NioCorp Developments (NB) 10-K 8 Sep 21 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Sep. 08, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	NIOCORP DEVELOPMENTS LTD
Entity Central Index Key	0001512228
Document Type	10-K
Amendment Flag	false
Entity Incorporation State Country Code	A1
Current Fiscal Year End Date	--06-30
Document Period End Date	Jun. 30, 2021
Entity File Number	000-55710
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 139,404,667
Entity Common Stock, Shares Outstanding		258,683,308
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Current
Cash	$ 7,317	$ 307
Prepaid expenses and other	24	31
Total current assets	7,341	338
Non-current
Deposits	35	35
Investment in equity securities	16	7
Right-of-use assets	156
Land and buildings, net	837
Mineral interests	16,085	10,617
Total assets	24,470	10,997
Current
Accounts payable and accrued liabilities	408	3,065
Related party loan	2,318	3,818
Convertible debt, current portion	1,123	838
Operating lease liability	69
Notes payable, current portion		258
Derivative liability, convertible debt		33
Total current liabilities	3,918	8,012
Non-current
Notes payable, net of current portion		344
Operating lease liability	105
Convertible debt, net of current portion	6,784
Total liabilities	10,807	8,356
SHAREHOLDERS' EQUITY
Common stock, no par value, unlimited shares authorized; shares outstanding: 256,379,931 at June 30, 2021 and 235,925,684 at June 30, 2020	113,882	97,682
Accumulated deficit	(99,076)	(94,686)
Accumulated other comprehensive loss	(1,143)	(355)
Total shareholder equity	13,663	2,641
Total liabilities and equity	$ 24,470	$ 10,997

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Common stock, authorized	Unlimited	Unlimited
Common stock, outstanding		235,925,684

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Operating expenses
Employee related costs	$ 1,655	$ 1,376	$ 1,557
Professional fees	386	327	315
Exploration expenditures	1,056	1,201	3,144
Other operating expenses	995	528	1,420
Total operating expenses	4,092	3,432	6,436
Change in financial instrument fair value	(32)	38	630
Other income	(208)
Loss on debt extinguishment	163
Foreign exchange loss (gain)	(729)	179	(3)
Interest expense	1,113	354	266
(Gain) loss on equity securities	(9)	(2)	7
Loss before income taxes	4,390	4,001	7,336
Income tax benefit
Net loss	4,390	4,001	7,336
Other comprehensive loss:
Net loss	4,390	4,001	7,336
Other comprehensive (gain) loss:
Reporting currency translation	788	(171)	6
Total comprehensive loss	$ 5,178	$ 3,830	$ 7,342
Loss per common share, basic and diluted (in dollars per share)	$ 0.02	$ 0.02	$ 0.03
Weighted average common shares outstanding (in shares)	241,967,116	234,610,126	223,160,189

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Total loss for the period	$ (4,390)	$ (4,001)	$ (7,336)
Adjustments for:
Noncash lease expense	30
Change in financial instrument fair value	(32)	38	630
Unrealized (gain) loss on equity securities	(9)	(2)	7
Accretion of convertible debt	670		44
Foreign exchange (gain) loss	(665)	144	23
Gain on debt forgiveness	(196)
Loss on debt extinguishment	163
Write-off of deferred costs			474
Share-based compensation	797	153	604
Subtotal	(3,632)	(3,668)	(5,554)
Change in working capital items:
Receivables
Prepaid expenses	9	40	(53)
Accounts payable and accrued liabilities	(1,103)	579	1,252
Net cash used in operating activities	(4,726)	(3,049)	(4,355)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of mineral rights	(5,468)
Acquisition of land and buildings	(837)
Net cash used in investing activities	(6,305)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of capital stock	10,677	470	3,794
Share issue costs	(174)		(134)
Issuance of convertible debt, net of costs	9,477		1,000
Loan repayments	(406)
Related party debt draws		2,338
Related party debt repayments	(1,500)
Long term debt funding		196
Net cash provided by financing activities	18,074	3,004	4,660
Exchange rate effect on cash, cash equivalents and restricted cash	(33)	(5)	(21)
Change in cash, cash equivalents and restricted cash during period	7,010	(50)	284
Cash, cash equivalents and restricted cash, beginning of period	307	357	73
Cash, cash equivalents and restricted cash, end of period		307	357
Supplemental cash flow information:
Amounts paid for interest	873	64	129
Amounts paid for income taxes
Conversion of debt for common shares	3,106	980	4,582
Recognition of operating lease liabilities	231
Derecognition of operating lease liabilities	(22)
Accounts payable to note conversion	1,640	406
Value of warrants issued	$ 1,795		$ 156

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Deficit [Member]	Accumulated other comprehensive income [Member]	Total
Balance, beginning at Jun. 30, 2018	$ 87,062	$ (83,349)	$ (520)	$ 3,193
Balance, beginning (in shares) at Jun. 30, 2018	213,405,372
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants	$ 64			64
Exercise of warrants (in shares)	115,000
Exercise of options
Exercise of options (in shares)	16,203
Fair value of warrants granted	$ 156			156
Private placement - September 2018	$ 2,412			2,412
Private placement - September 2018 (in shares)	4,975,158
Private placement - April 2019	$ 1,317			1,317
Private placement - April 2019 (in shares)	2,957,164
Debt conversions	$ 4,582			4,582
Debt conversions (in shares)	11,027,318
Share issuance costs	$ (134)			(134)
Share-based compensation	604			604
Reporting currency presentation			(6)	(6)
Loss for the period		(7,336)		(7,336)
Balance, ending at Jun. 30, 2019	$ 96,063	(90,685)	(526)	4,852
Balance, ending (in shares) at Jun. 30, 2019	232,496,215
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants	$ 338			338
Exercise of warrants (in shares)	664,549
Exercise of options	$ 148			148
Exercise of options (in shares)	320,500
Debt conversions	$ 980			980
Debt conversions (in shares)	2,444,420
Share-based compensation	$ 153			153
Reporting currency presentation			171	171
Loss for the period		(4,001)		(4,001)
Balance, ending at Jun. 30, 2020	$ 97,682	(94,686)	(355)	$ 2,641
Balance, ending (in shares) at Jun. 30, 2020	235,925,684			235,925,684
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants	$ 5,338			$ 5,338
Exercise of warrants (in shares)	9,106,283
Exercise of options	$ 215			215
Exercise of options (in shares)	2,952,296
Fair value of warrants granted	$ 1,795			1,795
Private placement - May 2021	$ 5,124			5,124
Private placement - May 2021 (in shares)	4,334,157
Debt conversions	$ 3,106			3,106
Debt conversions (in shares)	4,061,511
Share issuance costs	$ (175)			(175)
Share-based compensation	797			797
Reporting currency presentation			(788)	(788)
Loss for the period		(4,390)		$ (4,390)
Balance, ending at Jun. 30, 2021	$ 113,882	$ (99,076)	$ (1,143)
Balance, ending (in shares) at Jun. 30, 2021	256,379,931

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in one reportable operating segment consisting of exploration and development of mineral deposits in North America, specifically, the Elk Creek Niobium/Scandium/Titanium property (the “Elk Creek Project”) located in Southeastern Nebraska. These consolidated financial statements have been prepared on a going concern basis that contemplates the realization of assets and discharge of liabilities at their carrying values in the normal course of business for the foreseeable future. These financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern. The Company currently earns no operating revenues and will require additional capital in order to advance the Elk Creek Project. These matters raised substantial doubt about the Company’s ability to continue as a going concern, and the Company is dependent upon the generation of profits from mineral properties, obtaining additional financing and maintaining continued support from its shareholders and creditors.

BASIS OF PREPARATION

BASIS OF PREPARATION	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION	2. BASIS OF PREPARATION a) Basis of Preparation and Consolidation These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the U.S. (“U.S. GAAP”). Certain transactions include reference to Canadian dollars (“C$”) where applicable. These consolidated financial statements include the accounts of the Company and the subsidiaries listed in the following table. All intercompany transactions and balances have been eliminated. Country of Ownership at June 30, incorporation 2021 2020 0896800 BC Ltd. (“0896800”) Canada 100 % 100 % Elk Creek Resources Corp. (“ECRC”) USA 100 % 100 % b) Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected. c) Prior Period Presentation During fiscal year 2021 the Company combined the presentation of Additional Paid in Capital into the Common stock line item in Shareholders’ Equity on the consolidated balance sheets. This presentation change was made as the Company’s common shares are issued at no par value (“Common Shares”), and the fiscal year 2020 and 2019 presentations were changed to conform with the current period presentation.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	3. SIGNIFICANT ACCOUNTING POLICIES a) Exploration Stage Enterprise The Company is in the exploration stage of operation and devotes substantially all of its efforts to acquiring and exploring mining interests that management believes should eventually provide sufficient net profits to sustain the Company’s existence. Until such interests are engaged in commercial production, the Company will continue to seek additional funding to support the completion of its exploration and development activities. The Company’s activities are subject to significant risks and uncertainties, including its ability to secure sufficient funding to continue operations, to obtain proven and probable reserves, to comply with industry regulations and obtain permits necessary for development of the Elk Creek Project, as well as environmental risks and market conditions. b) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in banks, investments in certificates of deposit with original maturities of 90 days or less, and money market funds. c) Foreign Currency Translation Functional and reporting currency Items included in the financial statements of each of the Company’s entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The functional currency of the Company is the Canadian dollar and the functional currency for Elk Creek Resources Corp., a wholly owned subsidiary, is the U.S. dollar. The reporting currency for these consolidated financial statements is U.S. dollars. Transactions in foreign currency Transactions made in a currency other than the functional currency are remeasured to the functional currency at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are remeasured to the functional currency at the exchange rate at that date and non-monetary assets and liabilities are remeasured at historical rates. Foreign currency translation gains and losses are included in profit or loss. Translation to reporting currency The results and financial position of entities that have a functional currency different from the reporting currency are translated into the reporting currency as follows: ● Assets and liabilities for each statement of financial position presented are translated at the closing rate at the end of the reporting date. ● Income and expenses for each statement of income are translated at average exchange rates, unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions. ● All resulting exchange differences are recognized in other comprehensive income. d) Mineral Properties Mineral property acquisition costs, including indirectly related acquisition costs, are capitalized when incurred. Acquisition costs include cash consideration and the fair market value of Common Shares issued as consideration. Properties acquired under option agreements, whereby payments are made at the sole discretion of the Company, are capitalized as mineral property acquisition costs at such time as the payments are made. Exploration costs are expensed as incurred. When it is determined that a mining deposit can be economically and legally extracted or produced based on established proven and probable reserves under the United States Securities and Exchange Commission (“SEC”) Industry Guide 7, development costs related to such reserves and incurred after such determination will be considered for capitalization. The establishment of proven and probable reserves is based on results of feasibility studies, which indicate whether a property is economically feasible. Upon commencement of commercial production, capitalized costs will be amortized over their estimated useful lives or units of production, whichever is a more reliable measure. Capitalized amounts relating to a property that is abandoned or otherwise considered uneconomic for the foreseeable future are written off. The recoverability of the carrying values of mineral properties is dependent upon economic reserves being discovered or developed on the properties, permitting, financing, start-up, and commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of a project will depend on, among other things, management’s ability to raise sufficient capital for these purposes. We assess the carrying cost of our mineral properties for impairment whenever information or circumstances indicate the potential for impairment. This would include events and circumstances such as our inability to obtain all the necessary permits, changes in the legal status of our mineral properties, government actions, the results of exploration activities and technical evaluations and changes in economic conditions, including the price of commodities or input prices. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the estimated future undiscounted cash flows are less than the carrying value of the property, an impairment loss will be recorded. Where estimates of future net cash flows are not determinable and where other conditions indicate the potential for impairment, management uses available market information and/or third-party valuation experts to assess if the carrying value can be recovered and to estimate fair value. e) Long Lived Assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. f) Leases Effective July 1, 2019, we adopted ASC 842, Leases. The impact of this adoption was immaterial. Under ASC 842, we determine if a contractual arrangement is, or contains, a lease at the inception date. Right-of-use (“ROU”) assets and liabilities related to operating leases are separately reported in the consolidated balance sheets. The Company currently has no finance leases. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. When the rate implicit to the lease cannot be readily determined, we utilize our incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that a lessee would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the ROU asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred. g) Financial Instruments The Company’s financial instruments consist of cash, receivables, equity securities, accounts payable and accrued liabilities, convertible debt and the related party loan. It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The fair values of these instruments approximate their carrying value unless otherwise noted. h) Concentration of Credit Risk The financial instrument which potentially subjects the Company to credit risk is cash and cash equivalents, The Company holds investments or maintains available cash primarily in two commercial banks located in Vancouver, British Columbia and Santa Clara, California. As part of its cash management process, the Company regularly monitors the relative credit standing of these institutions. i) Asset Retirement Obligation The Company is subject to various government laws and regulations relating to environmental disturbances caused by exploration and evaluation activities. The estimated costs associated with environmental remediation obligations are accrued in the period in which the liability is incurred if it is reasonably estimable or known. Until such time that a project life is established, the Company records the corresponding cost as an exploration stage expense and has accrued $48 related to estimated obligations as of June 30, 2021 (2020 - $48). Future reclamation and environmental-related expenditures are difficult to estimate in many circumstances due to the early-stage nature of the Elk Creek Project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation or remediation technology. The Company periodically reviews accrued liabilities for such reclamation and remediation costs as evidence indicating that the liabilities have potentially changed becomes available. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised. j) Income Taxes Income taxes are provided based upon the liability method of accounting pursuant to Accounting Standards Codification (“ASC”) 740-10-25, “Income Taxes – Recognition.” k) Basic and Diluted Per Share Disclosure Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of Common Shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities. Potentially dilutive shares, such as stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock and when a net loss is reported. The dilutive effect of convertible debt securities is reflected in the diluted earnings (loss) per share calculation using the if-converted method. Conversion of the debt securities is not assumed for purposes of calculating diluted earnings (loss) per share if the effect is anti-dilutive. l) Share Based Compensation The Company grants stock options to directors, officers, and employees. Option terms and vesting conditions are at the discretion of the Board of Directors. The option exercise price is equal to the closing market price on the Toronto Stock Exchange on the day preceding the date of grant. The Company estimates the fair value of stock options using the Black-Scholes option pricing model. The Company recognizes forfeitures as they occur. m) Recent Accounting Standards Issued and Adopted In July 2020, NioCorp adopted Accounting Standards Update (“ASU”) 2018-13 – “Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This update modifies the disclosure requirements on fair value measurements in Topic 820 and eliminates ‘at a minimum’ from the phrase ‘an entity shall disclose at a minimum’ to promote the appropriate exercise of discretion by entities when considering fair value disclosures and to clarify that materiality is an appropriate consideration. The adoption of this standard had no impact on the consolidated financial statements. Issued and Not Effective In August 2020, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40),” which simplifies the accounting for convertible instruments. The guidance removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments, requiring bifurcation only if the convertible debt feature qualifies as a derivative or for convertible debt issued at a substantial premium. The ASU removes certain settlement conditions required for equity contracts to qualify for the derivative scope exception, permitting more contracts to qualify for the exception. In addition, the guidance eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The ASU is effective for annual reporting periods beginning after December 15, 2021, including interim reporting periods within those annual periods, with early adoption permitted no earlier than the fiscal year beginning after December 15, 2020. The ASU allows entities to use a modified or full retrospective transition method. Under the modified approach, entities will apply the guidance to all financial instruments that are outstanding as of the beginning of the year of adoption with the cumulative effect recognized as an adjustment to the opening balance of retained earnings. Under the full retrospective method, entities will apply the guidance to all outstanding financial instruments for each prior reporting period presented. The Company will adopt this ASU on July 1, 2022, and is currently evaluating the potential impact of the new guidance on our financial statements. In December 2019, the FASB issued ASU No 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company will adopt this ASU on July 1, 2021, and does expect ASU 2019-12 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

