NioCorp Developments (NB) 10-Q/A 7 Jun 23 2023 Q2 Quarterly report (amended) Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2022	Feb. 13, 2023
Cover [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	NioCorp Developments Ltd. (“NioCorp” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2022 with the U.S. Securities and Exchange Commission (“SEC”) on February 13, 2023 (the “Original Form 10-Q”). This Amendment No. 1 on Form 10-Q/A (this “Amendment” or “Form 10-Q/A”) is being filed to restate (the “Restatement”) certain information in the Company’s previously issued condensed consolidated financial statements as of and for the three and six months ended December 31, 2022 (the “Affected Periods”).
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	Q2
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	855
Local Phone Number	264-6267
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		28,246,620

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands		Dec. 31, 2022		Jun. 30, 2022
Current
Cash		$ 424		$ 5,280
Prepaid expenses and other		112		402
Total current assets		536		5,682
Non-current
Deferred transaction costs		4,138
Deposits		35		35
Investment in equity securities		9		10
Right-of-use assets		58		94
Land and buildings, net		840		850
Mineral interests		16,085		16,085
Total assets		21,701		22,756
Current
Accounts payable and accrued liabilities		4,520		817
Related party loan		2,000		2,000
Convertible debt		541		2,169
Operating lease liability		66		82
Total current liabilities		7,127		5,068
Warrant liability		1,305
Operating lease liability				23
Total liabilities		8,432		5,091
SHAREHOLDERS’ EQUITY
Common shares, unlimited shares authorized; shares outstanding: 28,242,065 at December 31, 2022 and 27,667,060 at June 30, 2022	[1]	130,995		129,055
Accumulated deficit		(116,703)		(110,397)
Accumulated other comprehensive loss		(1,023)		(993)
Total shareholders’ equity		13,269	[2]	17,665
Total liabilities and equity		$ 21,701		$ 22,756
[1]Amounts of shares outstanding are restated to give retroactive effect to the Reverse Stock Split (as defined below). See Note 2d for more information.[2]Amounts are restated. See Note 3 for more information.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - shares	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Statement of Financial Position [Abstract]
Common stock, authorized	Unlimited	Unlimited
Common stock, shares outstanding	28,242,065	27,667,060

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Dec. 31, 2022	[1]	Dec. 31, 2021	Dec. 31, 2022	[1]	Dec. 31, 2021
Operating expenses
Employee related costs		$ 291		$ 1,232	$ 584		$ 1,551
Professional fees		262		424	426		514
Exploration expenditures		1,317		491	2,605		1,112
Other operating expenses		331		881	668		1,107
Total operating expenses		2,201		3,028	4,283		4,284
Change in fair value of warrant liability		341			84
Loss on debt extinguishment					1,622
Foreign exchange (gain) loss		(64)		(61)	109		164
Interest (income) expense		(38)		1,022	220		1,627
Gain on sale of assets		(13)			(13)
Other loss on equity securities		2		3	1		5
Loss before income taxes		2,429		3,992	6,306		6,080
Income tax benefit
Net loss		2,429		3,992	6,306		6,080
Other comprehensive loss:
Net loss		2,429		3,992	6,306		6,080
Other comprehensive loss (gain):
Reporting currency translation		25		14	30		(110)
Total comprehensive loss		$ 2,454		$ 4,006	$ 6,336		$ 5,970
Loss per common share, basic and diluted	[2]	$ 0.09		$ 0.15	$ 0.23		$ 0.23
Weighted average common shares outstanding	[2]	28,056,263		26,139,224	27,924,447		25,973,432
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated to give effect to the Reverse Stock Split. See Note 2d for more information.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (6,306)	[1]	$ (6,080)
Adjustments to reconcile net loss to net cash used in operations:
Unrealized loss on equity securities	1		5
Accretion of convertible debt	121		1,524
Loss on debt extinguishment	1,622
Gain on sale of assets	(13)	[2]
Change in fair value of warrant liability	84	[2]
Noncash lease expense	(4)		(3)
Depreciation	1		1
Foreign exchange loss	151		225
Share-based compensation			1,568
Total	(4,343)		(2,760)
Change in working capital items:
Prepaid expenses and other	289		(255)
Accounts payable and accrued liabilities	(70)		57
Net cash used in operating activities	(4,124)		(2,958)
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		963
Share issuance costs	(21)
Payments of deferred transaction costs	(537)
Related party debt repayments			(318)
Net cash (used in) provided by financing activities	(547)		645
Exchange rate effect on cash and cash equivalents	(206)		(122)
Change in cash and cash equivalents during period	(4,856)		(2,451)
Cash and cash equivalents, beginning of period	5,280		7,317
Cash and cash equivalents, end of period	424		4,866
Supplemental cash flow information:
Amounts paid for interest			40
Amounts paid for income taxes
Non-cash financing transactions:
Conversions of debt for common shares	1,950		4,522
Deferred transaction costs, accrued but not paid	$ 3,800
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated. See Note 3 for more information.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders, Equity (unaudited) - USD ($) $ in Thousands		Common Stock [Member]		Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Jun. 30, 2021		$ 113,882		$ (99,510)	$ (1,159)	$ 13,213
Beginning balance (in shares) at Jun. 30, 2021	[1]	25,637,993
Exercise of options		$ 420				420
Exercise of options (in shares)	[1]	101,961
Debt conversions		$ 4,522				4,522
Debt conversions (in shares)	[1]	575,568
Share-based compensation		$ 1,568				1,568
Reporting currency translation					110	110
Loss for the period, as restated				(6,080)		(6,080)
Exercise of warrants		$ 543				543
Exercise of warrants (in shares)	[1]	87,175
Balance, December 31, 2022, as restated   at Dec. 31, 2021		$ 120,935		(105,590)	(1,049)	14,296
Ending balance (in shares) at Dec. 31, 2021	[2]	26,402,697
Beginning balance, value at Sep. 30, 2021		$ 115,896		(101,598)	(1,035)	13,263
Beginning balance (in shares) at Sep. 30, 2021	[2]	25,911,836
Exercise of options		$ 299				299
Exercise of options (in shares)	[2]	73,691
Debt conversions		$ 3,172				3,172
Debt conversions (in shares)	[2]	417,170
Share-based compensation		$ 1,568				1,568
Reporting currency translation					(14)	(14)
Loss for the period, as restated				(3,992)		(3,992)
Balance, December 31, 2022, as restated   at Dec. 31, 2021		$ 120,935		(105,590)	(1,049)	14,296
Ending balance (in shares) at Dec. 31, 2021	[2]	26,402,697
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	[1]			27,667,060
Debt conversions		$ 1,650				$ 1,650
Reporting currency translation					(5)	(5)
Loss for the period, as restated				(3,877)		(3,877)
Balance, December 31, 2022, as restated   at Sep. 30, 2022	[3]	$ 130,684		(114,274)	(998)	15,412
Ending balance (in shares) at Sep. 30, 2022	[2],[3]	27,939,322
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	[1]			27,667,060
Exercise of options		$ 11				$ 11
Exercise of options (in shares)		260,581	[1]			260,582
Debt conversions		$ 1,950				$ 1,950
Debt conversions (in shares)	[1]	314,422
Reporting currency translation					(30)	(30)
Loss for the period, as restated	[4]			(6,306)		(6,306)
Share issuance costs		(21)				(21)
Balance, December 31, 2022, as restated   at Dec. 31, 2022	[3]	$ 130,995		(116,703)	(1,023)	$ 13,269
Ending balance (in shares) at Dec. 31, 2022		28,242,063	[2],[3]			28,242,065
Beginning balance, value at Sep. 30, 2022	[3]	$ 130,684		(114,274)	(998)	$ 15,412
Beginning balance (in shares) at Sep. 30, 2022	[2],[3]	27,939,322
Exercise of options		$ 11				11
Exercise of options (in shares)	[2]	260,581
Debt conversions		$ 300				300
Debt conversions (in shares)	[2]	42,160
Reporting currency translation					(25)	(25)
Loss for the period, as restated	[3]			(2,429)		(2,429)
Share issuance costs						300
Balance, December 31, 2022, as restated   at Dec. 31, 2022	[3]	$ 130,995		$ (116,703)	$ (1,023)	$ 13,269
Ending balance (in shares) at Dec. 31, 2022		28,242,063	[2],[3]			28,242,065
[1]Amounts are restated to give retroactive effect to the Reverse Stock Split. See Note 2d for more information.[2]Amounts are restated to give retroactive effect to the Reverse Stock Split. See Note 2d for more information.[3]Amounts are restated. See Note 3 for more information.[4]Amounts are restated. See Note 3 for more information.

