NioCorp Developments (NB) 10-Q 9 Nov 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Nov. 09, 2017
Document And Entity Information
Entity Registrant Name	NIOCORP DEVELOPMENTS LTD
Entity Central Index Key	1,512,228
Document Type	10-Q
Trading Symbol	NIOBF
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		205,281,674
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Current
Cash	$ 317	$ 238
Restricted cash		265
Prepaid expenses and other	98	152
Other current assets	289
Total current assets	704	655
Non-current
Deposits	36	51
Available for sale securities at fair value	13	23
Equipment	3	5
Mineral interests	10,617	10,617
Total assets	11,373	11,351
Current
Accounts payable and accrued liabilities	2,691	3,146
Related party loans	1,175	1,175
Convertible debt, current portion	572	2,161
Total current liabilities	4,438	6,482
Convertible debt, net of current portion	2,606	1,896
Derivative liability, convertible debt	16	82
Total liabilities	7,060	8,460
SHAREHOLDERS' EQUITY
Common stock, unlimited shares authorized; shares outstanding: 204,518,956 and 198,776,337, respectively	70,993	68,029
Additional paid-in capital	10,876	10,320
Accumulated deficit	(76,665)	(74,852)
Accumulated other comprehensive loss	(891)	(606)
Total equity	4,313	2,891
Total liabilities and equity	$ 11,373	$ 11,351

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - shares	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Statement of Financial Position [Abstract]
Common stock, authorized	Unlimited	Unlimited
Common stock, outstanding	204,518,956	198,776,337

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating expenses
Employee related costs	$ 772	$ 540
Professional fees	275	333
Exploration expenditures	713	1,970
Other operating expenses	172	137
Total operating expenses	1,932	2,980
Change in financial instrument fair value	23	(296)
Foreign exchange (gain) loss	(237)	33
Interest expense	84	69
Gain (loss) on available for sale securities	11	(11)
Loss before income taxes	1,813	2,775
Income tax benefit
Net loss	1,813	2,775
Other comprehensive loss:
Net loss	1,813	2,775
Other comprehensive loss (gain):
Reporting currency translation	285	(66)
Total comprehensive loss	$ 2,098	$ 2,709
Loss per common share, basic (in dollars per share)	$ 0.01	$ 0.02
Weighted average common shares outstanding (in shares)	202,023,001	180,530,068

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Total loss for the period	$ (1,813)	$ (2,775)	$ (14,630)
Non-cash elements included in net loss:
Depreciation	2	2
Change in financial instrument fair value	23	(296)
Unrealized gain (loss) on available-for-sale investments	11	(11)
Accretion of convertible debt	36	46
Foreign exchange (gain) loss	(227)	124
Share-based compensation	451	218
Subtotal	(1,517)	(2,692)
Change in working capital items:
Receivables	8
Prepaid expenses	52	34
Accounts payable and accrued liabilities	(322)	411
Net cash used in operating activities	(1,779)	(2,247)
CASH FLOWS FROM INVESTING ACTIVITIES
Restricted cash funding		(500)
Deposits	15
Net cash used in investing activities	15	(500)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of capital stock	1,545	64
Share issue costs	(189)
Issuance of convertible debt	500
Other current assets	(289)
Net cash provided by financing activities	1,567	64
Exchange rate effect on cash, cash equivalents and restricted cash	11	(5)
Change in cash, cash equivalents and restricted cash during period	(186)	(2,688)
Cash, cash equivalents and restricted cash, beginning of period	503	4,412	4,412
Cash, cash equivalents and restricted cash, end of period	317	1,724	$ 503
Supplemental cash flow information:
Amounts paid for interest	16	16
Amounts paid for income taxes
Non-cash financing transactions
Lind conversions	1,441
Debt to equity conversion	$ 207