GOING CONCERN ISSUES

GOING CONCERN ISSUES	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN ISSUES	4. GOING CONCERN ISSUES The Company incurred a loss of $4,390 for the year ended June 30, 2021 (2020 - $4,001 and 2019 - $7,336) and had an accumulated deficit of $99,076 as of June 30, 2021. As an exploration stage entity, the Company has not yet commenced its mining operations and accordingly does not generate any revenue. As of June 30, 2021, the Company had cash of $8,626 which may not be sufficient to fund normal operations for the next twelve months without deferring payment on certain liabilities or raising additional funds. In addition, the Company will be required to raise additional funds for construction and commencement of operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue operations and fund its expenditures is dependent on management’s ability to secure additional financing. Management is actively pursuing such additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. These consolidated financial statements do not give effect to any adjustments required to realize the Company’s assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements. Since March 2020, several measures have been implemented in the United States, Canada, and the rest of the world in response to the increased impact from the novel coronavirus (“COVID-19”). The full extent to which the COVID-19 pandemic and our precautionary measures may continue to impact our business will depend on future developments, which continue to be highly uncertain and cannot be predicted at this time, including, but not limited to, the duration and geographic spread of the pandemic, its severity, the actions to contain the virus or treat its impact, future spikes of COVID-19 infections resulting in additional preventative measures to contain or mitigate the spread of the virus, the effectiveness, distribution and acceptance of COVID-19 vaccines, including the vaccines’ efficacy against emerging COVID-19 variants, and how quickly and to what extent normal economic and operating conditions can resume. We believe this could have an adverse impact on our ability to obtain financing, development plans, results of operations, financial position, and cash flows during the current fiscal year.

MINERAL INTERESTS

MINERAL INTERESTS	12 Months Ended
	Jun. 30, 2021
Mineral Industries Disclosures [Abstract]
MINERAL INTERESTS	5. MINERAL INTERESTS During the year ended June 30, 2011, the Company completed the acquisition of the Elk Creek property through a share exchange agreement with 0859404 BC Ltd, a Canadian company, which owned all the issued and outstanding shares of ECRC. The Company issued 18,990,539 Common Shares to acquire all of the issued and outstanding shares of 0859404 BC Ltd. and issued 1,034,348 Common Shares as a finder’s fee with respect to the acquisition. The transaction did not meet the definition of a business acquisition, as set forth in ASC 805, and therefore was accounted for as a purchase of assets. The acquisition price was based on the market value of the Company’s Common Shares on the closing date and total consideration given was C$13,246, including associated deferred tax impacts of C$4,736. On April 23, 2021, ECRC formally closed the purchase of two parcels of land and associated buildings and mineral rights in Johnson County, Nebraska, associated with the Elk Creek Project, pursuant to an Amended and Restated Option to Purchase, dated as of April 29, 2020 (the “Option Agreement”). Pursuant to the terms of the Option Agreement, the Owner sold, transferred, conveyed and assigned all of her rights, privileges, title and interest in and to the real property to ECRC, including any associated mineral rights. The Option Agreement provided for a purchase price calculated based on the appraised value per acre of the parcels of land, the mineral rights and the structures erected on the land. The purchase price was approximately $6,300, including indirect costs of $57. Of this amount, $837 was allocated to land and buildings and the remaining $5,468 was allocated to mineral interests as costs related to mineral rights acquisition. In addition to the land and mineral rights currently owned by the Company, the property interests of Elk Creek include nine prepaid mineral exploration option-to-purchase agreements and include a pre-determined buyout for permanent ownership of the mineral and/or surface rights. Terms of the agreements require no further significant payments, and the Company may negotiate lease extensions or elect to purchase the mineral and/or surface rights any time. Agreements that allow for the purchase of mineral rights contain provisions whereby the landowners would retain a 2% net smelter return.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Liabilities, Current [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES As of June 30, Note 2021 2020 Accounts payable, trade $ 163 $ 2,460 Interest payable to related party 10 40 450 Other accruals 205 155 Total accounts payable and accrued liabilities $ 408 $ 3,065

