Santa Fe Gold (SFEG) 10-Q 24 Feb 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2014	Feb. 18, 2014
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Trading Symbol	sfeg
Entity Registrant Name	Santa Fe Gold CORP
Entity Central Index Key	851726
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		136,596,648
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Jun. 30, 2014
CURRENT ASSETS:
Cash and cash equivalents	$34,996	$83,825
Accounts receivable	0	14,267
Inventory	0	40,000
Prepaid expenses and other current assets	209,375	247,069
Total Current Assets	244,371	385,161
MINERAL PROPERTIES	599,897	599,897
PROPERTY, PLANT AND EQUIPMENT, net of depreciation of $14,348,119 and $13,387,407, respectively	18,290,971	19,255,682
OTHER ASSETS:
Restricted cash	231,716	231,716
Mogollon option costs	0	876,509
Deferred financing costs, net	78,653	99,310
Total Other Assets	310,369	1,207,535
Total Assets	19,445,608	21,448,275
CURRENT LIABILITIES:
Accounts payable	3,682,661	3,659,848
Accrued liabilities	8,133,698	8,024,162
Derivative instrument liabilities	280,953	292,124
Senior subordinated convertible notes payable, current portion, net of discounts of $-0- and $17,937, respectively	3,630,840	432,063
Notes payable, current portion	9,392,606	9,200,666
Completion guarantee payable	3,359,873	3,359,873
Total Current Liabilities	28,480,631	24,968,736
LONG TERM LIABILITIES:
Senior subordinated convertible notes payable, net of current portion	0	3,673,527
Convertible note, net of discount of $82,011, net of current portion	1,322	0
Asset retirement obligation	243,993	241,079
Total Liabilities	28,725,946	28,883,342
STOCKHOLDERS' (DEFICIT) :
Common stock, $.002 par value, 300,000,000 shares authorized; 136,596,648 and 127,229,228 shares issued and outstanding, respectively	273,194	254,459
Additional paid in capital	79,192,252	78,292,962
Accumulated (deficit)	-88,745,784	-85,982,488
Total Stockholders' (Deficit)	-9,280,338	-7,435,067
Total Liabilities and Stockholders' (Deficit)	$19,445,608	$21,448,275

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$14,348,119	$13,387,407
Debt Instrument Unamortized Discount Senior Subordinated Convertible Notes Payable Current	0	17,937
Debt Instrument Unamortized Discount Convertible Notes Payable Non Current	$82,011	$0
Common Stock, Par Value Per Share	$0.00	$0.00
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	136,596,648	127,229,228
Common Stock, Shares, Outstanding	136,596,648	127,229,228

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
SALES, net	($7,129)	$1,025,574	$64,389	$2,219,257
OPERATING COSTS AND EXPENSES:
Costs applicable to sales	0	1,036,288	40,000	3,213,205
Exploration and other mine related costs	1,041,784	143,564	1,236,510	234,177
General and administrative	807,240	1,060,807	1,176,883	1,904,045
Depreciation and amortization	482,464	660,860	964,712	1,435,319
Accretion of asset retirement obligation	1,472	689	2,914	1,203
Total Operating Costs and Expenses	2,332,960	2,902,208	3,421,019	6,787,949
LOSS FROM OPERATIONS	-2,340,089	-1,876,634	-3,356,630	-4,568,692
OTHER INCOME (EXPENSE):
Miscellaneous income	0	13,387	0	13,387
Gain on debt extinguishment	62,939	0	62,939	0
Foreign currency translation	249,928	237,888	551,080	250,177
Gain on derivative instrument liabilities	598,886	437,371	86,171	145,375
Accretion of discounts on notes payable	-7,018	-10,437	-19,259	-20,333
Financing costs - commodity supply agreements	1,393	206,242	757,765	-484,645
Finance charges	-28	0	-25,028	0
Interest expense	-384,835	-353,708	-820,334	-680,735
Total Other (Expense)	521,265	530,743	593,334	-776,774
(LOSS) BEFORE PROVISION FOR INCOME TAXES	-1,818,824	-1,345,891	-2,763,296	-5,345,466
PROVISION FOR INCOME TAXES	0	0	0	0
NET (LOSS)	($1,818,824)	($1,345,891)	($2,763,296)	($5,345,466)
Basic and Diluted Per Share data Net (Loss) - basic and diluted	($0.01)	($0.01)	($0.02)	($0.05)
Weighted Average Common Shares Outstanding: Basic and diluted	133,739,067	117,559,598	132,179,795	117,599,598

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($2,763,296)	($5,345,466)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	964,712	1,435,319
Stock-based compensation	411,487	394,864
Accretion of discount on notes payable	19,259	20,333
Accretion of asset retirement obligation	2,914	1,203
Financing costs - commodity supply agreements	-757,765	484,645
(Gain) on derivative instrument liabilities	-86,171	-145,375
(Gain) on disposal of assets	0	-134,995
(Gain) on debt extinguishment	-62,939	0
Amortization of deferred financing costs	20,657	129,176
Foreign currency translation	-551,080	-250,177
Net change in operating assets and liabilities:
Accounts receivable	14,267	-308,045
Inventory	40,000	122,558
Prepaid expenses and other current assets	37,694	-36,701
Mogollon option costs	876,509	-52,245
Accounts payable and accrued liabilities	1,297,483	2,066,711
Net Cash Used in Operating Activities	-518,269	-1,618,195
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposal of assets	0	464,500
Purchase of property, plant and equipment	0	-186,872
Net Cash Provided by (Used) in Investing Activities	0	277,628
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes payable	0	1,250,000
Proceeds from issuance of stock	202,500	0
Proceeds from notes payable	275,000	197,327
Payments on notes payable	-8,060	-130,636
Net Cash Provided by Financing Activities	469,440	1,316,691
(DECREASE) IN CASH AND CASH EQUIVALENTS	-48,829	-23,876
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	83,825	115,094
CASH AND CASH EQUIVALENTS, END OF PERIOD	34,996	91,218
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	374	24,746
Cash paid for income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Stock issued for accounts payable and accrued wages	200,000	0
Insurance financed with note payable	$0	$168,182

