NioCorp Developments (NB) 10-Q 7 Feb 25 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2024	Feb. 07, 2025
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Period Focus	Q2
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		46,818,119
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	Dec. 31, 2024	Jun. 30, 2024
Current
Cash and cash equivalents	$ 477	$ 2,012
Prepaid expenses and other	261	916
Total current assets	738	2,928
Non-current
Deposits	35	35
Investment in equity securities	4	4
Right-of-use assets	151	181
Land and buildings, net	840	837
Mineral properties	16,085	16,085
Total assets	17,853	20,070
Current
Accounts payable and accrued liabilities	2,552	1,843
Warrant liabilities, at fair value		2,365
Convertible debt	1,176	7,660
Operating lease liability	97	96
Total current liabilities	3,825	11,964
Non-current
Warrant liabilities, at fair value	2,687	1,651
Earnout liability, at fair value	3,064	3,817
Operating lease liability	70	104
Total liabilities	9,646	17,536
Commitments and contingencies
Redeemable noncontrolling interest	1,316	1,534
SHAREHOLDERS’ EQUITY
Common stock, no par value, unlimited shares authorized; 43,671,287 and 38,062,647 shares outstanding, respectively	172,235	163,823
Accumulated deficit	(164,433)	(161,912)
Accumulated other comprehensive loss	(911)	(911)
Total shareholders’ equity	6,891	1,000
Total liabilities, redeemable noncontrolling interest, and shareholders’ equity	$ 17,853	$ 20,070

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 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	43,671,287	38,062,647

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Operating expenses
Employee related costs	$ 904	$ 328	$ 1,234	$ 650
Professional fees	772	952	1,222	2,139
Exploration expenditures	261	828	399	1,928
Other operating expenses	964	809	1,441	1,643
Total operating expenses	2,901	2,917	4,296	6,360
Change in fair value of earnout shares liability	(1,569)	(806)	(753)	(2,899)
Change in fair value of warrant liabilities	(837)	71	(893)	144
Change in fair value of convertible notes	23		40
Interest expense	4	1,176	48	3,251
Foreign exchange (gain) loss	(4)	28	4	17
Other gains			(122)
Loss on equity securities		1		2
Loss before income taxes	(518)	(3,387)	(2,620)	(6,875)
Income tax benefit				(101)
Net loss and comprehensive loss	(518)	(3,387)	(2,620)	(6,774)
Less: Net loss attributable to redeemable noncontrolling interest	(68)	(96)	(99)	(270)
Net loss and comprehensive loss attributable to the Company	$ (450)	$ (3,291)	$ (2,521)	$ (6,504)
Loss per common share, basic and diluted	$ (0.01)	$ (0.09)	$ (0.06)	$ (0.18)
Weighted average common shares outstanding, basic and diluted	41,168,372	33,255,557	39,764,858	32,555,092

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (2,620)	$ (6,774)
Adjustments for:
Change in valuation of earnout shares liability	(753)	(2,899)
Change in valuation of warrant liabilities	(893)	144
Other gain	(122)
Share based compensation	781
Fair value of private placement warrants	144	102
Accretion of convertible debt	44	3,251
Change in fair value of convertible note	40
Yorkville share issuances	37	63
Depreciation	1	1
Unrealized loss on equity securities		2
Non-cash lease activity	(2)	22
	(3,343)	(6,088)
Change in working capital items:
Prepaid expenses	654	953
Accounts payable and accrued liabilities	709	510
Net cash used in operating activities	(1,980)	(4,625)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of land and buildings	(5)
Net cash used in investing activities	(5)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of capital stock	7,828	3,054
Related party debt draws	33
Related party debt repayments	(33)
Convertible debt repayments	(6,047)
Share issue costs	(1,331)	(136)
Net cash provided by financing activities	450	2,918
Change in cash and cash equivalents during period	(1,535)	(1,707)
Cash and cash equivalents, beginning of period	2,012	2,341
Cash and cash equivalents, end of period	477	634
Supplemental cash flow information:
Conversion of debt for common shares	501	8,306
Value of warrants issued	2,262
Interest paid	$ 4

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
Exercise of options
Exercise of options (in shares)	7,800
Private placements	$ 2,393			2,393
Private placement (in shares)	663,432
Yorkville equity facility draws	$ 829			829
Yorkville equity facility draws (in shares)	220,000
Debt conversions	$ 8,306			8,306
Debt conversions (in shares)	1,998,481
Share issuance costs	$ (139)			(139)
Loss for the period		(6,504)		(6,504)	(270)
Ending balance, value at Dec. 31, 2023	$ 151,810	(156,981)	(911)	(6,082)	1,830
Ending balance (in shares) at Dec. 31, 2023	34,091,844
Beginning balance, value at Sep. 30, 2023	$ 147,697	(153,690)	(911)	(6,904)	1,926
Beginning balance (in shares) at Sep. 30, 2023	32,913,419
Exercise of options
Exercise of options (in shares)	7,800
Private placements	$ 1,393			1,393
Private placement (in shares)	413,432
Yorkville equity facility draws	$ 244			244
Yorkville equity facility draws (in shares)	75,000
Debt conversions	$ 2,577			2,577
Debt conversions (in shares)	682,193
Share issuance costs	$ (101)			(101)
Loss for the period		(3,291)		(3,291)	(96)
Ending balance, value at Dec. 31, 2023	$ 151,810	(156,981)	(911)	(6,082)	1,830
Ending balance (in shares) at Dec. 31, 2023	34,091,844
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	$ 1,863			$ 1,863
Yorkville equity facility draws (in shares)	1,210,250
Debt conversions	$ 501			501
Debt conversions (in shares)	258,347
Share issuance costs	$ (1,332)			(1,332)
Loss for the period		(2,521)		(2,521)	(99)
November 2024 Registered Offering	$ 2,502			2,502
November 2024 registered offering (in shares)	1,592,356
November 2024 Private Offering	$ 1,716			1,716
November 2024 private offering (in shares)	2,199,602
Redemptions of vested shares	$ 119			119	(119)
Redemptions of vested shares (in shares)	348,085
Share-based compensation	$ 781			781
Issuance of warrants	2,262			2,262
Ending balance, value at Dec. 31, 2024	$ 172,235	(164,433)	(911)	$ 6,891	1,316
Ending balance (in shares) at Dec. 31, 2024	43,671,287			43,671,287
Beginning balance, value at Sep. 30, 2024	$ 167,275	(163,983)	(911)	$ 2,381	1,503
Beginning balance (in shares) at Sep. 30, 2024	38,720,244
Yorkville equity facility draws	$ 1,172			1,172
Yorkville equity facility draws (in shares)	811,000
Share issuance costs	$ (1,330)			(1,330)
Loss for the period		(450)		(450)	(68)
November 2024 Registered Offering	$ 2,502			2,502
November 2024 registered offering (in shares)	1,592,356
November 2024 Private Offering	$ 1,716			1,716
November 2024 private offering (in shares)	2,199,602
Redemptions of vested shares	$ 119			119	(119)
Redemptions of vested shares (in shares)	348,085
Share-based compensation	$ 781			781
Ending balance, value at Dec. 31, 2024	$ 172,235	$ (164,433)	$ (911)	$ 6,891	$ 1,316
Ending balance (in shares) at Dec. 31, 2024	43,671,287			43,671,287