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance, beginning at Jun. 30, 2016	$ 58,401	$ 8,630	$ (60,222)	$ (615)	$ 6,194
Balance, beginning (in shares) at Jun. 30, 2016	180,467,990
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants	$ 1,675				1,675
Exercise of warrants (in shares)	3,447,137
Exercise of options	$ 70				70
Exercise of options (in shares)	150,000
Fair value of broker warrants granted		20			20
Fair value of Lind Warrants granted		233			233
Private placement - February 2017	$ 3,927				3,927
Private placement - February 2017 (in shares)	7,364,789
Debt conversions	$ 4,103				4,103
Debt conversions (in shares)	7,346,421
Share issuance costs	$ (181)				(181)
Fair value of stock options exercised	34	(34)
Share-based payments		1,471			1,471
Reporting currency presentation				9	9
Loss for the period			(14,630)		(14,630)
Balance, ending at Jun. 30, 2017	$ 68,029	10,320	(74,852)	(606)	$ 2,891
Balance, ending (in shares) at Jun. 30, 2017	198,776,337				198,776,337
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of options	$ 5				$ 5
Exercise of options (in shares)	10,091				10,091
Fair value of broker warrants granted		41			$ 41
Fair value of Lind Warrants granted		66			66
Private placements - July 2017	$ 1,540				1,540
Private placements - July 2017 (in shares)	2,962,500
Private placement - September 2017	$ 207				207
Private placement - September 2017 (in shares)	415,747
Debt conversions	$ 1,441				1,441
Debt conversions (in shares)	2,354,281
Share issuance costs	$ (231)				(231)
Fair value of stock options exercised	2	(2)
Share-based payments		451			451
Reporting currency presentation				(285)	(285)
Loss for the period			(1,813)		(1,813)
Balance, ending at Sep. 30, 2017	$ 70,993	$ 10,876	$ (76,665)	$ (891)	$ 4,313
Balance, ending (in shares) at Sep. 30, 2017	204,518,956				204,518,956

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“NioCorp” or the “Company”) was incorporated on February 27, 1987 under the laws of the Province of British Columbia and currently operates in one reportable operating segment consisting of exploration and development of mineral deposits in North America, specifically, the Elk Creek Niobium/Scandium/Titanium property (the “Elk Creek Project”) located in southeastern Nebraska. These 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. The Company’s ability to continue as a going concern is uncertain and is dependent upon the generation of profits from mineral properties, obtaining additional financing, and maintaining continued support from its shareholders and creditors.

BASIS OF PREPARATION

BASIS OF PREPARATION	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PREPARATION	2. BASIS OF PREPARATION a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“US 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, 2017. In the opinion of Management, all adjustments considered necessary (including reclassifications and normal recurring adjustments) to present fairly the financial position, results of operations, and cash flows at September 30, 2017, 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 US 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, 2017. The interim results are not necessarily indicative of results for the full year ending June 30, 2018, or future operating periods. b) Recent Accounting Standards Issued and Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require, among other things, that all income tax effects of awards be recognized in the income statement when the awards vest or are settled. The ASU also allows for an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting, and it allows for a policy election to account for forfeitures as they occur. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. We adopted this guidance during the quarter ended September 30, 2017. The adoption of this ASU had no material impacts on our financial statement results or disclosures. Issued and Not Effective From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires that a lessee recognize on the balance sheet assets and liabilities for leases with lease terms of more than twelve months. The recognition, measurement, and presentation of expenses and cash flows arising from a lease have not significantly changed from the previous US GAAP. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within such fiscal year, with early adoption permitted. The Company is currently assessing the impact, if any, of implementing this guidance on its consolidated financial position, results of operations, and liquidity. c) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, convertible debt valuations, and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected.

GOING CONCERN ISSUES

GOING CONCERN ISSUES	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN ISSUES	3. GOING CONCERN ISSUES The Company incurred a loss of $1,813 for the three months ended September 30, 2017 (2016 - $2,775), and had a working capital deficit and an accumulated deficit of $3,734 and $76,665, respectively, as of September 30, 2017. These factors indicate the existence of a material uncertainty that raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue operations and fund its expenditures is dependent on Management’s ability to secure additional financing. Management is actively pursuing such 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. These consolidated financial statements do not give effect to any adjustments required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying financial statements.

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
RESTRICTED CASH	4. RESTRICTED CASH Restricted cash represents amounts held in escrow to secure payment of work related to the Company’s Elk Creek Feasibility Study. Under the terms of the escrow agreement, the balance of $265 was drawn against outstanding accounts payable during the quarter ended September 30, 2017.

