NioCorp Developments (NB) 10-Q 2 May 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	May 02, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--06-30
Entity File Number	001-41655
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
Entity Address, Address Line Two	Suite 115
Entity Address, City or Town	Centennial
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	(720)
Local Phone Number	334-7066
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		36,483,550
Common Shares, without par value
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	NB
Security Exchange Name	NASDAQ
Warrants, each exercisable for
Title of 12(b) Security	Warrants, each exercisable for
Trading Symbol	NIOBW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Current
Cash and cash equivalents	$ 194	$ 2,341
Prepaid expenses and other	261	1,385
Total current assets	455	3,726
Non-current
Deposits	35	35
Investment in equity securities	7	9
Right-of-use assets	195	236
Land and buildings, net	837	839
Mineral properties	16,085	16,085
Total assets	17,614	20,930
LIABILITIES
Accounts payable and accrued liabilities	5,127	3,491
Convertible debt, current portion	1,707
Warrant liability, at fair value	2,193
Operating lease liability	95	71
Total current liabilities	9,133	3,562
Convertible debt		10,561
Warrant liabilities, at fair value	2,216	4,989
Earnout Shares liability, at fair value	6,667	10,521
Operating lease liability	120	164
Total liabilities	18,136	29,797
Redeemable noncontrolling interest	1,572	2,100
SHAREHOLDERS’ DEFICIT
Common shares, no par value, unlimited shares authorized; 36,252,990 and 31,202,131 shares outstanding, respectively	159,854	140,421
Accumulated deficit	(161,037)	(150,477)
Accumulated other comprehensive loss	(911)	(911)
Total shareholders’ deficit	(2,094)	(10,967)
Total liabilities, redeemable noncontrolling interest, and shareholders’ deficit	$ 17,614	$ 20,930

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized	Unlimited	Unlimited
Common stock, shares outstanding	36,252,990	31,202,131

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Operating expenses
Employee related costs	$ 2,531	$ 1,405	$ 3,181	$ 1,989
Professional fees	633	157	2,772	583
Exploration expenditures	489	1,410	2,417	4,015
Other operating expenses	1,457	26,220	3,100	26,888
Total operating expenses	5,110	29,192	11,470	33,475
Change in fair value of Earnout Shares liability	(955)	(881)	(3,854)	(881)
Change in fair value of warrant liability	(724)	784	(580)	868
Debt extinguishment		300		1,922
Foreign exchange loss (gain)	(27)	83	(10)	192
Interest expense	1,016	142	4,267	362
Loss on equity securities		1	2	2
Other gains	(195)		(195)	(13)
Loss before income taxes	4,225	29,621	11,100	35,927
Income tax benefit		(186)	(101)	(186)
Net loss	4,225	29,435	10,999	35,741
Net loss attributable to redeemable noncontrolling interest	169	92	439	92
Net loss attributable to the Company	4,056	29,343	10,560	35,649
Other comprehensive loss:
Reporting currency translation		(112)		(82)
Total comprehensive loss	4,225	29,323	10,999	35,659
Comprehensive loss attributable to redeemable noncontrolling interest	169	92	439	92
Comprehensive loss attributable to the Company	$ 4,056	$ 29,231	$ 10,560	$ 35,567
Loss per common share, basic and diluted	$ 0.11	$ 1	$ 0.29	$ 1.26
Weighted average common shares outstanding, basic and diluted	35,160,333	28,546,379	33,421,185	28,128,731

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (10,999)	$ (35,741)
Adjustments for:
Initial valuation of  earnout shares liability		13,195
Change in fair value of earnout shares liability	(3,854)	(881)
Initial valuation of warrant liabilities		3,848
Change in fair value of warrant liabilities	(580)	868
Share-based compensation	2,779	1,788
Accretion of convertible debt	4,267	215
Loss on debt extinguishment		1,422
Loss on Yorkville equity facility shares issued	78
Private placement compensation adjustment	102
Fair value of commitment shares issued		650
Foreign exchange loss		200
Other gains	(195)	(13)
Depreciation	2	2
Unrealized loss on equity securities	2	2
Non-cash lease activity	21	(12)
Change in working capital items:
Prepaid expenses and other	1,124	304
Accounts payable and accrued liabilities	1,637	2,688
Net cash used in operating activities	(5,616)	(11,465)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of assets		21
Net cash provided by investing activities		21
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common shares	3,663	11
Share issue costs	(194)	(21)
Convertible debt repayment		(515)
Proceeds from debt issuance, net of cost		14,857
Related party debt draws		1,130
Related party debt		(1,841)
Net cash provided by financing activities	3,469	13,621
Exchange rate effect on cash and cash equivalents		(312)
Change in cash and cash equivalents during period	(2,147)	1,865
Cash and cash equivalents, beginning of period	2,341	5,280
Cash and cash equivalents, end of period	194	7,145
Supplemental cash flow information:
Amounts paid for interest		239
Amounts paid for income taxes
Non-cash investing and financing transactions:
Conversion of debt for common shares	$ 13,121	$ 1,950

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' (Deficit) Equity and Redeemable Noncontrolling Interest (unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total	Redeemable Noncontrolling Interest [Member]
Beginning balance, value at Jun. 30, 2022	$ 129,055	$ (110,397)	$ (993)	$ 17,665
Beginning balance (in shares) at Jun. 30, 2022	27,667,060
Exercise of options	$ 11			11
Exercise of options (in shares)	265,138
Issuance of financing warrants	$ 3,337			3,337
Common shares issued in the GXII transaction
Common Shares issued in the GXII Transaction (in shares)	1,753,821
Redeemable noncontrolling interest	$ (2,325)			(2,325)	2,325
Exchange of Class B shares	$ 650			650
Debt conversions (in shares)	81,213
Share-based compensation	$ 1,788			1,788
Loss for the period		(35,649)		(35,649)	(92)
Debt conversions	$ 1,950			1,950
Debt conversions (in shares)	314,423
Share issuance costs	$ (21)			(21)
Foreign currency translation adjustments			82	82
Ending balance, value at Mar. 31, 2023	$ 134,445	(146,046)	(911)	(12,512)	2,233
Ending balance (in shares) at Mar. 31, 2023	30,081,655
Beginning balance, value at Dec. 31, 2022	$ 130,995	(116,703)	(1,023)	13,269
Beginning balance (in shares) at Dec. 31, 2022	28,242,064
Exercise of options
Exercise of options (in shares)	4,557
Issuance of financing warrants	$ 3,337			3,337
Common shares issued in the GXII transaction
Common Shares issued in the GXII Transaction (in shares)	1,753,821
Redeemable noncontrolling interest	$ (2,325)			(2,325)	2,325
Exchange of Class B shares	$ 650			650
Debt conversions (in shares)	81,213
Share-based compensation	$ 1,788			1,788
Foreign currency translation adjustments			112	112
Loss for the period		(29,343)		(29,343)	(92)
Ending balance, value at Mar. 31, 2023	$ 134,445	(146,046)	(911)	(12,512)	2,233
Ending balance (in shares) at Mar. 31, 2023	30,081,655
Beginning balance, value at Jun. 30, 2023	$ 140,421	(150,477)	(911)	$ (10,967)	2,100
Beginning balance (in shares) at Jun. 30, 2023	31,202,131			31,202,131
Exercise of options
Exercise of options (in shares)	7,800			7,800
Exchange of Class B shares	$ 89			$ 89	(89)
Debt conversions (in shares)	243,692
Share-based compensation	$ 2,779			2,779
Loss for the period		(10,560)		(10,560)	(439)
Yorkville equity facility draws	$ 1,451			1,451
Shares issued under the Yorkville equity facility (in shares)	462,500
Debt conversions	$ 13,121			13,121
Debt conversions (in shares)	3,673,435
Share issuance costs	$ (194)			(194)
Option liability valuations	(206)			(206)
Private placements	$ 2,393			2,393
Private placements (in shares)	663,432
Ending balance, value at Mar. 31, 2024	$ 159,854	(161,037)	(911)	$ (2,094)	1,572
Ending balance (in shares) at Mar. 31, 2024	36,252,990			36,252,990
Beginning balance, value at Dec. 31, 2023	$ 151,810	(156,981)	(911)	$ (6,082)	1,830
Beginning balance (in shares) at Dec. 31, 2023	34,091,844
Exchange of Class B shares	$ 89			89	(89)
Debt conversions (in shares)	243,692
Share-based compensation	$ 2,779			2,779
Loss for the period		(4,056)		(4,056)	(169)
Yorkville equity facility draws	$ 622			622
Shares issued under the Yorkville equity facility (in shares)	242,500
Debt conversions	$ 4,815			4,815
Debt conversions (in shares)	1,674,954
Share issuance costs	$ (55)			(55)
Option liability valuations	(206)			(206)
Ending balance, value at Mar. 31, 2024	$ 159,854	$ (161,037)	$ (911)	$ (2,094)	$ 1,572
Ending balance (in shares) at Mar. 31, 2024	36,252,990			36,252,990

