NioCorp Developments (NB) 10-Q 30 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	May 30, 2023
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
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	720
Local Phone Number	334-7066
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 Common Stock, Shares Outstanding		30,396,120
Common Shares Without Par Value [Member]
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	NB
Security Exchange Name	NASDAQ
Warrants Each Exercisable for 1.11829212 Common Shares [Member]
Title of 12(b) Security	Warrants, each exercisable for 1.11829212 Common Shares
Trading Symbol	NIOBW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Current
Cash	$ 7,145	$ 5,280
Prepaid expenses and other	96	402
Total current assets	7,241	5,682
Non-current
Other assets	35	35
Investment in equity securities	7	10
Right-of-use assets	248	94
Land and buildings, net	840	850
Mineral interests	16,085	16,085
Total assets	24,456	22,756
Current liabilities
Accounts payable and accrued liabilities	3,319	817
Related party loan	1,289	2,000
Convertible debt		2,169
Operating lease liability	70	82
Total current liabilities	4,678	5,068
Convertible debt	12,263
Warrant liabilities, at fair value	5,303
Earnout Shares liability, at fair value	12,314
Operating lease liability	177	23
Total liabilities	34,735	5,091
Redeemable noncontrolling interest	2,233
SHAREHOLDERS’ EQUITY
Common shares, no par value, unlimited shares authorized; shares outstanding: 30,081,655 at March 31, 2023 and 27,667,060 at June 30, 2022	134,445	129,055
Accumulated deficit	(146,046)	(110,397)
Accumulated other comprehensive loss	(911)	(993)
Total shareholders’ equity	(12,512)	17,665
Total liabilities, redeemable noncontrolling interest and equity	$ 24,456	$ 22,756

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Common stock, par or stated value per share	$ 0	$ 0
Common stock, authorized	Unlimited	Unlimited
Common stock, shares outstanding	30,081,655	27,667,060

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Operating expenses
Employee related costs	$ 1,405	$ 308	$ 1,989	$ 1,859
Professional fees	157	16	583	530
Exploration expenditures	1,410	845	4,015	1,957
Other operating expenses	26,220	217	26,888	1,324
Total operating expenses	29,192	1,386	33,475	5,670
Change in fair value of Earnout Shares liability	(881)		(881)
Change in fair value of warrant liability	784		868
Loss on debt extinguishment	300		1,922
Foreign exchange (gain) loss	83	(66)	192	98
Interest expense	142	679	362	2,306
Gain on sale of assets			(13)
Loss on equity securities	1	1	2	6
Loss before income taxes	29,621	2,000	35,927	8,080
Income tax benefit	(186)		(186)
Net loss	29,435	2,000	35,741	8,080
Net loss attributable to redeemable noncontrolling interest	92		92
Net loss attributable to the Company	29,343	2,000	35,649	8,080
Net loss	29,435	2,000	35,741	8,080
Other comprehensive loss (gain):
Reporting currency translation	(112)	38	(82)	(72)
Total comprehensive loss	29,323	2,038	35,659	8,008
Comprehensive loss attributable to redeemable noncontrolling interest	92		92
Comprehensive loss attributable to the Company	$ 29,231	$ 2,038	$ 35,567	$ 8,008
Loss per common share, basic and diluted	$ 1	$ 0.08	$ 1.26	$ 0.31
Weighted average common shares outstanding	28,546,379	26,576,440	28,128,731	26,172,981

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (35,741)	$ (8,080)
Adjustments to reconcile net loss to net cash used in operations:
Initial valuation of warrants	3,848
Change in fair value of warrants	868
Initial valuation of Earnout Shares liability	13,195
Change in fair value of Earnout Shares liability	(881)
Share-based compensation	1,788	1,568
Fair value of Commitment Shares issued	650
Accretion of convertible debt	215	2,149
Loss on debt extinguishment	1,422
Foreign exchange loss	200	148
Unrealized loss on equity securities	2	6
Depreciation	2	2
Gain on sale of assets	(13)
Noncash lease expense	(12)	(5)
Total	(14,457)	(4,212)
Change in working capital items:
Prepaid expenses and other	304	(516)
Accounts payable and accrued liabilities	2,688	314
Net cash used in operating activities	(11,465)	(4,414)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of land and buildings		(16)
Proceeds from sale of assets	21
Net cash provided by (used in) investing activities	21	(16)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common shares	11	973
Share issuance costs	(21)
Convertible debt repayment	(515)
Proceeds of debt issuance, net of costs	14,857
Related party debt draws	1,130
Related party debt repayments	(1,841)	(318)
Net cash provided by financing activities	13,621	655
Exchange rate effect on cash and cash equivalents	(312)	(78)
Change in cash and cash equivalents during period	1,865	(3,853)
Cash and cash equivalents, beginning of period	5,280	7,317
Cash and cash equivalents, end of period	7,145	3,464
Supplemental cash flow information:
Amounts paid for interest	239	40
Non-cash financing transactions:
Conversions of debt for common shares	$ 1,950	$ 6,622

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity and Redeemable Noncontrolling Interest (unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total	Redeemable Noncontrolling Interest [Member]
Beginning balance, value at Jun. 30, 2021	$ 113,882	$ (99,510)	$ (1,159)	$ 13,213
Beginning balance (in shares) at Jun. 30, 2021	25,637,991
Exercise of warrants	$ 543			543
Exercise of warrants (in shares)	87,175
Exercise of options	$ 430			430
Exercise of options (in shares)	192,653
Debt conversions	$ 6,622			6,622
Debt conversions (in shares)	890,550
Share-based compensation	$ 1,568			1,568
Reporting currency translation			72	72
Loss for the period		(8,080)		(8,080)
Reporting currency translation			(72)	(72)
Ending balance, value at Mar. 31, 2022	$ 123,045	(107,590)	(1,087)	14,368
Ending balance (in shares) at Mar. 31, 2022	26,808,369
Beginning balance, value at Dec. 31, 2021	$ 120,936	(105,590)	(1,050)	14,296
Beginning balance (in shares) at Dec. 31, 2021	26,402,696
Exercise of options	$ 9			9
Exercise of options (in shares)	90,692
Debt conversions	$ 2,100			2,100
Debt conversions (in shares)	314,981
Reporting currency translation			37	37
Loss for the period		(2,000)		(2,000)
Reporting currency translation			(37)	(37)
Ending balance, value at Mar. 31, 2022	$ 123,045	(107,590)	(1,087)	14,368
Ending balance (in shares) at Mar. 31, 2022	26,808,369
Beginning balance, value at Jun. 30, 2022	$ 129,055	(110,397)	(993)	$ 17,665
Beginning balance (in shares) at Jun. 30, 2022	27,667,060			27,667,060
Reporting currency translation			(5)	$ (5)
Loss for the period				(3,877)
Reporting currency translation			5	5
Ending balance, value at Sep. 30, 2022	$ 130,684	(114,274)	(998)	15,412
Beginning balance, value at Jun. 30, 2022	$ 129,055	(110,397)	(993)	$ 17,665
Beginning balance (in shares) at Jun. 30, 2022	27,667,060			27,667,060
Exercise of options	$ 11			$ 11
Debt conversions	1,950			1,950
Reporting currency translation			(30)	(30)
Loss for the period		(6,306)		(6,306)
Share issuance costs	(21)			(21)
Reporting currency translation			30	30
Ending balance, value at Dec. 31, 2022	$ 130,995	(116,703)	(1,023)	13,269
Ending balance (in shares) at Dec. 31, 2022	28,242,064
Beginning balance, value at Jun. 30, 2022	$ 129,055	(110,397)	(993)	$ 17,665
Beginning balance (in shares) at Jun. 30, 2022	27,667,060			27,667,060
Exercise of options	$ 11			$ 11
Exercise of options (in shares)	265,138			265,129
Debt conversions	$ 1,950			$ 1,950
Debt conversions (in shares)	314,423
Share-based compensation	$ 1,788			1,788
Reporting currency translation			82	82
Loss for the period		(35,649)		(35,649)	(92)
Fair value of Financing Warrants issued	3,337			3,337
Common Shares issued in the GXII Transaction
Equity Raise Transaction (in shares)	1,753,821
Redeemable noncontrolling interest	$ (2,325)			(2,325)	2,325
Commitment Shares issued	$ 650			650
Commitment Shares issued (in shares)	81,213
Share issuance costs	$ (21)			(21)
Reporting currency translation			(82)	(82)
Ending balance, value at Mar. 31, 2023	$ 134,445	(146,046)	(911)	$ (12,512)	2,233
Ending balance (in shares) at Mar. 31, 2023	30,081,655			30,081,655
Beginning balance, value at Sep. 30, 2022	$ 130,684	(114,274)	(998)	$ 15,412
Exercise of options	11			11
Debt conversions	1,650			1,650
Reporting currency translation			(25)	(25)
Share issuance costs				300
Reporting currency translation			25	25
Ending balance, value at Dec. 31, 2022	$ 130,995	(116,703)	(1,023)	13,269
Ending balance (in shares) at Dec. 31, 2022	28,242,064
Exercise of options
Exercise of options (in shares)	4,557
Share-based compensation	$ 1,788			1,788
Reporting currency translation			112	112
Loss for the period		(29,343)		(29,343)	(92)
Common Shares issued in the GXII Transaction
Equity Raise Transaction (in shares)	1,753,821
Redeemable noncontrolling interest	$ (2,325)			(2,325)	2,325
Commitment Shares issued	$ 650			650
Commitment Shares issued (in shares)	81,213
Reporting currency translation			(112)	(112)
Fair value of Financing Warrants issued	3,337			3,337
Ending balance, value at Mar. 31, 2023	$ 134,445	$ (146,046)	$ (911)	$ (12,512)	$ 2,233
Ending balance (in shares) at Mar. 31, 2023	30,081,655			30,081,655

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“we,” “us,” “our,” “NioCorp” or the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in one As further discussed in Notes 5, 8, and 9, on March 17, 2023 (the “Closing Date”), the Company closed the GXII Transaction (as defined below) with GX Acquisition Corp. II (“GXII”), pursuant to the Business Combination Agreement, dated September 25, 2022 (the “Business Combination Agreement”), among the Company, GXII and Big Red Merger Sub Ltd (the “Closing”). At the Closing, the Company also closed convertible debt financings (the “Yorkville Convertible Debt Financing”) with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP (together with YA II PN, Ltd., “Yorkville”), and the standby equity purchase facility with Yorkville (the “Yorkville Equity Facility Financing” and, together with the Yorkville Convertible Debt Financing, the “Yorkville Financings”) became effective. The transactions contemplated by the Business Combination Agreement, including the GXII Transaction, the Yorkville Financings and the Reverse Stock Split (as defined below), are referred to, collectively, as the “Transactions.” The GXII Transaction is being accounted for as an equity raise transaction in accordance with generally accepted accounting principles of the United States of America (“U.S. GAAP”). Under this method of accounting, GXII is treated as the “acquired” company for financial reporting purposes. Accordingly, the GXII Transaction is treated as the equivalent of NioCorp issuing common shares, no par value, of the Company (“Common Shares”) for the assets and liabilities of GXII. The net assets of GXII are stated at historical cost, with no goodwill or other intangible assets recorded. These interim condensed 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 to construction and commercial operation. As further discussed in Note 4, 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	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION	2. BASIS OF PREPARATION a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries with all significant intercompany transactions eliminated. The accounting policies followed in preparing these interim condensed consolidated financial statements are those used by the Company as set out in the audited consolidated financial statements for the year ended June 30, 2022. Certain transactions include reference to Canadian dollars (“C$”) where applicable. In the opinion of management, all adjustments considered necessary (including normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at March 31, 2023, and for all periods presented, have been included in these interim condensed consolidated financial statements. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to appropriate SEC rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2022. The interim results are not necessarily indicative of results for the full year ending June 30, 2023, or future operating periods. b) Recent Accounting Standards Issued and Adopted In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“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 adopted ASU 2020-06 on July 1, 2022, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective 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. c) 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, convertible debt valuations, earnout valuation, warrant liabilities, 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. d) Basic and Diluted Earnings per Share Basic earnings (loss) per share represents net earnings (loss) attributable to common shareholders divided by the weighted average number of Common Shares outstanding during the period. The Company considers Vested Shares and Released Earnout Shares (each as defined in Note 9), to be participating securities, requiring the use of the two-class method. Diluted earnings per share represents net earnings attributable to common shareholders divided by the weighted average number of Common Shares outstanding, inclusive of the dilutive impact of all potentially dilutive securities outstanding during the period, as applicable. The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and nine months ended March 31, 2023: For the three months ended March 31, For the nine months ended March 31, 2023 2022 2023 2022 Numerator: Net loss $ 29,435 $ 2,000 $ 35,741 $ 8,080 Adjust: Net loss attributable to noncontrolling interest (56 ) - (43 ) - Net loss available to participating securities 29,379 2,000 35,698 8,080 Net loss attributable to Vested Shares (708 ) - (271 ) - Net loss attributed to common shareholders - basic and diluted $ 28,671 $ 2,000 $ 35,427 $ 8,080 Denominator: Weighted average shares outstanding – basic and diluted 28,546,379 26,576,440 28,128,731 26,172,981 Loss per Common Share outstanding – basic and diluted $ 1.00 $ 0.08 $ 1.26 $ 0.31 The following shares underlying Options, Warrants, outstanding convertible debt and redeemable noncontrolling interest shares were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three- and nine-month periods ended March 31, 2023 and 2022, as indicated below. Schedule of excluded from the dilutive securities For the three and nine months ended 2023 2022 Excluded potentially dilutive securities (1)(2) Options 1,561,500 1,408,900 Warrants 19,257,515 1,347,011 Convertible debt 2,723,500 632,900 Total potential dilutive securities 23,542,515 3,388,811 ( 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 (2) Earnout Shares (as defined below) are excluded as the vesting terms were not met as of the end of the reporting period. e) Reverse Stock Split On March 17, 2023, the Company effected a reverse stock split (the “Reverse Stock Split”) on the basis of one (1) post-Reverse Stock Split Common Share for every ten (10) pre-Reverse Stock Split Common Shares issued and outstanding, with any fractional shares resulting from the Reverse Stock Split rounded down to the nearest whole share. Immediately after the Reverse Stock Split, there were 30,000,442 f) Redeemable Noncontrolling Interest Redeemable Noncontrolling Interest refers to non-controlling interest associated with the Vested Shares that are redeemable upon the occurrence of an event that is not solely within the Company’s control and is reported in the mezzanine section between total liabilities and shareholders’ deficit, as temporary equity in the Company’s consolidated balance sheets. The Company adjusts the Redeemable Noncontrolling Interest balance to reflect its estimate of the maximum redemption amount each reporting period. The Company’s non-controlling interest is redeemable at fair value, and no adjustment to the earnings per share numerator is required because redemption at fair value is not considered an economic distribution different from other common stockholders. g) Foreign Currency Translation and Functional Currency Conversion Items included in these interim condensed consolidated financial statements of each of the Company and the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which the entities operate (the “functional currency”). Prior to March 17, 2023, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss. The Company re-assessed its functional currency and determined that on March 17, 2023, its functional currency changed from the Canadian dollar to the U.S. dollar based on significant changes in economic facts and circumstances in our organization. The change in functional currency was accounted for prospectively from March 17, 2023 and prior-period financial statements were not restated for the change in functional currency. For both monetary and non-monetary assets and liabilities, translated balances as of March 17, 2023 became the new accounting basis. The exchange rate on the date of change became the historical rate at which non-monetary assets and liabilities were translated in subsequent periods. There was no effect on the cumulative translation adjustment on the consolidated basis. Previously recorded cumulative translation adjustments were not reversed. For periods commencing after March 17, 2023, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after March 17, 2023 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transactions. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains. The functional currency for the Company’s Canadian subsidiary, 0896800 BC Ltd., which has no independent operations from its parent, also changed from the Canadian dollar to the U.S. dollar. The functional currency for Elk Creek Resources Corp. remains as the U.S. dollar.

