Paramount Gold Nevada (PZG) 10-Q 9 Nov 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
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	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Trading Symbol	PZG
Entity Common Stock, Shares Outstanding		15,689,954

Condensed Consolidated Interim

Condensed Consolidated Interim Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Current Assets
Cash and cash equivalents	$ 3,717,063	$ 5,874,258
Prepaid and deposits	533,966	175,383
Accounts receivable	15,060
Promissory note receivable (Note 3)		808,187
Other assets		561,997
Prepaid insurance, current portion (Note 9)	12,256	24,517
Total Current Assets	4,278,345	7,444,342
Non-Current Assets
Mineral properties (Note 7)	46,460,386	25,674,658
Property and equipment (Note 8)	13,794	14,896
Reclamation bond (Note 9)	2,353,417	2,350,131
Total Non-Current Assets	48,827,597	28,039,685
Total Assets	53,105,942	35,484,027
Current Liabilities
Accounts payable and accrued liabilities	539,107	175,801
Reclamation and environmental obligation, current portion (Note 9)	384,099	384,099
Total Current Liabilities	923,206	559,900
Non-Current Liabilities
Reclamation and environmental obligation, non-current portion (Note 9)	1,052,262	1,017,940
Total Liabilities	1,975,468	1,577,840
Stockholders' Equity
Common stock, par value $0.01, 50,000,000 authorized shares, 15,689,954 issued and outstanding at September 30, 2016 and 8,518,791 issued and outstanding at June 30, 2016	156,900	85,188
Additional paid in capital	80,342,462	65,143,383
Deficit	(29,368,888)	(31,322,384)
Total Stockholders' Equity	51,130,474	33,906,187
Total Liabilities and Stockholders' Equity	$ 53,105,942	$ 35,484,027

Condensed Consolidated Interim3

Condensed Consolidated Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	15,689,954	8,518,791
Common stock, shares outstanding	15,689,954	8,518,791

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss\Income (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Revenue
Other income (Note 10)	$ 5,306	$ 5,202
Total Revenue	5,306	5,202
Expenses
Exploration	537,371	274,875
Land holding costs	154,611	84,522
Professional fees	47,991	50,828
Salaries and benefits	264,843	208,291
Directors compensation	45,029	51,265
General and administrative	142,055	58,216
Insurance	42,996	41,940
Depreciation	1,102	1,546
Accretion (Note 9)	34,322	36,998
Total Expenses	1,270,320	808,481
Net Loss before other Expense (Income)	1,265,014	803,279
Other Expense (Income)
Interest income	(3,286)	(1,361)
Interest and service charges	194	75
Net Loss before income taxes	1,261,922	801,993
Income taxes
Deferred tax recovery (Note 3)	(3,215,418)
Net Loss (Income)	(1,953,496)	801,993
Other comprehensive loss
Unrealized loss on available-for-sale-securities		13,879
Total Comprehensive Loss (Income) for the Period	$ (1,953,496)	$ 815,872
Loss (Income) per Common Share
Basic	$ (0.13)	$ 0.09
Diluted	$ (0.13)	$ 0.09
Weighted Average Number of Common Shares Used in Per Share Calculations
Basic	15,144,322	8,518,791
Diluted	15,424,838	8,518,791

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, 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 income (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
Stock based compensation	570,837		570,837
Unrealized gain (loss) on marketable securities	55,193				$ 55,193
Net income (loss)	(5,342,172)			(5,342,172)
Balance at Jun. 30, 2016	$ 33,906,187	$ 85,188	65,143,383	(31,322,384)
Balance (in shares) at Jun. 30, 2016	8,518,791	8,518,791
Stock based compensation	$ 67,925		67,925
Capital issued for acquisition	15,202,866	$ 71,712	15,131,154
Capital issued for acquisition (in shares)		7,171,163
Net income (loss)	1,953,496			1,953,496
Balance at Sep. 30, 2016	$ 51,130,474	$ 156,900	$ 80,342,462	$ (29,368,888)
Balance (in shares) at Sep. 30, 2016	15,689,954	15,689,954