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“we,” “us,” “our,” “NioCorp” or the “Company”) was incorporated on February 27, 1987, under the laws of the Province of British Columbia and currently operates in one In October 2023, NioCorp Technologies Ltd. (“Technologies”), a wholly owned subsidiary of the Company, was incorporated in the United Kingdom (the “UK”). The initial capital contribution in Technologies was £100 for 100 ordinary shares. Technologies was formed to provide the ability to take advantage of various business opportunities in the UK, including research and development of aluminum-scandium alloys. 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 3, 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 PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION a) Basis of Presentation and Consolidation The accompanying 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, 2023. Certain transactions include reference to Canadian dollars (“C$”) where applicable. In the opinion of management, all adjustments considered necessary (including normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at March 31, 2024, 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, 2023. The interim results are not necessarily indicative of results for the full year ending June 30, 2024, or future operating periods. b) Recent Accounting Standards Issued and Not Effective In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, Disclosure Improvements - Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative SEC’s Release No. 33-10532, Disclosure Update and Simplification Initiative In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In March 2024, the SEC issued final rules on the enhancement and standardization of climate-related disclosures. The rules require disclosure of, among other things: material climate-related risks; activities to mitigate or adapt to such risks; governance and management of such risks; and material greenhouse gas emissions from operations owned or controlled (Scope 1) and/or indirect emissions from purchased energy consumed in operations (Scope 2). Additionally, the rules require disclosure in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. As a smaller reporting company, the rules will become effective on a phased-in timeline starting in fiscal years beginning in calendar year 2027, which for us is fiscal 2028. On April 4, 2024, the SEC issued an order staying the rules during the pendency of the various challenges to the rules’ validity. We are in the process of analyzing the impact of the rules on our disclosures. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. 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 carrying value of long-term assets, deferred income tax assets and related valuations, liabilities related to the Earnout Shares, Private Warrants, and Contingent Consent Warrants (each, as defined below), 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 The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 Net loss $ 4,225 $ 29,435 $ 10,999 $ 35,741 Adjust: Net loss attributable to noncontrolling interest (167 ) (56 ) (520 ) (43 ) Net loss available to participating securities 4,058 29,379 10,479 35,698 Net loss attributable to vested shares of ECRC Class B common stock (184 ) (708 ) (825 ) (271 ) Net loss attributed to common shareholders - basic and diluted $ 3,874 $ 28,671 $ 9,654 $ 35,427 Denominator: Weighted average shares outstanding – basic and diluted 35,160,333 28,546,379 33,421,185 28,128,731 Loss per Common Share outstanding – basic and diluted $ 0.11 $ 1.00 $ 0.29 $ 1.26 The following common shares, no par value, of the Company (“Common Shares”) underlying options to purchase Common Shares (“Options”), Common Share purchase warrants (“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 nine-month periods indicated below. Schedule of excluded from the dilutive securities For the Three and Nine Months Ended Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,563,000 1,561,500 Warrants 18,585,105 19,257,515 Convertible debt 714,900 2,723,500 Total potential dilutive securities 21,863,005 23,542,515 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive. (2) Earnout Shares are excluded as the vesting terms were not met as of the end of the reporting period.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	3. GOING CONCERN The Company incurred a loss of $ 10,999 35,741 8,678 161,037 194 In response to these conditions and events, the Company plans to obtain additional financing. As disclosed in Note 11, on April 12, 2024, the Company closed a private placement which resulted in the receipt of net proceeds of $ 6,935 These interim condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities As of March 31, June 30, Accounts payable, trade $ 4,788 $ 1,990 Trade payable accruals 263 1,324 Income taxes payable - 101 Environmental accruals 48 48 Loan origination fees payable to related party 28 28 Total accounts payable and accrued liabilities $ 5,127 $ 3,491

DEBT

DEBT	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT	5. DEBT The unsecured convertible debentures (the “Convertible Debentures”) issued to Yorkville pursuant to the Securities Purchase Agreement, dated January 26, 2023 (as amended, the “Yorkville Convertible Debt Financing Agreement”), between the Company and Yorkville, have a maturity date of September 17, 2024 Changes in the Convertible Debentures are as follows: Amount Opening balance, June 30, 2023 $ 10,561 Accretion expense 4,267 Principal and accrued interest converted (13,121 ) Balance, March 31, 2024 $ 1,707 Add: Unamortized debt issuance costs 43 Remaining principal balance, March 31, 2024 $ 1,750 Based on the Company’s closing Common Share price of $ 2.72 714,900 0.10 27,300

CLASS B COMMON STOCK OF ECRC

CLASS B COMMON STOCK OF ECRC	9 Months Ended
	Mar. 31, 2024
Class B Common Stock Of Ecrc
CLASS B COMMON STOCK OF ECRC	6. CLASS B COMMON STOCK OF ECRC The shares of Class B common stock of Elk Creek Resource Corporation (“ECRC”), an indirect, majority-owned subsidiary of NioCorp formerly known as GX Acquisition Corp. II (“GXII”), include rights under which the holders may exchange such shares into Common Shares, and certain of such shares are subject to certain vesting conditions (the “Earnout Shares”). These Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs: Key Valuation Input March 31, 2024 June 30, 2023 Closing Common Share price $2.72 $5.03 Term (expiry) March 17, 2033 March 17, 2033 Volatility 61.0 33.5 Risk-free rate 4.20 3.83 The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three- and nine-month periods ended March 31, 2024: For the Three Months For the Nine Months Fair value at beginning of period $ 7,622 $ 10,521 Change in fair value (955 ) (3,854 ) Fair value at March 31, 2024 $ 6,667 $ 6,667