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	7. CONVERTIBLE DEBT As of June 30, 2021 2020 Current Portion: Nordmin note $ 1,123 $ - Convertible promissory notes - 800 Lind IV convertible security - 38 Total current portion $ 1,123 $ 838 Noncurrent Portion: Lind III convertible security $ 6,784 $ - Lind III Convertible Security On February 19, 2021, the Company issued to Lind Global Asset Management III, LLC (“Lind III”), an entity managed by The Lind Partners, a New York-based asset management firm (“The Lind Partners”), a convertible security (the “Lind III Convertible Security”) pursuant to a definitive convertible security funding agreement, dated as of February 16, 2021 (the “Lind III Agreement”), between the Company and Lind III. The Lind III Convertible Security has a face value of $11,700 (representing $10,000 in funding plus an implied 8.5% interest rate per annum for the term of the Lind III Convertible Security). After deducting a $350 commitment fee as set forth in the Lind III Agreement, NioCorp received net proceeds of $9,650 from the funding of the Lind III Convertible Security. As further discussed in Note 5, on April 23, 2021, the Company used a portion of the proceeds from the funding of the Lind III Convertible Security to purchase a key land parcel associated with the Company’s Elk Creek Project, with the remainder to be spent for general corporate purposes. The Lind III Convertible Security has a term of (i) 24 months or (ii) 30 calendar days after the date on which the face value of the Lind III Convertible Security is nil due to such amount having been fully converted and/or fully repaid (including with any applicable premium) in accordance with the terms of the Lind III Agreement, whichever is earlier. The Lind III Convertible Security constitutes the direct, general and unconditional obligation of the Company and ranks pari-passu with the Company’s other indebtedness. The Lind III Convertible Security is guaranteed on a secured basis by 0896800 and ECRC. The Lind III Convertible Security is secured by all of the assets and property of the Company and 0896800, including all of the issued and outstanding shares of 0896800 pledged by the Company and all of the issued and outstanding shares of ECRC pledged by 0896800, and certain real property and fixtures of ECRC. The liens securing the Lind III Convertible Security rank pari-passu with the liens securing a non-revolving credit facility (the “Smith Credit Facility”) with a limit of $3,500 with Mark Smith, President, Chief Executive Officer (“CEO”) and Executive Chairman of NioCorp, pursuant to the Credit Facility Agreement, dated January 16, 2017, between the Company and Mr. Smith, as amended from time to time. The liens securing the Lind III Convertible Security rank senior to the liens securing the Smith Credit Facility on any amount that is owed by the Company to Mr. Smith in excess of $4,000. Pursuant to the Lind III Agreement, Lind III is entitled to convert the Lind III Convertible Security into Common Shares in monthly installments over its term at a price per Common Share equal to 85% of the volume-weighted average price Common Shares on the Toronto Stock Exchange (“TSX”) for the five trading days immediately preceding to the date on which Lind III provides notice to the Company of its election to convert. The Lind III Agreement provides that Common Shares issuable upon conversion, together with the number of Common Shares issued upon exercise of Warrants, shall not exceed 43,588,000 Common Shares. Subject to certain exceptions, the Lind III Agreement contains restrictions on how much of the Lind III Convertible Security may be converted in any particular month. The Lind III Agreement also provides NioCorp with the option to buy back the remaining face amount of the Lind III Convertible Security in cash at any time; provided that, if the Company exercises such option, Lind III will have the option to convert up to 33.33% of the remaining face amount into Common Shares at the price described above. In addition, Lind III is entitled to accelerate its conversion right to the full amount of the face value of the Lind III Convertible Security or demand repayment thereof in cash upon the occurrence of an event of default and other designated events described in the Lind III Agreement. On February 19, 2021, in connection with the funding and issuance of the Lind III Convertible Security, the Company issued 8,558,000 Common Share purchase warrants, exercisable at a price per Common Share of C$0.97, expiring February 19, 2025 (the “Lind III Warrants”), to Lind III pursuant to the Lind III Agreement. The Company identified embedded derivatives in the Lind III Convertible Security that were evaluated to be immaterial at both the closing date and at June 30, 2021. The Company allocated the net proceeds of $9,477 from the Lind III Convertible Security as follows: ● $1,712 was booked to Common Stock, representing the fair value of the Lind III Warrants based on the Black Scholes pricing model using a risk-free interest rate of 0.40%, an expected dividend yield of 0%, a volatility of 51.60%, and an expected life of 4.0 years. ● $7,938 was booked to the convertible debt liability. Transaction costs of $173, in addition to a commitment fee of $350, were recognized as a direct deduction from the debt liability, resulting a net opening balance of $7,765. This balance will be accreted up to face value of the Lind III Convertible Security at maturity using the effective interest method and recorded as non-cash interest expense in the consolidated statement of operations. Based on the Company’s closing Common Share price of C$1.70 as of June 30, 2021, conversion of the remaining Lind III Convertible Security balance, including accrued interest, would require the issuance of approximately 13,738,000 Common Shares. For each C$0.01 change in the fair value of one Common Share, the total shares the Company would be obligated to issue would change by approximately 110,000 shares. Changes in the Lind III Convertible Security are as follows: Convertible Initial valuation $ 7,765 Conversions (1,600 ) Accretion expense 619 Balance, June 30, 2021 $ 6,784 The Lind III Convertible Security contains financial and non-financial covenants customary for a facility of this size and nature, and includes a financial covenant defining an event of default as all present and future liabilities of the Company or any of its subsidiaries, exclusive of related party loans, for an amount or amounts exceeding C$2.0 million, and which have not been satisfied on time or within 90 days of invoice, or have become prematurely payable as a result of its default or breach. The Company was in compliance with these covenants as of June 30, 2021. Nordmin Note On December 18, 2020, the Company issued a convertible note in the principal amount of approximately $1,872 (the “Nordmin Note”) and 500,000 Common Share purchase warrants, exercisable at a price per Common Share of $0.80, expiring December 18, 2022 (the “Nordmin Warrants”) to Nordmin Engineering Ltd. (“Nordmin”) pursuant to a convertible note and warrant subscription agreement, dated December 18, 2020 (the “Nordmin Agreement”), between the Company and Nordmin. Under the Nordmin Agreement, Nordmin agreed to subscribe for and purchase the Nordmin Note and Nordmin Warrants for a subscription price of approximately $1,804. This amount was set off against the amount owed to Nordmin by NioCorp for past services. The Nordmin Note will mature on December 18, 2021, and has no stated interest rate, an implied interest rate of 5% per annum and, subject to certain terms and conditions, is convertible into up to 4,500,000 Common Shares at a conversion price of 92% of the five-day volume-weighted average price of the Common Shares on the TSX at the time of conversion. The Nordmin Note contains restrictions on how much of the principal amount may be converted in any 30-day period. The Nordmin Note also provides the Company with the option to prepay, in whole or in part, any outstanding principal amount thereunder, upon three days’ notice to Nordmin. In addition, Nordmin is entitled to accelerate the maturity of the Nordmin Note and require the Company to prepay the outstanding principal amount upon the occurrence of an event of default and other designated events described in the Nordmin Note. The Nordmin Note constitutes the direct, general and unconditional obligation of the Company. The Nordmin Note is unsecured and ranks effectively junior to the Company’s secured indebtedness, including under the Lind III Convertible Security, the Smith Loan and the Smith Credit Facility, to the extent of the value of the assets securing such indebtedness. Pursuant to the terms of the Nordmin Agreement, on December 18, 2020, the Company issued 836,551 Common Shares to Nordmin upon an initial conversion of $450 in principal amount of the Nordmin Note at a conversion price of C$0.684 per share. The Company accounted for this transaction as a debt extinguishment under Accounting Standards Codification 470, Debt. Accordingly, the Company wrote off the value of the existing obligation, calculated the fair value of the Nordmin Note and recorded a loss of $163 on the difference in the consolidated statement of operations. This loss included $63 related to the fair value of the Nordmin Warrants at closing. The fair value of the Nordmin Warrants was estimated based on the Black Scholes pricing model using a risk-free interest rate of 0.32%, an expected dividend yield of 0%, a volatility of 43.16%, and an expected life of 2.0 years. The Company initially recorded the Nordmin Note at a fair value of $1,740. The remaining initial fair value balance will be accreted up to net face value of the Nordmin Note over the remaining time until maturity using the effective interest method. In addition, transaction costs of $25 were expensed at closing. Changes in the Nordmin Note are as follows: Convertible Note Extinguishment of accounts payable $ 1,740 Conversions (668 ) Accretion expense 51 Balance, June 30, 2021 $ 1,123 Based on the Company’s closing Common Share price of C$1.70 as of June 30, 2021, conversion of the remaining Nordmin Note balance would require the issuance of 819,000 Common Shares. For each C$0.01 change in the fair value of one Common Share, the total shares the Company would be obligated to issue would change by approximately 4,800 shares. Convertible Promissory Notes The Company completed a non-brokered private placement of unsecured convertible promissory notes, for gross proceeds of $800 in October 2015. The convertible promissory notes bore interest at a rate of 8%, payable quarterly in arrears, were non-transferable and had an original term of three years from the date of issue. Principal under the convertible promissory notes was convertible by lenders at any time into, and payable by the Company in, Common Shares of the Company at a conversion price of C$0.97 per Common Share, calculated on conversion or repayment using the then-current Bank of Canada noon exchange rate. Interest, when due, was payable either in cash or Common Shares, at the election of the Company. Effective October 10, 2018, the due date for the convertible promissory notes was extended for one year to October 14, 2019, and effective October 10, 2019, the due date was extended for one year to October 14, 2020. All other terms and conditions remained unchanged. Effective October 12, 2020, the maturity date for $750 of the Company’s outstanding convertible promissory notes was extended for one year to October 14, 2021. All terms and conditions remained unchanged, except the amended agreement provides that the Company may repay all or any of the amount of outstanding principal and any accrued but unpaid interest, with 14 days’ advance written notice (the “Notice”), as follows: ● with respect to the outstanding principal and any accrued but unpaid interest, in cash, using the Bank of Canada daily US$-C$ exchange rate on the date of the Notice; or ● with respect to the outstanding principal only, provided that the volume weighted average trading price of the Common Shares is C$0.97 or greater for a period of ten consecutive trading days prior to the date of the Notice, and subject to Toronto Stock Exchange approval, by converting all or any portion of the outstanding principal into Common Shares at a conversion rate of C$0.97 per Common Share, using the Bank of Canada daily US$-C$ exchange rate on the date of the Notice. One of the Company’s convertible promissory notes valued at $50 was not extended under the agreement above and was converted into 67,695 Common Shares on October 14, 2020. On March 16, 2021, the remaining convertible notes, with a face value of $750, were converted into 976,921 Common Shares on March 16, 2021. In addition, the Company paid $11 to the noteholders for outstanding interest accrued through the conversion date. The conversion feature of the convertible promissory notes met the definition of a derivative liability instrument because the conversion feature was denominated in a currency other than the Company’s Canadian dollar functional currency and the conversion rate was variable and therefore did not meet the “fixed-for-fixed” criteria outlined in ASC 815-40-15. As a result, the conversion feature of the convertible promissory notes was required to be recorded as a derivative liability recorded at fair value and marked-to-market each period with the changes in fair value each period being charged or credited to income. The remaining balance of the conversion feature was written off at final conversion. Lind IV Convertible Security Funding Convertible Security Balance June 30, 2020 $ 38 Conversions, at fair value (38 ) Balance, June 30, 2021 $ - On June 27, 2018, the Company signed a definitive convertible security funding agreement (the “Lind IV Agreement”) with Lind Asset Management IV, LLC (“Lind IV”). Pursuant to the issuance of a convertible security (the “Lind IV Convertible Security”), a total of $1,000 was funded on July 9, 2018. Upon payment of the $1,000 in funding by Lind IV to the Company, the Lind IV Convertible Security was issued in the amount of $1,200. The remaining balance of the Lind IV Convertible Security was converted to Common Shares on July 9, 2020.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Jun. 30, 2021
Notes Payable [Abstract]
NOTES PAYABLE	8. NOTES PAYABLE As of June 30, 2021 2020 Current Portion: Vendor note $ - $ 166 SBA loan - 92 Total current portion $ - $ 258 Noncurrent Portion: Vendor note $ - $ 240 SBA Loan - 104 Total noncurrent portion $ - $ 344 Vendor Note On April 13, 2020, the Company entered into an agreement with a vendor to convert amounts due for services performed to a 28-month note payable at a stated interest rate of 3%. The Company paid off the remaining note balance of $290 on March 30, 2021. SBA Loan On April 17, 2020, ECRC received a U.S. Small Business Administration Loan (the “SBA Loan”) from American National Bank, pursuant to the Paycheck Protection Program (the “PPP”) established under the Coronavirus Aid, Relief, and Economic Security Act, commonly referred to as the CARES Act, in the amount of $196. Under the terms of the SBA Loan, the Company may be eligible for full or partial loan forgiveness. The unforgiven portion of the SBA Loan is payable over two years at an annual interest rate of 1%, with a deferral of payments for the first six months. The Company used the proceeds for purposes consistent with the PPP. On October 27, 2020, the Company applied for loan forgiveness of $186, comprising the initial SBA Loan balance less $10 representing an Economic Injury Disaster Loan Advance grant (the “EIDL advance”) received by the Company in April 2020. On November 18, 2020, the Company was notified that the $186 loan forgiveness request had been approved and recorded a corresponding gain in other income in the consolidated statement of operations. On December 21, 2020, the U.S. Congress passed the Consolidated Appropriations Act, 2021 (the “Act”), which provided additional COVID-19 relief as well as government funding and other bills. The Act removes the previous requirement that PPP borrowers deduct the amount of any EIDL advance from their PPP forgiveness amount. The SBA released Procedural Notice 5000-20075, effective January 8, 2021, stating that the SBA will no longer deduct EIDL advances from forgiveness payments remitted to PPP lenders. Accordingly, the Company recorded an increase in other income in the consolidated statement of operations for the remaining $10 of the SBA Loan.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
COMMON STOCK	9. COMMON STOCK a) Issuances Fiscal Year 2021 Issuances On May 10, 2021, the Company closed a non-brokered private placement (the “April 2021 Private Placement”) of units of the Company (“Units”). A total of 4,334,157 Units were issued at a price per Unit of C$1.43, for total gross proceeds to the Company of C$6,198. Each Unit issued pursuant to the April 2021 Private Placement consisted of one Common Share and one warrant (“April 2021 Warrant”). Each April 2021 Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$1.63 for a period of two years from the date of issuance. Proceeds of the April 2021 Private Placement will be used for continued advancement of the Elk Creek Project, including ongoing detailed engineering efforts, conducting technical assessments of potentially adding rare earth products to the planned product offering, and for working capital and general corporate purposes. The Company paid cash commissions of C$111 and issued 77,961 broker warrants (having the same terms as the April 2021 Warrants) in connection with the April 2021 Private Placement to brokers outside of the United States. The broker warrants were valued at C$24 using a risk-free rate of 0.28%, expected volatility of 55% and expected life of two years. Fiscal Year 2019 Issuances On September 14, 2018, the Company completed the first tranche closing (the “2018 First Tranche Closing”) of a non-brokered private placement (the “September 2018 Offering”) of Units. The 2018 First Tranche Closing consisted of the issuance of 2,917,587 Units, at a price of C$0.63 per Unit, for gross proceeds of C$1,838. Each Unit issued in connection with the 2018 First Tranche Closing consists of one Common Share and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.75 until September 14, 2020. On September 28, 2018, the Company completed the second and final tranche closing (the “2018 Second Tranche Closing”) of the September 2018 Offering. The 2018 Second Tranche Closing consisted of the issuance of 2,057,571 Units, at a price of C$0.63 per Unit, for gross proceeds of C$1,296. Each Unit issued in connection with the 2018 Second Tranche Closing consists of one Common Share and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.75 until September 28, 2020. Net proceeds from the September 2018 Offering were used by the Company for continued development of NioCorp’s Elk Creek Project and for general corporate purposes. The Company paid cash commissions of C$18 in connection with the September 2018 Offering to brokers outside of the United States. On April 29, 2019, the Company closed the first tranche (the “2019 First Tranche Closing”) of a non-brokered private placement (the “April 2019 Private Placement”) of Units of the Company. In connection with the 2019 First Tranche Closing, a total of 1,666,664 Units were issued at a price per Unit of C$0.60, for total gross proceeds to the Company of approximately C$1,000. On May 9, 2019, the Company closed the second and final tranche of the April 2019 Private Placement (the “2019 Second Tranche Closing”) and a total of 1,290,500 Units were issued at a price per Unit of C$0.60, for total gross proceeds to the Company of approximately C$800. Each Unit issued pursuant to the April 2019 Private Placement consisted of one Common Share and one-half of one Common Share purchase Warrant. Each full Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.72 for a period of two years from their date of issuance. Proceeds from the April 2019 Private Placement will be used for working capital and general corporate purposes. b) Stock Options On November 9, 2017, the Company’s shareholders voted to approve the NioCorp Developments Ltd. Long-Term Incentive Plan (the “Original 2017 Long-Term Incentive Plan”). On November 5, 2020, the Company’s shareholders voted to approve an amendment and restatement of the Original 2017 Long-Term Incentive Plan (the “2017 Amended Long-Term Incentive Plan”) and the granting of incentive securities thereunder until November 5, 2023. The 2017 Amended Long-Term Incentive Plan is substantially similar to the Original 2017 Long-Term Incentive Plan, other than with respect to the following amendments: ● the 2017 Amended Long-Term Incentive Plan removed the restrictions that (i) the number of stock options (“Options”) and share units which may be granted to non-employee directors under the 2017 Amended Long-Term Incentive Plan, in combination with all other equity awards granted to non-employee directors, may not exceed an annual equity award value (based on the grant date fair value as determined by the Company’s Board of Directors (the “Board”)) of C$150 per non-employee director, and (ii) that the total value of Options issuable to any one non-employee director in any one year may not exceed C$100. The 2017 Amended Long-Term Incentive Plan also removed the corresponding amendment provision with respect to amending non-employee director limits; ● the 2017 Amended Long-Term Incentive Plan amended the limit on the number of Common Shares that may be issued or transferred by the Company upon the exercise of Options granted under the 2017 Amended Long-Term Incentive Plan that are intended to qualify as “incentive stock options” under Section 422 of the United States Internal Revenue Code (“Incentive Stock Options”) from 20,451,895 Common Shares to 23,811,009 Common Shares, and such amended limit will increase by 3,000,000 Common Shares on each of the first and second anniversaries of the amended effective date of the 2017 Amended Long-Term Incentive Plan, being November 5, 2021 and November 5, 2022, subject to the plan’s aggregate Common Share limitation; and ● the 2017 Amended Long-Term Incentive Plan includes certain amendments of a housekeeping nature. Under the 2017 Amended Long-Term Incentive Plan, the Board may, in its discretion from time to time, grant Options and share units (in the form of restricted share units and performance share units) to directors, employees and certain other service providers (as defined in the 2017 Amended Long-Term Incentive Plan) of the Company and affiliated entities selected by the Board. Subject to adjustment as described in the 2017 Amended Long-Term Incentive Plan, the aggregate number of Common Shares that may be reserved for issuance to participants under the 2017 Amended Long-Term Incentive Plan, together with all other security-based compensation arrangements of the Company, including with respect to stock options outstanding under the Company’s 2016 Incentive Stock Option Plan, may not exceed 10% of the issued and outstanding Common Shares from time to time, and the Common Shares reserved for issuance upon settlement of share units will not exceed 5% of the issued and outstanding Common Shares from time to time. The 2017 Amended Long-Term Incentive Plan limits the maximum number of Common Shares issued to insiders (as defined under TSX rules for this purpose) within any one-year period, or issuable to insiders at any time, in the aggregate, under all security-based compensation arrangements (including the 2017 Amended Long-Term Incentive Plan) to 10% of the then issued and outstanding Common Shares. The 2017 Amended Long-Term Incentive Plan also limits the aggregate number of Common Shares that may be reserved for issuance to any one participant under the 2017 Amended Long-Term Incentive Plan, together with all other security-based compensation arrangements of the Company, to 5% of the then issued and outstanding Common Shares (on a non-diluted basis). Subject to the adjustment provisions of the 2017 Amended Long-Term Incentive Plan, the aggregate number of Common Shares actually issued or transferred by the Company upon the exercise of Incentive Stock Options will be limited as described above. The Board has power over the granting, amendment, administration or settlement of any award. Stock option transactions are summarized as follows: Number of Weighted Average Balance July 1, 2018 15,587,409 C$0.65 Granted 4,445,000 C$0.54 Exercised (16,203 ) C$0.47 Cancelled/expired (566,297 ) C$0.79 Balance June 30, 2019 19,449,909 C$0.62 Exercised (320,500 ) C$0.62 Balance June 30, 2020 19,129,409 C$0.62 Granted 3,700,000 C$0.78 Exercised (2,952,296 ) C$0.61 Cancelled/expired (3,912,113 ) C$0.64 Balance June 20, 2021 15,965,000 C$0.65 The following table summarizes the information and assumptions used to determine option costs: Year ended June 30, 2021 2020 2019 Fair value per option granted during the period (C$) $ 0.25 - $ 0.21 Risk-free interest rate 0.26% - 2.02% Expected dividend yield 0% - 0% Expected stock price volatility (historical basis) 54.1% - 57.0% Expected option life in years 3.0 - 3.0 The following table summarizes information about stock options outstanding at June 30, 2021: Exercise Expiry Date Number Aggregate Number Aggregate C$0.94 July 21, 2021 540,000 C$410 540,000 C$410 C$0.76 March 6, 2022 4,700,000 4,418 4,700,000 4,418 C$0.47 November 9, 2022 3,205,000 3,942 3,205,000 3,942 C$0.84 September 18, 2023 1,050,000 903 1,050,000 903 C$0.54 November 15, 2023 4,120,000 4,779 4,120,000 4,779 C$0.75 December 14, 2023 1,825,000 1,734 1,825,000 1,734 C$0.75 December 16, 2023 525,000 499 525,000 499 Balance June 30, 2021 15,965,000 C$16,685 15,965,000 C$16,685 The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing stock price of C$1.70 as of June 30, 2021, which would have been received by the option holders had all option holders exercised their options as of that date. The total number of in-the-money options vested and exercisable as of June 30, 2021, was 15,965,000. The total intrinsic value of options exercised during the year ended June 30, 2021, was C$1,333. As of June 30, 2021, there was no unrecognized compensation cost related to unvested share-based compensation arrangements granted. c) Warrants Warrant transactions are summarized as follows: Warrants Weighted Average Balance July1, 2018 28,648,610 C$0.77 Granted: Lind IV warrants 1,035,319 C$0.77 September 2018 private placement 2,487,577 C$0.75 April 2019 private placement 1,478,580 C$0.72 Exercised (115,000) C$0.75 Expired (12,160,285) C$0.74 Balance June 30, 2019 21,374,801 C$0.78 Exercised (664,549) C$0.69 Expired (8,333,801) C$0.86 Balance June 30, 2020 12,376,451 C$0.74 Granted: Nordmin warrants 500,000 C$0.80 Lind III Warrants 8,558,000 C$0.97 April 2021 private placement 4,412,118 C$1.63 Exercised (9,106,283) C$0.75 Expired (2,398,418) C$0.73 Balance June 30, 2021 14,341,868 C$1.16 At June 30, 2021, the Company has outstanding exercisable warrants, as follows: Number Exercise Expiry Date 500,000 C$0.77 July 9, 2021 371,750 C$0.79 July 26, 2021 500,000 C$0.80 December 18, 2022 4,412,218 C$1.63 May 10, 2023 8,558,000 C$0.97 February 19, 2025 14,341,868