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“NioCorp” or the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in one 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	6 Months Ended
	Dec. 31, 2022
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 generally accepted accounting principles of the United States of America (“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 reclassifications and normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at December 31, 2022, 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, 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 On March 17, 2023, the Company effected a reverse stock split (the “Reverse Stock Split”) of its common shares, without par value (“Common Shares”), 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. All references to share and per share amounts (excluding authorized shares), as well as Option and Warrant (each as defined below) amounts and exercise prices, in the condensed consolidated financial statements and accompanying notes have also been restated to give retroactive effect to the Reverse Stock Split. Basic net loss per share is computed by dividing net loss by the weighted average number of the Company’s Common Shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of Common Share equivalents outstanding for the period determined using the treasury stock method or the if-converted method, as applicable. For purposes of this calculation, options to purchase Common Shares (“Options”) and warrants to purchase Common Shares (“Warrants”) are considered to be Common Share equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying Options, Warrants, and outstanding convertible debt were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three- and six-month periods ended December 31, 2022 and 2021, as indicated below. Schedule of excluded from the dilutive securities For the three and six months ended December 31, 2022 2021 Excluded potentially dilutive securities (1) Options 996,000 1,831,500 Warrants 1,801,625 1,347,011 Convertible debt 81,600 780,400 Total potential dilutive securities 2,879,225 3,958,911 (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

RESTATEMENT

RESTATEMENT	6 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
RESTATEMENT	3. RESTATEMENT 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 Transaction (as defined below) and the proposed financing transactions with Yorkville Advisors Global, LP, each as described in Note 13. On September 25, 2022, the Company and Lind entered into a Waiver and Consent Agreement (the “Lind Consent”), which included the following principal terms: (i) the consent of Lind to the Transaction and the proposed financing transactions with Yorkville Advisors Global, LP, including all actions taken by NioCorp as set out in the Business Combination Agreement to permit the completion of the Transaction; (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 proposed standby equity purchase agreement between NioCorp and Yorkville Advisors Global, LP; 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 $ 500 200 The Company originally accounted for both the Consent Payment and Contingent Consent Warrants as contingencies under Accounting Standards Codification (“ASC”) Topic 450: Contingencies. The identification of the need for the restatement arose during the Company’s quarterly close for the quarter ended March 31, 2023. Pursuant to these procedures, the Audit Committee, in consultation with the Company’s management, determined that the Lind Consent should have been evaluated under ASC 470 – Debt (“ASC 470”), which requires an evaluation of the contract amendment under ASC 470 debt modification guidance. 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 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 Topic 480, Distinguishing Liabilities from Equity (“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 debt extinguishment: 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 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. 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 Key Valuation Input September 25, 2022 September 30, 2022 December Share price on valuation date $ 7.82 $ 10.40 $ 7.40 Volatility 62.4 % 63.4 % 63.5 % Risk free rate 3.93 % 4.04 % 3.98 % Probability of issuance 59.4 % 45.5 % 62.5 % The loss on debt extinguishment is presented as a non-operating expense in the Company’s condensed consolidated statements of operations and comprehensive loss. This change in accounting also resulted in a decrease in the amount of accretion to be recognized over the remaining life of the Lind III Convertible Security. Accretion expenses are disclosed as a part of interest expense, which is not included as a component of operating costs. This correction to the Company’s condensed consolidated statements of operations and comprehensive loss also impacts the Company’s condensed consolidated balance sheet, condensed consolidated statements of shareholders’ equity, and certain notes to the condensed consolidated financial statements three months ended September 30, 2022 and for the three and six months ended December 31, 2022 as illustrated in the tables below. This correction does not impact the condensed consolidated statements of cash flows besides offsetting adjustments between net loss, accretion of convertible debt, and loss on debt extinguishment within the cash flows from operating activities section. NioCorp Developments Ltd. Notes to the Condensed Consolidated Financial Statements December 31, 2022 (expressed in thousands of U.S. dollars, except per share amounts or as otherwise stated) (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 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 27,792,631 - 27,792,631 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 ) NioCorp Developments Ltd. Notes to the Condensed Consolidated Financial Statements December 31, 2022 (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) 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 - (2,554 ) - (2,554 ) Balance, September 30, 2022 $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period - (1,323 ) - (1,323 ) Balance, September 30, 2022 $ - $ (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 - (3,877 ) - (3,877 ) Balance, September 30, 2022, as restated $ 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 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) 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 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 - 1,662 1,662 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 27,924,447 - 27,924,447 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Six Months Ended December 31, 2022 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) 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 - (2,208 ) - (2,208 ) Balance, December 31, 2022 $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, September 30, 2022 $ - $ (1,323 ) $ - $ (1,323 ) Loss for the period - (221 ) - (221 ) Balance, December 31, 2022 $ - $ (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 - (2,429 ) - (2,429 ) Balance, December 31, 2022, as restated $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited) 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 - (4,762 ) - (4,762 ) Balance, December 31, 2022 $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period - (1,544 ) - (1,544 ) Balance, December 31, 2022 $ - $ (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 - (6,306 ) - (6,306 ) Balance, December 31, 2022, as restated $ 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 December 31, 2021 As Previously Reported Restatement Impacts Restated Interest expense $ 488 $ 534 $ 1,022 Loss before income taxes 3,458 534 3,992 Net loss 3,458 534 3,992 Reporting currency translation 15 (1 ) 14 Total comprehensive loss 3,473 533 4,006 Loss per share $ 0.13 $ 0.02 $ 0.15 Weighted average shares outstanding 26,139,224 - 26,139,224 Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited) For the Three Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated September 30, 2021 opening balance adjustments: Deficit $ (101,036 ) $ (562 ) $ (101,598 ) Accumulated other comprehensive loss (1,034 ) (1 ) (1,035 ) Total Shareholders’ equity 13,826 (563 ) 13,263 Activity adjustments: Loss for the period (3,458 ) (534 ) (3,992 ) Reporting currency translation (15 ) 1 (14 ) December 31, 2021 ending balance adjustments: Deficit (104,494 ) (1,096 ) (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total equity 15,392 (1,096 ) 14,296 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Six Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated Foreign exchange loss $ 149 $ 15 $ 164 Interest expense 980 647 1,627 Loss before income taxes 5,418 662 6,080 Net loss 5,418 662 6,080 Reporting currency translation (94 ) (16 ) (110 ) Total comprehensive loss 5,324 646 5,970 Loss per share $ 0.21 $ 0.02 $ 0.23 Weighted average shares outstanding 25,973,432 - 25,973,432 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Six Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Total loss for the period $ (5,418 ) $ (662 ) $ (6,080 ) Accretion of convertible debt 877 647 1,524 Foreign exchange loss 210 15 225 Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited) For the Six Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated June 30, 2021 opening balance adjustments: 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 (5,418 ) (662 ) (6,080 ) Reporting currency translation 94 16 110 December 31, 2021 ending balance adjustments: Deficit (104,494 ) (1,096 ) (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total equity 15,392 (1,096 ) 14,296

GOING CONCERN ISSUES

GOING CONCERN ISSUES	6 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN ISSUES	4. GOING CONCERN ISSUES The Company incurred a loss of $ 6,306 6,080 6,591 116,703 424 The Company’s ability to continue operations and fund its expenditures, which have averaged approximately $ 1,400 Since March 2020, several measures have been implemented in the United States, Canada, and the rest of the world in response to the increased impact from the novel coronavirus (“COVID-19”) pandemic and subsequent COVID-19 variants. In addition, recent worldwide events have created general global economic uncertainty as well as uncertainty in capital markets, supply chain disruptions, increased interest rates, and the potential for geographic recessions. We believe this could have an adverse impact on our ability to obtain financing, development plans, results of operations, financial position, and cash flows during the current fiscal year. The full extent to which 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.

LAND AND BUILDINGS, NET

LAND AND BUILDINGS, NET	6 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
LAND AND BUILDINGS, NET	5. 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

DEFERRED TRANSACTION COSTS

DEFERRED TRANSACTION COSTS	6 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
DEFERRED TRANSACTION COSTS	6. DEFERRED TRANSACTION COSTS The Company has deferred third-party costs, including legal fees, other professional and consulting fees, and due diligence fees, incurred in connection with the proposed transaction discussed in Note 14. These costs are deferred until closing, at which time a portion of the directly attributable costs will be recorded against convertible debt to be entered into in connection with the proposed transaction, with the remainder treated as a reduction to the value of Common Shares issued.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities As of Note December 31, 2022 June 30, 2022 Accounts payable, trade $ 3,431 $ 115 Accounts payable accruals 739 654 Consent accrual 14 200 - Interest payable to related party 10 102 - Other accruals 48 48 Total accounts payable and accrued liabilities $ 4,520 $ 817

CONVERTIBLE DEBT

CONVERTIBLE DEBT	6 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	8. CONVERTIBLE DEBT Changes in the Lind III Convertible Security are as follows: Lind III Convertible Security (Restated) Balance, June 30, 2022 $ 2,169 Accretion expense 121 Fair value increase due to debt extinguishment 201 Conversions (1,950 ) Balance, December 31, 2022 $ 541 Based on the Company’s closing Common Share price of C$ 10.00 515 81,600 0.10 Company would be obligated to issue would change by approximately 800 shares.