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Dec. 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 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. 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.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Dec. 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, 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 December 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, 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 In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU expand public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the Chief Operating Decision Maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU will be effective for our annual report for the period ending June 30, 2025, and for interim period reports beginning thereafter. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for our annual report for the period ending June 30, 2027, and for interim period reports beginning thereafter. Early adoption is permitted and the amendments should be applied prospectively; however, retrospective application is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires the disclosure of additional information related to certain costs and expenses, including amounts of inventory purchases, employee compensation, and depreciation and amortization included in each income statement line item. This ASU also requires disclosure of the total amount of selling expenses and our definition of selling expenses. This ASU is effective for our annual report for the period ending June 30, 2028, and for interim period reports beginning thereafter on a prospective or retrospective basis. Early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and 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 April 2024 Notes, Earnout Shares, Private Warrants, November Public Warrants, and November Private 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 Ended December 31, For the Six Months Ended December 31, 2024 2023 2024 2023 Net loss $ (518 ) (3,387 ) $ (2,620 ) $ (6,774 ) Adjust: Net loss attributable to noncontrolling interest (68 ) (96 ) (99 ) (270 ) Net loss available to participating securities (450 ) (3,291 ) (2,521 ) (6,504 ) Net loss attributable to vested shares of ECRC Class B common stock (48 ) (321 ) (176 ) (580 ) Net loss attributed to common shareholders - basic and diluted $ (402 ) (2,970 ) $ (2,345 ) $ (5,924 ) Denominator: Weighted average shares outstanding – basic and diluted 41,168,372 33,255,557 39,764,858 32,555,092 Loss per Common Share outstanding – basic and diluted $ (0.01 ) (0.09 ) $ (0.06 ) $ (0.18 ) 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 and Six Months Excluded potentially dilutive securities (1) (2) 2024 2023 Options 3,068,000 938,000 Warrants (3) 26,740,515 19,032,421 Convertible debt - 2,089,860 Total potential dilutive securities 29,808,515 22,060,281 (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. (3) Includes 15,666,626 NioCorp Assumed Warrants that are each exercisable into 1.11829212 Common Shares and 11,073,889 Warrants that are each exercisable into one Common Share.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	3. GOING CONCERN The Company incurred a loss of $ 2,521 6,504 3,087 164,433 477 In response to these conditions and events, the Company plans to obtain additional financing. As disclosed in Note 13, on January 31, 2025, the Company closed the January 2025 Offering (as defined below), which resulted in the receipt of net proceeds of approximately $5,000 before deducting underwriting discounts and offering expenses. The Company may pursue additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. The Company’s plans to obtain additional financing have not been finalized, are subject to market conditions, and are not within the Company’s control and therefore cannot be deemed probable. Further, the Company will be required to raise additional funds for the construction and commencement of operations. As a result, the Company has concluded that management’s plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern. 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.

MINERAL PROPERTIES

MINERAL PROPERTIES	6 Months Ended
	Dec. 31, 2024
Extractive Industries [Abstract]
MINERAL PROPERTIES	4. MINERAL PROPERTIES During the quarter ended December 31, 2024, the Company completed negotiations with four landowners in Nebraska and entered into contract amendments which extended the option periods by approximately five years for each option to purchase agreement (“OTP”) covering four parcels of land for project construction and operation which the Company does not already own. The Company paid $106 upon closing of the OTP extensions and will make periodic payments totaling $184 over the extension period.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	5. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of account payable and accrued liabilities: As of December 31, 2024 June 30, Accounts payable, trade $ 2,243 $ 1,417 Trade payable accruals 261 350 Environmental accruals 48 48 Loan origination fees payable to related party - 28 Total accounts payable and accrued liabilities $ 2,552 $ 1,843

DEBT

DEBT	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT	6. 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 Six Months Ended Balance at June 30, 2024 $ 571 Accretion expense 43 Principal and interest converted (614 ) Balance, December 31, 2024 $ - The following table discloses the components of interest expense associated with the Convertible Debentures. For the Three Months Ended For the Six Months Ended Component of Interest Expense 2024 2023 2024 2023 Contractual interest $ - $ 91 $ 1 $ 221 Amortization of discount and issuance costs - 1,085 42 3,030 Total $ - $ 1,176 $ 43 $ 3,251 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 The change in the April 2024 Notes is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 7,089 Principal payments (5,953 ) Change in fair value 40 Balance, December 31, 2024 $ 1,176 Remaining Principal Balance, December 31, 2024 $ 1,176 The change in the April 2024 Warrant liability is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 298 Change in fair value (86 ) Fair value at December 31, 2024 $ 212 On September 4, 2024 and October 3, 2024, NioCorp entered into (i) consents and waivers (the “2024 Yorkville Consents”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement and (ii) consents and waivers (together with the 2024 Yorkville Consents, the “2024 Note Consents”) to the April 2024 Notes issued and sold to Lind II pursuant to the April 2024 Purchase Agreement. The 2024 Note Consents, among other things, extended and deferred certain monthly payments and extended the maturity of the April 2024 Notes until January 31, 2025. Except as modified by the 2024 Note Consents and the January Yorkville Consent (as defined below), as discussed in Note 13, the terms of the April 2024 Notes as previously disclosed are unchanged.