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	10. RELATED PARTY TRANSACTIONS AND BALANCES The Company had a loan with Mark Smith, President, Chief Executive Officer (“CEO”) and Executive Chairman of NioCorp (the “Original Smith Loan”), that bore an interest rate of 10%, was secured by the Company’s assets pursuant to a concurrently executed general security agreement (the “General Security Agreement”) and was subject to both a 2.5% establishment fee and 2.5% prepayment fee. On December 14, 2020, the maturity date for the Original Smith Loan was extended to December 15, 2021. On April 30, 2021, the Company repaid $1,000 to Mr. Smith to retire all of the outstanding balance of the Original Smith Loan. During fiscal year 2021, the Company paid a total of $272 representing accrued interest through the retirement date. Mr. Smith waived the prepayment fee in connection with the retirement of the Original Smith Loan. The Company has a non-revolving credit facility agreement (the “Smith Credit Agreement”) with an original amount of $2,000 with Mr. Smith. The Smith Credit Agreement bears an interest rate of 10% and drawdowns from the Smith Credit Agreement are subject to a 2.5% establishment fee. Amounts outstanding under the Smith Credit Agreement are secured by all of the Company’s assets pursuant to the General Security Agreement. The Smith Credit Agreement contains financial and non-financial covenants customary for a facility of its size and nature. On January 17, 2020, the Company entered into an amending agreement to the Smith Credit Agreement, increasing the limit of the non-revolving credit facility to $2,500 from the previous limit of $2,000. On April 3, 2020, the Smith Credit Agreement was amended to increase the limit of the non-revolving credit facility to $3,000 and on June 10, 2020, the Smith Credit Agreement was amended to increase the limit of the non-revolving credit facility to $3,500 and the maturity date for loans made under the Smith Credit Agreement was extended to December 15, 2020. On December 14, 2020, the maturity date for the Smith Credit Agreement was extended to December 15, 2021. On April 30, 2021 and May 4, 2021, the Company repaid $250 and $250, respectively, representing partial repayments on the Smith Credit Agreement. During fiscal year 2021, the Company paid a total of $535 representing accrued interest on the Smith Credit Agreement through April 30, 2021. As of June 30, 2021, the principal amount outstanding under the Smith Credit Agreement is $2,318. Accounts payable and accrued liabilities as of June 30, 2021, include accrued interest of $40 payable to Mr. Smith under the Smith Credit Agreement.

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	12 Months Ended
	Jun. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
EXPLORATION EXPENDITURES	11. EXPLORATION EXPENDITURES For the year ended June 30, 2021 2020 2019 Feasibility study and engineering $ 79 $ 40 $ 2,403 Field management and other 656 985 577 Metallurgical 272 176 164 Geologists and field staff 49 - - Total $ 1,056 $ 1,201 $ 3,144

LEASES

LEASES	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	12. LEASES Effective August 1, 2020, the Company entered into a three-year corporate office lease extension and recognized the corresponding ROU asset and lease liability associated with this lease extension, along with two existing building leases located at the Elk Creek Project. The Company has applied a discount rate of 16%. In connection with the purchase of land, building and mineral rights discussed in Note 5, the Company reversed the remaining ROU asset and lease liability associated with the Elk Creek building leases. There was no gain or loss on this reversal. As of June 30, 2021, the Company has one corporate office lease with a remaining lease term of 2.3 years. During the year ended June 30, 2021, operating cash flows included cash payments of $64 related to the measurement of lease liabilities. The Company incurred lease costs as follows: For the year ended June 30, 2021 2020(1) Operating Lease Cost: Fixed rent expense $ 106 $ 114 Variable rent expense 7 — Short term lease cost 13 12 Sublease income (18 ) (12 ) Net lease cost $ 108 $ 114 Lease cost – other operating expense $ 89 $ 98 Lease cost – exploration expenditures 19 16 Net lease cost $ 108 $ 114 1 Fixed rent expense for fiscal year 2020 represents rental costs associated with contracts with de minimis ROU and lease liability balances. In addition, the Company incurred rent expense of $134 for the year ended June 30, 2019. Fiscal Year 2022 $ 90 2023 92 2024 23 Total lease payments 205 Less amount of payments representing interest (31 ) Present value of lease payments 174 Less current portion of lease liability (69 ) Noncurrent lease liability $ 105