RESTATEMENTS

RESTATEMENTS	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
RESTATEMENTS	3. RESTATEMENTS On February 16, 2021, the Company entered into a Convertible Security Funding Agreement (as amended by Amendment #1 to the Convertible Security Funding Agreement dated December 2, 2021, the “CSFA”) with Lind Global Asset Management III, LLC (“Lind”), pursuant to which the Company issued a convertible security to Lind (the “Lind III Convertible Security”). Pursuant to the CSFA, Lind had certain consent and participation rights applicable in connection with the GXII Transaction and the Yorkville Financings. As more fully discussed in Note 8, on September 25, 2022, the Company and Lind, entered into an agreement (the “Lind Consent”), which modified certain aspects of the CSFA. The Company originally accounted for the Lind Consent under Accounting Standards Codification (“ASC”) Topic 450, Contingencies. In connection with the preparation of the Company’s financial statements for the period ended March 31, 2023, the Audit Committee, in consultation with the Company’s management, determined that the Lind Consent should have been evaluated using ASC Topic 470 – Debt (“ASC 470”), which requires an evaluation of the contract amendment under applicable ASC debt modification guidance. This error impacted the Company’s condensed consolidated balance sheets as of September 30, 2022 and December 31, 2022 and condensed consolidated statements of operations and comprehensive loss and condensed consolidated statements of shareholders’ equity for the periods ended September 30, 2022 and December 31, 2022, as well as certain notes thereto. The identification of the need for the restatement arose during the Company’s quarterly close for the quarter ended March 31, 2023. The Company performed a comparison of the discounted cash flows of the Lind III Convertible Security pursuant to the original CSFA and pursuant to the CSFA as amended by the Lind Consent and determined that a debt extinguishment loss of $ 201 200 Schedule Of Extinguishment Of Debt Amount Minimum Consent Payment at inception $ 200 Debt extinguishment fair value adjustment 201 Initial fair value of Contingent Consent Warrants 1,221 Total loss on debt extinguishment $ 1,622 These interim financial statements as of and for the three and nine months ended March 31, 2023 include the impacts of this restatement. The following tables disclose the impacts of the restatement on the previously filed Quarterly Reports on Form 10-Q for the reporting periods ended September 30, 2022 and December 31, 2022. Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of September 30, 2022 As Previously Reported Restatement Impacts Restated Deferred transaction costs $ 2,809 $ (200 ) $ 2,609 Total assets 23,246 (200 ) 23,046 Convertible debt 755 159 914 Total current liabilities 6,511 159 6,670 Warrant liability - 964 964 Total liabilities 6,511 1,123 7,634 Accumulated deficit (112,951 ) (1,323 ) (114,274 ) Total shareholders’ equity 16,735 (1,323 ) 15,412 Total liabilities and equity 23,246 (200 ) 23,046 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended September 30, 2022 As Previously Reported Restatement Impacts Restated Interest expense $ 300 $ (42 ) $ 258 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - (257 ) (257 ) Loss before income taxes 2,554 1,323 3,877 Net loss 2,554 1,323 3,877 Total comprehensive loss 2,559 1,323 3,882 Loss per share $ 0.09 $ 0.05 $ 0.14 Weighted average shares outstanding, on post-reverse stock split basis 27,792,632 - 27,792,632 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Three Months Ended September 30, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period $ (2,554 ) $ (1,323 ) $ (3,877 ) Accretion of convertible debt 236 (42 ) 194 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - (257 ) (257 ) Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) As of September 30, 2022 Common Accumulated Accumulated Total As Previously Reported Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Debt conversions 1,650 - - 1,650 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (5 ) (5 ) Loss for the period As restated (a) - (2,554 ) - (2,554 ) Balance, September 30, 2022 As restated (a) $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period As restated (a) - (1,323 ) - (1,323 ) Balance, September 30, 2022 As restated (a) $ - $ (1,323 ) $ - $ (1,323 ) As Adjusted Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Debt conversions 1,650 - - 1,650 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (5 ) (5 ) Loss for the period As restated (a) - (3,877 ) - (3,877 ) Balance, September 30, 2022 As restated (a) $ 130,684 $ (114,274 ) $ (998 ) $ 15,412 Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of December 31, 2022 As Previously Reported Restatement Impacts Restated Deferred transaction costs $ 4,338 $ (200 ) $ 4,138 Total assets 21,901 (200 ) 21,701 Convertible debt 502 39 541 Total current liabilities 7,088 39 7,127 Warrant liability - 1,305 1,305 Total liabilities 7,088 1,344 8,432 Accumulated deficit (115,159 ) (1,544 ) (116,703 ) Total shareholders’ equity 14,813 (1,544 ) 13,269 Total liabilities and equity 21,901 (200 ) 21,701 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated Interest expense (income) $ 82 $ (120 ) $ (38 ) Change in fair value of warrant liability - 341 341 Loss before income taxes 2,208 221 2,429 Net loss 2,208 221 2,429 Total comprehensive loss 2,233 221 2,454 Loss per share $ 0.08 $ 0.01 $ 0.09 Weighted average shares outstanding, on post-reverse stock split basis 28,056,263 - 28,056,263 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Six Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated Interest expense $ 382 $ (162 ) $ 220 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - 84 84 Loss before income taxes 4,762 1,544 6,306 Net loss 4,762 1,544 6,306 Total comprehensive loss 4,792 1,544 6,336 Loss per share $ 0.17 $ 0.06 $ 0.23 Weighted average shares outstanding, on post-reverse stock split basis 27,924,227 - 27,924,227 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Six Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period $ (4,762 ) $ (1,544 ) $ (6,306 ) Accretion of convertible debt 283 (162 ) 121 Loss on debt extinguishment - 1,622 1,622 Change in financial instrument fair value - 84 84 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Three Months Ended December 31, 2022 Common Accumulated Accumulated Total As Previously Reported Balance, September 30, 2022 $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Exercise of options 11 - 11 Debt conversions 300 - - 300 Reporting currency translation - - (25 ) (25 ) Loss for the period As restated (a) - (2,208 ) - (2,208 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, September 30, 2022 $ - $ (1,323 ) $ - $ (1,323 ) Loss for the period As restated (a) - (221 ) - (221 ) Balance, December 31, 2022 As restated (a) $ - $ (1,544 ) $ - $ (1,544 ) As Adjusted Balance, September 30, 2022 $ 130,684 $ (114,274 ) $ (998 ) $ 15,412 Exercise of options 11 - 11 Debt conversions 300 - - 300 Reporting currency translation - - (25 ) (25 ) Loss for the period As restated (a) - (2,429 ) - (2,429 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Six Months Ended December 31, 2022 Common Shares Accumulated Accumulated Other Comprehensive Loss Total As Previously Reported Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Exercise of warrants 11 - - 11 Debt conversions 1,950 - - 1,950 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (30 ) (30 ) Loss for the period As restated (a) - (4,762 ) - (4,762 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period As restated (a) - (1,544 ) - (1,544 ) Balance, December 31, 2022 As restated (a) $ - $ (1,544 ) $ - $ (1,544 ) As Adjusted Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Exercise of warrants 11 - - 11 Debt conversions 1,950 - - 1,950 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (30 ) (30 ) Loss for the period As restated (a) - (6,306 ) - (6,306 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 As previously reported, the Company restated its consolidated balance sheets as of June 30, 2022 and 2021, and consolidated statements of operations and comprehensive income, equity and cash flows for the years ended June 30, 2022 and 2021. In addition, the restatement impacted the first, second and third quarters of our fiscal year ended June 30, 2022. The summarized restatement impacts for the comparable interim period in fiscal year 2022 are presented below. The restatement corrects errors related to the accounting for the unamortized deferred financing costs and debt discounts upon extinguishments of debt related to debt conversions. Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated Foreign exchange gain $ (48 ) $ (18 ) $ (66 ) Interest expense 477 202 679 Loss before income taxes 1,816 184 2,000 Net loss 1,816 184 2,000 Reporting currency translation 18 20 38 Total comprehensive loss 1,834 204 2,038 Loss per share $ 0.07 $ 0.01 $ 0.08 Weighted average shares outstanding, on post-reverse stock split basis 26,576,440 - 26,576,440 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Three Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated December 31, 2021 opening balance adjustments: Deficit $ (104,494 ) $ (1,096 ) $ (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total Shareholders’ equity 15,392 (1,096 ) 14,296 Activity adjustments: Loss for the period (1,816 ) (184 ) (2,000 ) Reporting currency translation (18 ) (20 ) (38 ) March 31, 2022 ending balance adjustments: Deficit (106,310 ) (1,280 ) (107,590 ) Accumulated other comprehensive loss (1,067 ) (20 ) (1,087 ) Total equity 15,668 (1,300 ) 14,368 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Nine Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated Foreign exchange loss $ 101 $ (3 ) $ 98 Interest expense 1,457 849 2,306 Loss before income taxes 7,234 846 8,080 Net loss 7,234 846 8,080 Reporting currency translation (76 ) 4 (72 ) Total comprehensive loss 7,158 850 8,008 Loss per share $ 0.28 $ 0.03 $ 0.31 Weighted average shares outstanding, on post-reverse stock split basis 26,172,981 - 26,172,981 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Nine Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Total loss for the period $ (7,234 ) $ (846 ) $ (8,080 ) Accretion of convertible debt 1,300 849 2,149 Foreign exchange loss 151 (3 ) 148 NioCorp Developments Ltd. Notes to the Condensed Consolidated Financial Statements March 31, 2023 (expressed in thousands of U.S. dollars, except per share amounts or as otherwise stated) (unaudited) Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Nine Months Ended March 31, 2022 Deficit Restatement Impacts Restated June 30, 2021 balances as previously reported Deficit $ (99,076 ) $ (434 ) $ (99,510 ) Accumulated other comprehensive loss (1,143 ) (16 ) (1,159 ) Total Shareholders’ equity 13,663 (450 ) 13,213 Activity adjustments: Loss for the period (7,234 ) (846 ) (8,080 ) Reporting currency translation 76 (4 ) 72 March 31, 2022 ending balance adjustments: Deficit (106,310 ) (1,280 ) (107,590 ) Accumulated other comprehensive loss (1,067 ) (20 ) (1,087 ) Total equity 15,668 (1,300 ) 14,368

GOING CONCERN ISSUES

GOING CONCERN ISSUES	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN ISSUES	4. GOING CONCERN ISSUES The Company incurred a loss of $ 35,649 8,080 146,046 7,145 The Company’s ability to continue operations and fund its expenditures, which have averaged approximately $ 1,929 61,600 Recent worldwide events have created general global economic uncertainty as well as uncertainty in capital markets, supply chain disruptions, increased interest rates and inflation, 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 these events 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.

GXII TRANSACTION

GXII TRANSACTION	9 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
GXII TRANSACTION	5. GXII TRANSACTION Pursuant to the Business Combination Agreement, the following transactions (collectively, the “GXII Transaction”) occurred on the Closing Date: ● As a result of a series of transactions, GXII became an indirect, majority-owned subsidiary of NioCorp and changed its name to “Elk Creek Resources Corp” (“ECRC”). ● As the parent company of the merged entity, NioCorp issued 1,753,821 Common Shares ● All of the Class B shares of GXII issued and outstanding immediately prior to the Closing (after giving effect to the surrender of certain Class B shares of GXII in accordance with the Sponsor Support Agreement, dated September 25, 2022 (the “Sponsor Support Agreement”), among GX Sponsor II LLC (the “Sponsor”), GXII, NioCorp and the other persons party thereto) were converted into 7,957,404 ● NioCorp assumed GXII’s obligations under the agreement (the “GXII Warrant Agreement”) governing the GXII share purchase warrants (the “GXII Warrants”) and issued an aggregate of 15,666,626 17,519,864 After the distribution of funds to GXII redeeming shareholders and prior to paying transaction costs incurred by GXII, $ 15,676 The following table summarizes the elements of the GXII Transaction allocated to the Consolidated Statements of Operations: Amount Gross cash proceeds, net of transaction costs incurred by GXII $ 2,168 Less: Net liabilities assumed 392 Warrants assumed at fair value 3,848 Earnout Shares assumed at fair value 13,195 Transaction costs expensed 6,309 Net costs allocated to other operating expense $ 21,576 The number of Common Shares issued and outstanding immediately following the consummation of the Transactions were as follows: Common Shares Percentage Legacy NioCorp Shareholders 28,246,621 93.90 % Former GXII Class A Shareholders 1 1,753,821 5.83 % Other 2 81,213 0.27 % Total Common Shares Outstanding Upon Completion of Transactions 30,081,655 100 % 1 Includes 83,770 Common Shares issued to BTIG, LLC in exchange for Class A shares of GXII that it received as partial payment for advisory services. 2 Represents Commitment Shares (as defined below) issued under the Yorkville Equity Facility Financing Agreement. In connection with the GXII Transaction, the Company also closed the Yorkville Convertible Debt Financing and the Yorkville Equity Facility Financing, as discussed in Note 8.