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement Of Cash Flows [Abstract]
Net Income (Loss)	$ 1,953,496	$ (801,993)
Adjustment for:
Depreciation	1,102	1,546
Stock based compensation	67,925	139,547
Accretion expense (Note 9)	34,322	36,998
Interest earned on reclamation bond	(3,286)	(7,515)
Insurance expense	12,261	12,261
Deferred tax recovery	(3,215,418)
(Increase) decrease in accounts receivable	(15,060)	37,071
(Increase) decrease in prepaid expenses	(358,583)	(301,088)
Increase (decrease) in accounts payable	363,306	(114,541)
Cash used in operating activities	(1,159,935)	(997,714)
Acquisition of Calico	(1,001,623)
Cash acquired in Calico transaction	4,363
Purchase of equipment		(6,477)
Cash used in investing activities	(997,260)	(6,477)
Change in cash during period	(2,157,195)	(1,004,191)
Cash at beginning of period	5,874,258	9,282,534
Cash at end of period	$ 3,717,063	$ 8,278,343

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2016
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, Sleeper Mining Company, LLC, Calico Resources Corp (“Calico”) and Calico Resources USA Corp. 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 failing to secure additional funding to advance its projects and to date has not determined whether these properties contain reserves that are economically recoverable. The Company’s shares of common stock trade on the NYSE MKT 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 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, 2016. 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 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, 2016, the balances of approximately $3.4 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. 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. Loss/Income per Common 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. For the three month period ended September 30, 2015, 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 the period. 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, 2016
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Guidance	Note 2. Recent Accounting Guidance In August 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230), ” which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated cash flows.

Acquisitions

Acquisitions	3 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	Note 3. Acquisitions On July 7, 2016 0.07 The transaction was accounted for as an asset acquisition, as Calico is an exploration stage project, which requires that the total purchase price be allocated to the assets acquired and liabilities assumed based on their relative fair values. Transaction advisory fees and other acquisition costs incurred prior to the closing of the transaction were recorded as Other Assets on the Balance Sheet. The purchase price and acquired assets and liabilities were as follows: Common shares issued (7,171,163 at $2.12) $ 15,202,866 Transaction advisory fees and other acquisition costs 795,925 Total purchase price 15,998,791 Assets: Cash 4,363 Receivables and other current assets 28,093 Mineral properties 20,785,728 20,818,184 Liabilities: Accounts payable and accrued liabilities 1,603,975 Deferred income taxes 3,215,418 4,819,393 Net assets acquired $ 15,998,791 The promissory note issued to Calico as at June 30, 2016 of $808,187 has been eliminated in consolidation as at September 30, 2016. Pursuant to the acquisition of Calico, the Company recorded a deferred tax liability of $3,215,418. The Company determined that it would be able to utilize the benefit of its tax operating loss carryforwards and adjusted its valuation allowance to recognize the benefit of these previously unrecognized deferred tax assets in order to offset the deferred tax liability. Accordingly, the Company recognized a deferred tax recovery of $3,215,418.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2016
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, 2016 June 30, 2016 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3,717,063 3,717,063 — — $ 5,874,258 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. .

Non-Cash Transactions

Non-Cash Transactions	3 Months Ended
	Sep. 30, 2016
Nonmonetary Transactions [Abstract]
Non-Cash Transactions	Note 5. Non-Cash Transactions During the three month period ended September 30, 2016, the Company issued 7,171,163 shares of its common stock with a value of $15,202,866 for the acquisition of Calico Resources Corp.