DEFERRED FINANCING COSTS

DEFERRED FINANCING COSTS	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEFERRED FINANCING COSTS	13. DEFERRED FINANCING COSTS During the year ended June 30, 2019, the Company issued an updated feasibility study report on the Elk Creek Project. Due to the nature of changes in the underground mining portion of the technical study, the Company elected to expense deferred legal and other professional fees associated with obtaining project debt financing for the Elk Creek Project and a total of $714 was included in other operating expenses for the year ended June 30, 2019. Future financing-related fees will continue to be expensed until a definitive agreement has been approved by the Board.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	14. INCOME TAXES Domestic and foreign components of loss before income taxes for the years ended June 30, 2020, 2019 and 2018 are as follows: For the year ended June 30, 2021 2020 2019 Canada $ 2,928 $ 2,473 $ 3,622 United States 1,462 1,528 3,714 Total $ 4,390 $ 4,001 $ 7,336 The following table is a reconciliation of income taxes at statutory rates: For the year ended June 30, 2021 2020 2019 Loss before income taxes $ 4,390 $ 4,001 $ 7,336 Combined federal and provincial statutory income tax rate 27% 27% 27% Income tax benefit at statutory tax rates 1,185 1,080 1,981 Foreign rate differential (31 ) (30 ) (71 ) Warrant expense - - (42 ) Share based compensation (212 ) (41 ) (163 ) Change in estimates related to prior years 739 (4 ) 211 Capital loss rate differential 182 - - Change in valuation allowance (1,882 ) (946 ) (1,821 ) Other 19 (59 ) (95 ) Income tax benefit $ - $ - $ - Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of deferred taxes are as follows: As of June 30, 2021 2020 Deferred tax assets Mineral interest $ 8,658 $ 8,393 Net operating losses available for future periods 7,921 6,899 Capital losses available for future periods 643 - Other 54 102 Total deferred tax assets 17,276 15,394 Valuation allowance (17,276 ) (15,394 ) Net deferred tax assets $ - $ - During the year ended June 30, 2021, we identified an error in the recognition of capital losses related to realized mineral property write downs and foreign exchange gains and losses in Canada. This resulted in increases to capital losses available for future periods, net operating loss carryforwards, and other of $660, $61, and $30, respectively, relating to out of period adjustments to deferred tax assets recorded during fiscal year 2021. After evaluation and consideration of the full valuation allowance historically applied against total deferred tax assets, we determined that the impact of the adjustment was not material to the previously issued financial statements, nor are the out of period adjustments material to the estimated results of fiscal year 2021. Changes in the valuation allowance are as follows: For the year ended June 30, 2021 2020 Valuation allowance, beginning of year $ (15,394 ) $ (14,448 ) Current year additions (1,882 ) (946 ) Valuation allowance, end of year $ (17,276 ) $ (15,394 ) The Company establishes a valuation allowance against future income tax assets if, based on available information, it is more likely than not that all of the assets will not be realized. The valuation allowance of $17,276 at June 30, 2021, relates mainly to net operating loss carryforwards in Canada and mineral interest due to deferred exploration expenditures in the United States, where the utilization of such attributes is not more likely than not. The Company has the following cumulative net operating losses for Canadian and U.S. income tax purposes and these carryforwards will generally expire between 2026 and 2041. As a result of the Tax Cuts and Jobs Act of 2017, U.S. tax losses incurred for tax years commencing in 2018 have no expiration. As of June 30, Jurisdiction 2021 2020 Canada $ 28,896 $ 23,258 United States 2,179 1,695 Total $ 31,075 $ 24,953 In addition, the Company has a Canadian capital loss carryforward of $5,102 as of June 30, 2021, which has no expiration date and can be used to offset future capital gains. The Company had no unrecognized tax benefits as of June 30, 2021 or 2020. The Company recognizes interest accrued related to unrecognized tax benefits and penalties in its income tax provision. The Company has not recognized any interest or penalties in the fiscal years presented in these financial statements. The Company is subject to income tax in the U.S. federal jurisdiction and Canada. Certain years remain subject to examination but there are currently no ongoing exams in any taxing jurisdictions. In addition to the PPP loan previously discussed, the CARES Act, among other things, includes provisions related to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. Management believes these provisions of the CARES Act had no material impacts or benefits on our business.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	15. Fair Value Measurements The Company measures the fair value of financial assets and liabilities based on U.S. GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized in income. Financial instruments, including receivables, accounts payable and accrued liabilities, and related party loans are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The following tables present information about the assets and liabilities that are measured at fair value on a recurring basis as at June 30, 2021 and 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical instruments. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the financial instrument, and included situations where there is little, if any, market activity for the instrument: As of June 30, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,317 $ 7,317 $ - $ - Investment in equity securities 16 16 - - Total $ 7,333 $ 7,333 $ - $ - Liabilities $ - $ - $ - $ - As of June 30, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 307 $ 307 $ - $ - Investment in equity securities 7 7 - - Total $ 314 $ 314 $ - $ - Liabilities: Convertible debt $ 38 $ - $ - $ 38 Derivative liability, convertible debt 33 - - 33 Total $ 71 $ - $ - $ 71 The Company measures the fair market value of the Level 3 components using the Black-Scholes model and discounted cash flows, as appropriate. These models were initially prepared by a third party and take into account management’s best estimate of the conversion price of the stock, an estimate of the expected time to conversion, an estimate of the stock’s volatility, and the risk-free rate of return expected for an instrument with a term equal to the duration of the convertible debt. The following table sets forth a reconciliation of changes in the fair value of the Company’s convertible debt components classified as Level 3 in the fair value hierarchy: As of June 30, 2021 2020 2019 Beginning balance $ 71 $ 1,012 $ 4,114 Convertible securities closings - - 1,000 Conversions to equity (38 ) (980 ) (4,582 ) Realized and unrealized gain/loss (33 ) 39 480 Ending balance $ - $ 71 $ 1,012 As discussed in Note 7, the Nordmin Note and Lind III Convertible Security were initially recorded at fair value, which represents a nonrecurring fair value measurement using a Level 3 input. These loans are privately held with no public market for this debt and therefore were initially classified as a Level 3 fair value measurement. The significant unobservable valuation inputs for the Nordmin Note and Lind III Convertible Security included an expected return of 7% and 21%, respectively. At June 30, 2021, the estimated fair value of these instruments approximates carrying value given that the instruments were issued in fiscal 2021 and both have short time periods until maturity.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS On July 23, 2021, the Company repaid $358 to Mr. Smith, representing a partial repayment of $318 on the Smith Credit Agreement (as disclosed in Note 10), plus accrued interest through June 30, 2021.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Exploration Stage Enterprise	a) Exploration Stage Enterprise The Company is in the exploration stage of operation and devotes substantially all of its efforts to acquiring and exploring mining interests that management believes should eventually provide sufficient net profits to sustain the Company’s existence. Until such interests are engaged in commercial production, the Company will continue to seek additional funding to support the completion of its exploration and development activities. The Company’s activities are subject to significant risks and uncertainties, including its ability to secure sufficient funding to continue operations, to obtain proven and probable reserves, to comply with industry regulations and obtain permits necessary for development of the Elk Creek Project, as well as environmental risks and market conditions.
Cash and Cash Equivalents	b) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in banks, investments in certificates of deposit with original maturities of 90 days or less, and money market funds.
Foreign Currency Translation	c) Foreign Currency Translation Functional and reporting currency Items included in the financial statements of each of the Company’s entities are measured using the currency of the primary economic environment in which the entity operates (“the functional currency”). The functional currency of the Company is the Canadian dollar and the functional currency for Elk Creek Resources Corp., a wholly owned subsidiary, is the U.S. dollar. The reporting currency for these consolidated financial statements is U.S. dollars. Transactions in foreign currency Transactions made in a currency other than the functional currency are remeasured to the functional currency at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are remeasured to the functional currency at the exchange rate at that date and non-monetary assets and liabilities are remeasured at historical rates. Foreign currency translation gains and losses are included in profit or loss. Translation to reporting currency The results and financial position of entities that have a functional currency different from the reporting currency are translated into the reporting currency as follows: ● Assets and liabilities for each statement of financial position presented are translated at the closing rate at the end of the reporting date. ● Income and expenses for each statement of income are translated at average exchange rates, unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions. ● All resulting exchange differences are recognized in other comprehensive income.
Mineral Properties	d) Mineral Properties Mineral property acquisition costs, including indirectly related acquisition costs, are capitalized when incurred. Acquisition costs include cash consideration and the fair market value of Common Shares issued as consideration. Properties acquired under option agreements, whereby payments are made at the sole discretion of the Company, are capitalized as mineral property acquisition costs at such time as the payments are made. Exploration costs are expensed as incurred. When it is determined that a mining deposit can be economically and legally extracted or produced based on established proven and probable reserves under the United States Securities and Exchange Commission (“SEC”) Industry Guide 7, development costs related to such reserves and incurred after such determination will be considered for capitalization. The establishment of proven and probable reserves is based on results of feasibility studies, which indicate whether a property is economically feasible. Upon commencement of commercial production, capitalized costs will be amortized over their estimated useful lives or units of production, whichever is a more reliable measure. Capitalized amounts relating to a property that is abandoned or otherwise considered uneconomic for the foreseeable future are written off. The recoverability of the carrying values of mineral properties is dependent upon economic reserves being discovered or developed on the properties, permitting, financing, start-up, and commercial production from, or the sale/lease of, or other strategic transactions related to these properties. Development and/or start-up of a project will depend on, among other things, management’s ability to raise sufficient capital for these purposes. We assess the carrying cost of our mineral properties for impairment whenever information or circumstances indicate the potential for impairment. This would include events and circumstances such as our inability to obtain all the necessary permits, changes in the legal status of our mineral properties, government actions, the results of exploration activities and technical evaluations and changes in economic conditions, including the price of commodities or input prices. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the estimated future undiscounted cash flows are less than the carrying value of the property, an impairment loss will be recorded. Where estimates of future net cash flows are not determinable and where other conditions indicate the potential for impairment, management uses available market information and/or third-party valuation experts to assess if the carrying value can be recovered and to estimate fair value.
Long Lived Assets	e) Long Lived Assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Leases	f) Leases Effective July 1, 2019, we adopted ASC 842, Leases. The impact of this adoption was immaterial. Under ASC 842, we determine if a contractual arrangement is, or contains, a lease at the inception date. Right-of-use (“ROU”) assets and liabilities related to operating leases are separately reported in the consolidated balance sheets. The Company currently has no finance leases. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. When the rate implicit to the lease cannot be readily determined, we utilize our incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that a lessee would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term in a similar economic environment. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease liabilities are increased by interest and reduced by payments each period, and the ROU asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the ROU asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred.
Financial Instruments	g) Financial Instruments The Company’s financial instruments consist of cash, receivables, equity securities, accounts payable and accrued liabilities, convertible debt and the related party loan. It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The fair values of these instruments approximate their carrying value unless otherwise noted.
Concentration of Credit Risk	h) Concentration of Credit Risk The financial instrument which potentially subjects the Company to credit risk is cash and cash equivalents, The Company holds investments or maintains available cash primarily in two commercial banks located in Vancouver, British Columbia and Santa Clara, California. As part of its cash management process, the Company regularly monitors the relative credit standing of these institutions.
Asset Retirement Obligation	i) Asset Retirement Obligation The Company is subject to various government laws and regulations relating to environmental disturbances caused by exploration and evaluation activities. The estimated costs associated with environmental remediation obligations are accrued in the period in which the liability is incurred if it is reasonably estimable or known. Until such time that a project life is established, the Company records the corresponding cost as an exploration stage expense and has accrued $48 related to estimated obligations as of June 30, 2021 (2020 - $48). Future reclamation and environmental-related expenditures are difficult to estimate in many circumstances due to the early-stage nature of the Elk Creek Project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation or remediation technology. The Company periodically reviews accrued liabilities for such reclamation and remediation costs as evidence indicating that the liabilities have potentially changed becomes available. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised.
Income Taxes	j) Income Taxes Income taxes are provided based upon the liability method of accounting pursuant to Accounting Standards Codification (“ASC”) 740-10-25, “Income Taxes – Recognition.”
Basic and Diluted Per Share Disclosure	k) Basic and Diluted Per Share Disclosure Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of Common Shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities. Potentially dilutive shares, such as stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock and when a net loss is reported. The dilutive effect of convertible debt securities is reflected in the diluted earnings (loss) per share calculation using the if-converted method. Conversion of the debt securities is not assumed for purposes of calculating diluted earnings (loss) per share if the effect is anti-dilutive.
Stock Based Compensation	l) Share Based Compensation The Company grants stock options to directors, officers, and employees. Option terms and vesting conditions are at the discretion of the Board of Directors. The option exercise price is equal to the closing market price on the Toronto Stock Exchange on the day preceding the date of grant. The Company estimates the fair value of stock options using the Black-Scholes option pricing model. The Company recognizes forfeitures as they occur.
Recent Accounting Standards	m) Recent Accounting Standards Issued and Adopted In July 2020, NioCorp adopted Accounting Standards Update (“ASU”) 2018-13 – “Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This update modifies the disclosure requirements on fair value measurements in Topic 820 and eliminates ‘at a minimum’ from the phrase ‘an entity shall disclose at a minimum’ to promote the appropriate exercise of discretion by entities when considering fair value disclosures and to clarify that materiality is an appropriate consideration. The adoption of this standard had no impact on the consolidated financial statements. Issued and Not Effective In August 2020, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40),” which simplifies the accounting for convertible instruments. The guidance removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments, requiring bifurcation only if the convertible debt feature qualifies as a derivative or for convertible debt issued at a substantial premium. The ASU removes certain settlement conditions required for equity contracts to qualify for the derivative scope exception, permitting more contracts to qualify for the exception. In addition, the guidance eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The ASU is effective for annual reporting periods beginning after December 15, 2021, including interim reporting periods within those annual periods, with early adoption permitted no earlier than the fiscal year beginning after December 15, 2020. The ASU allows entities to use a modified or full retrospective transition method. Under the modified approach, entities will apply the guidance to all financial instruments that are outstanding as of the beginning of the year of adoption with the cumulative effect recognized as an adjustment to the opening balance of retained earnings. Under the full retrospective method, entities will apply the guidance to all outstanding financial instruments for each prior reporting period presented. The Company will adopt this ASU on July 1, 2022, and is currently evaluating the potential impact of the new guidance on our financial statements. In December 2019, the FASB issued ASU No 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions to the general principles in ASC Topic 740. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company will adopt this ASU on July 1, 2021, and does expect ASU 2019-12 to have a material effect on the Company’s current financial position, results of operations or financial statement disclosures. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC did not or are not believed by management to have a material impact on the Company

