NioCorp Developments (NB) 10-Q 13 Nov 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2024	Nov. 13, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
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 Street
Entity Address, Address Line Two	Suite 115
Entity Address, City or Town	Centennial
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	(720)
Local Phone Number	334-7066
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,512,202
Common Shares Without Par Value [Member]
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	NB
Security Exchange Name	NASDAQ
Warrants Each Exercisable For1.11829212 Common Shares [Member]
Title of 12(b) Security	Warrants, each exercisable for 1.11829212 Common Shares
Trading Symbol	NIOBW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current
Cash and cash equivalents	$ 150	$ 2,012
Deferred share issuance costs	459
Prepaid expenses and other	587	916
Total current assets	1,196	2,928
Non-current
Deposits	35	35
Investment in equity securities	4	4
Right-of-use assets	167	181
Land and buildings, net	836	837
Mineral properties	16,085	16,085
Total assets	18,323	20,070
Current
Accounts payable and accrued liabilities	2,736	1,843
Warrant liabilities, at fair value		2,365
Convertible debt	5,258	7,660
Related party debt	33
Operating lease liability	97	96
Total current liabilities	8,124	11,964
Non-current
Warrant liabilities, at fair value	1,595	1,651
Earnout liability, at fair value	4,633	3,817
Operating lease liability	87	104
Total liabilities	14,439	17,536
Commitments and contingencies
Redeemable noncontrolling interest	1,503	1,534
SHAREHOLDERS’ EQUITY
Common stock, no par value, unlimited shares authorized; 38,720,244 and 38,062,647 shares outstanding, respectively	167,275	163,823
Accumulated deficit	(163,983)	(161,912)
Accumulated other comprehensive loss	(911)	(911)
Total shareholders’ equity	2,381	1,000
Total liabilities, redeemable noncontrolling interest, and shareholders’ equity	$ 18,323	$ 20,070

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized	Unlimited	Unlimited
Common stock, shares outstanding	38,720,244	38,062,647

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating expenses
Employee related costs	$ 330	$ 322
Professional fees	450	1,187
Exploration expenditures	138	1,100
Other operating expenses	477	834
Total operating expenses	1,395	3,443
Change in fair value of earnout shares liability	816	(2,093)
Change in fair value of warrant liabilities	(56)	73
Change in fair value of convertible notes	17
Interest expense	44	2,075
Foreign exchange loss (gain)	8	(11)
Other gains	(122)
Loss on equity securities		1
Loss before income taxes	(2,102)	(3,488)
Income tax benefit		(101)
Net loss and comprehensive loss	(2,102)	(3,387)
Less: Net loss attributable to redeemable noncontrolling interest	(31)	(174)
Net loss and comprehensive loss attributable to the Company	$ (2,071)	$ (3,213)
Loss per common share, basic and diluted	$ (0.05)	$ (0.09)
Weighted average common shares outstanding, basic and diluted	38,361,344	31,967,091

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (2,102)	$ (3,387)
Adjustments for:
Change in valuation of earnout shares liability	816	(2,093)
Change in valuation of warrant liabilities	(56)	73
Change in fair value of convertible note	17
Accretion of convertible debt	44	2,075
Other gain	(122)
Yorkville share issuances	(1)	53
Depreciation	1	1
Unrealized loss on equity securities		1
Non-cash lease activity	(1)	(1)
	(1,404)	(3,278)
Change in working capital items:
Prepaid expenses	(130)	417
Accounts payable and accrued liabilities	892	124
Net cash used in operating activities	(642)	(2,737)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of capital stock	692	1,532
Related party debt draws	33
Debt repayments	(1,943)
Share issue costs	(2)	(38)
Net cash (used in) provided by financing activities	(1,220)	1,494
Change in cash and cash equivalents during period	(1,862)	(1,243)
Cash and cash equivalents, beginning of period	2,012	2,341
Cash and cash equivalents, end of period	150	1,098
Supplemental cash flow information:
Conversion of debt for common shares	501	5,729
Value of warrants issued	$ 2,262

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, 2023	$ 140,421	$ (150,477)	$ (911)	$ (10,967)	$ 2,100
Beginning balance (in shares) at Jun. 30, 2023	31,202,131
Private placements	$ 1,000			1,000
Private placement (in shares)	250,000
Yorkville equity facility draws	$ 585			585
Shares issued under the Yorkville equity facility (in shares)	145,000
Debt conversions	$ 5,729			5,729
Debt conversions (in shares)	1,316,288
Share issuance costs	$ (38)			(38)
Loss for the period		(3,213)		(3,213)	(174)
Ending balance, value at Sep. 30, 2023	$ 147,697	(153,690)	(911)	(6,904)	1,926
Ending balance (in shares) at Sep. 30, 2023	32,913,419
Beginning balance, value at Jun. 30, 2024	$ 163,823	(161,912)	(911)	$ 1,000	1,534
Beginning balance (in shares) at Jun. 30, 2024	38,062,647			38,062,647
Yorkville equity facility draws	$ 691			$ 691
Shares issued under the Yorkville equity facility (in shares)	399,250
Debt conversions	$ 501			501
Debt conversions (in shares)	258,347
Issuance of warrants	$ 2,262			2,262
Share issuance costs	(2)			(2)
Loss for the period		(2,071)		(2,071)	(31)
Ending balance, value at Sep. 30, 2024	$ 167,275	$ (163,983)	$ (911)	$ 2,381	$ 1,503
Ending balance (in shares) at Sep. 30, 2024	38,720,244			38,720,244