Capital Stock

Capital Stock	3 Months Ended
	Sep. 30, 2016
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 (June 30, 2016 – 50,000,000 common shares with par value $0.01 per common share). At September 30, 2016 there were 15,689,954 common shares issued and outstanding (June 30, 2016- 8,518,791 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 fair value of option awards that have market conditions are estimated on the date of grant using a Monte-Carlo Simulation valuation model. The award’s grant date fair value is determined by taking the average of the grant date fair values under each of many Monte Carlo trials. The key assumptions used in the simulations were as follows: 2016 2015 Weighted average risk-free interest rate 1.26 % — Weighted average volatility 70.26 % — Weighted average fair value $ 1.22 — The fair value of option awards that do not have market conditions are estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. Because Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Given Paramount’s short history as a public company, expected volatilities are based on, historical volatilities from five proxy companies’ stock. Paramount uses historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. 2016 2015 Weighted average risk-free interest rate 1.26 % — Weighted-average volatility 70.26 % — Expected dividends $ 0.00 — Weighted average expected term (years) 5.00 — Weighted average fair value $ 1.23 — A summary of option activity under the Stock Incentive and Compensation Plan as of September 30, 2016, and changes during the three month period ended is presented below. Options Options Weighted Average Exercise Weighted- Average Remaining Contractual Term Aggregate Intrinsic ($) Outstanding at July 1, 2016 995,000 $ 1.53 Granted 50,000 2.12 Exercised — — Forfeited or expired — — Outstanding at September 30, 2016 1,045,000 $ 1.56 3.70 $ 477,600 Exercisable at September 30, 2016 680,005 $ 1.53 4.25 $ 318,404 A summary of the status of Paramount’s non-vested shares as of July 1, 2016 and changes during the three month period ended September 30, 2016 is presented below. Non-vested Options Shares Weighted- Average Date Fair Value Non-vested at July 1, 2016 663,330 $ 1.13 Granted 50,000 1.23 Vested 348,335 1.14 Forfeited — — Non-vested at September 30, 2016 364,995 $ 1.14 As of September 30, 2016, there was $175,505 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 0.86 years. The total fair value of shares vested during the three month period ended September 30, 2016 and 2015, was $351,236 and $nil, respectively.

Mineral Properties

Mineral Properties	3 Months Ended
	Sep. 30, 2016
Mineral Industries Disclosures [Abstract]
Mineral Properties	Note 7. Mineral Properties The Company has capitalized acquisition costs on mineral properties as follows: September 30, 2016 June 30, 2016 Sleeper $ 25,674,658 $ 25,674,658 Grassy Mountain 20,785,728 — $ 46,460,386 $ 25,674,658 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. 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. It consists of 418 unpatented lode claims, 3 patented lode claims, 9 mill site claims, 6 association placer claims, and various leased fee land surface and surface/mineral rights, all totaling roughly 9,300 acres

Property and Equipment

Property and Equipment	3 Months Ended
	Sep. 30, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	Note 8. Property and Equipment: At September 30, 2016, and June 30, 2016, property and equipment consisted of the following: September 30, 2016 June 30, 2016 Computer equipment $ 18,806 $ 18,806 Equipment 1,329 1,329 Subtotal 20,135 20,135 Accumulated depreciation (6,341 ) (5,239 ) Total $ 13,794 $ 14,896 During the three month period ended September 30, 2016, net additions to property, and equipment were $nil (2015- $6,477). During the three month period ended September 30, 2016 the Company recorded depreciation of $1,102 (2015-$1,546).

Reclamation and Environmental

Reclamation and Environmental	3 Months Ended
	Sep. 30, 2016
Environmental Remediation Obligations [Abstract]
Reclamation and Environmental	Note 9. Reclamation and Environmental: The Company holds an insurance policy which is in effect until 2033 related to its Sleeper Gold Project. The policy covers reclamation costs up to an aggregate of $25 million in the event the Company’s bond is insufficient to cover any mandated reclamation obligations. The unamortized insurance premium is being amortized to December 31, 2016 and the current and non-current prepaid insurance balance at September 30, 2016 is $12,256 (June 30, 2016 - $24,517). 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, 2016 is $2,353,417 (June 30, 2016 - $2,350,131). 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 $ 3,835,050 Changes to the Company’s asset retirement obligations for the three month period ended September 30, 2016 and the year ended June 30, 2016 are as follows: Three June 30, 2016 Balance at beginning of period $ 1,402,039 $ 1,294,497 Accretion expense 34,322 147,992 Payments — (161,018 ) Change in estimate of existing obligation — 120,568 Balance at end of period $ 1,436,361 $ 1,402,039 The balance of the asset retirement obligation of $1,436,361 (June 30, 2016 -$1,402,039 ) is comprised of a current portion of $384,099 (June 30, 2016 -$384,099 ) and a non-current portion of $1,052,262 (June 30, 2016 -$1,017,940 ).