COMMON SHARES

COMMON SHARES	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
COMMON SHARES	7. COMMON SHARES a) Issuance On September 1, 2023, the Company closed a non-brokered private placement (the “September 2023 Private Placement”) of units of the Company (the “September 2023 Units”). A total of 250,000 4.00 1,000 4.60 The September 2023 Warrants were classified as an equity instrument and accordingly, the net proceeds of $ 962 254 708 2.0 4.85 71.63 0 On December 22, 2023, the Company closed a non-brokered private placement (the “December 2023 Private Placement”) of 413,432 3.54 274,587 3.08 138,845 3.205 Unit paid by the Insider Investors included $0.125 per December 2023 Warrant underlying each December 2023 Unit purchased by the Insider Investors which allowed the Insider Investors to participate in the December 2023 Private Placement in accordance with the rules of The Nasdaq Stock Market LLC (“Nasdaq”). The Company received aggregate gross proceeds from the December 2023 Private Placement of approximately $ 1,290 92 10 The December 2023 Warrants were classified as an equity instrument and accordingly, the estimated net proceeds of $1,241 were allocated based on the relative fair values of the Common Shares and the December 2023 Warrants on the date of issuance. The amount allocated to the fair value of the December 2023 Warrants was $ 264 977 2.0 4.33 54.8 0 In connection with the closing of the previously disclosed business combination transaction (the “Transaction”) on March 17, 2023 (the “Transaction Closing”), 4,565,808 shares of Class B common stock of ECRC were vested as of the Transaction Closing (the “Vested Shares”) and are exchangeable for Common Shares on a one-for-one basis at any time, and from time to time, until the tenth anniversary of the Transaction Closing. On February 29, 2024, 243,692 Vested Shares were exchanged for an equivalent number of Common Shares. This exchange resulted in a change in the Company’s ownership interest in ECRC and was accounted for as an equity transaction in accordance with ASC 810-10-45-23, with no gain or loss recognized. Accordingly, the carrying amount of the noncontrolling interest was adjusted to reflect the change in the Company’s ownership interest with a corresponding offset booked to equity. The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the nine months ended March 31, 2024: Date Common Shares Gross Funds Market Value of Loss on September 12, 2023 70,000 $ 259 $ 271 $ 12 September 18, 2023 75,000 273 314 41 November 30, 2023 75,000 234 244 10 February 28, 2024 75,000 170 174 4 March 7, 2024 82,500 210 218 8 March 14, 2024 85,000 226 230 4 Loss on transaction represents a non-cash expense equal to the difference between the proceeds received and the fair value of the Common Shares issued based on the Nasdaq closing price per Common Share on the issuance date and is recorded in other operating expenses in the consolidated statement of operations and comprehensive loss. b) Stock Options Schedule of stock option Number of Weighted Average Balance, June 30, 2023 1,541,500 $ 7.19 Granted 1,625,000 2.99 Exercised (7,800 ) 3.95 Expired/forfeited (595,700 ) 5.45 Balance, March 31, 2024 2,563,000 $ 4.88 The following table summarizes information about Options outstanding at March 31, 2024: Exercise Price Expiry Date Number Aggregate Number Aggregate C$ 13.60 December 17, 2024 350,000 - 350,000 - C$ 11.00 May 30, 2025 50,000 - 50,000 - $ 6.95 March 27, 2026 538,000 - 538,000 - $ 2.99 February 15, 2029 1,625,000 - 1,625,000 - 2,563,000 $ - 2,563,000 $ - The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing share price of $2.72 as of March 31, 2024, which would have been received by the option holders had all option holders exercised their Options as of that date. On February 15, 2024, the Company granted 1,625,000 Options at a fair value price of $2.99 per Option, based on a Black-Scholes model with an average risk-free rate of 4.25%, average share price volatility of 63.2%, and a five-year expected option life. Prior to January 1, 2024, the Company concluded that under ASU 718, Compensation – Stock Compensation (Topic 718) On March 28, 2024, the Company’s Board of Directors (the “Board”) approved a modification to Options previously issued on March 27, 2023, with dual strike prices of $6.95 and C$9.52, under which the option to exercise in C$ was removed. No other terms or conditions were amended by the Board. Based on this amendment, the Company re-classified these Options to equity on March 28, 2024, based on their fair value on that date. c) Warrants Schedule of warrant transactions Number of Weighted Balance, June 30, 2023 18,816,304 $ 10.98 Granted 663,432 3.94 Exercised - - Expired (894,631 ) 8.94 Balance, March 31, 2024 18,585,105 $ 10.82 At March 31, 2024, the Company had outstanding exercisable Warrants, as follows: Number Exercise Price Expiry Date 504,611 C$ 11.00 June 30, 2024 894,636 $ 8.94 (1) 855,800 C$ 9.70 February 19, 2025 250,000 $ 4.60 September 1, 2025 413,432 $ 3.54 December 22, 2025 15,666,626 $ 11.50 March 17, 2028 18,585,105 (1) These Warrants expire in equal monthly tranches from April 17, 2024 through September 17, 2024 Private Warrants In connection with the Transaction Closing, the Company assumed GXII’s obligations under the agreement governing the GXII Warrants, as amended by an assignment, assumption and amendment agreement (the “NioCorp Assumed Warrant Agreement”), and issued an aggregate of 15,666,626 9,999,959 5,666,667 Each Private Warrant entitles the holder to the right to purchase 1.11829212 Common Shares at an exercise price of $11.50 per 1.11829212 Common Shares (subject to adjustments for stock splits, stock dividends, reorganizations, recapitalizations and the like). The Private Warrants: (i) will be exercisable either for cash or on a cashless basis at the holder’s option and (ii) will not be redeemable by the Company, in either case as long as the Private Warrants are held by the Sponsor, its members or any of their permitted transferees (as prescribed in the NioCorp Assumed Warrant Agreement). In accordance with the NioCorp Assumed Warrant Agreement, any Private Warrants that are held by someone other than the Sponsor, its members or any of their permitted transferees are treated as Public Warrants. The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy as inputs into our pricing model are based on observable data points. The following observable data points were used in calculating the fair value of the Private Warrants using a Black Scholes pricing model: Key Valuation Input March 31, June 30, Share price on valuation date $ 2.72 $ 5.03 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 57.2 % 33.5 % Risk free rate 4.31 % 4.18 % Dividend yield 0 % 0 % Expected warrant life in years 3.97 4.73 The change in the Private Warrants liability is presented below: For the Three Months For the Nine Months Fair value at beginning of period $ 3,040 $ 3,279 Change in fair value (824 ) (1,063 ) Fair value at March 31, 2024 $ 2,216 $ 2,216 Contingent Consent Warrants As consideration for entering into the previously publicly disclosed Waiver and Consent Agreement, dated September 25, 2022 (the “Lind Consent”), between the Company and Lind Global Asset Management III, LLC (“Lind”), Lind received, amongst other things, the right to receive additional Warrants (the “Contingent Consent Warrants”) if on September 17, 2024, the closing trading price of the Common Shares on the TSX or such other stock exchange on which such shares may then be listed, is less than C$10.00, subject to adjustments. The number of Contingent Consent Warrants to be issued, if any, is based on the Canadian dollar equivalent (based on the then current Canadian to U.S. dollar exchange rate as reported by Bloomberg, L.P.) of $5,000 divided by the five-day volume weighted average price of the Common Shares on the date of issuance. 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 the balance sheet date and the probability of issuance calculated by the model Key Valuation Input March 31, June 30, Share price on valuation date $ 2.72 $ 5.03 Volatility 64.0 % 63.0 % Risk free rate 4.26 % 4.11 % Probability of issuance 99.4 % 80.8 % The change in the fair value of the Contingent Consent Warrants is presented below: For the Three Months For the Nine Months Fair value at beginning of period $ 2,093 $ 1,710 Change in fair value 100 483 Fair value at March 31, 2024 $ 2,193 $ 2,193