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Sep. 30, 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 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	3 Months Ended
	Sep. 30, 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, 2024. 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 September 30, 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, 2024. The interim results are not necessarily indicative of results for the full year ending June 30, 2025, or future operating periods. b) Recent Accounting Standards Issued and Not Effective From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“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 April 2024 Notes, 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. The Company acquired a federal income tax payable of $ 443 101 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 2024 2023 Net loss $ (2,102 ) $ (3,387 ) Less: Net loss attributable to noncontrolling interest (31 ) (174 ) Net loss available to participating securities (2,071 ) (3,213 ) Less: Net loss attributable to vested shares of ECRC Class B common stock (186 ) (257 ) Net loss attributed to common shareholders - basic and diluted $ (1,885 ) $ (2,956 ) Denominator: Weighted average shares outstanding – basic and diluted 38,361,344 31,967,091 Loss per Common Share outstanding – basic and diluted $ (0.05 ) $ (0.09 ) 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-month periods indicated below. Schedule of excluded from the dilutive securities For the Three Months Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,455,500 1,319,000 Warrants 20,932,985 19,066,304 Convertible debt 1,920,000 2,448,730 Total potential dilutive securities 25,308,485 22,834,034 (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	3 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	3. GOING CONCERN The Company incurred a loss of $ 2,071 3,213 6,928 163,983 150 fund normal operations or the repayment of the April 2024 Notes (as further discussed in Note 5b) for the next twelve months. These conditions and events raise substantial doubt about the Company’s ability to continue as a going concern. In response to these conditions and events, the Company plans to obtain additional financing. As disclosed in Note 12, in November 2024 the Company closed an underwritten public offering (the “November 2024 Registered Offering”) and a non-brokered private placement (the “November 2024 Private Offering”, and together with the November 2024 Registered Offering, the “November Offerings”) which resulted in the receipt of net proceeds of $ 6,000 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	3 Months Ended
	Sep. 30, 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 September 30, 2024 June 30, Accounts payable, trade $ 2,056 $ 1,417 Trade payable accruals 603 350 Environmental accruals 48 48 Loan origination fees payable to related party 29 28 Total accounts payable and accrued liabilities $ 2,736 $ 1,843

DEBT

DEBT	3 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	5. DEBT a) Yorkville Convertible Debenture On July 19, 2024, the Company and Yorkville entered into a make-whole payment agreement under which Yorkville agreed to convert the remaining outstanding principal and accrued interest of $ 554 95 19 The change in the Convertible Debentures is presented below: For the Three Months Ended September 30, 2024 Balance at June 30, 2024 $ 571 Accretion expense 43 Principal and interest converted (614 ) Balance, September 30, 2024 $ - The following table discloses the components of interest expense associated with the Convertible Debentures. For the Three Months Component of Interest Expense 2024 2023 Contractual interest $ 1 $ 130 Amortization of discount and issuance costs 43 1,945 Total $ 44 $ 2,075 b) April 2024 Notes On April 12, 2024, the Company issued and sold to Yorkville and Lind Global Fund II LP (“Lind II”, and together with Yorkville, the “April 2024 Purchasers”) $ 8.0 615,385 25 3.25 The change in the April 2024 Notes is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 7,089 Principal payments (1,848 ) Change in fair value 17 Balance, September 30, 2024 $ 5,258 Remaining Principal Balance, September 30, 2024 $ 5,280 The change in the April 2024 Warrant liability is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 298 Change in fair value 149 Balance, September 30, 2024 $ 447 On September 4, 2024, NioCorp entered into (i) a consent and waiver (the “September Yorkville Consent”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement and (ii) a consent and waiver (together with the Yorkville Consent, the “September Consents”) to the April 2024 Notes issued and sold to Lind II pursuant to the April 2024 Purchase Agreement. The September Consents, among other things, reduced the amounts due to the April 2024 Purchasers on September 1, 2024 by an aggregate of $ 1,176 336 1,176

CLASS B COMMON STOCK OF ECRC

CLASS B COMMON STOCK OF ECRC	3 Months Ended
	Sep. 30, 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 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 September 30, June 30, Closing Common Share price $2.18 $1.73 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 60 % 65.0% Risk-free rate 3.74 % 4.35% The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three-month period ended September 30, 2024: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 3,817 Change in fair value 816 Fair value at September 30, 2024 $ 4,633