CLASS B COMMON STOCK OF ECRC

CLASS B COMMON STOCK OF ECRC	6 Months Ended
	Dec. 31, 2024
Class B Common Stock Of Ecrc
CLASS B COMMON STOCK OF ECRC	7. 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. Certain of such shares were vested as of the Closing (as defined below) and are exchangeable at any time, from time to time, until the tenth anniversary of the Closing Date (as defined below) (the “Vested Shares”) and certain of such shares are subject to certain vesting conditions (the “Earnout Shares”). Earnout Shares The Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs: Key Valuation Input December 31, June 30, Closing Common Share price $1.55 $1.73 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 64.0% 65.0% Risk-free rate 4.52% 4.35% The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the six-month period ended December 31, 2024: For the Six Months Ended Fair value at June 30, 2024 $ 3,817 Change in fair value (753 ) Fair value at December 31, 2024 $ 3,064 Vested Shares On December 12, 2024, and December 20, 2024, 25,000 323,085 3,934,031

COMMON SHARES

COMMON SHARES	6 Months Ended
	Dec. 31, 2024
Equity [Abstract]
COMMON SHARES	8. COMMON SHARES a) Issuance On November 5, 2024, the Company closed an underwritten public offering (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 $2,501 before deducting underwriting discounts and offering expenses. The November Public Warrants were classified as equity instruments and accordingly, the net proceeds were allocated based on the relative fair values of the Common Shares and the November Public Warrants on the date of issuance, with $943 allocated to the fair value of the November Public Warrants and the balance of the proceeds of $1,558 allocated to Common Shares. The Company incurred total transaction costs related to the November 2024 Registered Offering $1,226, which were treated as share issuance costs at closing. 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 November 4, 2024, the Underwriter partially exercised its over-allotment option to purchase 79,734 39,867 On November 13, 2024, the Company closed a non-brokered private placement (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 Based upon the Company’s analysis of the criteria contained in ASC 815, the Company determined that the November Private Warrants met the definition of a derivative liability, as any warrant exercise that could cause the holder to exceed 19.9% ownership of NioCorp Common Shares would require shareholder approval. As such, the November Private Warrants were recognized as warrant liabilities on the consolidated balance sheet and were measured at their issuance date fair value of $ 1,928 1,573 161 60 The following tables disclose the primary inputs for the Black-Scholes model used in valuing the November Public Warrants and November Private Warrants. Schedule of Black-Scholes model used in valuing the November Public Warrants and November Private Warrants Series A Public Warrants Series B Public Warrants Key Valuation Input December 31, 2024 November 5, 2024 December 31, 2024 November 5, 2024 Closing Common Share price $ 1.55 $ 1.455 $ 1.55 $ 1.455 Term (years) 4.5 4.5 1.85 2.0 Historic equity volatility 67.98 % 67.43 % 70.84 % 67.13 % Risk-free rate 4.36 % 4.14 % 4.25 % 4.20 % Series A Private Warrants Series B Private Warrants Key Valuation Input December 31, 2024 November 13, 2024 December 31, 2024 November 13, 2024 Closing Common Share price $ 1.55 $ 1.49 $ 1.55 $ 1.49 Term (years) 4.5 4.5 1.87 2.0 Historic equity volatility 67.98 % 67.52 % 70.47 % 67.26 % Risk-free rate 4.36 % 4.30 % 4.25 % 4.20 % The following table sets forth a summary of the changes in the fair value of the November Private Warrants liabilities. November Private Warrants Fair value at issuance $ 1,929 Change in fair value 152 Fair value as of December 31, 2024 $ 2,081 As of December 31, 2024, the Company has access to up to $ 57,443 The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the six months ended December 31, 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 November 18, 2024 115,000 158 167 9 November 21, 2024 110,000 147 150 3 November 27, 2024 105,000 137 138 1 December 6, 2024 110,000 155 187 32 December 11, 2024 141,000 219 212 (7 ) December 16, 2024 120,000 168 166 (2 ) December 20, 2024 110,000 149 154 5 (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 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 935,000 1.40 Exercised - - Cancelled/expired (362,500 ) 9.35 Balance, December 31, 2024 3,068,000 $ 3.17 $ 140 3.89 On December 23, 2024, the Company granted 935,000 0.84 4.44 67.2 781 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 8,624,272 2.00 Exercised - - Expired (447,318 ) 8.94 Balance, December 31, 2024 26,740,515 $ 7.81 At December 31, 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 1,672,090 $1.75 November 5, 2026 2,199,602 $1.75 November 13, 2026 615,385 $3.25 April 12, 2027 15,666,626 $11.50 March 17, 2028 2,816,742 $2.31 September 17, 2028 836,045 $2.07 November 5, 2029 1,099,793 $2.07 November 13, 2029 26,740,515 Private Warrants On March 17, 2023 (the “Closing Date”), 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 December 31, June 30, Closing Common Share price $ 1.55 $ 1.73 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 62.5 % 69.0 % Risk free rate 4.35 % 4.45 % Dividend yield 0 % 0 % Expected warrant life in years 3.2 3.7 The change in the Private Warrants liability is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 1,353 Change in fair value (960 ) Fair value at December 31, 2024 $ 393 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	6 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	9. 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 Through October 30, 2024, the Company borrowed a total of $ 504 41 0 0

Exploration Expenditures

Exploration Expenditures	6 Months Ended
	Dec. 31, 2024
Exploration Expenditures
Exploration Expenditures	10. Exploration Expenditures Schedule of exploration expenditures For the Three Months Ended December 31, For the Six Months 2024 2023 2024 2023 Technical studies and engineering $ 4 $ 97 $ 4 $ 297 Field management and other 210 147 301 282 Metallurgical development 47 584 94 1,330 Geologists and field staff - - - 19 Total $ 261 $ 828 $ 399 $ 1,928