LAND AND BUILDINGS, NET

LAND AND BUILDINGS, NET	9 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
LAND AND BUILDINGS, NET	6. LAND AND BUILDINGS, NET In October 2022, the Company entered into an agreement with the State of Nebraska (the “State”) to sell a strip of Company-owned land totaling approximately 1.27 acres located adjacent to State Highway 50 21 13

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities As of Note March 31, 2023 June 30, 2022 Accounts payable, trade $ 926 $ 115 Accounts payable accruals 2,055 654 Taxes payable 259 - Interest and fees payable to related party 11 31 - Other accruals 48 48 Total accounts payable and accrued liabilities $ 3,319 $ 817

CONVERTIBLE DEBT

CONVERTIBLE DEBT	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	8. CONVERTIBLE DEBT Lind III Convertible Security Changes in the Lind III Convertible Security are as follows Lind III Balance, June 30, 2022 $ 2,169 Fair value increase due to debt extinguishment 201 Accretion expense 95 Conversions (1,950 ) Payment at maturity (515 ) Balance, March 31, 2023 $ - On September 25, 2022, the Company and Lind entered into the Lind Consent, which included the following principal terms: (i) the consent of Lind to the GXII Transaction disclosed in Note 5 and Yorkville Financings disclosed in Note 8, including all actions taken by NioCorp as set out in the Business Combination Agreement to permit the completion of the Transactions; (ii) the consent of Lind to NioCorp’s expected cross-listing to The Nasdaq Stock Market LLC (“Nasdaq”) and the consolidation of the Common Shares in order to meet the minimum listing requirements thereof; (iii) the waiver of Lind of its participation right for up to 15% of the total offering in the Yorkville Equity Facility Financing; and (iv) the waiver of Lind of certain restrictive covenants in the CSFA. As consideration for entering into the Lind Consent, Lind received, amongst other things: (i) the right to receive a payment of $500, which would have been reduced to $200 if the Transactions had not been consummated on or before April 30, 2023 (collectively, the “Consent Payment”); (ii) an extension of its existing participation rights under the CSFA in future financings of NioCorp for a further two-year period, subject to certain exceptions as well as an extension of such participation rights beyond the additional two-year period if Yorkville or any affiliate is a party to any such applicable transaction; and (iii) the right to receive additional Warrants (the “Contingent Consent Warrants”) if on the date that is 18 months following the Closing Date, the closing trading price of the Common Shares on the Toronto Stock Exchange (the “TSX”) or such other stock exchange on which such shares may then be listed, is less than C$10.00 (on a post-Reverse Stock Split basis), subject to adjustments. The number of Contingent Consent Warrants to be issued, if any, is based on the Canadian dollar equivalent (based on the then current Canadian to US dollar exchange rate as reported by Bloomberg, LP) of $5,000 divided by the five-day volume weighted average price of the Common Shares on the date of issuance. Further, the number of Contingent Consent Warrants issued will be proportionately adjusted based on the percentage of Warrants currently held by Lind that are exercised, if any, prior to the issuance of any Contingent Consent Warrants. The Lind Consent was signed as an amendment to the existing CSFA. Management determined that the Lind Consent should have been evaluated using ASC 470, which requires an evaluation of the contract amendment under debt modification guidance. The Company performed a comparison of the discounted cash flows of the Lind III Convertible Security pursuant to the existing CSFA and pursuant to the CSFA as amended by the Lind Consent and determined that a debt extinguishment loss of $201 had occurred. Further, ASC 470 requires that the minimum estimated Consent Payment of $200 also be included in the calculation of the gain or loss on debt extinguishment. The Company also evaluated the Contingent Consent Warrant feature included in the Lind Consent and determined that the Contingent Consent Warrants meet the criteria to be considered separate, freestanding instruments, should be accounted for as a liability under ASC 480, and should be booked at fair value on the date of the Lind Consent, with subsequent changes in valuation recorded as a non-operating gain or loss in the statement of operations. The following table summarizes the components of the initial loss on extinguishment: The following table summarizes the components of the initial loss on extinguishment: Component of loss Amount Minimum Consent Payment at inception $ 200 Loss on debt extinguishment 201 Initial fair value of Contingent Consent Warrants 1,221 Initial loss on debt extinguishment $ 1,622 Changes in the fair value of the Contingent Consent Warrants are presented below: Amount Initial valuation, September 25, 2022 $ 1,221 Change in valuation (257 ) Valuation at September 30, 2022 964 Change in valuation 341 Valuation at December 31, 2022 1,305 Change in valuation 220 Valuation at March 31, 2023 $ 1,525 The Contingent Consent Warrants are classified as a Level 3 financial instrument and were valued utilizing a Monte Carlo simulation pricing model, which calculates multiple potential outcomes for future share prices based on historic volatility of the Common Shares to determine the probability of issuance at 18 months following the applicable valuation date and to determine the value of the Contingent Consent Warrants. The following table discloses the primary inputs into the Monte Carlo model at each valuation date, and the probability of issuance calculated by the model. Schedule of valuation date and the probability calculated. Key Valuation Input September 25, 2022 (1) September 30, 2022 (1) December 31, 2022 (1) March 31, 2023 Share price on valuation date $ 7.82 $ 10.40 $ 7.40 $ 6.36 Volatility 62.4 % 63.4 % 63.5 % 71.3 % Risk free rate 3.93 % 4.04 % 3.98 % 3.59 % Probability of issuance 59.4 % 45.5 % 62.5 % 64.5 % (1) – Share price adjusted to reflect the Reverse Stock Split. The $300 loss on debt extinguishment booked in the quarter ended March 31, 2023 represents the difference between our accrual of the minimum Consent Payment at September 25, 2022 and the actual payment made on March 17, 2023. Loss on debt extinguishment is presented as a non-operating expense in the Company’s consolidated statements of operations and comprehensive loss. This accounting also resulted in a decrease in the amount of accretion to be recognized over the remaining life of the Lind III Convertible Security through February 2023. Accretion expenses are disclosed as a part of interest expense, which is not included as a component of operating costs. Yorkville Convertible Debentures In connection with the GXII Transaction, on January 26, 2023, NioCorp entered into definitive agreements with respect to the Yorkville Financings, including a Securities Purchase Agreement, dated January 26, 2023 (as amended the “Yorkville Convertible Debt Financing Agreement”), between the Company and Yorkville, and a Standby Equity Purchase Agreement, dated January 26, 2023 (the “Yorkville Equity Facility Financing Agreement”), between the Company and Yorkville. Pursuant to the Yorkville Convertible Debt Financing Agreement, at the Closing, Yorkville advanced a total amount of $ 15,360 16,000 1,789,267 8.9422 Each Convertible Debenture issued under the Yorkville Convertible Debt Financing is an unsecured obligation of NioCorp, has an 18-month term 5 (which will increase to 15 Subject to certain limitations contained within the Yorkville Convertible Debt Financing Agreement and the Convertible Debentures, including those as described below, holders of the Convertible Debentures will be entitled to convert the principal amount of, and accrued and unpaid interest, if any, on each Convertible Debenture, in whole or in part, from time to time over their term, into a number of Common Shares equal to the quotient of the principal amount and accrued and unpaid interest, if any, being converted divided by the Conversion Price. The “Conversion Price” means, as of any Conversion Date (as defined below) or other date of determination, the greater of (i) 90% of the average of the daily U.S. dollar volume-weighted average price of the Common Shares on the principal U.S. market for the Common Shares as reported by Bloomberg Financial Markets during the five consecutive trading days immediately preceding the date on which the holder exercises its conversion right in accordance with the requirements of the Yorkville Convertible Debt Financing Agreement (the “Conversion Date”) or other date of determination, but not lower than the Floor Price (as defined below), and (ii) the five-day volume-weighted average price of the Common Shares on the TSX (or on the principal U.S. market if the majority of the trading volume and value of the Common Shares occurred on Nasdaq during the relevant period) for the five consecutive trading days immediately prior to the Conversion Date or other date of determination less the maximum applicable discount allowed by the TSX. The “Floor Price” means a price of $2.1435 per share, which is equal to the lesser of (a) 30% of the average of the daily volume-weighted average price of the Common Shares on the principal U.S. market for the Common Shares as reported by Bloomberg Financial Markets during the five consecutive trading days immediately preceding the Debenture Closing and (b) 30% of the average of the volume-weighted average price of the Common Shares on the principal U.S. market for the Common Shares as reported by Bloomberg Financial Markets during the five consecutive trading days immediately following the Debenture Closing, subject to certain adjustments to give effect to any stock dividend, stock split, reverse stock split, recapitalization or similar event. The terms of the Convertible Debentures restrict the number of Convertible Debentures that may be converted during each calendar month by Yorkville at a Conversion Price below a fixed price equal to the quotient of (i) $10.00 divided by (ii) 1.11829212 (being the number of Common Shares that were exchanged for each share of GXII at the Closing, after giving effect to the Reverse Stock Split), subject to adjustment to give effect to any stock dividend, stock split, reverse stock split, recapitalization or similar event. The Convertible Debentures are subject to customary anti-dilution adjustments. The terms of the Convertible Debentures restrict the conversion of Convertible Debentures by Yorkville if such a conversion would cause Yorkville to exceed certain beneficial ownership thresholds in NioCorp or such a conversion would cause the aggregate number of Common Shares issued pursuant to the Yorkville Convertible Debt Financing Agreement to exceed the thresholds for issuance of Common Shares under the rules of the TSX and Nasdaq, unless prior shareholder approval is obtained. Pursuant to the terms of the Convertible Debentures, following certain trigger events, and until a subsequent cure event, NioCorp will be required to redeem $1,125 aggregate principal amount of Convertible Debentures (the “Triggered Principal Amount”) each month by making cash payments to the Investors, on a pro rata basis, in an amount equal to the Triggered Principal Amount, plus accrued and unpaid interest thereon, if any, plus a redemption premium of 7% of the Triggered Principal Amount. Such monthly prepayments under the terms of the Convertible Debentures are triggered (i) at the time when NioCorp has issued 95% of the total amount of Common Shares pursuant to the Yorkville Convertible Debt Financing that it may issue under applicable TSX and Nasdaq rules or (ii) when NioCorp has delayed or suspended the effectiveness or use of the Convertible Debt Financing Registration Statement for more than 20 consecutive calendar days, and such monthly prepayment obligations will continue until, with respect to (i) above, shareholder approval is obtained or, with respect to (ii) above, the Investors may once again resell Common Shares under the Convertible Debt Financing Registration Statement, respectively. The Convertible Debentures may also be redeemed at NioCorp’s option at any time and from time to time over their term at a redemption price equal to 110 In conjunction with the issuance of the Convertible Debentures, NioCorp issued to Yorkville 1,789,267 8.9422 The Financing Warrants are exercisable, in whole or in part, but not in increments of less than $ 50 The Financing Warrants have customary anti-dilution adjustments to be determined in accordance with the requirements of the applicable stock exchanges, including the TSX. The terms of the Financing Warrants restrict the exercise of Financing Warrants by Yorkville if such an exercise would cause Yorkville to exceed certain beneficial ownership thresholds in NioCorp or such an exercise would cause the aggregate number of Common Shares issued pursuant to the Yorkville Convertible Debt Financing Agreement to exceed the thresholds for issuance of Common Shares under the rules of the TSX and Nasdaq, unless prior shareholder approval is obtained. The Financing Warrants were originally recorded as a $2,794 contingent liability on January 26, 2023, and were subsequently marked to market through March 16, 2023 ($3,337). The change in fair value during this period resulted in a loss of $633, which was booked to change in fair value of warrant liability in the Statement of Operations and Comprehensive Loss. The Financing Warrants were reclassified to shareholders equity on March 17, 2023, in connection with the closing of the Convertible Debentures as noted below. The Company allocated the net proceeds of $ 15,360 ● $ 2,704 of 4.33 0 64.6 6 18 ● $ 12,656 503 Changes in the Convertible Debentures are as follows: Amount Opening balance, March 17, 2023 12,153 Accretion expense 110 Balance, March 31, 2023 $ 12,263 The Convertible Debentures contain events of default customary for instruments of their type (with customary grace periods, as applicable) and provide that, upon the occurrence of an event of default arising from certain events of bankruptcy or insolvency with respect to NioCorp, all outstanding Convertible Debentures will become due and payable immediately without further action or notice. If any other type of event of default occurs and is continuing, then any holder may declare all of its Convertible Debentures to be due and payable immediately. The Company obtained a waiver from Yorkville with respect to any acceleration rights it may have under the Convertible Debentures in connection with the restatements of the Company's financial statements for the periods ended September 30, 2022 and December 31, 2021 and the delay in filing the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023. Based on the Company’s closing Common Share price of $ 6.36 approximately 2,723,500 Common Shares. For each $0.10 change in the fair value of one Common Share, the total shares the Company would be obligated to issue would change by approximately 42,300 The Yorkville Convertible Debt Financing Agreement also contains certain covenants that, among other things, limit NioCorp’s ability to use the proceeds from the Yorkville Convertible Debt Financing to repay related party debt or to enter into any variable rate transaction other than with Yorkville, subject to certain exceptions. Yorkville Equity Facility Financing Concurrent with the closing of the Recapitalization Transaction, the Yorkville Equity Facility Financing became effective. Pursuant to the Yorkville Equity Facility Financing Agreement, Yorkville has committed to purchase up to $ 65,000 97 Pursuant to the terms of the Yorkville Equity Facility Financing Agreement, NioCorp issued 81,213 650 1,500 500 12 496 Schedule of expenses as other operating costs Amount Yorkville Cash Fee $ 1,500 Fair value of Commitment Shares issued 650 Legal and other related costs 496 Net costs expensed to other operating expense $ 2,646

