NioCorp Developments (NB) 10-K 6 Sep 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2022	Sep. 06, 2022	Dec. 31, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	000-55710
Entity Registrant Name	NioCorp Developments Ltd.
Entity Central Index Key	0001512228
Entity Tax Identification Number	98-1262185
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	7000 South Yosemite Street
Entity Address, Address Line Two	Suite 115
Entity Address, City or Town	Centennial
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	855
Local Phone Number	264-6267
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	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	false
Entity Shell Company	false
Entity Public Float			$ 245,400,000
Entity Common Stock, Shares Outstanding		278,127,688
Auditor Name	BDO USA LLP
Auditor Location	Spokane, Washington
Auditor Firm ID	243

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current
Cash	$ 5,280	$ 7,317
Prepaid expenses and other	402	24
Total current assets	5,682	7,341
Non-current
Deposits	35	35
Investment in equity securities	10	16
Right-of-use assets	94	156
Land and buildings, net	850	837
Mineral properties	16,085	16,085
Total assets	22,756	24,470
Current
Accounts payable and accrued liabilities	817	408
Related party loan	2,000	2,318
Convertible debt, current portion	796	1,123
Operating lease liability	82	69
Total current liabilities	3,695	3,918
Non-current
Convertible debt, net of current		6,784
Operating lease liability	23	105
Total liabilities	3,718	10,807
SHAREHOLDERS’ EQUITY
Common stock, no par value, unlimited shares authorized; shares outstanding: 276,670,606 at June 30, 2022 and 256,379,931 at June 30, 2021	129,055	113,882
Accumulated deficit	(109,005)	(99,076)
Accumulated other comprehensive loss	(1,012)	(1,143)
Total shareholder equity	19,038	13,663
Total liabilities and equity	$ 22,756	$ 24,470

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0	$ 0
Common stock, authorized	Unlimited	Unlimited
Common stock, shares outstanding	276,670,606	256,379,931

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating expenses
Employee related costs	$ 2,150	$ 1,655	$ 1,376
Professional fees	684	386	327
Exploration expenditures	3,309	1,056	1,201
Other operating expenses	1,653	995	528
Total operating expenses	7,796	4,092	3,432
Change in financial instrument fair value		(32)	38
Other income		(208)
Loss on debt extinguishment		163
Foreign exchange loss (gain)	221	(729)	179
Interest expense	1,906	1,113	354
Loss (gain) on equity securities	6	(9)	(2)
Loss before income taxes	9,929	4,390	4,001
Income tax benefit
Net loss	9,929	4,390	4,001
Other comprehensive (gain) loss:
Reporting currency translation	(131)	788	(171)
Total comprehensive loss	$ 9,798	$ 5,178	$ 3,830
Loss per common share, basic and diluted	$ 0.04	$ 0.02	$ 0.02
Weighted average common shares outstanding	263,737,227	241,967,116	234,610,126

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Total loss for the period	$ (9,929)	$ (4,390)	$ (4,001)
Adjustments for:
Noncash lease activity	(7)	30
Change in financial instrument fair value		(32)	38
Depreciation	3
Unrealized loss (gain) on equity securities	6	(9)	(2)
Accretion of convertible debt	1,696	670
Foreign exchange loss (gain)	294	(665)	144
Gain on debt forgiveness		(196)
Loss on debt extinguishment		163
Share-based compensation	1,745	797	153
Total	(6,192)	(3,632)	(3,668)
Change in working capital items:
Prepaid expenses	(377)	9	40
Accounts payable and accrued liabilities	419	(1,103)	579
Net cash used in operating activities	(6,150)	(4,726)	(3,049)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of mineral rights		(5,468)
Acquisition of land and buildings	(16)	(837)
Net cash used in investing activities	(16)	(6,305)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of capital stock	4,737	10,677	470
Share issue costs	(118)	(174)
Issuance of convertible debt, net of costs		9,477
Loan repayments		(406)
Related party debt draws			2,338
Related party debt repayments	(318)	(1,500)
Long term debt funding			196
Net cash provided by financing activities	4,301	18,074	3,004
Exchange rate effect on cash and cash equivalents	(172)	(33)	(5)
Change in cash and cash equivalents during period	(2,037)	7,010	(50)
Cash and cash equivalents, beginning of period	7,317	307	357
Cash and cash equivalents, end of period	5,280	7,317	307
Supplemental cash flow information:
Amounts paid for interest	252	873	64
Amounts paid for income taxes
Non-cash investing and financing transactions:
Conversion of debt for common shares	8,807	3,106	980
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

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Jun. 30, 2019	$ 96,063	$ (90,685)	$ (526)	$ 4,852
Beginning balance (in shares) at Jun. 30, 2019	232,496,215
Exercise of warrants	$ 338			338
Exercise of warrants (in shares)	664,549
Exercise of options	$ 148			$ 148
Exercise of options (in shares)	320,500			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 year		(4,001)		(4,001)
Ending balance, value at Jun. 30, 2020	$ 97,682	(94,686)	(355)	2,641
Ending balance (in shares) at Jun. 30, 2020	235,925,684
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			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)	4,334,157,000
Share issuance costs	$ (175)			(175)
Debt conversions	$ 3,106			3,106
Debt conversions (in shares)	4,061,511
Share-based compensation	$ 797			797
Reporting currency presentation			(788)	(788)
Loss for the year		(4,390)		(4,390)
Ending balance, value at Jun. 30, 2021	$ 113,882	(99,076)	(1,143)	$ 13,663
Ending balance (in shares) at Jun. 30, 2021	256,379,931			256,379,931
Exercise of warrants	$ 543			$ 543
Exercise of warrants (in shares)	871,750
Exercise of options	$ 483			$ 483
Exercise of options (in shares)	2,051,533			2,051,533
Fair value of warrants granted	$ 14			$ 14
Share issuance costs	(130)			(130)
Debt conversions	$ 8,807			8,807
Debt conversions (in shares)	12,386,357
Share-based compensation	$ 1,745			1,745
Reporting currency presentation			131	131
Private placement – June 2022	3,711			3,711
Loss for the year		(9,929)		(9,929)
Private placement may 2022	4,981,035
Ending balance, value at Jun. 30, 2022	$ 129,055	$ (109,005)	$ (1,012)	$ 19,038
Ending balance (in shares) at Jun. 30, 2022	276,670,606			276,670,606