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	3 Months Ended
	Sep. 30, 2017
Other Current Assets
OTHER CURRENT ASSETS	5. OTHER CURRENT ASSETS Other current assets include legal and other professional fees associated with obtaining project debt financing for the Elk Creek Project. Amounts will be deferred until funding is completed, at which time the balance will become a direct deduction from the related debt liability.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
CONVERTIBLE DEBT	6. CONVERTIBLE DEBT As of September 30, June 30, Convertible security, current portion $ 572 $ 2,161 Convertible notes $ 628 $ 592 Convertible security 1,978 1,304 $ 2,606 $ 1,896 Convertible Security Funding Changes in the Lind Partners Asset Management IV, LLC (“Lind”) convertible security (the “Convertible Security”) balance are comprised of the following: Convertible Security Balance, June 30, 2017 $ 3,465 Additional debt drawdown 500 Conversions, at fair value (1,441 ) Change in fair market value 26 Balance, September 30, 2017 $ 2,550 Comprised of: Current portion $ 572 Noncurrent portion 1,978 Total $ 2,550 On August 10, 2017, Lind provided notice to the Company of its election to advance an additional $1.0 million in funding under the Initial Convertible Security pursuant to its right under the Lind Agreement (the “Convertible Security Increase”). As a result, upon payment of the additional $1.0 million in funding by Lind to the Company, the face amount of the Initial Convertible Security will be increased by $1.2 million ($1.0 million in additional funding plus implied interest). On August 15, 2017, in connection with the Convertible Security Increase, the Company issued 260,483 Common Share purchase warrants of the Company to Lind, with each Common Share purchase warrant entitling the holder to acquire one Common Share at a price of C$0.73 per share until August 15, 2020. The fair value of the warrants of $33 was estimated based on the Black Scholes pricing model using a risk-free interest rate of 1.23%, an expected dividend yield of 0%, a volatility of 49.6%, and an expected life of three years. On September 28, 2017, in connection with the Convertible Security Increase, the Company issued 283,413 Common Share purchase warrants of the Company to Lind, with each Common Share purchase warrant entitling the holder to acquire one Common Share at a price of C$0.66 per share until September 28, 2020. The fair value of the warrants of $32 was estimated based on the Black Scholes pricing model using a risk-free interest rate of 1.23%, an expected dividend yield of 0%, a volatility of 47.7%, and an expected life of three years. As of September 30, 2017, $0.5 million of this additional funding has been received from Lind. The Convertible Security is convertible into Common Shares of the Company at a conversion price equal to 85% of the volume weighted average trading price of the Common Shares (in Canadian dollars) on the TSX for the five consecutive trading days immediately prior to the date on which the Lind provides the Company with notice of its intention to convert an amount of the Convertible Security from time to time. During the three-month period ended September 30, 2017, $1.0 million face value of the Convertible Security was converted into 2,354,281 Common Shares. The Convertible Security contains financial and non-financial covenants customary for a facility of this size and nature, and includes a financial covenant defining an event of default as all present and future liabilities of the Company or any of its subsidiaries, exclusive of related party loans, for an amount or amounts exceeding $2.0 million, and which have not been satisfied on time or within 90 days of invoice, or have become prematurely payable as a result of its default or breach. The Company was in compliance as of September 30, 2017. Convertible Notes Changes in the Company’s outstanding convertible promissory notes (the “Convertible Notes”) balance are comprised of the following: Convertible Notes Balance, June 30, 2017 $ 592 Accreted interest, net of interest paid 36 Balance, September 30, 2017 $ 628 The changes in the derivative liability related to the conversion feature are as follows: Derivative Liability Balance, June 30, 2017 $ 82 Change in fair value of derivative liability (66 ) Balance, September 30, 2017 $ 16