Other Income

Other Income	3 Months Ended
	Sep. 30, 2016
Other Income [Abstract]
Other Income	Note 10. Other Income The Company’s other income details were as follows: Three Month Period Three Month Period 2016 2015 Leasing of water rights to third party 5,306 5,202 Total $ 5,306 $ 5,202

Segmented Information

Segmented Information	3 Months Ended
	Sep. 30, 2016
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 period ended September 30, 2016: Exploration Expenses Land Holding Costs Mineral Properties As at September 30, 2016 Sleeper Gold Project $ 96,630 $ 115,482 $ 25,674,658 Grassy Mountain Project 440,741 39,129 20,785,728 $ 537,371 $ 154,611 $ 46,460,386 Expenses for the period ended September 30, 2015 and mineral property carrying values as at June 30, 2016 by material project: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2016 Sleeper Gold Project $ 274,875 $ 84,522 $ 25,674,658 Grassy Mountain Project — — — $ 274,875 $ 84,522 $ 25,674,658

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies: Lease Commitments During the three month period ended September 30, 2016, the Company has office premises leases that expire at various dates until June 30, 2018. The aggregate minimum rentals payable for these operating leases are as follows: Year Total Amount 2017 $ 15,083 2018 $ 18,400 During the three month period ended September 30, 2016, $7,951 was recognized as rent expense in the statement of operations and comprehensive loss/income.

Description of Business and S19

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2016
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 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, 2016.
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 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, 2016, the balances of approximately $3.4 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.
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.
Loss/Income per Common Share	Loss/Income per Common 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. For the three month period ended September 30, 2015, 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 the period.
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 2016, the FASB issued ASU 2016-15, “ Statement of Cash Flows (Topic 230), ” which provides guidance on presentation and classification of certain cash receipts and payments in the statement of cash flows. These changes become effective for the Company's fiscal year beginning July 1, 2018. The Company is currently evaluating the potential impact of implementing these changes on the Company's consolidated cash flows.

Description of Business and S20

Description of Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2016
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

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Sep. 30, 2016
Calico Resources Corp.
Schedule of Purchase Price and Acquired Assets and Liabilities	The purchase price and acquired assets and liabilities were as follows: Common shares issued (7,171,163 at $2.12) $ 15,202,866 Transaction advisory fees and other acquisition costs 795,925 Total purchase price 15,998,791 Assets: Cash 4,363 Receivables and other current assets 28,093 Mineral properties 20,785,728 20,818,184 Liabilities: Accounts payable and accrued liabilities 1,603,975 Deferred income taxes 3,215,418 4,819,393 Net assets acquired $ 15,998,791

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2016
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, 2016 June 30, 2016 Assets Total Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3,717,063 3,717,063 — — $ 5,874,258

Capital Stock (Tables)