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2022
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 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, 2022
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. Schedule of intercompany transactions and balances Country of incorporation Ownership at June 30, 2022 2021 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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	3. SIGNIFICANT ACCOUNTING POLICIES a) Development Stage Issuer The Company is considered to be a development stage issuer under Subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (“ S-K 1300”), and it 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 S-K 1300, and the Board of Directors has approved the commencement of formal development activities, development costs related to such reserves and incurred after such board approval 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. There was no impairment recorded to mineral properties as of June 30, 2022 or 2021, respectively. e) Long Lived Assets Long-lived assets, other than mineral properties, 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. There was no impairment recorded to long-lived assets as of June 30, 2022 or 2021, respectively. f) Leases Under Accounting Standards Codification (“ASC”) 842, “Leases,” 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 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 ASC 740-10-25, “Income Taxes – Recognition.” k) Basic and Diluted Per Share Disclosure Basic net loss per share is computed by dividing net loss by the weighted average number of Common Shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of Common Share equivalents outstanding for the period determined using the treasury stock method or the if-converted method, as applicable. For purposes of this calculation, options to purchase Common Shares (“Options”) and warrants to purchase Common Shares (“Warrants”) are considered to be Common Share equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying Options, Warrants, and outstanding convertible debt were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the years ended June 30, 2022, 2021, and 2020, as indicated below. Schedule of excluded from the dilutive securities As of June 30, Excluded potentially dilutive securities (1) 2022 2021 2020 Options 14,464,000 15,965,000 19,129,409 Warrants 18,516,253 14,341,868 12,376,451 Convertible debt 4,152,000 14,557,000 1,144,773 Total potential dilutive securities 37,132,253 44,863,868 32,650,633 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were 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 December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 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 adopted ASU 2019-12 on July 1, 2021, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective In August 2020, 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)” (“ASU 2020-06”), which simplifies the accounting for convertible instruments. ASU 2020-06 removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. Either a modified retrospective method of transition or a fully retrospective method of transition is permissible for the adoption of this standard. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company will adopt ASU 2020-06 on July 1, 2022, and this adoption will not have any 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.

GOING CONCERN ISSUES

GOING CONCERN ISSUES	12 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN ISSUES	4. GOING CONCERN ISSUES The Company incurred a loss of $ 9,929 4,390 4,001 109,005 5,280 The Company’s ability to continue operations and fund its expenditures, which have historically averaged approximately $1,160 per quarter, is dependent on management’s ability to secure additional financing. Management is actively pursuing 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. The Company did not have any further funding commitments or arrangements for additional financing as of June 30, 2022. 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”) pandemic and subsequent COVID-19 variants. In addition, recent worldwide events have created general global economic uncertainty as well as uncertainty in capital markets, supply chain disruptions, increased interest rates, and the potential for geographic recessions. 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. 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.

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Jun. 30, 2022
Extractive Industries [Abstract]
MINERAL PROPERTIES	5. MINERAL PROPERTIES 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 1,034,348 13,246 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 57 837 5,468 In addition to the land and mineral rights currently owned by the Company, the property interests of Elk Creek include eight 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

LAND AND BUILDINGS, NET

LAND AND BUILDINGS, NET	12 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
LAND AND BUILDINGS, NET	6. LAND AND BUILDINGS, NET Schedule of properties As of June 30, 2022 2021 Cost Accumulated Depreciation Net Cost Accumulated Depreciation Net Land $ 811 $ - $ 811 $ 811 $ - $ 811 Buildings and other 45 6 39 29 3 26 $ 856 $ 6 $ 850 $ 840 $ 3 $ 837

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities As of June 30, 2022 2021 Accounts payable, trade $ 115 $ 163 Trade payable accruals 654 157 Environmental accruals 48 48 Interest payable to related party (see Note 10) - 40 Total accounts payable and accrued liabilities $ 817 $ 408

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	8. CONVERTIBLE DEBT Schedule of convertible debt As of June 30, 2022 2021 Current Portion: Lind III convertible security $ 796 $ - Nordmin note - 1,123 Total current portion $ 796 $ 1,123 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 8.5 350 9,650 The Lind III Convertible Security has a term of (i) 24 months 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 Agreement”) with a limit of $ 3,500 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 On February 19, 2021, in connection with the funding and issuance of the Lind III Convertible Security, the Company issued 8,558,000 0.97 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, 2022. The Company allocated the net proceeds of $ 9,477 ● $1,712 was allocated 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 0 51.60 4.0 ● $7,938 was allocated to the convertible debt liability. Transaction costs of $ 173 350 Based on the Company’s closing Common Share price of C$ 0.90 4,152,000 0.01 Company would be obligated to issue would change by approximately 47,000 shares. Changes in the Lind III Convertible Security are as follows: For the year ending June 30, 2022 2021 Beginning balance $ 6,784 $ 7,765 Conversions (7,635 ) (1,600 ) Accretion expense 1,647 619 Balance, end of period $ 796 $ 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 Nordmin Note On December 18, 2020, the Company issued a convertible note in the principal amount of approximately $ 1,872 500,000 1,804 The Nordmin Note matured on December 18, 2021, and had no stated interest rate, an implied interest rate of 5 Pursuant to the terms of the Nordmin Agreement, on December 18, 2020, the Company issued 836,551 450 0.684 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 0.32 0 43.16 2.0 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 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 Conversions (1,172 ) Accretion expense 49 Balance, June 30, 2022 -