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Dec. 31, 2014
NATURE OF OPERATIONS [Text Block]	NOTE 1 – NATURE OF OPERATIONS
	Santa Fe Gold Corporation, a Delaware corporation (the “Santa Fe” or “Company”) is a U.S. copper, silver and gold exploration and mining company. The Company’s two principal projects are:
	The Lordsburg Copper Project , which consists of multiple square miles of patented and unpatented claims within the historic, inactive northern Lordsburg Mining district. The Lordsburg district is located along the middle of the Santa Rita lineament that extends from Copper Flats, through Santa Rita and Chico-Tyrone and into Mexico to Bisbee-Cananea. On June 30, 2008, The Lordsburg Mining Company (“Lordsburg Mining”), a New Mexico corporation, purchased from St. Cloud Mining Company, mineral processing equipment and real property situated adjacent to the Banner mill site located south of Lordsburg, New Mexico. The real property included in the purchase consists of 70 patented and 5 unpatented mining claims, and assignments of mineral leases covering 17 patented and 6 unpatented mining claims. These mining claims and mineral leases, together with the patented mining claims Lordsburg Mining already owned in the area of the Banner mill site, cover approximately 1,500 acres ( 2.3 square miles) and comprise the core of the northern Lordsburg Mining District. Historical production of copper, gold and silver from the district has been substantial. Lordsburg Mining assumed certain potential environmental obligations in connection with the real property, including those related to reclamation of old workings, should such obligations arise in the future. In December 2014, the Company staked an additional 289 claims, increasing the Lordsburg Copper Project’s land position by approximately nine square miles to approximately 13 square miles.
	Our Summit Silver-Gold Project , a fully-permitted silver-gold mine and mill, located near Duncan, Arizona on the New Mexico-Arizona border. In 2006, the Company acquired all of the outstanding shares of Lordsburg Mining. With the acquisition of Lordsburg Mining, the Company acquired the Summit Silver-Gold Project, consisting of approximately 117.6 acres of patented and approximately 520 acres of unpatented mining claims in Grant County, New Mexico; approximately 257 acres of patented mining claims in Hidalgo County, New Mexico; and milling equipment including a ball mill and floatation plant in Sierra County, New Mexico. In April 2012, the Company commenced commercial production at the Summit silver–gold mine. In November 2013 mining operations were suspended at the Summit Silver-Gold Project and the project was placed on “care- and-maintenance.”
	Santa Fe’s two primary strategic objectives include:
	Strategic Objectives -- Copper : To advance, with a strategic or financial partner, the Lordsburg Copper Project as a deep porphyry copper exploration project; and, to restart a high-grade underground copper mine in the Lordsburg mining district; and
	Strategic Objective -- Silver-Gold : To become a low-cost silver-gold producer by restarting the Summit Silver- Gold Project.
	Presently, Santa Fe is in active discussions and negotiations with several strategic and financial partners concerning the Lordsburg Copper Project and the Company is exploring financing alternatives to restart the Summit Silver-Gold Project. No assurances can be given that the Company’s efforts will be successful. See “Risk Factors -- In the event that we are unable to raise additional capital to satisfy the terms and conditions of the negotiated restructuring of our senior secured indebtedness, we may be forced to seek reorganization or liquidation under the U.S. Bankruptcy Code ” in the Company’s annual report on Form 10-K for our fiscal year ended June 30, 2014.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation and Going Concern
	The financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. Should the Company be unable to continue as a going concern, it may be unable to realize the carrying value of its assets and to meet its liabilities as they become due.
	The Company has incurred a loss of $2,763,296 for the six months ended December 31, 2014. At December 31, 2014, the Company had a total accumulated deficit of $88,745,784 and a working capital deficit of $28,236,260.
	The Company began revenue generating operations during the fiscal year ended June 30, 2011, through the sales of precious metals and flux material. On November 8, 2013 the Company suspended all mining operations and placed the mine and mill on a care and maintenance program. For the three months ended December 31, 2014, the Company did not engage in any mining activities and did not generate any sales. The Company is currently working to restructure its debts and obtain adequate capital to restart operations in the Company’s fiscal 2015 year.
	At December 31, 2014, the Company was in default on payments totaling approximately $9.0 million under its Senior Secured Gold Stream Credit Agreement (the “Credit Agreement”) with Waterton Global Value, L.P. (“Waterton”) and approximately $6.8 million under a gold stream agreement (the “Gold Stream Agreement”) with Sandstorm Gold Ltd. (“Sandstorm”). The Company’s consolidated financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence.
	To continue as a going concern, the Company is dependent on continued capital financing for project development, refinancing or repayment of various debt facilities and payment of operating and financing expenses until production at the Summit mine site attains cash flow to cover the Company’s operating costs. Presently, the Company is in active discussions and negotiations with several strategic and financial partners concerning the Lordsburg Copper Project and the Company is exploring financing alternatives to restart the Summit Silver-Gold Project. No assurances can be given that the Company’s efforts will be successful. See “Risk Factors -- In the event that we are unable to raise additional capital to satisfy the terms and conditions of the negotiated restructuring of our senior secured indebtedness, we may be forced to seek reorganization or liquidation under the U.S. Bankruptcy Code ” in the Company’s annual report on Form 10-K for our year fiscal ended June 30, 2014.
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Azco Mica, Inc., a Delaware corporation, The Lordsburg Mining Company, a New Mexico corporation, and Santa Fe Gold Barbados Corporation, a Barbados corporation. All significant inter-company accounts and transactions have been eliminated in consolidation.
	Reclassifications
	Certain items in these consolidated financial statements have been reclassified to conform to the current year’s presentation.
	Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.
	Significant estimates are used when accounting for the Company’s carrying value of mineral properties, fixed assets, depreciation and amortization, accruals, derivative instrument liabilities, taxes and contingencies, asset retirement obligations, revenue recognition, and stock-based compensation which are discussed in the respective notes to the consolidated financial statements.
	Fair Value Measurements
	The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximated their related fair values as of December 30, 2014 and June 30, 2014, due to the relatively short-term nature of these instruments. The carrying value of the Company’s convertible notes payable approximates the fair value based on the terms at which the Company could obtain similar financing and the short term nature of these instruments.
	Cash and Cash Equivalents
	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash balances. Restricted cash is excluded from cash and cash equivalents and is included in other assets.
	Accounts Receivable
	Accounts receivable consist of trade receivables from precious metals sales of concentrate and flux. In evaluating the collectability of accounts receivable, the Company analyzes past results and identifies trends for each major payer source of revenue for the purpose of estimating an allowance for doubtful accounts. Data in each major payer source are regularly reviewed to evaluate the adequacy of the allowance, and actual write-offs are charged against the allowance. There was no allowance for doubtful accounts as of December 31, 2014, and June 30, 2014.
	On June 30, 2013, the Company signed a Waiver of Default Letter (the “Letter”) with Waterton wherein the Company agreed to sell, convey, assign and transfer certain accounts receivable as consideration for Waterton’s waiver for non-payment under the Senior Secured Gold Stream Agreement. The transfer of the accounts receivable to Waterton are to be treated as payment towards outstanding interest amounts with any remaining transfer of receivables to be treated as a payment towards other indebtedness under the Credit Agreement, including principal on the note. The valuation of receivables sold under the Letter was finalized at $1,018,056. Additionally, $813,919 of collected accounts receivable sold to Waterton still remains to be remitted to them and is recorded in Accrued Liabilities at December 31, 2014.
	Inventory
	Major types of inventories include ore stockpile inventories, in-process inventories, siliceous flux material inventories and concentrate inventories. Inventories are carried at the lower of average cost or net realizable value. The net realizable value of ore stockpile inventories and in-process inventories represents the estimated future sales price of the product based on current and future metals prices, less the estimated costs to complete production and bring the product to sale. Concentrate inventories and siliceous flux material inventories are carried at the lower of full cost of production or net realizable value based on current and future metals prices. Write-downs of inventory are reported as a component of costs applicable to sales. The Company has no inventories at December 31, 2014.
	Property, Equipment and Mine Development
	Property and Equipment
	Property and equipment are carried at cost. Maintenance and repairs that do not improve or extend the life of the respective assets are expensed as incurred. Expenditures for new property or equipment and expenditures that extend the useful lives of existing property and equipment are capitalized and recorded at cost. Upon retirement, sale or other disposition, the cost and accumulated amortization are eliminated and the gain or loss is included in operations. Depreciation is taken over the estimated useful lives of the assets using the straight-line method. The estimated useful lives of property and equipment are shown below. Land is not depreciated.
		Estimated Useful
		Life
	Leasehold improvements	3 Years
	Office furniture and equipment	3 Years
	Mine processing equipment and buildings	7 – 20 Years
	Plant	3 – 9 Years
	Tailings	3 Years
	Environmental and permits	7 Years
	Asset retirement obligation	5 Years
	Automotive	3 – 5 Years
	Software	5 Years
	Mine Development
	Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure in an underground mine. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as exploration expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves.
	Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting non-reserve mineralization to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of costs applicable to sales.
	Mine development is amortized using the units-of-production method based upon estimated recoverable tonnage in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore body.
	Mineral Properties
	Mineral properties are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. When it is determined that a mineral property can be economically developed as a result of establishing reserves, subsequent mine development are capitalized and are amortized using the units of production method over the estimated life of the ore body based on estimated recoverable tonnage in proven and probable reserves.
	The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineralized material.
	Impairment of Long-Lived Assets
	The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable. The assets are subject to impairment consideration if events or circumstances indicate that their carrying amount might not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. When impairment is identified, the carrying amount of the asset is reduced to its estimated fair value which is generally derived from estimated discounted cash flows.
	The Company is in active and continuing discussions with various strategic and financial financing sources concerning both the Summit Silver-Gold Project and/or the Lordsburg Copper Project. Additionally, the Company believes that it enjoys the support of Waterton, its major creditor at this time. It is unknown if such discussions will be successful in attaining a financing and necessary debt restructure that would allow the Company to continue operations under its current business plan.
	If discussions with these strategic and/or financing sources are unsuccessful the Company will not be able to continue as a going concern, and will likely be forced to seek relief under the U.S. Bankruptcy Code. At that time the Company would have to evaluate the circumstances and the potential impairment on its long- lived assets.
	As of December 31, 2014, and in light of current financing dialog with various potential strategic and financing sources, no events or circumstances have happened to indicate the related carrying values of long-lived assets may not be recoverable.
	Derivative Financial Instruments
	The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.
	The Company reviews the terms of convertible debt, equity instruments and other financing arrangements to determine whether there are embedded derivative instruments, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Also, in connection with the issuance of financing instruments, the Company may issue freestanding options or warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity. The Company may also issue options or warrants to non-employees in connection with consulting or other services.
	Derivative financial instruments are initially measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as charges or credits to income. For warrant-based derivative financial instruments, the Company uses the Black-Scholes option pricing model to value the derivative instruments. To the extent that the initial fair values of the freestanding and/or bifurcated derivative instrument liabilities exceed the total proceeds received, an immediate charge to income is recognized, in order to initially record the derivative instrument liabilities at their fair value.
	The discount from the face value of the convertible debt or equity instruments resulting from allocating some or all of the proceeds to the derivative instruments, together with the stated interest on the instrument, is amortized over the life of the instrument through periodic charges to income, usually using the effective interest method.
	The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. If reclassification is required, the fair value of the derivative instrument, as of the determination date, is reclassified. Any previous charges or credits to income for changes in the fair value of the derivative instrument are not reversed. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within twelve months of the balance sheet date.
	Reclamation Costs
	Reclamation obligations are recognized when incurred and recorded as liabilities at fair value. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The reclamation obligation is based upon when spending for an existing disturbance will occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for reclamation obligations. As of December 31, 2014 and June 30, 2014, the Company had a reclamation obligation totaling $243,993 and $241,079, respectively.
	Revenue Recognition
	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred physically, the price is fixed or determinable, no related obligations remain and collectability is probable.
	Sales of all metals products sold directly to the Company’s metals buyers, including by-product metals, are recorded as revenues upon a buyer either taking physical delivery of the metals product in the case of siliceous flux material or upon the buyer receiving all required documentation necessary to take physical delivery of the metals product in the case of concentrate (generally at the time the product is loaded onto a shipping vessel at the originating port and the bill of lading is generated).
	Revenues for metals products are recorded at current market prices at the time of delivery and are subsequently adjusted to the current market prices existing at the end of each reporting period. Due to the period of time existing between delivery and final settlement with the buyer, the Company estimates the prices at which sales will be settled. Changes in metals prices between delivery and final settlement will result in adjustments to revenues previously recorded.
	Sales of metals products are recorded net of charges from the buyer for treatment, refining, smelting losses, and other negotiated charges. Charges are estimated upon shipment of product based on contractual terms, and actual charges do not vary materially from estimates. Costs charged by smelters include a metals payable fee, fixed treatment and refining costs per ton of product.
	Net Loss Per Share
	Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing net income (loss) by the weighted average number of common shares and dilutive common stock equivalents outstanding. During the periods when they are anti-dilutive, common stock equivalents, if any, are not considered in the computation. For the three and six month periods ended December 31, 2014 and 2013, the impact of outstanding stock equivalents has not been included as they would be anti-dilutive.
Stock-Based Compensation
In connection with terms of employment with the Company’s executives and employees, the Company occasionally issues options to acquire its common stock and issue stock in lieu of cash compensation. Awards are made at the discretion of the Board of Directors. Such options may be exercisable at varying exercise prices and generally vest when issued to over a period of six months to a year.
The Company accounts for share-based compensation based upon on the grant date fair value of the award. The Company estimates the fair value of the award using the Black-Scholes option pricing model for valuation of the share-based payments. The Company believes this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for actual exercise behavior of option holders. The simplified method is used to determine compensation expense since historical option exercise experience is limited. The compensation cost is recognized over the expected vesting period.
Accounting Standards to be adopted in Future Periods
In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to evaluate, in connection with financial statement preparation for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and to provide related disclosures. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company has not studied this guidance and is not certain if the adoption of this guidance will have a material effect on its consolidated financial statements.
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future consolidated financial statements.

ACCRUED_LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Dec. 31, 2014
ACCRUED LIABILITIES [Text Block]	NOTE 3 - ACCRUED LIABILITIES
	Accrued liabilities consist of the following as of:
				December 31,		June 30,
				2014		2014
		Interest	$	2,283,644	$	1,572,298
		Vacation		50,830		57,602
		Deferred and accrued payroll burden		209,313		133,890
		Franchise taxes		17,004		8,503
		Royalties		719,999		690,358
		Merger costs, net		269,986		269,986
		Other accrued expenses		314,435		133,958
		Audit and accounting		68,797		111,825
		Debt settlement		-		106,977
		Property taxes		159,159		135,000
		Receivables due Waterton		813,919		813,919
		Commodity supply agreements		3,237,409		3,989,846
			$	8,133,698	$	8,024,162
	(See NOTE 9 – CONTINGENCIES AND COMMITMENTS, regarding further details of Commodity supply agreements.)

DERIVATIVE_INSTRUMENT_LIABILIT

DERIVATIVE INSTRUMENT LIABILITIES	6 Months Ended
	Dec. 31, 2014
DERIVATIVE INSTRUMENT LIABILITIES [Text Block]	NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES
	The fair market value of the derivative instruments liabilities at December 31, 2014, was determined to be $280,953 with the following assumptions: (1) risk free interest rate of 0.25% to 0.97%, (2) remaining contractual life of 0.01 to 2.71years, (3) expected stock price volatility of 168.9% to 220.17%, and (4) expected dividend yield of zero. Based upon the change in fair value, the Company has recorded a gain on derivative instruments for the six months ended December 31, 2014, of $86,171 and a corresponding increase in the derivative instruments liability.
			Derivative		Derivative		Gain for
			Liability as of		Liability as of		Six months ended
			30-Jun-14		31-Dec-14		31-Dec-14
	Warrants	$	292,124	$	280,953	$	11,171
	Amount allocated to note discount						75,000
	at inception
						$	86,171
	The entire amount of derivative instrument liabilities are classified as current due to the fact that settlement of the derivative instruments could be required within twelve months of the balance sheet date.