Leases

Leases	6 Months Ended
	Dec. 31, 2024
Leases
Leases	11. Leases The Company incurred lease costs as follows: For the Three Months Ended December 31, For the Six Months Operating Lease Cost: 2024 2023 2024 2023 Fixed rent expense $ 23 $ 23 $ 46 $ 45 Variable rent expense 4 3 7 7 Short-term lease cost 2 2 5 5 Sublease income (15 ) (10 ) (24 ) (16 ) Lease cost – other operating expense: $ 14 $ 18 $ 34 $ 41 The maturities of lease liabilities are as follows at December 31, 2024: Future Lease Maturities Total remaining lease payments $ 197 Less portion of payments representing interest (30 ) Present value of lease payments 167 Less current portion of lease payments (97 ) Non-current lease liability $ 70

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. 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 December 31, 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 December 31, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 477 $ 477 $ - $ - Investment in equity securities 4 4 - - Total $ 481 $ 481 $ - $ - Liabilities: April 2024 notes $ 1,176 $ - $ - $ 1,176 Earnout Shares liability 3,064 - - 3,064 Warrant liabilities 2,687 - 2,687 - Total $ 6,927 $ - $ 2,687 $ 4,240 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	6 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS The January Yorkville Consent and the Repayment of the April 2024 Notes On January 3, 2025, the Company entered into a consent and waiver (the “January Yorkville Consent”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement. The January Yorkville Consent, among other things, deferred the due date for the amounts that would otherwise have been due to Yorkville on January 1, 2025 to the maturity date and extended the maturity date to February 17, 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 Yorkville the remainder of the amount due on January 1, 2025. All remaining amounts due to Lind II ($176) and Yorkville ($1,000) under the April 2024 Notes were repaid on January 6, 2025, and February 7, 2025, respectively. The January 2025 Offering On January 31, 2025, the Company closed an underwritten registered direct offering (the “January 2025 Offering”), pursuant to the underwriting agreement, dated January 29, 2025, with Maxim Group LLC, as underwriter, pursuant to which the Company issued and sold 2,577,320 Common Shares, 2,577,320 Series A warrants to purchase up to 2,577,320 Common Shares (the “January 2025 Series A Warrants”) and 1,288,660 Series B warrants to purchase up to an additional 1,288,660 Common Shares (the “January 2025 Series B Warrants”). Each Common Share was sold together with one Series A Warrant and one-half of one Series B Warrant at a combined public offering price of $1.94. The gross proceeds from the January 2025 Offering were approximately $5,000 before deducting underwriting discounts and offering expenses. The January 2025 Series A Warrants have an exercise price of $1.98 per underlying Common Share, are exercisable immediately, and will expire on August 2, 2027. The January 2025 Series B Warrants have an exercise price of $ 2.05 The Company used a portion of the net proceeds from the January 2025 Offering to repay outstanding obligations under the April 2024 Notes and currently intends to use the remaining net proceeds for working capital and general corporate purposes, including to advance its efforts to launch construction of the Elk Creek Project and move it to commercial operations.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Dec. 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, 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 December 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, 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 In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU expand public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the Chief Operating Decision Maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The ASU will be effective for our annual report for the period ending June 30, 2025, and for interim period reports beginning thereafter. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for our annual report for the period ending June 30, 2027, and for interim period reports beginning thereafter. Early adoption is permitted and the amendments should be applied prospectively; however, retrospective application is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires the disclosure of additional information related to certain costs and expenses, including amounts of inventory purchases, employee compensation, and depreciation and amortization included in each income statement line item. This ASU also requires disclosure of the total amount of selling expenses and our definition of selling expenses. This ASU is effective for our annual report for the period ending June 30, 2028, and for interim period reports beginning thereafter on a prospective or retrospective basis. Early adoption is permitted. We are currently evaluating the impact of adopting this ASU on our consolidated financial statements and 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 April 2024 Notes, Earnout Shares, Private Warrants, November Public Warrants, and November Private 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 Ended December 31, For the Six Months Ended December 31, 2024 2023 2024 2023 Net loss $ (518 ) (3,387 ) $ (2,620 ) $ (6,774 ) Adjust: Net loss attributable to noncontrolling interest (68 ) (96 ) (99 ) (270 ) Net loss available to participating securities (450 ) (3,291 ) (2,521 ) (6,504 ) Net loss attributable to vested shares of ECRC Class B common stock (48 ) (321 ) (176 ) (580 ) Net loss attributed to common shareholders - basic and diluted $ (402 ) (2,970 ) $ (2,345 ) $ (5,924 ) Denominator: Weighted average shares outstanding – basic and diluted 41,168,372 33,255,557 39,764,858 32,555,092 Loss per Common Share outstanding – basic and diluted $ (0.01 ) (0.09 ) $ (0.06 ) $ (0.18 ) 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 and Six Months Excluded potentially dilutive securities (1) (2) 2024 2023 Options 3,068,000 938,000 Warrants (3) 26,740,515 19,032,421 Convertible debt - 2,089,860 Total potential dilutive securities 29,808,515 22,060,281 (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. (3) Includes 15,666,626 NioCorp Assumed Warrants that are each exercisable into 1.11829212 Common Shares and 11,073,889 Warrants that are each exercisable into one Common Share.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Dec. 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 December 31, For the Six Months Ended December 31, 2024 2023 2024 2023 Net loss $ (518 ) (3,387 ) $ (2,620 ) $ (6,774 ) Adjust: Net loss attributable to noncontrolling interest (68 ) (96 ) (99 ) (270 ) Net loss available to participating securities (450 ) (3,291 ) (2,521 ) (6,504 ) Net loss attributable to vested shares of ECRC Class B common stock (48 ) (321 ) (176 ) (580 ) Net loss attributed to common shareholders - basic and diluted $ (402 ) (2,970 ) $ (2,345 ) $ (5,924 ) Denominator: Weighted average shares outstanding – basic and diluted 41,168,372 33,255,557 39,764,858 32,555,092 Loss per Common Share outstanding – basic and diluted $ (0.01 ) (0.09 ) $ (0.06 ) $ (0.18 )
Schedule of excluded from the dilutive securities	Schedule of excluded from the dilutive securities For the Three and Six Months Excluded potentially dilutive securities (1) (2) 2024 2023 Options 3,068,000 938,000 Warrants (3) 26,740,515 19,032,421 Convertible debt - 2,089,860 Total potential dilutive securities 29,808,515 22,060,281 (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. (3) Includes 15,666,626 NioCorp Assumed Warrants that are each exercisable into 1.11829212 Common Shares and 11,073,889 Warrants that are each exercisable into one Common Share.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of account payable and accrued liabilities:	Schedule of account payable and accrued liabilities: As of December 31, 2024 June 30, Accounts payable, trade $ 2,243 $ 1,417 Trade payable accruals 261 350 Environmental accruals 48 48 Loan origination fees payable to related party - 28 Total accounts payable and accrued liabilities $ 2,552 $ 1,843