COMMON SHARES

COMMON SHARES	3 Months Ended
	Sep. 30, 2024
Equity [Abstract]
COMMON SHARES	7. COMMON SHARES a) Issuance The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the three months ended September 30, 2024: Date Common Shares Issued Gross Funds Received Market Value of Shares Issued (Gain)/Loss August 28, 2024 75,000 $ 140 $ 133 $ (7 ) September 3, 2024 71,000 124 123 (1 ) September 6, 2024 71,500 118 118 - September 16, 2024 72,000 124 124 - September 19, 2024 49,750 85 85 - September 25, 2024 60,000 101 108 7 (Gain)/loss on issuance represents a non-cash amount equal to the difference between the proceeds received and the fair value of the Common Shares issued based on the Nasdaq Stock Market LLC (the “Nasdaq”) closing price per Common Share on the issuance date and is recorded in other operating expenses in the condensed consolidated statement of operations and comprehensive loss. b) Stock Options Schedule of stock option Number of Options Weighted Average Aggregate Weighted Balance, June 30, 2024 2,495,500 $ 4.78 Granted - - Exercised - - Cancelled/expired (40,000 ) 6.95 Balance, September 30, 2024 2,455,500 $ 4.76 $ - 3.22 c) Warrants Warrant transactions are summarized as follows. Weighted average exercise prices related to Canadian dollar denominated warrants were converted to U.S. dollars using end of period foreign currency exchange rates. Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2024 18,563,561 $ 10.53 Granted 2,816,742 2.31 Exercised - - Expired (447,318 ) 8.94 Balance, September 30, 2024 20,932,985 $ 9.46 At September 30, 2024, the Company had outstanding exercisable Warrants, as follows: Number Exercise Price Expiry Date 855,800 C$ 9.70 February 19, 2025 250,000 $4.60 September 1, 2025 413,432 $3.54 December 22, 2025 315,000 $2.20 June 24, 2026 615,385 $3.25 April 12, 2027 15,666,626 $11.50 March 17, 2028 2,816,742 $2.31 September 17, 2028 20,932,985 Private Warrants On March 17, 2023, the Company closed a series of transactions (the “GXII Transaction”) pursuant to the Business Combination Agreement, dated as of September 25, 2022, by and among the Company, GXII, and Big Red Merger Sub Ltd. In connection with the closing of the GXII Transaction (the “Closing”), the Company assumed GXII’s obligations under the agreement governing the GXII share purchase warrants (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 September 30, June 30, Closing Common Share price $ 2.18 $ 1.73 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 60 % 69.0 % Risk free rate 3.58 % 4.45 % Dividend yield 0 % 0 % Expected warrant life in years 3.5 3.7 The change in the Private Warrants liability is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 1,353 Change in fair value (205 ) Fair value at September 30, 2024 $ 1,148 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 III”), Lind III 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 Toronto Stock Exchange 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. On September 17, 2024, the Company’s Common Share price was below the threshold price set forth in the Lind Consent, and accordingly, the Company issued 2,816,742 2.308 5,000 The Company valued the Contingent Consent Warrants at $2,262 based on a Black Scholes valuation with the following inputs: Key Valuation Input September 17, Closing Common Share price $ 1.74 Term (years) 4.0 Historic equity volatility 67.14 % Risk-free rate 3.44 % The Company recognized a gain of $103 on the issuance of the Contingent Consent Warrants. This gain was recorded as a part of other gains in the condensed consolidated statements of operations and comprehensive loss.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	8. RELATED PARTY TRANSACTIONS On September 11, 2024, the Company and Mark Smith, Chief Executive Officer, President and Executive Chairman of NioCorp, entered into a loan agreement (the “Smith Loan Agreement”), which provides for a $ 2,000 10 2.5 As of September 30, 2024, the principal amount outstanding under the Smith Loan was $ 33 29 471 250 28

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	3 Months Ended
	Sep. 30, 2024
Exploration Expenditures
EXPLORATION EXPENDITURES	9. EXPLORATION EXPENDITURES Schedule of exploration expenditures For the Three Months Ended September 30, 2024 2023 Technical studies and engineering $ - $ 200 Field management and other 91 135 Metallurgical development 47 746 Geologists and field staff - 19 Total $ 138 $ 1,100

LEASES

LEASES	3 Months Ended
	Sep. 30, 2024
Leases
LEASES	10. LEASES The Company incurred lease costs as follows: For the Three Months Ended September 30, 2024 2023 Operating Lease Cost: Fixed rent expense $ 23 $ 23 Variable rent expense 3 3 Short-term lease cost 3 2 Sublease income (9 ) (6 ) Net lease cost – other operating expense $ 20 $ 22 The maturities of lease liabilities are as follows at September 30, 2024: Future Lease Maturities Total remaining lease payments $ 220 Less portion of payments representing interest (36 ) Present value of lease payments 184 Less current portion of lease payments (97 ) Non-current lease liability $ 87

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	11. 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 September 30, 2024, and June 30, 2024, 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 September 30, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 150 $ 150 $ - $ - Investment in equity securities 4 4 - - Total $ 154 $ 154 $ - $ - Liabilities: April 2024 notes $ 5,258 $ - $ - $ 5,258 Earnout Shares liability 4,633 - - 4,633 Warrant liabilities 1,595 - 1,595 - Total $ 11,486 $ - $ 1,595 $ 9,891 As of June 30, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 2,012 $ 2,012 $ - $ - Investment in equity securities 4 4 - - Total $ 2,016 $ 2,016 $ - $ - Liabilities: April 2024 notes $ 7,089 $ - $ - $ 7,089 Earnout Shares liability 3,817 - - 3,817 Warrant liabilities 4,016 - 1,651 2,365 Total $ 14,922 $ - $ 1,651 $ 13,271

