Santa Fe Gold (SFEG) 10-Q/A 9 Apr 19 2017 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2016	Apr. 01, 2019
Text Block [Abstract]
Registrant Name	SANTA FE GOLD CORPORATION
Registrant CIK	0000851726
SEC Form	10-Q/A
Period End date	Dec. 31, 2016
Fiscal Year End	--06-30
Trading Symbol	SFEG
Tax Identification Number (TIN)	841094315
Number of common stock shares outstanding		357,518,450
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Current with reporting	Yes
Amendment Description	This Amendment No. 1 on Form 10-Q/A for the quarter ended December 31, 2016, amends the Form 10-Q that was originally filed with the U.S. Securities Exchange Commission on January 25, 2018 (the “Original Filing”). The sole purpose of this Amendment No. 1 is to correct the balance sheet as of December 31, 2016, and the consolidated statements of operations and cash flows for the periods ended December 31, 2016, for the reclassification of misappropriated funds by a related party. Based on the Company’s reassessment of the transactions, the effect of the reclassifications resulted in a decrease in total assets, an increase in the net loss and increase in stockholders’ deficit. The following financial statements and disclosures were impacted from the reclassification: Restatement of the consolidated balance sheet as of December 31, 2016, and the related consolidated statements of operations and cash flows for the period then ended.
Amendment Flag	true
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Contained File Information, File Number	001-12974
Entity Incorporation, State Country Name	Delaware
Entity Address, Address Line One	PO Box 25201
Entity Address, City or Town	Albuquerque
Entity Address, State or Province	NM
Entity Address, Postal Zip Code	87125

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2016	Jun. 30, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 3,218	$ 2,815
Prepaid expenses and other current assets	7,694	4,475
Total Current Assets	10,912	7,290
Total Assets	10,912	7,290
CURRENT LIABILITIES:
Accounts payable	3,617,889	3,710,931
Accrued liabilities	6,307,279	6,793,984
Derivative instrument liabilities	360,725	306,488
Senior subordinated convertible notes payable, net of unamortized discount of $45,699 and $161,814, respectively	3,305,813	3,392,435
Notes payable, current portion	2,376,407	2,363,885
Completion guarantee payable	3,359,873	3,359,873
Total Current Liabilities	19,327,986	19,927,596
STOCKHOLDERS' DEFICIT:
Common stock, $.002 par value, 300,000,000 shares authorized; 245,749,389 and 221,799,662 shares issued and outstanding, respectively	491,497	443,599
Additional paid-in capital	80,901,198	80,033,944
Accumulated deficit	(100,709,769)	(100,397,849)
Total Stockholders' Deficit	(19,317,074)	(19,920,306)
Total Liabilities and Stockholders' Deficit	$ 10,912	$ 7,290

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Text Block [Abstract]
Debt Instrument, Unamortized Discount, Current	$ 45,699	$ 161,814
Common Stock, Par or Stated Value Per Share	$ 0.002	$ 0.002
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	245,749,389	221,799,662
Common Stock, Shares, Outstanding	245,749,389	221,799,662

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
SALES, net	$ 0	$ 4,235	$ 0	$ 6,250
OPERATING COSTS AND EXPENSES:
Exploration and other mine related costs	39,974	188,293	39,974	302,751
General and administrative	490,785	241,768	824,578	551,402
Depreciation and amortization	0	431,408	0	875,279
Reorganization costs	0	538,390	0	755,593
Total Operating Costs and Expenses	530,759	1,399,859	864,552	2,485,025
LOSS FROM OPERATIONS	(530,759)	(1,395,624)	(864,552)	(2,478,775)
OTHER INCOME (EXPENSE):
Gain on trust debt extinguishment	472,831	0	472,831	0
Gain on debt extinguishment	0	0	14,599	0
Foreign currency translation (loss) gain	210,695	(125,313)	101,554	162,772
Gain (loss) on derivative instrument liabilities	326,994	3,196	(54,237)	1,161,769
Misappropriated funds	0	0	(28,963)	0
Financing costs - commodity supply agreements	655,031	209,779	648,540	432,482
Finance charges	0	0	0	(74,458)
Interest expense	(305,183)	(751,758)	(601,692)	(1,564,579)
Total Other Income (Expense)	1,360,368	(664,096)	552,632	117,986
GAIN (LOSS) BEFORE PROVISION FOR INCOME TAXES	829,609	(2,059,720)	(311,920)	(2,360,789)
PROVISION FOR INCOME TAXES	0	0	0	0
NET INCOME (LOSS)	$ 829,609	$ (2,059,720)	$ (311,920)	$ (2,360,789)
Basic and Diluted Per Share Data
Net income (loss) - basic	$ 0	$ (0.01)	$ 0	$ (0.01)
Net Income (loss) - diluted	$ 0	$ (0.01)	$ 0	$ (0.01)
Weighted Average Common Shares Outstanding:
Basic	257,823,491	189,842,914	255,375,491	173,456,332
Diluted	319,005,982	189,842,914	255,375,491	173,456,332

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (311,920)	$ (2,360,789)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	0	875,279
Stock issued for services	466,172	66,400
Amortization of discount on notes payable	116,115	176,101
Financing costs - commodity supply agreements	(648,540)	(432,482)
Non-cash financing costs	0	74,458
(Gain) loss on derivative instrument liabilities	54,237	(1,161,769)
(Gain) on debt extinguishment	(14,599)	0
Gain on trust debt extinguishment	(472,831)	0
Foreign currency translation	(101,554)	(162,772)
Net change in operating assets and liabilities:
Accounts receivable	0	34,833
Prepaid expenses and other current assets	(3,219)	(48,822)
Accounts payable and accrued liabilities	570,562	1,600,077
Net Cash Used in Operating Activities	(345,577)	(1,339,486)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from DIP funding	0	1,713,184
Proceeds from common stock purchases	224,490	0
Proceeds from exercise of warrants	224,490	0
Payment of DIP funding	0	(283,363)
Payments on convertible debt	(103,000)	0
Net Cash Provided by Financing Activities	345,980	1,429,821
INCREASE IN CASH AND CASH EQUIVALENTS	403	90,335
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	2,815	69,305
CASH AND CASH EQUIVALENTS, END OF PERIOD	3,218	159,640
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock returned and cancelled	45,828	0
Accrued interest reclassified to note principle	$ 12,522	$ 0
Common stock issued for convertible notes and accrued interest conversion	0	146,848
Discount on note payable	$ 0	$ 98,091
Resolution of derivative liability upon conversion	$ 0	$ 90,081

NOTE 1 - BASIS OF PRESENTATION

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN	NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN 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 accompanying unaudited financial statements and related notes present the Company’s consolidated financial position as of December 31, 2016 and June 30, 2016, the consolidated results of operations for the three and six months ended December 31, 2016 and 2015, consolidated cash flows for the six months ended December 31, 2016 and 2015. The unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended December 31, 2016, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2017. The accounting policies followed by the Company are set forth in Note 2 to the Company’s financial statements included in Form 10-K for the fiscal year ended June 30, 2016. These interim financial statements and notes thereto should be read in conjunction with the consolidated financial statements presented in the Company’s 2016 Annual Report on Form 10-K filed on November 14, 2017. Nature of Operations Santa Fe Gold Corporation (the “Company”, “our” or “we”) is a U.S. mining company incorporated in Delaware in August 1991. Our general business strategy is to acquire, explore, develop and mine mineral properties. The Company elected on August 26, 2015, to file for Chapter 11 Bankruptcy protection, Case # 15-11761 (MFW) and that case was dismissed on June 15, 2016. The Summit Silver-Gold Project, the Lordsburg Copper Project, Black Canyon Mica Project, Planet MIO Project, all claims and other assets were lost in the process. As the Company emerged from the bankruptcy we had a management team of two with no assets. The Company is in the process of raising equity funds to acquire new mining claims, a potential processing plant or arrangements with a processing plant in an acceptable geographic location to potential new mining claims. Restatement Effect on Financial Statements The following table illustrates the impact of the restatement of funds advanced to a related party and the restated unaudited consolidated balance sheet, the unaudited statement of operations and unaudited statement of cash flows for the period ended December 31, 2016. Additional information is disclosed in NOTE 14, SUBSEQUENT EVENTS, Entry into a Material Definitive Agreement. Effects on the previously issued financial statements are as follows: (A) (B) (C) (D) (E) As Previously Reported Adjustment As Restated Consolidated Balance Sheet at September 30, 2016: Mine Equipment, net of depreciation of $962 A $ 10,578 (10,578 ) — Total Assets $ 21,490 $ (10,578 ) $ 10,912 Accounts payable D $ 3,596,435 $ 21,454 $ 3,617,889 Accrued liabilities D $ 6,269,206 $ 38,073 $ 6,307.279 Notes Payable, current D $ 2,363,885 $ 12,522 $ 2,376,407 Total Current Liabilities $ 19,255,937 $ 72,049 $ 19,327,986 Common stock $ 491,951 $ (454 ) $ 491,497 Additional paid in capital $ 80,899,159 $ 2,039 $ 80,901,198 Accumulated deficit B, C, D $ (100,625,557 ) $ (84,212 ) $ (100,709,769 ) Stockholders’ Deficit $ (19,234,447 ) $ (82,627 ) $ (19,317,074 ) Total Liabilities and Stockholders’ Equity $ 21,490 $ (10,578 ) $ 10,912 Consolidated Statements of Operations for three months ended December 31, 2016: General and administrative B $ 467,746 $ 23,039 $ 490,785 Depreciation and amortization A $ 577 $ (577 ) $ — Total Operating Costs and Expenses $ 508,297 $ 22,462 $ 530,759 Loss from operations $ (508,297 $ (22,462 ) $ (530,759 ) Interest expense D $ (254,588 ) $ (50,595 ) $ (305,183 ) Total Other Income (Expense) $ 1,410,963 $ (50,595 ) $ 1,360,368 Net Income $ 902,666 $ (73,057 ) $ 829,609 Consolidated Statements of Operations for six months ended December 31, 2016: Exploration and other mine related costs E $ 57,397 $ (17,423 ) $ 39,974 General and administrative B $ 801,539 $ 23,039 $ 824,578 Depreciation and amortization A $ 962 $ (962 ) $ — Total Operating Expenses $ 859,898 $ 4,654 $ 864,552 Loss from Operations $ (859,898 ) $ (4,656 ) $ (864,552 ) Misappropriated funds C $ — $ (28,963 ) $ (28,963 ) Interest expense D $ (551,097 ) $ (50,595 ) $ (601,692 ) Total Other Income (Expense) $ 632,190 $ (79,558 ) $ 552,632 Net Loss $ (227,708 ) $ (84,212 ) $ (331,920 ) Consolidated Statement of Cash Flows for six months Net loss $ (227,708 ) $ (84,212 ) $ (311,920 ) Depreciation and amortization A $ 962 $ (962 ) $ — Stock issued for services $ 464,587 $ 1,585 $ 466,172 Accounts payable and accrued liabilities D $ 498,513 $ 72,049 $ 570,562 Net Cash Used in Operating Activities $ (334,037 ) $ (11,540 ) $ (345,577 ) Purchase of equipment A $ (11,540 ) $ 11,540 $ — Net Cash Used in Investing Activities $ (11,540 ) $ 11,540 $ — The information herein amends and supersedes the information contained in our Annual Report filed on Form 10-K for the year ended June 30,2017. The affected financial statements and related financial information contained in our previously filed reports for those periods should no longer be relied upon and should be read only in conjunction with the restated financial information set forth herein. 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 $311,920 for the six months ended December 31, 2016, and has a total accumulated deficit of $100,709,769 and a working capital deficit at December 31, 2016, of $19,317,074. The Company currently has no source of generating revenue. On August 26, 2015 Santa Fe filed for Chapter 11 Bankruptcy protection, Case # 15-11761 (MFW) in Delaware. With the dismissal of our bankruptcy case in June 15, 2016, all assets of the Company were sold. These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern. To continue as a going concern, the Company is dependent on continued capital financing for project development, repayment of various debt facilities and payment of current operating expenses until the Company has acquired new mining claims and an acceptable source to process the mineralized ore to generate revenue. We have no commitment from any party to provide additional working capital and there is no assurance that any funding will be available as required, or if available, that its terms will be favorable or acceptable to the Company. On December 31, 2016, the Company was in default on payments of approximately $6.92 million under a gold stream agreement (the “Gold Stream Agreement”) with Sandstorm Gold Ltd. (“Sandstorm”).

