Golden River Resources 10-Q 9 Dec 14 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Sep. 30, 2014	Nov. 06, 2014
Document And Entity Information [Abstract]	'	'
Entity Registrant Name	'GOLDEN RIVER RESOURCES CORP.	'
Entity Central Index Key	'0000814904	'
Trading Symbol	'gorv	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock Shares Outstanding	'	56,807,283
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'

Consolidated_Balance_Sheet

Consolidated Balance Sheet (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Current Assets	'	'
Cash	'	$1
Receivables	43	44
Receivables - affiliates	52	56
Advances receivable	'	131
Prepaid expenses and deposits	'	1
Total Current Assets	95	233
Total Assets	95	233
Current Liabilities	'	'
Accounts payable and accrued expenses	132	113
Total Current Liabilities	132	113
Total Liabilities	132	113
Stockholders' Equity (Deficit):	'	'
Common Stock: $.0001 par value 400,000,000 shares authorized 56,807,408 issued and outstanding	5	5
Additional paid-in-capital	41,428	41,428
Less treasury stock at cost, 125 shares	-19	-19
Retained (deficit)	-41,451	-41,294
Total Stockholders' Equity (Deficit)	-37	120
Total Liabilities and Stockholders' Equity (Deficit)	$95	$233

Consolidated_Balance_Sheet_Par

Consolidated Balance Sheet (Parentheticals) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Statement Of Financial Position [Abstract]	'	'
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common Stock, shares authorized	400,000,000	400,000,000
Common Stock, shares issued	56,807,408	56,807,408
Common stock, shares outstanding	56,807,408	56,807,408
Treasury stock, shares	125	125

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'
Revenues	'	'
Costs and expenses:	'	'
Legal, accounting and professional	8	20
Administration expenses	21	42
Total costs and expenses	29	62
Foreign currency exchange (loss)	-142	'
Allowance for doubtful debt	14	-569
Gain on marketable investment	'	2
Other income/(expenses):	'	'
Interest income	'	1
(Loss) from operations before income taxes	-157	-628
Benefit for deferred income taxes	'	'
Net (loss)	-157	-628
Other comprehensive (loss):	'	'
Foreign currency translation adjustments	'	3
Comprehensive (loss)	($157)	($625)
Basic and diluted net (loss) per common equivalent shares (in dollars per share)	$0	($0.01)
Weighted average number of common equivalent shares used per share calculation (in shares)	56,807	56,807

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
CASH FLOW FROM OPERATING ACTIVITIES	'	'	'
Net (loss)	($157)	($628)	($961)
Adjustments to reconcile net (loss) to net cash provided by/(used in) operating activities	'	'	'
Foreign currency exchange loss	142	'	'
(Gain) on sale/revaluation of marketable investment	'	-2	'
Allowance for doubtful debt	-14	569	'
Net change net of disposition and acquisition in:	'	'	'
Receivables	132	'	'
Prepaid expenses and deposits	1	-1	'
Accounts payable and accrued expenses	19	-4	'
Net Cash Provided by/(Used) in Operating Activities	123	-66	'
CASH FLOW FROM FINANCING ACTIVITIES	'	'	'
Borrowings from affiliates	8	63	'
Advances and repayments to affiliates	-127	-631	'
Net Cash (Used) in Financing Activities	-119	-568	'
Effects of Exchange Rate on Cash	-5	'	'
Net (Decrease) in Cash	-1	-634	'
Cash at Beginning of Period	1	637	637
Total Cash at End of Period	'	3	1
Supplemental Disclosures	'	'	'
Interest Paid	'	'	'

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) (USD $)	Common Stock	Treasury Stock, at Cost	Additional Paid-in Capital	Retained Profit/(Deficit) during the Exploration stage	Total
In Thousands, except Share data
Balance at Jun. 30, 2013	$5	($19)	$41,428	($40,333)	$1,081
Balance (in shares) at Jun. 30, 2013	56,807,000	'	'	'	'
Net (loss)	'	'	'	-961	-961
Balance at Jun. 30, 2014	5	-19	41,428	-41,294	120
Balance (in shares) at Jun. 30, 2014	56,807,000	'	'	'	56,807,408
Net (loss)	'	'	'	-157	-157
Balance at Sep. 30, 2014	$5	($19)	$41,428	($41,451)	($37)
Balance (in shares) at Sep. 30, 2014	56,807,000	'	'	'	56,807,408