COMMON STOCK

COMMON STOCK	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
COMMON STOCK	7. COMMON STOCK a) Issuances On July 26, 2017, the Company closed a brokered private placement (the “July 2017 Private Placement”) of units (the “Units”) of the Company. Under the July 2017 Private Placement, a total of 2,962,500 Units were issued at C$0.65 per Unit, for total gross proceeds to the Company of approximately C$1,926. Each Unit issued pursuant to the July 2017 Private Placement consists of one Common Share and Warrant. Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.79 until July 26, 2021. The July 2017 Private Placement was brokered by Mackie Research Capital Corporation (the “Agent”). The Company paid the Agent an aggregate cash commission of approximately C$125, equal to six and a half per cent (6.5%) of the gross proceeds raised under the July 2017 Private Placement. The Company also issued to the Agent 192,562 broker warrants (the “Broker Warrants”), equal to six and a half per cent (6.5%) of the Units sold pursuant to the July 2017 Private Placement. Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.79 until July 26, 2021. The fair value of the Broker Warrants of $41 was estimated based on the Black Scholes pricing model using a risk-free interest rate of 1.32%, an expected dividend yield of 0%, a volatility of 60.3%, and an expected life of four years. Total cash issue costs including agents’ commission, legal and other fees was $189. Proceeds of the July 2017 Private Placement were used for general working capital purposes and to continue to advance the Company’s Elk Creek Superalloy Materials Project. On September 5, 2017, the Company entered into a shares-for-debt agreement with Northcott Capital Limited (“Northcott”) whereby NioCorp issued 415,747 common shares of the Company to settle a debt of C$253,606 owed to Northcott for past and prospective services through December 2017. Northcott manages NioCorp’s current effort to assemble a debt financing package as part of the Company’s overall Elk Creek project financing effort. The shares issued to Northcott were priced at C$0.61, which represents a 10% premium over the five-day Volume Weighted Average Price of NioCorp’s shares of C$0.5571 as of the date of the agreement. b) Stock Options The Company has a rolling stock option plan (the “Plan”) whereby the Company may grant stock options to executive officers and directors, employees, and consultants at an exercise price to be determined by the board of directors, provided the exercise price is not lower than the greater of (i) the last closing price of the Company’s common shares on the TSX and (ii) the volume weighted average closing price of the Company’s common shares on the TSX for the five days immediately prior to the date of grant. The Plan provides for the issuance of up to 10% of the Company’s issued Common Shares as at the date of grant with each stock option having a maximum term of ten years. The board of directors has the exclusive power over the granting of options and their vesting provisions. Stock option transactions are summarized as follows: Number of Weighted Average Exercise Price (C$) Balance, June 30, 2017 16,605,000 $ 0.73 Exercised (10,091 ) 0.62 Cancelled/expired (1,750,000 ) 0.68 Balance, September 30, 2017 14,844,909 $ 0.73 The following table summarizes information about stock options outstanding at September 30, 2017: Exercise Expiry date Number outstanding Aggregate Number exercisable Aggregate $ 0.62 January 19, 2021 5,264,909 $ — 5,264,909 $ — $ 0.76 March 7, 2022 5,650,000 — 2,825,000 — $ 0.80 December 22, 2017 2,720,000 — 2,720,000 — $ 0.94 April 28, 2018 500,000 — 500,000 — $ 0.94 July 21, 2021 710,000 — 532,500 — Balance September 30, 2017 14,844,909 $ — 11,842,409 $ — The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing stock price of C$0.52 as of September 30, 2017, that would have been received by the option holders had all option holders exercised their options as of that date. In-the-money options vested and exercisable as of September 30, 2017, totaled -nil-. As of September 30, 2017, there was $430 of unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Plan. The cost is expected to be recognized over a remaining weighted average period of approximately 0.9 years. c) Warrants Warrant transactions are summarized as follows: Warrants Weighted average exercise price (C$) Balance June 30, 2017 20,609,086 $ 0.79 Granted 3,698,958 0. 78 Balance, September 30, 2017 24,308,044 $ 0. 79 As discussed above under Note 5, the Company granted 543,896 Convertible Security Increase warrants to Lind in connection with the funding of the Convertible Security Increase. As discussed above under Note 6a, the Company granted 2,962,500 warrants and 192,562 broker warrants in conjunction with the July 2017 Private Placement. At September 30, 2017, the Company has outstanding exercisable warrants, as follows: Number Exercise Price (C$) Expiry Date 283,413 0.66 September 28, 2020 3,125,000 0.72 December 22, 2018 260,483 0.73 August 15, 2020 9,150,285 0.75 January 19, 2019 3,155,062 0.79 July 26, 2021 3,860,800 0.85 February 14, 2020 3,043,024 0.85 February 21, 2020 539,307 0.85 February 28, 2020 890,670 0.90 March 31, 2020 24,308,044

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	3 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	8. RELATED PARTY TRANSACTIONS AND BALANCES The Company has a loan with Mark Smith, President, Chief Executive Officer and Executive Chairman of NioCorp (the “Original Smith Loan”), that bears an interest rate of 10%, is secured by the Company’s assets pursuant to a concurrently executed general security agreement (the “General Security Agreement”), and is subject to both a 2.5% establishment fee and 2.5% prepayment fee. The principal amount outstanding under the Original Smith Loan is $1.0 million, and is due on June 17, 2018. The Company has a non-revolving credit facility agreement (the “Credit Facility”) in the amount of $2.0 million with Mr. Smith. The Credit Facility bears an interest rate of 10% and drawdowns from the Credit Facility are subject to a 2.5% establishment fee. Amounts outstanding under the Credit Facility are secured by all of the Company’s assets pursuant to the General Security Agreement. The Credit Facility contains financial and non-financial covenants customary for a facility of this size and nature. As of September 30, 2017, the principal amount outstanding under the Credit Facility is $175, and is due on June 16, 2018. As of September 30, 2017, accounts payable and accrued liabilities included interest payable to Mr. Smith of $132.