NOTE 2 - SUMMARY OF SIGNIFICANT

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 and Santa Fe Acquisitions Company, a New Mexico Limited Liability Company. All significant inter-company accounts and transactions have been eliminated in consolidation 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, 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, accounts payable and accrued liabilities approximated their related fair values as of December 31, 2016, and June 30, 2016, 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. 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. 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 as a one day derivative loss, 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, using the effective interest method. When required to arrive at the fair value of derivatives associated with the convertible note and warrants, a Monte Carlo model is utilized that values the Convertible Note and Warrant based on average discounted cash flow factoring in the various potential outcomes by a Chartered Financial Analyst (‘CFA”). In determining the fair value of the derivatives the CFA assumed that the Company’s business would be conducted as a going concern. 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. Net Income (Loss) Per Share Basic earnings income (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 are 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 months ended December 31, 2015 and six months ended December 31, 2016 and 2015, the impact of outstanding stock equivalents has not been included as they would be anti-dilutive. For the three months ended December 31, 2016, diluted earnings per share is disclosed below: A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computation is as follows: Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount For the three months ended December 31, 2016 Basic EPS Income available to common stockholders $ 829,609 257,823,491 $ 0.00 Diluted EPS Dilutive effect of convertible notes (284,990 ) 61,182,491 Income available to common stockholders plus assumed conversions $ 544,619 319,005,982 $ 0.00 Dilutive potential common shares consist of convertible notes. The number of stock options excluded from the calculation of diluted earnings per share for the three months ended December 31, 2016 was 475,000 and excluded warrants was 9,693,464, because their inclusion would have been 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. Awards are made at the discretion of the Board of Directors. Such options may be exercisable at varying exercise prices and generally vest over a period of six months to a year. The Company accounts for share based compensation 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 compensation cost is recognized over the expected vesting period. Share based payments to nonemployees are valued at the earlier or a commitment date or completion of services. Accounting Standards to be adopted in Future Periods In May 2014, the FASB issued ASC updated No. 2014-09, Revenue from Contracts with Customers (Topic 606 (ASU 2014-09) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40) Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2016, the FASB has issued ASU No. 2016-18 , Statement of Cash Flows (Topic 230) In May 2017, FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, which amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which would be the Company's fiscal year ending March 31, 2019. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. While the Company does not expect the adoption of ASU 2017-09 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2017-09 may have on its financial position, results of operations or cash flows. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows.

NOTE 3 - ACCRUED LIABILITIES

NOTE 3 - ACCRUED LIABILITIES	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 3 - ACCRUED LIABILITIES	NOTE 3 - ACCRUED LIABILITIES Accrued liabilities consist of the following at December 31, 2016 and June 30, 2016: December 31, June 30, 2016 2016 Interest $ 2,730,965 $ 2,589,993 Vacation 15,771 15,771 Deferred and accrued payroll burden 223,569 239,262 Franchise taxes 8,695 8,695 Merger costs, net 269,986 269,986 Other 18,135 19,578 Audit 20,000 20,000 Commodity supply agreement 2,766,635 3,415,175 Property taxes 253,523 215,524 $ 6,307,279 $ 6,793,984

NOTE 4 - DERIVATIVE INSTRUMENT

NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES	NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES The fair market value of the derivative instruments liabilities were determined utilizing the Black-Scholes option pricing model for warrants and certain convertible notes and to arrive at the fair value of derivatives associated with certain other convertible notes, a Monte Carlo model was utilized that values the Convertible Notes based on average discounted cash flow factoring in the various potential outcomes. In determining the fair value of the derivatives it was assumed that the Company’s business would be conducted as a going concern at December 31, 2016. Utilizing the two methods, the aggregate fair value of the derivative instruments liability was determined to be $360,725 as of December 31, 2016. The following assumptions were utilized in the Black-Scholes option pricing model: (1) risk free interest rate of 0.1631% to 1.27%, (2) remaining contractual life of 0.03 to 2.26 years, (3) expected stock price volatility of 104% to 463%, and (4) expected dividend yield of zero. The following assumptions were utilized in the Monte Carlo model: (1) features in the note that were analyzed and incorporated into the model included the conversion feature with the reset provisions, (2) redemption provisions and the default provisions, (3) there are four primary events that can occur; payments are made in cash; payments are made with stock; the Holder converts the note; or the Company defaults on the note,(4) stock price of $0.0009 to $0.176 was utilized, (5) notes convert with variable conversion prices based on the lesser range from of $0.0425 or $0.125 or a fixed rate of 60% or 65% of either the low 20 or 25 TD, depending on the lender and (6) annual volatility for each valuation period was based on the historic volatility of the Company of 93%-99%. Based upon the change in fair value, the Company has recorded a non-cash loss on derivative instruments for the six months ended December 31, 2016, of $54,237. The table below shows the loss on the derivative instruments liability for the six months ended December 31, 2016. Derivative Derivative Valuation Change Liability as of Liability as of for the six months ended June 30, 2016 December 31, 2016 December 31, 2016 Purchase Agreement Warrants and Convertible Debt $ 306,488 $ 360,725 $ (54,237) Loss on Derivatives $ (54,237) 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.

NOTE 5 - COMPLETION GUARANTEE P

NOTE 5 - COMPLETION GUARANTEE PAYABLE	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 5 - COMPLETION GUARANTEE PAYABLE	NOTE 5 - COMPLETION GUARANTEE PAYABLE At June 30, 2012, the Company calculated the completion guarantee payable provided by Amendment 1 noted on the Company’s June 30, 2016 10-K. Based upon the provisions of the Agreement and the related completion guarantee test, incremental financing charges totaling $504,049 were recognized in Other Expenses and accrued at June 30, 2012. These accrued charges, combined with the remaining uncredited liability totaled $3,359,873 at December 31, 2016 and June 30, 2016, respectively, and are reported as completion guarantee payable and is due and in default due to the bankruptcy.

NOTE 6 - CONVERTIBLE NOTES PAYA

NOTE 6 - CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 6 - CONVERTIBLE NOTES PAYABLE	NOTE 6 - 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 the transaction 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. All issued warrants have expired. 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 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 date. 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 and have expired. As of December 31 and June 30, 2016, the outstanding principal balance was $450,000 and accrued interest on the senior subordinated convertible notes was $145,438 and $144,500, respectively, and is in default. In December 2016 the court administered trust paid and aggregate $23,000 to the note holders and was applied against the accrued interest on the notes. In March 2017 the three accredited investors reached an agreement with the Company for an aggregate cash settlement of $13,500 on all the outstanding principles and accrued interest as payment in full. The settlement amount was paid according to the terms of the settlement in March 2017. Convertible Secured Notes In October and November 2012, the Company received advances totaling A$3,900,000 (A$ - Australia dollars), 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. The conversion price at December 31, 2016, was approximately $0.05 per share. On October 31, 2015, the note became convertible and the CFA computed 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 and is expensed over the life of the Note under the effective interest method. The initial carrying value of the embedded conversion option was $98,091. During the year ended June 30, 2016, amortization of loan discount was recognized as interest expense of $48,251 and during the six months ended December 31, 2016, amortization of loan discount recognized as interest expense was $36,295 and unamortized discount balance was $13,545 at December 31, 2016. On December 31 and June 30, 2016, the total outstanding principal balance on the IGS Secured Convertible Note totaled $2,818,179 and $2,903,316, respectively, and accrued interest was $540,789 and $642,624, respectively. The note is currently due and in default at December 31, 2016. In December 2016 the court administered trust paid $174,507 to the note holder and was applied against the accrued interest on the note. IGS never submitted a conversion notice and in March 2017 reached an agreement with the Company for a cash settlement of $88,283 on the outstanding principle and accrued interest as payment in full. The settlement amount was paid by wire transfer in March 2017. Convertible Unsecured Notes On October 22, 2014, the Company signed a $500,000 Convertible Note with an accredited 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 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. During the fiscal year ended June 30, 2015, the investor converted note principle of $68,900 into 1,800,000 shares of restricted common stock. During the fiscal year ended June 30, 2016, the investor converted the balance of the note principle and added interest charges aggregating $24,433 into 916,078 shares of restricted common stock and the note was retired. The original consideration contained 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 and is expensed over the life of the Note under the effective interest method. During the fiscal year ended June 30, 2016, amortization of the remaining discount balance was recognized as interest expense of $20,185. On February 25, 2015, a second consideration tranche of $50,000 was delivered under this Convertible Note under the same terms and conditions, net of and OID charge of $5,556. The tranche 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 and is expensed over the life of the Note under the effective interest method. During the fiscal year ended June 30, 2016, amortization of loan discount was recognized as interest expense of $60,973. During the fiscal year ended June 30, 2016, the investor converted the principle balance and added interest charges aggregating $62,223 into 27,522,855 shares of restricted common stock and the note was retired. During the six months ended December 31, 2015, the Company recorded $90,081 as resolution of derivative liability upon note conversions back into Additional Paid in Capital. On June 24, 2015, a third Consideration tranche of $50,000 was delivered under this Convertible Note under the same terms and conditions, net of and OID charge of $5,556. The tranche 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 and is expensed over the life of the Note under the effective interest method. During the fiscal years ended June 30, 2016, $6,666 was added to the note principle and note discount and amortization of the loan discount was recognized as interest expense of $5,541 for the fiscal year ended June 30, 2016. No note conversions were made on the note during the fiscal years ended June 30, 2016 and 2015. During fiscal year ended June 30, 2016, $31,111 in default charges was added to the note balance. At December 31, 2016 and June 30, 2016, the note balance was $83,333 and $93,333 respectively, and amortization of the loan discount was recognized as interest expense of $23,934 for the six months ended December 31, 2016 and the unamortized loan discount balance as of December 31 and June 30, 2016, was $32,154 and $56,088, respectively. The conversion price with this investor is the lesser of $0.0425 or 65% of the lowest trade price in the 25 trading days previous to the conversion date. At December 31, 2016, the third note tranche had a conversion price of $0.01625. Subsequent to December 31, 2016, the note was not converted and was retired for $80,000 in installments, the final installment made on January 25, 2017. On January 20, 2015 the Company signed a $250,000 Convertible Note with an accredited Investor and received on January 20, 2015, a consideration of net proceeds $50,000, net of an OID of $5,556. The consideration on the Note has a Maturity date of two years from payment of each consideration and has a 10% OID component attached to it. A one- time interest charge of 12% is applied to the principal sum on the on the date of the consideration. The Note principal and interest shall be paid at Maturity date or sooner as provided within the Note and conversion provisions. 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 tranche 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 and is expensed over the life of the Note under the effective interest method. On June 9, 2015, a second consideration tranche of $50,000 was delivered under this Convertible Note under the same terms and conditions, net of an original issue discount (“OID) of $5,556. The tranche 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 and is expensed over the life of the Note under the effective interest method. During the fiscal year ended June 30, 2016, amortization of loan discounts on the two notes was recognized as interest expense of $66,388. During the fiscal year ended June 30, 2016, the investor converted the note principle and added interest charges of $60,192 under the first consideration into 18,007,333 shares of restricted common stock. During the fiscal year ended June 30, 2016, penalties and default charges of $43,347 were added to the two note balances. At December 31 and June 30, 2016, the two note balances were $-0- and $107,599, respectively and the unamortized loan discounts were $0 and $55,886, respectively. During the six months ended December 31, 2016, amortization of the loan discount recognized as interest expense was $55,886. The conversion price with this investor on the two notes is the lesser of $0.125 or 60% of the lowest trade price in the 25 trading days previous to the conversion date. At June 30, 2016, the two note tranches had aggregated outstanding principal $107,599 and had a conversion price of $$0.0003. During the six months ended December 31, 2016, the notes were not converted and were retired for $93,000 in installments, the final installment made on September 6, 2016. The transaction resulted in recognition of a gain on extinguishment of debt of $14,599. The components of the unsecured convertible notes payable are as follows: December 31, 2016: Amount Unamortized Discount Net Current portion $ 3,351,512 $ (45,699 ) $ 3,305,813 June 30, 2016: Principal Amount Unamortized Discount Net Current portion $ 3,554,249 $ (161,814 ) $ 3,392,435