Organisation

Organisation	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Organisation	'
	1.             Organisation
	Golden River Resources Corporation (“Golden River Resources”) is incorporated in the State of Delaware. The principal shareholder of Golden River Resources is Northern Capital Resources Corp (“NCRC”) which owned 96.62% of Golden River Resources as of September 30, 2014.
	Golden River Resources was a gold exploration company.  On March 17, 2009, the Company announced that it had reached agreement with Acadian Mining Corporation (TSX: ADA) ("Acadian") to subscribe in private placement transactions for common shares in Acadian and since that time, it acquired an interest by June 30, 2011 of 71.48%.  Between January 2012 and June 2013 the Company sold a majority of its interest in Acadian and at June 30, 2013, it held a 0.50% interest in Acadian. On September 18, 2013, the Company converted a convertible note of US$402,000 into 3,500,000 shares in Acadian thus increasing its equity interest in Acadian to 6.53%. On October 11, 2013, Acadian and LionGold Corp. Ltd. ("LionGold") announced that they concluded the arrangement by which LionGold, compulsory acquired all of the common shares of Acadian that it did not already own. As a result, effective October 11, 2013, the Company no longer has an equity interest in Acadian. The Company is  now looking for new gold acquisitions interests.
	The financial statements presented herein have been prepared on a consolidated basis to include the accounts of Golden River Resources and its other subsidiaries (collectively “the Company”). All intercompany balances and transactions have been eliminated in consolidation.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
Recent Accounting Pronouncements	'
	2.             Recent Accounting Pronouncements
	In August 2014, the Financial Accounting Standards Board (“FASB”)  issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entities Ability to Continue as a Going Concern (ASU 2014-15). ).  The guidance in ASU 2014-15 sets forth management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern as well as required disclosures. ASU 2014-15 indicates that, when preparing financial statements for interim and annual financial statements, management should evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity's ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. This evaluation should include consideration of conditions and events that are either known or are reasonably knowable at the date the financial statements are issued or are available to be issued, as well as whether it is probable that management's plans to address the substantial doubt will be implemented and, if so, whether it is probable that the plans will alleviate the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods and annual periods thereafter. Early application is permitted.  The Company will evaluate the going concern considerations in this ASU however at the current period management does not believe that it has met conditions which would subject these financial statements for additional disclosure other than disclosed in Note 4.
	Other Recently Issued, but not Yet Effective Accounting Pronouncements
	Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	3.            SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The following is a summary of the significant accounting policy followed in connection with the preparation of the financial statements.
	Foreign Currency Translation
	Effective October 1, 2013, the Company’s functional and reporting currency is the United States dollar.  Revenue and expenses incurred in a currency other than the United States dollars are translated at the date incurred or invoiced. Assets and liabilities are re-valued at the period end exchange rate where appropriate. Gains or losses from foreign currency transactions are included in the results of operations.
	Prior to October 1, 2013, the Company’s functional and reporting currency was the Canadian dollar (CDN). The major asset of Company at September 30, 2013 was a marketable security held in a former consolidated entity. In October 2013 all shares held in in the former consolidated entity were compulsory acquired by a third party. As a result of the disposal of the investment, the Company’s revenue and expenses are no longer primarily denominated in Canadian dollars. ASC 830 Foreign Currency Translation, states that the functional currency of an entity is the currency of the primary economic environment in which the entity operates. Accordingly the Company determined that from October 1, 2013 the functional currency of the Company is the United States dollar (US$). Assets, liabilities and equity were translated at the rate of exchange at October 1, 2013 of CDN$1.00 =S$0.9704. Revenues and expenses were translated at rates at date of transaction.  The recasting of the Company’s assets, liabilities, revenue and expense into US dollars did not have a material impact on the consolidated financial statements. Translation gains and losses were not material and accordingly were included as part of operations.
	Restatement of comparative numbers was made for the change in functional and reporting currency.