COMMON STOCK

COMMON STOCK	12 Months Ended
	Jun. 30, 2022
Equity [Abstract]
COMMON STOCK	9. COMMON STOCK a) Issuances Fiscal Year 2022 Issuances On June 30, 2022, the Company closed a non-brokered private placement (the “June 2022 Private Placement”) of units (the “Units”) of the Company. A total of 4,981,035 0.96 4.8 million 1.10 62 65,100 18 3.2 64 two 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. A total of 4,334,157 1.43 6,198 1.63 two 111 77,961 24 0.28 55 two b) Stock Options On November 5, 2020, the Company’s shareholders voted to approve an amendment and restatement of its long term incentive plan (the “2017 Amended Long-Term Incentive Plan”) and the granting of incentive securities thereunder until November 5, 2023. 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, 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 Board has power over the granting, amendment, administration or settlement of any award. Stock option transactions are summarized as follows: Number of Options Weighted Average Exercise Price Balance July 1, 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 30, 2021 15,965,000 C$0.65 Granted 4,475,000 C$1.33 Exercised (2,051,533 ) C$0.70 Cancelled/expired (3,924,467 ) C$0.77 Balance June 30, 2022 14,464,000 C$0.83 The following table summarizes the weighted average information and assumptions used to determine option costs: Schedule of information and assumptions used to determine option costs Year ended June 30, 2022 2021 2020 Fair value per option granted during the period (C$) $ 0.49 $ 0.25 - Risk-free interest rate 1.33 % 0.26 % - Expected dividend yield 0 % 0 % - Expected stock price volatility (historical basis) 54.4 % 54.1 % - Expected option life in years 3.0 3.0 - The following table summarizes information about stock options outstanding at June 30, 2022: Schedule of information about stock options outstanding Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$0.47 November 9, 2022 2,804,000 C$1,206 2,804,000 C$1,206 C$0.84 September 18, 2023 1,050,000 63 1,050,000 63 C$0.54 November 15, 2023 3,785,000 1,362 3,785,000 1,362 C$0.75 December 14, 2023 1,825,000 274 1,825,000 274 C$0.75 December 16, 2023 525,000 79 525,000 79 C$1.36 December 17, 2024 3,975,000 - 3,975,000 - C$1.10 May 30, 2025 500,000 - 500,000 - Balance June 30, 2022 14,464,000 C$2,984 14,464,000 C$2,984 The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing stock price of C$ 0.90 9,989,000 was C$ 973 As of June 30, 2022, there was no unrecognized compensation cost related to unvested share-based compensation arrangements granted. c) Warrants Warrant transactions are summarized as follows: Schedule of warrant transactions Warrants Weighted Average Exercise Price Balance July 1, 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 Granted: June 2022 private placement 5,046,135 C$1.10 Exercised (871,750 ) C$0.78 Balance June 30, 2022 18,516,253 C$1.16 At June 30, 2022, the Company has outstanding exercisable warrants, as follows: Schedule of outstanding exercisable warrants Number Exercise Price Expiry Date 500,000 C$0.80 December 18, 2022 4,412,118 C$1.63 May 10, 2023 5,046,135 C$1.10 June 30, 2024 8,558,000 C$0.97 February 19, 2025 18,516,253

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Jun. 30, 2022
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 2.5 1,000 272 The Company has a non-revolving credit facility agreement (the “Smith Credit Agreement”) with an original amount of $ 2,000 2.5 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 3,000 3,500 Changes in the Smith Credit Agreement principal balance are as follows: Schedule of related party balances For the year ending June 30, 2022 2021 Beginning balance $ 2,318 $ 3,818 Repayments (318 ) ( 1,500 ) Balance, end of period $ 2,000 $ 2,318 During fiscal year 2022 and 2021, the Company paid a total of $ 535 252 Accounts payable and accrued liabilities as of June 30, 2022, include nil accrued interest payable to Mr. Smith under the Smith Credit Agreement.

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	12 Months Ended
	Jun. 30, 2022
Exploration Expenditures
EXPLORATION EXPENDITURES	11. EXPLORATION EXPENDITURES Schedule of exploration expenditures For the year ended June 30, 2022 2021 2020 Feasibility study and engineering $ 334 $ 79 $ 40 Field management and other 569 656 985 Metallurgical 2,218 272 176 Geologists and field staff 188 49 - Total $ 3,309 $ 1,056 $ 1,201

LEASES

LEASES	12 Months Ended
	Jun. 30, 2022
Leases
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. 16 As of June 30, 2022, the Company has one corporate office lease with a remaining lease term of 1.3 90 64 The Company incurred lease costs as follows: For the year ended June 30, 2022 2021 2020 1 Operating Lease Cost: Fixed rent expense $ 83 $ 106 $ 114 Variable rent expense 12 7 - Short term lease cost 16 13 12 Sublease income (26 ) (18 ) (12 ) Net lease cost $ 85 $ 108 $ 114 Lease cost – other operating expense $ 85 $ 89 $ 98 Lease cost – exploration expenditures - 19 16 Net lease cost $ 85 $ 108 $ 114 1 Fixed rent expense for fiscal year 2020 represents rental costs associated with contracts with de minimis ROU and lease liability balances. The maturity of lease liabilities is as follows at June 30, 2022: Fiscal Year Lease Maturities 2023 $ 92 2024 23 Total lease payments 115 Less amount of payments representing interest (10 ) Present value of lease payments 105 Less current portion of operating lease liability (82 ) Noncurrent operating lease liability $ 23