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
The change in the Convertible Debentures is presented below:	The change in the Convertible Debentures is presented below: For the Six Months Ended Balance at June 30, 2024 $ 571 Accretion expense 43 Principal and interest converted (614 ) Balance, December 31, 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 Ended For the Six Months Ended Component of Interest Expense 2024 2023 2024 2023 Contractual interest $ - $ 91 $ 1 $ 221 Amortization of discount and issuance costs - 1,085 42 3,030 Total $ - $ 1,176 $ 43 $ 3,251
The change in the April 2024 Notes is presented below:	The change in the April 2024 Notes is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 7,089 Principal payments (5,953 ) Change in fair value 40 Balance, December 31, 2024 $ 1,176 Remaining Principal Balance, December 31, 2024 $ 1,176
The change in the April 2024 Warrant liability is presented below:	The change in the April 2024 Warrant liability is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 298 Change in fair value (86 ) Fair value at December 31, 2024 $ 212

CLASS B COMMON STOCK OF ECRC (T

CLASS B COMMON STOCK OF ECRC (Tables)	6 Months Ended
	Dec. 31, 2024
Class B Common Stock Of Ecrc
The Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs:	The Earnout Shares were valued utilizing a Monte Carlo Simulation pricing model with the following primary inputs: Key Valuation Input December 31, June 30, Closing Common Share price $1.55 $1.73 Term (expiry) March 17, 2033 March 17, 2033 Implied volatility of Public Warrants 64.0% 65.0% Risk-free rate 4.52% 4.35%
The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the six-month period ended December 31, 2024:	The following table sets forth a summary of the changes in the fair value of the Earnout Shares liability for the six-month period ended December 31, 2024: For the Six Months Ended Fair value at June 30, 2024 $ 3,817 Change in fair value (753 ) Fair value at December 31, 2024 $ 3,064

COMMON SHARES (Tables)

COMMON SHARES (Tables)	6 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Black-Scholes model used in valuing the November Public Warrants and November Private Warrants	Schedule of Black-Scholes model used in valuing the November Public Warrants and November Private Warrants Series A Public Warrants Series B Public Warrants Key Valuation Input December 31, 2024 November 5, 2024 December 31, 2024 November 5, 2024 Closing Common Share price $ 1.55 $ 1.455 $ 1.55 $ 1.455 Term (years) 4.5 4.5 1.85 2.0 Historic equity volatility 67.98 % 67.43 % 70.84 % 67.13 % Risk-free rate 4.36 % 4.14 % 4.25 % 4.20 % Series A Private Warrants Series B Private Warrants Key Valuation Input December 31, 2024 November 13, 2024 December 31, 2024 November 13, 2024 Closing Common Share price $ 1.55 $ 1.49 $ 1.55 $ 1.49 Term (years) 4.5 4.5 1.87 2.0 Historic equity volatility 67.98 % 67.52 % 70.47 % 67.26 % Risk-free rate 4.36 % 4.30 % 4.25 % 4.20 %
The following table sets forth a summary of the changes in the fair value of the November Private Warrants liabilities.	The following table sets forth a summary of the changes in the fair value of the November Private Warrants liabilities. November Private Warrants Fair value at issuance $ 1,929 Change in fair value 152 Fair value as of December 31, 2024 $ 2,081
The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the six months ended December 31, 2024:	The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the six months ended December 31, 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 November 18, 2024 115,000 158 167 9 November 21, 2024 110,000 147 150 3 November 27, 2024 105,000 137 138 1 December 6, 2024 110,000 155 187 32 December 11, 2024 141,000 219 212 (7 ) December 16, 2024 120,000 168 166 (2 ) December 20, 2024 110,000 149 154 5
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 935,000 1.40 Exercised - - Cancelled/expired (362,500 ) 9.35 Balance, December 31, 2024 3,068,000 $ 3.17 $ 140 3.89
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 8,624,272 2.00 Exercised - - Expired (447,318 ) 8.94 Balance, December 31, 2024 26,740,515 $ 7.81
At December 31, 2024, the Company had outstanding exercisable Warrants, as follows:	At December 31, 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 1,672,090 $1.75 November 5, 2026 2,199,602 $1.75 November 13, 2026 615,385 $3.25 April 12, 2027 15,666,626 $11.50 March 17, 2028 2,816,742 $2.31 September 17, 2028 836,045 $2.07 November 5, 2029 1,099,793 $2.07 November 13, 2029 26,740,515
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 December 31, June 30, Closing Common Share price $ 1.55 $ 1.73 Strike price $ 11.50 $ 11.50 Implied volatility of Public Warrants 62.5 % 69.0 % Risk free rate 4.35 % 4.45 % Dividend yield 0 % 0 % Expected warrant life in years 3.2 3.7
The change in the Private Warrants liability is presented below:	The change in the Private Warrants liability is presented below: For the Six Months Ended Fair value at June 30, 2024 $ 1,353 Change in fair value (960 ) Fair value at December 31, 2024 $ 393
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)	6 Months Ended
	Dec. 31, 2024
Exploration Expenditures
Schedule of exploration expenditures	Schedule of exploration expenditures For the Three Months Ended December 31, For the Six Months 2024 2023 2024 2023 Technical studies and engineering $ 4 $ 97 $ 4 $ 297 Field management and other 210 147 301 282 Metallurgical development 47 584 94 1,330 Geologists and field staff - - - 19 Total $ 261 $ 828 $ 399 $ 1,928

