Annual report pursuant to Section 13 and 15(d)

Commitments

v2.4.0.6
Commitments
 12 Months Ended
Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
Commitments
Note 10 - Commitments
Operating Leases. The following table summarizes the Company's future minimum rental commitments under non-cancelable operating leases, net of guaranteed sublease income, as of:
 
June 30,
2012
 
(In thousands)
Amounts payable in:
 
2013
$
97

2014
162

2015
262

2016
268

2017 and thereafter
363

Total
$
1,152


Rental expenses for each of the years ended June 30, 2012, 2011, and 2010, were $0.6 million, $0.5 million, and $0.4 million, respectively.
Purchase obligations. Although the Company is committed to certain exploration and capital expenditures related to MPAL, some of these expenses may be farmed out to third parties. Amounts payable under these firm commitments for fiscal year 2013 were $5.4 million as of June 30, 2012.