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS The October Yorkville Consent On October 3, 2024, NioCorp entered into (i) a consent and waiver (the “October Yorkville Consent”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement and (ii) a consent and waiver (together with the October Yorkville Consent, the “October Consents”) to the April 2024 Notes issued and sold to Lind II pursuant to the April 2024 Purchase Agreement. The October Consents, among other things, extended the maturity date to January 31, 2025, reduced the amounts due to the April 2024 Purchasers on October 1, 2024 by an aggregate of $ 1,176 336 The November 2024 Offerings On November 5, 2024, the Company closed the November 2024 Registered Offering, pursuant to the underwriting agreement, dated November 3, 2024 (the “Underwriting Agreement”), with Maxim Group LLC, as underwriter (the “Underwriter”), which consisted of 1,592,356 Common Shares, 1,672,090 Warrants (the “Series A Public Warrants”) to purchase up to an additional 1,672,090 Common Shares and 836,045 Warrants (the “Series B Public Warrants” and, together with the Series A Public Warrants, the “November Public Warrants”) to purchase up to an additional 836,045 Common Shares. Each Common Share was sold together with one Series A Public Warrant and one-half of one Series B Public Warrant at a combined public offering price of $1.57. The gross proceeds from the November 2024 Registered Offering were approximately $2,500 before deducting underwriting discounts and offering expenses. The Company entered into a warrant agency agreement with Computershare Inc. and its affiliate, Computershare Trust Company, N.A., together as warrant agent, setting forth the terms and conditions of the November Public Warrants. The Series A Public Warrants have an exercise price of $1.75 per underlying Common Share, are exercisable immediately, and will expire on November 5, 2026. The Series B Public Warrants have an exercise price of $2.07 per underlying Common Share, are exercisable beginning six months and one day from the date of issuance, and will expire on November 5, 2029. In addition, pursuant to the Underwriting Agreement, the Company granted the Underwriter a 45-day over-allotment option to purchase (i) 238,853 additional Common Shares and (ii) 358,280 Option Warrants (as defined below) to purchase up to an aggregate of 358,280 Common Shares. “Option Warrant” means one Series A Public Warrant combined with one-half of one Series B Public Warrant. 79,734 39,867 As of September 30, 2024, the Company had accrued $ 459 On November 13, 2024, the Company closed the November 2024 Private Offering, pursuant to binding subscription agreements with certain accredited investors as part of a non-brokered private placement of 2,199,602 units of the Company (the “Units”). Each Unit consists of one Common Share, one Warrant (collectively, the “Series A Private Warrants”) to purchase one Common Share and one-half of one Warrant to purchase one-half of one Common Share (collectively, the “Series B Private Warrants”). Each Unit was issued and sold at a price of $1.57. The gross proceeds of the November 2024 Private Offering were approximately $3,500 before deducting offering expenses. Certain directors and officers of the Company purchased November 2024 Units at a price of $1.7675 per Unit, which price includes $0.125 per Private Warrant and allows such directors and officers to participate in the November 2024 Private Offering in accordance with the rules of the Nasdaq. The Series A Private Warrants have an exercise price of $1.75 per underlying Common Share, are exercisable immediately, and will expire on November 13, 2026. 2.07 NioCorp currently intends to use the net proceeds from the November Offerings for working capital and general corporate purposes, including to (i) advance its efforts to launch construction the Elk Creek Project and move it to commercial operation and (ii) repay the amount outstanding under the Smith Credit Facility. The Smith Loan will continue to be available to the Company following the close of the November Offerings.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Sep. 30, 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, 2024. 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 September 30, 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, 2024. The interim results are not necessarily indicative of results for the full year ending June 30, 2025, or future operating periods.
Recent Accounting Standards	b) Recent Accounting Standards Issued and Not Effective From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“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 April 2024 Notes, 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. The Company acquired a federal income tax payable of $ 443 101
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 2024 2023 Net loss $ (2,102 ) $ (3,387 ) Less: Net loss attributable to noncontrolling interest (31 ) (174 ) Net loss available to participating securities (2,071 ) (3,213 ) Less: Net loss attributable to vested shares of ECRC Class B common stock (186 ) (257 ) Net loss attributed to common shareholders - basic and diluted $ (1,885 ) $ (2,956 ) Denominator: Weighted average shares outstanding – basic and diluted 38,361,344 31,967,091 Loss per Common Share outstanding – basic and diluted $ (0.05 ) $ (0.09 ) 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-month periods indicated below. Schedule of excluded from the dilutive securities For the Three Months Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,455,500 1,319,000 Warrants 20,932,985 19,066,304 Convertible debt 1,920,000 2,448,730 Total potential dilutive securities 25,308,485 22,834,034 (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)	3 Months Ended
	Sep. 30, 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 2024 2023 Net loss $ (2,102 ) $ (3,387 ) Less: Net loss attributable to noncontrolling interest (31 ) (174 ) Net loss available to participating securities (2,071 ) (3,213 ) Less: Net loss attributable to vested shares of ECRC Class B common stock (186 ) (257 ) Net loss attributed to common shareholders - basic and diluted $ (1,885 ) $ (2,956 ) Denominator: Weighted average shares outstanding – basic and diluted 38,361,344 31,967,091 Loss per Common Share outstanding – basic and diluted $ (0.05 ) $ (0.09 )
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities For the Three Months Excluded potentially dilutive securities (1)(2) 2024 2023 Options 2,455,500 1,319,000 Warrants 20,932,985 19,066,304 Convertible debt 1,920,000 2,448,730 Total potential dilutive securities 25,308,485 22,834,034 (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)	3 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities	Schedule of account payable and accrued liabilities As of September 30, 2024 June 30, Accounts payable, trade $ 2,056 $ 1,417 Trade payable accruals 603 350 Environmental accruals 48 48 Loan origination fees payable to related party 29 28 Total accounts payable and accrued liabilities $ 2,736 $ 1,843