GOING_CONCERN

GOING CONCERN	3 Months Ended
	Sep. 30, 2014
Going Concern [Abstract]	'
GOING CONCERN	'
	4.            GOING CONCERN
	The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. At September 30, 2014, the Company had not yet commenced revenue producing operations and had a retained deficit of US$41,451,000. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company will require additional funding for operations and this additional funding may be raised through debt or equity offerings. The Company has a debt due from AXIS Consultants Pty Ltd (AXIS) which is nearly fully offset by the allowance for doubtful debt. AXIS provides management services to the Company and the cost of these services reduces the amount of the debt. In addition, the Company has historically relied on loans and advances from corporations affiliated with the President of Golden River Resources and fund raising through the sale of equity instruments.  Based on discussions with these affiliate companies, the Company believes this source of funding will continue to be available. Other than the arrangements noted above, the Company has not confirmed any other arrangement for ongoing funding. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Affiliate_Transactions

Affiliate Transactions	3 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Affiliate Transactions	'
	5.            Affiliate Transactions
	Golden River Resources advances to and receives advances from various affiliates.
	The Company has entered into an agreement with AXIS Consultants Pty Ltd (“AXIS”) to provide geological, management and administration services to the Company. AXIS is affiliated through common management. The Company is one of nine affiliated companies to which AXIS provides services. Each of the companies has some common Directors, officers and shareholders. Golden River Resources holds a 9.09% interest in AXIS at a cost of A$1 and is accounted for under the cost method. Any profits generated by AXIS are returned to its shareholders in the form of dividends.
	During the three months ended September 30, 2014, AXIS repaid Golden River Resources US$8,000 and the Company advanced AXIS US$127,000 and an accrual was recorded for AXIS services provided in accordance with the service agreement of US$20,000. For the three months ended September 30, 2014, the foreign currency translation effect of the amount owing by AXIS was a loss of approximately US$137,000.  The amount owed by AXIS at September 30, 2014 is US$1,737,000. At September 30, 2014, management considered the recoverability of the amount owed by AXIS and in accordance with the requirements of accounting standards provided an additional US$14,000 provision for doubtful receivable. During the three months ended September 30, 2014, the Company did not charge interest.  At September 30, 2014, the provision for doubtful receivable amounts to US$1,685,000. The amount owed by AXIS (net of allowance) at September 30, 2014 under current assets – receivables from affiliates was US$52,000.
	The Company has made advances to AXIS in connection with the ongoing business relationship between the two parties, which have been disclosed in the Company’s SEC reports, but which are not specifically provided for in the AXIS Services Agreement.  In order to service its clients, AXIS is required to make ongoing expenditures for payroll, facilities and equipment that may exceed the amount of its cash receipts during particular periods, depending on the amount of services provided to its clients and the amount of fees received from such clients during these periods.  Historically, the shortfall in its cash receipts has been covered by cash advances from a number of the companies, which receive services from AXIS, including the Company.  The purpose of such advances is to assist AXIS in meeting its ongoing cash flow requirements in order to assure that AXIS has the necessary resources to provide services to the Company on an as needed basis. The parties are in discussions in relation to AXIS providing security to the Company for the amount outstanding and such discussions are anticipated to be concluded by the end of fiscal 2015. However no agreement has been reached to-date. Two of the Company’s directors (Mr Gutnick and Dr Tyrwhitt) are also directors of AXIS, Mr Lee is Chief Financial Officer and Company Secretary of AXIS and all owe fiduciary obligations to both parties. It is the intention of the Boards of Directors of AXIS and the Company that this issue be resolved in a manner that is fair to all parties and equitable to the shareholders of each, but there are no agreements or understandings addressing the priority or dispensation of fiduciary duties with respect to the discussions to resolve the amount outstanding owed by AXIS or any other conflict of interest with AXIS or other affiliates.
	During the three months ended September 30, 2013, AXIS repaid the Company US$63,000 and provided services in accordance with the service agreement of US$31,000 and the Company advanced AXIS US$631,000, before foreign currency translation of approximately US$171,000. For the three months ended September 30, 2013, the Company recorded an additional provision of US$569,000. During the three months ended September 30, 2013, the Company did not charge interest.  The amount owed by AXIS at September 30, 2013 was US$1,539,000. At September 30, 2013, management considered the recoverability of the amount owed by AXIS and in accordance with the requirements of accounting standards provided a provision for doubtful receivable for the full amount.
	During fiscal 2010, the Company sold shares of common stock to NCRC, a Nevada corporation, pursuant to certain subscription agreements. Mr Joseph Gutnick, the Company’s President, is the Chairman and Chief Executive Officer of NCRC.  In addition, Legend International Holdings, Inc., of which Mr. Gutnick is the Chairman and Chief Executive Officer and a principal stockholder, owns 31.46% of NCRC. As of September 30, 2014, NCRC owned approximately 96.6% of the outstanding common stock of the Company.
	During fiscal 2013, the Company advanced NCRC US$1,189,000 and after foreign exchange adjustments US$1,158,000 is the amount owed by NCRC at September 30, 2014. Management had previously considered the recoverability of the amount owed by NCRC and in accordance with the requirements of accounting standards provided a provision for doubtful receivable for the full amount.
	During fiscal 2013, Golden River advanced Acadian US$141,000 in funds for operating expenditures and incurred expenditures on behalf of Acadian of US$2,000. On September 25, 2014 the amount outstanding was repaid in full.