NOTE 7 - NOTES PAYABLE

NOTE 7 - NOTES PAYABLE	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 7 - NOTES PAYABLE	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 a $200,000 loan to the Company and a $20,000 merger advance. 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 not close under this Agreement and under the Agreement, the accrued interest at the time of the loan becoming due, was added to the outstanding principle balance at December 31, 2016, and from the loan due date the interest was recalculated at an increased interest rate of 14% per annum to December 31, 2016. At December 31 and June 30, 2016, the principle balance was $212,522 and $200,000, respectively and accrued interest on note is $48,468 and $47,402, respectively. In December 2016 the court administered trust paid $9,897 to the note holder and was applied against the accrued interest on the note. 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 at December 31 and June 30, 2016 and accrued interest of $53,291 and $59,238, respectively. In December 2016 the court administered trust paid $17,412 to the note holder and was applied against the accrued interest on the note. The Company has been unable to make its monthly payments since November 2013, currently is due and in default and the equipment has been returned to the vendor for sale and remains unsold at December 31, 2016. 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 at December 31 and June 30, 2016. This amount is net of a break fee of $300,000 due to the Company from Tyhee. Accrued interest on note at December 31 and June 30, 2016, was $1,110,001 and $990,657, respectively is due and in default. In December 2016 the court administered trust paid $91,788 to the note holder and was applied against the accrued interest on the note. The following summarizes notes payable: December 31, June 30, 2016 2016 Working capital advances, interest at 14% per annum, due January 15, 2015 $ 212,522 $ 200,000 Merger advance 20,000 20,000 Installment sales contract on equipment, interest at 5.75%, payable in 48 monthly installments of $13,874, including interest through July 2016. 398,793 398,793 Unsecured bridge loan note payable, interest at 2% monthly, payable August 17, 2014, six months after the first advance on the bridge loan. 1,745,092 1,745,092 Notes payable - current $ 2,376,407 $ 2,363,885

NOTE 8 - FAIR VALUE MEASUREMENT

NOTE 8 - FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 8 - FAIR VALUE MEASUREMENTS	NOTE 8 - FAIR VALUE MEASUREMENTS The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in generally accepted accounting principles (“GAAP”), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Lev e Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. A slight change in unobservable inputs such as volatility can significantly have a significant impact on the fair value measurement of the derivatives liabilities. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and accounts payable approximate their fair values because of the short maturity of these instruments. 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 and June 30, 2016 are as follows: December 31, 2016 Level 1 Level 2 Level 3 Total Assets: None — — — — Liabilities: Derivative instruments — — $ 360,725 $ 360,725 June 30, 2016 Level 1 Level 2 Level 3 Total Assets: None — — — — Liabilities: Derivative instruments — — $ 306,488 $ 306,488

NOTE 9 - CONTINGENCIES AND COMM

NOTE 9 - CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 9 - CONTINGENCIES AND COMMITMENTS	NOTE 9 - CONTINGENCIES AND COMMITMENTS Chapter 11 Bankruptcy On August 26, 2015, the Company filed for Chapter 11 Bankruptcy protection in Delaware in order to secure the existing assets from creditor actions. Case No. 15-11761 (MFW). After the dismissal of the bankruptcy case, the Company will have no assets, but is still liable for all commitments and debts outstanding. SFG Barbados, Lordsburg Mining Company and AZCO will be dormant and all the commitments and debts will stay with the respective companies and all debt is currently in default and due. The court set up a Trust fund that will be funded by the activities of the Summit mine for five (5) years and the trust funds will be distributed by an independent trustee to all credit holders on record. Upon receiving the Certification of Counsel Regarding Satisfaction of Conditions in Debtors’ Motion to dismiss Chapter 11 Cases, on June 15, 2016, the Company received the Court Order Dismissing the Chapter 11 Case under the Bankruptcy Code. In December 2016 the court administered trust paid $472,831 to credit holders of the Company, and is recorded as a gain on trust debt extinguishment and payments were applied as follows: Accounts payable $146,947 Accrued compensation 8,775 Accrued liabilities 1,443 Note holders – accrued interest 315,666 Total $472,831 Office and Real Property Leases On August 01, 2015, the Company moved the office to a single room located in Albuquerque, NM, at the home of the CFO for a monthly rent of $500 until the Company is required to lease increased office space due to additional personnel requirements. Rental expense totaled $3,000 for the six months ended December 31, 2016 and 2015, respectively. Title to Mineral Properties Although the Company has taken steps, consistent with industry standards, to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company’s title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects.

NOTE 10 - STOCKHOLDERS' DEFICIT

NOTE 10 - STOCKHOLDERS' DEFICIT	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 10 - STOCKHOLDERS' DEFICIT	NOTE 10 STOCKHOLDERS' DEFICIT Stock Returned and Cancelled On August 1, 2016, a shareholder returned 6,956,750 common shares to the Company for no value received by the shareholder and the shares were recorded at Par Value of $13,914. On December 14, 2016, employees, a director and a consultant returned 15,956,748 shares to the Company in order to be able to raise more funds to acquire additional assets by the Company for no value received by the shareholders and the shares were recorded at Par Value of $31,914. Issuance of Stock During the six months ended December 31, 2016, the Company issued the following common stock: (i) Issued an aggregate of 8,938,725 shares of restricted common stock for consulting services at a value of $466,172 on the date of issuance; (ii) Sold an aggregate of 18,962,250 shares of restricted common stock to accredited investors for cash proceeds of $224,900; (iii) Issued an aggregate of 18,962,250 shares of restricted common stock for the exercise of warrants to accredited investors for cash proceeds of $224,900; The issuance of the restricted common shares during the six months ended December 31, 2016, were exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof because such issuance did not involve a public offering. Issuance of Warrants and Expiration During the six months ending December 31, 2016, 18,962,250 warrants were issued and 750,000 warrants expired. Stock Options and the Amended and Restated Equity Incentive Plan During six months ending December 31, 2016, no options were granted and 2,900,000 options were cancelled. 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 ending December 31, 2016, are as follows: Stock Options Stock Warrants Weighted Weighted Average Exercise Shares Price Shares Price Outstanding at June 30, 2016 8,375,000 $0.02 10,443,434 $0.35 Granted — — 18,962,250 $0.01 Canceled (2,900,000) $0.02 — — Expired — — (750,000) $0.91 Exercised — — (18,962,250) $0.01 Outstanding at December 31, 2016 5,475,000 $0.02 9,693,434 $0.31 Stock options and warrants outstanding and exercisable at December 31, 2016 are as follows: Outstanding and Exercisable Options Outstanding 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 $0.001 5,000,000 5,000,000 1.79 $ 0.001 $ 0.15 4,320,000 4,320,000 2.12 $ 0.15 $0.07 100,000 100,000 3.01 $ 0.07 $ 0.38 523,434 523,434 0.70 $ 0.38 $0.08 100,000 100,000 2.00 $ 0.08 $ 0.40 4,500,000 4,500,000 0.58 $ 0.40 $0.32 100,000 100,000 0.64 $ 0.32 $ 1.00 350,000 350,000 0.03 $ 100 $0.36 175,000 175,000 0.78 $ 0.36 — — — — — 5,475,000 5,475,000 9,693,434 9,693,434 Outstanding Options 1.77 $ 0.02 Outstanding Warrants 1.25 $ 0.31 Exercisable Options 1.77 $ 0.02 Exercisable Warrants 1.25 $ 0.31 As of December 31, 2016, the aggregate intrinsic value of all stock options and warrants vested and expected to vest was $240,000 and the aggregate intrinsic value of currently exercisable stock options and warrants was $240,000. 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 $0.049 closing stock price of the common stock on December 31, 2016. The total intrinsic value associated with options exercised during the six months ended December 31, 2016, was $0. 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.

NOTE 11 - RELATED PARTY TRANSAC

NOTE 11 - RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 11 - RELATED PARTY TRANSACTIONS	NOTE 11 – RELATED PARTY TRANSACTIONS At December 31, 2016 and at June 30, 2016, the Company owed to related parties an aggregated amount of $269,787, respectively. This amount was paid to our former chief executive officer, Mr. Jordan, for his firms’ legal fees incurred prior to becoming CEO of the Company. Mr. Jordaan resigned as CEO and from the board effective May 6, 2016. On August 1, 2015, the Company leased a home office space from the Company CFO for $500 a month for the corporate administrative office in Albuquerque, NM until such time growth requires a larger corporate administrative office. During the six months ended December 31, 2016, the Company transferred operating funds to the Company’s Chief Executive Officers’ certified public accounting practice operating account for disbursements on behalf of the Company. Subsequently, it was determined these disbursements made during the six month period were misappropriated in the amount of $28,963. NOTE 13, SUBSEQUENT EVENTS, Entry into a Material Definitive Agreement Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

NOTE 12 - LEGAL PROCEEDINGS

NOTE 12 - LEGAL PROCEEDINGS	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 12 - LEGAL PROCEEDINGS	NOTE 12 - LEGAL PROCEEDINGS All legal proceedings were stayed with the filing of Chapter 11 bankruptcy. Boart Long year Company v. Lordsburg Mining Company Boart Longyear Company v. Lordsburg Mining Company Boart Longyear Company v. Lordsburg Mining Company Santa Fe Gold Corporation v. Tyhee Gold Corp Wagner Equipment Co. v. Lordsburg Mining Company The bankruptcy court set up a Trust fund that will be funded by the activities of the Summit mine for five (5) years and the trust funds will be distributed by an independent trustee to all credit holders on record. Currently all debts at the time of the bankruptcy are currently due and in default. None of the claims have been reopened since June 2016. 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. 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 June 30, 2016, we were not a party to any material litigation, claim or suit whose outcome could have a material effect on our financial statements.