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2024
Leases
The Company incurred lease costs as follows:	The Company incurred lease costs as follows: For the Three Months Ended December 31, For the Six Months Operating Lease Cost: 2024 2023 2024 2023 Fixed rent expense $ 23 $ 23 $ 46 $ 45 Variable rent expense 4 3 7 7 Short-term lease cost 2 2 5 5 Sublease income (15 ) (10 ) (24 ) (16 ) Lease cost – other operating expense: $ 14 $ 18 $ 34 $ 41
The maturities of lease liabilities are as follows at December 31, 2024:	The maturities of lease liabilities are as follows at December 31, 2024: Future Lease Maturities Total remaining lease payments $ 197 Less portion of payments representing interest (30 ) Present value of lease payments 167 Less current portion of lease payments (97 ) Non-current lease liability $ 70

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 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 December 31, 2024 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 477 $ 477 $ - $ - Investment in equity securities 4 4 - - Total $ 481 $ 481 $ - $ - Liabilities: April 2024 notes $ 1,176 $ - $ - $ 1,176 Earnout Shares liability 3,064 - - 3,064 Warrant liabilities 2,687 - 2,687 - Total $ 6,927 $ - $ 2,687 $ 4,240 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)	6 Months Ended
	Dec. 31, 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		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (518)	$ (3,387)	$ (2,620)	$ (6,774)
Net Income (Loss) Attributable to Noncontrolling Interest	(68)	(96)	(99)	(270)
Net loss available to participating securities	(450)	(3,291)	(2,521)	(6,504)
Less: Net loss attributable to vested shares of ECRC Class B common stock	(48)	(321)	(176)	(580)
Net loss attributable to vested shares of ECRC Class B common stock	$ (402)	$ (2,970)	$ (2,345)	$ (5,924)
Weighted average shares outstanding basic and diluted	41,168,372	33,255,557	39,764,858	32,555,092
Loss per common share outstanding basic and diluted	$ (0.01)	$ (0.09)	$ (0.06)	$ (0.18)

Schedule of excluded from the d

Schedule of excluded from the dilutive securities (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Options	[1],[2]	3,068,000	938,000	3,068,000	938,000
Warrants	[1],[2],[3]	26,740,515	19,032,421	26,740,515	19,032,421
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	[1],[2]	0	2,089,860	0	2,089,860
Total potential dilutive securities	[1],[2]	$ 29,808,515	$ 22,060,281	$ 29,808,515	$ 22,060,281
[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.[3]Includes 15,666,626 NioCorp Assumed Warrants that are each exercisable into 1.11829212 Common Shares and 11,073,889 Warrants that are each exercisable into one Common Share.

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 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	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (2,620)	$ (6,774)
Capital deficit	3,087
Accumulated deficit	164,433		$ 161,912
Cash	$ 477		$ 2,012

Schedule of account payable and

Schedule of account payable and accrued liabilities: (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts payable, trade	$ 2,243	$ 1,417
Trade payable accruals	261	350
Environmental accruals	48	48
Loan origination fees payable to related party		28
Total accounts payable and accrued liabilities	$ 2,552	$ 1,843

The change in the Convertible D

The change in the Convertible Debentures is presented below: (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Balance at June 30, 2024	$ 571
Accretion expense	43
Principal and interest converted	(614)
Balance, December 31, 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		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Contractual interest		$ 91	$ 1	$ 221
Amortization of discount and issuance costs		1,085	42	3,030
Total		$ 1,176	$ 44	$ 3,251

The change in the April 2024 No

The change in the April 2024 Notes is presented below: (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Fair value at June 30, 2024	$ 7,089
Principal payments	(5,953)
Change in fair value	40
Fair value at December 31, 2024	1,176
Remaining Principal Balance, December 31, 2024	$ 1,176

The change in the April 2024 Wa

The change in the April 2024 Warrant liability is presented below: (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at June 30, 2024	$ 3,817
Change in fair value	144	$ 102
Fair value at December 31, 2024	3,064
Earnout [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value at June 30, 2024	298
Change in fair value	(86)
Fair value at December 31, 2024	$ 212

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($) $ in Thousands				6 Months Ended
	Sep. 17, 2024	Jul. 19, 2024	Apr. 12, 2024	Dec. 31, 2024
Debt Instrument [Line Items]
Number of shares	2,816,742
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%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Shares exchange		$ 554
Aggregate principal amount			$ 8,000

The Earnout Shares were valued

The 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	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price	$ 1.55	$ 1.73
Term (expiry)	Mar. 17, 2033	Mar. 17, 2033
Implied volatility of public warrants	64%	65%
Risk-free rate	4.52%	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 six-month period ended December 31, 2024: (Details) - Earnout [Member] $ in Thousands	6 Months Ended
	Dec. 31, 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	(753)
Fair value at December 31, 2024	$ 3,064

CLASS B COMMON STOCK OF ECRC (D

CLASS B COMMON STOCK OF ECRC (Details Narrative) - shares	Dec. 31, 2024	Dec. 20, 2024	Dec. 12, 2024	Jun. 30, 2024
Class B Common Stock Of Ecrc
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number		323,085	25,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	3,068,000			2,495,500

Schedule of Black-Scholes model

Schedule of Black-Scholes model used in valuing the November Public Warrants and November Private Warrants (Details) - $ / shares			6 Months Ended
	Nov. 13, 2024	Nov. 05, 2024	Dec. 31, 2024
Series A Public Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Closing common share price		$ 1.455	$ 1.55
Term (years)		4 years 6 months	4 years 6 months
Historic equity volatility		67.43%	67.98%
Risk-free rate		4.14%	4.36%
Series B Public Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Closing common share price		$ 1.455	$ 1.55
Term (years)		2 years	1 year 10 months 6 days
Historic equity volatility		67.13%	70.84%
Risk-free rate		4.20%	4.25%
Series A Private Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Closing common share price	$ 1.49		$ 1.55
Term (years)	4 years 6 months		4 years 6 months
Historic equity volatility	67.52%		67.98%
Risk-free rate	4.30%		4.36%
Series B Private Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Closing common share price	$ 1.49		$ 1.55
Term (years)	2 years		1 year 10 months 6 days
Historic equity volatility	67.26%		70.47%
Risk-free rate	4.20%		4.25%