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	9 Months Ended
	Mar. 31, 2024
Exploration Expenditures
EXPLORATION EXPENDITURES	8. EXPLORATION EXPENDITURES Schedule of exploration expenditures For the Three Months For the Nine Months 2024 2023 2024 2023 Technical studies and engineering $ 53 $ 85 $ 350 $ 222 Field management and other 136 195 418 588 Metallurgical development 300 1,130 1,630 3,203 Geologists and field staff - - 19 2 Total $ 489 $ 1,410 $ 2,417 $ 4,015

LEASES

LEASES	9 Months Ended
	Mar. 31, 2024
Leases
LEASES	9. LEASES The Company incurred lease costs as follows: For the Three Months For the Nine Months 2024 2023 2024 2023 Operating Lease Cost: Fixed rent expense $ 23 $ 15 $ 68 $ 60 Variable rent expense 3 3 10 9 Short-term lease cost 2 3 7 7 Sublease income (7 ) (6 ) (23 ) (24 ) Net lease cost – other operating expense $ 21 $ 15 $ 62 $ 52 The maturities of lease liabilities are as follows at March 31, 2024: Future Lease Total remaining lease payments $ 268 Less portion of payments representing interest (53 ) Present value of lease payments 215 Less current portion of lease payments 95 Non-current lease liability $ 120

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	10. FAIR VALUE MEASUREMENTS The following tables present information about the assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2024, and June 30, 2023, respectively, and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical instruments. Fair values determined by Level 2 inputs utilize data points that are observable, such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the financial instrument and include situations where there is little, if any, market activity for the instrument. Schedule of fair values determined by level 3 inputs are unobservable data As of March 31, 2024 Note Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 194 $ 194 $ - $ - Investment in equity securities 7 7 - - Total $ 201 $ 201 $ - $ - Liabilities: Earnout Shares liability 6 $ 6,667 $ - $ - $ 6,667 Warrant liabilities 7c 4,409 - 2,216 2,193 Total $ 11,076 $ - $ 2,216 $ 8,860 As of June 30, 2023 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 2,341 $ 2,341 $ - $ - Investment in equity securities 9 9 - - Total $ 2,350 $ 2,350 $ - $ - Liabilities: Earnout Shares liability $ 10,521 $ - $ - $ 10,521 Warrant liabilities 4,989 - 3,279 1,710 Total $ 15,510 $ - $ 3,279 $ 12,231 The Convertible Debentures