Issue_of_Options_under_Stock_O

Issue of Options under Stock Option Plan	3 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs Share based Payments [Abstract]	'
Issue of Options under Stock Option Plan	'
	6.             Issue of Options under Stock Option Plan
	In October 2004, the Board of Directors and Remuneration Committee of the Company adopted a Stock Option Plan. The Company issued 605,000 options under the plan. At September 30, 2014, the options are fully vested.
	Since the issue of the options, 120,000 options have lapsed following the termination of participants to the issue.
	A summary of the options outstanding and exercisable at September 30, 2014 are as follows:
		Outstanding		Outstanding		Exercisable		Exercisable
	Number of options		80,000		405,000		80,000		405,000
	Exercise price		US$10.00		US$3.08		US$10.00		US$3.08
	Expiration date	15-Oct-14		15-Oct-16		15-Oct-14		15-Oct-16

Loss_per_share

(Loss) per share	3 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
(Loss) per share	'
	7.             (Loss) per share
	The Company calculates (loss) per share in accordance with ASC Topic 260, Earnings per Share. Basic profit/(loss) per share is computed based on the weighted average number of common shares outstanding during the period.
	Options to acquire 485,000 shares of common stock were not included in the diluted weighted average shares outstanding as such effects would be anti-dilutive.

Fair_Value_Of_Financial_Instru

Fair Value Of Financial Instruments	3 Months Ended
	Sep. 30, 2014
Investments All Other Investments [Abstract]	'
Fair Value Of Financial Instruments	'
	8.             Fair Value Of Financial Instruments
	The Company’s financial instruments consist of cash, receivables, accounts payable and accrued expenses and advances due from affiliates. The carrying amounts of receivables, accounts payable and accrued expenses, advances receivable approximate their respective fair values because of the short maturities of these accounts. The fair values of advances due from affiliates are not practicable to estimate as no similar market exists for these instruments and as it does not have a specified date of repayment.
	Investments In and Receivable from Acadian
	During fiscal 2012, Golden River purchased US$408,000 (CDN$420,000) of debentures in its former consolidated subsidiary Acadian. The debentures were unsecured and convertible into common shares of Acadian at the holder’s option at a price of CDN$0.12 per common share. On September 18, 2013, the Company elected to convert the convertible note into 3,500,000 shares in Acadian.
	On October 11, 2013 Acadian and LionGold announced that they concluded the arrangement by which LionGold, through its wholly-owned subsidiary LionGold Mining Canada Inc. (formerly 9286-0930 Québec Inc.) compulsory acquired all of the common shares of Acadian ("Acadian Shares") that it did not already own (the "Arrangement").  Effective from that date, LionGold directly or indirectly owns 100% of the outstanding shares of Acadian. Under the Arrangement, Acadian shareholders (other than LionGold and its affiliates) received CDN$0.12 in cash for each Acadian Share. On October 17, 2013 the Company received US$402,000 for 3,509,998 shares it held in Acadian. The balance of the funds of US$28,000 (after currency translation) is expected to be received in fiscal 2015.