Capital Stock (Tables)	3 Months Ended
	Sep. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
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, 2016, and changes during the three month period ended is presented below. Options Options Weighted Average Exercise Weighted- Average Remaining Contractual Term Aggregate Intrinsic ($) Outstanding at July 1, 2016 995,000 $ 1.53 Granted 50,000 2.12 Exercised — — Forfeited or expired — — Outstanding at September 30, 2016 1,045,000 $ 1.56 3.70 $ 477,600 Exercisable at September 30, 2016 680,005 $ 1.53 4.25 $ 318,404
Summary of Status of Non-Vested Shares	A summary of the status of Paramount’s non-vested shares as of July 1, 2016 and changes during the three month period ended September 30, 2016 is presented below. Non-vested Options Shares Weighted- Average Date Fair Value Non-vested at July 1, 2016 663,330 $ 1.13 Granted 50,000 1.23 Vested 348,335 1.14 Forfeited — — Non-vested at September 30, 2016 364,995 $ 1.14
Option awards with performance conditions | Monte-Carlo Simulation valuation model
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Changes in Fair Value Assumptions	The key assumptions used in the simulations were as follows: 2016 2015 Weighted average risk-free interest rate 1.26 % — Weighted average volatility 70.26 % — Weighted average fair value $ 1.22 —
Option awards without performance conditions | Black-Scholes option valuation model
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Changes in Fair Value Assumptions	The fair value of option awards that do not have market conditions are estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. Because Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Given Paramount’s short history as a public company, expected volatilities are based on, historical volatilities from five proxy companies’ stock. Paramount uses historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. 2016 2015 Weighted average risk-free interest rate 1.26 % — Weighted-average volatility 70.26 % — Expected dividends $ 0.00 — Weighted average expected term (years) 5.00 — Weighted average fair value $ 1.23 —

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Sep. 30, 2016
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs on Mineral Properties	The Company has capitalized acquisition costs on mineral properties as follows: September 30, 2016 June 30, 2016 Sleeper $ 25,674,658 $ 25,674,658 Grassy Mountain 20,785,728 — $ 46,460,386 $ 25,674,658

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Sep. 30, 2016
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	At September 30, 2016, and June 30, 2016, property and equipment consisted of the following: September 30, 2016 June 30, 2016 Computer equipment $ 18,806 $ 18,806 Equipment 1,329 1,329 Subtotal 20,135 20,135 Accumulated depreciation (6,341 ) (5,239 ) Total $ 13,794 $ 14,896

Reclamation and Environmental (

Reclamation and Environmental (Tables)	3 Months Ended
	Sep. 30, 2016
Environmental Remediation Obligations [Abstract]
Changes to Asset Retirement Obligation	Changes to the Company’s asset retirement obligations for the three month period ended September 30, 2016 and the year ended June 30, 2016 are as follows: Three June 30, 2016 Balance at beginning of period $ 1,402,039 $ 1,294,497 Accretion expense 34,322 147,992 Payments — (161,018 ) Change in estimate of existing obligation — 120,568 Balance at end of period $ 1,436,361 $ 1,402,039

Other Income (Tables)

Other Income (Tables)	3 Months Ended
	Sep. 30, 2016
Other Income [Abstract]
Other Income Details	The Company’s other income details were as follows: Three Month Period Three Month Period 2016 2015 Leasing of water rights to third party 5,306 5,202 Total $ 5,306 $ 5,202

Segmented Information (Table)

Segmented Information (Table)	3 Months Ended
	Sep. 30, 2016
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 period ended September 30, 2016: Exploration Expenses Land Holding Costs Mineral Properties As at September 30, 2016 Sleeper Gold Project $ 96,630 $ 115,482 $ 25,674,658 Grassy Mountain Project 440,741 39,129 20,785,728 $ 537,371 $ 154,611 $ 46,460,386 Expenses for the period ended September 30, 2015 and mineral property carrying values as at June 30, 2016 by material project: Exploration Expenses Land Holding Costs Mineral Properties As at June 30, 2016 Sleeper Gold Project $ 274,875 $ 84,522 $ 25,674,658 Grassy Mountain Project — — — $ 274,875 $ 84,522 $ 25,674,658

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Schedule of Aggregate Minimum Rentals Payable for Operating Leases	During the three month period ended September 30, 2016, the Company has office premises leases that expire at various dates until June 30, 2018. The aggregate minimum rentals payable for these operating leases are as follows: Year Total Amount 2017 $ 15,083 2018 $ 18,400

Description of Business and S30

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)
Accounting Policies [Abstract]
Concentration of credit risk uninsured cash amount	$ 3.4
Cash, Uninsured Amount, Description	We deposit our cash with financial institutions which we believe have sufficient credit quality to minimize the risk of loss

