Financial Performance - For the three months ended December 31, 2024, the net loss was $2,031,489, an increase of 29% compared to a net loss of $1,574,559 for the same period in 2023[86] - For the six months ended December 31, 2024, the net loss was $3,603,627, a slight decrease of 1% compared to a net loss of $3,648,719 for the same period in 2023[86] Expenses - Exploration expenses for the three months ended December 31, 2024 were $377,112, representing a 24% increase from $304,033 in the same period in 2023[88] - Reclamation expenses for the three months ended December 31, 2024 were $16,420, a significant decrease of 99% from $1,469,897 in the same period in 2023[89] - Land holding costs for the three months ended December 31, 2024 increased by 19% to $186,389 from $157,143 in the same period in 2023[90] - Directors' compensation expenses for the three months ended December 31, 2024 were $48,447, an increase of 67% compared to $28,951 in the same period in 2023[97] - Professional fees for the six months ended December 31, 2024 were $257,231, an increase of 68% compared to $153,567 in the same period in 2023[101] Cash Position - As of December 31, 2024, the company had cash and cash equivalents of $3,405,400, down from $5,423,059 as of June 30, 2024[103] Future Expenditures - The company expects to incur $4.1 million in cash expenditures for corporate, land claim maintenance, and general expenses over the next twelve months[109] - The company anticipates $1.95 million in cash expenditures for state and federal permitting activities related to the Grassy Mountain Project over the next twelve months[109] Accounting and Financial Reporting - The Company capitalizes mineral property acquisition costs and amortizes them over the useful life of a property once production commences[113] - Exploration expenses are recorded as incurred, with no proven or probable reserves established to date, leading to continued expensing of exploration costs[114] - The fair value of the Company's asset retirement obligation (ARO) is estimated using discounted cash flows, reflecting significant judgments and estimates[115] - Convertible debt with embedded conversion features is assessed for separate accounting as derivatives, impacting the financial results based on fair value changes[116] - The Company does not currently engage in any off-balance sheet arrangements that could materially affect its financial condition or results[117]
Paramount Gold Nevada(PZG) - 2025 Q2 - Quarterly Report