CLASS B COMMON STOCK OF ECRC

CLASS B COMMON STOCK OF ECRC	9 Months Ended
	Mar. 31, 2023
Class B Common Stock Of Ecrc
CLASS B COMMON STOCK OF ECRC	9. CLASS B COMMON STOCK OF ECRC Pursuant to the Business Combination Agreement, the Sponsor Support Agreement, and the Exchange Agreement, after the Closing, the GXII founders have the right to exchange shares of Class B common stock of ECRC for Common Shares on a one-for-one basis, subject to certain equitable adjustments, under certain conditions. All 7,957,404 4,565,808 3,391,596 All of the shares of Class B common stock of ECRC are subject to the Amended and Restated Registration Rights Agreement, dated as of March 17, 2023 (the “Registration Rights and Lock-up Agreement”), among NioCorp, GXII, the Sponsor, the pre-Closing directors and officers of NioCorp and the other parties thereto, including the members of the Sponsor. Pursuant to Registration Rights and Lock-up Agreement, all shares of Class B common Stock of ECRC (including the Vested Shares and the Released Earnout Shares) are subject to certain “lock-up” restrictions on transfer beginning upon the Closing and ending upon the earlier of (i) one year after the Closing and (ii) the date on which the trading price of Common Shares exceeds certain thresholds or the date on which NioCorp completes a transaction that results in all of NioCorp’s shareholders having the right to exchange their Common Shares for cash, securities or other property. Both Vested Shares and Released Earnout Shares Vested Shares As the exchange of Vested Shares are contingently redeemable at the option of the noncontrolling interest shareholders, the Company classifies the carrying amount of the redeemable noncontrolling interest in the mezzanine section on the consolidated balance sheet, which is presented above the equity section and below liabilities. The redeemable noncontrolling interests are classified as a Level 1 financial instrument and are measured at the fair value of the Company’s Common Shares at each reporting period. Adjustments to the carrying value of the redeemable noncontrolling interest are recorded through retained earnings. Earnout Shares The Earnout Shares vest (the “Released Earnout Shares”) in two equal tranches based upon achieving market share price milestones of approximately $12.00 per Common Share and approximately $15.00 per Common Share, respectively, prior to the Ten-Year Anniversary, or upon a change in control as defined in the underlying agreement. The Earnout Shares were classified as a liability due to failure to meet the equity classification criteria under ASC 815-40, as Level 3 instruments under the fair value hierarchy and are considered a financial liability under ASC 480, Distinguishing Liabilities from Equity. The Earnout Shares were measured at fair value on the Closing Date with subsequent changes in fair value recorded in earnings. The Earnout Shares were valued utilizing a Monte Carlo simulation pricing model, which calculates multiple potential outcomes for future share prices and establishes current fair value based on the most likely outcome. The following table discloses the primary inputs into the Monte Carlo models. The following table discloses the primary inputs into the Monte Carlo models. Key Valuation Input Transaction Close March 31, 2023 Closing Common Share price $7.00 $6.36 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 19.5 23.5 Risk-free rate 3.39 3.48 The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the period ended March 31, 2023: Amount Fair value as of March 17, 2023 $ 13,195 Change in fair value (881 ) Fair value as of March 31, 2023 $ 12,314

COMMON SHARES

COMMON SHARES	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
COMMON SHARES	10. COMMON SHARES a) Stock Options Schedule of stock option Number of Options Weighted Average Exercise Price Balance, June 30, 2022 1,446,400 C$ 8.30 Granted 578,000 9.52 Exercised (265,129 ) 4.99 Cancelled/expired (197,771 ) 5.09 Balance, March 31, 2023 1,561,500 C$ 9.69 The following table summarizes information about Options outstanding at March 31, 2023: Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$ 8.40 September 18, 2023 105,000 C$ 18 105,000 C$ 18 C$ 5.40 November 15, 2023 208,500 661 208,500 661 C$ 7.50 December 14, 2023 170,000 182 170,000 182 C$ 7.50 December 16, 2023 52,500 56 52,500 56 C$ 13.60 December 17, 2024 397,500 - 397,500 - C$ 11.00 May 30, 2025 50,000 - 50,000 - C$ 9.52 March 27, 2026 578,000 - 578,000 - 1,561,500 C$ 917 1,561,500 C$ 917 The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing Common Share price of C$ 8.57 0 b) Warrants Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2022 1,851,622 $ 8.99 Granted (1) 17,455,893 11.24 Exercised - - Cancelled/expired (50,000 ) 5.91 Balance, March 31, 2023 19,257,515 $ 10.99 (1) Includes 15,666,626 NioCorp Assumed Warrants assumed in connection with the Closing of the Transactions discussed below. At March 31, 2023, the Company had outstanding exercisable Warrants, as follows: Schedule of outstanding exercisable warrants Number Exercise Price Expiry Date 441,211 C$ 16.30 May 10, 2023 504,611 C$ 11.00 June 30, 2024 855,800 C$ 9.70 February 19, 2025 1,789,267 US$ 8.94 (1) 15,666,626 US$ 11.50 March 17, 2028 19,257,515 (1) Represents the Financing Warrants, 1/12th of which will expire on each of the first 12 monthly anniversaries of the date that is six months following the Closing Date. In connection with the Closing, pursuant to the Business Combination Agreement, the Company assumed the GXII Warrant Agreement and each GXII Warrant thereunder that was issued and outstanding immediately prior to the Closing Date was converted into one NioCorp Assumed Warrant pursuant to the GXII Warrant Agreement, as amended by an Assignment, Assumption and Amendment Agreement, dated March 17, 2023, among the Company, GXII, Continental Stock Transfer & Trust Company, as the existing warrant agent, and Computershare Inc. and its affiliate, Computershare Trust Company, N.A, together as the successor warrant agent (the “NioCorp Assumed Warrant Agreement”). In connection with the Closing, NioCorp issued (a) 9,999,959 5,666,667 Each NioCorp Assumed Warrant entitles the holder to the right to purchase 1.11829212 Common Shares at an exercise price of $11.50 per 1.11829212 Common Shares (subject to adjustments for stock splits, stock dividends, reorganizations, recapitalizations and the like). Public Warrants The Company may elect to redeem the Public Warrants subject to certain conditions, in whole and not in part, at a price of $0.01 per Public Warrant if (i) 30 days’ prior written notice of redemption is provided to the holders, (ii) the last reported sale price of the Common Shares equals or exceeds approximately $16.10 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third business day prior to the date on which the Company sends the notice of redemption to the warrant holders and (iii) there is an effective registration statement covering the Common Shares issuable upon exercise of the Public Warrants, and a current prospectus relating thereto, available through the redemption date. Upon issuance of a redemption notice by the Company, the warrant holders will have until the redemption date to exercise for cash, or, at the Company’s election, on a cashless basis. The Public Warrants are not precluded from equity classification and are accounted for as such on the date of issuance, and each balance sheet date thereafter. Because the Transactions resulted in an excess of liabilities over assets acquired, no value was ascribed to the Public Warrants. Private Warrants The Private Warrants: (i) will be exercisable either for cash or on a cashless basis at the holder’s option and (ii) will not be redeemable by the Company, in either case as long as the Private Warrants are held by the Sponsor, its members or any of their permitted transferees (as prescribed in the NioCorp Assumed Warrant Agreement). In accordance with the NioCorp Assumed Warrant Agreement, any Private Warrants that are held by someone other than the Sponsor, its members or any their permitted transferees are treated as Public Warrants. The Company accounts for the Private Warrants assumed in the Transactions in accordance with the guidance contained in ASC 815-40. Such guidance provides that because the Private Warrants do not meet the criteria for equity treatment thereunder, each Private Warrant must be recorded as a liability. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to its current fair value, with the change in fair value recognized in the Company’s statement of operations. The Company will reassess the classification at each balance sheet date. The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions: Key Valuation Input March 17, 2023 March 31, 2023 Stock price on valuation date $ 7.00 $ 6.36 Strike price $ 10.28 $ 10.28 Implied volatility of Public Warrants 19.5 % 23.5 % Risk free rate 3.47 % 3.61 % Dividend yield 0 % 0 % Changes in the fair value of the Private Warrants are shown below: Amount Initial valuation, March 17, 2023 $ 3,848 Change in valuation (70 ) Valuation at March 31, 2023 $ 3,778

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	11. RELATED PARTY TRANSACTIONS AND BALANCES Borrowings under the non-revolving credit facility agreement (the “Smith Credit Facility”) with Mark Smith, Chief Executive Officer, President, and Executive Chairman of NioCorp, bear interest at a rate of 10 2.5 4,000 3,500 1,130 On March 22, 2023, the Company repaid Mr. Smith $2,000, representing $159 of interest and $1,841 of principal borrowed under the Smith Credit Facility. This repayment was made out of funds transferred to the Company from the GXII trust account on the Closing Date. As of March 31, 2023, the principal amount outstanding under the Smith Credit Facility was $1,289 and accounts payable and accrued liabilities as of March 31, 2023, include accrued interest of $3 and $28 of origination fees payable under the Smith Credit Facility.

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	9 Months Ended
	Mar. 31, 2023
Extractive Industries [Abstract]
EXPLORATION EXPENDITURES	12. EXPLORATION EXPENDITURES Schedule of exploration expenditures For the Three Months Ended For the Nine Months Ended 2023 2022 2023 2022 Technical studies and engineering $ 85 $ 45 $ 222 $ 179 Field management and other 195 139 588 420 Metallurgical development 1,130 625 3,203 1,211 Geologists and field staff - 36 2 147 Total $ 1,410 $ 845 $ 4,015 $ 1,957

LEASES

LEASES	9 Months Ended
	Mar. 31, 2023
Leases
LEASES	13. LEASES The Company incurred lease costs as follows: For the Three Months Ended For the Nine Months Ended 2023 2022 2023 2022 Operating Lease Cost: Fixed rent expense $ 15 $ 23 $ 60 $ 66 Variable rent expense 3 2 9 7 Short-term lease cost 3 4 7 12 Sublease income (6 ) (8 ) (24 ) (23 ) Net lease cost – other operating expense $ 15 $ 21 $ 52 $ 62 The maturities of lease liabilities are as follows at March 31, 2023: Future Lease Maturities Total remaining lease payments $ 338 Less portion of payments representing interest (91 ) Present value of lease payments 247 Less current portion of lease payments (70 ) Non current lease liability 177 Effective February 21, 2023, the Company executed an amendment to its existing office lease agreement, extending the lease for 39 months through January 31, 2027.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2023
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, including investments in equity securities, 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 March 31, 2023, and June 30, 2022, respectively, and indicate 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 include 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 March 31, 2023 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,145 $ 7,145 $ - $ - Investment in equity securities 7 7 - - Total $ 7,152 $ 7,152 $ - $ - Liabilities: Earnout Shares liability $ 12,314 $ - $ - $ 12,314 Warrants liabilities 5,303 - 3,778 1,525 Total $ 17,617 $ - $ 3,778 $ 13,839 As of June 30, 2022 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 5,280 $ 5,280 $ - $ - Investment in equity securities 10 10 - - Total $ 5,290 $ 5,290 $ - $ - The Yorkville Convertible Debt Financing

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS On April 28, 2023, the Company issued and sold 314,465 6.36 1,800

BASIS OF PREPARATION (Policies)

BASIS OF PREPARATION (Policies)	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation and Consolidation	a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries with all significant intercompany transactions eliminated. The accounting policies followed in preparing these interim condensed consolidated financial statements are those used by the Company as set out in the audited consolidated financial statements for the year ended June 30, 2022. Certain transactions include reference to Canadian dollars (“C$”) where applicable. In the opinion of management, all adjustments considered necessary (including normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at March 31, 2023, and for all periods presented, have been included in these interim condensed consolidated financial statements. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to appropriate SEC rules and regulations. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended June 30, 2022. The interim results are not necessarily indicative of results for the full year ending June 30, 2023, or future operating periods.
Recent Accounting Standards	b) Recent Accounting Standards Issued and Adopted In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“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 adopted ASU 2020-06 on July 1, 2022, with no material effect on the Company’ s current financial position, results of operations or financial statement disclosures. Issued and Not Effective 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.
Use of Estimates	c) 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, convertible debt valuations, earnout valuation, warrant liabilities, 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.
Basic and Diluted Earnings per Share	d) Basic and Diluted Earnings per Share Basic earnings (loss) per share represents net earnings (loss) attributable to common shareholders divided by the weighted average number of Common Shares outstanding during the period. The Company considers Vested Shares and Released Earnout Shares (each as defined in Note 9), to be participating securities, requiring the use of the two-class method. Diluted earnings per share represents net earnings attributable to common shareholders divided by the weighted average number of Common Shares outstanding, inclusive of the dilutive impact of all potentially dilutive securities outstanding during the period, as applicable. The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and nine months ended March 31, 2023: For the three months ended March 31, For the nine months ended March 31, 2023 2022 2023 2022 Numerator: Net loss $ 29,435 $ 2,000 $ 35,741 $ 8,080 Adjust: Net loss attributable to noncontrolling interest (56 ) - (43 ) - Net loss available to participating securities 29,379 2,000 35,698 8,080 Net loss attributable to Vested Shares (708 ) - (271 ) - Net loss attributed to common shareholders - basic and diluted $ 28,671 $ 2,000 $ 35,427 $ 8,080 Denominator: Weighted average shares outstanding – basic and diluted 28,546,379 26,576,440 28,128,731 26,172,981 Loss per Common Share outstanding – basic and diluted $ 1.00 $ 0.08 $ 1.26 $ 0.31 The following shares underlying Options, Warrants, outstanding convertible debt and redeemable noncontrolling interest shares were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three- and nine-month periods ended March 31, 2023 and 2022, as indicated below. Schedule of excluded from the dilutive securities For the three and nine months ended 2023 2022 Excluded potentially dilutive securities (1)(2) Options 1,561,500 1,408,900 Warrants 19,257,515 1,347,011 Convertible debt 2,723,500 632,900 Total potential dilutive securities 23,542,515 3,388,811 ( 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 (2) Earnout Shares (as defined below) are excluded as the vesting terms were not met as of the end of the reporting period.
Reverse Stock Split	e) Reverse Stock Split On March 17, 2023, the Company effected a reverse stock split (the “Reverse Stock Split”) on the basis of one (1) post-Reverse Stock Split Common Share for every ten (10) pre-Reverse Stock Split Common Shares issued and outstanding, with any fractional shares resulting from the Reverse Stock Split rounded down to the nearest whole share. Immediately after the Reverse Stock Split, there were 30,000,442
Redeemable Noncontrolling Interest	f) Redeemable Noncontrolling Interest Redeemable Noncontrolling Interest refers to non-controlling interest associated with the Vested Shares that are redeemable upon the occurrence of an event that is not solely within the Company’s control and is reported in the mezzanine section between total liabilities and shareholders’ deficit, as temporary equity in the Company’s consolidated balance sheets. The Company adjusts the Redeemable Noncontrolling Interest balance to reflect its estimate of the maximum redemption amount each reporting period. The Company’s non-controlling interest is redeemable at fair value, and no adjustment to the earnings per share numerator is required because redemption at fair value is not considered an economic distribution different from other common stockholders.
Foreign Currency Translation and Functional Currency Conversion	g) Foreign Currency Translation and Functional Currency Conversion Items included in these interim condensed consolidated financial statements of each of the Company and the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which the entities operate (the “functional currency”). Prior to March 17, 2023, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss. The Company re-assessed its functional currency and determined that on March 17, 2023, its functional currency changed from the Canadian dollar to the U.S. dollar based on significant changes in economic facts and circumstances in our organization. The change in functional currency was accounted for prospectively from March 17, 2023 and prior-period financial statements were not restated for the change in functional currency. For both monetary and non-monetary assets and liabilities, translated balances as of March 17, 2023 became the new accounting basis. The exchange rate on the date of change became the historical rate at which non-monetary assets and liabilities were translated in subsequent periods. There was no effect on the cumulative translation adjustment on the consolidated basis. Previously recorded cumulative translation adjustments were not reversed. For periods commencing after March 17, 2023, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after March 17, 2023 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transactions. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains. The functional currency for the Company’s Canadian subsidiary, 0896800 BC Ltd., which has no independent operations from its parent, also changed from the Canadian dollar to the U.S. dollar. The functional currency for Elk Creek Resources Corp. remains as the U.S. dollar.