CONVERTIBLE_NOTES_PAYABLE

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Dec. 31, 2014
CONVERTIBLE NOTES PAYABLE [Text Block]	NOTE 5 –CONVERTIBLE NOTES PAYABLE
	Senior Subordinated Convertible Notes
	On October 30, 2007, the Company completed the placement of 10% Senior Subordinated Convertible Notes of $450,000. The notes were placed with three accredited investors for $150,000 each and bear interest at 10% per annum. The notes had term of 60 months at which time all remaining principal and interest was due. Interest accrued for 18 months from the date of closing. Interest on the outstanding principal balance was payable in quarterly installments commencing on the first day of the 19th month following closing. In connection with the transaction, the Company issued a five year warrant for each $2.50 invested, for a total of 180,000 warrants, each warrant giving the note holder the right to purchase one share of common stock at a price of $1.25 per share. At the option of the holders of the convertible notes, the outstanding principal and interest was convertible at any time into shares of the Company’s common stock at conversion price of $1.25 per share. The notes were to be automatically converted into common stock if the weighted average closing sales price of the stock exceeded $2.50 per share for ten consecutive trading days. The shares underlying the notes and warrants are to be registered on request of the note holders, provided the weighted average closing price of the stock exceeds $1.50 per share for ten consecutive trading days.
	On October 31, 2012, the notes with the three accredited investors became due and payable. On January 15, 2013, the maturity dates for the convertible senior subordinated notes aggregating $450,000 were extended for a period of two years from the original maturity dates. Additionally, the convertible price of the notes was reduced to $0.40 and the automatic conversion price of $2.50 was reduced to $0.80. In connection with the extension of the notes, 562,500 warrants were issued with a strike price of $0.40 and term of two years from the original maturity dates; 375,000 warrants expired on October 23, 2014 and the remaining 187,500 warrants expired on November 20, 2014.
	At December 31, 2014 and June 30, 2014 the outstanding principal balance on the senior subordinated convertible notes, was $450,000 and along with any unamortized discount is classified as current.
	Holders of $300,000 original principal amount of the 10% Senior Subordinated Convertible Notes have indicated their desire to convert all outstanding principal and interest into shares of the Company’s common stock.
	Convertible Secured Notes
	In October and November 2012, the Company received advances totaling A$3,900,000, representing cash proceeds of $3,985,000, from International Goldfields Limited (ASX: IGS) in fulfillment of an important condition of the Binding Heads of Agreement dated October 8, 2012 between the Company and IGS. The funds were advanced by way of two secured convertible notes. The convertible notes bear interest at a rate of 6% per annum, have a three-year term, and were secured by the Company’s contractual rights to the Mogollon property. The Company has the right to prepay the notes at any time without any premium or penalty. Should the Company fail to repay the notes on the maturity date or should an event of default occur, then IGS may choose to have the outstanding amounts repaid in the Company’s shares at a conversion rate equal to the daily volume weighted average sales price for the twenty trading days immediately preceding the date of conversion.
	In June 2013, the Company negotiated an additional A$2.0 million capital injection from IGS by way of a secured convertible note. In conjunction with this financing, the Company agreed to explore a listing on the Singapore Catalist Stock Exchange (SGX-ST). It was agreed that the convertible note would bear interest at a rate of 10% per annum, has a maturity date of October 31, 2015, and is secured by the Company’s contractual rights in the Mogollon property. The note is repayable in cash or Santa Fe Gold stock, at IGS’s election, upon a refinancing of the Company’s loan from Waterton. Additionally, a facilitation fee of $300,000 common stock of the Company is due to IGS upon the first to occur of the maturity date, refinancing date of the note, or date that all principal and interest on the note is paid-in-full. As of March 31, 2014, the Company had received total advances totaling only $1,250,000 in connection with the secured convertible note. IGS and the Company agreed to have all outstanding amounts under the note s satisfied by the issue of Company’s stock aggregating 9,259,259 shares. The Company recorded a gain of $615,781 on the extinguishment of the debt. The stock was issued pursuant to an exemption from registration under Regulation S of the Securities Act of 1933, as amended.
	On December 31, 2014, the total outstanding principal balances on all of the IGS Secured Convertible Notes totaled $3,180,840.
	Convertible Unsecured Note
	On October 22, 2014 the Company signed a $500,000 Convertible Note with an Investor and received a Consideration of net proceeds $75,000, net an original issue discount (“OID) of $8,333. The Consideration on the Note has a Maturity date of two years from the Effective Date and has a 10% OID component attached to it. The Company may repay the Consideration at any time on or before 120 days from the Effect Date and the there would be no interest due on the Consideration. If the Company does not repay a Consideration on or before 120 days from its Effective Date, a one- time interest charge of 12% shall be applied to the principal sum. If the Company does not pay a Consideration prior to the 120 -day period, the Company may not make further payments on this Note prior to Maturity Date without written approval from the Investor. The Investor may pay additional Consideration to the Company in such amounts and at such dates as the Investor may choose in its sole discretion.
	The original consideration contains an embedded conversion option and is separated from the Note and accounted for as a derivative instrument at fair value and discount to the Note. The initial carrying value of the of the embedded conversion option exceeded the net proceeds received and created a derivative loss of $68,969 in the current period.
	The conversion price is the lesser of $0.0425 or 65% of the lowest trade price in the 25 trading days previous to the conversion.
	The components of the all convertible notes payable at December 31, 2014 are as follows:
	December 31, 2014:		Principal		Unamortized
			Amount		Discount		Net
	Current portion	$	450,000	$	-	$	450,000
	Senior current portion		3,180,840		-		3,180,840
	Convertible note, long term portion		83,333		(82,011		1,322
		$	3,714,173	$	-82,011	$	3,632,162
	June 30, 2014:		Principal		Unamortized
			Amount		Discount		Net
	Current portion	$	450,000	$	-17,937	$	432,063
	Long-term portion, net of current		3,673,527		-		3,673,527
		$	4,123,527	$	-17,937	$	4,105,590

SENIOR_SECURED_GOLD_STREAM_CRE

SENIOR SECURED GOLD STREAM CREDIT AGREEMENT	6 Months Ended
	Dec. 31, 2014
SENIOR SECURED GOLD STREAM CREDIT AGREEMENT [Text Block]	NOTE 6 – SENIOR SECURED GOLD STREAM CREDIT AGREEMENT
	On December 23, 2011, the Company and its subsidiaries entered into a Senior Secured Gold Stream Credit Agreement (the “Credit Agreement”) Waterton. The Credit Agreement provided for two $10 million tranches and a $5 million revolving working capital facility. On December 23, 2011, the Company closed the first $10 million tranche of the Credit Agreement. The second $10 million tranche was earmarked to fund the strategic acquisition of Columbus Silver and was not drawn down due to the expiration of the Columbus Silver acquisition agreement.
	Proceeds from the initial $10 million tranche of the Credit Agreement were used to retire the Company’s $5 million, 15% Senior Secured Bridge loan with Victory Park Capital Advisors, LLC, in addition to the payment of transaction fees and expenses. The Company utilized the remaining net proceeds for operations and working capital for the Summit silver-gold project.
	The Credit Agreement provides for a 9% coupon and the initial $10 million tranche amortized over a 12 -month term with the first payment due July 31, 2012. In connection with the transaction, the Company entered into a gold and silver sale agreement (the “Gold and Silver Supply Agreement”) to sell the gold and silver originating from the Summit property to Waterton. See NOTE 9- CONTINGENCIES AND COMMITMENTS.
	Pursuant to a series of guarantees, security agreements, deeds of trust, a mortgage and a stock pledge agreement, the senior obligations are secured by a first priority lien on the stock of the Company’s subsidiaries and on liens covering substantially all of the Company’s assets, with the exception of the Ortiz gold project, including the Summit silver-gold project, the Black Canyon mica project, and the Planet micaceous iron oxide project. Existing creditor, Sandstorm Gold (Barbados) Ltd., executed an intercreditor agreement that provides for subordination of its security interests in favor of Waterton. The outstanding principal amounts owed under the Credit Agreement are aggregated with Notes Payable for financial statement presentation. See NOTE 7 - NOTES PAYABLE.
	On October 9, 2012, the Company entered into the First Amendment to the Credit Agreement which modified the due dates of certain principal payments on the note. The amendment provided for principal payments of $1,082,955 in October 2012, $500,000 on November 30, 2012, $-in December 2012 and January 2013, and $3,852,275 on February 28, 2013. All other principal payments remained unchanged and interest payments continued to be due monthly. The Company has not made the principal payments for February 2013 or subsequent months. In addition, interest payments for the six months ended December 31, 2014 have not been made and are included in accrued liabilities at December 31, 2014.
	On June 30, 2013, the Company signed a Waiver of Default Letter (the “Letter”) with Waterton wherein the Company agreed to sell, convey, assign and transfer certain accounts receivable as consideration for a waiver for non-payment to Waterton under the Credit Agreement. The transfer of the accounts receivable to Waterton were applied as payment towards outstanding interest payable amounts first with any remaining transfer of receivables treated as payment towards other indebtedness under the Credit Agreement, including principal on the note. The measurement of receivables transferred was subject to revaluation in accordance with mark-to-market adjustments and final settlement of the invoices. The initial valuation of receivables under the Letter was $1,053,599 at June 30, 2013. Under terms of the Letter, interest payable was reduced by $116,693 and the principal portion of the note was reduced by $768,263, while the remaining $168,643 was recorded as financing costs in interest expense at June 30, 2013.
	As of December 31, 2013, the valuation of receivables sold under the Letter was finalized at $1,018,056. Accordingly, final valuation adjustments were made to increase the principal portion of the note outstanding by $29,145 and to decrease financing costs by $6,398. After recording final valuation adjustments, the principal portion of the note was ultimately reduced by $739,118, while the amount recorded over two quarters as financing costs in interest expense was $162,245. There was no final valuation adjustment to interest payable. The outstanding principal balance on the note at December 31, 2014 and June 30, 2014 was $7,040,427. Additionally, $813,919 of collected accounts receivable sold to Waterton remains to be remitted to them and is recorded in accrued Liabilities at December 31, 2014.
	Waterton may revoke the waiver at any time and note the Company in default under the Credit Agreement. In the event that Debt Restructurings are not consummated, or should any of Waterton’s indebtedness be accelerated, the Company will not have adequate liquidity to fund its operations, meet its obligations (including its debt payment obligations) and continue as a going concern, and will likely be forced to seek relief under Chapter 11 or 15 of the U.S. Bankruptcy Code (or an involuntary petition for bankruptcy relief or similar creditor action may be filed against it).

NOTES_PAYABLE

NOTES PAYABLE	6 Months Ended
	Dec. 31, 2014
NOTES PAYABLE [Text Block]	NOTE 7 – NOTES PAYABLE
	Pursuant to Share Exchange Agreement (the "Share Exchange Agreement") with Canarc Resource Corp., a British Columbia, Canada corporation whose common shares are listed on the TSX Exchange under the symbol CCM ("Canarc") on July 15, 2014, the Company and Carnac entered into an interim financing facility pursuant to which Canarc advanced $220,000 to the Company. The loan bears interest at a rate of 1% a month and is due and payable upon the closing of a gold bond financing by the Company or January 15, 2015, if the financing does not close. The financing did close under this Agreement and this amount is outstanding at December 31, 2014, with $200,000 and $20,000 in Notes Payable current portion and Accrued Liabilities, respectively.
	On May 8, 2012, the Company entered into an installment sales contract for $46,379 to purchase certain equipment. The term of the agreement is for 36 months at an interest rate of 5.75%, with the equipment securing the loan. The balance owed on the note was $8,294 and $16,354 at December 31, 2014 and June 30, 2014, respectively.
	On June 1, 2012, the Company entered into an installment sales contract for $593,657 to purchase certain equipment. The term of the agreement is for 48 months at an interest rate of 5.75%, with the equipment securing the loan. The balance owed on the note was $398,793 and $398,793 at December 31 and June 30, 2014, respectively. The Company has been unable to make its monthly payments since November 2013, is currently in default and the equipment has been returned to the vendor for sale and remains unsold at December 31, 2014.
	In conjunction with the Merger Agreement, Tyhee and the Company entered into a Bridge Loan Agreement, pursuant to which Tyhee was obligated to advance up to $3 million to the Company in accordance with the terms thereof. Tyhee advanced the Company only $1,745,092 under the Bridge Loan as of June 30, 2014. The Bridge Loan bears an annual interest rate of 24%. At this time the Company and Tyhee are in disagreement as to the due date of the Bridge Loan. Tyhee has provided the Company with purported notice of default under the Bridge Loan Agreement. The Company has numerous claims against Tyhee resulting from the Merger Agreement, Tyhee’s failure to fund the total $3 million under the Bridge loan Agreement and Tyhee’s allocation of the proceeds from the Bridge Loan Agreement. At June 30, 2014, the Company recorded merger expenses that are due to Tyhee of $269,986 and is included in accrued liabilities. This amount is net of a break fee of $300,000 due the Company from Tyhee.
	The following summarizes notes payable, including the Senior Secured Gold Stream Credit Agreement, at:
			December 31,		June 30,
			2014		2014
	Working capital advances,	$	200,000	$	-
	interest at 1% per month, due January 15, 2015
	Installment sales contract on equipment,		8,294		16,354
	interest at 5.75%, payable in 36 monthly installments of $1,406, including
	interest through June 2015.
	Installment sales contract on equipment,		398,793		398,793
	interest at 5.75%, payable in 48 monthly installments of $13,874, including
	interest through July 2016.
	Unsecured bridge loan note payable,		1,745,092		1,745,092
	Interest at 2% monthly, payable August 17, 2014, six months after the first
	advance on the bridge loan.
	Senior Secured Gold Stream Credit Agreement, interest at		7,040,427		7,040,427
	9.00% per annum, payable monthly in arrears, principal payments deferred to
	July 2012; principal installments are $425,000 for July and August 2012,
	$870,455 monthly for December 2012 through June 2013 and $445,450 in
	July 2013; Note amended October 9, 2012, principal installments of
	$1,082,955 due October 2012, $500,000 November 2012, $0 due December
	2012 and January 2013, $3,852,275 February 2013, $870,455 March through
	June 2013, and $445,450 in July 2013.
	Total Outstanding Notes Payable		9,392,606		9,200,666
	Less: Current portion		-9,392,606		-9,200,666
	Notes payable, net of current portion and discount	$	- -	$	- -
	The aggregate maturities of notes payable as of December 31, 2014, is as follows:Year ending June 30,				9,392,606
	2015
	Total Outstanding Notes Payable			$	9,392,606

