested Options, Ending balance | $ / shares	$ 1.13

Allocated Expenses from Parent

Allocated Expenses from Parent (Details) - Paramount Gold and Silver Corp.	3 Months Ended
	Sep. 30, 2014USD ($)
Related Party Transaction [Line Items]
Allocated expense	$ 68,135
Exploration
Related Party Transaction [Line Items]
Allocated expense	3,700
Professional fees
Related Party Transaction [Line Items]
Allocated expense	49,217
Directors compensation
Related Party Transaction [Line Items]
Allocated expense	$ 15,218

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Related Party Transaction [Line Items]
Directors compensation	$ 51,265	$ 10,722
Director
Related Party Transaction [Line Items]
Directors compensation	19,718	8,477
Non-cash transaction to recognize stock based compensation for directors	31,548	$ 2,245
Prepaid expenses	$ 19,717

Capitalized Acquisition Costs o

Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Mineral Properties [Line Items]
Mineral properties, net	$ 28,036,135	$ 28,036,135
Sleeper
Mineral Properties [Line Items]
Mineral properties, net	25,554,090	25,554,090
Mill Creek
Mineral Properties [Line Items]
Mineral properties, net	2,096,616	2,096,616
Spring Valley
Mineral Properties [Line Items]
Mineral properties, net	$ 385,429	$ 385,429

Mineral Properties - Additional

Mineral Properties - Additional Information (Details) - Nevada	Sep. 30, 2015mi²aMiningClaim
Sleeper Gold Mine
Mineral Properties [Line Items]
Unpatented mining claims	2,322
Area covered by lode mining claims | mi²	72.5
Mill Creek property
Mineral Properties [Line Items]
Area covered by lode mining claims | a	720
Unpatented lode mining claims	36
Spring Valley property
Mineral Properties [Line Items]
Area covered by lode mining claims | a	760
Unpatented lode mining claims	38

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 15,806	$ 9,329
Accumulated depreciation	(2,879)	(1,333)
Total	12,927	7,996
Computer equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	14,477	8,000
Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 1,329	$ 1,329

Property and Equipment - Additi

Property and Equipment - Additional Information (Details)	3 Months Ended
	Sep. 30, 2015USD ($)
Property Plant And Equipment [Abstract]
Net additions to property and equipment	$ 6,477
Depreciation	$ 1,546

Reclamation and Environmental -

Reclamation and Environmental - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Site Contingency [Line Items]
Commutation account	$ 2,506,911	$ 2,499,396
Sleeper Gold Mine
Site Contingency [Line Items]
Maximum reclamation costs covered by insurance policy	25,000,000
Prepaid insurance	61,300	73,561
Commutation account	2,506,911	$ 2,499,396
Undiscounted estimate of reclamation costs	$ 3,915,626
Credit adjusted risk free rate	9.76%	9.76%
Inflation rate	2.00%	2.00%

Changes to Asset Retirement Obl

Changes to Asset Retirement Obligation (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of period	$ 1,294,497	$ 1,291,066	$ 1,291,066
Accretion (Note 10)	36,998	$ 33,692	134,768
Payments			(131,337)
Balance at end of period	$ 1,331,495		$ 1,294,497

Other Income Details (Details)

Other Income Details (Details) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other Income [Abstract]
Re-imbursement of reclamation costs		$ 25,386
Leasing of water rights to third party	$ 5,202	5,100
Total	$ 5,202	$ 30,486

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Sep. 30, 2015USD ($)Claim
Commitments And Contingencies Disclosure [Abstract]
Name of defendants	The Company, PGSC, members of PGSC’s board, Coeur, and Hollywood Merger Sub, Inc.
Number of class action suits	6
Net rental expense | $	$ 6,804

Commitments and Contingencies49

Commitments and Contingencies - Schedule of Aggregate Minimum Rentals Payable for Operating Lease (Details)	Sep. 30, 2015USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,016	$ 22,366
2,017	19,444
2,018	$ 18,400