NOTE 13 - SUBSEQUENT EVENTS

NOTE 13 - SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
NOTE 13 - SUBSEQUENT EVENTS	NOTE 13 – SUBSEQUENT EVENTS Recent Issuances of Unregistered Securities In the period from January 2017 through March 25, 2019, the Company sold an aggregate of 47,673,441 units. Each unit consisted of one restricted common share and one common stock warrant. The warrants had a term of 5 years and an exercise price ranging from $0.001 to $0.10. All warrants were immediately exercised resulting in the issuance of an additional 47,673,441 restricted common shares. The Company received aggregate proceeds of $6,386,416 from these sales and warrant exercises. During the period January 2017 through April 5, 2019, four current shareholders purchased and aggregate of 5,568,333 restricted common shares for $436,000. During the period December 2018 and February 2019, our chairman purchased 3,750,000 restricted common shares for $300,000. During the period January 2017 and April 5, 2019, the Company issued 4,076,635 restricted shares of common stock for consulting services at an aggregated market value of $421,153 on the date of issuance. In connection with the placements, the Company incurred cash placement fees of $672,842. On May 8, 2018, the Company converted $23,824 of accrued salary for the Company CFO into 476,484 shares of restricted common stock at a market value of $47,648 on the date on conversion and recorded a loss on debt conversion of $23,824. The issuance of the restricted common shares, were exempt from registration requirements of the Security Act of 1933, as amended, pursuant to Section 4(a)2, thereof because such issuance did not involve a public offering. Other Events In October 2014, the Company issued a $500,000 convertible note to an accredited investor, from which we drew down tranches aggregating $175,000. The note holders converted a portion of the advances and default penalties to restricted common stock and at September 30, 2016, the notes and related default penalties had an aggregate outstanding balance of $93,333. In January 2017 the note holder agreed to cash settlement payment of $90,000 to satisfy the outstanding obligation and $3,333 was recorded as gain on extinguishment of debt. In March 2017, we entered into agreements with 13 creditors owed $343,902, which amount was settled for $10,734. Additionally, in March 2017, outstanding notes as follows were settled: (i) the IGS note and interest that aggregated $3,563,662 was settled for $88,282; and (ii) three note holders owed principal and accrued interest aggregating $603,688 and was settled for $13,500. In total $112,516 was disbursed for debt aggregating $4,511,252 and the Company recorded $4,398,736 as gain on debt extinguishment. In April 2017 we paid our former chief executive officer, Mr. Jordan, $269,787 for his firms’ legal fees incurred prior to becoming CEO of the Company. Mr. Jordaan resigned as CEO and from the board effective May 6, 2016. In July 2017 the board changed the price for 5,000,000 options from $.001 to $.002. In July 2017, an investor returned 18,000,000 shares to the Company and were returned to the transfer agent and cancelled. The shares were accounted for as a derivative liability at the fair value of the shares and marked to market at each balance sheet date. The investor was reissued 18,000,000 shares in January 2019. Alhambra Acquisition Pursuant to a stock purchase agreement dated August 2017, the Company will acquire all the capital stock of Bullard’s Peak Corporation (which owns five patented claims and 82 unpatented claims in the Black Hawk district of New Mexico) from Black Hawk Consolidated Mines Company for a purchase price of $3,000,000, and the capital stock of Bullard’s Peak Corporation and the mining claims collateralize the full purchase price payment. The Company granted the seller a 2% net smelter return in perpetuity. The net smelter return is the greater of (i) all monies the Company receives for or from any and all ore removed from the property comprising the mining claims whether for exploration, mining operations or any other reason, and (ii) the fair market value of removed ore from the property comprising the mining claims. Title to the claims will be transferred upon receipt by seller of the full purchase price. In August 2018, the Company was informed that the seller terminated the stock purchase agreement. Pursuant to an amendment to the stock purchase agreement in October 2018, the Company paid the seller $100,000 and the seller rescinded the August 2018 election to terminate the stock purchase agreement and waived all then existing events of default and any additional interest, late fees, and other damage claims due to the Company’s prior breaches of the stock purchase agreement. On October 31, 2018, the Company paid the seller an additional $100,000. The balance of the purchase price of $350,365 (which includes $50,365 of expenses that the Company agreed to reimburse seller) is required to be paid: (i) $100,000 on or before November 30, 2018 and (ii) $250,365 on or before December 31, 2018. If any payment is not timely paid, all rights of the Company under the stock purchase agreement shall become automatically null and void and seller shall retain all monies paid as liquidated damages for the Company’s breach, and seller shall have no further obligations to the Company, including but not limited to, any obligation to transfer the capital stock of Bullard’s Peak Corporation to the Company pursuant to the terms of the stock purchase agreement. We paid $100,000 in November 2018 with respect to the Alhambra Silver Mine acquisition and owed a balance of approximately $250,000 on December 31, 2018, to complete the acquisition. Lack of funding on December 31, 2018 resulted in us entering into a third amendment pursuant to which we paid $65,000 on January 2, 2019, $100,000 on February 28, 2019, and with the final payment of $100,365 due on March 31, 2019. British Columbia Properties On November 30, 2017, the Company entered into substantially identical agreements with Fortune Graphite, Inc. and Worldwide Graphite Producers, Ltd. to acquire a total of four placer claims for aggregate consideration of Can$400,000 and the issuance of 10,000,000 shares of Company common stock. Title to these claims remained in trust with the sellers until payment in full. To date, the Company has paid to the seller’s consideration of Can$260,000. The Company disclosed in a Form 8-K filing on November 20, 2018 that it had been notified that it was in default with respect to these two November 2017 agreements and that the sellers threatened legal action. The Company has engaged British Columbia counsel to review the two November 2017 agreements and has concluded that there were false representations made by the sellers and that certain conditions precedent of sellers were not satisfied. As a result, the Company’s position is that these two November 2017 agreements are not and were never binding and have requested sellers to refund the Can$260,000. The Company so informed sellers on March 4, 2019. The Company continues to evaluate its rights and remedies in connection with this matter. As a result, the Company does not own any rights to the four placer claims located in the Vernon mining district of British Columbia, Canada (which property is more fully set forth in the Form 8-K filing dated November 20, 2018. New Mexico Mine Claims In September 2017, the Company acquired the Malone Mine claims, Playa Hidalgo Placer claims and the Pinos Altos claims for an aggregate of $500. In August of each calendar year, the Company is required to renew these claims at a price of $155 per claim. Purchase agreement for New Mexico Mining Properties The Company has entered into a purchase agreement with a mining operator in January 2019 to purchase two properties in western New Mexico, the Billali Mine and the Jim Crow Imperial Mine. The purchase price for all rights and interests to be conveyed is $2,500,000 for the Billali Mine and $7,500,000 for the Jim Crow Imperial Mine, each documented as separate definitive agreements with aggregate consideration for both definitive agreements payable under the following terms: a. b. st c. d. Title and all rights and interest in the properties will be conveyed under the agreements upon completion of the payments of the purchase prices of the properties. Canarc Agreement A forbearance agreement by and among Santa Fe and Canarc Resource Corp. (“Canarc”) was entered into and effective as of February 12, 2018. Canarc loaned Santa Fe $220,000 in 2014. The funding requirements were not attained and the loan became due on January 15, 2015. The Company agreed with Canarc to make four installment payments as follows: (i) $25,000 on February 14, 2018; (ii) $25,000 on June 30, 2018; (iii) $85,000 on October 1, 2018; and (iv) $85,000 on December 31, 2018. All payments were made on a timely basis. With the final payment completed, Canarc forgave $12,522 of principal and accrued interest on the note payable of $107,974 per the terms of the agreement and the Company recorded a gain on debt extinguishment of $120,496 in the quarter ended December 31, 2018. Miscellaneous In December 2017 the Company signed a financial advisory agreement to assist the Company on moving forward for a monthly fee of $10,000 a month beginning in February 2018 and fees paid to date aggregate $135,000. The agreement also included a five-year warrant for 100,000 shares of common stock at an exercise price of $0.15 per share. In February 2018, the Company filed for a permit to start operations at the Bullard’s Peak property. The permit was awarded on March 7, 2018. In March 2018, the board and the option recipients determined to rescind all options awarded to each of Erich Hofer, Frank Mueller and Tom Laws, on a retroactive basis, and accordingly, all options were removed from the financial reporting. In April 2018, the board appointed Brian Adair Chairman of the Audit Committee. In April 2018, the Company entered into an engagement with a financial advisory group for an initial four-month term and renewable under mutual agreement. The fees were $2,000 monthly and 50,000 shares of restricted common stock to be issued one month after the agreement date. The Company paid an aggregate of $18,229 under the agreement and cancelled the contract and the shares as of this filing have not been issued. During the period October 2018 and February 2019, the CFO of the Company and a third outside party, loaned the Company an aggregate of $284,268, evidenced by demand unsecured notes payable at an annual rate of interest of 6% and have no stated due dates. Change of Auditors On July 13, 2018, the Company elected to change auditors and MaloneBailey, LLP was replaced with TAAD, LLP. Engagement of Mining Consultant The Company has entered into an at-will consulting agreement with Daniel E. Gorski in November 2018 to provide consulting services to the Company with respect to its proposed mining operations, at the rate of $5,000 per month in cash and $5,000 per month in Company common stock. Mr. Gorski is owed an additional $30,000 from work performed for the Company during the period March 2018 through August 2018 prior to his engagement. Items Voted upon at the Company Shareholders Meeting The Company held a shareholder meeting on January 11, 2019, in Albuquerque, New Mexico, and a majority of our shareholders voted to (i) amend our certificate of incorporation to increase the authorized shares of common stock that we have authority to issue from 300,000,000 shares to 550,000,000 shares and (ii) remove Thomas Laws as a director. Resignation of Board members Longtime Board member Erich Hofer resigned effective December 28, 2018 and Tom Laws resigned effective January 9, 2019 (just prior to the shareholder meeting on January 11, 2019 in which the shareholders voted to remove him as a director). Misappropriation of Funds and Entry into a Material Definitive Agreement As disclosed in the Company’s Form 8-K filed on October 1, 2018, a director and former chief executive officer of the Company, Mr. Thomas H. Laws, entered into a secured promissory note and security agreement in the principal amount of $930,000 in favor of the Company on September 19, 2018, bearing interest at the annual rate of 4% and maturing September 30, 2018 (“Secured Promissory Note”). The Company requested the former chief executive to execute the Secured Promissory Note and security agreement as a result of the matters discussed below, prior to the completion of the special committee investigation. The security interests include certain real estate and a Cessna model 182G airplane. The Secured Promissory Note also contains late fee and default provisions under the deeds of trust, Security Agreement and other agreements. The board of directors formed a special committee on September 26, 2018 to investigate and analyze certain financial transactions in the aggregate amount of approximately $1 million that occurred primarily between July 2016 and March 2018 involving Mr. Laws. The special committee investigation determined that Mr. Laws owes the Company $1,335,046, excluding penalty and accrued interest, of which $379,660 has been received by the Company. The Company will restate the previously issued consolidated financial statements for, and financial information relating to, the fiscal year ended June 30, 2017, the most recent financial statements of the Company filed with the Securities and Exchange Commission. Subsequent review of these transactions for the fiscal year ended June 30, 2017, resulted in a restatement of assets and operating costs in the amount of $937,420 and charged to the former chief executive officer. Mr. Laws was terminated as the at-will chief executive officer of the Company on September 24, 2018. Currently no interim chief executive officer has been named to replace Mr. Laws. In November 2018, Santa Fe filed a complaint in Luna County District Court, State of New Mexico, requesting a $930,000 money judgment against Mr. and Mrs. Laws, in addition to foreclosing on the mortgage Mr. and Ms. Laws granted to Santa Fe on real property to secure the promissory note located in Luna County, New Mexico. In November 2018, Santa Fe filed a similar complaint in Grant County District Court, State of New Mexico, as Mr. and Mrs. Laws and XYZ Ranch Estates, LLC granted Santa Fe a deed of trust and a mortgage, respectively, on several pieces of real property in Grant County, New Mexico. Mr. Laws also granted Santa Fe a security agreement on an airplane located in Grant County, New Mexico. The complaint in Grant County requested a money judgment in the amount of $930,000 against Mr. and Mrs. Laws, in addition to a request to foreclose on the assets pledged to us located in Grant County, New Mexico.