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2014
FAIR VALUE MEASUREMENTS [Text Block]	NOTE 8 – FAIR VALUE MEASUREMENTS
	Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
		Level 1 –	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
		Level 2 –	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly for substantially the full term of the asset or liability;
		Level 3 –	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	Asset and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.
	The Company’s financial instruments consist of derivative instruments which are measured at fair value on a recurring basis. The derivatives are measured on their respective origination dates, at the end of each reporting period and at other points in time when necessary, such as modifications, using Level 3 inputs in accordance with GAAP. The Company does not report any financial assets or liabilities that it measures using Level 1 or 2 inputs. The fair value measurement of financial instruments and other assets as of December 31, 2014 and June 30, 2014 are as follows:
								Balance at December 31,
			Level 1	Level 2		Level 3		2014
	Assets:		- --	- --		- --		- --
	None
	Liabilities:
	Derivative instruments		- --	- --	$	280,953	$	280,953
								Balance at June 30,
			Level 1	Level 2		Level 3		2014
	Assets:		- --	- --		- --		- --
	None
	Derivative instruments		- --	- --	$	292,124	$	292,124

CONTINGENCIES_AND_COMMITMENTS

CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Dec. 31, 2014
CONTINGENCIES AND COMMITMENTS [Text Block]	NOTE 9 - CONTINGENCIES AND COMMITMENTS
	Summit Silver-Gold Project
	The Summit project is subject to two underlying royalties and a net proceeds interest as follows: (1) a 7.5% royalty on net smelter returns toward an end price of $1,250,000 ; (2) a 5% royalty on net smelter returns toward an end price of $4,000,000 less any amount paid under the royalty described in (1); and (3) a net proceeds interest of 5% of net proceeds from sales of unbeneficiated mineralized rock until such time as the royalties described in (1) and (2) have been satisfied, and 10% of such net proceeds thereafter toward an end price of $2,400,000. The Summit silver-gold project is subject to a property identification agreement between the Company and the former President and Chief Executive Officer. The property identification agreement specifies that a 1% royalty be paid on the value of future production from the project.
	A royalty expense was incurred during the six months ended December 31, 2014 aggregating $29,642. At December 31, 2014, the Company had an accrued royalty liability of $719,999, which includes $222,362 payable to the Company’s former President and Chief Executive Officer.
	Commodity Supply Agreements
	In December 2009, the Company entered into a definitive gold stream agreement (the “Gold Stream Agreement”) with Sandstorm to deliver a portion of the life-of-mine gold production (excluding all silver production) from the Company’s Summit silver-gold mine. Under the agreement the Company received advances of $4,000,000 as an upfront deposit, plus continue to receive future ongoing payments equal to the lesser of: $400 per ounce or the prevailing market price, (the “Fixed Price”) for each ounce of gold delivered pursuant to the agreement for the life of the mine. The Company purchases and delivers refined gold in order to satisfy the requirements of the Gold Stream Agreement and receives the Fixed Price per ounce in cash from Sandstorm. The difference between the prevailing market price and the Fixed Price per ounce for gold delivered is credited against the upfront deposit of $4,000,000 until the obligation is reduced to zero. Future ongoing payments for gold deliveries will continue at the Fixed Price per ounce with no additional credits or advances to be received from Sandstorm. In certain circumstances, including failure to meet minimum production rates, interruption in production due to permitting issues and customary events of default, the agreement may be terminated. In such event, the Company may be required to return to Sandstorm any remaining uncredited balance of the original $4,000,000 upfront deposit. Gold production subject to the agreement includes 50% of the first 10,000 ounces of gold produced, and 22% of the gold thereafter. The net cost of delivering refined gold along with other related transactional costs corresponding to the Gold Stream Agreement are recorded in Other Expenses as financing costs - commodity supply agreements.
	On March 29, 2011, the Company entered into Amendment 1 for the Gold Stream Agreement. The amendment extended the original completion guarantee date from April 2011 to June 30, 2012. The completion guarantee test performs a calculation based upon that percentage of underproduction of gold produced relative to the amount of gold planned to have been produced as set out in the agreement. In exchange for the amended completion guarantee date, the Company agreed to deliver an additional 700 ounces of gold at equivalent sales terms over and above the original agreement. Under the terms of the amendment the delivery of the additional gold was to be made prior to June 30, 2011.
	On June 28, 2011, the Company entered into Amendment 2 for the Gold Stream Agreement. The amendment extended the delivery date for the additional 700 ounces of gold agreed upon in Amendment 1 from June 30, 2011 until October 15, 2011. In exchange for the new deferred delivery date the Company agreed to pay a per diem of 3 ounces of gold for each day the additional gold under Amendment 1 remained outstanding past June 30, 2011 until the actual date of delivery, no later than October 15, 2011. On August 9, 2011 the Company satisfied the requirements of Amendment 2 and delivered 817 ounces of gold. The net cost of delivering the gold after receiving payment from Sandstorm of $400 per ounce delivered was $1,075,785.
	At June 30, 2012, the Company calculated the completion guarantee payable provided by Amendment 1. Based upon the provisions of the Gold Stream Agreement and the related completion guarantee test, incremental financing charges totaling $504,049 were recognized and accrued at June 30, 2012. These accrued charges, combined with the remaining uncredited liability for the upfront deposit totaled $3,359,873 at December 31, 2014 and June 30, 2014, respectively, and are reported as the completion guarantee payable.
	Under the Gold Stream Agreement the Company has a recorded an obligation at December 31, 2014, of 3,709 ounces of undelivered gold valued at approximately $3.0 million, net of the Fixed Price of $400 per ounce to be received upon delivery.
	On December 23, 2011, the Company and its subsidiaries entered into a Senior Secured Gold Stream Credit Agreement (the “Credit Agreement”) with Waterton. The Credit Agreement provided for two $10 million tranches and a $5 million revolving working capital facility. On December 23, 2011, the Company closed the first $10 million tranche of the Credit Agreement. The second $10 million tranche, which was subject to several funding conditions, was earmarked to fund the strategic acquisition of Columbus. The acquisition did not occur and consequently the second tranche was not drawn down. As part of the transaction, the Company agreed pursuant to a gold and silver sale agreement (the “Gold and Silver Supply Agreement”) to sell refined gold and silver to Waterton for the life the Summit mine. Gold and silver subject to the agreement includes all gold and silver originating from the Summit property that is not otherwise committed to delivery to and purchased by Sandstorm, pursuant to the December 9, 2011 Gold Stream Agreement. The sales price for refined gold and silver is based upon a formulation which considers the London Bullion Market Association (“LBMA”) PM fix settlement price for each respective metal, less a discount of three percent for each metal, and a transaction cost of $1.75 per ounce for gold and $0.07 per ounce for silver. The discount on gold and silver is only applicable until and ceases after the latter of either, three years after all outstanding amounts due under the Senior Secured Gold Stream Credit Agreement have been repaid, or the date on which the Company has sold 125,000 gold equivalent ounces under the Gold and Silver Supply Agreement. The Company has a recorded obligation of $242,528 and $611,503 at December 31, 2014 and June 30, 2014, respectively, related to the Gold and Silver Supply Agreement and is recorded in Accrued Liabilities.
	The Company refers to the Gold Stream Agreement and Gold and Silver Supply Agreement collectively as the commodity supply agreements and records the costs related to these agreements in financing costs – commodity supply agreements.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Dec. 31, 2014
STOCKHOLDERS' EQUITY [Text Block]	NOTE 10 - STOCKHOLDERS’ EQUITY
	Issuance of Stock
	On July15, 2014, the Company entered into shares for debt settlements with five creditors wherein an aggregate of $200,000 of debt was settled by the aggregate issuance of 4,000,000 shares of common stock.
	On October 21, 2014, the Company issued 792,420 shares of common stock at a price of $0.135 per share to Muzz Investments, LLC, in regards to the Company’s obligation for costs incurred related to the 2006 sale of real properly in Glendale, Arizona, formerly owned by Azco Mica, Inc. A gain of $64,978 was recorded on the final extinguishment of the debt of $106,977.
	On November 24, 2014, the Company entered into shares for liability settlements with two related party creditors wherein an aggregate of $40,000 of debt was settled by the aggregate issuance of 800,000 shares of common stock.  A loss of $1,360 was recorded on the final extinguishment of liabilities.
	On November 24, 2014, the Company entered into shares for liability settlement with a creditor wherein an aggregate of $20,000 of debt was settled by the aggregate issuance of 400,000 shares of common stock. A loss of $680 was recorded on the final extinguishment of the liability.
	On November 24, 2014 the Company sold 3,375,000 shares to an accredited investor and received net cash proceeds of $202,500.
	Issuance of Warrants
	During the six months ended December 31, 2014, the Company issued 6,580,115 warrants and 7,986,302 warrants expired .
	On October 22, 2014, in connection with the sale of a convertible debenture, the Company issued 3,205,115 common stock purchase warrants expiring on October 22, 2016, with an initial exercise price of $0.026 per share. The convertible note is convertible at the lower of (a) $0.0425 or (b) 65% of the lowest trading price in the prior 25 trading days. Using the Black-Scholes option pricing model, the fair market value of the warrants at the time of issuance was determined to be $126,887. The warrants were valued using the following significant assumptions: (1) a risk free interest rate of 0.59%, (2) expected life of 1.81 years, (3) expected stock price volatility of 196.37% and (4) expected dividend yield of zero.
	On November 24, 2014, in connection with a private placement of 3,375,000 shares of the Company’s common stock, the Company issued 3,375,000 warrants expiring on December 30, 2015, giving the holder the right to purchase common stock at $0.06 per share. Using the Black-Scholes option pricing model, the fair market value of the warrants at the time of issuance was determined to be $124,089. The warrants were valued using the following significant assumptions: (1) a risk free interest rate of 0.152%, (2) expected life of 1.01 years, (3) expected stock price volatility of 220.136% and (4) expected dividend yield of zero.
	Stock Options and the Amended and Restated Equity Incentive Plan
	During the six months ended December 31, 2014, 18,500,000 options were granted and 14,025,000 options cancelled .
	Pursuant to Share Exchange Agreement with Canarc Resource Corp., the Company granted five year stock options for 7,500,000 shares of common stock at an exercise price of $0.055, the closing price on the date of grant. The stock options vest 100% upon the closing of a qualified financing. The expiry date is July 15, 2019 if a qualified financing is consummated, or October 15, 2014 if a qualified financing is not consummated by October 31, 2014. A qualified financing is debt or equity financing of at least $20.0 million. The Share Exchange Agreement provided that it will terminate, unless a closing of the transactions contemplated shall have occurred on or before October 31, 2014. The transactions did not close, and the Share Exchange Agreement terminated pursuant to its terms on October 31, 2014. The associated granted options did not vest and expired on October 15, 2014 according to the terms of the grant.
	On October 17, 2014, the Company granted under the Company’s Amended and Restated Equity Incentive Plan 2,500,000 four year options at an exercise price of $0.05 per share to each of the two officers of the Company and a director, with the options vested on the date of the grant. The options were valued at $281,388 using the Black-Scholes option pricing model. The options were valued using the following assumptions: (1) a risk free interest rate of 0.391%, (2) expected life of 2.0 years, (3) stock price volatility of 170.017% and (4) expected dividend yield of zero. Stock-based compensation of $281,388 was recorded during the quarter ended December 31, 2014. The closing price on the date of the grant was $0.0488.
	On December 31, 2014, the Company granted under the Company’s Amended and Restated Equity Incentive Plan an aggregate 3,500,000 four year options at an exercise price of $0.05 per share to three employees of the Company, with the options vested on the date of the grant. The options were valued at $130,099 using the Black-Scholes option pricing model. The options were valued using the following assumptions: (1) a risk free interest rate of 0.671%, (2) expected life of 2.0 years, (3) stock price volatility of 188.108% and (4) expected dividend yield of zero. Stock-based compensation of $130,099 was recorded during the quarter ended December 31, 2014. The closing price on the date of the grant was $0.0459.
	In addition to options under the 2007 EIP and the Amended and Restated Equity Incentive Plan, the Company previously issued non- plan options outside of these plans, exercisable over various terms up to a maximum of ten years.
	Stock option and warrant activity, both within the 2007 EIP Amended, the Restated Equity Incentive Plan and outside of these plans, for the six months ended December 31, 2014, are as follows:
		Stock Options			Stock Warrants
				Weighted			Weighted
				Average			Exercise
		Shares		Price	Shares		Price
	Outstanding at June 30, 2014	8,925,000	$	0.24	25,283,511	$	0.62
	Granted	18,500,000	$	0.052	6,580,115		0.04
	Canceled	-14,025,000	$	0.13	- --		- --
	Expired	- --		- --	-7,986,302	$	0.27
	Exercised	- --		- --	- --		- --
	Outstanding at December 31, 2014	13,400,000	$	0.1	23,877,324	$	0.58
	Stock options and warrants outstanding and exercisable at December 31, 2014, are as follows:
		Outstanding and Exercisable Options							O utstanding and Exercisable
									Warrants
					Weighted							Weighted
					Average							Average
					Contractual		Weighted					Contractual		Weighted
	Exercise				Remaining		Average		Exercise			Remaining		Average
	Price	Outstanding		Exercisable	Life		Exercise		Price	Outstanding	Exercisable	Life		Exercise
	Range	Number		Number	(in Years)		Price		Range	Number	Number	(in Years)		Price
								$	0.026	3,205,115	3,205,115	1.81	$	0.026
	$0.05	11,000,000		11,000,000	3.92	$	0.05	$	0.06	3,375,000	3,375,000	0.99	$	0.06
	$0.08	400,000		400,000	4.03	$	0.08	$	0.38	523,434	523,434	2.71	$	0.38
	$0.14	600,000		600,000	3.6	$	0.14	$	0.4	10,744,286	10.744286	2.61	$	0.4
	$0.32	450,000		450,000	3	$	0.32	$	0.87	500,000	500,000	1.59	$	0.87
	$0.36	700,000		700,000	3	$	0.36	$	1	600,000	600,000	1.85	$	1
	$1.00	250,000		250,000	0.29	$	1	$	1.25	250,000	250,000	0.04	$	1.25
		--		--				$	1.5	833,334	833,334	1	$	1.5
		--		--				$	1.7	3,846,155	3,846,155	0.05	$	1.7
		13,400,000		13,400,000						23,877,324	23,877,324
		Outstanding Options			3.76	$	0.1		Outstanding Warrants			1.74	$	0.58
		Exercisable Options			3.76	$	0.1		Exercisable Warrants			1.74	$	0.58
	As of December 31, 2014, the aggregate intrinsic value of all stock options and warrants vested and expected to vest was $63,782 and the aggregate intrinsic value of currently exercisable stock options and warrants was $63,782. The intrinsic value of each option share is the difference between the fair market value of the common stock and the exercise price of such option or warrant share to the extent it is "in-the-money". Aggregate intrinsic value represents the value that would have been received by the holders of in-the-money options had they exercised their options on the last trading day of the quarter and sold the underlying shares at the closing stock price on such day. The intrinsic value calculation is based on the $0.0459 closing stock price of the common stock on December 31, 2014.
	The total intrinsic value associated with options exercised during the six months ended December 31, 2014, was $-Intrinsic value of exercised shares is the total value of such shares on the date of exercise less the cash received from the option or warrant holder to exercise the options.
	The total fair value of options and warrants granted during the six months ended December 31, 2014, was approximately $662,463. The total grant-date fair value of option and warrant shares vested during the six months ended December 31, 2014, was $662,463.