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
The change in the Convertible Debentures is presented below:	The change in the Convertible Debentures is presented below: For the Three Months Ended September 30, 2024 Balance at June 30, 2024 $ 571 Accretion expense 43 Principal and interest converted (614 ) Balance, September 30, 2024 $ -
The following table discloses the components of interest expense associated with the Convertible Debentures.	The following table discloses the components of interest expense associated with the Convertible Debentures. For the Three Months Component of Interest Expense 2024 2023 Contractual interest $ 1 $ 130 Amortization of discount and issuance costs 43 1,945 Total $ 44 $ 2,075
The change in the April 2024 Notes is presented below:	The change in the April 2024 Notes is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 7,089 Principal payments (1,848 ) Change in fair value 17 Balance, September 30, 2024 $ 5,258 Remaining Principal Balance, September 30, 2024 $ 5,280
The change in the April 2024 Warrant liability is presented below:	The change in the April 2024 Warrant liability is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 298 Change in fair value 149 Balance, September 30, 2024 $ 447

CLASS B COMMON STOCK OF ECRC (T

CLASS B COMMON STOCK OF ECRC (Tables)	3 Months Ended
	Sep. 30, 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 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 September 30, June 30, Closing Common Share price $2.18 $1.73 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 60 % 65.0% Risk-free rate 3.74 % 4.35%
The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three-month period ended September 30, 2024:	The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the three-month period ended September 30, 2024: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 3,817 Change in fair value 816 Fair value at September 30, 2024 $ 4,633

COMMON SHARES (Tables)

COMMON SHARES (Tables)	3 Months Ended
	Sep. 30, 2024
Equity [Abstract]
The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the three months ended September 30, 2024:	The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the three months ended September 30, 2024: Date Common Shares Issued Gross Funds Received Market Value of Shares Issued (Gain)/Loss August 28, 2024 75,000 $ 140 $ 133 $ (7 ) September 3, 2024 71,000 124 123 (1 ) September 6, 2024 71,500 118 118 - September 16, 2024 72,000 124 124 - September 19, 2024 49,750 85 85 - September 25, 2024 60,000 101 108 7
Schedule of stock option	Schedule of stock option Number of Options Weighted Average Aggregate Weighted Balance, June 30, 2024 2,495,500 $ 4.78 Granted - - Exercised - - Cancelled/expired (40,000 ) 6.95 Balance, September 30, 2024 2,455,500 $ 4.76 $ - 3.22
Schedule of warrant transactions	Schedule of warrant transactions Number of Warrants Weighted Average Exercise Price Balance, June 30, 2024 18,563,561 $ 10.53 Granted 2,816,742 2.31 Exercised - - Expired (447,318 ) 8.94 Balance, September 30, 2024 20,932,985 $ 9.46
At September 30, 2024, the Company had outstanding exercisable Warrants, as follows:	At September 30, 2024, the Company had outstanding exercisable Warrants, as follows: Number Exercise Price Expiry Date 855,800 C$ 9.70 February 19, 2025 250,000 $4.60 September 1, 2025 413,432 $3.54 December 22, 2025 315,000 $2.20 June 24, 2026 615,385 $3.25 April 12, 2027 15,666,626 $11.50 March 17, 2028 2,816,742 $2.31 September 17, 2028 20,932,985
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 September 30, June 30, Closing Common Share price $ 2.18 $ 1.73 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 60 % 69.0 % Risk free rate 3.58 % 4.45 % Dividend yield 0 % 0 % Expected warrant life in years 3.5 3.7
The change in the Private Warrants liability is presented below:	The change in the Private Warrants liability is presented below: For the Three Months Ended September 30, 2024 Fair value at June 30, 2024 $ 1,353 Change in fair value (205 ) Fair value at September 30, 2024 $ 1,148
The Company valued the Contingent Consent Warrants at $2,262 based on a Black Scholes valuation with the following inputs:	The Company valued the Contingent Consent Warrants at $2,262 based on a Black Scholes valuation with the following inputs: Key Valuation Input September 17, Closing Common Share price $ 1.74 Term (years) 4.0 Historic equity volatility 67.14 % Risk-free rate 3.44 %

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	3 Months Ended
	Sep. 30, 2024
Exploration Expenditures
Schedule of exploration expenditures	Schedule of exploration expenditures For the Three Months Ended September 30, 2024 2023 Technical studies and engineering $ - $ 200 Field management and other 91 135 Metallurgical development 47 746 Geologists and field staff - 19 Total $ 138 $ 1,100

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Sep. 30, 2024
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the Three Months Ended September 30, 2024 2023 Operating Lease Cost: Fixed rent expense $ 23 $ 23 Variable rent expense 3 3 Short-term lease cost 3 2 Sublease income (9 ) (6 ) Net lease cost – other operating expense $ 20 $ 22
The maturities of lease liabilities are as follows at September 30, 2024:	The maturities of lease liabilities are as follows at September 30, 2024: Future Lease Maturities Total remaining lease payments $ 220 Less portion of payments representing interest (36 ) Present value of lease payments 184 Less current portion of lease payments (97 ) Non-current lease liability $ 87

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 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 September 30, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 150 $ 150 $ - $ - Investment in equity securities 4 4 - - Total $ 154 $ 154 $ - $ - Liabilities: April 2024 notes $ 5,258 $ - $ - $ 5,258 Earnout Shares liability 4,633 - - 4,633 Warrant liabilities 1,595 - 1,595 - Total $ 11,486 $ - $ 1,595 $ 9,891 As of June 30, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 2,012 $ 2,012 $ - $ - Investment in equity securities 4 4 - - Total $ 2,016 $ 2,016 $ - $ - Liabilities: April 2024 notes $ 7,089 $ - $ - $ 7,089 Earnout Shares liability 3,817 - - 3,817 Warrant liabilities 4,016 - 1,651 2,365 Total $ 14,922 $ - $ 1,651 $ 13,271