COMMON SHARES

COMMON SHARES	6 Months Ended
	Dec. 31, 2022
Equity [Abstract]
COMMON SHARES	9. 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 - - Exercised (260,582 ) 4.90 Cancelled/expired (189,818 ) 5.00 Balance, December 31, 2022 996,000 C$ 9.80 The following table summarizes information about Options outstanding at December 31, 2022: Schedule of information about stock options outstanding Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$ 8.40 September 18, 2023 105,000 C$ 168 105,000 C$ 168 C$ 5.40 November 15, 2023 208,500 959 208,500 959 C$ 7.50 December 14, 2023 182,500 456 182,500 456 C$ 7.50 December 16, 2023 52,500 131 52,500 131 C$ 13.60 December 17, 2024 397,500 - 397,500 - C$ 11.00 May 30, 2025 50,000 - 50,000 - 996,000 C$ 1,714 996,000 C$ 1,714 The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing Common Share price of C$ 10.00 0 b) Warrants Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2022 1,851,624 C$ 11.60 Granted - - Exercised - - Cancelled/expired (50,000 ) 8.00 Balance, December 31, 2022 1,801,624 C$ 11.70 At December 31, 2022, 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 504,613 C$ 11.00 June 30, 2024 855,800 C$ 9.70 February 19, 2025 1,801,624

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	6 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	10. 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 As of December 31, 2022, the principal amount outstanding under the Smith Credit Facility was $ 2,000 102

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	6 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
EXPLORATION EXPENDITURES	11. EXPLORATION EXPENDITURES Schedule of exploration expenditures For the Three Months Ended December 31, For the Six Months Ended December 31, 2022 2021 2022 2021 Technical studies and engineering $ 28 $ 84 $ 137 $ 134 Field management and other 207 157 393 281 Metallurgical development 1,080 150 2,073 586 Geologists and field staff 2 100 2 111 Total $ 1,317 $ 491 $ 2,605 $ 1,112

LEASES

LEASES	6 Months Ended
	Dec. 31, 2022
Leases
LEASES	12. LEASES The Company incurred lease costs as follows: For the Three Months Ended December 31, For the Six Months Ended December 31, 2022 2021 2022 2021 Operating Lease Cost: Fixed rent expense $ 23 $ 23 $ 44 $ 43 Variable rent expense 3 2 6 5 Short-term lease cost 3 2 5 9 Sublease income (12 ) (10 ) (18 ) (15 ) Net lease cost – other operating expense $ 17 $ 17 $ 37 $ 42 The maturities of lease liabilities are as follows at December 31, 2022: Future Lease Maturities Total remaining lease payments $ 70 Less portion of payments representing interest (4 ) Present value of lease payments – current lease liability $ 66

FAIR VALUE MEASURMENTS

FAIR VALUE MEASURMENTS	6 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASURMENTS	13. FAIR VALUE MEASURMENTS 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 December 31, 2022, 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 December 31, 2022 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 424 $ 424 $ - $ - Investment in equity securities 9 9 - - Total $ 433 $ 433 $ - $ - Liabilities: Warrant liability $ 1,305 $ - $ - $ 1,305 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 Lind III Convertible Security discussed in Note 8 was initially recorded at fair value, which represented a nonrecurring fair value measurement using a Level 3 input. At December 31, 2022 and June 30, 2022, the estimated fair value of this instrument approximated carrying value given that the instrument was adjusted to fair value on September 25, 2022 and has a short remaining life until maturity.

PROPOSED TRANSACTION

PROPOSED TRANSACTION	6 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
PROPOSED TRANSACTION	14. PROPOSED TRANSACTION On September 25, 2022, the Company, GX Acquisition Corp. II, a Delaware corporation (“GXII”), and Big Red Merger Sub Ltd (“Merger Sub”), a Delaware corporation incorporated in September 2022, and a direct, wholly owned subsidiary of the Company, entered into a business combination agreement (the “Business Combination Agreement”). Pursuant to the Business Combination Agreement, as the result of a series of transactions, GXII will become a subsidiary of the Company (as successor by merger to the Company’s subsidiary, Elk Creek Resources Corporation, a Delaware corporation (“ECRC”)), with the pre-combination public shareholders of GXII receiving Common Shares based on a fixed exchange ratio of 1.11829212 (the “Exchange Ratio”) Common Shares for each GXII Class A common share held and not redeemed, and the GXII founders receiving shares in GXII (as successor by merger to ECRC) based on the Exchange Ratio. Pursuant to the Business Combination Agreement, after closing of the Transaction (as defined below) (the “Transaction Closing”), the GXII founders will have the right to exchange such shares for Common Shares on a one-for-one basis under certain conditions. Pursuant to the Business Combination Agreement, the Company will also assume the obligations under the issued and outstanding GXII warrants, which will be converted into Warrants following the Transaction Closing. The Business Combination Agreement contemplates that the Company will undertake a reverse stock split of the Common Shares at the time of the Transaction Closing in connection with an expected cross-listing to the Nasdaq Stock Market (“Nasdaq”). In addition, pursuant to the Business Combination Agreement, post-closing, the Company’s Board of Directors will include two directors from pre-combination GXII. The transactions contemplated by the Business Combination Agreement and the ancillary agreements thereto are referred to collectively as the “Transaction.” As currently structured, the Business Combination Agreement is expected to be accounted for as a recapitalization in accordance with U.S. GAAP. Under this method of accounting, GXII will be treated as the “acquired” company for financial reporting purposes. Accordingly, the transaction is treated as the equivalent of NioCorp issuing Common Shares for the net assets of GXII, accompanied by a recapitalization. The net assets of GXII will be stated at historical cost, with no goodwill or other intangible assets recorded. The proposed Transaction is expected to close in the first calendar quarter of 2023, subject to the satisfaction or waiver of certain customary closing conditions contained in the Business Combination Agreement, including, among other things, (i) obtaining required approvals of the Transaction and related matters by the respective shareholders of NioCorp and GXII, (ii) the effectiveness of the registration statement on Form S-4 that the Company originally filed on November 7, 2022, and amended on December 22, 2022, January 17, 2023, January 31, 2023, and February 6, 2023, and was declared effective by the SEC on February 8, 2023, (iii) receipt of approval for listing on Nasdaq of the Common Shares to be issued in connection with the Transaction, (iv) receipt of approval for listing on Nasdaq of the Warrants to be issued in exchange for the GXII warrants that NioCorp has agreed to assume, (v) receipt of approval from the TSX with respect to the issuance and listing of the Common Shares issuable in connection with the Transaction, (vi) that NioCorp and its subsidiaries (including GXII, as successor by merger to ECRC) will have at least $ 5.000001 15 In addition, in connection with the entry into the Business Combination Agreement, the Company announced the signing of non-binding letters of intent for two separate financing packages with Yorkville Advisors Global, LP. As discussed in Note 15, on January 26, 2023, the Company entered into definitive agreements with respect to these financings.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS Yorkville Financings On January 26, 2023, NioCorp entered into definitive agreements with respect to two previously announced financings with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP (together with YA II PN, Ltd., “Yorkville”). The financings contemplated by the definitive agreements include (i) up to $ 16 65 36 The Yorkville Financings are expected to become effective on the date of the Transaction Closing, as previously announced on September 26, 2022. NioCorp intends to use the proceeds from the Yorkville Financings to advance its efforts to launch construction of the Elk Creek Project and move it to commercial operation, and to satisfy the fees and expenses incurred in connection with the Transaction, if required. Completion of the Yorkville Financings is subject to certain conditions, including the completion of the Transaction Closing, the receipt of the approval of the TSX, and the approval of NioCorp’s shareholders in accordance with the rules of the TSX. Yorkville Convertible Debt Financing On January 26, 2023, NioCorp entered into a Securities Purchase Agreement (the “Yorkville Convertible Debt Financing Agreement”), by and between NioCorp and Yorkville. Pursuant to the Yorkville Convertible Debt Financing Agreement, Yorkville, and any investor that exercises its contractual right previously granted by NioCorp to participate in the Yorkville Convertible Debt Financing (collectively with Yorkville, the “Investors”), will advance an initial total amount of $9.6 million to NioCorp in consideration of the issuance by NioCorp to the Investors of $10.0 million aggregate principal amount of Convertible Debentures at the time of the Transaction Closing (the “First Debenture Closing”), and an additional total amount of $5.76 million to NioCorp in consideration of the issuance by NioCorp to the Investors of $6.0 million aggregate principal amount of Convertible Debentures on a date to be determined at the election of NioCorp, but which may not be prior to the later to occur of (i) the date of filing of the Convertible Debt Financing Registration Statement (as defined below) and (ii) the date of the Transaction Closing (together with the First Debenture Closing, the “Debenture Closings”) Each Convertible Debenture issued under the Yorkville Convertible Debt Financing will be an unsecured obligation of NioCorp, will have an 18 5.0 15.0 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 (“VWAP”) 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, unless NioCorp consents to conversion at a lower price, and (ii) the five-day VWAP 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 the 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. Notwithstanding the foregoing, if at any time it shall be a condition to listing or continued listing of the Common Shares on the Nasdaq or such other principal U.S. market for the Common Shares that the Conversion Price be not less than a minimum price (the “Floor Price”), then NioCorp and the holders will negotiate in good faith to amend the Convertible Debentures to provide that the Conversion Price shall not be less than a Floor Price that satisfies such condition. Any Floor Price will be subject to adjustment to give effect to any stock dividend, stock split or recapitalization. The terms of the Convertible Debentures restrict the number of Convertible Debentures that may be converted during each calendar month by an Investor at a Conversion Price below a fixed price equal to the quotient of (i) ten dollars divided by (ii) 1.11829212 (being the number of Common Shares that will be exchanged for each share of GXII at the Transaction Closing), subject to adjustment to give effect to any stock dividend, stock split or recapitalization. The Convertible Debentures will be subject to customary anti-dilution adjustments. 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 million 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 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. In conjunction with each Debenture Closing, NioCorp will issue to the Investors Financing Warrants to purchase a number of Common Shares as is equal to the quotient of the principal amount of Convertible Debentures issued in such Debenture Closing divided by the “Exercise Price”, which is equal to the greater of: (a) the quotient of ten dollars divided by 1.11829212; or (b) the average of the daily VWAPs of the Common Shares on the principal U.S. market for the Common Shares during regular trading hours as reported by Bloomberg Financial Markets during the five consecutive trading days ending on the trading day immediately prior to such Debenture Closing, in each case subject to any adjustment to give effect to any stock dividend, stock split or recapitalization. The Financing Warrants will be exercisable, in whole or in part, but not in increments of less than $ 50 50 The Financing Warrants will 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 Convertible Debentures and the Financing Warrants restrict the conversion of Convertible Debentures or exercise of Financing Warrants by an Investor if such a conversion or exercise would cause the Investor to exceed certain beneficial ownership thresholds in NioCorp or such a conversion or exercise would cause the aggregate number of Common Shares issued pursuant to the Yorkville Convertible Debt Financing to exceed the thresholds for issuance of Common Shares under the rules of the TSX and Nasdaq, unless prior shareholder approval is obtained. The Yorkville Convertible Debt Financing Agreement contains customary representations, warranties, conditions and indemnification obligations by each party. The representations, warranties and covenants contained in the Yorkville Convertible Debt Financing Agreement were made only for purposes of the Yorkville Convertible Debt Financing Agreement and as of specific dates, were solely for the benefit of the parties to such agreement and are subject to certain important limitations. 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. The Yorkville Convertible Debt Financing Agreement will terminate automatically if the Business Combination Agreement is terminated. Also, the Investors will have the right to terminate the Yorkville Convertible Debt Financing Agreement if the First Debenture Closing does not occur on or prior to March 22, 2023. NioCorp will have the right to terminate the Yorkville Convertible Debt Financing Agreement at any time prior to the First Debenture Closing, provided that it will be required to pay a cash termination fee of $ 1.6 On January 26, 2023, in connection with the Yorkville Convertible Debt Financing Agreement, NioCorp and Yorkville also entered into a registration rights agreement (the “Convertible Debt Financing Registration Rights Agreement”) pursuant to which NioCorp has agreed to file with the SEC a registration statement (the “Convertible Debt Financing Registration Statement”) registering the resale by the Investors of the Common Shares issuable upon the conversion of the Convertible Debentures and the exercise of the Financing Warrants under the Securities Act of 1933 (the “Securities Act”), as soon as practicable but no later than 21 calendar days following the Transaction Closing, and to use its reasonable best efforts to have the Convertible Debt Financing Registration Statement declared effective as soon as practicable after the filing thereof, but in no event later than the 45th calendar day following the filing date thereof. NioCorp further agreed to use its reasonable best efforts to cause the Convertible Debt Financing Registration Statement to remain continuously effective for a period that will terminate upon the first date on which all of the Common Shares issuable upon the conversion of the Convertible Debentures and the exercise of the Financing Warrants may be sold without restriction, including volume and manner-of-sale restrictions, pursuant to Rule 144 under the Securities Act or have been sold by Investors. NioCorp also granted to the Investors certain demand rights for underwritten shelf takedowns and piggyback registration rights with respect to the Common Shares issuable upon the conversion of the Convertible Debentures and the exercise of the Financing Warrants. Yorkville Equity Facility Financing On January 26, 2023, NioCorp entered into a Standby Equity Purchase Agreement, (the “Yorkville Equity Facility Financing Agreement”), by and between NioCorp and Yorkville. Pursuant to the Yorkville Equity Facility Financing Agreement, NioCorp will have the right, but not the obligation, to sell Common Shares to Yorkville with a maximum aggregate value of up to $ 65 0.65 million 1.5 million Subject to certain limitations, including those as described below, and adjustments contained within the Yorkville Equity Facility Financing Agreement, NioCorp will have the option to sell Common Shares to Yorkville at a purchase price equal to (a) 97% of the VWAP of the Common Shares on the principal U.S. market for the Common Shares during the applicable pricing period, which is a period during a single trading day defined based on when NioCorp submits written notice (an “Advance Notice”) to Yorkville exercising its right to an Advance (“Purchase Price Option #1”); or (b) 97% of the average of the daily VWAPs of the Common Shares on the principal U.S. market for the Common Shares during a pricing period of three consecutive trading days commencing on the trading day an Advance Notice is received by Yorkville, if it is received by 9:30 a.m., New York City time, or the immediately following trading day if it is received after 9:30 a.m., New York City time (“Purchase Price Option #2”). Purchase Price Option # 2 will be used whenever any Convertible Debentures issued to Yorkville pursuant to the Yorkville Convertible Debt Financing Agreement are outstanding, unless waived by Yorkville. The Yorkville Equity Facility Financing Agreement limits the number of Common Shares that may be issued to Yorkville in each Advance to the greater of (a) 500,000 Common Shares and (b) the number of Common Shares equal to 100% of the average daily volume traded of the Common Shares on the Nasdaq during the five trading days prior to an Advance Subject to certain other conditions, NioCorp may deliver an Advance Notice only after the completion of the preceding Advance and only so long as the Equity Facility Financing Registration Statement (as defined below) is effective and Yorkville is permitted to utilize the prospectus thereunder to resell all of the Common Shares issuable pursuant to such Advance Notice. Pursuant to the Yorkville Equity Facility Financing Agreement, NioCorp must prepare and file with the SEC a registration statement registering the resale in the United States of the Common Shares issuable pursuant to the Yorkville Equity Facility Financing Agreement (the “Equity Facility Financing Registration Statement”). Pursuant to the Yorkville Equity Facility Financing Agreement, NioCorp in its sole discretion may choose when to file the Equity Facility Financing Registration Statement. Once effective, NioCorp has agreed to use its commercially reasonable efforts to maintain the effectiveness of the Equity Facility Financing Registration Statement at all times until the earliest to occur of (i) receipt of notice that Yorkville has completed resales of the full Commitment Amount pursuant to the Equity Facility Financing Registration Statement, (ii) the 180th day following the latest closing of an Advance that has occurred and (iii) the 180th day following the termination of the Yorkville Equity Facility Financing Agreement in accordance with its terms. The Yorkville Equity Facility Financing Agreement contains customary representations, warranties, conditions and indemnification obligations by each party. The representations, warranties and covenants contained in the Yorkville Equity Facility Financing Agreement were made only for purposes of the Yorkville Equity Facility Financing Agreement and as of specific dates, were solely for the benefit of the parties to such agreement and are subject to certain important limitations. The Yorkville Equity Facility Financing Agreement will terminate automatically following the expiration of the Commitment Period. In addition, the Yorkville Equity Facility Financing Agreement will terminate automatically if the Business Combination Agreement is terminated. Also, NioCorp will have the right to terminate the Yorkville Convertible Debt Financing Agreement effective upon five trading days' prior written notice to Yorkville, as long as there are no outstanding unsettled Advances and provided that it will be required to pay all amounts owed to Yorkville thereunder, including, without limitation, any unpaid portion of the Cash Fee. The parties may also terminate the Yorkville Equity Facility Financing Agreement by mutual written consent. The Convertible Debentures, the Financing Warrants, the Common Shares issuable upon conversion of the Convertible Debentures and upon exercise of the Financing Warrants, the Common Shares issuable pursuant to an Advance and the $0.65 million worth of Common Shares issuable to Yorkville for no additional consideration will not be qualified for distribution by prospectus in any jurisdiction of Canada, and may not be offered for sale, sold, assigned or transferred in any jurisdiction of Canada except pursuant to a prospectus or exemption from the prospectus requirement under applicable securities laws in Canada. Yorkville will not be permitted to offer or sell any such securities directly or indirectly to any person whom, to Yorkville's knowledge, is resident or located in a jurisdiction of Canada or acquiring such Common Shares for the benefit of another person resident or located in a jurisdiction of Canada, or on any marketplace in Canada.