BASIS OF PREPARATION (Tables)

BASIS OF PREPARATION (Tables)	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and nine months ended March 31, 2023:	The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and nine months ended March 31, 2023: For the three months ended March 31, For the nine months ended March 31, 2023 2022 2023 2022 Numerator: Net loss $ 29,435 $ 2,000 $ 35,741 $ 8,080 Adjust: Net loss attributable to noncontrolling interest (56 ) - (43 ) - Net loss available to participating securities 29,379 2,000 35,698 8,080 Net loss attributable to Vested Shares (708 ) - (271 ) - Net loss attributed to common shareholders - basic and diluted $ 28,671 $ 2,000 $ 35,427 $ 8,080 Denominator: Weighted average shares outstanding – basic and diluted 28,546,379 26,576,440 28,128,731 26,172,981 Loss per Common Share outstanding – basic and diluted $ 1.00 $ 0.08 $ 1.26 $ 0.31
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities For the three and nine months ended 2023 2022 Excluded potentially dilutive securities (1)(2) Options 1,561,500 1,408,900 Warrants 19,257,515 1,347,011 Convertible debt 2,723,500 632,900 Total potential dilutive securities 23,542,515 3,388,811 ( 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 (2) Earnout Shares (as defined below) are excluded as the vesting terms were not met as of the end of the reporting period.

RESTATEMENTS (Tables)

RESTATEMENTS (Tables)	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule Of Extinguishment Of Debt	Schedule Of Extinguishment Of Debt Amount Minimum Consent Payment at inception $ 200 Debt extinguishment fair value adjustment 201 Initial fair value of Contingent Consent Warrants 1,221 Total loss on debt extinguishment $ 1,622
Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited)	Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of September 30, 2022 As Previously Reported Restatement Impacts Restated Deferred transaction costs $ 2,809 $ (200 ) $ 2,609 Total assets 23,246 (200 ) 23,046 Convertible debt 755 159 914 Total current liabilities 6,511 159 6,670 Warrant liability - 964 964 Total liabilities 6,511 1,123 7,634 Accumulated deficit (112,951 ) (1,323 ) (114,274 ) Total shareholders’ equity 16,735 (1,323 ) 15,412 Total liabilities and equity 23,246 (200 ) 23,046 Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) As of December 31, 2022 As Previously Reported Restatement Impacts Restated Deferred transaction costs $ 4,338 $ (200 ) $ 4,138 Total assets 21,901 (200 ) 21,701 Convertible debt 502 39 541 Total current liabilities 7,088 39 7,127 Warrant liability - 1,305 1,305 Total liabilities 7,088 1,344 8,432 Accumulated deficit (115,159 ) (1,544 ) (116,703 ) Total shareholders’ equity 14,813 (1,544 ) 13,269 Total liabilities and equity 21,901 (200 ) 21,701
Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited)	Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended September 30, 2022 As Previously Reported Restatement Impacts Restated Interest expense $ 300 $ (42 ) $ 258 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - (257 ) (257 ) Loss before income taxes 2,554 1,323 3,877 Net loss 2,554 1,323 3,877 Total comprehensive loss 2,559 1,323 3,882 Loss per share $ 0.09 $ 0.05 $ 0.14 Weighted average shares outstanding, on post-reverse stock split basis 27,792,632 - 27,792,632 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated Interest expense (income) $ 82 $ (120 ) $ (38 ) Change in fair value of warrant liability - 341 341 Loss before income taxes 2,208 221 2,429 Net loss 2,208 221 2,429 Total comprehensive loss 2,233 221 2,454 Loss per share $ 0.08 $ 0.01 $ 0.09 Weighted average shares outstanding, on post-reverse stock split basis 28,056,263 - 28,056,263 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Six Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated Interest expense $ 382 $ (162 ) $ 220 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - 84 84 Loss before income taxes 4,762 1,544 6,306 Net loss 4,762 1,544 6,306 Total comprehensive loss 4,792 1,544 6,336 Loss per share $ 0.17 $ 0.06 $ 0.23 Weighted average shares outstanding, on post-reverse stock split basis 27,924,227 - 27,924,227 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated Foreign exchange gain $ (48 ) $ (18 ) $ (66 ) Interest expense 477 202 679 Loss before income taxes 1,816 184 2,000 Net loss 1,816 184 2,000 Reporting currency translation 18 20 38 Total comprehensive loss 1,834 204 2,038 Loss per share $ 0.07 $ 0.01 $ 0.08 Weighted average shares outstanding, on post-reverse stock split basis 26,576,440 - 26,576,440 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Nine Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated Foreign exchange loss $ 101 $ (3 ) $ 98 Interest expense 1,457 849 2,306 Loss before income taxes 7,234 846 8,080 Net loss 7,234 846 8,080 Reporting currency translation (76 ) 4 (72 ) Total comprehensive loss 7,158 850 8,008 Loss per share $ 0.28 $ 0.03 $ 0.31 Weighted average shares outstanding, on post-reverse stock split basis 26,172,981 - 26,172,981
Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited)	Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Three Months Ended September 30, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period $ (2,554 ) $ (1,323 ) $ (3,877 ) Accretion of convertible debt 236 (42 ) 194 Loss on debt extinguishment - 1,622 1,622 Change in fair value of warrant liability - (257 ) (257 ) Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Six Months Ended December 31, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period $ (4,762 ) $ (1,544 ) $ (6,306 ) Accretion of convertible debt 283 (162 ) 121 Loss on debt extinguishment - 1,622 1,622 Change in financial instrument fair value - 84 84 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Nine Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Total loss for the period $ (7,234 ) $ (846 ) $ (8,080 ) Accretion of convertible debt 1,300 849 2,149 Foreign exchange loss 151 (3 ) 148
Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited)	Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) As of September 30, 2022 Common Accumulated Accumulated Total As Previously Reported Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Debt conversions 1,650 - - 1,650 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (5 ) (5 ) Loss for the period As restated (a) - (2,554 ) - (2,554 ) Balance, September 30, 2022 As restated (a) $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period As restated (a) - (1,323 ) - (1,323 ) Balance, September 30, 2022 As restated (a) $ - $ (1,323 ) $ - $ (1,323 ) As Adjusted Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Debt conversions 1,650 - - 1,650 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (5 ) (5 ) Loss for the period As restated (a) - (3,877 ) - (3,877 ) Balance, September 30, 2022 As restated (a) $ 130,684 $ (114,274 ) $ (998 ) $ 15,412 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Three Months Ended December 31, 2022 Common Accumulated Accumulated Total As Previously Reported Balance, September 30, 2022 $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Exercise of options 11 - 11 Debt conversions 300 - - 300 Reporting currency translation - - (25 ) (25 ) Loss for the period As restated (a) - (2,208 ) - (2,208 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, September 30, 2022 $ - $ (1,323 ) $ - $ (1,323 ) Loss for the period As restated (a) - (221 ) - (221 ) Balance, December 31, 2022 As restated (a) $ - $ (1,544 ) $ - $ (1,544 ) As Adjusted Balance, September 30, 2022 $ 130,684 $ (114,274 ) $ (998 ) $ 15,412 Exercise of options 11 - 11 Debt conversions 300 - - 300 Reporting currency translation - - (25 ) (25 ) Loss for the period As restated (a) - (2,429 ) - (2,429 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Six Months Ended December 31, 2022 Common Shares Accumulated Accumulated Other Comprehensive Loss Total As Previously Reported Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Exercise of warrants 11 - - 11 Debt conversions 1,950 - - 1,950 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (30 ) (30 ) Loss for the period As restated (a) - (4,762 ) - (4,762 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period As restated (a) - (1,544 ) - (1,544 ) Balance, December 31, 2022 As restated (a) $ - $ (1,544 ) $ - $ (1,544 ) As Adjusted Balance, June 30, 2022 $ 129,055 $ (110,397 ) $ (993 ) $ 17,665 Exercise of warrants 11 - - 11 Debt conversions 1,950 - - 1,950 Share issuance costs (21 ) - - (21 ) Reporting currency translation - - (30 ) (30 ) Loss for the period As restated (a) - (6,306 ) - (6,306 ) Balance, December 31, 2022 As restated (a) $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Three Months Ended March 31, 2022 As Previously Reported Restatement Impacts Restated December 31, 2021 opening balance adjustments: Deficit $ (104,494 ) $ (1,096 ) $ (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total Shareholders’ equity 15,392 (1,096 ) 14,296 Activity adjustments: Loss for the period (1,816 ) (184 ) (2,000 ) Reporting currency translation (18 ) (20 ) (38 ) March 31, 2022 ending balance adjustments: Deficit (106,310 ) (1,280 ) (107,590 ) Accumulated other comprehensive loss (1,067 ) (20 ) (1,087 ) Total equity 15,668 (1,300 ) 14,368 Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) For the Nine Months Ended March 31, 2022 Deficit Restatement Impacts Restated June 30, 2021 balances as previously reported Deficit $ (99,076 ) $ (434 ) $ (99,510 ) Accumulated other comprehensive loss (1,143 ) (16 ) (1,159 ) Total Shareholders’ equity 13,663 (450 ) 13,213 Activity adjustments: Loss for the period (7,234 ) (846 ) (8,080 ) Reporting currency translation 76 (4 ) 72 March 31, 2022 ending balance adjustments: Deficit (106,310 ) (1,280 ) (107,590 ) Accumulated other comprehensive loss (1,067 ) (20 ) (1,087 ) Total equity 15,668 (1,300 ) 14,368

GXII TRANSACTION (Tables)

GXII TRANSACTION (Tables)	9 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
The following table summarizes the elements of the GXII Transaction allocated to the Consolidated Statements of Operations:	After the distribution of funds to GXII redeeming shareholders and prior to paying transaction costs incurred by GXII, $ 15,676 The following table summarizes the elements of the GXII Transaction allocated to the Consolidated Statements of Operations: Amount Gross cash proceeds, net of transaction costs incurred by GXII $ 2,168 Less: Net liabilities assumed 392 Warrants assumed at fair value 3,848 Earnout Shares assumed at fair value 13,195 Transaction costs expensed 6,309 Net costs allocated to other operating expense $ 21,576
The number of Common Shares issued and outstanding immediately following the consummation of the Transactions were as follows:	The number of Common Shares issued and outstanding immediately following the consummation of the Transactions were as follows: Common Shares Percentage Legacy NioCorp Shareholders 28,246,621 93.90 % Former GXII Class A Shareholders 1 1,753,821 5.83 % Other 2 81,213 0.27 % Total Common Shares Outstanding Upon Completion of Transactions 30,081,655 100 % 1 Includes 83,770 Common Shares issued to BTIG, LLC in exchange for Class A shares of GXII that it received as partial payment for advisory services.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities	Schedule of account payable and accrued liabilities As of Note March 31, 2023 June 30, 2022 Accounts payable, trade $ 926 $ 115 Accounts payable accruals 2,055 654 Taxes payable 259 - Interest and fees payable to related party 11 31 - Other accruals 48 48 Total accounts payable and accrued liabilities $ 3,319 $ 817

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Changes in the Lind III Convertible Security are as follows	Changes in the Lind III Convertible Security are as follows Lind III Balance, June 30, 2022 $ 2,169 Fair value increase due to debt extinguishment 201 Accretion expense 95 Conversions (1,950 ) Payment at maturity (515 ) Balance, March 31, 2023 $ -
The following table summarizes the components of the initial loss on extinguishment:	The following table summarizes the components of the initial loss on extinguishment: Component of loss Amount Minimum Consent Payment at inception $ 200 Loss on debt extinguishment 201 Initial fair value of Contingent Consent Warrants 1,221 Initial loss on debt extinguishment $ 1,622
Changes in the fair value of the Contingent Consent Warrants are presented below:	Changes in the fair value of the Contingent Consent Warrants are presented below: Amount Initial valuation, September 25, 2022 $ 1,221 Change in valuation (257 ) Valuation at September 30, 2022 964 Change in valuation 341 Valuation at December 31, 2022 1,305 Change in valuation 220 Valuation at March 31, 2023 $ 1,525
Schedule of valuation date and the probability calculated.	Schedule of valuation date and the probability calculated. Key Valuation Input September 25, 2022 (1) September 30, 2022 (1) December 31, 2022 (1) March 31, 2023 Share price on valuation date $ 7.82 $ 10.40 $ 7.40 $ 6.36 Volatility 62.4 % 63.4 % 63.5 % 71.3 % Risk free rate 3.93 % 4.04 % 3.98 % 3.59 % Probability of issuance 59.4 % 45.5 % 62.5 % 64.5 % (1) – Share price adjusted to reflect the Reverse Stock Split.
Changes in the Convertible Debentures are as follows:	Changes in the Convertible Debentures are as follows: Amount Opening balance, March 17, 2023 12,153 Accretion expense 110 Balance, March 31, 2023 $ 12,263
Schedule of expenses as other operating costs	Schedule of expenses as other operating costs Amount Yorkville Cash Fee $ 1,500 Fair value of Commitment Shares issued 650 Legal and other related costs 496 Net costs expensed to other operating expense $ 2,646

CLASS B COMMON STOCK OF ECRC (T

CLASS B COMMON STOCK OF ECRC (Tables)	9 Months Ended
	Mar. 31, 2023
Class B Common Stock Of Ecrc
The following table discloses the primary inputs into the Monte Carlo models.	The following table discloses the primary inputs into the Monte Carlo models. Key Valuation Input Transaction Close March 31, 2023 Closing Common Share price $7.00 $6.36 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 19.5 23.5 Risk-free rate 3.39 3.48
The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the period ended March 31, 2023:	The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the period ended March 31, 2023: Amount Fair value as of March 17, 2023 $ 13,195 Change in fair value (881 ) Fair value as of March 31, 2023 $ 12,314