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Sep. 30, 2024 N
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

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
	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (2,102)	$ (3,387)
Less: Net loss attributable to noncontrolling interest	(31)	(174)
Net loss available to participating securities	(2,071)	(3,213)
Less: Net loss attributable to vested shares of ECRC Class B common stock	(186)	(257)
Net loss attributable to vested shares of ECRC Class B common stock	$ (1,885)	$ (2,956)
Weighted average shares outstanding basic and diluted	38,361,344	31,967,091
Loss per common share outstanding basic and diluted	$ (0.05)	$ (0.09)

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options	[1],[2]	2,455,500	1,319,000
Warrants	[1],[2]	20,932,985	19,066,304
Convertible debt	[1],[2]	1,920,000	2,448,730
Total potential dilutive securities	[1],[2]	$ 25,308,485	$ 22,834,034
[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.

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Federal income tax payable	$ 443
Income tax payable		$ 101

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Subsequent Event [Line Items]
Net loss		$ (2,102)	$ (3,387)
Capital deficit		6,928
Accumulated deficit		163,983		$ 161,912
Cash		$ 150		$ 2,012
Subsequent Event [Member]
Subsequent Event [Line Items]
Net proceeds	$ 6,000

Schedule of account payable and

Schedule of account payable and accrued liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts payable, trade	$ 2,056	$ 1,417
Trade payable accruals	603	350
Environmental accruals	48	48
Loan origination fees payable to related party	29	28
Total accounts payable and accrued liabilities	$ 2,736	$ 1,843

The change in the Convertible D

The change in the Convertible Debentures is presented below: (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Balance at June 30, 2024	$ 571
Accretion expense	43
Principal and interest converted	(614)
Balance, September 30, 2024

The following table discloses t

The following table discloses the components of interest expense associated with the Convertible Debentures. (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Contractual interest	$ 1	$ 130
Amortization of discount and issuance costs	43	1,945
Total	$ 44	$ 2,075

The change in the April 2024 No

The change in the April 2024 Notes is presented below: (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Fair value at June 30, 2024	$ 7,089
Principal payments	(1,848)
Change in fair value	17
Fair value at September 30, 2024	5,258
Remaining Principal Balance, September 30, 2024	$ 5,280

The change in the April 2024 Wa

The change in the April 2024 Warrant liability is presented below: (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at June 30, 2024	$ 3,817
Fair value at September 30, 2024	4,633
Earnout [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at June 30, 2024	298
Change in fair value	149
Fair value at September 30, 2024	$ 447

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended
	Dec. 01, 2024	Oct. 01, 2024	Sep. 17, 2024	Sep. 01, 2024	Jul. 19, 2024	Apr. 12, 2024	Sep. 30, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Number of shares			2,816,742
Common share price, per share							$ 9.46	$ 10.53
Aggregate principal amount	$ 1,176,000	$ 1,176		$ 1,176,000
Increased the amounts due		$ 336		$ 336,000
Yorkville Convertible Debt Financing Agreement [Member]
Debt Instrument [Line Items]
Shares exchange					$ 95
Yorkville Convertible Debenture [Member]
Debt Instrument [Line Items]
Gain on extinguishment							$ 19
Purchase Agreement [Member]
Debt Instrument [Line Items]
Number of shares						615,385
Percentage value						25%
Common share price, per share						$ 3.25
Unsecured Debt [Member]
Debt Instrument [Line Items]
Shares exchange					$ 554
Aggregate principal amount						$ 8,000

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
	Sep. 30, 2024	Jun. 30, 2024	Sep. 17, 2024
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price	$ 2.18	$ 1.73	$ 1.74
Term (expiry)	Mar. 17, 2033	Mar. 17, 2033
Implied volatility of public warrants	60%	65%
Risk-free rate	3.74%	4.35%

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-month period ended September 30, 2024: (Details) - Earnout [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at June 30, 2024	$ 3,817
Change in fair value	816
Fair value at September 30, 2024	$ 4,633

The Company issued the followin

The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the three months ended September 30, 2024: (Details) - USD ($) $ in Thousands	Sep. 25, 2024	Sep. 24, 2024	Sep. 19, 2024	Sep. 16, 2024	Sep. 06, 2024	Sep. 03, 2024	Aug. 28, 2024
Equity [Abstract]
Common shares issued	60,000		49,750	72,000	71,500	71,000	75,000
Gross funds received	$ 101		$ 85	$ 124	$ 118	$ 124	$ 140
Fair value of common shares issued	$ 108		85	124	118	123	133
Gross funds received		$ 7				$ (1)	$ (7)

Schedule of stock option (Detai

Schedule of stock option (Details)	3 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Equity [Abstract]
Beginning balance | shares	2,495,500
Beginning balance | $ / shares	$ 4.78
Granted | shares
Granted | $ / shares
Exercised | shares
Exercised | $ / shares
Cancelled/expired | shares	(40,000)
Cancelled/expired | $ / shares	$ 6.95
Ending balance | shares	2,455,500
Beginning balance | $ / shares	$ 4.76
Aggregate intrinsic value | $
Weighted average remaining contractual life	3 years 2 months 19 days