NOTE 2 - SUMMARY OF SIGNIFICA_2

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2016
Policy Text Block [Abstract]
Principles of Consolidation	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 and Santa Fe Acquisitions Company, a New Mexico Limited Liability Company. All significant inter-company accounts and transactions have been eliminated in consolidation
Estimates	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, and stock-based compensation which are discussed in the respective notes to the consolidated financial statements.
Fair Value Measurements	Fair Value Measurements The carrying values of cash and cash equivalents, accounts payable and accrued liabilities approximated their related fair values as of December 31, 2016, and June 30, 2016, 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	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.
Derivative Financial Instruments	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. 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 as a one day derivative loss, 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, using the effective interest method. When required to arrive at the fair value of derivatives associated with the convertible note and warrants, a Monte Carlo model is utilized that values the Convertible Note and Warrant based on average discounted cash flow factoring in the various potential outcomes by a Chartered Financial Analyst (‘CFA”). In determining the fair value of the derivatives the CFA assumed that the Company’s business would be conducted as a going concern. 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.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic earnings income (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 are 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 months ended December 31, 2015 and six months ended December 31, 2016 and 2015, the impact of outstanding stock equivalents has not been included as they would be anti-dilutive. For the three months ended December 31, 2016, diluted earnings per share is disclosed below: A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computation is as follows: Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount For the three months ended December 31, 2016 Basic EPS Income available to common stockholders $ 829,609 257,823,491 $ 0.00 Diluted EPS Dilutive effect of convertible notes (284,990 ) 61,182,491 Income available to common stockholders plus assumed conversions $ 544,619 319,005,982 $ 0.00 Dilutive potential common shares consist of convertible notes. The number of stock options excluded from the calculation of diluted earnings per share for the three months ended December 31, 2016 was 475,000 and excluded warrants was 9,693,464, because their inclusion would have been anti-dilutive.
Stock-Based Compensation	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. Awards are made at the discretion of the Board of Directors. Such options may be exercisable at varying exercise prices and generally vest over a period of six months to a year. The Company accounts for share based compensation 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 compensation cost is recognized over the expected vesting period. Share based payments to nonemployees are valued at the earlier or a commitment date or completion of services.
Accounting Standards to be Adopted in Future Periods	Accounting Standards to be adopted in Future Periods In May 2014, the FASB issued ASC updated No. 2014-09, Revenue from Contracts with Customers (Topic 606 (ASU 2014-09) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40) Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2016, the FASB has issued ASU No. 2016-18 , Statement of Cash Flows (Topic 230) In May 2017, FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, which amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which would be the Company's fiscal year ending March 31, 2019. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. While the Company does not expect the adoption of ASU 2017-09 to have a material effect on its business, the Company is still evaluating any potential impact that adoption of ASU 2017-09 may have on its financial position, results of operations or cash flows. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows.

NOTE 1 - BASIS OF PRESENTATIO_2

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN (Tables)	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Schedule Of Restatement Effect on Financial Statements	As Previously Reported Adjustment As Restated Consolidated Balance Sheet at September 30, 2016: Mine Equipment, net of depreciation of $962 A $ 10,578 (10,578 ) — Total Assets $ 21,490 $ (10,578 ) $ 10,912 Accounts payable D $ 3,596,435 $ 21,454 $ 3,617,889 Accrued liabilities D $ 6,269,206 $ 38,073 $ 6,307.279 Notes Payable, current D $ 2,363,885 $ 12,522 $ 2,376,407 Total Current Liabilities $ 19,255,937 $ 72,049 $ 19,327,986 Common stock $ 491,951 $ (454 ) $ 491,497 Additional paid in capital $ 80,899,159 $ 2,039 $ 80,901,198 Accumulated deficit B, C, D $ (100,625,557 ) $ (84,212 ) $ (100,709,769 ) Stockholders’ Deficit $ (19,234,447 ) $ (82,627 ) $ (19,317,074 ) Total Liabilities and Stockholders’ Equity $ 21,490 $ (10,578 ) $ 10,912 Consolidated Statements of Operations for three months ended December 31, 2016: General and administrative B $ 467,746 $ 23,039 $ 490,785 Depreciation and amortization A $ 577 $ (577 ) $ — Total Operating Costs and Expenses $ 508,297 $ 22,462 $ 530,759 Loss from operations $ (508,297 $ (22,462 ) $ (530,759 ) Interest expense D $ (254,588 ) $ (50,595 ) $ (305,183 ) Total Other Income (Expense) $ 1,410,963 $ (50,595 ) $ 1,360,368 Net Income $ 902,666 $ (73,057 ) $ 829,609 Consolidated Statements of Operations for six months ended December 31, 2016: Exploration and other mine related costs E $ 57,397 $ (17,423 ) $ 39,974 General and administrative B $ 801,539 $ 23,039 $ 824,578 Depreciation and amortization A $ 962 $ (962 ) $ — Total Operating Expenses $ 859,898 $ 4,654 $ 864,552 Loss from Operations $ (859,898 ) $ (4,656 ) $ (864,552 ) Misappropriated funds C $ — $ (28,963 ) $ (28,963 ) Interest expense D $ (551,097 ) $ (50,595 ) $ (601,692 ) Total Other Income (Expense) $ 632,190 $ (79,558 ) $ 552,632 Net Loss $ (227,708 ) $ (84,212 ) $ (331,920 ) Consolidated Statement of Cash Flows for six months Net loss $ (227,708 ) $ (84,212 ) $ (311,920 ) Depreciation and amortization A $ 962 $ (962 ) $ — Stock issued for services $ 464,587 $ 1,585 $ 466,172 Accounts payable and accrued liabilities D $ 498,513 $ 72,049 $ 570,562 Net Cash Used in Operating Activities $ (334,037 ) $ (11,540 ) $ (345,577 ) Purchase of equipment A $ (11,540 ) $ 11,540 $ — Net Cash Used in Investing Activities $ (11,540 ) $ 11,540 $ —

NOTE 2 - SUMMARY OF SIGNIFICA_3

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Schedule of basic and diluted earnings per share	A reconciliation of the weighted average shares outstanding used in the basic and diluted earnings per share (“EPS”) computation is as follows: Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Share Amount For the three months ended December 31, 2016 Basic EPS Income available to common stockholders $ 829,609 257,823,491 $ 0.00 Diluted EPS Dilutive effect of convertible notes (284,990 ) 61,182,491 Income available to common stockholders plus assumed conversions $ 544,619 319,005,982 $ 0.00

NOTE 3 - ACCRUED LIABILITIES (T

NOTE 3 - ACCRUED LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Accrued Liabilities	Accrued liabilities consist of the following at December 31, 2016 and June 30, 2016: December 31, June 30, 2016 2016 Interest $ 2,730,965 $ 2,589,993 Vacation 15,771 15,771 Deferred and accrued payroll burden 223,569 239,262 Franchise taxes 8,695 8,695 Merger costs, net 269,986 269,986 Other 18,135 19,578 Audit 20,000 20,000 Commodity supply agreement 2,766,635 3,415,175 Property taxes 253,523 215,524 $ 6,307,279 $ 6,793,984

NOTE 4 - DERIVATIVE INSTRUMEN_2

NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Derivative Liabilities	The table below shows the loss on the derivative instruments liability for the six months ended December 31, 2016. Derivative Derivative Valuation Change Liability as of Liability as of for the six months ended June 30, 2016 December 31, 2016 December 31, 2016 Purchase Agreement Warrants and Convertible Debt $ 306,488 $ 360,725 $ (54,237) Loss on Derivatives $ (54,237)

NOTE 6 - CONVERTIBLE NOTES PA_2

NOTE 6 - CONVERTIBLE NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Convertible Notes Payable	The components of the unsecured convertible notes payable are as follows: December 31, 2016: Amount Unamortized Discount Net Current portion $ 3,351,512 $ (45,699 ) $ 3,305,813 June 30, 2016: Principal Amount Unamortized Discount Net Current portion $ 3,554,249 $ (161,814 ) $ 3,392,435

NOTE 7 - NOTES PAYABLE (Tables)

NOTE 7 - NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Debt	The following summarizes notes payable: December 31, June 30, 2016 2016 Working capital advances, interest at 14% per annum, due January 15, 2015 $ 212,522 $ 200,000 Merger advance 20,000 20,000 Installment sales contract on equipment, interest at 5.75%, payable in 48 monthly installments of $13,874, including interest through July 2016. 398,793 398,793 Unsecured bridge loan note payable, interest at 2% monthly, payable August 17, 2014, six months after the first advance on the bridge loan. 1,745,092 1,745,092 Notes payable - current $ 2,376,407 $ 2,363,885

NOTE 8 - FAIR VALUE MEASUREME_2

NOTE 8 - FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Fair Value Assets And Liabilities	The fair value measurement of financial instruments and other assets as of December 31 and June 30, 2016 are as follows: December 31, 2016 Level 1 Level 2 Level 3 Total Assets: None — — — — Liabilities: Derivative instruments — — $ 360,725 $ 360,725 June 30, 2016 Level 1 Level 2 Level 3 Total Assets: None — — — — Liabilities: Derivative instruments — — $ 306,488 $ 306,488

NOTE 10 - STOCKHOLDERS' DEFIC_2

NOTE 10 - STOCKHOLDERS' DEFICIT (Tables)	6 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule Of Stock Options	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 ending December 31, 2016, are as follows: Stock Options Stock Warrants Weighted Weighted Average Exercise Shares Price Shares Price Outstanding at June 30, 2016 8,375,000 $0.02 10,443,434 $0.35 Granted — — 18,962,250 $0.01 Canceled (2,900,000) $0.02 — — Expired — — (750,000) $0.91 Exercised — — (18,962,250) $0.01 Outstanding at December 31, 2016 5,475,000 $0.02 9,693,434 $0.31 Stock options and warrants outstanding and exercisable at December 31, 2016 are as follows: Outstanding and Exercisable Options Outstanding 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 $0.001 5,000,000 5,000,000 1.79 $ 0.001 $ 0.15 4,320,000 4,320,000 2.12 $ 0.15 $0.07 100,000 100,000 3.01 $ 0.07 $ 0.38 523,434 523,434 0.70 $ 0.38 $0.08 100,000 100,000 2.00 $ 0.08 $ 0.40 4,500,000 4,500,000 0.58 $ 0.40 $0.32 100,000 100,000 0.64 $ 0.32 $ 1.00 350,000 350,000 0.03 $ 100 $0.36 175,000 175,000 0.78 $ 0.36 — — — — — 5,475,000 5,475,000 9,693,434 9,693,434 Outstanding Options 1.77 $ 0.02 Outstanding Warrants 1.25 $ 0.31 Exercisable Options 1.77 $ 0.02 Exercisable Warrants 1.25 $ 0.31