LEGAL_PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Dec. 31, 2014
LEGAL PROCEEDINGS [Text Block]	NOTE 11 – LEGAL PROCEEDINGS
	In October 2013 Lone Mountain Ranch, LLC, owner of the surface estate overlying our Ortiz gold property, filed a lawsuit against the Company and our lessor, Ortiz Mines, Inc. The lawsuit seeks to clarify Lone Mountain Ranch's rights and obligations under the split estate regime. Specifically, Lone Mountain Ranch seeks a declaratory judgment that it may participate in permit hearings, agency proceedings, and private activities related to the permitting of the Ortiz project without being in violation of common law duties to not interfere with development of the mineral estate. The Company conducted a strategic evaluation as whether or not to continue with the Ortiz Gold Project. Given the public opposition to the Ortiz Gold Project, Santa Fe has decided not to further pursue the Ortiz Gold Project.
	We are in litigation with two vendors for claims for approximately $140,400 and $125,876, respectively against us. If the Company is unsuccessful in raising additional funding, we may not be able to pay resolve these lawsuits and our business may not continue as a going concern. In the event we cannot raise the necessary capital or we cannot restructure through negotiated modifications, we may be required to effect under court supervision pursuant to a voluntary bankruptcy filing under Chapter 11 or Chapter 7 of the U.S. Bankruptcy Code (“Chapter 11 or “Chapter 7”). See “Risk factors.”
	We are in litigation with a purported royalty holder of our Summit Silver Gold Project. The purported royalty holder is seeking $500,000 in past due royalty payments and a return of the Summit mine. The Company is in discussions with the royalty holder to resolve the dispute.  If the Company is unable to resolve the dispute, the Company believes that it has valid defenses against the claims the Company intends to file numerous counter-claims and cross-claims seeking damages significantly in excess of $500,000. If the Company is unsuccessful in the litigation or in raising additional funding, we may not be able to resolve this lawsuits and our business may not continue as a going concern. In the event we cannot raise the necessary capital or we cannot restructure through negotiated modifications, we may be required to effect under court supervision pursuant to a voluntary bankruptcy filing under Chapter 11 or Chapter 7 of the U.S. Bankruptcy Code (“Chapter 11 or “Chapter 7”). See “Risk Factors.”
	We are subject from time to time to litigation, claims and suits arising in the ordinary course of business. Other than the above-described litigation, as of December 31, 2014, we were not a party to any material litigation, claim or suit whose outcome could have a material effect on our financial statements.
	In accordance with accounting standards regarding loss contingencies, the Company accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated, and the Company discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated, or when the liability is believed to be only reasonably possible or remote.
	Because litigation outcomes are inherently unpredictable, the Company’s evaluation of legal proceedings often involves a series of complex assessments by management about future events and can rely heavily on estimates and assumptions. If the assessments indicate that loss contingencies that could be material to any one of its financial statements are not probable, but are reasonably possible, or are probable, but cannot be estimated, then the Company discloses the nature of the loss contingencies, together with an estimate of the range of possible loss or a statement that such loss is not reasonably estimable. While the consequences of certain unresolved proceedings are not presently determinable, and an estimate of the probable and reasonably possible loss or range of loss in excess of amounts accrued for such proceedings cannot be reasonably made, an adverse outcome from such proceedings could have a material adverse effect on its financial statements in any given reporting period. However, in the opinion of Management, after consulting with legal counsel, the ultimate liability related to the current outstanding litigation is not expected to have a material adverse effect on its financial statements.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS [Text Block]	Note 12 – SUBSEQUENT EVENTS
	The Company’s Management evaluated subsequent events through February 23, 2015.  There were no material subsequent events that required recognition or additional disclosure in these financial statements.