Schedule of warrant transaction

Schedule of warrant transactions (Details)	3 Months Ended
	Sep. 30, 2024 $ / shares shares
Equity [Abstract]
Beginning balance	18,563,561
Beginning balance | $ / shares	$ 10.53
Granted	2,816,742
Granted | $ / shares	$ 2.31
Exercised
Exercised
Expired	(447,318)
Expired | $ / shares	$ 8.94
Ending balance	20,932,985
Ending balance | $ / shares	$ 9.46

At September 30, 2024, the Comp

At September 30, 2024, the Company had outstanding exercisable Warrants, as follows: (Details)	Sep. 30, 2024 $ / shares shares	Sep. 30, 2024 $ / shares shares	Jun. 30, 2024 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	20,932,985	20,932,985	18,563,561
Exercise price | $ / shares	$ 9.46		$ 10.53
Exercise Price9.70 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	855,800	855,800
Exercise price | $ / shares		$ 9.70
Expiry date	Feb. 19, 2025	Feb. 19, 2025
Exercise Price4.60 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	250,000	250,000
Exercise price | $ / shares		$ 4.60
Expiry date	Sep. 01, 2025	Sep. 01, 2025
Exercise Price3.54 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	413,432	413,432
Exercise price | $ / shares		$ 3.54
Expiry date	Dec. 22, 2025	Dec. 22, 2025
Exercise Price2.20 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	315,000	315,000
Exercise price | $ / shares		$ 2.20
Expiry date	Jun. 24, 2026	Jun. 24, 2026
Exercise Price3.35 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	615,385	615,385
Exercise Price3.25 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price | $ / shares		$ 3.25
Expiry date	Apr. 12, 2027	Apr. 12, 2027
Exercise Price11.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	15,666,626	15,666,626
Exercise price | $ / shares		$ 11.50
Expiry date	Mar. 17, 2028	Mar. 17, 2028
Exercise Price2.31 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number | shares	2,816,742	2,816,742
Exercise price | $ / shares		$ 2.31
Expiry date	Sep. 17, 2028	Sep. 17, 2028

The following observable data p

The following observable data points were used in calculating the fair value of the Private Warrants using a Black Scholes pricing model: (Details) - Fair Value, Inputs, Level 2 [Member] - $ / shares		3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 17, 2024	Sep. 30, 2024	Sep. 30, 2024	Jun. 30, 2024
Platform Operator, Crypto Asset [Line Items]
Stock price on valuation date		$ 2.18	$ 2.18	$ 1.73
Strike price		$ 11.50	$ 11.50	$ 11.50
Implied volatility of public warrants	67.14%		60%	69%
Risk free rate			3.58%	4.45%
Dividend yield		0%		0%
Expected warrant life in years	4 years	3 years 5 months 30 days		3 years 8 months 12 days

The change in the Private Warra

The change in the Private Warrants liability is presented below: (Details) - Note Warrant [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Subsidiary, Sale of Stock [Line Items]
Beginning balance	$ 1,353
Change in fair value	(205)
Ending balance	$ 1,148

The Company valued the Continge

The Company valued the Contingent Consent Warrants at $2,262 based on a Black Scholes valuation with the following inputs: (Details) - $ / shares		3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 17, 2024	Sep. 30, 2024	Sep. 30, 2024	Jun. 30, 2024
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price		$ 11.50	$ 11.50	$ 11.50
Term (years)	4 years	3 years 5 months 30 days		3 years 8 months 12 days
Historic equity volatility	67.14%		60%	69%
Risk-free rate			3.58%	4.45%
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Risk-free rate	3.44%
Measurement Input, Exercise Price [Member] | Valuation Technique, Option Pricing Model [Member] | Earnout [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price	$ 1.74	$ 2.18	$ 2.18	$ 1.73
Historic equity volatility			60%	65%

COMMON SHARES (Details Narrativ

COMMON SHARES (Details Narrative)		3 Months Ended
	Sep. 17, 2024 USD ($) shares	Sep. 30, 2024 $ / shares shares	Sep. 17, 2024 $ / shares	Jun. 30, 2024 $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants traded prior to the closing		20,932,985		18,563,561
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 III”), Lind III 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 Toronto Stock Exchange 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.
Stock issued, shares	2,816,742
Common share exercise price, per share | $ / shares		$ 9.46		$ 10.53
GXII Private Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants traded prior to the closing		5,666,667
Lind Consent Warrant Issuance [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common share exercise price, per share | $ / shares			$ 2.308
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | $	$ 5,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants traded prior to the closing		15,666,626
Warrants traded prior to the closing		9,999,959
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).

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands			3 Months Ended
	Nov. 06, 2024	Sep. 11, 2024	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Origination fees			$ 450	$ 1,187
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Accounts payable and accrued liabilities			33
Origination fees			29
Additional drawdowns			$ 471
Chief Executive Officer [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Origination fees	$ 28
Repaid outstanding interest	$ 250
Non Revolving Credit Facility Agreement [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Credit agreement		$ 2,000
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
	Sep. 30, 2024	Sep. 30, 2023
Exploration expenditures	$ 138	$ 1,100
Technical Studies And Engineering [Member]
Exploration expenditures		200
Fieldmanagementandother [Member]
Exploration expenditures	91	135
Metallurgicaldevelopment [Member]
Exploration expenditures	47	746
Geologist And Field Staff [Member]
Exploration expenditures		$ 19

The Company incurred lease cost

The Company incurred lease costs as follows: (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Lease Cost:
Fixed rent expense	$ 23	$ 23
Variable rent expense	3	3
Short-term lease cost	3	2
Sublease income	(9)	(6)
Net lease cost – other operating expense	$ 20	$ 22