COMMON SHARES (Tables)

COMMON SHARES (Tables)	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of stock option	Schedule of stock option Number of Options Weighted Average Exercise Price Balance, June 30, 2022 1,446,400 C$ 8.30 Granted 578,000 9.52 Exercised (265,129 ) 4.99 Cancelled/expired (197,771 ) 5.09 Balance, March 31, 2023 1,561,500 C$ 9.69
The following table summarizes information about Options outstanding at March 31, 2023:	The following table summarizes information about Options outstanding at March 31, 2023: Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$ 8.40 September 18, 2023 105,000 C$ 18 105,000 C$ 18 C$ 5.40 November 15, 2023 208,500 661 208,500 661 C$ 7.50 December 14, 2023 170,000 182 170,000 182 C$ 7.50 December 16, 2023 52,500 56 52,500 56 C$ 13.60 December 17, 2024 397,500 - 397,500 - C$ 11.00 May 30, 2025 50,000 - 50,000 - C$ 9.52 March 27, 2026 578,000 - 578,000 - 1,561,500 C$ 917 1,561,500 C$ 917
Schedule of warrant transactions	Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2022 1,851,622 $ 8.99 Granted (1) 17,455,893 11.24 Exercised - - Cancelled/expired (50,000 ) 5.91 Balance, March 31, 2023 19,257,515 $ 10.99 (1) Includes 15,666,626 NioCorp Assumed Warrants assumed in connection with the Closing of the Transactions discussed below.
Schedule of outstanding exercisable warrants	At March 31, 2023, the Company had outstanding exercisable Warrants, as follows: Schedule of outstanding exercisable warrants Number Exercise Price Expiry Date 441,211 C$ 16.30 May 10, 2023 504,611 C$ 11.00 June 30, 2024 855,800 C$ 9.70 February 19, 2025 1,789,267 US$ 8.94 (1) 15,666,626 US$ 11.50 March 17, 2028 19,257,515 (1) Represents the Financing Warrants, 1/12th of which will expire on each of the first 12 monthly anniversaries of the date that is six months following the Closing Date.
The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions:	The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions: Key Valuation Input March 17, 2023 March 31, 2023 Stock price on valuation date $ 7.00 $ 6.36 Strike price $ 10.28 $ 10.28 Implied volatility of Public Warrants 19.5 % 23.5 % Risk free rate 3.47 % 3.61 % Dividend yield 0 % 0 %
Changes in the fair value of the Private Warrants are shown below:	Changes in the fair value of the Private Warrants are shown below: Amount Initial valuation, March 17, 2023 $ 3,848 Change in valuation (70 ) Valuation at March 31, 2023 $ 3,778

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	9 Months Ended
	Mar. 31, 2023
Extractive Industries [Abstract]
Schedule of exploration expenditures	Schedule of exploration expenditures For the Three Months Ended For the Nine Months Ended 2023 2022 2023 2022 Technical studies and engineering $ 85 $ 45 $ 222 $ 179 Field management and other 195 139 588 420 Metallurgical development 1,130 625 3,203 1,211 Geologists and field staff - 36 2 147 Total $ 1,410 $ 845 $ 4,015 $ 1,957

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Mar. 31, 2023
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the Three Months Ended For the Nine Months Ended 2023 2022 2023 2022 Operating Lease Cost: Fixed rent expense $ 15 $ 23 $ 60 $ 66 Variable rent expense 3 2 9 7 Short-term lease cost 3 4 7 12 Sublease income (6 ) (8 ) (24 ) (23 ) Net lease cost – other operating expense $ 15 $ 21 $ 52 $ 62
The maturities of lease liabilities are as follows at March 31, 2023:	The maturities of lease liabilities are as follows at March 31, 2023: Future Lease Maturities Total remaining lease payments $ 338 Less portion of payments representing interest (91 ) Present value of lease payments 247 Less current portion of lease payments (70 ) Non current lease liability 177

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2023
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 March 31, 2023 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 7,145 $ 7,145 $ - $ - Investment in equity securities 7 7 - - Total $ 7,152 $ 7,152 $ - $ - Liabilities: Earnout Shares liability $ 12,314 $ - $ - $ 12,314 Warrants liabilities 5,303 - 3,778 1,525 Total $ 17,617 $ - $ 3,778 $ 13,839 As of June 30, 2022 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 5,280 $ 5,280 $ - $ - Investment in equity securities 10 10 - - Total $ 5,290 $ 5,290 $ - $ -

The following table sets forth

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and nine months ended March 31, 2023: (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 29,435			$ 2,000		$ 35,741	$ 8,080
Adjust: Net loss attributable to noncontrolling interest	(56)					(43)
Net Loss available to participating securities	29,379			2,000		35,698	8,080
Net loss attributable to Vested Shares	(708)					(271)
Net loss attributed to common shareholders - basic and diluted	$ 28,671			$ 2,000		$ 35,427	$ 8,080
Weighted average shares outstanding basic and diluted	28,546,379			26,576,440		28,128,731	26,172,981
Loss per Common Share outstanding basic and diluted	$ 1	$ 0.09	$ 0.14	$ 0.08	$ 0.23	$ 1.26	$ 0.31

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - shares	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options	1,561,500	1,408,900
Warrants	19,257,515	1,347,011
Convertible debt	2,723,500	632,900
Total potential dilutive securities	23,542,515	3,388,811

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	9 Months Ended
	Mar. 31, 2023 Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

BASIS OF PREPARATION (Details N

BASIS OF PREPARATION (Details Narrative) - shares	Mar. 31, 2023	Mar. 17, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split common shares issued		30,000,442
Reverse stock split common shares outstanding	30,081,655	30,000,442	27,667,060

Schedule Of Extinguishment Of D

Schedule Of Extinguishment Of Debt (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Minimum Consent Payment at inception	$ 200
Debt extinguishment fair value adjustment	201
Initial fair value of Contingent Consent Warrants	1,221
Total loss on debt extinguishment	$ 1,622

Restatement Impacts to the Cond

Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021
Deferred transaction costs		$ 4,138	$ 2,609
Total assets	$ 24,456	21,701	23,046	$ 22,756
Convertible debt		541	914	2,169
Total current liabilities	4,678	7,127	6,670	5,068
Warrant liability	5,303	1,305	964
Total liabilities	34,735	8,432	7,634	5,091
Accumulated deficit	(146,046)	(116,703)	(114,274)	(110,397)
Total shareholders’ equity	(12,512)	13,269	15,412	17,665	$ 14,368	$ 14,296	$ 13,213
Total liabilities and equity	$ 24,456	21,701	23,046	22,756
Previously Reported [Member]
Deferred transaction costs		4,338	2,809
Total assets		21,901	23,246
Convertible debt		502	755
Total current liabilities		7,088	6,511
Warrant liability
Total liabilities		7,088	6,511
Accumulated deficit		(115,159)	(112,951)
Total shareholders’ equity		14,813	16,735	17,665	15,668	15,392	13,663
Total liabilities and equity		21,901	23,246
Revision of Prior Period, Adjustment [Member]
Deferred transaction costs		(200)	(200)
Total assets		(200)	(200)
Convertible debt		39	159
Total current liabilities		39	159
Warrant liability		1,305	964
Total liabilities		1,344	1,123
Accumulated deficit		(1,544)	(1,323)
Total shareholders’ equity		(1,544)	(1,323)		$ (1,300)	$ (1,096)	$ (450)
Total liabilities and equity		$ (200)	$ (200)

Restatement Impacts to the Co_2

Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Interest expense		$ (38)	$ 258	$ 679	$ 220		$ 2,306
Loss on debt extinguishment	$ 300		1,622			$ 1,922
Change in fair value of warrant liability	$ 784	341	(257)		84	$ 868
Loss before income taxes		2,429	(3,877)	2,000	6,306		8,080
Net loss		2,429	3,877	2,000	6,306		8,080
Total comprehensive loss		$ (2,454)	$ 3,882	$ 2,038	$ (6,336)		$ 8,008
Loss per share	$ 1	$ 0.09	$ 0.14	$ 0.08	$ 0.23	$ 1.26	$ 0.31
Weighted average shares outstanding, on post-reverse stock split basis	28,546,379	28,056,263	27,792,632	26,576,440	27,924,227	28,128,731	26,172,981
Previously Reported [Member]
Interest expense		$ 82	$ 300	$ 477	$ 382		$ 1,457
Loss on debt extinguishment
Change in fair value of warrant liability
Loss before income taxes		2,208	2,554	1,816	4,762		7,234
Net loss		2,208	2,554	1,816	4,762		7,234
Total comprehensive loss		$ (2,233)	$ 2,559	$ 1,834	$ (4,792)		$ 7,158
Loss per share		$ 0.08	$ 0.09	$ 0.07	$ 0.17		$ 0.28
Weighted average shares outstanding, on post-reverse stock split basis		28,056,263	27,792,632	26,576,440	27,924,227		26,172,981
Revision of Prior Period, Adjustment [Member]
Interest expense		$ (120)	$ (42)	$ 202	$ (162)		$ 849
Loss on debt extinguishment			1,622
Change in fair value of warrant liability		341	(257)		84
Loss before income taxes		221	1,323	184	1,544		846
Net loss		221	1,323	184	1,544		846
Total comprehensive loss		$ (221)	$ 1,323	$ 204	$ (1,544)		$ 850
Loss per share		$ 0.01	$ 0.05	$ 0.01	$ 0.06		$ 0.03
Weighted average shares outstanding, on post-reverse stock split basis

Restatement Impacts to the Co_3

Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Total loss for the period	$ (29,343)	$ (3,877)	$ (2,000)	$ (6,306)	$ (35,649)	$ (8,080)
Accretion of convertible debt		194		121	215	2,149
Loss on debt extinguishment	$ 300	1,622			$ 1,922
Change in financial instrument fair value		(257)
Previously Reported [Member]
Total loss for the period		(2,554)	(1,816)	(4,762)		(7,234)
Accretion of convertible debt		236		283		1,300
Loss on debt extinguishment
Change in financial instrument fair value
Revision of Prior Period, Adjustment [Member]
Total loss for the period		(1,323)	$ (184)	(1,544)		(846)
Accretion of convertible debt		(42)		$ (162)		$ 849
Loss on debt extinguishment		1,622
Change in financial instrument fair value		$ (257)

Restatement Impacts to the Co_4

Restatement Impacts to the Condensed Consolidated Statement of Shareholders’ Equity (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Beginning balance, value	$ 13,269	$ 15,412	$ 17,665	$ 14,296	$ 17,665	$ 17,665	$ 13,213
Debt conversions		1,650		2,100	1,950	1,950	6,622
Share issuance costs			(21)
Share issuance costs			21
Reporting currency translation	112	(25)	(5)	37	(30)	82	72
Loss for the period As restated			(3,877)
Loss for the period As restated			3,877
Ending balance, value	(12,512)	13,269	15,412	14,368	13,269	(12,512)	14,368
Loss for the period As restated	(29,343)		(3,877)	(2,000)	(6,306)	(35,649)	(8,080)
Previously Reported [Member]
Beginning balance, value	14,813	16,735	17,665	15,392	17,665	17,665	13,663
Debt conversions		300	1,650		1,950
Share issuance costs			(21)
Share issuance costs			21
Reporting currency translation		(25)	(5)	(18)	(30)		76
Loss for the period As restated			2,554
Loss for the period As restated			(2,554)
Ending balance, value		14,813	16,735	15,668	14,813		15,668
Loss for the period As restated			(2,554)	(1,816)	(4,762)		(7,234)
Revision of Prior Period, Adjustment [Member]
Beginning balance, value	(1,544)	(1,323)		(1,096)			(450)
Reporting currency translation				(20)			(4)
Loss for the period As restated			(1,323)
Loss for the period As restated			1,323
Ending balance, value		(1,544)	(1,323)	(1,300)	(1,544)		(1,300)
Loss for the period As restated			(1,323)	(184)	(1,544)		(846)
Common Stock [Member]
Beginning balance, value	130,995	130,684	129,055	120,936	129,055	129,055	113,882
Debt conversions		1,650		2,100	1,950	1,950	6,622
Reporting currency translation
Ending balance, value	134,445	130,995	130,684	123,045	130,995	134,445	123,045
Loss for the period As restated
Common Stock [Member] | Previously Reported [Member]
Beginning balance, value	130,995	130,684	129,055		129,055	129,055
Debt conversions		300	1,650		1,950
Share issuance costs			(21)
Share issuance costs			21
Reporting currency translation
Loss for the period As restated
Loss for the period As restated
Ending balance, value		130,995	130,684		130,995
Loss for the period As restated
Common Stock [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value
Loss for the period As restated
Loss for the period As restated
Ending balance, value
Loss for the period As restated
Retained Earnings [Member]
Beginning balance, value	(116,703)	(114,274)	(110,397)	(105,590)	(110,397)	(110,397)	(99,510)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation
Loss for the period As restated			(3,877)
Loss for the period As restated			3,877
Ending balance, value	(146,046)	(116,703)	(114,274)	(107,590)	(116,703)	(146,046)	(107,590)
Loss for the period As restated	(29,343)			(2,000)	(6,306)	(35,649)	(8,080)
Retained Earnings [Member] | Previously Reported [Member]
Beginning balance, value	(115,159)	(112,951)	(110,397)	(104,494)	(110,397)	(110,397)	(99,076)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation
Loss for the period As restated			2,554
Loss for the period As restated			(2,554)
Ending balance, value		(115,159)	(112,951)	(106,310)	(115,159)		(106,310)
Loss for the period As restated					(4,762)
Retained Earnings [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value	(1,544)	(1,323)		(1,096)			(434)
Loss for the period As restated			(1,323)
Loss for the period As restated			1,323
Ending balance, value		(1,544)	(1,323)	(1,280)	(1,544)		(1,280)
Loss for the period As restated					(1,544)
AOCI Attributable to Parent [Member]
Beginning balance, value	(1,023)	(998)	(993)	(1,050)	(993)	(993)	(1,159)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation	112	(25)	(5)	37	(30)	82	72
Loss for the period As restated
Loss for the period As restated
Ending balance, value	(911)	(1,023)	(998)	(1,087)	(1,023)	(911)	(1,087)
Loss for the period As restated
AOCI Attributable to Parent [Member] | Previously Reported [Member]
Beginning balance, value	(1,023)	(998)	(993)	(1,049)	(993)	(993)	(1,143)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation		(25)	(5)		(30)
Loss for the period As restated
Loss for the period As restated
Ending balance, value		(1,023)	(998)	(1,067)	(1,023)		(1,067)
Loss for the period As restated
AOCI Attributable to Parent [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value							(16)
Ending balance, value				$ (20)			$ (20)
Loss for the period As restated