BASIS OF PREPARATION (Policies)

BASIS OF PREPARATION (Policies)	6 Months Ended
	Dec. 31, 2022
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 generally accepted accounting principles of the United States of America (“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 reclassifications and normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at December 31, 2022, 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, 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 On March 17, 2023, the Company effected a reverse stock split (the “Reverse Stock Split”) of its common shares, without par value (“Common Shares”), 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. All references to share and per share amounts (excluding authorized shares), as well as Option and Warrant (each as defined below) amounts and exercise prices, in the condensed consolidated financial statements and accompanying notes have also been restated to give retroactive effect to the Reverse Stock Split. Basic net loss per share is computed by dividing net loss by the weighted average number of the Company’s Common Shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of Common Share equivalents outstanding for the period determined using the treasury stock method or the if-converted method, as applicable. For purposes of this calculation, options to purchase Common Shares (“Options”) and warrants to purchase Common Shares (“Warrants”) are considered to be Common Share equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive. The following shares underlying Options, Warrants, and outstanding convertible debt were antidilutive due to a net loss in the periods presented and, therefore, were excluded from the dilutive securities computation for the three- and six-month periods ended December 31, 2022 and 2021, as indicated below. Schedule of excluded from the dilutive securities For the three and six months ended December 31, 2022 2021 Excluded potentially dilutive securities (1) Options 996,000 1,831,500 Warrants 1,801,625 1,347,011 Convertible debt 81,600 780,400 Total potential dilutive securities 2,879,225 3,958,911 (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

BASIS OF PREPARATION (Tables)

BASIS OF PREPARATION (Tables)	6 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities For the three and six months ended December 31, 2022 2021 Excluded potentially dilutive securities (1) Options 996,000 1,831,500 Warrants 1,801,625 1,347,011 Convertible debt 81,600 780,400 Total potential dilutive securities 2,879,225 3,958,911 (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

RESTATEMENT (Tables)