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	13. INCOME TAXES Domestic and foreign components of loss before income taxes for the years ended June 30, 2022, 2021 and 2020 are as follows: For the year ended June 30, 2022 2021 2020 Canada $ 5,960 $ 2,928 $ 2,473 United States 3,969 1,462 1,528 Total $ 9,929 $ 4,390 $ 4,001 The following table is a reconciliation of income taxes at statutory rates: For the year ended June 30, 2022 2021 2020 Loss before income taxes $ 9,929 $ 4,390 $ 4,001 Combined federal and provincial statutory income tax rate 27 % 27 % 27 % Income tax benefit at statutory tax rates 2,681 1,185 1,080 Foreign rate differential (72 ) (31 ) (30 ) Share based compensation (462 ) (212 ) (41 ) Change in estimates related to prior years (440 ) 739 (4 ) Accretion expense (457 ) - - Capital loss rate differential (38 ) 182 - Change in valuation allowance (1,238 ) (1,882 ) (946 ) Other 26 19 (59 ) 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, 2022 2021 Deferred tax assets Mineral interests $ 9,477 $ 8,658 Net operating losses available for future periods 8,543 7,921 Capital losses available for future periods 420 643 Other 74 54 Total deferred tax assets 18,514 17,276 Valuation allowance (18,514 ) (17,276 ) Net deferred tax assets $ - $ - During the years ended June 30, 2022 and 2021, we identified errors in the recognition of capital losses related to realized mineral property write downs and foreign exchange gains and losses in Canada which resulted in changes to capital losses available for future periods, net operating loss carryforwards, and other of $ (221) nil (3) 660 61 30 Changes in the valuation allowance are as follows: For the year ended June 30, 2022 2021 Valuation allowance, beginning of year $ (17,276 ) $ (15,394 ) Current year additions (1,238 ) (1,882 ) Valuation allowance, end of year $ (18,514 ) $ (17,276 ) 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 $ 18,514 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 2022 2021 Canada $ 29,967 $ 28,896 United States 2,460 2,179 Total $ 32,427 $ 31,075 In addition, the Company has a Canadian capital loss carryforward of $ 3,456 The Company had no unrecognized tax benefits as of June 30, 2022 or 2021. 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.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	14. 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 of June 30, 2022 and 2021, 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: Schedule of fair values determined by level 3 inputs are unobservable data 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 discussed in Note 8, 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 21 At June 30, 2022, the estimated fair value if the Lind III Convertible Security was $2,166. At June 30, 2021, the estimated fair value of both the Lind III Convertible Security and the Nordmin Note approximated carrying value given that the instruments were issued in fiscal year 2021 and had short time periods until maturity.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Development Stage Issuer	a) Development Stage Issuer The Company is considered to be a development stage issuer under Subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (“ S-K 1300”), and it 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 S-K 1300, and the Board of Directors has approved the commencement of formal development activities, development costs related to such reserves and incurred after such board approval 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. There was no impairment recorded to mineral properties as of June 30, 2022 or 2021, respectively.
Long Lived Assets	e) Long Lived Assets Long-lived assets, other than mineral properties, 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. There was no impairment recorded to long-lived assets as of June 30, 2022 or 2021, respectively.
Leases	f) Leases Under Accounting Standards Codification (“ASC”) 842, “Leases,” 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 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 ASC 740-10-25, “Income Taxes – Recognition.”
Basic and Diluted Per Share Disclosure	k) Basic and Diluted Per Share Disclosure Basic net loss per share is computed by dividing net loss by the weighted average number of Common Shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of Common Share equivalents outstanding for the period determined using the treasury stock method or the if-converted method, as applicable. For purposes of this calculation, options to purchase Common Shares (“Options”) and warrants to purchase Common Shares (“Warrants”) are considered to be Common Share equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying Options, Warrants, and outstanding convertible debt were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the years ended June 30, 2022, 2021, and 2020, as indicated below. Schedule of excluded from the dilutive securities As of June 30, Excluded potentially dilutive securities (1) 2022 2021 2020 Options 14,464,000 15,965,000 19,129,409 Warrants 18,516,253 14,341,868 12,376,451 Convertible debt 4,152,000 14,557,000 1,144,773 Total potential dilutive securities 37,132,253 44,863,868 32,650,633 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive.
Share 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 December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 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 adopted ASU 2019-12 on July 1, 2021, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective In August 2020, 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)” (“ASU 2020-06”), which simplifies the accounting for convertible instruments. ASU 2020-06 removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. Either a modified retrospective method of transition or a fully retrospective method of transition is permissible for the adoption of this standard. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company will adopt ASU 2020-06 on July 1, 2022, and this adoption will not have any 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.

BASIS OF PREPARATION (Tables)

BASIS OF PREPARATION (Tables)	12 Months Ended
	Jun. 30, 2022
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. Schedule of intercompany transactions and balances Country of incorporation Ownership at June 30, 2022 2021 0896800 BC Ltd. (“0896800”) Canada 100% 100% Elk Creek Resources Corp. (“ECRC”) USA 100% 100%

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities As of June 30, Excluded potentially dilutive securities (1) 2022 2021 2020 Options 14,464,000 15,965,000 19,129,409 Warrants 18,516,253 14,341,868 12,376,451 Convertible debt 4,152,000 14,557,000 1,144,773 Total potential dilutive securities 37,132,253 44,863,868 32,650,633 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive.

LAND AND BUILDINGS, NET (Tables

LAND AND BUILDINGS, NET (Tables)	12 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of properties	Schedule of properties As of June 30, 2022 2021 Cost Accumulated Depreciation Net Cost Accumulated Depreciation Net Land $ 811 $ - $ 811 $ 811 $ - $ 811 Buildings and other 45 6 39 29 3 26 $ 856 $ 6 $ 850 $ 840 $ 3 $ 837

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities	Schedule of account payable and accrued liabilities As of June 30, 2022 2021 Accounts payable, trade $ 115 $ 163 Trade payable accruals 654 157 Environmental accruals 48 48 Interest payable to related party (see Note 10) - 40 Total accounts payable and accrued liabilities $ 817 $ 408

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of convertible debt	Schedule of convertible debt As of June 30, 2022 2021 Current Portion: Lind III convertible security $ 796 $ - Nordmin note - 1,123 Total current portion $ 796 $ 1,123 Noncurrent Portion: Lind III convertible security $ - $ 6,784
Changes in the Lind III Convertible Security are as follows:	Changes in the Lind III Convertible Security are as follows: For the year ending June 30, 2022 2021 Beginning balance $ 6,784 $ 7,765 Conversions (7,635 ) (1,600 ) Accretion expense 1,647 619 Balance, end of period $ 796 $ 6,784
Changes in the Nordmin Note are as follows:	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 Conversions (1,172 ) Accretion expense 49 Balance, June 30, 2022 -

COMMON STOCK (Tables)