The maturities of lease liabili

The maturities of lease liabilities are as follows at September 30, 2024: (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Leases
Total remaining lease payments	$ 220
Less portion of payments representing interest	(36)
Present value of lease payments	184
Less current portion of lease payments	(97)	$ (96)
Non-current lease liability	$ 87	$ 104

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 150	$ 2,012
Cash and cash equivalents	4	4
Total	154	2,016
Cash and cash equivalents	5,258	7,089
Cash and cash equivalents	4,633	3,817
Warrant liabilities	1,595	4,016
Cash and cash equivalents	11,486	14,922
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	150	2,012
Cash and cash equivalents	4	4
Total	154	2,016
Cash and cash equivalents
Cash and cash equivalents
Warrant liabilities
Cash and cash equivalents
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Cash and cash equivalents
Total
Cash and cash equivalents
Cash and cash equivalents
Warrant liabilities	1,595	1,651
Cash and cash equivalents	1,595	1,651
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Cash and cash equivalents
Total
Cash and cash equivalents	5,258	7,089
Cash and cash equivalents	4,633	3,817
Warrant liabilities		2,365
Cash and cash equivalents	$ 9,891	$ 13,271

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Dec. 01, 2024	Nov. 13, 2024	Nov. 12, 2024	Nov. 04, 2024	Nov. 04, 2024	Oct. 03, 2024	Oct. 01, 2024	Sep. 01, 2024	Sep. 30, 2024
Subsequent Event [Line Items]
Aggregate principal amount	$ 1,176,000,000						$ 1,176,000	$ 1,176,000,000
Increased the amounts due							$ 336,000	$ 336,000,000
Aggregate principal amount									$ 459,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Subsequent event, description		On November 13, 2024, the Company closed the November 2024 Private Offering, pursuant to binding subscription agreements with certain accredited investors as part of a non-brokered private placement of 2,199,602 units of the Company (the “Units”). Each Unit consists of one Common Share, one Warrant (collectively, the “Series A Private Warrants”) to purchase one Common Share and one-half of one Warrant to purchase one-half of one Common Share (collectively, the “Series B Private Warrants”). Each Unit was issued and sold at a price of $1.57. The gross proceeds of the November 2024 Private Offering were approximately $3,500 before deducting offering expenses. Certain directors and officers of the Company purchased November 2024 Units at a price of $1.7675 per Unit, which price includes $0.125 per Private Warrant and allows such directors and officers to participate in the November 2024 Private Offering in accordance with the rules of the Nasdaq. The Series A Private Warrants have an exercise price of $1.75 per underlying Common Share, are exercisable immediately, and will expire on November 13, 2026.			On November 5, 2024, the Company closed the November 2024 Registered Offering, pursuant to the underwriting agreement, dated November 3, 2024 (the “Underwriting Agreement”), with Maxim Group LLC, as underwriter (the “Underwriter”), which consisted of 1,592,356 Common Shares, 1,672,090 Warrants (the “Series A Public Warrants”) to purchase up to an additional 1,672,090 Common Shares and 836,045 Warrants (the “Series B Public Warrants” and, together with the Series A Public Warrants, the “November Public Warrants”) to purchase up to an additional 836,045 Common Shares. Each Common Share was sold together with one Series A Public Warrant and one-half of one Series B Public Warrant at a combined public offering price of $1.57. The gross proceeds from the November 2024 Registered Offering were approximately $2,500 before deducting underwriting discounts and offering expenses. The Company entered into a warrant agency agreement with Computershare Inc. and its affiliate, Computershare Trust Company, N.A., together as warrant agent, setting forth the terms and conditions of the November Public Warrants. The Series A Public Warrants have an exercise price of $1.75 per underlying Common Share, are exercisable immediately, and will expire on November 5, 2026. The Series B Public Warrants have an exercise price of $2.07 per underlying Common Share, are exercisable beginning six months and one day from the date of issuance, and will expire on November 5, 2029. In addition, pursuant to the Underwriting Agreement, the Company granted the Underwriter a 45-day over-allotment option to purchase (i) 238,853 additional Common Shares and (ii) 358,280 Option Warrants (as defined below) to purchase up to an aggregate of 358,280 Common Shares. “Option Warrant” means one Series A Public Warrant combined with one-half of one Series B Public Warrant.	On October 3, 2024, NioCorp entered into (i) a consent and waiver (the “October Yorkville Consent”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement and (ii) a consent and waiver (together with the October Yorkville Consent, the “October Consents”) to the April 2024 Notes issued and sold to Lind II pursuant to the April 2024 Purchase Agreement. The October Consents, among other things, extended the maturity date to January 31, 2025, reduced the amounts due to the April 2024 Purchasers on October 1, 2024 by an aggregate of $1,176 to an aggregate of $336 and deferred such amounts due to the April 2024 Purchasers until January 1, 2025, and prospectively waived any term of the April 2024 Notes that would otherwise be triggered upon a failure of the Company to pay to the April 2024 Purchasers the remainder of the amount due on October 1, 2024. Except as modified by the September Consents, as discussed in Note 5b, and the October Consents, the terms of the April 2024 Notes as previously disclosed are unchanged.
Exercise price			$ 2.07
Subsequent Event [Member] | Purchase Agreement Series A [Member]
Subsequent Event [Line Items]
Aggregate principal amount				$ 79,734
Subsequent Event [Member] | Purchase Agreement Series B [Member]
Subsequent Event [Line Items]
Aggregate principal amount				$ 39,867