RESTATEMENT (Tables)	6 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
The following table summarizes the components of the initial loss on debt extinguishment:	The following table summarizes the components of the initial loss on debt extinguishment: 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
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	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 Key Valuation Input September 25, 2022 September 30, 2022 December Share price on valuation date $ 7.82 $ 10.40 $ 7.40 Volatility 62.4 % 63.4 % 63.5 % Risk free rate 3.93 % 4.04 % 3.98 % Probability of issuance 59.4 % 45.5 % 62.5 %
Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited)	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 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)	Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended December 31, 2022 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) 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 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 - 1,662 1,662 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 27,924,447 - 27,924,447 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 27,792,631 - 27,792,631 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Three Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated Interest expense $ 488 $ 534 $ 1,022 Loss before income taxes 3,458 534 3,992 Net loss 3,458 534 3,992 Reporting currency translation 15 (1 ) 14 Total comprehensive loss 3,473 533 4,006 Loss per share $ 0.13 $ 0.02 $ 0.15 Weighted average shares outstanding 26,139,224 - 26,139,224 Restatement Impacts to the Condensed Consolidated Statement of Operations and Comprehensive Loss (unaudited) For the Six Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated Foreign exchange loss $ 149 $ 15 $ 164 Interest expense 980 647 1,627 Loss before income taxes 5,418 662 6,080 Net loss 5,418 662 6,080 Reporting currency translation (94 ) (16 ) (110 ) Total comprehensive loss 5,324 646 5,970 Loss per share $ 0.21 $ 0.02 $ 0.23 Weighted average shares outstanding 25,973,432 - 25,973,432
Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited)	Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) For the Six Months Ended December 31, 2022 Restatement Impacts to the Condensed Consolidated Statement of Cash Flows (unaudited) 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 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, 2021 As Previously Reported Restatement Impacts Restated CASH FLOWS FROM OPERATING ACTIVITIES Total loss for the period $ (5,418 ) $ (662 ) $ (6,080 ) Accretion of convertible debt 877 647 1,524 Foreign exchange loss 210 15 225
Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited)	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 - (2,208 ) - (2,208 ) Balance, December 31, 2022 $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, September 30, 2022 $ - $ (1,323 ) $ - $ (1,323 ) Loss for the period - (221 ) - (221 ) Balance, December 31, 2022 $ - $ (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 - (2,429 ) - (2,429 ) Balance, December 31, 2022, as restated $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited) 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 - (4,762 ) - (4,762 ) Balance, December 31, 2022 $ 130,995 $ (115,159 ) $ (1,023 ) $ 14,813 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period - (1,544 ) - (1,544 ) Balance, December 31, 2022 $ - $ (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 - (6,306 ) - (6,306 ) Balance, December 31, 2022, as restated $ 130,995 $ (116,703 ) $ (1,023 ) $ 13,269 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 - (2,554 ) - (2,554 ) Balance, September 30, 2022 $ 130,684 $ (112,951 ) $ (998 ) $ 16,735 Restatement Impacts Balance, June 30, 2022 $ - $ - $ - $ - Loss for the period - (1,323 ) - (1,323 ) Balance, September 30, 2022 $ - $ (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 - (3,877 ) - (3,877 ) Balance, September 30, 2022, as restated $ 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, 2021 As Previously Reported Restatement Impacts Restated September 30, 2021 opening balance adjustments: Deficit $ (101,036 ) $ (562 ) $ (101,598 ) Accumulated other comprehensive loss (1,034 ) (1 ) (1,035 ) Total Shareholders’ equity 13,826 (563 ) 13,263 Activity adjustments: Loss for the period (3,458 ) (534 ) (3,992 ) Reporting currency translation (15 ) 1 (14 ) December 31, 2021 ending balance adjustments: Deficit (104,494 ) (1,096 ) (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total equity 15,392 (1,096 ) 14,296 Restatement Impacts to the Condensed Consolidated Statement of Shareholders' Equity (unaudited) For the Six Months Ended December 31, 2021 As Previously Reported Restatement Impacts Restated June 30, 2021 opening balance adjustments: 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 (5,418 ) (662 ) (6,080 ) Reporting currency translation 94 16 110 December 31, 2021 ending balance adjustments: Deficit (104,494 ) (1,096 ) (105,590 ) Accumulated other comprehensive loss (1,049 ) - (1,049 ) Total equity 15,392 (1,096 ) 14,296

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities	Schedule of account payable and accrued liabilities As of Note December 31, 2022 June 30, 2022 Accounts payable, trade $ 3,431 $ 115 Accounts payable accruals 739 654 Consent accrual 14 200 - Interest payable to related party 10 102 - Other accruals 48 48 Total accounts payable and accrued liabilities $ 4,520 $ 817

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	6 Months Ended
	Dec. 31, 2022
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 Convertible Security (Restated) Balance, June 30, 2022 $ 2,169 Accretion expense 121 Fair value increase due to debt extinguishment 201 Conversions (1,950 ) Balance, December 31, 2022 $ 541

COMMON SHARES (Tables)

COMMON SHARES (Tables)	6 Months Ended
	Dec. 31, 2022
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 - - Exercised (260,582 ) 4.90 Cancelled/expired (189,818 ) 5.00 Balance, December 31, 2022 996,000 C$ 9.80
Schedule of information about stock options outstanding	The following table summarizes information about Options outstanding at December 31, 2022: Schedule of information about stock options outstanding Exercise Price Expiry Date Number Outstanding Aggregate Intrinsic Value Number Exercisable Aggregate Intrinsic Value C$ 8.40 September 18, 2023 105,000 C$ 168 105,000 C$ 168 C$ 5.40 November 15, 2023 208,500 959 208,500 959 C$ 7.50 December 14, 2023 182,500 456 182,500 456 C$ 7.50 December 16, 2023 52,500 131 52,500 131 C$ 13.60 December 17, 2024 397,500 - 397,500 - C$ 11.00 May 30, 2025 50,000 - 50,000 - 996,000 C$ 1,714 996,000 C$ 1,714
Schedule of warrant transactions	Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2022 1,851,624 C$ 11.60 Granted - - Exercised - - Cancelled/expired (50,000 ) 8.00 Balance, December 31, 2022 1,801,624 C$ 11.70
Schedule of outstanding exercisable warrants	At December 31, 2022, 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 504,613 C$ 11.00 June 30, 2024 855,800 C$ 9.70 February 19, 2025 1,801,624

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	6 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
Schedule of exploration expenditures	Schedule of exploration expenditures For the Three Months Ended December 31, For the Six Months Ended December 31, 2022 2021 2022 2021 Technical studies and engineering $ 28 $ 84 $ 137 $ 134 Field management and other 207 157 393 281 Metallurgical development 1,080 150 2,073 586 Geologists and field staff 2 100 2 111 Total $ 1,317 $ 491 $ 2,605 $ 1,112

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Dec. 31, 2022
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the Three Months Ended December 31, For the Six Months Ended December 31, 2022 2021 2022 2021 Operating Lease Cost: Fixed rent expense $ 23 $ 23 $ 44 $ 43 Variable rent expense 3 2 6 5 Short-term lease cost 3 2 5 9 Sublease income (12 ) (10 ) (18 ) (15 ) Net lease cost – other operating expense $ 17 $ 17 $ 37 $ 42
The maturities of lease liabilities are as follows at December 31, 2022:	The maturities of lease liabilities are as follows at December 31, 2022: Future Lease Maturities Total remaining lease payments $ 70 Less portion of payments representing interest (4 ) Present value of lease payments – current lease liability $ 66

FAIR VALUE MEASURMENTS (Tables)

FAIR VALUE MEASURMENTS (Tables)	6 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of fair values determined by level 3 inputs are unobservable data	Schedule of fair values determined by level 3 inputs are unobservable data As of December 31, 2022 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 424 $ 424 $ - $ - Investment in equity securities 9 9 - - Total $ 433 $ 433 $ - $ - Liabilities: Warrant liability $ 1,305 $ - $ - $ 1,305 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 $ - $ -

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - shares		6 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options	[1]	996,000	1,831,500
Warrants	[1]	1,801,625	1,347,011
Convertible debt	[1]	81,600	780,400
Total potential dilutive securities	[1]	2,879,225	3,958,911
[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

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	6 Months Ended
	Dec. 31, 2022 Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

The following table summarizes

The following table summarizes the components of the initial loss on debt extinguishment: (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($)
Commitments and Contingencies 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

Changes in the fair value of th

Changes in the fair value of the Contingent Consent Warrants are presented below: (Details) - USD ($) $ in Thousands		6 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Initial valuation, at begining	$ 1,221	$ 964
Change in valuation	$ (257)	341
Initial valuation, at ending		$ 1,305

The following table discloses t

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 (Details)	Dec. 31, 2022 $ / shares	Sep. 30, 2022 $ / shares	Sep. 25, 2022 $ / shares
Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share price on valuation date (in dollars per shares)	$ 7.40	$ 10.40	$ 7.82
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.635	0.634	0.624
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0398	0.0404	0.0393
Probability of Issuance [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.625	0.455	0.594

Restatement Impacts to the Cond

Restatement Impacts to the Condensed Consolidated Balance Sheet (unaudited) (Details) - USD ($) $ in Thousands	Dec. 31, 2022		Sep. 30, 2022		Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021
Deferred transaction costs	$ 4,138		$ 2,609
Total assets	21,701		23,046		22,756
Convertible debt	541		914		2,169
Total current liabilities	7,127		6,670		5,068
Warrant liability	1,305		964
Total liabilities	8,432		7,634		5,091
Accumulated deficit	(116,703)		(114,274)		(110,397)
Total shareholders’ equity	13,269	[1]	15,412	[1]	17,665	$ 14,296	$ 13,263	$ 13,213
Total liabilities and equity	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	15,392	13,826	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)			$ (1,096)	$ (563)	$ (450)
Total liabilities and equity	$ (200)		$ (200)
[1]Amounts are restated. See Note 3 for more information.