BASIS OF PREPARATION (Tables)

BASIS OF PREPARATION (Tables)	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of intercompany transactions and balances	These consolidated financial statements include the accounts of the Company and the subsidiaries listed in the following table. All intercompany transactions and balances have been eliminated. Country of Ownership at June 30, incorporation 2021 2020 0896800 BC Ltd. (“0896800”) Canada 100 % 100 % Elk Creek Resources Corp. (“ECRC”) USA 100 % 100 %

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Jun. 30, 2021
Accounts Payable and Accrued Liabilities, Current [Abstract]
Schedule of account payable and accrued liabilities	As of June 30, Note 2021 2020 Accounts payable, trade $ 163 $ 2,460 Interest payable to related party 10 40 450 Other accruals 205 155 Total accounts payable and accrued liabilities $ 408 $ 3,065

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of convertible debt	As of June 30, 2021 2020 Current Portion: Nordmin note $ 1,123 $ - Convertible promissory notes - 800 Lind IV convertible security - 38 Total current portion $ 1,123 $ 838 Noncurrent Portion: Lind III convertible security $ 6,784 $ -
Schedule of changes in the lind III convertible security	Changes in the Lind III Convertible Security are as follows: Convertible Initial valuation $ 7,765 Conversions (1,600 ) Accretion expense 619 Balance, June 30, 2021 $ 6,784
Schedule of changes in the nordmin convertible note	Changes in the Nordmin Note are as follows: Convertible Note Extinguishment of accounts payable $ 1,740 Conversions (668 ) Accretion expense 51 Balance, June 30, 2021 $ 1,123
Schedule of derivative liability related to the conversion feature	Lind IV Convertible Security Funding Convertible Security Balance June 30, 2020 $ 38 Conversions, at fair value (38 ) Balance, June 30, 2021 $ -

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Payable [Abstract]
Schedule of notes payable	As of June 30, 2021 2020 Current Portion: Vendor note $ - $ 166 SBA loan - 92 Total current portion $ - $ 258 Noncurrent Portion: Vendor note $ - $ 240 SBA Loan - 104 Total noncurrent portion $ - $ 344

COMMON STOCK (Tables)

COMMON STOCK (Tables)	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of stock option	Stock option transactions are summarized as follows: Number of Weighted Average Balance July 1, 2018 15,587,409 C$0.65 Granted 4,445,000 C$0.54 Exercised (16,203 ) C$0.47 Cancelled/expired (566,297 ) C$0.79 Balance June 30, 2019 19,449,909 C$0.62 Exercised (320,500 ) C$0.62 Balance June 30, 2020 19,129,409 C$0.62 Granted 3,700,000 C$0.78 Exercised (2,952,296 ) C$0.61 Cancelled/expired (3,912,113 ) C$0.64 Balance June 20, 2021 15,965,000 C$0.65
Schedule of information and assumptions used to determine option costs	The following table summarizes the information and assumptions used to determine option costs: Year ended June 30, 2021 2020 2019 Fair value per option granted during the period (C$) $ 0.25 - $ 0.21 Risk-free interest rate 0.26% - 2.02% Expected dividend yield 0% - 0% Expected stock price volatility (historical basis) 54.1% - 57.0% Expected option life in years 3.0 - 3.0
Schedule of information about stock options outstanding	The following table summarizes information about stock options outstanding at June 30, 2021: Exercise Expiry Date Number Aggregate Number Aggregate C$0.94 July 21, 2021 540,000 C$410 540,000 C$410 C$0.76 March 6, 2022 4,700,000 4,418 4,700,000 4,418 C$0.47 November 9, 2022 3,205,000 3,942 3,205,000 3,942 C$0.84 September 18, 2023 1,050,000 903 1,050,000 903 C$0.54 November 15, 2023 4,120,000 4,779 4,120,000 4,779 C$0.75 December 14, 2023 1,825,000 1,734 1,825,000 1,734 C$0.75 December 16, 2023 525,000 499 525,000 499 Balance June 30, 2021 15,965,000 C$16,685 15,965,000 C$16,685
Schedule of warrant transactions	Warrant transactions are summarized as follows: Warrants Weighted Average Balance July1, 2018 28,648,610 C$0.77 Granted: Lind IV warrants 1,035,319 C$0.77 September 2018 private placement 2,487,577 C$0.75 April 2019 private placement 1,478,580 C$0.72 Exercised (115,000) C$0.75 Expired (12,160,285) C$0.74 Balance June 30, 2019 21,374,801 C$0.78 Exercised (664,549) C$0.69 Expired (8,333,801) C$0.86 Balance June 30, 2020 12,376,451 C$0.74 Granted: Nordmin warrants 500,000 C$0.80 Lind III Warrants 8,558,000 C$0.97 April 2021 private placement 4,412,118 C$1.63 Exercised (9,106,283) C$0.75 Expired (2,398,418) C$0.73 Balance June 30, 2021 14,341,868 C$1.16
Schedule of outstanding exercisable warrants	At June 30, 2021, the Company has outstanding exercisable warrants, as follows: Number Exercise Expiry Date 500,000 C$0.77 July 9, 2021 371,750 C$0.79 July 26, 2021 500,000 C$0.80 December 18, 2022 4,412,218 C$1.63 May 10, 2023 8,558,000 C$0.97 February 19, 2025 14,341,868

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	12 Months Ended
	Jun. 30, 2021
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Schedule of exploration expenditures	For the year ended June 30, 2021 2020 2019 Feasibility study and engineering $ 79 $ 40 $ 2,403 Field management and other 656 985 577 Metallurgical 272 176 164 Geologists and field staff 49 - - Total $ 1,056 $ 1,201 $ 3,144

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of company incurred lease costs	The Company incurred lease costs as follows: For the year ended June 30, 2021 2020(1) Operating Lease Cost: Fixed rent expense $ 106 $ 114 Variable rent expense 7 — Short term lease cost 13 12 Sublease income (18 ) (12 ) Net lease cost $ 108 $ 114 Lease cost – other operating expense $ 89 $ 98 Lease cost – exploration expenditures 19 16 Net lease cost $ 108 $ 114 1 Fixed rent expense for fiscal year 2020 represents rental costs associated with contracts with de minimis ROU and lease liability balances.
Schedule of maturities of our lease liabilities	The maturity of lease liabilities is as follows at June 30, 2021: Fiscal Year 2022 $ 90 2023 92 2024 23 Total lease payments 205 Less amount of payments representing interest (31 ) Present value of lease payments 174 Less current portion of lease liability (69 ) Noncurrent lease liability $ 105

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of domestic and foreign components of loss before income taxes	Domestic and foreign components of loss before income taxes for the years ended June 30, 2020, 2019 and 2018 are as follows: For the year ended June 30, 2021 2020 2019 Canada $ 2,928 $ 2,473 $ 3,622 United States 1,462 1,528 3,714 Total $ 4,390 $ 4,001 $ 7,336
Schedule of reconciliation of income taxes at statutory rate	The following table is a reconciliation of income taxes at statutory rates: For the year ended June 30, 2021 2020 2019 Loss before income taxes $ 4,390 $ 4,001 $ 7,336 Combined federal and provincial statutory income tax rate 27% 27% 27% Income tax benefit at statutory tax rates 1,185 1,080 1,981 Foreign rate differential (31 ) (30 ) (71 ) Warrant expense - - (42 ) Share based compensation (212 ) (41 ) (163 ) Change in estimates related to prior years 739 (4 ) 211 Capital loss rate differential 182 - - Change in valuation allowance (1,882 ) (946 ) (1,821 ) Other 19 (59 ) (95 ) Income tax benefit $ - $ - $ -
Schedule of components of the deferred taxes	The significant components of deferred taxes are as follows: As of June 30, 2021 2020 Deferred tax assets Mineral interest $ 8,658 $ 8,393 Net operating losses available for future periods 7,921 6,899 Capital losses available for future periods 643 - Other 54 102 Total deferred tax assets 17,276 15,394 Valuation allowance (17,276 ) (15,394 ) Net deferred tax assets $ - $ -
Schedule of changes in the valuation allowance	Changes in the valuation allowance are as follows: For the year ended June 30, 2021 2020 Valuation allowance, beginning of year $ (15,394 ) $ (14,448 ) Current year additions (1,882 ) (946 ) Valuation allowance, end of year $ (17,276 ) $ (15,394
Schedule of operating loss carryforwards	As a result of the Tax Cuts and Jobs Act of 2017, U.S. tax losses incurred for tax years commencing in 2018 have no expiration. As of June 30, Jurisdiction 2021 2020 Canada $ 28,896 $ 23,258 United States 2,179 1,695 Total $ 31,075 $ 24,953

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair values determined by Level 3 inputs are unobservable data	Fair values determined by Level 3 inputs are unobservable data points for the financial instrument, and included situations where there is little, if any, market activity for the instrument: As of June 30, 2021 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,317 $ 7,317 $ - $ - Investment in equity securities 16 16 - - Total $ 7,333 $ 7,333 $ - $ - Liabilities $ - $ - $ - $ - As of June 30, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 307 $ 307 $ - $ - Investment in equity securities 7 7 - - Total $ 314 $ 314 $ - $ - Liabilities: Convertible debt $ 38 $ - $ - $ 38 Derivative liability, convertible debt 33 - - 33 Total $ 71 $ - $ - $ 71
Schedule of reconciliation of changes in the fair value	The following table sets forth a reconciliation of changes in the fair value of the Company’s convertible debt components classified as Level 3 in the fair value hierarchy: As of June 30, 2021 2020 2019 Beginning balance $ 71 $ 1,012 $ 4,114 Convertible securities closings - - 1,000 Conversions to equity (38 ) (980 ) (4,582 ) Realized and unrealized gain/loss (33 ) 39 480 Ending balance $ - $ 71 $ 1,012

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	12 Months Ended
	Jun. 30, 2021Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

BASIS OF PREPARATION (Details)

BASIS OF PREPARATION (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Elk Creek Resources Corp. ("ECRC") [Member]
Percentage of ownership	100.00%	100.00%
0896800 BC Ltd. [Member]
Percentage of ownership	100.00%	100.00%
Elk Creek Resources Corp. ("ECRC") [Member]
Country of incorporation	USA	USA
0896800 BC Ltd. [Member]
Country of incorporation	Canada	Canada

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Accrued exploration stage expense	$ 48	$ 48

GOING CONCERN ISSUES (Details N

GOING CONCERN ISSUES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Sep. 08, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 4,390	$ 4,001	$ 7,336
Accumulated deficit		(94,686)		$ (99,076)
Cash	$ 8,626	$ 307		$ 7,317