The following table sets fort_3

The following table sets forth a summary of the changes in the fair value of the November Private Warrants liabilities. (Details) - November Private Warrantsliabilities [Member] $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Subsidiary, Sale of Stock [Line Items]
Beginning balance	$ 1,929
Change in fair value	152
Ending balance	$ 2,081

The Company issued the followin

The Company issued the following Common Shares under the Yorkville Equity Facility Financing Agreement during the six months ended December 31, 2024: (Details) - USD ($) $ in Thousands	Dec. 20, 2024	Dec. 16, 2024	Dec. 11, 2024	Dec. 06, 2024	Nov. 27, 2024	Nov. 21, 2024	Nov. 18, 2024	Sep. 25, 2024	Sep. 19, 2024	Sep. 16, 2024	Sep. 06, 2024	Sep. 03, 2024	Aug. 28, 2024
Equity [Abstract]
Common shares issued	110,000	120,000	141,000	110,000	105,000	110,000	115,000	60,000	49,750	72,000	71,500	71,000	75,000
Gross funds received	$ 149	$ 168	$ 219	$ 155	$ 137	$ 147	$ 158	$ 101	$ 85	$ 124	$ 118	$ 124	$ 140
Market Value of Shares Issued	154	166	212	187	138	150	167	108	85	124	118	123	133
(Gain)/Loss on Issuance	$ 5	$ (2)	$ (7)	$ 32	$ 1	$ 3	$ 9	$ 7				$ (1)	$ (7)

Schedule of stock option (Detai

Schedule of stock option (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Equity [Abstract]
Beginning balance | shares	2,495,500
Beginning balance | $ / shares	$ 4.78
Granted | shares	935,000
Granted | $ / shares	$ 1.40
Exercised | shares
Exercised | $ / shares
Cancelled/expired | shares	(362,500)
Cancelled/expired | $ / shares	$ 9.35
Ending balance | shares	3,068,000
Ending balance | $ / shares	$ 3.17
Aggregate intrinsic value | $	$ 140
Weighted average remaining contractual life	3 years 10 months 20 days

Schedule of warrant transaction

Schedule of warrant transactions (Details)	6 Months Ended
	Dec. 31, 2024 $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	26,740,515
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	18,563,561
Beginning balance | $ / shares	$ 10.53
Granted	8,624,272
Granted | $ / shares	$ 2
Exercised
Exercised
Expired	(447,318)
Expired | $ / shares	$ 8.94
Ending balance	26,740,515
Ending balance | $ / shares	$ 7.81

At December 31, 2024, the Compa

At December 31, 2024, the Company had outstanding exercisable Warrants, as follows: (Details)	Dec. 31, 2024 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	26,740,515
Exercise Price9.70 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	855,800
Expiry date	Feb. 19, 2025
Exercise Price9.70 [Member] | Canada, Dollars
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price | $ / shares	$ 9.70
Exercise Price4.60 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	250,000
Exercise price | $ / shares	$ 4.60
Expiry date	Sep. 01, 2025
Exercise Price3.54 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	413,432
Exercise price | $ / shares	$ 3.54
Expiry date	Dec. 22, 2025
Exercise Price2.20 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	315,000
Exercise price | $ / shares	$ 2.20
Expiry date	Jun. 24, 2026
Exercise Price1.75 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	1,672,090
Exercise price | $ / shares	$ 1.75
Expiry date	Nov. 05, 2026
Exercise Price1.75 One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	2,199,602
Expiry date	Nov. 13, 2026
Exercise Price3.25 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	615,385
Exercise price | $ / shares	$ 3.25
Expiry date	Apr. 12, 2027
Exercise Price11.50 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	15,666,626
Exercise price | $ / shares	$ 11.50
Expiry date	Mar. 17, 2028
Exercise Price2.31 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	2,816,742
Exercise price | $ / shares	$ 2.31
Expiry date	Sep. 17, 2028
Exercise Price2.07 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	836,045
Exercise price | $ / shares	$ 2.07
Expiry date	Nov. 05, 2029
Exercise Price2.07 One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of share outstanding	1,099,793
Expiry date	Nov. 13, 2029

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	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Platform Operator, Crypto Asset [Line Items]
Stock price on valuation date	$ 1.55	$ 1.73
Strike price	$ 11.50	$ 11.50
Implied volatility of public warrants	62.50%	69%
Risk free rate	4.35%	4.45%
Dividend yield	0%	0%
Expected warrant life in years	3 years 2 months 12 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	6 Months Ended
	Dec. 31, 2024 USD ($)
Subsidiary, Sale of Stock [Line Items]
Beginning balance	$ 1,353
Change in fair value	(960)
Ending balance	$ 393

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) - Measurement Input, Exercise Price [Member] - Black Scholes Valuation [Member]	Sep. 17, 2024 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Closing common share price	$ 1.74
Term (years)	4 years
Historic equity volatility	67.14%
Risk-free rate	3.44%