COMMON STOCK (Tables)	12 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stock option transactions are summarized as follows:	Stock option transactions are summarized as follows: Number of Options Weighted Average Exercise Price Balance July 1, 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 30, 2021 15,965,000 C$0.65 Granted 4,475,000 C$1.33 Exercised (2,051,533 ) C$0.70 Cancelled/expired (3,924,467 ) C$0.77 Balance June 30, 2022 14,464,000 C$0.83
Schedule of information and assumptions used to determine option costs	The following table summarizes the weighted average information and assumptions used to determine option costs: Schedule of information and assumptions used to determine option costs Year ended June 30, 2022 2021 2020 Fair value per option granted during the period (C$) $ 0.49 $ 0.25 - Risk-free interest rate 1.33 % 0.26 % - Expected dividend yield 0 % 0 % - Expected stock price volatility (historical basis) 54.4 % 54.1 % - 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, 2022: Schedule of information about stock options outstanding Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$0.47 November 9, 2022 2,804,000 C$1,206 2,804,000 C$1,206 C$0.84 September 18, 2023 1,050,000 63 1,050,000 63 C$0.54 November 15, 2023 3,785,000 1,362 3,785,000 1,362 C$0.75 December 14, 2023 1,825,000 274 1,825,000 274 C$0.75 December 16, 2023 525,000 79 525,000 79 C$1.36 December 17, 2024 3,975,000 - 3,975,000 - C$1.10 May 30, 2025 500,000 - 500,000 - Balance June 30, 2022 14,464,000 C$2,984 14,464,000 C$2,984
Schedule of warrant transactions	Warrant transactions are summarized as follows: Schedule of warrant transactions Warrants Weighted Average Exercise Price Balance July 1, 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 Granted: June 2022 private placement 5,046,135 C$1.10 Exercised (871,750 ) C$0.78 Balance June 30, 2022 18,516,253 C$1.16
Schedule of outstanding exercisable warrants	At June 30, 2022, the Company has outstanding exercisable warrants, as follows: Schedule of outstanding exercisable warrants Number Exercise Price Expiry Date 500,000 C$0.80 December 18, 2022 4,412,118 C$1.63 May 10, 2023 5,046,135 C$1.10 June 30, 2024 8,558,000 C$0.97 February 19, 2025 18,516,253

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	12 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of related party balances	Changes in the Smith Credit Agreement principal balance are as follows: Schedule of related party balances For the year ending June 30, 2022 2021 Beginning balance $ 2,318 $ 3,818 Repayments (318 ) ( 1,500 ) Balance, end of period $ 2,000 $ 2,318

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	12 Months Ended
	Jun. 30, 2022
Exploration Expenditures
Schedule of exploration expenditures	Schedule of exploration expenditures For the year ended June 30, 2022 2021 2020 Feasibility study and engineering $ 334 $ 79 $ 40 Field management and other 569 656 985 Metallurgical 2,218 272 176 Geologists and field staff 188 49 - Total $ 3,309 $ 1,056 $ 1,201

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2022
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the year ended June 30, 2022 2021 2020 1 Operating Lease Cost: Fixed rent expense $ 83 $ 106 $ 114 Variable rent expense 12 7 - Short term lease cost 16 13 12 Sublease income (26 ) (18 ) (12 ) Net lease cost $ 85 $ 108 $ 114 Lease cost – other operating expense $ 85 $ 89 $ 98 Lease cost – exploration expenditures - 19 16 Net lease cost $ 85 $ 108 $ 114 1 Fixed rent expense for fiscal year 2020 represents rental costs associated with contracts with de minimis ROU and lease liability balances.
The maturity of lease liabilities is as follows at June 30, 2022:	The maturity of lease liabilities is as follows at June 30, 2022: Fiscal Year Lease Maturities 2023 $ 92 2024 23 Total lease payments 115 Less amount of payments representing interest (10 ) Present value of lease payments 105 Less current portion of operating lease liability (82 ) Noncurrent operating lease liability $ 23

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Domestic and foreign components of loss before income taxes for the years ended June 30, 2022, 2021 and 2020 are as follows:	Domestic and foreign components of loss before income taxes for the years ended June 30, 2022, 2021 and 2020 are as follows: For the year ended June 30, 2022 2021 2020 Canada $ 5,960 $ 2,928 $ 2,473 United States 3,969 1,462 1,528 Total $ 9,929 $ 4,390 $ 4,001
The following table is a reconciliation of income taxes at statutory rates:	The following table is a reconciliation of income taxes at statutory rates: For the year ended June 30, 2022 2021 2020 Loss before income taxes $ 9,929 $ 4,390 $ 4,001 Combined federal and provincial statutory income tax rate 27 % 27 % 27 % Income tax benefit at statutory tax rates 2,681 1,185 1,080 Foreign rate differential (72 ) (31 ) (30 ) Share based compensation (462 ) (212 ) (41 ) Change in estimates related to prior years (440 ) 739 (4 ) Accretion expense (457 ) - - Capital loss rate differential (38 ) 182 - Change in valuation allowance (1,238 ) (1,882 ) (946 ) Other 26 19 (59 ) 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:	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, 2022 2021 Deferred tax assets Mineral interests $ 9,477 $ 8,658 Net operating losses available for future periods 8,543 7,921 Capital losses available for future periods 420 643 Other 74 54 Total deferred tax assets 18,514 17,276 Valuation allowance (18,514 ) (17,276 ) Net deferred tax assets $ - $ -
Changes in the valuation allowance are as follows:	Changes in the valuation allowance are as follows: For the year ended June 30, 2022 2021 Valuation allowance, beginning of year $ (17,276 ) $ (15,394 ) Current year additions (1,238 ) (1,882 ) Valuation allowance, end of year $ (18,514 ) $ (17,276 )
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.	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 2022 2021 Canada $ 29,967 $ 28,896 United States 2,460 2,179 Total $ 32,427 $ 31,075

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of fair values determined by level 3 inputs are unobservable data	Schedule of fair values determined by level 3 inputs are unobservable data 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 $ - $ - $ - $ -