EXPLORATION EXPENDITURES

EXPLORATION EXPENDITURES	3 Months Ended
	Sep. 30, 2017
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
EXPLORATION EXPENDITURES	9. Exploration Expenditures For the three months ended September 30, 2017 2016 Technical studies and engineering $ 395 $ 519 Field management and other 210 234 Metallurgical development 83 1,190 Geologists and field staff 25 27 Total $ 713 $ 1,970

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	10. Fair Value Measurements The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables, or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized in income. Financial instruments including receivables, accounts payable and accrued liabilities, and related party loans are carried at amortized cost, which Management believes approximates fair value due to the short-term nature of these instruments. The following table presents information about the assets and liabilities that are measured at fair value on a recurring basis as at September 30, 2017 and June 30, 2017, and indicates 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 included situations where there is little, if any, market activity for the instrument: As of September 30, 2017 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 317 $ 317 $ — $ — Available for sale securities 13 13 — — Total $ 330 $ 330 $ — $ — Liabilities: Convertible debt $ 2,550 $ — $ — $ 2,550 Derivative liability, convertible debt 16 — — 16 Total $ 2,566 $ — $ — $ 2,566 As of June 30, 2017 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 238 $ 238 $ — $ — Restricted cash 265 265 — — Available for sale securities 23 23 — — Total $ 526 $ 526 $ — $ — Liabilities: Convertible debt $ 3,465 $ — $ — $ 3,465 Derivative liability, convertible debt 82 — — 82 Total $ 3,547 $ — $ — $ 3,547 The Company measures the fair market value of the Level 3 components using the Black-Scholes model and discounted cash flows, as appropriate. These models take into account Management’s best estimate of the conversion price of the stock, an estimate of the expected time to conversion, an estimate of the stock’s volatility, and the risk-free rate of return expected for an instrument with a term equal to the duration of the convertible debt. The following table sets forth a reconciliation of changes in the fair value of the Company’s convertible debt components classified as Level 3 in the fair value hierarchy: Balance, June 30, 2017 $ 3,547 Additional debt drawdown 500 Conversions to equity (1,441 ) Realized and unrealized gains (40 ) Balance, September 30, 2017 $ 2,566

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	11. Subsequent events On October 19, 2017, the Company announced that Mark Smith was providing $180 in funding under the existing Credit Facility with the Company. This funding, which was received on October 20, 2017, is subject to the same terms and conditions as the prior drawdown under the Credit Facility and will be used to accelerate NioCorp’s ongoing Elk Creek project finance efforts. On October 31, 2017, Lind funded an additional $0.25 million of the Convertible Security Increase, bringing the total Convertible Security Increase funding to $0.75 million as of that date. In connection with this funding, the Company issued 308,901 Warrants to Lind, with each Warrant entitling the holder to acquire one common share at a price of C$0.62 per share until October 31, 2020.

BASIS OF PREPARATION (Policies)

BASIS OF PREPARATION (Policies)	3 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation and Consolidation	a) Basis of Preparation and Consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles of the United States of America (“US 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, 2017. In the opinion of Management, all adjustments considered necessary (including reclassifications and normal recurring adjustments) to present fairly the financial position, results of operations, and cash flows at September 30, 2017, 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 US 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, 2017. The interim results are not necessarily indicative of results for the full year ending June 30, 2018, or future operating periods.
Recent Accounting Standards	b) Recent Accounting Standards Issued and Adopted In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require, among other things, that all income tax effects of awards be recognized in the income statement when the awards vest or are settled. The ASU also allows for an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting, and it allows for a policy election to account for forfeitures as they occur. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. We adopted this guidance during the quarter ended September 30, 2017. The adoption of this ASU had no material impacts on our financial statement results or disclosures. Issued and Not Effective From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. In February 2016, the FASB issued ASU 2016-02, Leases. The standard requires that a lessee recognize on the balance sheet assets and liabilities for leases with lease terms of more than twelve months. The recognition, measurement, and presentation of expenses and cash flows arising from a lease have not significantly changed from the previous US GAAP. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within such fiscal year, with early adoption permitted. The Company is currently assessing the impact, if any, of implementing this guidance on its consolidated financial position, results of operations, and liquidity.
Use of Estimates	c) Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, convertible debt valuations, and share-based compensation. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected.