Recovered_Sheet1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2014
Basis of Presentation and Going Concern [Policy Text Block]	Basis of Presentation and Going Concern
	The financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. Should the Company be unable to continue as a going concern, it may be unable to realize the carrying value of its assets and to meet its liabilities as they become due.
Principles of Consolidation [Policy Text Block]	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Azco Mica, Inc., a Delaware corporation, The Lordsburg Mining Company, a New Mexico corporation, and Santa Fe Gold Barbados Corporation, a Barbados corporation. All significant inter-company accounts and transactions have been eliminated in consolidation.
Reclassifications [Policy Text Block]	Reclassifications
	Certain items in these consolidated financial statements have been reclassified to conform to the current year’s presentation.
Estimates [Policy Text Block]	Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.
	Significant estimates are used when accounting for the Company’s carrying value of mineral properties, fixed assets, depreciation and amortization, accruals, derivative instrument liabilities, taxes and contingencies, asset retirement obligations, revenue recognition, and stock-based compensation which are discussed in the respective notes to the consolidated financial statements.
Fair Value Measurements [Policy Text Block]	Fair Value Measurements
	The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximated their related fair values as of December 30, 2014 and June 30, 2014, due to the relatively short-term nature of these instruments. The carrying value of the Company’s convertible notes payable approximates the fair value based on the terms at which the Company could obtain similar financing and the short term nature of these instruments.
Cash and Cash Equivalents [Policy Text Block]	Cash and Cash Equivalents
	The Company considers all liquid investments purchased with an initial maturity of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash balances. Restricted cash is excluded from cash and cash equivalents and is included in other assets.
Accounts Receivable [Policy Text Block]	Accounts Receivable
	Accounts receivable consist of trade receivables from precious metals sales of concentrate and flux. In evaluating the collectability of accounts receivable, the Company analyzes past results and identifies trends for each major payer source of revenue for the purpose of estimating an allowance for doubtful accounts. Data in each major payer source are regularly reviewed to evaluate the adequacy of the allowance, and actual write-offs are charged against the allowance. There was no allowance for doubtful accounts as of December 31, 2014, and June 30, 2014.
	On June 30, 2013, the Company signed a Waiver of Default Letter (the “Letter”) with Waterton wherein the Company agreed to sell, convey, assign and transfer certain accounts receivable as consideration for Waterton’s waiver for non-payment under the Senior Secured Gold Stream Agreement. The transfer of the accounts receivable to Waterton are to be treated as payment towards outstanding interest amounts with any remaining transfer of receivables to be treated as a payment towards other indebtedness under the Credit Agreement, including principal on the note. The valuation of receivables sold under the Letter was finalized at $1,018,056. Additionally, $813,919 of collected accounts receivable sold to Waterton still remains to be remitted to them and is recorded in Accrued Liabilities at December 31, 2014.
Inventory [Policy Text Block]	Inventory
	Major types of inventories include ore stockpile inventories, in-process inventories, siliceous flux material inventories and concentrate inventories. Inventories are carried at the lower of average cost or net realizable value. The net realizable value of ore stockpile inventories and in-process inventories represents the estimated future sales price of the product based on current and future metals prices, less the estimated costs to complete production and bring the product to sale. Concentrate inventories and siliceous flux material inventories are carried at the lower of full cost of production or net realizable value based on current and future metals prices. Write-downs of inventory are reported as a component of costs applicable to sales. The Company has no inventories at December 31, 2014.
Property, Equipment and Mine Development [Policy Text Block]	Property, Equipment and Mine Development
	Property and Equipment
	Property and equipment are carried at cost. Maintenance and repairs that do not improve or extend the life of the respective assets are expensed as incurred. Expenditures for new property or equipment and expenditures that extend the useful lives of existing property and equipment are capitalized and recorded at cost. Upon retirement, sale or other disposition, the cost and accumulated amortization are eliminated and the gain or loss is included in operations. Depreciation is taken over the estimated useful lives of the assets using the straight-line method. The estimated useful lives of property and equipment are shown below. Land is not depreciated.
		Estimated Useful
		Life
	Leasehold improvements	3 Years
	Office furniture and equipment	3 Years
	Mine processing equipment and buildings	7 – 20 Years
	Plant	3 – 9 Years
	Tailings	3 Years
	Environmental and permits	7 Years
	Asset retirement obligation	5 Years
	Automotive	3 – 5 Years
	Software	5 Years
	Mine Development
	Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure in an underground mine. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as exploration expense. Capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves.
	Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting non-reserve mineralization to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of costs applicable to sales.
	Mine development is amortized using the units-of-production method based upon estimated recoverable tonnage in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore body.
Mineral Properties [Policy Text Block]	Mineral Properties
	Mineral properties are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. When it is determined that a mineral property can be economically developed as a result of establishing reserves, subsequent mine development are capitalized and are amortized using the units of production method over the estimated life of the ore body based on estimated recoverable tonnage in proven and probable reserves.
	The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineralized material.
Impairment of Long-Lived Assets [Policy Text Block]	Impairment of Long-Lived Assets
	The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable. The assets are subject to impairment consideration if events or circumstances indicate that their carrying amount might not be recoverable. An impairment loss is recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. When impairment is identified, the carrying amount of the asset is reduced to its estimated fair value which is generally derived from estimated discounted cash flows.
	The Company is in active and continuing discussions with various strategic and financial financing sources concerning both the Summit Silver-Gold Project and/or the Lordsburg Copper Project. Additionally, the Company believes that it enjoys the support of Waterton, its major creditor at this time. It is unknown if such discussions will be successful in attaining a financing and necessary debt restructure that would allow the Company to continue operations under its current business plan.
	If discussions with these strategic and/or financing sources are unsuccessful the Company will not be able to continue as a going concern, and will likely be forced to seek relief under the U.S. Bankruptcy Code. At that time the Company would have to evaluate the circumstances and the potential impairment on its long- lived assets.
	As of December 31, 2014, and in light of current financing dialog with various potential strategic and financing sources, no events or circumstances have happened to indicate the related carrying values of long-lived assets may not be recoverable.
Derivative Financial Instruments [Policy Text Block]	Derivative Financial Instruments
	The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.
	The Company reviews the terms of convertible debt, equity instruments and other financing arrangements to determine whether there are embedded derivative instruments, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Also, in connection with the issuance of financing instruments, the Company may issue freestanding options or warrants that may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity. The Company may also issue options or warrants to non-employees in connection with consulting or other services.
Reclamation Costs [Policy Text Block]	Reclamation Costs
	Reclamation obligations are recognized when incurred and recorded as liabilities at fair value. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The reclamation obligation is based upon when spending for an existing disturbance will occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for reclamation obligations. As of December 31, 2014 and June 30, 2014, the Company had a reclamation obligation totaling $243,993 and $241,079, respectively.
Revenue Recognition [Policy Text Block]	Revenue Recognition
	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred physically, the price is fixed or determinable, no related obligations remain and collectability is probable.
	Sales of all metals products sold directly to the Company’s metals buyers, including by-product metals, are recorded as revenues upon a buyer either taking physical delivery of the metals product in the case of siliceous flux material or upon the buyer receiving all required documentation necessary to take physical delivery of the metals product in the case of concentrate (generally at the time the product is loaded onto a shipping vessel at the originating port and the bill of lading is generated).
	Revenues for metals products are recorded at current market prices at the time of delivery and are subsequently adjusted to the current market prices existing at the end of each reporting period. Due to the period of time existing between delivery and final settlement with the buyer, the Company estimates the prices at which sales will be settled. Changes in metals prices between delivery and final settlement will result in adjustments to revenues previously recorded.
	Sales of metals products are recorded net of charges from the buyer for treatment, refining, smelting losses, and other negotiated charges. Charges are estimated upon shipment of product based on contractual terms, and actual charges do not vary materially from estimates. Costs charged by smelters include a metals payable fee, fixed treatment and refining costs per ton of product.
Net Loss Per Share [Policy Text Block]	Net Loss Per Share
	Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings per share is calculated by dividing net income (loss) by the weighted average number of common shares and dilutive common stock equivalents outstanding. During the periods when they are anti-dilutive, common stock equivalents, if any, are not considered in the computation. For the three and six month periods ended December 31, 2014 and 2013, the impact of outstanding stock equivalents has not been included as they would be anti-dilutive.
Stock-Based Compensation [Policy Text Block]	Stock-Based Compensation
	In connection with terms of employment with the Company’s executives and employees, the Company occasionally issues options to acquire its common stock and issue stock in lieu of cash compensation. Awards are made at the discretion of the Board of Directors. Such options may be exercisable at varying exercise prices and generally vest when issued to over a period of six months to a year.
	The Company accounts for share-based compensation based upon on the grant date fair value of the award. The Company estimates the fair value of the award using the Black-Scholes option pricing model for valuation of the share-based payments. The Company believes this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for actual exercise behavior of option holders. The simplified method is used to determine compensation expense since historical option exercise experience is limited. The compensation cost is recognized over the expected vesting period.
Accounting Standards to be adopted in Future Periods [Policy Text Block]	Accounting Standards to be adopted in Future Periods
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which requires management to evaluate, in connection with financial statement preparation for each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and to provide related disclosures. ASU 2014-15 applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company has not studied this guidance and is not certain if the adoption of this guidance will have a material effect on its consolidated financial statements.
	Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Dec. 31, 2014
Schedule of Property, Plant and Equipment, Estimated Useful Life [Table Text Block]		Estimated Useful
		Life
	Leasehold improvements	3 Years
	Office furniture and equipment	3 Years
	Mine processing equipment and buildings	7 – 20 Years
	Plant	3 – 9 Years
	Tailings	3 Years
	Environmental and permits	7 Years
	Asset retirement obligation	5 Years
	Automotive	3 – 5 Years
	Software	5 Years

ACCRUED_LIABILITIES_Tables

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2014
Schedule of Accrued Liabilities [Table Text Block]				December 31,		June 30,
				2014		2014
		Interest	$	2,283,644	$	1,572,298
		Vacation		50,830		57,602
		Deferred and accrued payroll burden		209,313		133,890
		Franchise taxes		17,004		8,503
		Royalties		719,999		690,358
		Merger costs, net		269,986		269,986
		Other accrued expenses		314,435		133,958
		Audit and accounting		68,797		111,825
		Debt settlement		-		106,977
		Property taxes		159,159		135,000
		Receivables due Waterton		813,919		813,919
		Commodity supply agreements		3,237,409		3,989,846
			$	8,133,698	$	8,024,162

DERIVATIVE_INSTRUMENT_LIABILIT1

DERIVATIVE INSTRUMENT LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2014
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]			Derivative		Derivative		Gain for
			Liability as of		Liability as of		Six months ended
			30-Jun-14		31-Dec-14		31-Dec-14
	Warrants	$	292,124	$	280,953	$	11,171
	Amount allocated to note discount						75,000
	at inception
						$	86,171

CONVERTIBLE_NOTES_PAYABLE_Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended							12 Months Ended
	Dec. 31, 2014							Jun. 30, 2014
Schedule of Convertible Notes Payable and Debentures [Table Text Block]	December 31, 2014:		Principal		Unamortized			June 30, 2014:		Principal		Unamortized
			Amount		Discount		Net			Amount		Discount		Net
	Current portion	$	450,000	$	-	$	450,000	Current portion	$	450,000	$	-17,937	$	432,063
	Senior current portion		3,180,840		-		3,180,840	Long-term portion, net of current		3,673,527		-		3,673,527
	Convertible note, long term portion		83,333		(82,011		1,322
									$	4,123,527	$	-17,937	$	4,105,590
		$	3,714,173	$	-82,011	$	3,632,162

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2014
Schedule of Notes Payable [Table Text Block]			December 31,		June 30,
			2014		2014
	Working capital advances,	$	200,000	$	-
	interest at 1% per month, due January 15, 2015
	Installment sales contract on equipment,		8,294		16,354
	interest at 5.75%, payable in 36 monthly installments of $1,406, including
	interest through June 2015.
	Installment sales contract on equipment,		398,793		398,793
	interest at 5.75%, payable in 48 monthly installments of $13,874, including
	interest through July 2016.
	Unsecured bridge loan note payable,		1,745,092		1,745,092
	Interest at 2% monthly, payable August 17, 2014, six months after the first
	advance on the bridge loan.
	Senior Secured Gold Stream Credit Agreement, interest at		7,040,427		7,040,427
	9.00% per annum, payable monthly in arrears, principal payments deferred to
	July 2012; principal installments are $425,000 for July and August 2012,
	$870,455 monthly for December 2012 through June 2013 and $445,450 in
	July 2013; Note amended October 9, 2012, principal installments of
	$1,082,955 due October 2012, $500,000 November 2012, $0 due December
	2012 and January 2013, $3,852,275 February 2013, $870,455 March through
	June 2013, and $445,450 in July 2013.
	Total Outstanding Notes Payable		9,392,606		9,200,666
	Less: Current portion		-9,392,606		-9,200,666
	Notes payable, net of current portion and discount	$	- -	$	- -
	The aggregate maturities of notes payable as of December 31, 2014, is as follows:Year ending June 30,				9,392,606
	2015
	Total Outstanding Notes Payable			$	9,392,606

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended							12 Months Ended
	Dec. 31, 2014							Jun. 30, 2014
Fair Value Measurements, Nonrecurring [Table Text Block]							Balance at December 31,							Balance at June 30,
		Level 1	Level 2		Level 3		2014		Level 1	Level 2		Level 3		2014
								Assets:	- --	- --		- --		- --
	Assets:	- --	- --		- --		- --	None
	None
								Derivative instruments	- --	- --	$	292,124	$	292,124
	Liabilities:
	Derivative instruments	- --	- --	$	280,953	$	280,953

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Dec. 31, 2014
Schedule of Share-based Compensation, Stock Options, and Warrants or Rights Activity [Table Text Block]		Stock Options			Stock Warrants
				Weighted			Weighted
				Average			Exercise
		Shares		Price	Shares		Price
	Outstanding at June 30, 2014	8,925,000	$	0.24	25,283,511	$	0.62
	Granted	18,500,000	$	0.052	6,580,115		0.04
	Canceled	-14,025,000	$	0.13	- --		- --
	Expired	- --		- --	-7,986,302	$	0.27
	Exercised	- --		- --	- --		- --
	Outstanding at December 31, 2014	13,400,000	$	0.1	23,877,324	$	0.58
Disclosure of Share based Compensation Arrangements By Shares Based Payment Award and Warrants or Rights [Table Text Block]		Outstanding and Exercisable Options							O utstanding and Exercisable
									Warrants
					Weighted							Weighted
					Average							Average
					Contractual		Weighted					Contractual		Weighted
	Exercise				Remaining		Average		Exercise			Remaining		Average
	Price	Outstanding		Exercisable	Life		Exercise		Price	Outstanding	Exercisable	Life		Exercise
	Range	Number		Number	(in Years)		Price		Range	Number	Number	(in Years)		Price
								$	0.026	3,205,115	3,205,115	1.81	$	0.026
	$0.05	11,000,000		11,000,000	3.92	$	0.05	$	0.06	3,375,000	3,375,000	0.99	$	0.06
	$0.08	400,000		400,000	4.03	$	0.08	$	0.38	523,434	523,434	2.71	$	0.38
	$0.14	600,000		600,000	3.6	$	0.14	$	0.4	10,744,286	10.744286	2.61	$	0.4
	$0.32	450,000		450,000	3	$	0.32	$	0.87	500,000	500,000	1.59	$	0.87
	$0.36	700,000		700,000	3	$	0.36	$	1	600,000	600,000	1.85	$	1
	$1.00	250,000		250,000	0.29	$	1	$	1.25	250,000	250,000	0.04	$	1.25
		--		--				$	1.5	833,334	833,334	1	$	1.5
		--		--				$	1.7	3,846,155	3,846,155	0.05	$	1.7
		13,400,000		13,400,000						23,877,324	23,877,324
		Outstanding Options			3.76	$	0.1		Outstanding Warrants			1.74	$	0.58
		Exercisable Options			3.76	$	0.1		Exercisable Warrants			1.74	$	0.58