Schedule of intercompany transa

Schedule of intercompany transactions and balances (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Entity 0896800 B C Ltd [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Country of incorporation	Canada	Canada
Percentage of ownership	100%	100%
Elk Creek Resources Corp [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Country of incorporation	USA	USA
Percentage of ownership	100%	100%

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	12 Months Ended
	Jun. 30, 2022 number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Excluded potentially dilutive securities :
Options	14,464,000	15,965,000	19,129,409
Warrants	18,516,253	14,341,868	12,376,451
Convertible debt	4,152,000	14,557,000	1,144,773
Total potential dilutive securities	$ 37,132,253	$ 44,863,868	$ 32,650,633

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
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, 2022	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 9,929	$ 4,390	$ 4,001
Accumulated deficit	(109,005)	(99,076)
Cash	$ 5,280	$ 7,317

MINERAL PROPERTIES (Details Nar

MINERAL PROPERTIES (Details Narrative) - USD ($) $ in Thousands		12 Months Ended
	Apr. 23, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2012
Reserve Quantities [Line Items]
Acquisition of mineral rights			$ 5,468
Acquisition of land and buildings		$ 16	$ 837
Share Exchange Agreement [Member] | Canada, Dollars
Reserve Quantities [Line Items]
Total consideration					$ 13,246
Deferred tax impacts					$ 4,736
Option Agreement [Member] | Elk Creek Resources Corp [Member]
Reserve Quantities [Line Items]
Purchase price	$ 6,300
Indirect costs	57
Acquisition of mineral rights	837
Acquisition of land and buildings	$ 5,468
Landholder Arrangement [Member] | Elk Creek Resources Corp [Member]
Reserve Quantities [Line Items]
Percentage of net smelter return	2%
Entity 0896800 B C Ltd [Member] | Share Exchange Agreement [Member]
Reserve Quantities [Line Items]
Number of shares issued upon finder's fees					1,034,348
Entity 0896800 B C Ltd [Member] | Share Exchange Agreement [Member] | Elk Creek Resources Corp [Member]
Reserve Quantities [Line Items]
Number of shares issued upon acquisition					18,990,539

Schedule of properties (Details

Schedule of properties (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Cost	$ 856	$ 840
Accumulated Depreciation	6	3
Net	850	837
Land [Member]
Cost	811	811
Accumulated Depreciation	0
Net	811	811
Building [Member]
Cost	45	29
Accumulated Depreciation	6	3
Net	$ 39	$ 26

Schedule of account payable and

Schedule of account payable and accrued liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Payables and Accruals [Abstract]
Accounts payable, trade	$ 115	$ 163
Trade payable accruals	654	157
Environmental accruals	48	48
Interest payable to related party (see Note 10)		40
Total accounts payable and accrued liabilities	$ 817	$ 408

Schedule of convertible debt (D

Schedule of convertible debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Short-Term Debt [Line Items]
Nordmin Note	$ 796	$ 1,123
Convertible Debt, Noncurrent		6,784
Convertible Security [Member]
Short-Term Debt [Line Items]
Nordmin Note	796
Convertible Debt, Noncurrent		6,784
Nordmin Convertible Note [Member]
Short-Term Debt [Line Items]
Nordmin Note		$ 1,123

Changes in the Lind III Convert

Changes in the Lind III Convertible Security are as follows: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Short-Term Debt [Line Items]
Beginning balance	$ 1,123
Accretion expense	1,696	$ 670
Eeginning balance	796	1,123
Convertible Security [Member]
Short-Term Debt [Line Items]
Beginning balance	6,784	7,765
Conversions	(7,635)	(1,600)
Accretion expense	1,647	619
Eeginning balance	$ 796	$ 6,784	$ 7,765

Changes in the Nordmin Note are

Changes in the Nordmin Note are as follows: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Short-Term Debt [Line Items]
Accretion expense	$ 1,696	$ 670
Nordmin Convertible Note [Member]
Short-Term Debt [Line Items]
Beginning balance	1,123	1,740
Conversions	(1,172)	(668)
Accretion expense	49	51
Ending balance		$ 1,123	$ 1,740

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative)					12 Months Ended
	Feb. 19, 2021 USD ($) shares	Feb. 19, 2021 USD ($) shares	Feb. 19, 2021 USD ($) shares	Dec. 18, 2020 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Feb. 18, 2022 $ / shares	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Dec. 30, 2020 number	Jan. 16, 2017 USD ($)
Short-Term Debt [Line Items]
Convertible security	$ 11,700,000
Investment interest rate	8.50%	8.50%	8.50%
Commitment fees	$ 350,000	$ 350,000	$ 350,000
Net Proceeds		$ 9,650,000
Long term debt					24 months
Credit agreement										$ 4,000,000
Issued | shares	8,558,000	8,558,000	8,558,000
Common share purchase | $ / shares						$ 0.97
Line of Credit Facility, Commitment Fee Amount			$ 350,000
Related party loanamount							$ 40,000
Face amount					14,000		1,795,000
Gain (Loss) on Extinguishment of Debt							$ (163,000)
Additional transaction cost					$ 25,000
Measurement Input, Risk Free Interest Rate [Member]
Short-Term Debt [Line Items]
Warrants and Rights Outstanding, Measurement Input									0.0032
Measurement Input, Expected Dividend Rate [Member]
Short-Term Debt [Line Items]
Warrants and Rights Outstanding, Measurement Input | number									0
Measurement Input, Price Volatility [Member]
Short-Term Debt [Line Items]
Warrants and Rights Outstanding, Measurement Input | number									0.4316
Measurement Input, Expected Term [Member]
Short-Term Debt [Line Items]
Intermediate-life Plants, Useful Life					2 years
Canada, Dollars | Convertible Security [Member]
Short-Term Debt [Line Items]
Related party loanamount					$ 2,000,000
Nordmin Convertible Note [Member] | Canada, Dollars
Short-Term Debt [Line Items]
Shares price | $ / shares					$ 0.90
Lind I I I Convertible Security [Member]
Short-Term Debt [Line Items]
Convertible security					$ 9,477,000
Lind I I I Convertible Security [Member]
Short-Term Debt [Line Items]
Description of debt conversion					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
Risk free interest rate					0.40%
Expected dividend yield					0%
Volatility					51.60%
Intermediate-life Plants, Useful Life					4 years
Transaction cost					$ 173,000
Convertible Security [Member] | Lind Asset Management I VLLC [Member]
Short-Term Debt [Line Items]
Number of shares issued upon debt conversion | shares					4,152,000
Description of change fair value obligated to issue					Company would be obligated to issue would change by approximately 47,000 shares.
Nordmin Convertible Note [Member] | Nordmin Agreement [Member]
Short-Term Debt [Line Items]
Number of shares issued upon debt conversion | shares				836,551
Conversion price (in dollars per share) | $ / shares				$ 0.684
Face amount				$ 1,872,000
Number of warrants issued | shares				500,000
Subscription price				$ 1,804,000
Implied interest rate				5%
Debt conversion amount				$ 450,000
Nordmin Convertible Note [Member] | Nordmin Agreement [Member] | Canada, Dollars
Short-Term Debt [Line Items]
Conversion price (in dollars per share) | $ / shares					$ 0.01
Revolving Credit Facility [Member]
Short-Term Debt [Line Items]
Credit agreement										$ 3,500,000