RESTATEMENTS (Details Narrative

RESTATEMENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Loss on debt extinguishment						$ 1,422
Foreign exchange loss						200	148
Deferred transaction costs		$ 4,138	$ 2,609		$ 4,138
Total assets	$ 24,456	21,701	23,046		21,701	24,456		$ 22,756
Convertible debt		541	914		541			2,169
Total current liabilities	4,678	7,127	6,670		7,127	4,678		5,068
Warrant liability	5,303	1,305	964		1,305	5,303
Total liabilities	34,735	8,432	7,634		8,432	34,735		5,091
Accumulated deficit	(146,046)	(116,703)	(114,274)		(116,703)	(146,046)		(110,397)
Total shareholders’ equity	(12,512)	13,269	15,412	$ 14,368	13,269	(12,512)	14,368	17,665
Total liabilities and equity	24,456	21,701	23,046		21,701	24,456		22,756
Interest expense		(38)	258	679	220		2,306
Change in fair value of warrant liability	$ 784	341	(257)		84	$ 868
Loss before income taxes		2,429	(3,877)	2,000	6,306		8,080
Net loss		2,429	3,877	2,000	6,306		8,080
Total comprehensive loss		$ 2,454	$ (3,882)	$ (2,038)	$ 6,336		$ (8,008)
Loss per share	$ 1	$ 0.09	$ 0.14	$ 0.08	$ 0.23	$ 1.26	$ 0.31
Weighted average shares outstanding, on post-reverse stock split basis	28,546,379	28,056,263	27,792,632	26,576,440	27,924,227	28,128,731	26,172,981
Loss on debt extinguishment					$ 1,622	$ 1,622
Loss for the period	$ (29,343)		$ (3,877)	$ (2,000)	(6,306)	(35,649)	$ (8,080)
Accretion of convertible debt			194		121	215	2,149
Loss on debt extinguishment					1,622
Change in financial instrument fair value					84
Beginning balance, value	13,269	$ 15,412	17,665	14,296	17,665	17,665	13,213
Exercise of warrants		11		9	11	11	430
Debt conversions		1,650		2,100	1,950	1,950	6,622
Reporting currency translation	112	(25)	(5)	37	(30)	82	72
Loss for the period As restated		(2,429)
Ending balance, value	(12,512)	13,269	15,412	14,368	13,269	(12,512)	14,368
Share issuance costs		300			(21)	(21)
Foreign exchange gain				(66)
Reporting currency translation	(112)			38		(82)	(72)
Total comprehensive loss		(2,454)	3,882	2,038	(6,336)		8,008
Foreign exchange loss							98
Reporting currency translation	112			(38)		82	72
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss						(200)	(148)
Common Stock [Member]
Total shareholders’ equity	134,445	130,995	130,684	123,045	130,995	134,445	123,045	129,055
Loss for the period
Beginning balance, value	130,995	130,684	129,055	120,936	129,055	129,055	113,882
Exercise of warrants		11		9	11	11	430
Debt conversions		1,650		2,100	1,950	1,950	6,622
Reporting currency translation
Loss for the period As restated
Ending balance, value	134,445	130,995	130,684	123,045	130,995	134,445	123,045
Share issuance costs					(21)	(21)
Retained Earnings [Member]
Total shareholders’ equity	(146,046)	(116,703)	(114,274)	(107,590)	(116,703)	(146,046)	(107,590)	(110,397)
Loss for the period	(29,343)			(2,000)	(6,306)	(35,649)	(8,080)
Beginning balance, value	(116,703)	(114,274)	(110,397)	(105,590)	(110,397)	(110,397)	(99,510)
Exercise of warrants
Debt conversions
Reporting currency translation
Loss for the period As restated		(2,429)
Ending balance, value	(146,046)	(116,703)	(114,274)	(107,590)	(116,703)	(146,046)	(107,590)
Share issuance costs
AOCI Attributable to Parent [Member]
Total shareholders’ equity	(911)	(1,023)	(998)	(1,087)	(1,023)	(911)	(1,087)	(993)
Loss for the period
Beginning balance, value	(1,023)	(998)	(993)	(1,050)	(993)	(993)	(1,159)
Exercise of warrants
Debt conversions
Reporting currency translation	112	(25)	(5)	37	(30)	82	72
Loss for the period As restated
Ending balance, value	(911)	(1,023)	(998)	(1,087)	(1,023)	(911)	(1,087)
Share issuance costs
Previously Reported [Member]
Foreign exchange loss							(151)
Deferred transaction costs		4,338	2,809		4,338
Total assets		21,901	23,246		21,901
Convertible debt		502	755		502
Total current liabilities		7,088	6,511		7,088
Warrant liability
Total liabilities		7,088	6,511		7,088
Accumulated deficit		(115,159)	(112,951)		(115,159)
Total shareholders’ equity		14,813	16,735	15,668	14,813		15,668	17,665
Total liabilities and equity		21,901	23,246		21,901
Interest expense		82	300	477	382		1,457
Change in fair value of warrant liability
Loss before income taxes		2,208	2,554	1,816	4,762		7,234
Net loss		2,208	2,554	1,816	4,762		7,234
Total comprehensive loss		$ 2,233	$ (2,559)	$ (1,834)	$ 4,792		$ (7,158)
Loss per share		$ 0.08	$ 0.09	$ 0.07	$ 0.17		$ 0.28
Weighted average shares outstanding, on post-reverse stock split basis		28,056,263	27,792,632	26,576,440	27,924,227		26,172,981
Loss on debt extinguishment
Loss for the period			$ (2,554)	$ (1,816)	(4,762)		$ (7,234)
Accretion of convertible debt			236		283		1,300
Loss on debt extinguishment
Change in financial instrument fair value
Beginning balance, value	14,813	$ 16,735	17,665	15,392	17,665	17,665	13,663
Exercise of warrants		11			11
Debt conversions		300	1,650		1,950
Reporting currency translation		(25)	(5)	(18)	(30)		76
Loss for the period As restated		(2,208)
Ending balance, value		14,813	16,735	15,668	14,813		15,668
Share issuance costs					(21)
Foreign exchange gain				(48)
Reporting currency translation				18			76
Total comprehensive loss		(2,233)	2,559	1,834	(4,792)		7,158
Foreign exchange loss							101
Reporting currency translation				(18)			(76)
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss							151
Previously Reported [Member] | Common Stock [Member]
Total shareholders’ equity		130,995	130,684		130,995			129,055
Loss for the period
Beginning balance, value	130,995	130,684	129,055		129,055	129,055
Exercise of warrants		11			11
Debt conversions		300	1,650		1,950
Reporting currency translation
Loss for the period As restated
Ending balance, value		130,995	130,684		130,995
Share issuance costs					(21)
Previously Reported [Member] | Retained Earnings [Member]
Total shareholders’ equity		(115,159)	(112,951)	(106,310)	(115,159)		(106,310)	(110,397)
Loss for the period					(4,762)
Beginning balance, value	(115,159)	(112,951)	(110,397)	(104,494)	(110,397)	(110,397)	(99,076)
Exercise of warrants
Debt conversions
Reporting currency translation
Loss for the period As restated		(2,208)
Ending balance, value		(115,159)	(112,951)	(106,310)	(115,159)		(106,310)
Share issuance costs
Previously Reported [Member] | AOCI Attributable to Parent [Member]
Total shareholders’ equity		(1,023)	(998)	(1,067)	(1,023)		(1,067)	(993)
Loss for the period
Beginning balance, value	(1,023)	(998)	(993)	(1,049)	(993)	(993)	(1,143)
Exercise of warrants
Debt conversions
Reporting currency translation		(25)	(5)		(30)
Loss for the period As restated
Ending balance, value		(1,023)	(998)	(1,067)	(1,023)		(1,067)
Share issuance costs
Revision of Prior Period, Adjustment [Member]
Foreign exchange loss							3
Deferred transaction costs		(200)	(200)		(200)
Total assets		(200)	(200)		(200)
Convertible debt		39	159		39
Total current liabilities		39	159		39
Warrant liability		1,305	964		1,305
Total liabilities		1,344	1,123		1,344
Accumulated deficit		(1,544)	(1,323)		(1,544)
Total shareholders’ equity		(1,544)	(1,323)	(1,300)	(1,544)		(1,300)
Total liabilities and equity		(200)	(200)		(200)
Interest expense		(120)	(42)	202	(162)		849
Change in fair value of warrant liability		341	(257)		84
Loss before income taxes		221	1,323	184	1,544		846
Net loss		221	1,323	184	1,544		846
Total comprehensive loss		$ 221	$ (1,323)	$ (204)	$ 1,544		$ (850)
Loss per share		$ 0.01	$ 0.05	$ 0.01	$ 0.06		$ 0.03
Weighted average shares outstanding, on post-reverse stock split basis
Loss on debt extinguishment					$ 1,622
Loss for the period			$ (1,323)	$ (184)	(1,544)		$ (846)
Accretion of convertible debt			(42)		(162)		849
Loss on debt extinguishment					1,622
Change in financial instrument fair value					84
Beginning balance, value	(1,544)	$ (1,323)		(1,096)			(450)
Reporting currency translation				(20)			(4)
Loss for the period As restated		(221)
Ending balance, value		(1,544)	(1,323)	(1,300)	(1,544)		(1,300)
Foreign exchange gain				(18)
Reporting currency translation				20			4
Total comprehensive loss		(221)	1,323	204	(1,544)		850
Foreign exchange loss							(3)
Reporting currency translation				(20)			(4)
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss							(3)
Revision of Prior Period, Adjustment [Member] | Common Stock [Member]
Total shareholders’ equity
Loss for the period
Beginning balance, value
Loss for the period As restated
Ending balance, value
Revision of Prior Period, Adjustment [Member] | Retained Earnings [Member]
Total shareholders’ equity		(1,544)	(1,323)	(1,280)	(1,544)		(1,280)
Loss for the period					(1,544)
Beginning balance, value	(1,544)	(1,323)		(1,096)			(434)
Loss for the period As restated		(221)
Ending balance, value		(1,544)	(1,323)	(1,280)	(1,544)		(1,280)
Revision of Prior Period, Adjustment [Member] | AOCI Attributable to Parent [Member]
Total shareholders’ equity				(20)			(20)
Loss for the period
Beginning balance, value							(16)
Loss for the period As restated
Ending balance, value				$ (20)			$ (20)

GOING CONCERN ISSUES (Details N

GOING CONCERN ISSUES (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 29,343,000	$ 3,877,000	$ 2,000,000	$ 6,306,000	$ 35,649,000	$ 8,080,000
Accumulated deficit	$ 146,046,000	$ 114,274,000		$ 116,703,000	146,046,000		$ 110,397,000
Cash					7,145,000
Capital expenditure of operations					(109,005)
Net proceeds					$ 61,600,000

The following table summarizes

The following table summarizes the elements of the GXII Transaction allocated to the Consolidated Statements of Operations: (Details)	Mar. 17, 2023 USD ($)
Business Combination and Asset Acquisition [Abstract]
Transaction costs	$ 15,676
Gross cash proceeds, net of transaction costs incurred by GXII	2,168,000
Less:
Net liabilities assumed	392,000
Warrants assumed at fair value	3,848,000
Earnout Shares assumed at fair value	13,195,000
Transaction costs expensed	6,309,000
Net costs allocated to other operating expense	$ 21,576,000

The number of Common Shares iss

The number of Common Shares issued and outstanding immediately following the consummation of the Transactions were as follows: (Details) - shares		9 Months Ended
		Mar. 31, 2023	Mar. 17, 2023	Jun. 30, 2022
Offsetting Assets [Line Items]
Common stock, shares outstanding		30,081,655	30,000,442	27,667,060
Number of shares, percentage		100%
Legacy Nio Corp Shareholders [Member]
Offsetting Assets [Line Items]
Common stock, shares outstanding		28,246,621
Number of shares, percentage		93.90%
GXII Class A Shareholders [Member]
Offsetting Assets [Line Items]
Common stock, shares outstanding		1,753,821
Number of shares, percentage		5.83%
Other [Member]
Offsetting Assets [Line Items]
Common stock, shares outstanding	[1]	81,213
Number of shares, percentage	[1]	0.27%
[1]– Share price adjusted to reflect the Reverse Stock Split.

GXII TRANSACTION (Details Narra

GXII TRANSACTION (Details Narrative) - shares		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Sep. 25, 2022
Warrant Agreement [Member]
Business Acquisition [Line Items]
Number of shares purchase		15,666,626
Common Class B [Member]
Business Acquisition [Line Items]
Convertible shares issued upon conversion			7,957,404
Common Stock [Member]
Business Acquisition [Line Items]
Post reverse stock split shares	1,753,821
Number of shares purchase		17,519,864

LAND AND BUILDINGS, NET (Detail

LAND AND BUILDINGS, NET (Details Narrative) - Land Improvements [Member] - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2022	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Description of owned land	approximately 1.27 acres located adjacent to State Highway 50
Improvements state		$ 21
Associated sale		$ 13

Schedule of account payable and

Schedule of account payable and accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Payables and Accruals [Abstract]
Accounts payable, trade	$ 926	$ 115
Accounts payable accruals	2,055	654
Taxes payable	259
Interest and fees payable to related party	31
Other accruals	48	48
Total accounts payable and accrued liabilities	$ 3,319	$ 817

Changes in the Lind III Convert

Changes in the Lind III Convertible Security are as follows (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Short-Term Debt [Line Items]
Beginning balance
Fair value increase due to debt extinguishment	$ 300	1,622			1,922
Accretion expense		194		121	215	$ 2,149
Ending balance	12,263				12,263
Convertible Security [Member]
Short-Term Debt [Line Items]
Beginning balance		$ 2,169		$ 2,169	2,169
Fair value increase due to debt extinguishment					201
Accretion expense					95
Conversions					(1,950)
Payment at maturity					(515)
Ending balance

The following table summarize_2

The following table summarizes the components of the initial loss on extinguishment: (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Dec. 31, 2022	Mar. 31, 2023
Debt Disclosure [Abstract]
Minimum Consent Payment at inception		$ 200
Loss on debt extinguishment		201
Initial fair value of Contingent Consent Warrants		1,221
Initial loss on debt extinguishment	$ 1,622	$ 1,622

Changes in the fair value of th

Changes in the fair value of the Contingent Consent Warrants are presented below: (Details) - USD ($) $ in Thousands		3 Months Ended
	Sep. 30, 2022	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Initial valuation, at beginning	$ 1,221	$ 1,305	$ 964
Change in valuation	(257)	220	341
Initial valuation, at ending	$ 964	$ 1,525	$ 1,305

Schedule of valuation date and

Schedule of valuation date and the probability calculated. (Details)	Mar. 31, 2023 Number $ / shares	Dec. 31, 2022 Number $ / shares	[1]	Sep. 30, 2022 Number $ / shares	[1]	Sep. 25, 2022 Number $ / shares	[1]	Jun. 30, 2022 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price on valuation date | $ / shares	$ 10.99							$ 8.99
Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price on valuation date | $ / shares	$ 6.36	$ 7.40		$ 10.40		$ 7.82
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price on valuation date	71.3	63.5		63.4		62.4
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price on valuation date	3.59	3.98		4.04		3.93
Probability of Issuance [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price on valuation date	64.5	62.5		45.5		59.4
[1]– Share price adjusted to reflect the Reverse Stock Split.