NATURE_OF_OPERATIONS_Narrative

NATURE OF OPERATIONS (Narrative) (Details)	Dec. 31, 2014	Jun. 30, 2008	31-May-06
	sqmi		acre
St. Cloud Mining Company [Member] | Purchase of Mining Claims [Member]
Area of Land	13
Number of Mining Claims	289
St. Cloud Mining Company [Member] | Patented mining claim [Member] | Assignments of Mining Claims [Member]
Number of Mining Claims		17
St. Cloud Mining Company [Member] | Patented mining claim [Member] | Purchase of Mining Claims [Member]
Number of Mining Claims		70
St. Cloud Mining Company [Member] | Unpatented mining claim [Member] | Assignments of Mining Claims [Member]
Number of Mining Claims		6
St. Cloud Mining Company [Member] | Unpatented mining claim [Member] | Purchase of Mining Claims [Member]
Number of Mining Claims		5
Summit silver-gold mine [Member] | Patented mining claim [Member]
Area of Land			117.6
Summit silver-gold mine [Member] | Patented mining claim [Member] | Hidalgo County, New Mexico [Member]
Area of Land			257
Summit silver-gold mine [Member] | Unpatented mining claim [Member] | Great County, New Mexico [Member]
Area of Land			520
Banner mill site [Member]
Area of Land		1,500

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended		1 Months Ended	4 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Sep. 30, 2013	Jun. 30, 2014
Net loss	$1,818,824	$1,345,891	$2,763,296	$5,345,466
Accumulated Deficit	88,745,784		88,745,784				85,982,488
Working Capital Deficit	28,236,260		28,236,260
Accrued liabilities	8,133,698		8,133,698				8,024,162
Asset retirement obligation	243,993		243,993				241,079
Letter with Waterton [Member]
Receivables Transferred					1,053,599	1,018,056
Accrued liabilities	813,919		813,919
Gold Stream Agreement [Member]
Debt Default, Amount	6,800,000		6,800,000
Waterton [Member]
Debt Default, Amount	$9,000,000		$9,000,000

DERIVATIVE_INSTRUMENT_LIABILIT2

DERIVATIVE INSTRUMENT LIABILITIES (Narrative) (Details) (USD $)	1 Months Ended		3 Months Ended		6 Months Ended
	Dec. 31, 2014	Oct. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
Derivative instrument liabilities	$280,953		$280,953		$280,953		$292,124
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.67%	0.39%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	2 years	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	220.14%	170.02%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Gain (loss) on derivative instrument liabilities			$598,886	$437,371	$86,171	$145,375
Derivative Instruments, Liabilities [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate					0.00%
Derivative Instruments, Liabilities [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					0.25%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term					0 years 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					168.90%
Derivative Instruments, Liabilities [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					0.97%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					220.17%

CONVERTIBLE_NOTES_PAYABLE_Narr

CONVERTIBLE NOTES PAYABLE (Narrative) (Details)

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

2 Months Ended

Nov. 30, 2014

Oct. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Jun. 30, 2014

Jan. 31, 2013

Jan. 31, 2013

Jan. 31, 2013

Jan. 15, 2013

Oct. 30, 2007

Oct. 31, 2014

Dec. 31, 2014

Oct. 31, 2007

Dec. 31, 2014

Jun. 30, 2014

Oct. 30, 2007

Oct. 31, 2007

Dec. 31, 2014

Jul. 31, 2013

Jul. 31, 2013

Dec. 31, 2014

Nov. 30, 2012

Nov. 30, 2012

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Expire October 23, 2014 [Member]

Expire November 20, 2014 [Member]

Extension of convertible notes payable to three accredited investors [Member]

Extension of convertible notes payable to three accredited investors [Member]

Extension of convertible notes payable to three accredited investors [Member]

Convertible Unsecured Note [Member]

Convertible Unsecured Note [Member]

10% Convertible Senior Subordinated Notes [Member]

10% Convertible Senior Subordinated Notes [Member]

10% Convertible Senior Subordinated Notes [Member]

10% Convertible Senior Subordinated Notes [Member]

10% Convertible Senior Subordinated Notes, amount per investor [Member]

10% Convertible Senior Subordinated Notes, Holders Who Desire to Convert Principal Into Shares [Member]

International Goldfields Limited [Member]

International Goldfields Limited [Member]

International Goldfields Limited [Member]

Binding Heads of Agreement [Member]

Binding Heads of Agreement [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Convertible Secured Notes [Member]

Convertible Secured Notes [Member]

Convertible Secured Notes [Member]

International Goldfields Limited [Member]

International Goldfields Limited [Member]

USD ($)

AUD

USD ($)

USD ($)

AUD

Notes Issued

$500,000

$450,000

$150,000

$300,000

Debt Instrument, Contractual Term

2 years

60 months

Debt Instrument, Interest Rate, Stated Percentage

12.00%

10.00%

10.00%

10.00%

10.00%

6.00%

6.00%

Class of Warrant or Right, Grants in Period, Contractual Term

2 years

5 years

Value of Note Issued per Warrant issued

2.5

Class of Warrant or Right, Grants in Period, Net of Forfeitures

3,375,000

3,205,115

6,580,115

375,000

187,500

562,500

180,000

Class of Warrant or Right, Grants in Period, Exercise Price

$0.06

$0.03

$1.25

Debt Instrument, Convertible, Conversion Price

$0.04

$0.40

$0.04

$1.25

Debt Instrument, Convertible, Automatic Conversion Price

$0.80

$2.50

Senior subordinated convertible notes payable, net of discount

0

0

3,673,527

450,000

450,000

Facilitation fee

300,000

Proceeds from Advances Received

1,250,000

Stock Issued to satisfy notes

9,259,259

9,259,259

Gain on debt extinguishment

64,978

62,939

0

62,939

0

615,781

Proceeds from Secured Notes Payable

2,000,000

3,985,000

3,900,000

Proceeds from Unsecured Notes Payable

75,000

Notes Issued, Original Issue Discount

8,333

Notes Issued, Original Issue Discount, Percentage

10.00%

Derivative, Loss on Derivative

68,969

Convertible notes payable

$1,322

$1,322

$0

$3,180,840

Class of Warrant or Right, Grants in Period, Strike Price

$0.40

SENIOR_SECURED_GOLD_STREAM_CRE1

SENIOR SECURED GOLD STREAM CREDIT AGREEMENT (Narrative) (Details) (USD $)

6 Months Ended

1 Months Ended

2 Months Ended

10 Months Ended

1 Months Ended

4 Months Ended

1 Months Ended

4 Months Ended

6 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2011

Aug. 31, 2012

Jun. 30, 2013

Jul. 31, 2013

Feb. 28, 2013

Jan. 31, 2013

Dec. 31, 2012

Nov. 30, 2012

Oct. 31, 2012

Jun. 30, 2013

Jun. 30, 2013

Sep. 30, 2013

Jun. 30, 2013

Jun. 30, 2014

Dec. 23, 2011

Payments on notes payable

$8,060

$130,636

Notes Payable

9,392,606

9,200,666

Receivables due to Waterton

813,919

813,919

Two $10 million tranches [Member]

Proceeds from credit agreement

10,000,000

Credit agreements closed

10,000,000

$5 million revolving working capital facility [Member]

Line of Credit

5,000,000

Senior Secured Gold Stream Credit Agreement [Member]

Debt Instrument, Interest Rate, Stated Percentage

9.00%

Credit agreement, coupon rate

9.00%

Debt Instrument, Periodic Payment

445,450

425,000

870,455

Notes Payable

7,040,427

7,040,427

Senior Secured Gold Stream Credit Agreement - Amendment 1 [Member]

Debt Instrument, Periodic Payment

445,450

3,852,275

0

0

500,000

1,082,955

870,455

Senior Secured Bridge loan [Member]

Payments on notes payable

5,000,000

Letter with Waterton [Member]

Receivables Transferred

1,053,599

1,018,056

Notes Reduction

116,693

Interest Payable Reduction

768,263

Financing Interest Expense

168,643

6,398

162,245

Increase in Notes Payable, Principal Portion

29,145

Decrease in Notes Payable, Principal Portion

739,118

Receivables due to Waterton

$813,919

NOTES_PAYABLE_Narrative_Detail

NOTES PAYABLE (Narrative) (Details) (USD $)	1 Months Ended
	Feb. 14, 2014	31-May-12	Jun. 30, 2012	Dec. 31, 2014	Jun. 30, 2014	Jan. 23, 2014	Jul. 15, 2014
Notes Payable				$9,392,606	$9,200,666
Accrued liabilities				8,133,698	8,024,162
Tyhee Bridge Loan Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage	24.00%
Accrued liabilities				269,986
Obligated Advances Receivable, Amount						3,000,000
Proceeds from Advances	1,745,092
Break Fee				300,000
Installment sales contract 1 [Member]
Notes Payable				8,294	16,354
Debt Instrument, Interest Rate, Stated Percentage		5.75%		5.75%
Installment sales contract		46,379		8,294	16,354
Notes Issued, Term		36 months
Installment sales contract 2 [Member]
Notes Payable				398,793	398,793
Debt Instrument, Interest Rate, Stated Percentage			5.75%	5.75%
Installment sales contract			593,657	398,793	398,793
Notes Issued, Term			48 months
Carnac [Member]
Notes Payable				200,000	0		220,000
Debt Instrument, Interest Rate, Stated Percentage				1.00%			1.00%
Accrued liabilities				$20,000

CONTINGENCIES_AND_COMMITMENTS_

CONTINGENCIES AND COMMITMENTS (Narrative) (Details) (USD $)

6 Months Ended

12 Months Ended

1 Months Ended

2 Months Ended

1 Months Ended

Dec. 31, 2014

Jun. 30, 2012

Dec. 31, 2011

Oct. 31, 2009

Aug. 31, 2011

Jun. 30, 2014

Dec. 23, 2011

Sep. 11, 2009

Mar. 29, 2011

Aug. 09, 2011

Jun. 28, 2011

Sep. 09, 2011

Royalty Expense

$29,642

Accrued Royalty Liability

719,999

Increase in Completion guarantee payable

504,049

Completion guarantee payable

3,359,873

3,359,873

Net Smelter Returns $0 to $1,250,000 [Member]

Mineral Property, Royalty Percentage

7.50%

Net Smelter Returns $1,251,000 to $4,000,000 [Member]

Mineral Property, Royalty Percentage

5.00%

Sales of unbeneficiated mineralized rock before Net Smelter Returns of $4,000,000 [Member]

Mineral Property, Royalty Percentage

5.00%

Sales of unbeneficiated mineralized rock after Net Smelter Returns of $4,000,000, towards an end price of $2,400,000 [Member]

Mineral Property, Royalty Percentage

10.00%

Future Production [Member]

Mineral Property, Royalty Percentage

1.00%

President and CEO [Member]

Accrued Royalty Liability

222,362

Gold Stream Agreement [Member]

Price per Ounce of Gold

400

Commitment, Sale of Ounces of Gold

3,709

Supply Commitment, Remaining Minimum Amount Committed

3,000,000

Two $10 million tranches [Member]

Proceeds from credit agreement

10,000,000

Credit agreements closed

10,000,000

$5 million revolving working capital facility [Member]

Line of Credit

5,000,000

Definitive Gold sale agreement with Sandstorm [Member] | Summit silver-gold mine [Member]

Proceeds from Other Deposits

4,000,000

Price per Ounce of Gold

400

Definitive Gold sale agreement with Sandstorm [Member] | Summit silver-gold mine [Member] | First 10,000 ounces of gold produced [Member]

Gold production subject to the agreement

50.00%

Definitive Gold sale agreement with Sandstorm [Member] | Summit silver-gold mine [Member] | Gold produced after first 10,000 ounces [Member]

Gold production subject to the agreement

22.00%

Definitive Gold sale agreement with Sandstorm Amendment 1 [Member] | Summit silver-gold mine [Member]

Additional ounces of gold required

700

Definitive Gold sale agreement with Sandstorm Amendment 2 [Member] | Summit silver-gold mine [Member]

Price per Ounce of Gold

400

Additional ounces of gold required

700

Ounces of gold delivered

817

Net cost of delivering gold

1,075,785

Gold and Silver Supply Agreement [Member]