Stock option transactions are s

Stock option transactions are summarized as follows: (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Beginning balance	15,965,000	19,129,409	19,449,909
Exercised	(2,051,533)	(2,952,296)	(320,500)
Granted	4,475,000	3,700,000
Cancelled/expired	(3,924,467)	(3,912,113)
Ending balance	14,464,000	15,965,000	19,129,409
Canada, Dollars
Beginning balance	$ 0.65	$ 0.62	$ 0.62
Exercised	0.70	0.61	0.62
Granted	1.33	0.78
Cancelled/expired	0.77	0.64
Ending balance	$ 0.83	$ 0.65	$ 0.62

Schedule of information and ass

Schedule of information and assumptions used to determine option costs (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Risk-free interest rate	1.33%	0.26%
Expected dividend yield	0%	0%
Expected stock price volatility (historical basis)	54.40%	54.10%
Expected option life in years	3 years	3 years
Canada, Dollars
Fair value per option granted during the period	$ 0.49	$ 0.25

Schedule of information about s

Schedule of information about stock options outstanding (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($) shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding | shares	14,464,000
Number exercisable | shares	14,464,000
Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 2,984
Aggregate Intrinsic Value | $	$ 2,984
Exercise Price 0.47 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Nov. 09, 2022
Number of outstanding | shares	2,804,000
Number exercisable | shares	2,804,000
Exercise Price 0.47 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 1,206
Aggregate Intrinsic Value | $	$ 1,206
Exercise Price 0.84 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Sep. 18, 2023
Number of outstanding | shares	1,050,000
Number exercisable | shares	1,050,000
Exercise Price 0.84 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 63
Aggregate Intrinsic Value | $	$ 63
Exercise Price 0.54 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Nov. 15, 2023
Number of outstanding | shares	3,785,000
Number exercisable | shares	3,785,000
Exercise Price 0.54 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 1,362
Aggregate Intrinsic Value | $	$ 1,362
Exercise Price 0.75 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 14, 2023
Number of outstanding | shares	1,825,000
Number exercisable | shares	1,825,000
Exercise Price 0.75 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 274
Aggregate Intrinsic Value | $	$ 274
Exercise Price 0.75 One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 16, 2023
Number of outstanding | shares	525,000
Number exercisable | shares	525,000
Exercise Price 0.75 One [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $	$ 79
Aggregate Intrinsic Value | $	$ 79
Exercise Price 1.36 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 17, 2024
Number of outstanding | shares	3,975,000
Number exercisable | shares	3,975,000
Exercise Price 1.36 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $
Aggregate Intrinsic Value | $
Exercise Price 1.10 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	May 30, 2025
Number of outstanding | shares	500,000
Number exercisable | shares	500,000
Exercise Price 1.10 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $
Aggregate Intrinsic Value | $

Schedule of warrant transaction

Schedule of warrant transactions (Details) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Balance, at beginning	14,341,868	12,376,451	21,374,801
Exercised	(871,750)	(9,106,283)	(664,549)
Expired		(2,398,418)	(8,333,801)
Nordmin warrants		500,000
Lind III Warrants		8,558,000
April 2021 private placement		4,412,118
June 2022 private placement	5,046,135
Balance, at ending	18,516,253	14,341,868	12,376,451
Canada, Dollars
Balance, at beginning	$ 1.16	$ 0.74	$ 0.78
Exercised	0.78	0.75	0.69
Expired		0.73	0.86
Class of Warrant or Right Exercise Price Warrants November Financing		0.80
Lind III Warrants		0.97
April 2021 private placement		1.63
June 2022 private placement	1.10
Balance, at ending	$ 1.16	$ 1.16	$ 0.74

Schedule of outstanding exercis

Schedule of outstanding exercisable warrants (Details) - $ / shares	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
ScheduleOfOutstandingExercisableWarrantsLineItems [Line Items]
Number	18,516,253	14,341,868	12,376,451	21,374,801
Exercise Price 0.80 [Member]
ScheduleOfOutstandingExercisableWarrantsLineItems [Line Items]
Number	500,000
Warrant exercise price (in dollars per share)	$ 0.80
Expiry Date	Dec. 18, 2022
Exercise Price 1.63 [Member]
ScheduleOfOutstandingExercisableWarrantsLineItems [Line Items]
Number	4,412,118
Warrant exercise price (in dollars per share)	$ 1.63
Expiry Date	May 10, 2023
Exercise Price 1.10 [Member]
ScheduleOfOutstandingExercisableWarrantsLineItems [Line Items]
Number	5,046,135
Warrant exercise price (in dollars per share)	$ 1.10
Expiry Date	Jun. 30, 2024
Exercise Price 0.97 [Member]
ScheduleOfOutstandingExercisableWarrantsLineItems [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) - USD ($)				12 Months Ended
	May 10, 2021	May 10, 2021	Nov. 05, 2020	Jun. 30, 2022
Long Term Incentive Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Description of amended plan			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, 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.
Canada, Dollars
Subsidiary, Sale of Stock [Line Items]
Share Price				$ 9,989,000
Total intrinsic value				$ 973
Private Placement [Member] | Canada, Dollars
Subsidiary, Sale of Stock [Line Items]
Number of units issued		4,334,157		4,981,035
Sale of Stock, Price Per Share	$ 1.43	$ 1.43		$ 0.96
Gross proceeds from units issued		$ 6,198		$ 4,800,000
Shares price	$ 1.63	$ 1.63		$ 1.10
Expected life		2 years
Private Placement [Member] | Canada, Dollars | Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Number of units issued	77,961			65,100
Gross proceeds from units issued	$ 24			$ 18
Cash commissions paid	$ 111			$ 62
Risk free interest rate	0.28%			3.20%
Expected volatility	55%			64%
Expected life	2 years			2 years