MINERAL INTERESTS (Details Narr

MINERAL INTERESTS (Details Narrative) - USD ($) $ in Thousands	Apr. 23, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2016	Jun. 30, 2012
Acquisition of mineral rights		$ 5,468
Acquisition of land and buildings		$ 837
Landholder Agreement [Member] | Elk Creek Resources Corp. ("ECRC") [Member]
Percentage of net smelter return					2.00%
Share Exchange Agreement [Member] | 0896800 BC Ltd. [Member]
Number of shares issued upon finder's fees						1,034,348
Share Exchange Agreement [Member] | Canada, Dollars
Total consideration						$ 13,246
Deferred tax impacts						$ 4,736
Share Exchange Agreement [Member] | Elk Creek Resources Corp. ("ECRC") [Member] | 0896800 BC Ltd. [Member]
Number of shares issued upon acquisition						18,990,539
Option Agreement [Member] | Elk Creek Resources Corp. ("ECRC") [Member]
Purchase price	$ 6,300
Indirect costs	57
Acquisition of mineral rights	5,468
Acquisition of land and buildings	$ 837

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable, trade	$ 163	$ 2,460
Interest payable to related party	40	450
Other accruals	205	155
Total accounts payable and accrued liabilities	$ 408	$ 3,065

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
Nordmin note	$ 1,123
Convertible promissory notes		800
Lind IV convertible security		38
Total current portion	1,123	838
Noncurrent Portion:
Lind III convertible security	$ 6,784

CONVERTIBLE DEBT (Details 1)

CONVERTIBLE DEBT (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Accretion expense	$ 670		$ 44
Convertible Security [Member]
Beginning balance	7,765
Conversions	(1,600)
Accretion expense	619
Ending balance	$ 6,784	$ 7,765

CONVERTIBLE DEBT (Details 2)

CONVERTIBLE DEBT (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Sep. 08, 2021
Accretion expense	$ 670		$ 44
Balance, March 31, 2021		$ 838		$ 1,123
Nordmin Convertible Note [Member]
Extinguishment of accounts payable	1,740
Conversions	(668)
Accretion expense	51
Balance, March 31, 2021	$ 1,123

CONVERTIBLE DEBT (Details 3)

CONVERTIBLE DEBT (Details 3) - Derivative Liability [Member] $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)
Short-term Debt [Line Items]
Balance at beginning	$ 38
Conversions, at fair value	(38)
Balance at ending

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) $ / shares in Units, $ in Thousands

Mar. 16, 2021USD ($)shares

Feb. 19, 2021USD ($)$ / sharesshares

Dec. 18, 2020USD ($)$ / sharesshares

Oct. 14, 2020USD ($)shares

Oct. 12, 2020USD ($)

Jul. 09, 2020USD ($)shares

Jul. 09, 2018USD ($)

Jun. 27, 2018USD ($)

Dec. 31, 2020USD ($)Number$ / sharesshares

Jun. 30, 2021USD ($)$ / sharesshares

Jun. 30, 2020USD ($)

Jun. 30, 2019USD ($)

Oct. 31, 2015USD ($)$ / shares

Loss on extinguishment debt

$ (163)

Loss related to fair value of warrants

$ 1,795

$ 156

Measurement Input, Risk Free Interest Rate [Member]

Measurement of warrants | Number

0.0032

Measurement Input, Expected Dividend Rate [Member]

Measurement of warrants | Number

0

Measurement Input, Price Volatility [Member]

Measurement of warrants | Number

0.4316

Nordmin Convertible Note [Member]

Debt conversion amount

$ 450

Nordmin Convertible Note [Member] | Nordmin Agreement [Member]

Maturity date of convertible notes

Dec. 18, 2022

Oct. 14, 2021

Dec. 18, 2021

Face amount

$ 1,872

Number of warrants issued | shares

500,000

Subscription price

$ 1,804

Implied interest rate

5.00%

Outstanding interest accrued

$ 11

Number of shares issued upon debt conversion | shares

976,921

836,551

67,695

4,500,000

Debt conversion amount

$ 750

$ 450

$ 50

Conversion price (in dollars per share) | $ / shares

$ 0.684

Conversion percentage

92.00%

Exercisable price (in dollars per share) | $ / shares

$ 0.80

Loss on extinguishment debt

$ 163

Loss related to fair value of warrants

$ 63

Warrant term

2 years

Convertible debt at fair value

$ 1,740

Transaction costs

$ 25

Common share (in dollars per share) | $ / shares

$ 1.70

Number of issuance of common share | shares

819,000

Description of change fair value obligated to issue

For each C$0.01 change in the fair value of one Common Share, the total shares the Company would be obligated to issue would change by approximately 4,800 shares.

Convertble notes outstanding

$ 750

Description of advance written notice

● with respect to the outstanding principal and any accrued but unpaid interest, in cash, using the Bank of Canada daily US$-C$ exchange rate on the date of the Notice; or ● with respect to the outstanding principal only, provided that the volume weighted average trading price of the Common Shares is C$0.97 or greater for a period of ten consecutive trading days prior to the date of the Notice, and subject to Toronto Stock Exchange approval, by converting all or any portion of the outstanding principal into Common Shares at a conversion rate of C$0.97 per Common Share, using the Bank of Canada daily US$-C$ exchange rate on the date of the Notice.

Convertible Security [Member] | Lind Asset Management IV, LLC [Member]

Number of shares issued upon debt conversion | shares

64,298

Debt conversion amount

$ 38

Lind III Convertible Security [Member] | Lind Global Asset Management III, LLC [Member]

Face amount

$ 11,700

Funding amount

10,000

Commitment fee

350

Net proceeds from convertible debt

$ 9,650

Debt term

(i) 24 months or (ii) 30 calendar days after the date on which the face value of the Lind III Convertible Security is nil due to such amount having been fully converted and/or fully repaid (including with any applicable premium) in accordance with the terms of the Lind Agreement, whichever is earlier.

Description of liens securing

i) the loan with Mark Smith, President, Chief Executive Officer (“CEO”) and Executive Chairman of NioCorp (the “Smith Loan”), pursuant to the Loan Agreement, dated June 17, 2015, by and between the Company and Mr. Smith, as amended from time to time; and ii) a non-revolving credit facility (the “Smith Credit Facility”) with a limit of $3,500 with Mr. Smith, pursuant to the Credit Facility Agreement, dated January 16, 2017, between the Company and Mr. Smith, as amended from time to time.

Number of common shares issued upon exercise of warrants | shares

43,588,000

Percentage of volume-weighted average price common shares

85.00%

Percentage of convert up to of remaining face amount

33.33%

Number of issued common shares to purchase warrants | shares

8,558,000

Description of allocation of net proceeds

● $1,712 was booked to the Common Stock, representing the fair value of the Lind III Warrants based on the Black Scholes pricing model using a risk-free interest rate of 0.40%, an expected dividend yield of 0%, a volatility of 51.60%, and an expected life of 4.0 years. ● $7,938 was booked to the convertible debt liability. Transaction costs of $173, in addition to a commitment fee of $350, were recognized as a direct deduction from the debt liability, resulting a net opening balance of $7,765. This balance will be accreted up to face value of the Lind III Convertible Security at maturity using the effective interest method and recorded as non-cash interest expense in the consolidated statement of operations.

Implied interest rate

8.50%

Exercisable price (in dollars per share) | $ / shares

$ 0.97

Common share (in dollars per share) | $ / shares

$ 1.26

Number of issuance of common share | shares

13,738,000

Description of change fair value obligated to issue

For each C$0.01 change in the fair value of one Common Share, the total shares the Company would be obligated to issue would change by approximately 110,000 shares.

Convertible Debt [Member] | Non-Brokered Private Placement [Member]

Face amount

$ 800

Interest rate

8.00%

Convertible Debt [Member] | Non-Brokered Private Placement [Member] | Canada, Dollars

Conversion price (in dollars per share) | $ / shares

$ 0.97

Secured Convertible Security [Member] | Canada, Dollars

Face amount

$ 2,000

Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]

Net proceeds from convertible debt

$ 1,000

$ 1,000

Transaction costs

1,200

Debt instrument interest amount

$ 1,000

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2021	Jun. 30, 2020
Total current portion			$ 258
Total noncurrent portion			344
Vendor Note [Member]
Total current portion			166
Total noncurrent portion			240
SBA Loan [Member]
Total current portion			92
Total noncurrent portion			$ 104

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($) $ in Thousands	Jan. 08, 2021	Nov. 18, 2020	Oct. 27, 2020	Apr. 17, 2020	Apr. 13, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Sep. 08, 2021	Apr. 30, 2020
Note payable									$ 6,784
Gain on debt forgiveness						$ 196
Vendor [Member]
Note payable						$ 290
SBA Loan [Member]
Gain on debt forgiveness	$ 10	$ 186	$ 186
SBA Loan [Member] | Paycheck Protection Program [Member]
Loan amount				$ 196
Interest rate				1.00%
Payable term				SBA Loan is payable over two years
SBA Loan [Member] | Economic Injury Disaster Loan Advance (EIDL advance) [Member]
Loan amount										$ 10
SBA Loan [Member] | Paycheck Protection Program [Member]
Donation relief fund				$ 196
Description of debt forgiveness				The unforgiven portion of the SBA Loan is payable over two years at an annual interest rate of 1%, with a deferral of payments for the first six months.
Vendor Note [Member] | Agreement [Member] | Vendor [Member]
Interest rate					3.00%
Payable term					Amounts due for services performed to a 28-month note payable.

COMMON STOCK (Details)

COMMON STOCK (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Number of Options
Balance at beginning	19,129,409	19,449,909	15,587,409
Granted	3,700,000		4,445,000
Exercised	(2,952,296)	(320,500)	(16,203)
Cancelled/expired	(3,912,113)		(566,297)
Balance at end		19,129,409	19,449,909
Canada, Dollars
Weighted Average Exercise Price
Balance at beginning	$ 0.62	$ 0.62	$ 0.65
Granted	0.78		0.54
Exercised	0.61	0.62	0.47
Cancelled/expired	0.64		0.79
Balance at end	$ 0.65	$ 0.62	$ 0.62

COMMON STOCK (Details 1)

COMMON STOCK (Details 1)	12 Months Ended
	Jun. 30, 2021$ / shares	Jun. 30, 2020$ / shares	Jun. 30, 2019$ / shares
Risk-free interest rate	0.26%		2.02%
Expected dividend yield	0.00%		0.00%
Expected stock price volatility (historical basis)	54.10%		57.00%
Expected option life in years	3 years		3 years
Canada, Dollars
Fair value per option granted during the period (C$) | (per share)	$ 0.25		$ 0.21

COMMON STOCK (Details 2)

COMMON STOCK (Details 2) - CAD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Sep. 08, 2021
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding		15,965,000
Number exercisable		15,965,000
Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 16,685
Aggregate Intrinsic Value	$ 16,685
Exercise Price C$0.94 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Jul. 21, 2021
Number of outstanding	540,000
Number exercisable	540,000
Exercise Price C$0.94 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 410
Aggregate Intrinsic Value	$ 410
Exercise Price C$0.76 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Mar. 6, 2022
Number of outstanding	4,700,000
Number exercisable	4,700,000
Exercise Price C$0.76 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 4,418
Aggregate Intrinsic Value	$ 4,418
Exercise Price C$0.47 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Nov. 9, 2022
Number of outstanding	3,205,000
Number exercisable	3,205,000
Exercise Price C$0.47 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 3,942
Aggregate Intrinsic Value	$ 3,942
Exercise Price C$0.84 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Sep. 18, 2023
Number of outstanding	1,050,000
Number exercisable	1,050,000
Exercise Price C$0.84 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 903
Aggregate Intrinsic Value	$ 903
Exercise Price C$0.54 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Nov. 15, 2023
Number of outstanding	4,120,000
Number exercisable	4,120,000
Exercise Price C$0.54 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 4,779
Aggregate Intrinsic Value	$ 4,779
Exercise Price C$0.75 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 14, 2023
Number of outstanding	1,825,000
Number exercisable	1,825,000
Exercise Price C$0.75 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 1,734
Aggregate Intrinsic Value	$ 1,734
Exercise Price C$0.75 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 16, 2023
Number of outstanding	525,000
Number exercisable	525,000
Exercise Price C$0.75 [Member] | Canada, Dollars
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value	$ 499
Aggregate Intrinsic Value	$ 499