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of convertible debt	As of September 30, 2017 June 30, 2017 Convertible security, current portion $ 572 $ 2,161 Convertible notes $ 628 $ 592 Convertible security 1,978 1,304 $ 2,606 $ 1,896
Schedule of change in convertible security balance	Changes in the Lind Partners Asset Management IV, LLC (“Lind”) convertible security (the “Convertible Security”) balance are comprised of the following: Convertible Security Balance, June 30, 2017 $ 3,465 Additional debt drawdown 500 Conversions, at fair value (1,441 ) Change in fair market value 26 Balance, September 30, 2017 $ 2,550 Comprised of: Current portion $ 572 Noncurrent portion 1,978 Total $ 2,550
Schedule of changes in the notes balance	Changes in the Company’s outstanding convertible promissory notes (the “Convertible Notes”) balance are comprised of the following: Convertible Notes Balance, June 30, 2017 $ 592 Accreted interest, net of interest paid 36 Balance, September 30, 2017 $ 628
Schedule of derivative liability related to the conversion feature	The changes in the derivative liability related to the conversion feature are as follows: Derivative Liability Balance, June 30, 2017 $ 82 Change in fair value of derivative liability (66 ) Balance, September 30, 2017 $ 16

COMMON STOCK (Tables)

COMMON STOCK (Tables)	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of stock option	Stock option transactions are summarized as follows: Number of Weighted Average Exercise Price (C$) Balance, June 30, 2017 16,605,000 $ 0.73 Exercised (10,091 ) 0.62 Cancelled/expired (1,750,000 ) 0.68 Balance, September 30, 2017 14,844,909 $ 0.73
Schedule of information about stock options outstanding	The following table summarizes information about stock options outstanding at September 30, 2017: Exercise Expiry date Number outstanding Aggregate Number exercisable Aggregate $ 0.62 January 19, 2021 5,264,909 $ — 5,264,909 $ — $ 0.76 March 7, 2022 5,650,000 — 2,825,000 — $ 0.80 December 22, 2017 2,720,000 — 2,720,000 — $ 0.94 April 28, 2018 500,000 — 500,000 — $ 0.94 July 21, 2021 710,000 — 532,500 — Balance September 30, 2017 14,844,909 $ — 11,842,409 $ —
Schedule of warrant transactions	Warrant transactions are summarized as follows: Warrants Weighted average exercise price (C$) Balance June 30, 2017 20,609,086 $ 0.79 Granted 3,698,958 0. 78 Balance, September 30, 2017 24,308,044 $ 0. 79
Schedule of outstanding exercisable warrants	At September 30, 2017, the Company has outstanding exercisable warrants, as follows: Number Exercise Price (C$) Expiry Date 283,413 0.66 September 28, 2020 3,125,000 0.72 December 22, 2018 260,483 0.73 August 15, 2020 9,150,285 0.75 January 19, 2019 3,155,062 0.79 July 26, 2021 3,860,800 0.85 February 14, 2020 3,043,024 0.85 February 21, 2020 539,307 0.85 February 28, 2020 890,670 0.90 March 31, 2020 24,308,044

EXPLORATION EXPENDITURES (Table

EXPLORATION EXPENDITURES (Tables)	3 Months Ended
	Sep. 30, 2017
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Schedule of exploration expenditures	For the three months ended September 30, 2017 2016 Technical studies and engineering $ 395 $ 519 Field management and other 210 234 Metallurgical development 83 1,190 Geologists and field staff 25 27 Total $ 713 $ 1,970