Fixed Assets (Details)

Fixed Assets (Details)	3 Months Ended
	Sep. 30, 2016
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%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	Jul. 07, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Deferred tax recovery		$ 3,215,418
Calico Resources Corp.
Business Acquisition [Line Items]
Business acquisition date	Jul. 7, 2016
Percentage of stock converted into shares of common stock	7.00%
Eliminated promissory note		$ 808,187
Deferred tax liability	$ 3,215,418
Deferred tax recovery	$ 3,215,418

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price and Acquired Assets and Liabilities (Details) - Calico Resources Corp. - USD ($)	Jul. 07, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Transaction advisory fees and other acquisition costs	$ 795,925
Total purchase price	15,998,791
Assets:
Cash	4,363
Receivables and other current assets	28,093
Mineral properties	20,785,728
Total acquired assets	20,818,184
Liabilities:
Accounts payable and accrued liabilities	1,603,975
Deferred income taxes	3,215,418
Total acquired liabilities	4,819,393
Net assets acquired	15,998,791
Common Stock
Business Acquisition [Line Items]
Common shares issued (7,171,163 at $2.12)	$ 15,202,866	$ 15,202,866

Acquisitions - Schedule of Pu34

Acquisitions - Schedule of Purchase Price and Acquired Assets and Liabilities (Parenthetical) (Details) - Calico Resources Corp. - Common Stock - $ / shares	Jul. 07, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Common shares issued, shares	7,171,163	7,171,163
Common shares issued ,share price	$ 2.12

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 3,717,063	$ 5,874,258
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 3,717,063

Non-Cash Transactions - Additio

Non-Cash Transactions - Additional Information (Details) - Calico Resources Corp. - Common Stock - USD ($)	Jul. 07, 2016	Sep. 30, 2016
Nonmonetary Transaction [Line Items]
Common shares issued for acquisition	7,171,163	7,171,163
Value of common shares issued for acquisition	$ 15,202,866	$ 15,202,866

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Capital stock, shares authorized	50,000,000		50,000,000
Capital stock, par value	$ 0.01		$ 0.01
Capital stock, shares issued	15,689,954		8,518,791
Capital stock, shares outstanding	15,689,954		8,518,791
Total unrecognized compensation cost related to non-vested share based compensation	$ 175,505
Expected weighted-average period of unrecognized compensation cost	10 months 10 days
Total fair values shares vested	$ 351,236	$ 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

Schedule of Changes in Fair Val

Schedule of Changes in Fair Value Assumptions (Details) - $ / shares	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Monte-Carlo Simulation valuation model | Option awards with performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	1.26%
Weighted-average volatility	70.26%
Weighted average fair value	$ 1.22
Black-Scholes option valuation model | Option awards without performance conditions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average risk-free interest rate	1.26%
Weighted-average volatility	70.26%
Weighted average fair value	$ 1.23
Expected dividends	$ 0
Weighted average expected term (years)	5 years	0 years

Summary of Option Activity Unde

Summary of Option Activity Under Stock Incentive and Compensation Plan (Details)	3 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Shares [Abstract]
Options, Granted	50,000
Stock Options
Shares [Abstract]
Options, Outstanding, Beginning balance	995,000
Options, Granted	50,000
Options, Outstanding, Ending balance	1,045,000
Options, Exercisable at September 30, 2016	680,005
Weighted-Average Exercise Price [Abstract]
Options, Outstanding, Beginning balance | $ / shares	$ 1.53
Options, Granted | $ / shares	2.12
Options, Outstanding, Ending balance | $ / shares	1.56
Options, Exercisable at September 30, 2016 | $ / shares	$ 1.53
Options, Exercisable at September 30, 2016	3 years 8 months 12 days
Options, Exercisable at September 30, 2016	4 years 3 months
Aggregate Intrinsic Value, Outstanding, Ending Balance | $	$ 477,600
Aggregate Intrinsic Value, Exercisable, Ending Balance | $	$ 318,404