COMMON STOCK (Details 3)

COMMON STOCK (Details 3) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Balance, at beginning	12,376,451	21,374,801	28,648,610
Granted:
Nordmin warrants	500,000
Lind III Warrants	8,558,000
Lind IV warrants			1,035,319
September 2018 private placement			2,487,577
April 2019 private placement			1,478,580
April 2021 private placement	4,412,118
Exercised	(9,106,283)	(664,549)	(115,000)
Expired	(2,398,418)	(8,333,801)	(12,160,285)
Balance, at ending		12,376,451	21,374,801
Canada, Dollars
Granted:
Balance at beginning	$ 0.74	$ 0.78	$ 0.77
Granted:
Nordmin warrants	0.80
Lind III Warrants	0.97
Lind IV warrants			0.77
September 2018 private placement			0.75
April 2019 private placement			0.72
April 2021 private placement	1.63
Exercised	0.75	0.69	0.75
Expired	0.73	0.86	0.74
Balance at ending	$ 1.16	$ 0.74	$ 0.78

COMMON STOCK (Details 4)

COMMON STOCK (Details 4) - $ / shares	12 Months Ended
	Jun. 30, 2021	Sep. 08, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Class of Warrant or Right [Line Items]
Number		14,341,868	12,376,451	21,374,801	28,648,610
Exercise Price C$0.77 [Member]
Class of Warrant or Right [Line Items]
Number	500,000
Warrant exercise price (in dollars per share)	$ 0.77
Expiry Date	Jul. 9, 2021
Exercise Price C$0.79 [Member]
Class of Warrant or Right [Line Items]
Number	371,750
Warrant exercise price (in dollars per share)	$ 0.79
Expiry Date	Jul. 26, 2021
Exercise Price C$0.80 [Member]
Class of Warrant or Right [Line Items]
Number	500,000
Warrant exercise price (in dollars per share)	$ 0.80
Expiry Date	Dec. 18, 2022
Exercise Price C$1.63 [Member]
Class of Warrant or Right [Line Items]
Number	4,412,218
Warrant exercise price (in dollars per share)	$ 1.63
Expiry Date	May 10, 2023
Exercise Price C$0.97 [Member]
Class of Warrant or Right [Line Items]
Number	8,558,000
Warrant exercise price (in dollars per share)	$ 0.97
Expiry Date	Feb. 19, 2025

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) $ / shares in Units, $ in Thousands, $ in Thousands

May 10, 2021CAD ($)$ / sharesshares

May 09, 2019CAD ($)$ / sharesshares

Apr. 29, 2019CAD ($)$ / sharesshares

Nov. 09, 2018shares

Sep. 28, 2018CAD ($)$ / sharesshares

Sep. 14, 2018CAD ($)shares

Jun. 30, 2021USD ($)

Jun. 30, 2021CAD ($)$ / sharesshares

Jun. 30, 2019USD ($)

Sep. 08, 2021shares

Sep. 14, 2019$ / shares

Nov. 09, 2017CAD ($)

Fair value of Broker Warrants

$ 1,795

$ 156

Number of outstanding | shares

15,965,000

Non-Brokered Private Placement [Member] | Canada, Dollars

Number of units issued | shares

4,334,157

Unit price (in dollars per unit) | $ / shares

$ 1.43

Additional unit price (in dollars per unit) | $ / shares

$ 1.63

Gross proceeds from units issued

$ 6,198

Expected life

2 years

Non-Brokered Private Placement [Member] | Canada, Dollars | Warrant [Member]

Number of units issued | shares

77,961

Gross proceeds from units issued

$ 24

Cash commissions paid

$ 111

Risk free interest rate

0.28%

Volatility

55.00%

Expected life

2 years

Non-Brokered Private Placement [Member] | Tranche One [Member] | Canada, Dollars

Number of units issued | shares

1,666,664

2,917,587

Unit price (in dollars per unit) | $ / shares

$ 0.60

$ 0.63

Additional unit price (in dollars per unit) | $ / shares

$ 0.75

Gross proceeds from units issued

$ 1,000

$ 1,838

Broker warrant exercise date

Sep. 14, 2020

Non-Brokered Private Placement [Member] | Tranche Second [Member] | Canada, Dollars

Number of units issued | shares

1,290,500

2,057,571

Unit price (in dollars per unit) | $ / shares

$ 0.60

$ 0.63

Additional unit price (in dollars per unit) | $ / shares

$ 0.72

$ 0.75

Gross proceeds from units issued

$ 800

$ 1,296

Cash commissions paid

$ 18

Broker warrant exercise date

Sep. 28, 2020

Long-Term Incentive Plan [Member] | Non-Employee Director [Member]

Maximum number of shares issued upon the exercise of options | shares

20,451,895

Description of amended plan

from 20,451,895 Common Shares to 23,811,009 Common Shares, and such amended limit will increase by 3,000,000 Common Shares on each of the first and second anniversaries of the amended effective date of the 2017 Amended Long-Term Incentive Plan, being November 5, 2021 and November 5, 2022, subject to the plan’s aggregate Common Share limitation

Long-Term Incentive Plan [Member] | Non-Employee Director [Member] | Canada, Dollars

Shares issued value

$ 150

Shares issued within one year value

$ 100

Stock option Plan [Member] | Canada, Dollars

Share price (in dollars per share) | $ / shares

$ 1.70

Number of vested and exercisable options | shares

15,965,000

Total intrinsic value options exercised

$ 1,333

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	Dec. 14, 2020	May 04, 2020	Apr. 30, 2020	Jan. 17, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Apr. 30, 2021	Jun. 10, 2020	Apr. 03, 2020
Related party debt repayment					$ 1,500
Mark A. Smith [Member]
Maturity date				Dec. 15, 2020
Mark A. Smith [Member] | Maximum [Member]
Non-revolving credit facility				$ 2,500					$ 3,500	$ 3,000
Mark A. Smith [Member] | Minimum [Member]
Non-revolving credit facility				$ 2,000
Mark A. Smith [Member] | Non Revolving Line Of Credit [Member]
Principal amount outstanding					$ 2,318
Credit facility interest rate (in dollars per share)					10.00%
Non-Revolving Credit Facility Agreement [Member] | Mark A. Smith [Member]
Interest payable					$ 40
Non-revolving credit facility					$ 2,000
Establishment fee						2.50%
Description of collateral						The Credit Agreement bears an interest rate of 10% and drawdowns from the Credit Agreement are subject to a 2.5% establishment fee. Amounts outstanding under the Credit Agreement are secured by all of the Company's assets pursuant to the General Security Agreement.
Non-Revolving Credit Facility Agreement [Member] | Mark A. Smith [Member] | Smith Loans [Member]
Description of fees associated with providing collateral for the credit facility					The Company had a loan with Mark Smith, President, Chief Executive Officer (“CEO”) and Executive Chairman of NioCorp (the “Original Smith Loan”), that bore an interest rate of 10%, was secured by the Company’s assets pursuant to a concurrently executed general security agreement (the “General Security Agreement”) and was subject to both a 2.5% establishment fee and 2.5% prepayment fee.
Principal amount outstanding								$ 1,000
Maturity date	Dec. 15, 2021
Smith Credit Agreement [Member]
Related party debt repayment		$ 250	$ 250		$ 535

EXPLORATION EXPENDITURES (Detai

EXPLORATION EXPENDITURES (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Total	$ 1,056	$ 1,201	$ 3,144
Feasibility Study and Engineering [Member]
Total	79	40	2,403
Field Management and Other [Member]
Total	656	985	577
Metallurgical [Member]
Total	272	176	164
Geologists and Field Staff [Member]
Total	$ 49

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	[1]
Operating Lease Cost:
Fixed rent expense	$ 106	$ 114
Variable rent expense	7
Short term lease cost	13	12
Sublease income	(18)	(12)
Net lease cost	108	114
Lease cost - other operating expense	89	98
Lease cost - exploration expenditures	19	16
Net lease cost	$ 108	$ 114
[1]	Fixed rent expense for fiscal year 2020 represents rental costs associated with contracts with de minimis ROU and lease liability balances.

LEASES (Details 1)

LEASES (Details 1) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Leases [Abstract]
2022	$ 90
2023	92
2024	23
Total lease payments	205
Less amount of payments representing interest	(31)
Present value of lease payments	174
Less current portion of lease liability	69
Noncurrent lease liability	$ 105

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2019	Sep. 08, 2021
Discount rate	16.00%
Operating lease term			2 years 3 months 18 days
Operating cash flow	$ 64
Rent expense		$ 134
Corporate Office [Member ]
Lease option to extend	A three-year corporate office lease extension and recognized the corresponding right of use asset and lease liability associated with this lease extension, along with two existing nominal leases

DEFERRED FINANCING COSTS (Detai

DEFERRED FINANCING COSTS (Details Narrative) $ in Thousands	12 Months Ended
	Jun. 30, 2019USD ($)
Elk Creek Project [Member]
Other operating expenses	$ 714

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Total	$ 4,390	$ 4,001	$ 7,336
Canada [Member]
Total	2,928	2,473	3,622
United States [Member]
Total	$ 1,462	$ 1,528	$ 3,714

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Loss before income taxes	$ 4,390	$ 4,001	$ 7,336
Combined federal and provincial statutory income tax rate	27.00%	27.00%	27.00%
Income tax benefit at statutory tax rates	$ 1,185	$ 1,080	$ 1,981
Foreign rate differential	(31)	(30)	(71)
Warrant expense			(42)
Share based compensation	(212)	(41)	(163)
Change in estimates related to prior years	739	(4)	211
Capital loss rate differential	182
Change in valuation allowance	(1,882)	(946)	(1,821)
Other	19	(59)	(95)
Income tax benefit

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2020
Deferred tax assets
Mineral interest	$ 8,658	$ 8,393
Net operating losses available for future periods	7,921	6,899
Capital losses available for future periods	643
Other	54	102
Total deferred tax assets	17,276	15,394
Valuation allowance	(17,276)	(15,394)
Net deferred tax assets

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Valuation allowance, beginning of year	$ (15,394)	$ (14,448)
Current year additions	$ (1,882)	(946)
Valuation allowance, end of year		$ (15,394)

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Thousands	Sep. 08, 2021	Jun. 30, 2021	Jun. 30, 2020
Total	$ 31,075		$ 24,953
Canada [Member]
Total		$ 28,896	23,258
United States [Member]
Total		$ 2,179	$ 1,695

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Sep. 08, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Valuation allowance		$ (17,276)	$ (15,394)
Capital loss caryforward		5,102
Increases in capital losses available for future periods		660
Net operating loss carryforwards		$ 61
Other income taxes	$ 30

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Assets:
Cash and cash equivalents	$ 7,317	$ 307
Investment in equity securities	16	7
Total	7,333	314
Liabilities:
Convertible debt		38
Derivative liability, convertible debt		33
Total		71
Level 1 [Member]
Assets:
Cash and cash equivalents	7,317	307
Investment in equity securities	16	7
Total	7,333	314
Liabilities:
Convertible debt
Derivative liability, convertible debt
Total
Level 2 [Member]
Assets:
Cash and cash equivalents
Investment in equity securities
Total
Liabilities:
Convertible debt
Derivative liability, convertible debt
Total
Level 3 [Member]
Assets:
Cash and cash equivalents
Investment in equity securities
Total
Liabilities:
Convertible debt		38
Derivative liability, convertible debt		33
Total		$ 71

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details 1) - Level 3 [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 71	$ 1,012	$ 4,114
Convertible securities closings			1,000
Conversions to equity	(38)	(980)	(4,582)
Realized and unrealized gain/loss	(33)	39	480
Ending balance		$ 71	$ 1,012

FAIR VALUE MEASUREMENTS (Deta_3

FAIR VALUE MEASUREMENTS (Details Narrative)	12 Months Ended
	Jun. 30, 2021
Nordmin Convertible Note [Member]
Expected return percentage	7.00%
Lind III Convertible Security [Member]
Expected return percentage	21.00%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Mark A. Smith [Member] - Subsequent Event [Member] $ in Thousands	Jul. 23, 2021USD ($)
Subsequent Event [Line Items]
Purchase price of assets	$ 358
Smith Credit Agreement [Member]
Subsequent Event [Line Items]
Partial repayments	$ 318