NOTE 1 - BASIS OF PRESENTATIO_3

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN (Details) - USD ($)	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Disclosure Text Block [Abstract]
Net loss	$ (311,920)
Accumulated deficit	(100,709,769)	$ (100,397,849)
Working capital deficit	$ (19,317,074)

NOTE 1 - BASIS OF PRESENTATIO_4

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN: Restatement Effect on Financial Statements: Balance Sheet (Details) - USD ($)	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016
Total Assets	$ 10,912		$ 7,290
Accounts payable	3,617,889		3,710,931
Accrued liabilities	6,307,279		6,793,984
Notes payable, current	2,376,407		2,363,885
Total Current Liabilities	19,327,986		19,927,596
Common stock	491,497		443,599
Additional paid in capital	80,901,198		80,033,944
Accumulated deficit	(100,709,769)		(100,397,849)
Total Stockholders' Deficit	(19,317,074)		(19,920,306)
Total Liabilities and Stockholders' Deficit	$ 10,912		$ 7,290
Previously Reported [Member]
Mine Equipment, net of depreciation of $962		$ 10,578
Total Assets		21,490
Accounts payable		3,596,435
Accrued liabilities		6,269,206
Notes payable, current		2,363,885
Total Current Liabilities		19,255,937
Common stock		491,951
Additional paid in capital		80,899,159
Accumulated deficit		(100,625,557)
Total Stockholders' Deficit		(19,234,447)
Total Liabilities and Stockholders' Deficit		21,490
Restatement Adjustment [Member]
Mine Equipment, net of depreciation of $962		(10,578)
Total Assets		(10,578)
Accounts payable		21,454
Accrued liabilities		38,073
Notes payable, current		12,522
Total Current Liabilities		72,049
Common stock		(454)
Additional paid in capital		2,039
Accumulated deficit		(84,212)
Total Stockholders' Deficit		(82,627)
Total Liabilities and Stockholders' Deficit		(10,578)
As Restated
Mine Equipment, net of depreciation of $962		0
Total Assets		10,912
Accounts payable		3,617,889
Accrued liabilities		630,728
Notes payable, current		2,376,407
Total Current Liabilities		19,327,986
Common stock		491,497
Additional paid in capital		80,901,198
Accumulated deficit		(100,709,769)
Total Stockholders' Deficit		(19,317,074)
Total Liabilities and Stockholders' Deficit		$ 10,912

NOTE 1 - BASIS OF PRESENTATIO_5

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN: Restatement Effect on Financial Statements: Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Exploration and other mine related costs	$ 39,974	$ 188,293	$ 39,974	$ 302,751
General and administrative	490,785	241,768	824,578	551,402
Depreciation and amortization	0	431,408	0	875,279
Total Operating Expenses	530,759	1,399,859	864,552	2,485,025
Loss from Operations	(530,759)	(1,395,624)	(864,552)	(2,478,775)
Misappropriated funds	0	0	(28,963)	0
Interest expense	(305,183)	(751,758)	(601,692)	(1,564,579)
Total Other Income (Expense)	1,360,368	(664,096)	552,632	117,986
NET LOSS	829,609	$ (2,059,720)	(311,920)	$ (2,360,789)
Previously Reported [Member]
Exploration and other mine related costs			57,397
General and administrative	467,746		801,539
Depreciation and amortization	577		962
Total Operating Expenses	508,297		859,898
Loss from Operations	(508,297)		(859,898)
Misappropriated funds			0
Interest expense	(254,588)		(551,097)
Total Other Income (Expense)	1,410,963		632,190
NET LOSS	902,666		(227,708)
Restatement Adjustment [Member]
Exploration and other mine related costs			(17,423)
General and administrative	23,039		23,039
Depreciation and amortization	(577)		(962)
Total Operating Expenses	22,462		4,654
Loss from Operations	(22,462)		(4,656)
Misappropriated funds			(28,963)
Interest expense	(50,595)		(50,595)
Total Other Income (Expense)	(50,595)		(79,558)
NET LOSS	(73,057)		(84,212)
As Restated
Exploration and other mine related costs			39,974
General and administrative	490,785		824,578
Depreciation and amortization	0		0
Total Operating Expenses	530,759		864,552
Loss from Operations	(530,759)		(864,552)
Misappropriated funds			(28,963)
Interest expense	(305,183)		(601,692)
Total Other Income (Expense)	1,360,368		552,632
NET LOSS	$ 829,609		$ (311,920)

NOTE 1 - BASIS OF PRESENTATIO_6

NOTE 1 - BASIS OF PRESENTATION AND GOING CONCERN: Restatement Effect on Financial Statements: Cash Flows (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net loss	$ 829,609	$ (2,059,720)	$ (311,920)	$ (2,360,789)
Depreciation and amortization	0	$ 431,408	0	875,279
Accounts payable and accrued liabilities			570,562	1,600,077
Net Cash Used in Operating Activities			(345,577)	$ (1,339,486)
Previously Reported [Member]
Net loss	902,666		(227,708)
Depreciation and amortization	577		962
Stock issued for services			464,587
Accounts payable and accrued liabilities			498,513
Net Cash Used in Operating Activities			(334,037)
Purchase of equipment			(11,540)
Cash Used Investing Activities			(11,540)
Restatement Adjustment [Member]
Net loss	(73,057)		(84,212)
Depreciation and amortization	(577)		(962)
Stock issued for services			1,585
Accounts payable and accrued liabilities			72,049
Net Cash Used in Operating Activities			(11,540)
Purchase of equipment			11,540
Cash Used Investing Activities			11,540
As Restated
Net loss	829,609		(311,920)
Depreciation and amortization	$ 0		0
Stock issued for services			466,172
Accounts payable and accrued liabilities			570,562
Net Cash Used in Operating Activities			(345,577)
Purchase of equipment			0
Cash Used Investing Activities			$ 0

NOTE 2 - SUMMARY OF SIGNIFICA_4

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Net Income (Loss) Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net loss	$ 829,609	$ (2,059,720)	$ (311,920)	$ (2,360,789)
Basic	257,823,491	189,842,914	255,375,491	173,456,332
Net income (loss) - basic	$ 0	$ (0.01)	$ 0	$ (0.01)
Dilutive Securities, Effect on Basic Earnings Per Share	$ (284,990)
Weighted Average Number Diluted Shares Outstanding Adjustment	61,182,491
Net Income (Loss) Attributable to Parent, Diluted	$ 544,619
Weighted Average Number of Shares Outstanding, Diluted	319,005,982
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities	$ 0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,693,464
Convertible Note
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	475,000

NOTE 3 - ACCRUED LIABILITIES_ S

NOTE 3 - ACCRUED LIABILITIES: Schedule Of Accrued Liabilities (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Text Block [Abstract]
Interest	$ 2,730,965	$ 2,589,993
Vacation	15,771	15,771
Deferred and accrued payroll burden	223,569	239,262
Franchise taxes	8,695	8,695
Merger costs, net	269,986	269,986
Other	18,135	19,578
Audit	20,000	20,000
Commodity supply agreement	2,766,635	3,415,175
Property taxes	253,523	215,524
Accrued liabilities	$ 6,307,279	$ 6,793,984

NOTE 4 - DERIVATIVE INSTRUMEN_3

NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016	Jan. 15, 2013	Oct. 30, 2007
Derivative instrument liabilities	$ 360,725		$ 360,725		$ 306,488
(Gain) loss on derivative instrument liabilities	$ (326,994)	$ (3,196)	$ 54,237	$ (1,161,769)
Convertible secured note 1
Debt Instrument, Convertible, Conversion Price	$ 0.05		$ 0.05
Convertible unsecured note 3
Debt Instrument, Convertible, Conversion Price	$ 0.01625		$ 0.01625
Notes in compromise
Derivative instrument liabilities	$ 360,725		$ 360,725
Convertible unsecured note 5
Debt Instrument, Convertible, Conversion Price					$ 0.0003
Senior Subordinated convertible note 1
Share Price							$ 1.50
Debt Instrument, Convertible, Conversion Price						$ 0.40
Exercisable Warrants
Share Price	$ 0.049		$ 0.049
Warrants
Fair Value, Option, Methodology and Assumptions			Black-Scholes option pricing model
Fair Value Assumptions, Expected Dividend Rate			0.00%
Warrants | Maximum
Fair Value Assumptions, Risk Free Interest Rate			1.27%
Fair Value Assumptions, Expected Term			2 years 3 months 4 days
Fair Value Assumptions, Expected Volatility Rate			463.00%
Warrants | Minimum
Fair Value Assumptions, Risk Free Interest Rate			0.16%
Fair Value Assumptions, Expected Term			11 days
Fair Value Assumptions, Expected Volatility Rate			104.00%
Convertible Note
Fair Value, Option, Methodology and Assumptions			Monte Carlo model
Convertible Note | Maximum
Fair Value Assumptions, Expected Volatility Rate			99.00%
Share Price	0.1760		$ 0.1760
Debt Instrument, Convertible, Conversion Price	0.125		$ 0.125
Convertible Note | Minimum
Fair Value Assumptions, Expected Volatility Rate			93.00%
Share Price	0.0009		$ 0.0009
Debt Instrument, Convertible, Conversion Price	$ 0.0425		$ 0.0425

NOTE 4 - DERIVATIVE INSTRUMEN_4

NOTE 4 - DERIVATIVE INSTRUMENT LIABILITIES: Schedule Of Derivative Liabilities (Details) - USD ($)	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Derivative instrument liabilities	$ 360,725	$ 306,488
Increase (Decrease) in Derivative Assets and Liabilities	(54,237)
Gain (Loss) on Derivative Instruments, Net, Pretax	(54,237)
Notes in compromise
Derivative instrument liabilities	$ 360,725

NOTE 5 - COMPLETION GUARANTEE_2

NOTE 5 - COMPLETION GUARANTEE PAYABLE (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2012
Completion guarantee payable {1}
Accrued Liabilities and Other Liabilities	$ 3,359,873	$ 3,359,873	$ 504,049