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
	Dec. 31, 2022		Sep. 30, 2022	Dec. 31, 2021		Dec. 31, 2022		Dec. 31, 2021
Interest expense (income)	$ (38)		$ 258	$ 1,022		$ 220		$ 1,627
Change in fair value of warrant liability	341	[1]	(257)			84	[1]
Loss before income taxes	2,429		(3,877)	3,992				6,080
Net loss	2,429	[2]	3,877	3,992		6,306	[3]	6,080
Total comprehensive loss	$ 2,454	[1]	$ 3,882	$ 4,006		$ 6,336	[1]	$ 5,970
Loss per share	$ 0.09	[1],[4]	$ 0.14	$ 0.15	[4]	$ 0.23	[1],[4]	$ 0.23	[4]
Weighted average shares outstanding	28,056,263	[1],[4]	27,792,631	26,139,224	[4]	27,924,447	[1],[4]	25,973,432	[4]
Loss on debt extinguishment						$ (1,622)
Loss before income taxes						6,306
Net loss						6,306
Previously Reported [Member]
Interest expense (income)	$ 82		$ 300	$ 488		382		$ 980
Change in fair value of warrant liability
Loss before income taxes	2,208		(2,554)	3,458				5,418
Net loss	2,208		(2,554)	3,458				5,418
Total comprehensive loss	$ 2,233		$ 2,559	$ 3,473		$ 4,792		$ 5,324
Loss per share	$ 0.08		$ 0.09	$ 0.13		$ 0.17		$ 0.21
Weighted average shares outstanding	28,056,263		27,792,631	26,139,224		27,924,447		25,973,432
Loss on debt extinguishment
Loss before income taxes						4,762
Net loss						4,762
Revision of Prior Period, Adjustment [Member]
Interest expense (income)	$ (120)		$ (42)	$ 534		(162)		$ 647
Change in fair value of warrant liability	341		(257)			84
Loss before income taxes	221		(1,323)	534				662
Net loss	221		1,323	534		1,544		662
Total comprehensive loss	$ 221		$ 1,323	$ 533		$ 1,544		$ 646
Loss per share	$ 0.01		$ 0.05	$ 0.02		$ 0.06		$ 0.02
Weighted average shares outstanding
Loss on debt extinguishment						$ 1,662
Loss before income taxes						1,544
Net loss						$ 1,544
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated. See Note 3 for more information.[3]Amounts are restated. See Note 3 for more information.[4]Amounts are restated to give effect to the Reverse Stock Split. See Note 2d for more information.

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
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Total loss for the period		$ (6,306)
Accretion of convertible debt	$ 194	121	$ 1,524
Loss on debt extinguishment		1,622
Change in financial instrument fair value	(257)	84
Previously Reported [Member]
Total loss for the period		(4,762)
Accretion of convertible debt	236	283	877
Loss on debt extinguishment
Change in financial instrument fair value
Revision of Prior Period, Adjustment [Member]
Total loss for the period		(1,544)
Accretion of convertible debt	(42)	(162)	$ 647
Loss on debt extinguishment		1,622
Change in financial instrument fair value	$ (257)	$ 84

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
	Dec. 31, 2022		Sep. 30, 2022		Dec. 31, 2021	Dec. 31, 2022		Dec. 31, 2021
Beginning balance, value	$ 15,412	[1]	$ 17,665		$ 13,263	$ 17,665		$ 13,213
Exercise of warrants	11				299	11		420
Debt conversions	300		1,650		3,172	1,950		4,522
Reporting currency translation	(25)		(5)		(14)	(30)		110
Loss for the period As restated	(2,429)	[1]	(3,877)		(3,992)	(6,306)	[2]	(6,080)
Balance, December 31, 2022, as restated	13,269	[1]	15,412	[1]	14,296	13,269	[1]	14,296
Share issuance costs	300					(21)
Previously Reported [Member]
Beginning balance, value	16,735		17,665		13,826	17,665		13,663
Exercise of warrants	11					11
Debt conversions	300		1,650			1,950
Reporting currency translation	(25)		(5)		(15)	(30)		94
Loss for the period As restated	(2,208)		2,554		(3,458)			(5,418)
Balance, December 31, 2022, as restated	14,813		16,735		15,392	14,813		15,392
Share issuance costs						(21)
Loss for the period						(4,762)
Revision of Prior Period, Adjustment [Member]
Beginning balance, value	(1,323)				(563)			(450)
Reporting currency translation					1			16
Loss for the period As restated	(221)		(1,323)		(534)	(1,544)		(662)
Balance, December 31, 2022, as restated	(1,544)		(1,323)		(1,096)	(1,544)		(1,096)
Common Stock [Member]
Beginning balance, value	130,684	[1]	129,055		115,896	129,055		113,882
Exercise of warrants	11				299	11		420
Debt conversions	300		1,650		3,172	1,950		4,522
Reporting currency translation
Loss for the period As restated		[1]					[2]
Balance, December 31, 2022, as restated	130,995	[1]	130,684	[1]	120,935	130,995	[1]	120,935
Share issuance costs						(21)
Common Stock [Member] | Previously Reported [Member]
Beginning balance, value	130,684		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
Balance, December 31, 2022, as restated	130,995		130,684			130,995
Share issuance costs						(21)
Loss for the period
Common Stock [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value
Loss for the period As restated
Balance, December 31, 2022, as restated
Retained Earnings [Member]
Beginning balance, value	(114,274)	[1]	(110,397)		(101,598)	(110,397)		(99,510)
Exercise of warrants
Debt conversions
Reporting currency translation
Loss for the period As restated	(2,429)	[1]	(3,877)		(3,992)	(6,306)	[2]	(6,080)
Balance, December 31, 2022, as restated	(116,703)	[1]	(114,274)	[1]	(105,590)	(116,703)	[1]	(105,590)
Share issuance costs
Retained Earnings [Member] | Previously Reported [Member]
Beginning balance, value	(112,951)		(110,397)		(101,036)	(110,397)		(99,076)
Exercise of warrants
Debt conversions
Reporting currency translation
Loss for the period As restated	(2,208)		2,554
Balance, December 31, 2022, as restated	(115,159)		(112,951)		(104,494)	(115,159)		(104,494)
Share issuance costs
Loss for the period						(4,762)
Retained Earnings [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value	(1,323)				(562)			(434)
Loss for the period As restated	(221)		(1,323)			(1,544)
Balance, December 31, 2022, as restated	(1,544)		(1,323)		(1,096)	(1,544)		(1,096)
AOCI Attributable to Parent [Member]
Beginning balance, value	(998)	[1]	(993)		(1,035)	(993)		(1,159)
Exercise of warrants
Debt conversions
Reporting currency translation	(25)		(5)		(14)	(30)		110
Loss for the period As restated		[1]					[2]
Balance, December 31, 2022, as restated	(1,023)	[1]	(998)	[1]	(1,049)	(1,023)	[1]	(1,049)
Share issuance costs
AOCI Attributable to Parent [Member] | Previously Reported [Member]
Beginning balance, value	(998)		(993)		(1,034)	(993)		(1,143)
Exercise of warrants
Debt conversions
Reporting currency translation	(25)		(5)			(30)
Loss for the period As restated
Balance, December 31, 2022, as restated	(1,023)		(998)		(1,049)	(1,023)		(1,049)
Share issuance costs
Loss for the period
AOCI Attributable to Parent [Member] | Revision of Prior Period, Adjustment [Member]
Beginning balance, value					(1)			(16)
Loss for the period As restated
Balance, December 31, 2022, as restated
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated. See Note 3 for more information.

RESTATEMENT (Details Narrative)