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of fair values determined by Level 3 inputs are unobservable data	Fair values determined by Level 3 inputs are unobservable data points for the financial instrument and included situations where there is little, if any, market activity for the instrument: As of September 30, 2017 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 317 $ 317 $ — $ — Available for sale securities 13 13 — — Total $ 330 $ 330 $ — $ — Liabilities: Convertible debt $ 2,550 $ — $ — $ 2,550 Derivative liability, convertible debt 16 — — 16 Total $ 2,566 $ — $ — $ 2,566 As of June 30, 2017 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 238 $ 238 $ — $ — Restricted cash 265 265 — — Available for sale securities 23 23 — — Total $ 526 $ 526 $ — $ — Liabilities: Convertible debt $ 3,465 $ — $ — $ 3,465 Derivative liability, convertible debt 82 — — 82 Total $ 3,547 $ — $ — $ 3,547
Schedule of reconciliation of changes in the fair value	The following table sets forth a reconciliation of changes in the fair value of the Company’s convertible debt components classified as Level 3 in the fair value hierarchy: Balance, June 30, 2017 $ 3,547 Additional debt drawdown 500 Conversions to equity (1,441 ) Realized and unrealized gains (40 ) Balance, September 30, 2017 $ 2,566

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Sep. 30, 2017Number
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segment	1

GOING CONCERN ISSUES (Details N

GOING CONCERN ISSUES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (1,813)	$ (2,775)	$ (14,630)
Working capital deficit	(3,734)
Accumulated deficit	$ (76,665)		$ (74,852)

RESTRICTED CASH (Details Narrat

RESTRICTED CASH (Details Narrative) $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Accounts Payable [Member]
Restricted cash amounts held in escrow account	$ 265

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Short-term Debt [Line Items]
Convertible of long term debt	$ 2,606	$ 1,896
Convertible security, current portion	572	2,161
Secured Convertible Security [Member]
Short-term Debt [Line Items]
Convertible of long term debt	628	592
Unsecured Convertible Promissory Notes [Member]
Short-term Debt [Line Items]
Convertible of long term debt	$ 1,978	$ 1,304

CONVERTIBLE DEBT (Details 1)

CONVERTIBLE DEBT (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Jun. 30, 2017
Comprised of:
Current portion		$ 572	$ 2,161
Noncurrent portion		2,606	1,896
Secured Convertible Security [Member]
Comprised of:
Noncurrent portion		628	592
Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Change Convertible Security Balance [Roll Forward]
Balance at beginning	$ 3,465
Additional debt drawdown	500
Conversions, at fair value	(1,441)
Change in fair market value	26
Balance at ending	2,550
Comprised of:
Current portion		572
Noncurrent portion		1,978
Total	$ 3,465	$ 2,550	$ 3,465

CONVERTIBLE DEBT (Details 2)

CONVERTIBLE DEBT (Details 2) $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Convertible Notes [Roll Forward]
Balance at beginning	$ 1,896
Balance at ending	2,606
Secured Convertible Security [Member]
Convertible Notes [Roll Forward]
Balance at beginning	592
Accreted interest, net of interest paid	36
Balance at ending	$ 628

CONVERTIBLE DEBT (Details 3)

CONVERTIBLE DEBT (Details 3) $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Derivative Instruments and Hedges, Liabilities, Noncurrent [Roll Forward]
Balance at beginning	$ 82
Balance at ending	16
Unsecured Convertible Promissory Notes [Member]
Derivative Instruments and Hedges, Liabilities, Noncurrent [Roll Forward]
Balance at beginning	82
Change in fair value of derivative liability	(66)
Balance at ending	$ 16

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) $ in Thousands	Sep. 28, 2017USD ($)	Aug. 15, 2017CAD / sharesshares	Aug. 10, 2017USD ($)	Sep. 30, 2017USD ($)shares	Sep. 30, 2017USD ($)	Sep. 28, 2017CAD / sharesshares
Warrant [Member] | Tranche One [Member] | Lind Partners Asset Management IV, LLC [Member]
Number of common stock purchased | shares		260,483
Warrant term				36 months
Risk-free interest rate				1.23%
Expected dividend yield				0.00%
Volatility rate				49.60%
Expected life				3 years
Change in financial instrument fair value				$ 33
Warrant [Member] | Tranche One [Member] | Lind Partners Asset Management IV, LLC [Member] | Canada
Exercise price (in dollars per share) | CAD / shares		CAD 0.73
Secured Convertible Security [Member]
Description of convenent				The Convertible Security contains financial and non-financial covenants customary for a facility of this size and nature, and includes a financial covenant defining an event of default as all present and future liabilities of the Company or any of its subsidiaries, exclusive of related party loans, for an amount or amounts exceeding $2.0 million, and which have not been satisfied on time or within 90 days of invoice, or have become prematurely payable as a result of its default or breach. The Company was in compliance as of September 30, 2017.
Description of conversion price				The Convertible Security is convertible into Common Shares of the Company at a conversion price equal to 85% of the volume weighted average trading price of the Common Shares (in Canadian dollars) on the TSX for the five consecutive trading days immediately prior to the date on which the Lind provides the Company with notice of its intention to convert an amount of the Convertible Security from time to time.
Debt conversion amount				$ 1,000
Number of shares issued upon debt conversion | shares				2,354,281
Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Additional debt drawdown				$ 500
Secured Convertible Security [Member] | Tranche One [Member] | Lind Partners Asset Management IV, LLC [Member]
Additional debt drawdown			$ 1,000		$ 500
Increase in debt drawdown			$ 1,200
Maturity date of the first tranche	Sep. 28, 2020	Aug. 15, 2020
Number of common stock purchased | shares						283,413
Risk-free interest rate	1.23%
Expected dividend yield	0.00%
Volatility rate	47.70%
Expected life	3 years
Change in financial instrument fair value	$ 32
Secured Convertible Security [Member] | Tranche One [Member] | Lind Partners Asset Management IV, LLC [Member] | Canada
Exercise price (in dollars per share) | CAD / shares						CAD 0.66