NOTE 6 - CONVERTIBLE NOTES PA_3

NOTE 6 - CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	Oct. 22, 2014	Jan. 15, 2013	Mar. 31, 2017	Jan. 20, 2015	Oct. 30, 2007	Nov. 30, 2012	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 24, 2015	Jun. 09, 2015	Feb. 25, 2015	Oct. 31, 2012
Class of Warrant or Right, Outstanding							9,693,434		9,693,434		10,443,434	20,896,054
Interest Payable, Current											$ 47,402
Extinguishment of Debt, Amount									$ 80,000
Gain (loss) on derivative instrument liabilities							$ 326,994	$ 3,196	(54,237)	$ 1,161,769
Amortization of discount on notes payable									116,115	176,101
Gain on extinguishment of debt							$ 0	$ 0	14,599	0
Resolution of derivative liability upon conversion									$ 0	$ 90,081
Convertible Note | Maximum
Share Price							$ 0.1760		$ 0.1760
Debt Instrument, Convertible, Conversion Price							0.125		0.125
Convertible Note | Minimum
Share Price							0.0009		0.0009
Debt Instrument, Convertible, Conversion Price							$ 0.0425		$ 0.0425
Senior Subordinated convertible note 1
Debt Instrument, Face Amount					$ 450,000		$ 450,000		$ 450,000		450,000
Debt Instrument, Interest Rate, Stated Percentage					10.00%
Debt Instrument, Term									60 months
Dollar amount of stock subscribed for equivalent to one warrant					$ 2.50
Class of Warrant or Right, Outstanding		562,500			180,000
Exercise Price of Warrants					$ 1.25
Convertible Preferred Stock, Terms of Conversion					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 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.
Share Price					$ 1.50
Debt Instrument, Convertible, Conversion Price		$ 0.40
Debt Instrument, automatic conversion price		$ 0.80
Interest Payable, Current							$ 145,438		$ 145,438		144,500
Repayments of Debt			$ 13,500						$ 23,000
Convertible unsecured note 4
Debt Instrument, Face Amount				$ 250,000
Debt Instrument, Interest Rate, Stated Percentage				12.00%
Proceeds from notes payable				$ 50,000
Debt Instrument, Unamortized Discount				$ 5,556
Convertible unsecured note 1
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Proceeds from notes payable	$ 75,000
Debt Instrument, Unamortized Discount	$ 8,333
Stock Issued During Period, Value, Conversion of Convertible Securities												$ 68,900
Stock Issued During Period, Shares, Conversion of Convertible Securities												1,800,000
Amortization of discount on notes payable												$ 20,185
Convertible unsecured note 1 | Common Stock
Stock Issued During Period, Value, Conversion of Convertible Securities											$ 62,223
Stock Issued During Period, Shares, Conversion of Convertible Securities											27,522,855
Amortization of discount on notes payable											$ 60,973
Convertible secured note 1
Debt Instrument, Convertible, Conversion Price							$ 0.05		$ 0.05
Long-term Debt, Gross							$ 2,818,179		$ 2,818,179		2,903,316
Interest Payable, Current							540,789		540,789		642,624
Proceeds from notes payable						$ 3,985,000
Extinguishment of Debt, Amount											88,283
Debt Instrument, Unamortized Discount							$ 13,545		13,545
Amortization of discount on notes payable									$ 36,295		48,251
Initial carrying value of embedded conversion option											98,091
Repayments of Debt											174,507
Resolution of derivative liability upon conversion											90,081
Convertible secured note 1 | Australia dollars
Debt Instrument, Face Amount																$ 3,900,000
Debt Instrument, Interest Rate, Stated Percentage																6.00%
Convertible unsecured note 3
Debt Instrument, Face Amount													$ 50,000
Debt Instrument, Convertible, Conversion Price							$ 0.01625		$ 0.01625
Long-term Debt, Gross							$ 83,333		$ 83,333		93,333
Debt Instrument, Unamortized Discount							32,154		32,154		56,088		5,556
Amortization of discount on notes payable									23,934		$ 5,541
Debt Instrument, Debt Default, Amount													$ 31,111
Interest Expense, Debt									$ 6,666
Debt Instrument, Convertible, Terms of Conversion Feature									The conversion price with this investor is the lesser of $0.0425 or 65% of the lowest trade price in the 25 trading days previous to the conversion date.
Convertible unsecured note 5
Debt Instrument, Face Amount														$ 50,000
Debt Instrument, Convertible, Conversion Price											$ 0.0003
Long-term Debt, Gross							0		$ 0
Extinguishment of Debt, Amount									93,000
Debt Instrument, Unamortized Discount							$ 0		0					$ 5,556
Stock Issued During Period, Value, Conversion of Convertible Securities											$ 60,192
Stock Issued During Period, Shares, Conversion of Convertible Securities											18,007,333
Amortization of discount on notes payable									55,886		$ 66,388
Debt Instrument, Convertible, Terms of Conversion Feature											The conversion price with this investor on the two notes is the lesser of $0.125 or 60% of the lowest trade price in the 25 trading days previous to the conversion date.
Debt Instrument, Increase, Accrued Interest											$ 43,347
Gain on extinguishment of debt									$ 14,599
Convertible unsecured note 2
Debt Instrument, Face Amount															$ 50,000
Debt Instrument, Unamortized Discount															$ 5,556
Stock Issued During Period, Value, Conversion of Convertible Securities											$ 24,433
Stock Issued During Period, Shares, Conversion of Convertible Securities											916,078
Amortization of discount on notes payable											$ 20,185

NOTE 6 - CONVERTIBLE NOTES PA_4

NOTE 6 - CONVERTIBLE NOTES PAYABLE: Schedule Of Convertible Notes Payable (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Senior subordinated convertible notes payable	$ 3,305,813	$ 3,392,435
Principal
Current portion		3,554,249
Long-term portion, net of current		0
Senior subordinated convertible notes payable		3,554,249
Unamortized Discount
Current portion		(161,814)
Long-term portion, net of current		0
Senior subordinated convertible notes payable		(161,814)
Principal
Current portion	3,351,512
Long-term portion, net of current	0
Senior subordinated convertible notes payable	3,351,512
Unamortized Discount
Current portion	(45,699)
Long-term portion, net of current	0
Senior subordinated convertible notes payable	(45,699)
Convertible Debt Securities
Current portion	3,305,813	3,392,435
Long-term portion, net of current	0	0
Senior subordinated convertible notes payable	$ 3,305,813	$ 3,392,435

NOTE 7 - NOTES PAYABLE (Details

NOTE 7 - NOTES PAYABLE (Details) - USD ($)	Jul. 15, 2014	Jun. 01, 2012	Jun. 30, 2016	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2016
Interest Payable, Current			$ 47,402
Notes payable, current portion			2,363,885		$ 2,376,407	$ 2,376,407
Merger costs, net			269,986		269,986	269,986
Canarc
Debt Instrument, Face Amount	$ 200,000		200,000		$ 212,522	212,522
Proceeds from Other Short-term Debt	$ 20,000		20,000			$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	1.00%				1.00%	1.00%
Interest Payable, Current			47,402		$ 48,468	$ 48,468
Repayments of Debt					9,897
Tyhee
Debt Instrument, Face Amount			1,745,092	$ 1,745,092	$ 1,745,092	$ 1,745,092
Debt Instrument, Interest Rate, Stated Percentage				24.00%	2.00%	2.00%
Interest Payable, Current			990,657		$ 1,110,001	$ 1,110,001
Repayments of Debt					$ 91,788
Merger costs, net				$ 269,986
break fee				$ 300,000
Equipment
Debt Instrument, Interest Rate, Stated Percentage		5.75%			5.75%	5.75%
Interest Payable, Current			59,238		$ 53,291	$ 53,291
Repayments of Debt					17,412
Liabilities Subject to Compromise		$ 593,657
Debt Instrument, Term		48 months				48 months
Notes payable, current portion			$ 398,793		$ 398,793	$ 398,793

NOTE 7 - NOTES PAYABLE_ Schedul

NOTE 7 - NOTES PAYABLE: Schedule Of Debt (Details) - USD ($)	Jul. 15, 2014	Jun. 01, 2012	Jun. 30, 2016	Dec. 31, 2016	Jun. 30, 2014
Notes payable, current portion			$ 2,363,885	$ 2,376,407
Canarc
Debt Instrument, Interest Rate, Stated Percentage	1.00%			1.00%
Debt Instrument, Face Amount	$ 200,000		200,000	$ 212,522
Proceeds from Other Short-term Debt	$ 20,000		20,000	$ 20,000
Tyhee
Debt Instrument, Interest Rate, Stated Percentage				2.00%	24.00%
Debt Instrument, Face Amount			1,745,092	$ 1,745,092	$ 1,745,092
Debt Instrument, Maturity Date				Aug. 17, 2014
Equipment
Debt Instrument, Interest Rate, Stated Percentage		5.75%		5.75%
Debt Instrument, Term		48 months		48 months
Debt Instrument, Periodic Payment				$ 13,874
Notes payable, current portion			$ 398,793	$ 398,793

NOTE 8 - FAIR VALUE MEASUREME_3

NOTE 8 - FAIR VALUE MEASUREMENTS: Schedule Of Fair Value Assets And Liabilities (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016
Fair value, assets	$ 0	$ 0
Derivative instruments liabilities
Fair value, liabilities	687,719	306,488
Level 1
Fair value, assets	0	0
Fair value, liabilities	0	0
Level 2
Fair value, assets	0	0
Fair value, liabilities	0	0
Level 3
Fair value, assets	0	0
Fair value, liabilities	$ 687,719	$ 306,488

NOTE 9 - CONTINGENCIES AND CO_2

NOTE 9 - CONTINGENCIES AND COMMITMENTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Gain on trust debt extinguishment	$ 472,831	$ 0	$ 472,831	$ 0
Operating Leases, Rent Expense			3,000
Accrued liabilities {1}
Gain on trust debt extinguishment	1,443
Accrued compensation
Gain on trust debt extinguishment	8,775
accrued interest
Gain on trust debt extinguishment	315,666
Accounts payable {1}
Gain on trust debt extinguishment	$ 146,947
Office Lease
Debt Instrument, Periodic Payment			$ 500

NOTE 10 - STOCKHOLDERS' DEFIC_3

NOTE 10 - STOCKHOLDERS' DEFICIT (Details) - USD ($)	Dec. 14, 2016	Aug. 01, 2016	Dec. 31, 2016
Options expired			0
Intrinsic value of options and warrants			$ 240,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value			240,000
Intrinsic value of options and warrants exercised			$ 0
Exercisable Warrants
Share Price			$ 0.049
Common Stock
Options expired			2,900,000
Warrant
Warrants issued			18,962,250
Warrants expired			750,000
Consultant
Stock Issued During Period, Shares, Issued for Services			8,938,725
Stock Issued During Period, Value, Issued for Services			$ 466,172
Consultant | Officer
Stock returned	15,956,748
Stock returned	$ 31,914
Investor 2
Stock returned		6,956,750
Stock returned		$ 13,914
Note holder 1
Debt Conversion, Original Debt, Amount			$ 224,900
Note holder 1 | Common Stock
Debt Conversion, Converted Instrument, Shares Issued			18,962,250
Note holder 2
Debt Conversion, Original Debt, Amount			$ 224,900
Note holder 2 | Common Stock
Debt Conversion, Converted Instrument, Shares Issued			18,962,250