Income_Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	9.             Income Taxes
	The Company recognises deferred tax assets or liabilities for the expected future consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled.
	The Company is subject to taxation in both the USA and Canada.
	The Company’s net deferred taxes at September 30, 2014 is summarized as follows:
		USA			Canada			Total
		2014			2014			2014
		US$000s			US$000s			US$000s
	Deferred tax assets
	Net operating loss carry-forward		2,452			124			2,576
	Exploration expenditure		526			2,914			3,440
			2,978			3,038			6,016
	Less valuation allowance		(2,978	)		(3,038	)		(6,016	)
			-			-			-
	The Company’s net deferred taxes at June 30, 2014 is summarized as follows:
		USA			Canada			Total
		2014			2014			2014
		US$000s			US$000s			US$000s
	Deferred tax assets
	Net operating loss carry-forward		2,442			130			2,571
	Exploration expenditure		526			3,040			3,567
			2,968			3,170			6,138
	Less valuation allowance		(2,968	)		(3,170	)		(6,138	)
			-			-			-
	Total available net operating loss carryforwards in the United States, which are subject to limitations, amount to approximately US$7,005,000 at September 30, 2014 and expire in years 2023 through 2034. Net operating loss carryforwards in Canada do not have a definite expiration date and amounted to US$8,765,000.
	The Company’s tax years for all years since fiscal year ending June 30, 2011 remain open to most taxing authorities.

Subsequent_Events

Subsequent Events	3 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	10.          Subsequent Events
	The Company has evaluated events and transactions after the balance sheet date and, through the date the consolidated financial statements were issued and believes that all relevant disclosures have been included herein and there are no other events which require recognition or disclosure in the accompanying consolidated financial statements, other than disclosed herein.

Significant_Accounting_Policie

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Foreign Currency Translation	'
	Foreign Currency Translation
	Effective October 1, 2013, the Company’s functional and reporting currency is the United States dollar.  Revenue and expenses incurred in a currency other than the United States dollars are translated at the date incurred or invoiced. Assets and liabilities are re-valued at the period end exchange rate where appropriate. Gains or losses from foreign currency transactions are included in the results of operations.
	Prior to October 1, 2013, the Company’s functional and reporting currency was the Canadian dollar (CDN). The major asset of Company at September 30, 2013 was a marketable security held in a former consolidated entity. In October 2013 all shares held in in the former consolidated entity were compulsory acquired by a third party. As a result of the disposal of the investment, the Company’s revenue and expenses are no longer primarily denominated in Canadian dollars. ASC 830 Foreign Currency Translation, states that the functional currency of an entity is the currency of the primary economic environment in which the entity operates. Accordingly the Company determined that from October 1, 2013 the functional currency of the Company is the United States dollar (US$). Assets, liabilities and equity were translated at the rate of exchange at October 1, 2013 of CDN$1.00 =S$0.9704. Revenues and expenses were translated at rates at date of transaction.  The recasting of the Company’s assets, liabilities, revenue and expense into US dollars did not have a material impact on the consolidated financial statements. Translation gains and losses were not material and accordingly were included as part of operations.
	Restatement of comparative numbers was made for the change in functional and reporting currency.

