Paramount Gold Nevada Corp. Files 2024 10-K

TL;DR

Paramount Gold Nevada Corp. filed its 2024 10-K. All systems go for Grassy Mountain Project.

AI Summary

Paramount Gold Nevada Corp. filed its 2024 10-K, reporting on its fiscal year ending June 30, 2024. The company, focused on metal mining, is incorporated in Nevada and headquartered in Winnemucca. Key financial instruments and project details, such as the Grassy Mountain Project, are discussed, alongside executive compensation elements like Restricted Stock Units and Employee Stock Options.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Paramount Gold Nevada Corp.'s financial health, operational activities, and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: medium — As a mining company, Paramount Gold Nevada Corp. is subject to inherent risks associated with exploration, development, commodity prices, and regulatory environments.

Key Numbers

• 06/30/2024 — Fiscal Year End (Reporting period for the 10-K)
• NV — State of Incorporation (Legal domicile of the company)

Key Players & Entities

• Paramount Gold Nevada Corp. (company) — Filer of the 10-K
• 2024-06-30 (date) — Fiscal year end
• Winnemucca, NV (location) — Company headquarters
• Grassy Mountain Project (project) — Key company asset
• Seabridge Gold Inc. (company) — Related entity
• Nevada Select Royalty Inc. (company) — Related entity

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 Par Value Per Share PZG NYSE Americ
• $8.45 million — Coeur"), PGSC contributed approximately $8.45 million to us as an equity contribution, and we
• $1.47 million — cash payment by Coeur in the amount of $1.47 million. On March 14, 2016, Paramount Gold Ne

Filing Documents

• pzg-20240630.htm (10-K) — 2056KB
• pzg-ex3_3.htm (EX-3.3) — 8KB
• pzg-ex4_1.htm (EX-4.1) — 37KB
• pzg-ex21_1.htm (EX-21.1) — 8KB
• pzg-ex23_1.htm (EX-23.1) — 5KB
• pzg-ex23_2.htm (EX-23.2) — 8KB
• pzg-ex23_3.htm (EX-23.3) — 6KB
• pzg-ex23_4.htm (EX-23.4) — 6KB
• pzg-ex23_5.htm (EX-23.5) — 6KB
• pzg-ex23_6.htm (EX-23.6) — 6KB
• pzg-ex23_7.htm (EX-23.7) — 18KB
• pzg-ex23_8.htm (EX-23.8) — 7KB
• pzg-ex23_9.htm (EX-23.9) — 7KB
• pzg-ex31_1.htm (EX-31.1) — 16KB
• pzg-ex31_2.htm (EX-31.2) — 16KB
• pzg-ex32_1.htm (EX-32.1) — 8KB
• pzg-ex32_2.htm (EX-32.2) — 8KB
• pzg-ex97_1.htm (EX-97.1) — 44KB
• img162867219_0.jpg (GRAPHIC) — 26KB
• img162867219_1.jpg (GRAPHIC) — 109KB
• img162867219_2.jpg (GRAPHIC) — 36KB
• img162867219_3.jpg (GRAPHIC) — 219KB
• img162867219_4.jpg (GRAPHIC) — 67KB
• img162867219_5.jpg (GRAPHIC) — 112KB
• 0000950170-24-109633.txt ( ) — 9712KB
• pzg-20240630.xsd (EX-101.SCH) — 1325KB
• pzg-20240630_htm.xml (XML) — 1145KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 14 Item 2.

Properties

Properties 14 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4. Mine Safety Disclosures 31 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. [Reserved] 33 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 37 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 38 Item 9A.

Controls and Procedures

Controls and Procedures 38 Item 9B. Other Information 38 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 38 PART III Item 10. Directors, Executive Officers and Corporate Governance 39 Item 11.

Executive Compensation

Executive Compensation 39 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 39 Item 13. Certain Relationships and Related Transactions, and Director Independence 39 Item 14. Principal Accounting Fees and Services 39 PART IV Item 15. Exhibits, Financial Statement Schedules 40 i Cautionary Note Regarding Forward-Looking Statements This Form 10-K contains "forward-looking statements" within the meaning of applicable securities laws relating to Paramount Gold Nevada Corp. ("Paramount", "we", "us", "our", or the "Company") which represent our current expectations or beliefs including, but not limited to, statements concerning our operations, performance, and financial condition. These statements by their nature involve substantial risks and uncertainties, credit losses, dependence on management and key personnel, variability of quarterly results, and our ability to continue growth. Statements in this annual report regarding planned drilling activities and any other statements about Paramount's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements. You should also see our risk factors beginning on page 8 . For this purpose, any statements contained in this Form 10-K that are not statements of historical fact are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "anticipate", "intend", "could", "estimate", or "continue" or the negative or other comparable terminology are intended to identify forward-looking statements. Other matters such as our growth strategy and competition are beyond our control. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual outcomes and results could differ materially from those indicated in the forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligatio

B usiness

Item 1. B usiness. Paramount Gold Nevada Corp. is a Nevada corporation formed on June 15, 1992 under the name X-Cal (USA), Inc. Paramount Gold Nevada Corp. common stock trades on the NYSE American LLC under the symbol "PZG." Unless the context otherwise requires, reference to "we," "us," "our," "Paramount," the "Company" and other similar references refer to Paramount Gold Nevada Corp. INITIAL PUBLIC OFFERING AND ORGANIZATIONAL TRANSACTIONS On April 17, 2015, we entered into the previously disclosed separation and distribution agreement (the "Separation Agreement") with Paramount Gold and Silver Corp. ("PGSC"), to effect the separation (the "separation") of the Company from PGSC, and to provide for the allocation between the Company and PGSC of the Company's and PGSC's assets, liabilities and obligations attributable to periods prior to, at and after the separation. We filed a registration statement on Form S-1 in connection with the distribution (the "distribution") by PGSC to its stockholders of all the outstanding shares of common stock of the Company, par value $0.01 per share. The registration statement was declared effective by the Securities and Exchange Commission ("SEC") on April 9, 2015. On April 6, 2015, the Company filed a Form 8-A with the SEC to register its shares of common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended. The distribution, which effected a spin-off of the Company from PGSC, was made on April 17, 2015, to PGSC stockholders of record on April 14, 2015. On the distribution date, stockholders of PGSC received one share of Company common stock for every 20 shares of PGSC common stock held. Up to and including the distribution date, PGSC common stock traded on the "regular-way" market that is, with an entitlement to shares of Company common stock distributed pursuant to the distribution. As a result of the distribution, the Company is now a publicly traded company independent from PGSC. On April 20, 2015

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View this 10-K filing on SEC EDGAR