NOTE 10 - STOCKHOLDERS' DEFIC_4

NOTE 10 - STOCKHOLDERS' DEFICIT: Schedule Of Stock Options (Details) - $ / shares	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Outstanding	5,475,000	8,375,000
Outstanding, weighted average exercise price	$ 0.02	$ 0.02
Warrants, outstanding, beginning balance	10,443,434
Warrant, outstanding, weighted average exercise price, beginning balance	$ 0.35
Options granted	0
Stock options weighted average price granted	$ 0
Warrants, granted	18,962,250
Warrants granted, weighted average price granted	$ 0.01
Options cancelled	(2,900,000)
Options cancelled weighted average price	$ 0.02
Warrants, canceled	0
Warrants canceled, weighted average price	$ 0
Options expired	0
Warrants expired weighted average price	$ 0
Warrants, expired	(750,000)
Warrants expired, weighted average price	$ 0.91
Options exercised	0
Options exercised weighted average price	$ 0
Warrants, exercised	(18,962,250)
Warrants, exercised, weighted average price	$ 0.01
Warrants, outstanding, ending balance	9,693,434
Warrant, outstanding, weighted average exercise price, ending balance	$ 0.31
Employee Stock Option
Outstanding	5,475,000
Outstanding, weighted average exercise price	$ 0.02
Exercisable	5,475,000
Outstanding, weighted average contractual remaining life (in Years)	1 year 9 months 7 days
Exercisable, weighted average contractual remaining life (in Years)	1 year 9 months 7 days
Exercisable, weighted average exercise price	$ 0.02
Warrant
Outstanding	9,693,434
Outstanding, weighted average exercise price	$ 0.31
Exercisable	9,693,434
Outstanding, weighted average contractual remaining life (in Years)	1 year 3 months
Exercisable, weighted average contractual remaining life (in Years)	1 year 3 months
Exercisable, weighted average exercise price	$ 0.31
Common Stock
Options expired	2,900,000
$0.38 | Warrant
Outstanding	523,434
Outstanding, weighted average exercise price	$ 0.38
Exercisable	523,434
Outstanding, weighted average contractual remaining life (in Years)	8 months 12 days
$0.001 | Employee Stock Option
Outstanding	5,000,000
Outstanding, weighted average exercise price	$ 0.001
Exercisable	5,000,000
Outstanding, weighted average contractual remaining life (in Years)	1 year 9 months 14 days
$0.15 | Warrant
Outstanding	4,320,000
Outstanding, weighted average exercise price	$ 0.15
Exercisable	4,320,000
Outstanding, weighted average contractual remaining life (in Years)	2 years 1 month 13 days
$0.07 | Employee Stock Option
Outstanding	100,000
Outstanding, weighted average exercise price	$ 0.07
Exercisable	100,000
Outstanding, weighted average contractual remaining life (in Years)	3 years 4 days
$0.08 | Employee Stock Option
Outstanding	100,000
Outstanding, weighted average exercise price	$ 0.08
Exercisable	100,000
Outstanding, weighted average contractual remaining life (in Years)	2 years
$0.40 | Warrant
Outstanding	4,500,000
Outstanding, weighted average exercise price	$ 0.40
Exercisable	4,500,000
Outstanding, weighted average contractual remaining life (in Years)	6 months 29 days
$0.32 | Employee Stock Option
Outstanding	100,000
Outstanding, weighted average exercise price	$ 0.32
Exercisable	100,000
Outstanding, weighted average contractual remaining life (in Years)	7 months 20 days
$1.00 | Warrant
Outstanding	350,000
Outstanding, weighted average exercise price	$ 100
Exercisable	350,000
Outstanding, weighted average contractual remaining life (in Years)	11 days
$0.36 | Employee Stock Option
Outstanding	175,000
Outstanding, weighted average exercise price	$ 0.36
Exercisable	175,000
Outstanding, weighted average contractual remaining life (in Years)	9 months 11 days

NOTE 11 - RELATED PARTY TRANS_2

NOTE 11 - RELATED PARTY TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Dec. 31, 2016	Jun. 30, 2016
Accounts Payable, Related Parties, Current	$ 269,787	$ 269,787
Misappropriated amount in operating funds	28,963
Officer
Debt Instrument, Periodic Payment	$ 500

NOTE 13 - SUBSEQUENT EVENTS (De

NOTE 13 - SUBSEQUENT EVENTS (Details) - USD ($)

Feb. 12, 2018

Jan. 31, 2019

Nov. 30, 2018

May 31, 2018

Apr. 30, 2018

Dec. 31, 2017

Nov. 30, 2017

Sep. 30, 2017

Aug. 31, 2017

Jul. 31, 2017

Mar. 31, 2017

Jan. 31, 2017

Oct. 31, 2014

Feb. 28, 2019

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Feb. 05, 2019

Apr. 05, 2019

Mar. 25, 2019

Jan. 11, 2019

Sep. 30, 2016

Jun. 30, 2016

Options exercised

0

Gain on debt extinguishment

$ 0

$ 0

$ 14,599

$ 0

Repayments of Convertible Debt

103,000

$ 0

Extinguishment of Debt, Amount

$ 80,000

Common Stock, Shares Authorized

300,000,000

300,000,000

300,000,000

Investor 2

Long-term Debt, Gross

$ 93,333

An investor

Debt Instrument, Face Amount

$ 500,000

Proceeds from notes payable

$ 175,000

Subsequent Event

Warrant terms

In March 2017, we entered into agreements with 13 creditors owed $343,902, which amount was settled for $10,734. Additionally, in March 2017, outstanding notes as follows were settled: (i) the IGS note and interest that aggregated $3,563,662 was settled for $88,282; and (ii) three note holders owed principal and accrued interest aggregating $603,688 and was settled for $13,500. In total $112,516 was disbursed for debt aggregating $4,511,252 and the Company recorded $4,398,736 as gain on debt extinguishment.

Restricted common shares purchased, Shares

5,568,333

Restricted common sthares purchased, Value

$ 436,000

Cash placement fees

$ 677,842

Alhambra Acquisition Description

Pursuant to a stock purchase agreement dated August 2017, the Company will acquire all the capital stock of Bullard’s Peak Corporation (which owns five patented claims and 82 unpatented claims in the Black Hawk district of New Mexico) from Black Hawk Consolidated Mines Company for a purchase price of $3,000,000, and the capital stock of Bullard’s Peak Corporation and the mining claims collateralize the full purchase price payment. The Company granted the seller a 2% net smelter return in perpetuity. The net smelter return is the greater of (i) all monies the Company receives for or from any and all ore removed from the property comprising the mining claims whether for exploration, mining operations or any other reason, and (ii) the fair market value of removed ore from the property comprising the mining claims. Title to the claims will be transferred upon receipt by seller of the full purchase price. In August 2018, the Company was informed that the seller terminated the stock purchase agreement. Pursuant to an amendment to the stock purchase agreement in October 2018, the Company paid the seller $100,000 and the seller rescinded the August 2018 election to terminate the stock purchase agreement and waived all then existing events of default and any additional interest, late fees, and other damage claims due to the Company’s prior breaches of the stock purchase agreement. On October 31, 2018, the Company paid the seller an additional $100,000. The balance of the purchase price of $350,365 (which includes $50,365 of expenses that the Company agreed to reimburse seller) is required to be paid: (i) $100,000 on or before November 30, 2018 and (ii) $250,365 on or before December 31, 2018. If any payment is not timely paid, all rights of the Company under the stock purchase agreement shall become automatically null and void and seller shall retain all monies paid as liquidated damages for the Company’s breach, and seller shall have no further obligations to the Company, including but not limited to, any obligation to transfer the capital stock of Bullard’s Peak Corporation to the Company pursuant to the terms of the stock purchase agreement. We paid $100,000 in November 2018 with respect to the Alhambra Silver Mine acquisition and owed a balance of approximately $250,000 on December 31, 2018, to complete the acquisition. Lack of funding on December 31, 2018 resulted in us entering into a third amendment pursuant to which we paid $65,000 on January 2, 2019, $100,000 on February 28, 2019, and with the final payment of $100,365 due on March 31, 2019.

British Columbia Properties Description

On November 30, 2017, the Company entered into substantially identical agreements with Fortune Graphite, Inc. and Worldwide Graphite Producers, Ltd. to acquire a total of four placer claims for aggregate consideration of Can$400,000 and the issuance of 10,000,000 shares of Company common stock. Title to these claims remained in trust with the sellers until payment in full. To date, the Company has paid to the sellers consideration of Can$260,000. The Company disclosed in a Form 8-K filing on November 20, 2018 that it had been notified that it was in default with respect to these two November 2017 agreements and that the sellers threatened legal action. The Company has engaged British Columbia counsel to review the two November 2017 agreements and has concluded that there were false representations made by the sellers and that certain conditions precedent of sellers were not satisfied. As a result, the Company’s position is that these two November 2017 agreements are not and were never binding and have requested sellers to refund the Can$260,000. The Company so informed sellers on March 4, 2019. The Company continues to evaluate its rights and remedies in connection with this matter. As a result, the Company does not own any rights to the four placer claims located in the Vernon mining district of British Columbia, Canada (which property is more fully set forth in the Form 8-K filing dated November 20, 2018).

New Mexico Mine Claims description

In September 2017, the Company acquired the Malone Mine claims, Playa Hidalgo Placer claims and the Pinos Altos claims for an aggregate of $500. In August of each calendar year, the Company is required to renew these claims at a price of $155 per claim.

Purchase agreement for New Mexico Mining Properties description

The Company has entered into a purchase agreement with a mining operator in January 2019 to purchase two properties in western New Mexico, the Billali Mine and the Jim Crow Imperial Mine. The purchase price for all rights and interests to be conveyed is $2,500,000 for the Billali Mine and $7,500,000 for the Jim Crow Imperial Mine, each documented as separate definitive agreements with aggregate consideration for both definitive agreements payable under the following terms:

Canarc Agreement Description

A forbearance agreement by and among Santa Fe and Canarc Resource Corp. (“Canarc”) was entered into and effective as of February 12, 2018. Canarc loaned Santa Fe $220,000 in 2014. The funding requirements were not attained and the loan became due on January 15, 2015. The Company agreed with Canarc to make four installment payments as follows: (i) $25,000 on February 14, 2018; (ii) $25,000 on June 30, 2018; (iii) $85,000 on October 1, 2018; and (iv) $85,000 on December 31, 2018. All payments were made on a timely basis. With the final payment completed, Canarc forgave $12,522 of principal and accrued interest on the note payable of $107,974 per the terms of the agreement and the Company recorded a gain on debt extinguishment of $120,496 in the quarter ended December 31, 2018.

Miscellaneous Description

In April 2018, the Company entered into an engagement with a financial advisory group for an initial four-month term and renewable under mutual agreement. The fees were $2,000 monthly and 50,000 shares of restricted common stock to be issued one month after the agreement date. The Company paid an aggregate of $18,229 under the agreement and cancelled the contract and the shares as of this filing have not been issued.

In December 2017 the Company signed a financial advisory agreement to assist the Company on moving forward for a monthly fee of $10,000 a month beginning in February 2018 and fees paid to date aggregate $135,000. The agreement also included a five-year warrant for 100,000 shares of common stock at an exercise price of $0.15 per share.

Misappropriation of Funds and Entry into a Material Definitive Agreement Description

In November 2018, Santa Fe filed a complaint in Luna County District Court, State of New Mexico, requesting a $930,000 money judgment against Mr. and Mrs. Laws, in addition to foreclosing on the mortgage Mr. and Ms. Laws granted to Santa Fe on real property to secure the promissory note located in Luna County, New Mexico.

Common Stock, Shares Authorized

550,000,000

Subsequent Event | Warrant

Options exercised

47,673,441

Warrant terms

The warrants had a term of 5 years and an exercise price ranging from $0.001 to $0.10.

Stock Issued During Period, Value, Stock Options Exercised

$ 6,386,416

Placement fee rate

10.00%

Subsequent Event | Chief Financial Officer [Member]

Restricted common shares purchased, Shares

476,484

Restricted common sthares purchased, Value

$ 47,648

Loss on debt conversion

$ 23,824

Subsequent Event | Chairman

Restricted common shares purchased, Shares

3,750,000

Restricted common sthares purchased, Value

$ 300,000

Subsequent Event | Investor 2

Repayments of Convertible Debt

$ 90,000

Extinguishment of Debt, Amount

$ 3,333

Subsequent Event | An investor

Stock reissued

18,000,000

Stock returned

18,000,000

Subsequent Event | Consultant1Member

Restricted common shares purchased, Shares

4,076,635

Restricted common sthares purchased, Value

$ 421,153