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	11. SUBSEQUENT EVENT On April 12, 2024, the Company issued and sold to Yorkville and Lind Global Fund II LP (together with Yorkville, the “April 2024 Purchasers”), in a private placement (the “April 2024 Private Placement”), $8,000 aggregate principal amount of unsecured notes (the “April 2024 Notes”), pursuant to a securities purchase agreement, dated April 11, 2024 (the “April 2024 Purchase Agreement”), between the Company and each of the April 2024 Purchasers. Pursuant to the terms of the April 2024 Notes, subject to certain exceptions, on the first day of each calendar month, beginning on June 1, 2024 (excluding August 2024) (the “Payment Date”), the Company will be required to repay a portion of the outstanding balance of all of the April 2024 Notes, on a pro-rata basis, in an amount equal to the sum of (i) $1,400 of principal (or the outstanding principal if less than such amount) in the aggregate among all of the outstanding Notes, plus (ii) 8.0% of the principal amount being paid (the “Payment Premium”), and (iii) accrued and unpaid interest, if any, as of the Payment Date. The Company is required to make payments on each Payment Date until the entire outstanding principal is repaid but will not have an obligation to make a payment on a Payment Date if certain equity conditions (the “Equity Conditions”) are satisfied. The Company also issued to the April 2024 Purchasers, in proportion to the aggregate principal amount of April 2024 Notes issued to each April 2024 Purchaser, Warrants (the “April 2024 Warrants”) to purchase up to 615,385 25 3.25 Pursuant to the April 2024 Purchase Agreement, the April 2024 Purchasers advanced an aggregate of $ 6,935 8,000 Proceeds from the April 2024 Private Placement will be used for general working capital purposes, including for accounts payable, other payables and operating expenses, and to satisfy the fees and expenses incurred in connection with the Private Placement. Subject to certain limitations contained within the April 2024 Notes, holders of the April 2024 Notes will be entitled to convert the principal amount of, accrued and unpaid interest, if any, and any Payment Premium that has become due and payable on each April 2024 Note, from time to time over their term, into a number of Common Shares equal to the quotient of the amount being converted divided by a fixed conversion price of $ 2.75 3,141,817 As noted above, the Company is required to make payments on each Payment Date until the entire outstanding principal is repaid, but will not have an obligation to make a payment on a Payment Date if the Equity Conditions are satisfied. The Equity Conditions means (i) on each of the five consecutive trading days prior a Payment Date (the “Measuring Period”) the Underlying Shares Registration Statement (as defined below) is effective and available for the resale by the Purchasers of all Underlying Shares, (ii) the Company has no knowledge of any fact that would cause the Underlying Shares Registration Statement not to be effective and available for the resale of the Underlying Shares, (iii) on each day during the Measuring Period, the Common Shares are designated for quotation on Nasdaq, or on such other market or exchange on which the Common Shares are then listed or traded to the extent such other market or exchange is the principal U.S. trading market for the Common Shares (the “Principal U.S. Market”), and have not been suspended from trading nor have delisting or suspension of trading been threatened or pending, (iv) during the Measuring Period, an event of default has not occurred, (v) on each trading day during the Measuring Period, the daily U.S. dollar volume-weighted average price (“VWAP”) for a Common Share on the Principal U.S. Market as reported by Bloomberg Financial Markets is greater than 120% of the Conversion Price, (vi) on each trading day during the Measuring Period the average daily volume traded exceeded $500, and (vii) there is no limitation on conversion under the terms of Notes. The April 2024 Notes are the unsecured obligations of the Company and will mature on December 31, 2024. The April 2024 Notes will incur a simple interest rate obligation of 0.0% per annum (which will increase to 18.0% per annum upon the occurrence of an event of default). The outstanding principal amount of, accrued and unpaid interest, if any, on, and the Payment Premium, if any, on the April 2024 Notes must be paid by NioCorp in cash when the same becomes due and payable under the terms of the April 2024 Notes at their stated maturity, upon their redemption or otherwise. The April 2024 Notes may also be redeemed at the Company’s option at any time and from time to time over their term at a redemption price equal to the principal amount being redeemed, plus the Payment Premium, plus accrued and unpaid interest, if any, as of the redemption date. The Company and the Purchasers also entered into a registration rights agreement (the “April 2024 Registration Rights Agreement”) pursuant to which the Company has agreed to file with the SEC a registration statement (the “April 2024 Underlying Shares Registration Statement”) registering the resale by the Purchasers of the April 2024 Underlying Shares under the Securities Act of 1933 (the “Securities Act”), as soon as practicable but no later than May 15, 2024, and to use its reasonable best efforts to have the April 2024 Underlying Shares Registration Statement declared effective as soon as practicable after the filing thereof, but in no event later than the 60th calendar day following the filing date thereof. The Company further agreed to use its reasonable best efforts to cause the April 2024 Underlying Shares Registration Statement to remain continuously effective for a period that will terminate upon the first date on which all of the April 2024 Underlying Shares 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 April 2024 Purchasers. The Company also granted to the Purchasers certain demand rights for underwritten shelf takedowns and piggyback registration rights with respect to the April 2024 Underlying Shares.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	a) Basis of Presentation and Consolidation The accompanying 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, 2023. Certain transactions include reference to Canadian dollars (“C$”) where applicable. In the opinion of management, all adjustments considered necessary (including normal recurring adjustments) for a fair statement of the financial position, results of operations, and cash flows at March 31, 2024, 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, 2023. The interim results are not necessarily indicative of results for the full year ending June 30, 2024, or future operating periods.
Recent Accounting Standards	b) Recent Accounting Standards Issued and Not Effective In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, Disclosure Improvements - Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative SEC’s Release No. 33-10532, Disclosure Update and Simplification Initiative In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In March 2024, the SEC issued final rules on the enhancement and standardization of climate-related disclosures. The rules require disclosure of, among other things: material climate-related risks; activities to mitigate or adapt to such risks; governance and management of such risks; and material greenhouse gas emissions from operations owned or controlled (Scope 1) and/or indirect emissions from purchased energy consumed in operations (Scope 2). Additionally, the rules require disclosure in the notes to the financial statements of the effects of severe weather events and other natural conditions, subject to certain materiality thresholds. As a smaller reporting company, the rules will become effective on a phased-in timeline starting in fiscal years beginning in calendar year 2027, which for us is fiscal 2028. On April 4, 2024, the SEC issued an order staying the rules during the pendency of the various challenges to the rules’ validity. We are in the process of analyzing the impact of the rules on our disclosures. From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption.
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 carrying value of long-term assets, deferred income tax assets and related valuations, liabilities related to the Earnout Shares, Private Warrants, and Contingent Consent Warrants (each, as defined below), 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 The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 Net loss $ 4,225 $ 29,435 $ 10,999 $ 35,741 Adjust: Net loss attributable to noncontrolling interest (167 ) (56 ) (520 ) (43 ) Net loss available to participating securities 4,058 29,379 10,479 35,698 Net loss attributable to vested shares of ECRC Class B common stock (184 ) (708 ) (825 ) (271 ) Net loss attributed to common shareholders - basic and diluted $ 3,874 $ 28,671 $ 9,654 $ 35,427 Denominator: Weighted average shares outstanding – basic and diluted 35,160,333 28,546,379 33,421,185 28,128,731 Loss per Common Share outstanding – basic and diluted $ 0.11 $ 1.00 $ 0.29 $ 1.26 The following common shares, no par value, of the Company (“Common Shares”) underlying options to purchase Common Shares (“Options”), Common Share purchase warrants (“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 nine-month periods indicated below. Schedule of excluded from the dilutive securities For the Three and Nine Months Ended Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,563,000 1,561,500 Warrants 18,585,105 19,257,515 Convertible debt 714,900 2,723,500 Total potential dilutive securities 21,863,005 23,542,515 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive. (2) Earnout Shares are excluded as the vesting terms were not met as of the end of the reporting period.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders:	The Company utilizes the weighted average method to determine the impact of changes in a participating security on the calculation of loss per share. The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders: For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 Net loss $ 4,225 $ 29,435 $ 10,999 $ 35,741 Adjust: Net loss attributable to noncontrolling interest (167 ) (56 ) (520 ) (43 ) Net loss available to participating securities 4,058 29,379 10,479 35,698 Net loss attributable to vested shares of ECRC Class B common stock (184 ) (708 ) (825 ) (271 ) Net loss attributed to common shareholders - basic and diluted $ 3,874 $ 28,671 $ 9,654 $ 35,427 Denominator: Weighted average shares outstanding – basic and diluted 35,160,333 28,546,379 33,421,185 28,128,731 Loss per Common Share outstanding – basic and diluted $ 0.11 $ 1.00 $ 0.29 $ 1.26
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities For the Three and Nine Months Ended Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,563,000 1,561,500 Warrants 18,585,105 19,257,515 Convertible debt 714,900 2,723,500 Total potential dilutive securities 21,863,005 23,542,515 (1) The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive. (2) Earnout Shares are excluded as the vesting terms were not met as of the end of the reporting period.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities	Schedule of account payable and accrued liabilities As of March 31, June 30, Accounts payable, trade $ 4,788 $ 1,990 Trade payable accruals 263 1,324 Income taxes payable - 101 Environmental accruals 48 48 Loan origination fees payable to related party 28 28 Total accounts payable and accrued liabilities $ 5,127 $ 3,491

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Changes in the Convertible Debentures are as follows:	Changes in the Convertible Debentures are as follows: Amount Opening balance, June 30, 2023 $ 10,561 Accretion expense 4,267 Principal and accrued interest converted (13,121 ) Balance, March 31, 2024 $ 1,707 Add: Unamortized debt issuance costs 43 Remaining principal balance, March 31, 2024 $ 1,750

CLASS B COMMON STOCK OF ECRC (T

CLASS B COMMON STOCK OF ECRC (Tables)	9 Months Ended
	Mar. 31, 2024
Class B Common Stock Of Ecrc
These Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs:	The shares of Class B common stock of Elk Creek Resource Corporation (“ECRC”), an indirect, majority-owned subsidiary of NioCorp formerly known as GX Acquisition Corp. II (“GXII”), include rights under which the holders may exchange such shares into Common Shares, and certain of such shares are subject to certain vesting conditions (the “Earnout Shares”). These Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs: Key Valuation Input March 31, 2024 June 30, 2023 Closing Common Share price $2.72 $5.03 Term (expiry) March 17, 2033 March 17, 2033 Volatility 61.0 33.5 Risk-free rate 4.20 3.83
The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three- and nine-month periods ended March 31, 2024:	The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three- and nine-month periods ended March 31, 2024: For the Three Months For the Nine Months Fair value at beginning of period $ 7,622 $ 10,521 Change in fair value (955 ) (3,854 ) Fair value at March 31, 2024 $ 6,667 $ 6,667

COMMON SHARES (Tables)

