Financial Performance - The net loss for the year ended June 30, 2024, was $8,056,445, an increase of approximately 25% compared to a net loss of $6,450,531 in the previous year[147]. Expenses - Exploration and development expenses for the year ended June 30, 2024, were $2,061,618, a decrease of 15% or $361,938 from $2,423,556 in the prior year[148]. - Reclamation expenses at the Sleeper Gold Project increased by 1414% to $2,605,799 from $172,153 in the prior year, primarily due to the conversion of historical collection ponds[148]. - Directors' compensation increased by 39% to $199,590 from $143,192 in the prior year due to higher cash retainers and equity-based compensation[150]. - Professional fees decreased by 11% to $337,628 from $377,822 in the prior year, attributed to one-time consulting and legal fees incurred previously[151]. Cash Position - Cash and cash equivalents at June 30, 2024, were $5,423,059, significantly up from $824,920 as of June 30, 2023[153]. Share Issuance - The company issued 6,379,754 shares during the fiscal year for net proceeds of $1,923,120 under its equity offering program[154]. Future Expenditures - The company anticipates twelve-month cash expenditures of $4.0 million for corporate, land claim maintenance, and general expenses for the fiscal year ending June 30, 2025[156]. - The company expects to budget $1.8 million for state and federal permitting activities at the Grassy Mountain Project[156]. Asset Retirement Obligation - The asset retirement obligation for the Sleeper Gold Project decreased to $2,270,288 from $4,436,902, a net decrease of $2,166,614[152].
Paramount Gold Nevada(PZG) - 2024 Q4 - Annual Report