Changes in the Convertible Debe

Changes in the Convertible Debentures are as follows: (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Opening balance, March 17, 2023	$ 12,153
Accretion expense	110
Balance, March 31, 2023	$ 12,263

Schedule of expenses as other o

Schedule of expenses as other operating costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
Fair value of Commitment Shares issued		$ 300	$ (21)	$ (21)
Yorkville Convertible Debt Financing Agreement [Member]
Restructuring Cost and Reserve [Line Items]
Yorkville Cash Fee	$ 1,500
Fair value of Commitment Shares issued	650
Legal and other related costs	496			$ 496
Net costs expensed to other operating expense	$ 2,646

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended		9 Months Ended
	Mar. 31, 2023 USD ($) Number $ / shares shares	Dec. 31, 2022 USD ($) Number $ / shares		Dec. 31, 2022 USD ($) Number $ / shares		Mar. 31, 2023 USD ($) Number $ / shares shares	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) Number $ / shares		Sep. 25, 2022 Number $ / shares	[1]	Jun. 30, 2022 USD ($) $ / shares
Debt Instrument [Line Items]
Fair value	$ 15,360					$ 15,360
Common share price, per share | $ / shares	$ 10.99					$ 10.99						$ 8.99
Proceeds from convertible debentures						$ 15,360
Convertible debt liability		$ 541		$ 541				$ 914				$ 2,169
Shares issued | shares	42,300					42,300
Committed to purchase						$ 21
Number of shares, value		$ 300		$ (21)		$ (21)
Measurement Input, Risk Free Interest Rate [Member]
Debt Instrument [Line Items]
Fair value | Number	3.59	3.98	[1]	3.98	[1]	3.59		4.04	[1]	3.93
Measurement Input, Price Volatility [Member]
Debt Instrument [Line Items]
Fair value | Number	71.3	63.5	[1]	63.5	[1]	71.3		63.4	[1]	62.4
Measurement Input, Share Price [Member]
Debt Instrument [Line Items]
Common share price, per share | $ / shares	$ 6.36	$ 7.40	[1]	$ 7.40	[1]	$ 6.36		$ 10.40	[1]	$ 7.82
Maximum [Member]
Debt Instrument [Line Items]
Common share price, per share | $ / shares	$ 50					$ 50
Common Stock [Member]
Debt Instrument [Line Items]
Number of shares, value				$ (21)		$ (21)
Yorkville Convertible Debt Financing Agreement [Member]
Debt Instrument [Line Items]
Fair value	$ 2,704					$ 2,704
Principal percentage						110%
Issuance of the convertible debentures | $ / shares						$ 8.9422
Convertible debt liability	12,656					$ 12,656
Transaction costs	$ 503					$ 503
Committed to purchase	97%					97%
Number of shares, value	$ 650
Aggregate cash fee	1,500					$ 1,500
Aggregate cash fee						$ 500
Installments term						12 months
Other costs	$ 496					$ 496
Yorkville Convertible Debt Financing Agreement [Member] | Measurement Input, Risk Free Interest Rate [Member]
Debt Instrument [Line Items]
Fair value	4.33					4.33
Yorkville Convertible Debt Financing Agreement [Member] | Measurement Input, Expected Dividend Rate [Member]
Debt Instrument [Line Items]
Fair value						0%
Yorkville Convertible Debt Financing Agreement [Member] | Measurement Input, Price Volatility [Member]
Debt Instrument [Line Items]
Fair value | Number	64.6					64.6
Yorkville Convertible Debt Financing Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate obligation						5%
Expected life						6 months
Yorkville Convertible Debt Financing Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate obligation						15%
Expected life						18 months
Yorkville Convertible Debt Financing Agreement [Member] | Warrant [Member]
Debt Instrument [Line Items]
Issuance of the convertible debentures | shares						1,789,267
Common share price, per share | $ / shares	$ 8.9422					$ 8.9422
Debt term						18-month term
Yorkville Convertible Debt Financing Agreement [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Committed to purchase						$ 65,000
Committed to purchase | shares						81,213
Number of shares, value						$ 650
Unsecured Debt [Member] | Yorkville Convertible Debt Financing Agreement [Member]
Debt Instrument [Line Items]
Fair value	$ 16,000					$ 16,000
[1]– Share price adjusted to reflect the Reverse Stock Split.

The following table discloses t

The following table discloses the primary inputs into the Monte Carlo models. (Details) - Measurement Input, Exercise Price [Member] - Valuation Technique, Option Pricing Model [Member] - Earnout [Member] - $ / shares		9 Months Ended
	Sep. 25, 2022	Mar. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing Common Share price	$ 7	$ 6.36
Term (expiry)	Mar. 17, 2033	Mar. 17, 2033
Implied volatility of public warrants	19.50%	23.50%
Risk-free rate	3.39%	3.48%

The following table sets fort_2

The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the period ended March 31, 2023: (Details) - Earnout [Member] $ in Thousands	1 Months Ended
	Mar. 31, 2023 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at beginning	$ 13,195
Change in fair value	(881)
Fair value at ending	$ 12,314

CLASS B COMMON STOCK OF ECRC (D

CLASS B COMMON STOCK OF ECRC (Details Narrative) - shares	9 Months Ended
	Mar. 31, 2023	Mar. 17, 2023	Jun. 30, 2022
Common stock, shares, issued		30,000,442
Common stock, shares, outstanding	30,081,655	30,000,442	27,667,060
Earnout [Member]
Earnout shares	3,391,596
Description of earnout shares	The Earnout Shares vest (the “Released Earnout Shares”) in two equal tranches based upon achieving market share price milestones of approximately $12.00 per Common Share and approximately $15.00 per Common Share, respectively, prior to the Ten-Year Anniversary, or upon a change in control as defined in the underlying agreement.
Common Class B [Member]
Common stock, shares, issued	7,957,404
Common stock, shares, outstanding	7,957,404
Earnout shares	4,565,808

Schedule of stock option (Detai

Schedule of stock option (Details)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Equity [Abstract]
Beginning balance | shares	1,446,400
Beginning balance | $ / shares	$ 8.30
Granted | shares	578,000
Granted | $ / shares	$ 9.52
Exercised | shares	(265,129)
Exercised | $ / shares	$ 4.99
Cancelled/expired | shares	(197,771)
Cancelled/expired | $ / shares	$ 5.09
Ending balance | shares	1,561,500
Ending Balance | $ / shares	$ 9.69

The following table summarize_3

The following table summarizes information about Options outstanding at March 31, 2023: (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($) shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding | shares	1,561,500
Aggregate intrinsic value | $	$ 917
Number exercisable | shares	1,561,500
Aggregate intrinsic value | $	$ 917
Exercise Price8.40 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Sep. 18, 2023
Number of outstanding | shares	105,000
Number exercisable | shares	105,000
Exercise Price8.40 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 18
Aggregate intrinsic value | $	$ 18
Exercise Price5.40 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Nov. 15, 2023
Number of outstanding | shares	208,500
Number exercisable | shares	208,500
Exercise Price5.40 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 661
Aggregate intrinsic value | $	$ 661
Exercise Price7.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 14, 2023
Number of outstanding | shares	170,000
Number exercisable | shares	170,000
Exercise Price7.50 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 182
Aggregate intrinsic value | $	$ 182
Exercise Price7.50 one [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 16, 2023
Number of outstanding | shares	52,500
Number exercisable | shares	52,500
Exercise Price7.50 one [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 56
Aggregate intrinsic value | $	$ 56
Exercise Price13.60 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 17, 2024
Number of outstanding | shares	397,500
Number exercisable | shares	397,500
Exercise Price13.60 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $
Aggregate intrinsic value | $
Exercise Price11.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	May 30, 2025
Number of outstanding | shares	50,000
Number exercisable | shares	50,000
Exercise Price11.00 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $
Aggregate intrinsic value | $
Exercise Price9.52 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Mar. 27, 2026
Number of outstanding | shares	578,000
Number exercisable | shares	578,000
Exercise Price9.52 [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)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Equity [Abstract]
Balance, at beginning | shares	1,851,622
Balance, at beginning | $ / shares	$ 8.99
Granted | shares	17,455,893	[1]
Granted | $ / shares	$ 11.24	[1]
Exercised | shares
Exercised | $ / shares
Cancelled/expired | shares	(50,000)
Cancelled/expired | $ / shares	$ 5.91
Balance, at ending | shares	19,257,515
Balance, at ending | $ / shares	$ 10.99
[1]Includes 15,666,626 NioCorp Assumed Warrants assumed in connection with the Closing of the Transactions discussed below.

Schedule of outstanding exercis

Schedule of outstanding exercisable warrants (Details) - $ / shares	Mar. 31, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	19,257,515	1,851,622
Warrant exercise price (in dollars per share)	$ 10.99	$ 8.99
Exercise Price 16. 30 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	441,211
Expiry date	May 10, 2023
Exercise Price 16. 30 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 16.30
Exercise Price11.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	504,611
Expiry date	Jun. 30, 2024
Exercise Price11.00 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 11
Exercise Price 9. 70 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	855,800
Expiry date	Feb. 19, 2025
Exercise Price 9. 70 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 9.70
Exercise Price 8. 94 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	1,789,267
Exercise Price 8. 94 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 8.94
Exercise Price 11. 50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	15,666,626
Expiry date	Mar. 17, 2028
Exercise Price 11. 50 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 11.50

The Company classifies Private

The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy and estimated the fair value using a Black Scholes model with the following assumptions: (Details) - Fair Value, Inputs, Level 2 [Member] - $ / shares	9 Months Ended
	Mar. 31, 2023	Mar. 17, 2023
Defined Benefit Plan Disclosure [Line Items]
Stock price on valuation date	$ 6.36	$ 7
Strike price	$ 10.28	$ 10.28
Implied volatility of public warrants	23.50%	19.50%
Risk free rate	3.61%	3.47%
Dividend yield	0%	0%

Changes in the fair value of _2

Changes in the fair value of the Private Warrants are shown below: (Details) - Note Warrant [Member] $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Subsidiary, Sale of Stock [Line Items]
Initial valuation, at beginning	$ 3,848
Change in valuation	(70)
Initial valuation, at ending	$ 3,778

COMMON SHARES (Details Narrativ

COMMON SHARES (Details Narrative) $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrecognized compensation cost | $	$ 0
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Description of warrants	Each NioCorp Assumed Warrant entitles the holder to the right to purchase 1.11829212 Common Shares at an exercise price of $11.50 per 1.11829212 Common Shares (subject to adjustments for stock splits, stock dividends, reorganizations, recapitalizations and the like).
GXII Public Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants traded prior to the closing	9,999,959
GXII Private Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants traded prior to the closing	5,666,667
Canada, Dollars
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share price | $ / shares	$ 8.57

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Feb. 28, 2023
Related Party Transaction [Line Items]
Amount drew down	$ 1,130
General Security Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Interest at a rate	10%
Prepayment fee	2.50%
Amended Non Revolving Credit Facility Agreement [Member] | Chief Executive Officer [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Credit agreement		$ 4,000
Amended Non Revolving Credit Facility Agreement [Member] | Chief Executive Officer [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Credit agreement		$ 3,500

Schedule of exploration expendi

Schedule of exploration expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Exploration expenditure	$ 1,410	$ 845	$ 4,015	$ 1,957
Technical Studies and Engineering [Member]
Exploration expenditure	85	45	222	179
Field Management and Other [Member]
Exploration expenditure	195	139	588	420
Exploration and Production Equipment [Member]
Exploration expenditure	1,130	625	3,203	1,211
Geologists And Field Staff [Member]
Exploration expenditure		$ 36	$ 2	$ 147

The Company incurred lease cost

The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Operating Lease Cost:
Fixed rent expense	$ 15	$ 23	$ 60	$ 66
Variable rent expense	3	2	9	7
Short-term lease cost	3	4	7	12
Sublease income	(6)	(8)	(24)	(23)
Net lease cost – other operating expense	$ 15	$ 21	$ 52	$ 62

The maturities of lease liabili

The maturities of lease liabilities are as follows at March 31, 2023: (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases
Total remaining lease payments	$ 338
Less portion of payments representing interest	(91)
Present value of lease payments	247
Less current portion of lease payments	(70)
Non current lease liability	$ 177

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 7,145	$ 5,280
Investment in equity securities	7	10
Total	7,152	5,290
Earnout liability	12,314
Warrants liabilities	5,303
Total	17,617
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	7,145	5,280
Investment in equity securities	7	10
Total	7,152	5,290
Earnout liability
Warrants liabilities
Total
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Investment in equity securities
Total
Earnout liability
Warrants liabilities	3,778
Total	3,778
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Investment in equity securities
Total
Earnout liability	12,314
Warrants liabilities	1,525
Total	$ 13,839

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Common Stock [Member] - Subsequent Event [Member] $ / shares in Units, $ in Thousands	Apr. 28, 2023 USD ($) $ / shares shares
Subsequent Event [Line Items]
Shares issued and sold | shares	314,465
Net proceeds | $	$ 1,800
Business Acquisitions [Member]
Subsequent Event [Line Items]
Offering price, per share | $ / shares	$ 6.36