COMMON SHARES (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the nine months ended March 31, 2024:	The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the nine months ended March 31, 2024: Date Common Shares Gross Funds Market Value of Loss on September 12, 2023 70,000 $ 259 $ 271 $ 12 September 18, 2023 75,000 273 314 41 November 30, 2023 75,000 234 244 10 February 28, 2024 75,000 170 174 4 March 7, 2024 82,500 210 218 8 March 14, 2024 85,000 226 230 4
Schedule of stock option	Schedule of stock option Number of Weighted Average Balance, June 30, 2023 1,541,500 $ 7.19 Granted 1,625,000 2.99 Exercised (7,800 ) 3.95 Expired/forfeited (595,700 ) 5.45 Balance, March 31, 2024 2,563,000 $ 4.88
The following table summarizes information about Options outstanding at March 31, 2024:	The following table summarizes information about Options outstanding at March 31, 2024: Exercise Price Expiry Date Number Aggregate Number Aggregate C$ 13.60 December 17, 2024 350,000 - 350,000 - C$ 11.00 May 30, 2025 50,000 - 50,000 - $ 6.95 March 27, 2026 538,000 - 538,000 - $ 2.99 February 15, 2029 1,625,000 - 1,625,000 - 2,563,000 $ - 2,563,000 $ -
Schedule of warrant transactions	Schedule of warrant transactions Number of Weighted Balance, June 30, 2023 18,816,304 $ 10.98 Granted 663,432 3.94 Exercised - - Expired (894,631 ) 8.94 Balance, March 31, 2024 18,585,105 $ 10.82
At March 31, 2024, the Company had outstanding exercisable Warrants, as follows:	At March 31, 2024, the Company had outstanding exercisable Warrants, as follows: Number Exercise Price Expiry Date 504,611 C$ 11.00 June 30, 2024 894,636 $ 8.94 (1) 855,800 C$ 9.70 February 19, 2025 250,000 $ 4.60 September 1, 2025 413,432 $ 3.54 December 22, 2025 15,666,626 $ 11.50 March 17, 2028 18,585,105 (1) These Warrants expire in equal monthly tranches from April 17, 2024 through September 17, 2024
The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy as inputs into our pricing model are based on observable data points. The following observable data points were used in calculating the fair value of the Private Warrants using a Black Scholes pricing model:	The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy as inputs into our pricing model are based on observable data points. The following observable data points were used in calculating the fair value of the Private Warrants using a Black Scholes pricing model: Key Valuation Input March 31, June 30, Share price on valuation date $ 2.72 $ 5.03 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 57.2 % 33.5 % Risk free rate 4.31 % 4.18 % Dividend yield 0 % 0 % Expected warrant life in years 3.97 4.73
The change in the Private Warrants liability is presented below:	The change in the Private Warrants liability is presented below: For the Three Months For the Nine Months Fair value at beginning of period $ 3,040 $ 3,279 Change in fair value (824 ) (1,063 ) Fair value at March 31, 2024 $ 2,216 $ 2,216
The following table discloses the primary inputs into the Monte Carlo model at the balance sheet date and the probability of issuance calculated by the model	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 the balance sheet date and the probability of issuance calculated by the model Key Valuation Input March 31, June 30, Share price on valuation date $ 2.72 $ 5.03 Volatility 64.0 % 63.0 % Risk free rate 4.26 % 4.11 % Probability of issuance 99.4 % 80.8 %
The change in the fair value of the Contingent Consent Warrants is presented below:	The change in the fair value of the Contingent Consent Warrants is presented below: For the Three Months For the Nine Months Fair value at beginning of period $ 2,093 $ 1,710 Change in fair value 100 483 Fair value at March 31, 2024 $ 2,193 $ 2,193

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	9 Months Ended
	Mar. 31, 2024
Exploration Expenditures
Schedule of exploration expenditures	Schedule of exploration expenditures For the Three Months For the Nine Months 2024 2023 2024 2023 Technical studies and engineering $ 53 $ 85 $ 350 $ 222 Field management and other 136 195 418 588 Metallurgical development 300 1,130 1,630 3,203 Geologists and field staff - - 19 2 Total $ 489 $ 1,410 $ 2,417 $ 4,015

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Mar. 31, 2024
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the Three Months For the Nine Months 2024 2023 2024 2023 Operating Lease Cost: Fixed rent expense $ 23 $ 15 $ 68 $ 60 Variable rent expense 3 3 10 9 Short-term lease cost 2 3 7 7 Sublease income (7 ) (6 ) (23 ) (24 ) Net lease cost – other operating expense $ 21 $ 15 $ 62 $ 52
The maturities of lease liabilities are as follows at March 31, 2024:	The maturities of lease liabilities are as follows at March 31, 2024: Future Lease Total remaining lease payments $ 268 Less portion of payments representing interest (53 ) Present value of lease payments 215 Less current portion of lease payments 95 Non-current lease liability $ 120

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of fair values determined by level 3 inputs are unobservable data	Schedule of fair values determined by level 3 inputs are unobservable data As of March 31, 2024 Note Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 194 $ 194 $ - $ - Investment in equity securities 7 7 - - Total $ 201 $ 201 $ - $ - Liabilities: Earnout Shares liability 6 $ 6,667 $ - $ - $ 6,667 Warrant liabilities 7c 4,409 - 2,216 2,193 Total $ 11,076 $ - $ 2,216 $ 8,860 As of June 30, 2023 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 2,341 $ 2,341 $ - $ - Investment in equity securities 9 9 - - Total $ 2,350 $ 2,350 $ - $ - Liabilities: Earnout Shares liability $ 10,521 $ - $ - $ 10,521 Warrant liabilities 4,989 - 3,279 1,710 Total $ 15,510 $ - $ 3,279 $ 12,231

The following table sets forth

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders: (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 4,225	$ 29,435	$ 10,999	$ 35,741
Adjust: net loss attributable to noncontrolling interest	(169)	(92)	(439)	(92)
Net loss available to participating securities	4,058	29,379	10,479	35,698
Net loss attributable to vested shares of ECRC Class B common stock	(184)	(708)	(825)	(271)
Net loss attributed to common shareholders - basic and diluted	$ 3,874	$ 28,671	$ 9,654	$ 35,427
Weighted average shares outstanding basic and diluted	35,160,333	28,546,379	33,421,185	28,128,731
Loss per common share outstanding basic and diluted	$ 0.11	$ 1	$ 0.29	$ 1.26

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options	[1],[2]	2,563,000	1,561,500
Warrants	[1],[2]	18,585,105	19,257,515
Convertible debt	[1],[2]	714,900	2,723,500
Total potentially dilutive securities	[1],[2]	$ 21,863,005	$ 23,542,515
[1]Earnout Shares are excluded as the vesting terms were not met as of the end of the reporting period.[2]The number of shares is based on the maximum number of shares issuable on exercise or conversion of the related securities as of the period end. Such amounts have not been adjusted for the treasury stock method or weighted average outstanding calculations as required if the securities were dilutive.