RESTATEMENT (Details Narrative) - USD ($)	3 Months Ended						6 Months Ended
	Dec. 31, 2022		Sep. 30, 2022		Dec. 31, 2021		Dec. 31, 2022		Dec. 31, 2021		Jun. 30, 2022
Loss Contingencies [Line Items]
Maximum consent payment at inception							$ 500
Minimum consent payment at inception							200,000
Deferred transaction costs	$ 4,138,000		$ 2,609,000				4,138,000
Total assets	21,701,000		23,046,000				21,701,000				22,756,000
Convertible debt	541,000		914,000				541,000				2,169,000
Total current liabilities	7,127,000		6,670,000				7,127,000				5,068,000
Warrant liability	1,305,000		964,000				1,305,000
Total liabilities	8,432,000		7,634,000				8,432,000				5,091,000
Accumulated deficit	(116,703,000)		(114,274,000)				(116,703,000)				(110,397,000)
Total Shareholders' equity	13,269,000	[1]	15,412,000	[1]	$ 14,296,000		13,269,000	[1]	$ 14,296,000		17,665,000
Total liabilities and equity	21,701,000		23,046,000				21,701,000				22,756,000
Interest expense	(38,000)		258,000		1,022,000		220,000		1,627,000
Loss on debt extinguishment		[2]	1,622,000				1,622,000	[2]
Change in fair value of warrant liability	341,000	[2]	(257,000)				84,000	[2]
Loss before income taxes	(2,429,000)		3,877,000		(3,992,000)				(6,080,000)
Net loss for the period	(2,429,000)	[1]	(3,877,000)		(3,992,000)		(6,306,000)	[3]	(6,080,000)
Total comprehensive loss	$ 2,454,000	[2]	$ 3,882,000		$ 4,006,000		$ 6,336,000	[2]	$ 5,970,000
Loss per share	$ 0.09	[2],[4]	$ 0.14		$ 0.15	[4]	$ 0.23	[2],[4]	$ 0.23	[4]
Weighted average shares outstanding	28,056,263	[2],[4]	27,792,631		26,139,224	[4]	27,924,447	[2],[4]	25,973,432	[4]
Accretion of convertible debt			$ 194,000				$ 121,000		$ 1,524,000
Change in financial instrument fair value			(257,000)				84,000
Beginning balance, value	$ 15,412,000	[1]	17,665,000		$ 13,263,000		17,665,000		13,213,000
Debt conversions	300,000		1,650,000		3,172,000		1,950,000		4,522,000
Share issuance costs			(21,000)
Share issuance costs			21,000
Reporting currency translation	(25,000)		(5,000)		(14,000)		(30,000)		110,000
Net loss	2,429,000	[1]	3,877,000		3,992,000		6,306,000	[3]	6,080,000
Balance, December 31, 2022, as restated	13,269,000	[1]	15,412,000	[1]	14,296,000		13,269,000	[1]	14,296,000
Loss before income taxes	2,429,000		(3,877,000)		3,992,000				6,080,000
Reporting currency translation	25,000	[2]			14,000		30,000	[2]	(110,000)
Foreign exchange loss	(64,000)	[2]			(61,000)		109,000	[2]	164,000
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss							(151,000)		(225,000)
Foreign exchange loss							151,000		225,000
Common Stock [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	130,995,000	[1]	130,684,000	[1]	120,935,000		130,995,000	[1]	120,935,000		129,055,000
Net loss for the period		[1]						[3]
Beginning balance, value	130,684,000	[1]	129,055,000		115,896,000		129,055,000		113,882,000
Debt conversions	300,000		1,650,000		3,172,000		1,950,000		4,522,000
Share issuance costs			(21,000)
Share issuance costs			21,000
Reporting currency translation
Net loss		[1]						[3]
Balance, December 31, 2022, as restated	130,995,000	[1]	130,684,000	[1]	120,935,000		130,995,000	[1]	120,935,000
Retained Earnings [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	(116,703,000)	[1]	(114,274,000)	[1]	(105,590,000)		(116,703,000)	[1]	(105,590,000)		(110,397,000)
Net loss for the period	(2,429,000)	[1]	(3,877,000)		(3,992,000)		(6,306,000)	[3]	(6,080,000)
Beginning balance, value	(114,274,000)	[1]	(110,397,000)		(101,598,000)		(110,397,000)		(99,510,000)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation
Net loss	2,429,000	[1]	3,877,000		3,992,000		6,306,000	[3]	6,080,000
Balance, December 31, 2022, as restated	(116,703,000)	[1]	(114,274,000)	[1]	(105,590,000)		(116,703,000)	[1]	(105,590,000)
AOCI Attributable to Parent [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	(1,023,000)	[1]	(998,000)	[1]	(1,049,000)		(1,023,000)	[1]	(1,049,000)		(993,000)
Net loss for the period		[1]						[3]
Beginning balance, value	(998,000)	[1]	(993,000)		(1,035,000)		(993,000)		(1,159,000)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation	(25,000)		(5,000)		(14,000)		(30,000)		110,000
Net loss		[1]						[3]
Balance, December 31, 2022, as restated	(1,023,000)	[1]	(998,000)	[1]	(1,049,000)		(1,023,000)	[1]	(1,049,000)
Previously Reported [Member]
Loss Contingencies [Line Items]
Deferred transaction costs	4,338,000		2,809,000				4,338,000
Total assets	21,901,000		23,246,000				21,901,000
Convertible debt	502,000		755,000				502,000
Total current liabilities	7,088,000		6,511,000				7,088,000
Warrant liability
Total liabilities	7,088,000		6,511,000				7,088,000
Accumulated deficit	(115,159,000)		(112,951,000)				(115,159,000)
Total Shareholders' equity	14,813,000		16,735,000		15,392,000		14,813,000		15,392,000		17,665,000
Total liabilities and equity	21,901,000		23,246,000				21,901,000
Interest expense	82,000		300,000		488,000		382,000		980,000
Loss on debt extinguishment
Change in fair value of warrant liability
Loss before income taxes	(2,208,000)		2,554,000		(3,458,000)				(5,418,000)
Net loss for the period	(2,208,000)		2,554,000		(3,458,000)				(5,418,000)
Total comprehensive loss	$ 2,233,000		$ 2,559,000		$ 3,473,000		$ 4,792,000		$ 5,324,000
Loss per share	$ 0.08		$ 0.09		$ 0.13		$ 0.17		$ 0.21
Weighted average shares outstanding	28,056,263		27,792,631		26,139,224		27,924,447		25,973,432
Accretion of convertible debt			$ 236,000				$ 283,000		$ 877,000
Change in financial instrument fair value
Beginning balance, value	$ 16,735,000		17,665,000		$ 13,826,000		17,665,000		13,663,000
Debt conversions	300,000		1,650,000				1,950,000
Share issuance costs			(21,000)
Share issuance costs			21,000
Reporting currency translation	(25,000)		(5,000)		(15,000)		(30,000)		94,000
Net loss	2,208,000		(2,554,000)		3,458,000				5,418,000
Balance, December 31, 2022, as restated	14,813,000		16,735,000		15,392,000		14,813,000		15,392,000
Loss before income taxes	2,208,000		(2,554,000)		3,458,000				5,418,000
Reporting currency translation					15,000				(94,000)
Foreign exchange loss									149,000
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss									210,000
Foreign exchange loss									(210,000)
Previously Reported [Member] | Common Stock [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	130,995,000		130,684,000				130,995,000				129,055,000
Net loss for the period
Beginning balance, value	130,684,000		129,055,000				129,055,000
Debt conversions	300,000		1,650,000				1,950,000
Share issuance costs			(21,000)
Share issuance costs			21,000
Reporting currency translation
Net loss
Balance, December 31, 2022, as restated	130,995,000		130,684,000				130,995,000
Previously Reported [Member] | Retained Earnings [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	(115,159,000)		(112,951,000)		(104,494,000)		(115,159,000)		(104,494,000)		(110,397,000)
Net loss for the period	(2,208,000)		2,554,000
Beginning balance, value	(112,951,000)		(110,397,000)		(101,036,000)		(110,397,000)		(99,076,000)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation
Net loss	2,208,000		(2,554,000)
Balance, December 31, 2022, as restated	(115,159,000)		(112,951,000)		(104,494,000)		(115,159,000)		(104,494,000)
Previously Reported [Member] | AOCI Attributable to Parent [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	(1,023,000)		(998,000)		(1,049,000)		(1,023,000)		(1,049,000)		(993,000)
Net loss for the period
Beginning balance, value	(998,000)		(993,000)		(1,034,000)		(993,000)		(1,143,000)
Debt conversions
Share issuance costs
Share issuance costs
Reporting currency translation	(25,000)		(5,000)				(30,000)
Net loss
Balance, December 31, 2022, as restated	(1,023,000)		(998,000)		(1,049,000)		(1,023,000)		(1,049,000)
Revision of Prior Period, Adjustment [Member]
Loss Contingencies [Line Items]
Deferred transaction costs	(200,000)		(200,000)				(200,000)
Total assets	(200,000)		(200,000)				(200,000)
Convertible debt	39,000		159,000				39,000
Total current liabilities	39,000		159,000				39,000
Warrant liability	1,305,000		964,000				1,305,000
Total liabilities	1,344,000		1,123,000				1,344,000
Accumulated deficit	(1,544,000)		(1,323,000)				(1,544,000)
Total Shareholders' equity	(1,544,000)		(1,323,000)		(1,096,000)		(1,544,000)		(1,096,000)
Total liabilities and equity	(200,000)		(200,000)				(200,000)
Interest expense	(120,000)		(42,000)		534,000		(162,000)		647,000
Loss on debt extinguishment			1,622,000
Change in fair value of warrant liability	341,000		(257,000)				84,000
Loss before income taxes	(221,000)		1,323,000		(534,000)				(662,000)
Net loss for the period	(221,000)		(1,323,000)		(534,000)		(1,544,000)		(662,000)
Total comprehensive loss	$ 221,000		$ 1,323,000		$ 533,000		$ 1,544,000		$ 646,000
Loss per share	$ 0.01		$ 0.05		$ 0.02		$ 0.06		$ 0.02
Weighted average shares outstanding
Accretion of convertible debt			$ (42,000)				$ (162,000)		$ 647,000
Change in financial instrument fair value			(257,000)				84,000
Beginning balance, value	$ (1,323,000)				$ (563,000)				(450,000)
Reporting currency translation					1,000				16,000
Net loss	221,000		1,323,000		534,000		1,544,000		662,000
Balance, December 31, 2022, as restated	(1,544,000)		(1,323,000)		(1,096,000)		(1,544,000)		(1,096,000)
Loss before income taxes	221,000		(1,323,000)		534,000				662,000
Reporting currency translation					(1,000)				(16,000)
Foreign exchange loss									15,000
CASH FLOWS FROM OPERATING ACTIVITIES
Foreign exchange loss									15,000
Foreign exchange loss									(15,000)
Revision of Prior Period, Adjustment [Member] | Common Stock [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity
Net loss for the period
Beginning balance, value
Net loss
Balance, December 31, 2022, as restated
Revision of Prior Period, Adjustment [Member] | Retained Earnings [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity	(1,544,000)		(1,323,000)		(1,096,000)		(1,544,000)		(1,096,000)
Net loss for the period	(221,000)		(1,323,000)				(1,544,000)
Beginning balance, value	(1,323,000)				(562,000)				(434,000)
Net loss	221,000		1,323,000				1,544,000
Balance, December 31, 2022, as restated	(1,544,000)		(1,323,000)		(1,096,000)		(1,544,000)		(1,096,000)
Revision of Prior Period, Adjustment [Member] | AOCI Attributable to Parent [Member]
Loss Contingencies [Line Items]
Total Shareholders' equity
Net loss for the period
Beginning balance, value					(1,000)				(16,000)
Net loss
Balance, December 31, 2022, as restated
Minimum [Member]
Loss Contingencies [Line Items]
Minimum consent payment at inception							$ 200
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated. See Note 3 for more information.[3]Amounts are restated. See Note 3 for more information.[4]Amounts are restated to give effect to the Reverse Stock Split. See Note 2d for more information.