Issue_of_Options_under_Stock_O1

Issue of Options under Stock Option Plan (Tables)	3 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs Share based Payments [Abstract]	'
Schedule summary of options outstanding and exercisable	'
		Outstanding		Outstanding		Exercisable		Exercisable
	Number of options		80,000		405,000		80,000		405,000
	Exercise price		US$10.00		US$3.08		US$10.00		US$3.08
	Expiration date	15-Oct-14		15-Oct-16		15-Oct-14		15-Oct-16

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of net deferred taxes	'
	The Company’s net deferred taxes at September 30, 2014 is summarized as follows:
		USA			Canada			Total
		2014			2014			2014
		US$000s			US$000s			US$000s
	Deferred tax assets
	Net operating loss carry-forward		2,452			124			2,576
	Exploration expenditure		526			2,914			3,440
			2,978			3,038			6,016
	Less valuation allowance		(2,978	)		(3,038	)		(6,016	)
			-			-			-
	The Company’s net deferred taxes at June 30, 2014 is summarized as follows:
		USA			Canada			Total
		2014			2014			2014
		US$000s			US$000s			US$000s
	Deferred tax assets
	Net operating loss carry-forward		2,442			130			2,571
	Exploration expenditure		526			3,040			3,567
			2,968			3,170			6,138
	Less valuation allowance		(2,968	)		(3,170	)		(6,138	)
			-			-			-

Organisation_Detail

Organisation (Detail) (USD $)	1 Months Ended
	Sep. 18, 2013	Jun. 30, 2013	Jun. 30, 2011	Sep. 30, 2014
	Acadian	Acadian	Acadian	Northern Capital Resources Corp ("NCRC")
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]	'	'	'	'
Percentage of parent company's equity owned by related parties	'	'	'	96.62%
Percentage of ownership interest acquired	'	'	71.48%	'
Percentage of ownership interest sold	'	0.50%	'	'
Percentage of ownership interest	6.53%	'	'	'
Convertible note	$402,000	'	'	'
Shares received upon conversion of note	3,500,000	'	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail)	Oct. 01, 2013
Accounting Policies [Abstract]	'
US dollars at foreign currency exchange rate per one Canadian dollar	0.9704

GOING_CONCERN_Details

GOING CONCERN (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Going Concern [Abstract]	'	'
Retained (deficit)	($41,451)	($41,294)

Affiliate_Transactions_Detail

Affiliate Transactions (Detail)	3 Months Ended			12 Months Ended	3 Months Ended			12 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Jun. 30, 2013	Sep. 30, 2014	Jun. 30, 2010
	USD ($)	USD ($)	USD ($)	Acadian	AXIS Consultants Pty Ltd ("AXIS")	AXIS Consultants Pty Ltd ("AXIS")	AXIS Consultants Pty Ltd ("AXIS")	Northern Capital Resources Corp ("NCRC")	Northern Capital Resources Corp ("NCRC")	Northern Capital Resources Corp ("NCRC")
				USD ($)	USD ($)	USD ($)	CAD	USD ($)		Legend International Holdings, Inc.
					Affiliate
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of affiliated companies under service agreement	'	'	'	'	9	'	'	'	'	'
Ownership interest	'	'	'	'	9.09%	'	'	'	'	'
Cost of ownership interest	'	'	'	'	'	'	1	'	'	'
Services provided in accordance with service agreement	'	'	'	'	20,000	31,000	'	'	'	'
Repayment of debt by affiliate	'	'	'	'	8,000	63,000	'	'	'	'
Amount advanced to affiliate	'	'	'	141,000	127,000	631,000	'	1,189,000	'	'
Foreign currency translation adjustments	'	3,000	'	'	137,000	171,000	'	'	'	'
Allowance for doubtful debt	-14,000	569,000	'	'	14,000	569,000	'	'	'	'
Provision for doubtful receivable	'	'	'	'	1,685,000	'	'	'	'	'
Receivables - affiliates	52,000	'	56,000	'	52,000	'	'	'	'	'
Advances receivable	'	'	'	'	1,737,000	1,539,000	'	1,158,000	'	'
Percentage of related party's equity owned by affiliated entities	'	'	'	'	'	'	'	'	'	31.46%
Percentage of parent company's equity owned by related parties	'	'	'	'	'	'	'	'	96.62%	'
Expenditure incurred on behalf of affiliate	'	'	'	$2,000	'	'	'	'	'	'