Commitment, Sale of Ounces of Gold

125,000

Supply Commitment, Remaining Minimum Amount Committed

611,503

242,528

Transaction Cost per Ounce of Gold

1.75

Transaction Cost per Ounce of Silver

$0.07

STOCKHOLDERS_EQUITY_Narrative_

STOCKHOLDERS' EQUITY (Narrative) (Details) (USD $)	1 Months Ended				3 Months Ended		6 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Oct. 31, 2014	Jul. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Oct. 17, 2014	Jun. 30, 2014
Debt Conversion, Converted Instrument, Amount				$200,000
Debt Conversion, Converted Instrument, Shares Issued				4,000,000
Stock Issued During Period, Shares, Settlement of Debt			792,420
Share Price	$0.05		$0.14		$0.05		$0.05		$0.05
Gain on debt extinguishment			64,978		62,939	0	62,939	0
Extinguishment of Debt, Amount			106,977
Stock Issued During Period, Shares, Issued for Cash		3,375,000
Proceeds from Issuance of Common Stock		202,500					202,500	0
Class of Warrant or Right, Grants in Period, Net of Forfeitures		3,375,000	3,205,115				6,580,115
Class of Warrant or Right, Expirations in Period							7,986,302
Debt Instrument, Convertible, Conversion Price			$0.04
Warrants Issued During Period, Value		124,089	126,887
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate		0.15%	0.59%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term		1 year 4 days	1 year 9 months 22 days
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Volatility Rate		220.14%	196.37%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Dividend Rate		0.00%	0.00%
Class of Warrant or Right, Grants in Period, Exercise Price		$0.06	$0.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	3,500,000		2,500,000				18,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$0.05		$0.05				$0.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period							14,025,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Contractual Term	4 years		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value	$130,099		$281,388
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.67%		0.39%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	2 years		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	220.14%		170.02%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%		0.00%
Share-based Compensation	130,099		281,388				411,487	394,864
Convertible notes payable	1,322				1,322		1,322			0
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	63,782				63,782		63,782
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Exercisable, Intrinsic Value	63,782				63,782		63,782
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Grants in Period, Fair Value							662,463
Share-based Compensation Arrangement by Share-based Payment Award, Options and Warrants, Vested in Period, Grant Date Fair Value							662,463
Two related party creditors [Member]
Stock Issued During Period, Shares, Settlement of Debt		800,000
Gain on debt extinguishment		1,360
Extinguishment of Debt, Amount		40,000
A creditor [Member]
Stock Issued During Period, Shares, Settlement of Debt		400,000
Gain on debt extinguishment		680
Extinguishment of Debt, Amount		20,000
Carnac [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures							7,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$0.06
Qualified Financing Requirement							$20,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Contractual Term							5 years

LEGAL_PROCEEDINGS_Narrative_De

LEGAL PROCEEDINGS (Narrative) (Details) (USD $)	6 Months Ended
	Dec. 31, 2014
Vendor 1 [Member]
Loss Contingency, Damages Sought, Value	$140,400
Vendor 2 [Member]
Loss Contingency, Damages Sought, Value	125,876
Summit silver-gold mine [Member]
Loss Contingency, Damages Sought, Value	$500,000

Schedule_of_Property_Plant_and

Schedule of Property, Plant and Equipment, Estimated Useful Life (Details)	6 Months Ended
	Dec. 31, 2014
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	3 years
Office furniture and equipment [Member]
Property, Plant and Equipment, Useful Life	3 years
Mine processing equipment and buildings [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	7 years
Mine processing equipment and buildings [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	20 years
Plant [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Plant [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	9 years
Tailings [Member]
Property, Plant and Equipment, Useful Life	3 years
Environmental and permits [Member]
Property, Plant and Equipment, Useful Life	7 years
Asset retirement obligation [Member]
Property, Plant and Equipment, Useful Life	5 years
Automotive [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Automotive [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years
Software [Member]
Property, Plant and Equipment, Useful Life	5 years

Schedule_of_Accrued_Liabilitie

Schedule of Accrued Liabilities (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Interest	$2,283,644	$1,572,298
Vacation	50,830	57,602
Deferred and accrued payroll burden	209,313	133,890
Franchise taxes	17,004	8,503
Royalties	719,999	690,358
Merger costs, net	269,986	269,986
Other	314,435	133,958
Audit	68,797	111,825
Debt settlement	0	106,977
Property taxes	159,159	135,000
Receivables due to Waterton	813,919	813,919
Commodity supply agreements	3,237,409	3,989,846
Accrued Liabilities, Current	$8,133,698	$8,024,162

Schedule_of_Derivative_Instrum

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
Derivative instrument liabilities	$280,953		$280,953		$292,124
Amount allocated to note discount at inception			75,000
Gain (loss) on derivative instrument liabilities	598,886	437,371	86,171	145,375
Warrants
Derivative instrument liabilities	280,953		280,953		292,124
Gain (loss) on derivative instrument liabilities			$11,171

Schedule_of_Convertible_Notes_

Schedule of Convertible Notes Payable and Debentures (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Debt Instrument, Face Amount	$3,714,173	$4,123,527
Debt Instrument, Unamortized Discount	-82,011	-17,937
Debt Instrument, Carrying Amount	3,632,162	4,105,590
Convertible debt, Current Portion [Member]
Debt Instrument, Face Amount	450,000	450,000
Debt Instrument, Unamortized Discount	0	-17,937
Debt Instrument, Carrying Amount	450,000	432,063
Senior Secured Convertible Debenture [Member]
Debt Instrument, Face Amount	3,180,840
Debt Instrument, Unamortized Discount	0
Debt Instrument, Carrying Amount	3,180,840
Convertible debt, Long-term portion [Member]
Debt Instrument, Face Amount	83,333	3,673,527
Debt Instrument, Unamortized Discount	-82,011	0
Debt Instrument, Carrying Amount	$1,322	$3,673,527

Schedule_of_Notes_Payable_Deta

Schedule of Notes Payable (Details) (USD $)	6 Months Ended	2 Months Ended	6 Months Ended	10 Months Ended	1 Months Ended						4 Months Ended
	Dec. 31, 2014	Aug. 31, 2012	Dec. 31, 2013	Jun. 30, 2013	Jul. 31, 2013	Feb. 28, 2013	Jan. 31, 2013	Dec. 31, 2012	Nov. 30, 2012	Oct. 31, 2012	Jun. 30, 2013	Jun. 30, 2014	31-May-12	Jun. 30, 2012	Jul. 15, 2014
Total Outstanding Notes Payable	$9,392,606											$9,200,666
Less: Current portion	-9,392,606											-9,200,666
Notes payable, net of current portion and discount	0											0
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	9,392,606
Installment sales contract 1 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.75%												5.75%
Debt Instrument, Number of Monthly Installments	36
Debt Instrument, Periodic Payment	1,406
Total Outstanding Notes Payable	8,294											16,354
Installment sales contract 2 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.75%													5.75%
Debt Instrument, Number of Monthly Installments	48
Debt Instrument, Periodic Payment	13,874
Total Outstanding Notes Payable	398,793											398,793
Unsecured bridge loan note payable [Member]
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Total Outstanding Notes Payable	1,745,092											1,745,092
Senior Secured Gold Stream Credit Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage	9.00%
Debt Instrument, Periodic Payment		425,000	445,450	870,455
Total Outstanding Notes Payable	7,040,427											7,040,427
Senior Secured Gold Stream Credit Agreement - Amendment 1 [Member]
Debt Instrument, Periodic Payment					445,450	3,852,275	0	0	500,000	1,082,955	870,455
Carnac [Member]
Debt Instrument, Interest Rate, Stated Percentage	1.00%														1.00%
Total Outstanding Notes Payable	$200,000											$0			$220,000

Fair_Value_Measurements_Nonrec

Fair Value Measurements, Nonrecurring (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Derivative instruments	$280,953	$292,124
Level 1 [Member]
Derivative instruments	0	0
Level 2 [Member]
Derivative instruments	0	0
Level 3 [Member]
Derivative instruments	$280,953	$292,124

Schedule_of_Sharebased_Compens

Schedule of Share-based Compensation, Stock Options, and Warrants or Rights Activity (Details) (USD $)	1 Months Ended			6 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Oct. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period				8,925,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period				$0.24
Class of Warrant or Right, Outstanding, Beginning of Period				25,283,511
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period				$0.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	3,500,000		2,500,000	18,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$0.05		$0.05	$0.05
Class of Warrant or Right, Grants in Period, Net of Forfeitures		3,375,000	3,205,115	6,580,115
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price				$0.04
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period				-14,025,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price				$0.13
Class of Warrant or Right, Forfeitures in Period				0
Class of Warrant or Right, Forfeitures in Period, Weighted Average Exercise Price				$0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period				0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price				$0
Class of Warrant or Right, Expirations in Period				-7,986,302
Class of Warrant or Right, Expirations in Period, Weighted Average Exercise Price				$0.27
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price				$0
Class of Warrant or Right, Exercises in Period				0
Class of Warrant or Right, Exercises in Period, Weighted Average Exercise Price				$0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period	13,400,000			13,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period	$0.10			$0.10
Class of Warrant or Right, Outstanding, End of Period	23,877,324			23,877,324
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period	$0.58			$0.58

Disclosure_of_Share_based_Comp

Disclosure of Share based Compensation Arrangements By Shares Based Payment Award and Warrants or Rights (Details) (USD $)	6 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	13,400,000	8,925,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	13,400,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 9 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.10	$0.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 9 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$0.10
Class of Warrant or Right, Outstanding	23,877,324	25,283,511
Class of Warrant or Right, Exercisable, Number	23,877,324
Class of Warrant or Right, Weighted Average Remaining Contractual Term	1 year 8 months 26 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.58	$0.62
Class of Warrant or Right, Exercisable Weighted Average Remaining Contractual Term	1 year 8 months 26 days
Class of Warrant or Right, Exercisable Weighted Average Exercise Price	$0.58
$0.05 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	11,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	11,000,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 11 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.05
$0.08 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	400,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	4 years 11 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.08
$0.14 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	600,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.14
$0.32 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	450,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	450,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.32
$0.36 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	700,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.36
$1.00 Exercise Price [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding	250,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	250,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term	0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$1
$0.026 Exercise Price [Member]
Class of Warrant or Right, Outstanding	3,205,115
Class of Warrant or Right, Exercisable, Number	3,205,115
Class of Warrant or Right, Weighted Average Remaining Contractual Term	1 year 9 months 22 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.03
$0.06 Exercise Price [Member]
Class of Warrant or Right, Outstanding	3,375,000
Class of Warrant or Right, Exercisable, Number	3,375,000
Class of Warrant or Right, Weighted Average Remaining Contractual Term	0 years 11 months 26 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.06
$0.38 Exercise Price [Member]
Class of Warrant or Right, Outstanding	523,434
Class of Warrant or Right, Exercisable, Number	523,434
Class of Warrant or Right, Weighted Average Remaining Contractual Term	2 years 8 months 16 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.38
$0.40 Exercise Price [Member]
Class of Warrant or Right, Outstanding	10,744,286
Class of Warrant or Right, Exercisable, Number	10.744286
Class of Warrant or Right, Weighted Average Remaining Contractual Term	2 years 7 months 10 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.40
$0.87 Exercise Price [Member]
Class of Warrant or Right, Outstanding	500,000
Class of Warrant or Right, Exercisable, Number	500,000
Class of Warrant or Right, Weighted Average Remaining Contractual Term	1 year 7 months 2 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$0.87
$1.00 Exercise Price [Member]
Class of Warrant or Right, Outstanding	600,000
Class of Warrant or Right, Exercisable, Number	600,000
Class of Warrant or Right, Weighted Average Remaining Contractual Term	1 year 10 months 6 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$1
$1.25 Exercise Price [Member]
Class of Warrant or Right, Outstanding	250,000
Class of Warrant or Right, Exercisable, Number	250,000
Class of Warrant or Right, Weighted Average Remaining Contractual Term	0 years 14 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$1.25
$1.50 Exercise Price [Member]
Class of Warrant or Right, Outstanding	833,334
Class of Warrant or Right, Exercisable, Number	833,334
Class of Warrant or Right, Weighted Average Remaining Contractual Term	1 year
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$1.50
$1.70 Exercise Price [Member]
Class of Warrant or Right, Outstanding	3,846,155
Class of Warrant or Right, Exercisable, Number	3,846,155
Class of Warrant or Right, Weighted Average Remaining Contractual Term	0 years 18 days
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price	$1.70