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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash $ 24,118,918 $ 15,504,819
Restricted cash 234,433 232,572
Prepaid expenses and other 1,278,663 1,112,910
Total current assets 25,632,014 16,850,301
LONG-TERM ASSETS:    
Investment in Peak Gold, LLC 54,468,519 28,064,405
Property & equipment, net 13,279,522 13,326,347
Commitment fee 255,517 350,575
Total long-term assets 68,003,558 41,741,327
TOTAL ASSETS 93,635,572 58,591,628
CURRENT LIABILITIES:    
Accounts payable 790,613 250,739
Accrued liabilities 1,976,353 2,241,087
Derivative contract liability 17,869,326 2,679,784
Debt, current portion 29,900,000 7,900,000
Total current liabilities 50,536,292 13,071,610
NON-CURRENT LIABILITIES:    
Advance royalty reimbursement 1,200,000 1,200,000
Asset retirement obligations 252,547 246,227
Contingent consideration liability 1,100,480 1,100,480
Derivative contract liability 33,727,276 20,737,997
Debt, net 44,698,449 36,779,859
Total non-current liabilities 80,978,752 60,064,563
TOTAL LIABILITIES 131,515,044 73,136,173
COMMITMENTS AND CONTINGENCIES (NOTE 11)
STOCKHOLDERS’ EQUITY/(DEFICIT):    
Preferred Stock, 15,000,000 shares authorized
Common Stock, $0.01 par value, 45,000,000 shares authorized; 10,365,914 shares issued and 10,363,434 shares outstanding as of June 30, 2024; 9,454,233 shares issued and 9,451,753 shares outstanding as of December 31, 2023 103,658 94,542
Additional paid-in capital 140,150,016 124,451,067
Treasury stock at cost (2,480 at June 30, 2024; and 2,480 shares at December 31, 2023) (48,308) (48,308)
Accumulated deficit (178,084,838) (139,041,846)
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT) (37,879,472) (14,544,545)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT) $ 93,635,572 $ 58,591,628