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	9 Months Ended
	Mar. 31, 2024 N
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Apr. 12, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss		$ 4,225,000	$ 29,435,000	$ 10,999,000	$ 35,741,000
Capital deficit		8,678,000		8,678,000
Accumulated deficit		161,037,000		161,037,000		$ 150,477,000
Cash		$ 194,000		$ 194,000		$ 2,341,000
Net proceeds	$ 6,935

Schedule of account payable and

Schedule of account payable and accrued liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Payables and Accruals [Abstract]
Accounts payable, trade	$ 4,788	$ 1,990
Trade payable accruals	263	1,324
Income taxes payable		101
Environmental accruals	48	48
Loan origination fees payable to related party	28	28
Total accounts payable and accrued liabilities	$ 5,127	$ 3,491

Changes in the Convertible Debe

Changes in the Convertible Debentures are as follows: (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Opening balance, June 30, 2023	$ 10,561
Accretion expense	4,267
Principal and accrued interest converted	(13,121)
Balance, December 31, 2023	1,707
Add: uamortized debt issuance costs	43
Remaining principal balance, December 31, 2023	$ 1,750

DEBT (Details Narrative)

DEBT (Details Narrative) - $ / shares	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Short-Term Debt [Line Items]
Common share price, per share	$ 10.82	$ 10.98
Yorkville Convertible Debt Financing Agreement [Member]
Short-Term Debt [Line Items]
Share price	$ 0.10
Shares issued	27,300
Yorkville Convertible Debt Financing Agreement [Member]
Short-Term Debt [Line Items]
Maturity date	Sep. 17, 2024
Common share price, per share	$ 2.72
Yorkville Convertible Debt Financing Agreement [Member] | Convertible Security [Member]
Short-Term Debt [Line Items]
Number of shares issued upon debt conversion	714,900

These Earnout Shares were value

These Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs: (Details) - Measurement Input, Exercise Price [Member] - Valuation Technique, Option Pricing Model [Member] - Earnout [Member] - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price	$ 2.72	$ 5.03
Term (expiry)	Mar. 17, 2033	Mar. 17, 2033
Implied volatility of public warrants	61%	33.50%
Risk-free rate	4.20%	3.83%

The following table sets fort_2

The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three- and nine-month periods ended March 31, 2024: (Details) - Earnout [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at beginning	$ 7,622	$ 10,521
Change in fair value	(955)	(3,854)
Fair value at ending	$ 6,667	$ 6,667

The Company issued the followin

The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the nine months ended March 31, 2024: (Details) - USD ($) $ in Thousands	Mar. 14, 2024	Mar. 07, 2024	Feb. 28, 2024	Nov. 30, 2023	Sep. 18, 2023	Sep. 12, 2023
Equity [Abstract]
Common shares issued	85,000	82,500	75,000	75,000	75,000	70,000
Gross funds received	$ 226	$ 210	$ 170	$ 234	$ 273	$ 259
Fair value of common shares issued	230	218	174	244	314	271
Loss on transaction	$ 4	$ 8	$ 4	$ 10	$ 41	$ 12

Schedule of stock option (Detai

Schedule of stock option (Details)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Equity [Abstract]
Beginning balance | shares	1,541,500
Beginning balance | $ / shares	$ 7.19
Granted, in shares | shares	1,625,000
Granted, per share | $ / shares	$ 2.99
Cancelled/expired, in shares | shares	(7,800)
Cancelled/expired, per share | $ / shares	$ 3.95
Cancelled/expired, in shares | shares	(595,700)
Cancelled/expired, per share | $ / shares	$ 5.45
Ending balance | shares	2,563,000
Ending balance | $ / shares	$ 4.88

The following table summarizes

The following table summarizes information about Options outstanding at March 31, 2024: (Details)	9 Months Ended
	Mar. 31, 2024 USD ($) shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding | shares	2,563,000
Number Exercisable | shares	2,563,000
Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $
Aggregate Intrinsic Value | $
Exercise Price 13.60 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry Date	Dec. 17, 2024
Number Outstanding | shares	350,000
Number Exercisable | shares	350,000
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 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 | $
Exercise Price 9.52 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Expiry Date	Mar. 27, 2026
Exercise Price 6. 95 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding | shares	538,000
Number Exercisable | shares	538,000
Exercise Price 6. 95 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $
Aggregate Intrinsic Value | $
Exercise Price 2. 99 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding | shares	1,625,000
Number Exercisable | shares	1,625,000
Exercise Price 2. 99 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Aggregate Intrinsic Value | $
Aggregate Intrinsic Value | $

Schedule of warrant transaction

Schedule of warrant transactions (Details)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Equity [Abstract]
Beginning balance | shares	18,816,304
Beginning balance | $ / shares	$ 10.98
Granted | shares	663,432
Granted | $ / shares	$ 3.94
Exercised | shares
Exercised | $ / shares
Cancelled | shares	(894,631)
Cancelled | $ / shares	$ 8.94
Ending balance | shares	18,585,105
Ending balance | $ / shares	$ 10.82

At March 31, 2024, the Company

At March 31, 2024, the Company had outstanding exercisable Warrants, as follows: (Details)	Mar. 31, 2024 $ / shares shares	Mar. 31, 2024 $ / shares shares	Jun. 30, 2023 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	18,585,105	18,585,105	18,816,304
Warrant exercise price (in dollars per share) | $ / shares	$ 10.82		$ 10.98
Exercise Price 11.00 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	504,611	504,611
Warrant exercise price (in dollars per share) | $ / shares		$ 11
Expiry date	Jun. 30, 2024	Jun. 30, 2024
Exercise Price 8.94 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	894,636	894,636
Warrant exercise price (in dollars per share) | $ / shares	$ 8.94
Exercise Price 9.70 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	855,800	855,800
Warrant exercise price (in dollars per share) | $ / shares		$ 9.70
Expiry date	Feb. 19, 2025	Feb. 19, 2025
Exercise Price 4.60 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	250,000	250,000
Warrant exercise price (in dollars per share) | $ / shares	$ 4.60
Expiry date	Sep. 01, 2025	Sep. 01, 2025
Exercise Price 3.54 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	413,432	413,432
Warrant exercise price (in dollars per share) | $ / shares	$ 3.54
Expiry date	Dec. 22, 2025	Dec. 22, 2025
Exercise Price 11.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	15,666,626	15,666,626
Warrant exercise price (in dollars per share) | $ / shares	$ 11.50
Expiry date	Mar. 17, 2028	Mar. 17, 2028

The Company classifies Private

The Company classifies Private Warrants as Level 2 instruments under the fair value hierarchy as inputs into our pricing model are based on observable data points. The following observable data points were used in calculating the fair value of the Private (Details) - Fair Value, Inputs, Level 2 [Member] - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Platform Operator, Crypto-Asset [Line Items]
Stock price on valuation date	$ 2.72	$ 5.03
Strike price	$ 11.50	$ 11.50
Implied volatility of Public Warrants	57.20%	33.50%
Risk free rate	4.31%	4.18%
Dividend yield	0%	0%
Expected warrant life in years	4 years 2 months 19 days	4 years 8 months 23 days

The change in the Private Warra

The change in the Private Warrants liability is presented below: (Details) - Note Warrant [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Subsidiary, Sale of Stock [Line Items]
Fair value at begining	$ 3,040	$ 3,279
Change in valuation	(824)	(1,063)
Fair value at ending	$ 2,216	$ 2,216

The following table discloses t

The following table discloses the primary inputs into the Monte Carlo model at the balance sheet date and the probability of issuance calculated by the model (Details) - Fair Value, Inputs, Level 3 [Member] - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Platform Operator, Crypto-Asset [Line Items]
Share price on valuation date	$ 2.72	$ 5.03
Volatility	64%	63%
Risk free rate	4.26%	4.11%
Probability of issuance	99.40%	80.80%

The change in the fair value of

The change in the fair value of the Contingent Consent Warrants is presented below: (Details) - Contingent Consent Warrant [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Subsidiary, Sale of Stock [Line Items]
Fair value at begining	$ 2,093	$ 1,710
Change in valuation	100	483
Fair value at ending	$ 2,193	$ 2,193