GOING CONCERN ISSUES (Details N

GOING CONCERN ISSUES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2022		Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2022		Dec. 31, 2021	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 2,429	[1]	$ 3,877	$ 3,992	$ 6,306	[2]	$ 6,080
Working capital deficit	6,591				6,591
Accumulated deficit	(116,703)		$ (114,274)		(116,703)			$ (110,397)
Cash	$ 424				424
Capital expenditure of operations					$ (109,005)
[1]Amounts are restated. See Note 3 for more information.[2]Amounts are restated. See Note 3 for more information.

LAND AND BUILDINGS, NET (Detail

LAND AND BUILDINGS, NET (Details Narrative) - Land Improvements [Member] - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2022	Dec. 31, 2022
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	Dec. 31, 2022	Jun. 30, 2022
Payables and Accruals [Abstract]
Accounts payable, trade	$ 3,431	$ 115
Accounts payable accruals	739	654
Consent accrual	200
Interest payable to related party	102
Other accruals	48	48
Total accounts payable and accrued liabilities	$ 4,520	$ 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
	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Beginning balance	$ 2,169	$ 2,169
Accretion expense	194	121	$ 1,524
Fair value increase due to debt extinguishment		(1,622)
Ending balance	914	541
Convertible Security [Member]
Short-Term Debt [Line Items]
Beginning balance	$ 2,169	2,169
Accretion expense		121
Fair value increase due to debt extinguishment		201
Conversions		(1,950)
Ending balance		$ 541

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Short-Term Debt [Line Items]
Convertible security | $	$ 515
Convertible Security [Member] | Lind Asset Management I V L L C [Member]
Short-Term Debt [Line Items]
Number of shares issued upon debt conversion | shares	81,600
Description of change fair value	Company would be obligated to issue would change by approximately 800 shares.
Nordmin Convertible Note [Member] | Canada, Dollars
Short-Term Debt [Line Items]
Shares price	$ 10
Nordmin Agreement [Member] | Canada, Dollars | Nordmin Convertible Note [Member]
Short-Term Debt [Line Items]
Share price	$ 0.10

Schedule of stock option (Detai

Schedule of stock option (Details)	6 Months Ended
	Dec. 31, 2022 $ / shares shares
Beginning balance | shares	1,446,400
Granted | shares
Exercised | shares	(260,582)
Cancelled/expired | shares	(189,818)
Ending balance | shares	996,000
Canada, Dollars
Beginning balance | $ / shares	$ 8.30
Granted | $ / shares
Exercised | $ / shares	4.90
Cancelled/expired | $ / shares	5
Ending Balance | $ / shares	$ 9.80

Schedule of information about s

Schedule of information about stock options outstanding (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($) shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of outstanding | shares	996,000
Number exercisable | shares	996,000
Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 1,714
Aggregate intrinsic value | $	$ 1,714
Exercise Price 8.40 [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 Price 8.40 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 168
Aggregate intrinsic value | $	$ 168
Exercise Price 5.40 [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 Price 5.40 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 959
Aggregate intrinsic value | $	$ 959
Exercise Price 7.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry date	Dec. 14, 2023
Number of outstanding | shares	182,500
Number exercisable | shares	182,500
Exercise Price 7.50 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 456
Aggregate intrinsic value | $	$ 456
Exercise Price 7.50 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 Price 7.50 One [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $	$ 131
Aggregate intrinsic value | $	$ 131
Exercise Price 13.60 [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 Price 13.60 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate intrinsic value | $
Aggregate intrinsic value | $
Exercise Price 11.00 [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 Price 11.00 [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)	6 Months Ended
	Dec. 31, 2022 $ / shares shares
Balance, at beginning | shares	1,851,624
Granted | shares
Exercised | shares
Cancelled/expired | shares	(50,000)
Balance, at ending | shares	1,801,624
Canada, Dollars
Balance, at beginning | $ / shares	$ 11.60
Granted | $ / shares
Exercised | $ / shares
Cancelled/expired | $ / shares	8
Balance, at ending | $ / shares	$ 11.70

Schedule of outstanding exercis

Schedule of outstanding exercisable warrants (Details) - $ / shares	Dec. 31, 2022	Jun. 30, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	1,801,624	1,851,624
Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Warrant exercise price (in dollars per share)	$ 11.70	$ 11.60
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 Price 11.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number	504,613
Expiry date	Jun. 30, 2024
Exercise Price 11.00 [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

COMMON SHARES (Details Narrativ

COMMON SHARES (Details Narrative) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2022 USD ($) $ / shares
Unrecognized compensation cost | $	$ 0
Canada, Dollars
Share price | $ / shares	$ 10

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Accrued interest		$ 40
Mark Smith [Member]
Related Party Transaction [Line Items]
Principal amount outstanding	2,000
Accrued interest	$ 102
General Security Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Interest at a rate	10%
Prepayment fee	2.50%

Schedule of exploration expendi

Schedule of exploration expenditures (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2022		Dec. 31, 2021
Exploration expenditure	$ 1,317	[1]	$ 491	$ 2,605	[1]	$ 1,112
Technical Studies and Engineering [Member]
Exploration expenditure	28		84	137		134
Field Management and Other [Member]
Exploration expenditure	207		157	393		281
Exploration and Production Equipment [Member]
Exploration expenditure	1,080		150	2,073		586
Geologists and Field Staff [Member]
Exploration expenditure	$ 2		$ 100	$ 2		$ 111
[1]Amounts are restated. See Note 3 for more information.

The Company incurred lease cost

The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Operating Lease Cost:
Fixed rent expense	$ 23	$ 23	$ 44	$ 43
Variable rent expense	3	2	6	5
Short-term lease cost	3	2	5	9
Sublease income	(12)	(10)	(18)	(15)
Net lease cost – other operating expense	$ 17	$ 17	$ 37	$ 42

The maturities of lease liabili

The maturities of lease liabilities are as follows at December 31, 2022: (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases
Total remaining lease payments	$ 70
Less portion of payments representing interest	(4)
Present value of lease payments – current lease liability	$ 66

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 424	$ 5,280
Investment in equity securities	9	10
Total	433	5,290
Warrant liability	1,305
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	424	5,280
Investment in equity securities	9	10
Total	433	5,290
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
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
Warrant liability	$ 1,305

PROPOSED TRANSACTION (Details N

PROPOSED TRANSACTION (Details Narrative)	6 Months Ended
	Dec. 31, 2022 USD ($)
Business Combination and Asset Acquisition [Abstract]
Net tangible assets	$ 5,000,001
Cash	$ 15,000,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)		6 Months Ended
	Jan. 26, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Aggregate exercise price		$ 0
Yorkville Financings [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 16,000,000
Aggregate value of common shares	$ 65,000,000
Business combination terms	36 months
Yorkville Convertible Debt Financing [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Description of business acqusition	On January 26, 2023, NioCorp entered into a Securities Purchase Agreement (the “Yorkville Convertible Debt Financing Agreement”), by and between NioCorp and Yorkville. Pursuant to the Yorkville Convertible Debt Financing Agreement, Yorkville, and any investor that exercises its contractual right previously granted by NioCorp to participate in the Yorkville Convertible Debt Financing (collectively with Yorkville, the “Investors”), will advance an initial total amount of $9.6 million to NioCorp in consideration of the issuance by NioCorp to the Investors of $10.0 million aggregate principal amount of Convertible Debentures at the time of the Transaction Closing (the “First Debenture Closing”), and an additional total amount of $5.76 million to NioCorp in consideration of the issuance by NioCorp to the Investors of $6.0 million aggregate principal amount of Convertible Debentures on a date to be determined at the election of NioCorp, but which may not be prior to the later to occur of (i) the date of filing of the Convertible Debt Financing Registration Statement (as defined below) and (ii) the date of the Transaction Closing (together with the First Debenture Closing, the “Debenture Closings”)
Unpaid interest	110%
Aggregate exercise price	$ 50,000
Remaining aggregate exercise price	50,000
Cash termination fee	$ 1,600,000
Yorkville Convertible Debt Financing [Member] | Subsequent Event [Member] | Convertible Debentures [Member]
Subsequent Event [Line Items]
Other description	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 million 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.
Yorkville Convertible Debt Financing [Member] | Subsequent Event [Member] | Convertible Debt [Member]
Subsequent Event [Line Items]
Business combination terms	18 months
Interest rate	5%
Yorkville Convertible Debt Financing [Member] | Subsequent Event [Member] | Convertible Debt [Member] | Maximum [Member]
Subsequent Event [Line Items]
Interest rate	15%
Yorkville Equity Facility Financing [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Principal amount	$ 65,000,000
Aggregate value of common shares	650,000
Cash fee	$ 1,500,000
Description of equity facility financing agreement limits the number of common	(a) 500,000 Common Shares and (b) the number of Common Shares equal to 100% of the average daily volume traded of the Common Shares on the Nasdaq during the five trading days prior to an Advance