COMMON SHARES (Details Narrativ

COMMON SHARES (Details Narrative)							6 Months Ended
	Dec. 23, 2024 USD ($) shares	Dec. 23, 2024 $ / shares	Nov. 13, 2024 shares	Nov. 05, 2024	Nov. 04, 2024 shares	Sep. 17, 2024 USD ($) shares	Dec. 31, 2024 USD ($) $ / shares shares	Nov. 30, 2024 USD ($)	Sep. 17, 2024 $ / shares	Jun. 30, 2024 $ / shares
Subsidiary, Sale of Stock [Line Items]
Description of warrants			On November 13, 2024, the Company closed a non-brokered private placement (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 “November 2024 Units”). Each November 2024 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” and, together with the Series A Private Warrants, the “November Private Warrants”). Each November 2024 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 (the “Insider Investors”) purchased November 2024 Units at a price of $1.7675 per November 2024 Unit, which price includes $0.1975 per November 2024 Unit and allowed such directors and officers to participate in the November 2024 Private Offering in accordance with the rules of the Nasdaq Stock Market LLC (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. The Series B Private 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 13, 2029. The Company recorded a non-cash expense of $34 and $110 to other operating expense and employee related costs, respectively, representing the excess of fair value of the November 2024 Units over the purchase price paid by Insider Investors.	On November 5, 2024, the Company closed an underwritten public offering (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 $2,501 before deducting underwriting discounts and offering expenses. The November Public Warrants were classified as equity instruments and accordingly, the net proceeds were allocated based on the relative fair values of the Common Shares and the November Public Warrants on the date of issuance, with $943 allocated to the fair value of the November Public Warrants and the balance of the proceeds of $1,558 allocated to Common Shares. The Company incurred total transaction costs related to the November 2024 Registered Offering $1,226, which were treated as share issuance costs at closing. The Series A PublicWarrants 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 November 4, 2024, the Underwriter partially exercised its over-allotment option to purchase 79,734 additional Series A Public Warrants and 39,867 additional Series B Public Warrants, which amounts are included in the amounts, discussed above, issued at closing of the November 2024 Registered Offering.
Fair value of non operating gain/loss | $							$ 1,928,000
Registered Offering | $								$ 161,000
Private Offering | $								$ 60,000
Debt Instrument, Face Amount | $							$ 57,443,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross							935,000
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
G X I I Private Warrants [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants traded prior to the closing							5,666,667
Lind Consent Warrant Issuance [Member]
Subsidiary, Sale of Stock [Line Items]
Common share exercise price, per share | $ / shares									$ 2.308
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | $						$ 5,000
Equity Option [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	935,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 0.84
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.44%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	67.20%
Other Expenses | $	$ 781,000
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Remaining proceeds from private warrants | $							$ 1,573,000
Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
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).
Warrants traded prior to the closing							15,666,626
Warrants traded prior to the closing							9,999,959
Common share exercise price, per share | $ / shares							$ 7.81			$ 10.53
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issue			2,199,602
Purchase Agreement Series A [Member]
Subsidiary, Sale of Stock [Line Items]
Debt Instrument Issued Principal shares					79,734
Purchase Agreement Series B [Member]
Subsidiary, Sale of Stock [Line Items]
Debt Instrument Issued Principal shares					39,867

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Oct. 30, 2024	Sep. 11, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Other Borrowings	$ 504
Origination fees			$ 772	$ 952	$ 1,222	$ 2,139
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Origination fees	$ 41				0
Accounts payable and accrued liabilities			$ 0		$ 0
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		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Exploration expenditures	$ 261	$ 828	$ 399	$ 1,928
Technical Studies And Engineering [Member]
Exploration expenditures	4	97	4	297
Field management and other [Member]
Exploration expenditures	210	147	301	282
Metallurgical development [Member]
Exploration expenditures	47	584	94	1,330
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		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Operating Lease Cost:
Fixed rent expense	$ 23	$ 23	$ 46	$ 45
Variable rent expense	4	3	7	7
Short-term lease cost	2	2	5	5
Sublease income	(15)	(10)	(24)	(16)
Lease cost – other operating expense:	$ 14	$ 18	$ 34	$ 41

The maturities of lease liabili

The maturities of lease liabilities are as follows at December 31, 2024: (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Leases
Total remaining lease payments	$ 197
Less portion of payments representing interest	(30)
Present value of lease payments	167
Less current portion of lease payments	(97)	$ (96)
Non-current lease liability	$ 70	$ 104

Schedule of fair values determi

Schedule of fair values determined by level 3 inputs are unobservable data (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 477	$ 2,012
Investment in equity securities	4	4
Total Assets	481	2,016
April 2024 notes	1,176	7,089
Earnout Shares liability	3,064	3,817
Warrant liabilities	2,687	4,016
Total Liabilities	6,927	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	477	2,012
Investment in equity securities	4	4
Total Assets	481	2,016
April 2024 notes
Earnout Shares liability
Warrant liabilities
Total Liabilities
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 Assets
April 2024 notes
Earnout Shares liability
Warrant liabilities	2,687	1,651
Total Liabilities	2,687	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
Investment in equity securities
Total Assets
April 2024 notes	1,176	7,089
Earnout Shares liability	3,064	3,817
Warrant liabilities		2,365
Total Liabilities	$ 4,240	$ 13,271

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - $ / shares	Jan. 31, 2025	Jan. 31, 2025	Jan. 03, 2025
Subsequent Event [Line Items]
Subsequent event, description		On January 31, 2025, the Company closed an underwritten registered direct offering (the “January 2025 Offering”), pursuant to the underwriting agreement, dated January 29, 2025, with Maxim Group LLC, as underwriter, pursuant to which the Company issued and sold 2,577,320 Common Shares, 2,577,320 Series A warrants to purchase up to 2,577,320 Common Shares (the “January 2025 Series A Warrants”) and 1,288,660 Series B warrants to purchase up to an additional 1,288,660 Common Shares (the “January 2025 Series B Warrants”). Each Common Share was sold together with one Series A Warrant and one-half of one Series B Warrant at a combined public offering price of $1.94. The gross proceeds from the January 2025 Offering were approximately $5,000 before deducting underwriting discounts and offering expenses. The January 2025 Series A Warrants have an exercise price of $1.98 per underlying Common Share, are exercisable immediately, and will expire on August 2, 2027. The January 2025 Series B Warrants have an exercise price of $2.05 per underlying Common Share, are exercisable immediately, and will expire on January 31, 2029.	On January 3, 2025, the Company entered into a consent and waiver (the “January Yorkville Consent”) to the April 2024 Notes issued and sold to Yorkville pursuant to the April 2024 Purchase Agreement. The January Yorkville Consent, among other things, deferred the due date for the amounts that would otherwise have been due to Yorkville on January 1, 2025 to the maturity date and extended the maturity date to February 17, 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 Yorkville the remainder of the amount due on January 1, 2025. All remaining amounts due to Lind II ($176) and Yorkville ($1,000) under the April 2024 Notes were repaid on January 6, 2025, and February 7, 2025, respectively.
Exercise price	$ 2.05