COMMON SHARES (Details Narrativ

COMMON SHARES (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 02, 2023	Sep. 30, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Jun. 30, 2023
Subsidiary, Sale of Stock [Line Items]
Proceeds from equity		$ 962
Warrants traded prior to the closing			18,585,105		18,585,105			18,816,304
Contingent consideration description					As consideration for entering into the previously publicly disclosed Waiver and Consent Agreement, dated September 25, 2022 (the “Lind Consent”), between the Company and Lind Global Asset Management III, LLC (“Lind”), Lind received, amongst other things, the right to receive additional Warrants (the “Contingent Consent Warrants”) if on September 17, 2024, the closing trading price of the Common Shares on the TSX or such other stock exchange on which such shares may then be listed, is less than C$10.00, subject to adjustments. The number of Contingent Consent Warrants to be issued, if any, is based on the Canadian dollar equivalent (based on the then current Canadian to U.S. dollar exchange rate as reported by Bloomberg, L.P.) of $5,000 divided by the five-day volume weighted average price of the Common Shares on the date of issuance.
GXII Public Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants traded prior to the closing					9,999,959
GXII Private Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants traded prior to the closing					5,666,667
Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from equity		$ 254			$ 264
Expected life		2 years			2 years
Risk-free rate		4.85%			4.33%
Expected volatility		71.63%			54.80%
Expected dividend rate		0%			0%
Warrants traded prior to the closing			15,666,626		15,666,626
Description of warrants					Each Private Warrant entitles the holder to the right to purchase 1.11829212 Common Shares at an exercise price of $11.50 per 1.11829212 Common Shares (subject to adjustments for stock splits, stock dividends, reorganizations, recapitalizations and the like).
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from equity		$ 708			$ 977
Units issue and sold			243,692	81,213	243,692	81,213
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Other operating expenses					$ 92
Employee related costs					$ 10
Private Placement [Member] | Canada, Dollars
Subsidiary, Sale of Stock [Line Items]
Shares issue	250,000				413,432
Price per unit	$ 4
Gross proceeds	$ 1,000				$ 1,290
Shares price	$ 4.60						$ 3.54
Private Placement [Member] | Canada, Dollars | Director [Member]
Subsidiary, Sale of Stock [Line Items]
Shares price							3.205
Units issue and sold					138,845
Private Placement [Member] | Canada, Dollars | Investor [Member]
Subsidiary, Sale of Stock [Line Items]
Shares price							$ 3.08
Units issue and sold					274,587

Schedule of exploration expendi

Schedule of exploration expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Exploration expenditures	$ 489	$ 1,410	$ 2,417	$ 4,015
Technical Studies and Engineering [Member]
Exploration expenditures	53	85	350	222
Field Management and Other [Member]
Exploration expenditures	136	195	418	588
Metallurgical Development [Member]
Exploration expenditures	300	1,130	1,630	3,203
Geologists and Field Staff [Member]
Exploration expenditures			$ 19	$ 2

The Company incurred lease cost

The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Operating Lease Cost:
Fixed rent expense	$ 23	$ 15	$ 68	$ 60
Variable rent expense	3	3	10	9
Short-term lease cost	2	3	7	7
Sublease income	(7)	(6)	(23)	(24)
Net lease cost – other operating expense	$ 21	$ 15	$ 62	$ 52

The maturities of lease liabili

The maturities of lease liabilities are as follows at March 31, 2024: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Leases
Total remaining lease payments	$ 268
Less portion of payments representing interest	(53)
Present value of lease payments	215
Less current portion of lease payments	95	$ 71
Non-current lease liability	$ 120	$ 164

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 194	$ 2,341
Investment in equity securities	7	9
Total	201	2,350
Earnout shares liability	6,667	10,521
Warrant liabilities	4,409	4,989
Total	11,076	15,510
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	194	2,341
Investment in equity securities	7	9
Total	201	2,350
Earnout shares liability
Warrant liabilities
Total
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Investment in equity securities
Total
Earnout shares liability
Warrant liabilities	2,216	3,279
Total	2,216	3,279
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Investment in equity securities
Total
Earnout shares liability	6,667	10,521
Warrant liabilities	2,193	1,710
Total	$ 8,860	$ 12,231

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - Subsequent Event [Member] - USD ($)		1 Months Ended
	Apr. 12, 2024	Apr. 30, 2024
Subsequent Event [Line Items]
Subsequent Event, Description	On April 12, 2024, the Company issued and sold to Yorkville and Lind Global Fund II LP (together with Yorkville, the “April 2024 Purchasers”), in a private placement (the “April 2024 Private Placement”), $8,000 aggregate principal amount of unsecured notes (the “April 2024 Notes”), pursuant to a securities purchase agreement, dated April 11, 2024 (the “April 2024 Purchase Agreement”), between the Company and each of the April 2024 Purchasers. Pursuant to the terms of the April 2024 Notes, subject to certain exceptions, on the first day of each calendar month, beginning on June 1, 2024 (excluding August 2024) (the “Payment Date”), the Company will be required to repay a portion of the outstanding balance of all of the April 2024 Notes, on a pro-rata basis, in an amount equal to the sum of (i) $1,400 of principal (or the outstanding principal if less than such amount) in the aggregate among all of the outstanding Notes, plus (ii) 8.0% of the principal amount being paid (the “Payment Premium”), and (iii) accrued and unpaid interest, if any, as of the Payment Date. The Company is required to make payments on each Payment Date until the entire outstanding principal is repaid but will not have an obligation to make a payment on a Payment Date if certain equity conditions (the “Equity Conditions”) are satisfied.	As noted above, the Company is required to make payments on each Payment Date until the entire outstanding principal is repaid, but will not have an obligation to make a payment on a Payment Date if the Equity Conditions are satisfied. The Equity Conditions means (i) on each of the five consecutive trading days prior a Payment Date (the “Measuring Period”) the Underlying Shares Registration Statement (as defined below) is effective and available for the resale by the Purchasers of all Underlying Shares, (ii) the Company has no knowledge of any fact that would cause the Underlying Shares Registration Statement not to be effective and available for the resale of the Underlying Shares, (iii) on each day during the Measuring Period, the Common Shares are designated for quotation on Nasdaq, or on such other market or exchange on which the Common Shares are then listed or traded to the extent such other market or exchange is the principal U.S. trading market for the Common Shares (the “Principal U.S. Market”), and have not been suspended from trading nor have delisting or suspension of trading been threatened or pending, (iv) during the Measuring Period, an event of default has not occurred, (v) on each trading day during the Measuring Period, the daily U.S. dollar volume-weighted average price (“VWAP”) for a Common Share on the Principal U.S. Market as reported by Bloomberg Financial Markets is greater than 120% of the Conversion Price, (vi) on each trading day during the Measuring Period the average daily volume traded exceeded $500, and (vii) there is no limitation on conversion under the terms of Notes.
Conversion price, per share		$ 2.75
Number of shares issued on conversion		3,141,817
Purchase Agreement [Member]
Subsequent Event [Line Items]
Aggregate principal amount		$ 8,000
Net proceeds received from the debt		6,935
Purchase Agreement [Member] | Warrant [Member]
Subsequent Event [Line Items]
Aggregate principal amount		$ 615,385
Percentage of the debt warrants		25%
Strike price of warrants issued		$ 3.25