Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
OPERATING ACTIVITIES:    
(LOSS) INCOME AFTER INCOME TAX $ (19,767) $ 26,483
Adjustments to reconcile net loss to net cash used in operating activities:    
Foreign transaction loss (gain) 18 (1,038)
Depletion, depreciation, amortization, and accretion 1,534 1,744
Interest earned on restricted deposits 0 (24)
Fair value decrease of contingent consideration payable (132) (79)
Deferred income taxes (1,266) (5,951)
Gain on disposal of assets 0 (40,413)
Exploration costs previously capitalized 2,299 2,930
Stock based compensation 848 1,560
Related party withholding tax (Note 13) 0 1,082
Impairment loss 890 328
Severance benefit costs 418 0
Net changes in operating assets and liabilities:    
Accounts receivable 401 3,021
Inventories (47) 142
Prepayments and other current assets 80 (36)
Accounts payable and accrued liabilities (3,255) (138)
Other long term liabilities (51) (113)
Income taxes payable 0 61
Net cash used in operating activities (18,030) (10,441)
INVESTING ACTIVITIES:    
Additions to property and equipment (2,925) (9,577)
Proceeds from sale of assets 0 35,089
Purchase of working interest in Poplar 0 (823)
Refund of deposit for purchase of Evans shoal (includes interest) 0 10,940
Net cash (used in) provided by investing activities (2,925) 35,629
FINANCING ACTIVITIES:    
Proceeds from issuance of stock 0 35
Repurchase of common stock (9,333) 0
Repurchase of warrant (813) 0
Proceeds from issuance of preferred stock, net of $520 issuance cost 22,982 0
Short term debt issuances 2,000 6,075
Short term debt repayments (1,999) (6,025)
Purchase of non-controlling interest - Nautilus Poplar LLC 0 (3,461)
Long term debt repayments (480) (552)
Net cash provided by (used in) financing activities 12,357 (3,928)
Effect of exchange rate changes on cash and cash equivalents (148) (462)
Net (decrease) increase in cash and cash equivalents (8,746) 20,798
Cash and cash equivalents at beginning of period 41,215 20,417
CASH AND CASH EQUIVALENTS AT END OF PERIOD 32,469 41,215
Cash payments (receipts):    
Interest paid 63 109
Supplemental schedule of non-cash investing and financing activities:    
Unrealized holding loss (112) (83)
Revision to estimate of asset retirement obligation (758) (603)
Asset retirement obligation assumed 3 3,035
Accounts payable related to capital expenditure 81 155
Accrued preferred stock dividends 202 0
Accretion of preferred stock to fair value 520 0
Amounts in accrued and other liabilities related to Sopak (See Note 13) 1,000 0
Amounts in prepaid and other assets related to Sopak (See Note 13) 1,000 0
Purchase of non-controlling interest for stock and contingent consideration 0 4,729
Purchase of 3% working interest for stock and contingent consideration $ 0 $ 1,243