Schedule of related party balan

Schedule of related party balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Related Party Transactions [Abstract]
Beginning balance	$ 2,318	$ 3,818
Proceeds from (Repayments of) Related Party Debt	(318)	1,500
Balance, end of period	$ 2,000	$ 2,318

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Apr. 30, 2021	Jun. 10, 2020	Apr. 03, 2020	Jan. 17, 2020	Jan. 16, 2017
Related Party Transaction [Line Items]
Principal amount outstanding								$ 4,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 252	$ 873	$ 64
Interest paid	$ 252	873
Mark Smith [Member]
Related Party Transaction [Line Items]
Interest Paid, Excluding Capitalized Interest, Operating Activities		$ 272
General Security Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Establishment fee	2.50%
Prepayment fee	2.50%
General Security Agreement [Member] | Mark Smith [Member]
Related Party Transaction [Line Items]
Principal amount outstanding				$ 1,000
Non Revolving Credit Facility Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Establishment fee			2.50%
Principal amount outstanding			$ 2,000
Amended Non Revolving Credit Facility Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Principal amount outstanding					$ 3,500	$ 3,000	$ 2,500

Schedule of exploration expendi

Schedule of exploration expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Total	$ 3,309	$ 1,056	$ 1,201
Feasibility Study and Engineering [Member]
Total	334	79	40
Field Management and Other [Member]
Total	569	656	985
Exploration and Production Equipment [Member]
Total	2,218	272	$ 176
Geologists and Field Staff [Member]
Total	$ 188	$ 49

The Company incurred lease cost

The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating Lease Cost:
Fixed rent expense	$ 83	$ 106	$ 114
Variable rent expense	12	7
Short term lease cost	16	13	12
Sublease income	(26)	(18)	(12)
Net lease cost	85	108	114
Lease cost – other operating expense	85	89	98
Lease cost – exploration expenditures		$ 19	$ 16

The maturity of lease liabiliti

The maturity of lease liabilities is as follows at June 30, 2022: (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Leases
2023	$ 92
2024	23
Total lease payments	115
Less amount of payments representing interest	(10)
Present value of lease payments	105
Less current portion of operating lease liability	(82)	$ (69)
Noncurrent operating lease liability	$ 23	$ 105

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Discount rate	16%
Remaining lease term	1 year 3 months 19 days
Cash payment	$ 90	$ 64
Corporate office [Member]
Property, Plant and Equipment [Line Items]
Lessee, Operating Lease, Option to Extend	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.

Domestic and foreign components

Domestic and foreign components of loss before income taxes for the years ended June 30, 2022, 2021 and 2020 are as follows: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating Loss Carryforwards [Line Items]
Total	$ 9,929	$ 4,390	$ 4,001
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Total	5,960	2,928	2,473
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Total	$ 3,969	$ 1,462	$ 1,528

The following table is a reconc

The following table is a reconciliation of income taxes at statutory rates: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Loss before income taxes	$ 9,929	$ 4,390	$ 4,001
Combined federal and provincial statutory income tax rate	27%	27%	27%
Income tax benefit at statutory tax rates	$ 2,681	$ 1,185	$ 1,080
Foreign rate differential	(72)	(31)	(30)
Share based compensation	(462)	(212)	(41)
Change in estimates related to prior years	(440)	739	(4)
Accretion expense	(457)
Capital loss rate differential	(38)	182
Change in valuation allowance	(1,238)	(1,882)	(946)
Other	26	19	(59)
Income tax benefit

Deferred income taxes reflect t

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 a (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Mineral interests	$ 9,477	$ 8,658
Net operating losses available for future periods	8,543	7,921
Capital losses available for future periods	420	643
Other	74	54
Total deferred tax assets	18,514	17,276
Valuation allowance	(18,514)	(17,276)	$ (15,394)
Net deferred tax assets

Changes in the valuation allowa

Changes in the valuation allowance are as follows: (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Valuation allowance, beginning of year	$ (17,276)	$ (15,394)
Current year additions	(1,238)	(1,882)
Valuation allowance, end of year	$ (18,514)	$ (17,276)

As a result of the Tax Cuts and

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. (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Operating Loss Carryforwards [Line Items]
Total	$ 32,427	$ 31,075
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Total	29,967	28,896
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Total	$ 2,460	$ 2,179

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Increases in capital losses available for future periods	$ (221)	$ 660
Net operating loss carryforwards	0	61
Other income taxes	(3)	30
Valuation allowance	18,514	$ 17,276	$ 15,394
Capital loss caryforward	$ 3,456

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 5,280	$ 7,317
Investment in equity securities	10	16
Total	5,290	7,333
Liabilities
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	5,280	7,317
Investment in equity securities	10	16
Total	5,290	$ 7,333
Liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Mortgage-Backed Securities Available-for-Sale, Fair Value Disclosure
Total
Liabilities
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Mortgage-Backed Securities Available-for-Sale, Fair Value Disclosure
Total
Liabilities

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details Narrative)	12 Months Ended
	Jun. 30, 2022
Short-Term Debt [Line Items]
Expected Return Percentage	7%
Lind I I I Convertible Security [Member]
Short-Term Debt [Line Items]
Expected Return Percentage	21%