Summary of Status of Non-Vested

Summary of Status of Non-Vested Shares (Details)	3 Months Ended
	Sep. 30, 2016$ / sharesshares
Shares [Abstract]
Non-vested Options, Beginning balance | shares	663,330
Non-vested Options, Granted | shares	50,000
Non-vested Options, Vested | shares	348,335
Non-vested Options, Ending balance | shares	364,995
Weighted-Average Grant-Date Fair Value [Abstract]
Non-vested Options, Beginning balance | $ / shares	$ 1.13
Non-vested Options, Granted | $ / shares	1.23
Non-vested Options, Vested | $ / shares	1.14
Non-vested Options, Ending balance | $ / shares	$ 1.14

Capitalized Acquisition Costs o

Capitalized Acquisition Costs on Mineral Properties (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Mineral Properties [Line Items]
Mineral properties, net	$ 46,460,386	$ 25,674,658
Sleeper Gold Project
Mineral Properties [Line Items]
Mineral properties, net	25,674,658	$ 25,674,658
Grassy Mountain Project
Mineral Properties [Line Items]
Mineral properties, net	$ 20,785,728

Mineral Properties - Additional

Mineral Properties - Additional Information (Details)	Sep. 30, 2016mi²aMiningClaim
Sleeper Gold Project | Nevada
Mineral Properties [Line Items]
Unpatented mining claims	2,322
Area covered by lode mining claims | mi²	72.5
Grassy Mountain Project | Oregon
Mineral Properties [Line Items]
Unpatented lode mining claims	418
Patented lode mining claims	3
Mill site mining claims	9
Association placer claims	6
Area covered by mining claims | a	9,300

Schedule of Property and Equipm

Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2016	Jun. 30, 2016
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 20,135	$ 20,135
Accumulated depreciation	(6,341)	(5,239)
Total	13,794	14,896
Computer equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	18,806	18,806
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) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Property Plant And Equipment [Abstract]
Net additions to property and equipment		$ 6,477
Depreciation	$ 1,102	$ 1,546

Reclamation and Environmental -

Reclamation and Environmental - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Site Contingency [Line Items]
Commutation account	$ 2,353,417	$ 2,350,131
Asset retirement obligation	1,436,361	1,402,039	$ 1,294,497
Asset retirement obligation, current	384,099	384,099
Asset retirement obligation, noncurrent	1,052,262	1,017,940
Sleeper Gold Project
Site Contingency [Line Items]
Maximum reclamation costs covered by insurance policy	25,000,000
Prepaid insurance	12,256	24,517
Commutation account	2,353,417	$ 2,350,131
Undiscounted estimate of reclamation costs	$ 3,835,050
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, 2016	Sep. 30, 2015	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Balance at beginning of period	$ 1,402,039	$ 1,294,497	$ 1,294,497
Accretion expense (Note 9)	34,322	$ 36,998	147,992
Payments			(161,018)
Change in estimate of existing obligation			120,568
Balance at end of period	$ 1,436,361		$ 1,402,039

Other Income Details (Details)

Other Income Details (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Other Income [Abstract]
Leasing of water rights to third party	$ 5,306	$ 5,202
Total	$ 5,306	$ 5,202

Segmented Information - Schedul

Segmented Information - Schedule of Expenses and Mineral Property Carrying Values by Material Project (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Exploration	$ 537,371	$ 274,875
Land holding costs	154,611	84,522
Mineral properties, net	46,460,386		$ 25,674,658
Sleeper Gold Project
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Exploration	96,630	274,875
Land holding costs	115,482	$ 84,522
Mineral properties, net	25,674,658		$ 25,674,658
Grassy Mountain Project
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Exploration	440,741
Land holding costs	39,129
Mineral properties, net	$ 20,785,728

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Aggregate Minimum Rentals Payable for Operating Lease (Details)	Sep. 30, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,017	$ 15,083
2,018	$ 18,400

Commitments and Contingencies50

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Sep. 30, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
Net rental expense	$ 7,951