Issue_of_Options_under_Stock_O2

Issue of Options under Stock Option Plan - Summary of options outstanding and exercisable (Detail) (USD $)	3 Months Ended
	Sep. 30, 2014
Grants in 2004	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of options outstanding	80,000
Exercise price of options outstanding	$10
Expiration date of options outstanding and exercisable	15-Oct-14
Number of options exercisable	80,000
Exercise price of options exercisable	$10
Grants in 2006	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Number of options outstanding	405,000
Exercise price of options outstanding	$3.08
Expiration date of options outstanding and exercisable	15-Oct-16
Number of options exercisable	405,000
Exercise price of options exercisable	$3.08

Issue_of_Options_under_Stock_O3

Issue of Options under Stock Option Plan (Detail Textuals)	1 Months Ended	120 Months Ended
	Oct. 31, 2004	Sep. 30, 2014
Disclosure Of Compensation Related Costs Share based Payments [Abstract]	'	'
Number of options issued under stock option plan	605,000	'
Number of options lapsed	'	120,000

Loss_Per_Share_Detail

(Loss) Per Share (Detail)	3 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Anti-dilutive stock options excluded from diluted weighted average shares outstanding	485,000

Fair_Value_Of_Financial_Instru1

Fair Value Of Financial Instruments (Detail Textuals) (Acadian)	0 Months Ended	1 Months Ended	12 Months Ended
	Oct. 17, 2013	Sep. 18, 2013	Jun. 30, 2012	Jun. 30, 2012	Sep. 30, 2014	Oct. 11, 2013
	USD ($)		USD ($)	CAD	LionGold Corp. Ltd.	LionGold Corp. Ltd.
					USD ($)	CAD
Investments in and Advances to Affiliates [Line Items]	'	'	'	'	'	'
Payment to related party	'	'	$408,000	420,000	'	'
Conversion price per share (in dollars per share)	'	'	'	0.12	'	'
Shares received upon conversion of note	'	3,500,000	'	'	'	'
Percentage of ownership interest	'	6.53%	'	'	'	100.00%
Purchase price per share	'	'	'	'	'	0.12
Proceeds from sale of marketable securities	402,000	'	'	'	'	'
Number of marketable securities sold	3,509,998	'	'	'	'	'
Receivable for sale of marketable securities	'	'	'	'	$28,000	'

Income_Taxes_Summary_of_Deferr

Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) (USD $)	Sep. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified
Deferred tax assets	'	'
Net operating loss carry-forward	$2,576	$2,571
Exploration expenditure	3,440	3,567
Deferred tax assets, gross	6,016	6,138
Less valuation allowance	-6,016	-6,138
Deferred tax assets, net	'	'
USA	'	'
Deferred tax assets	'	'
Net operating loss carry-forward	2,452	2,442
Exploration expenditure	526	526
Deferred tax assets, gross	2,978	2,968
Less valuation allowance	-2,978	-2,968
Deferred tax assets, net	'	'
Canada	'	'
Deferred tax assets	'	'
Net operating loss carry-forward	124	130
Exploration expenditure	2,914	3,040
Deferred tax assets, gross	3,038	3,170
Less valuation allowance	-3,038	-3,170
Deferred tax assets, net	'	'

Income_Taxes_Narrative_Detail

Income Taxes - Narrative (Detail) (USD $)	3 Months Ended
	Sep. 30, 2014
Income Taxes [Line Items]	'
Earliest open tax year	'2011
USA	'
Income Taxes [Line Items]	'
Total available net operating loss carryforwards	7,005,000
USA | Minimum	'
Income Taxes [Line Items]	'
Expiration year of net operating loss carryforwards	'2023
USA | Maximum	'
Income Taxes [Line Items]	'
Expiration year of net operating loss carryforwards	'2034
Canada	'
Income Taxes [Line Items]	'
Total available net operating loss carryforwards	8,765,000