COMMON STOCK (Details)

COMMON STOCK (Details)	3 Months Ended
	Sep. 30, 2017CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at beginning | shares	16,605,000
Exercised | shares	(10,091)
Cancelled/expired | shares	(1,750,000)
Balance at end | shares	14,844,909
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Balance at beginning | CAD / shares	CAD 0.73
Exercised | CAD / shares	0.62
Cancelled/expired | CAD / shares	0.68
Balance at end | CAD / shares	CAD 0.73

COMMON STOCK (Details 1)

COMMON STOCK (Details 1)	3 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2017CADshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding	14,844,909	14,844,909
Aggregate Intrinsic Value | CAD
Number exercisable	11,842,409	11,842,409
Aggregate Intrinsic Value | CAD
Exercise Price C$0.62 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date	Jan. 19, 2021
Number of outstanding	5,264,909	5,264,909
Aggregate Intrinsic Value | CAD
Number exercisable	5,264,909	5,264,909
Aggregate Intrinsic Value | CAD
Exercise Price C$0.76 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date	Mar. 7, 2022
Number of outstanding	5,650,000	5,650,000
Aggregate Intrinsic Value | CAD
Number exercisable	2,825,000	2,825,000
Aggregate Intrinsic Value | CAD
Exercise Price C$0.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date	Dec. 22, 2017
Number of outstanding	2,720,000	2,720,000
Aggregate Intrinsic Value | CAD
Number exercisable	2,720,000	2,720,000
Aggregate Intrinsic Value | CAD
Exercise Price C$0.94 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date	Apr. 28, 2018
Number of outstanding	500,000	500,000
Aggregate Intrinsic Value | CAD
Number exercisable	500,000	500,000
Aggregate Intrinsic Value | CAD
Exercise Price C$0.94 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date	Jul. 21, 2021
Number of outstanding	710,000	710,000
Aggregate Intrinsic Value | $
Number exercisable	532,500	532,500
Aggregate Intrinsic Value | $

COMMON STOCK (Details 2)

COMMON STOCK (Details 2)	3 Months Ended
	Sep. 30, 2017CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance, at beginning | shares	20,609,086
Granted | shares	3,698,958
Balance, at end | shares	24,308,044
Share Based Compensation Arrangement By Share Based Payment Award Other Than Options Outstanding Weighted Average Exercise Price [Roll Forward]
Balance, at beginning | CAD / shares	CAD 0.79
Granted | CAD / shares	0.78
Balance, at end | CAD / shares	CAD 0.79

COMMON STOCK (Details 3)

COMMON STOCK (Details 3) - CAD / shares	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Class of Warrant or Right [Line Items]
Number	24,308,044	20,609,086
Exercise Price C$0.66 [Member]
Class of Warrant or Right [Line Items]
Number	283,413
Exercise Price	CAD 0.66
Expiry Date	Sep. 28, 2020
Exercise Price C$0.72 [Member]
Class of Warrant or Right [Line Items]
Number	3,125,000
Exercise Price	CAD 0.72
Expiry Date	Dec. 22, 2018
Exercise Price C$0.73 [Member]
Class of Warrant or Right [Line Items]
Number	260,483
Exercise Price	CAD 0.73
Expiry Date	Aug. 15, 2020
Exercise Price C$0.75 [Member]
Class of Warrant or Right [Line Items]
Number	9,150,285
Exercise Price	CAD 0.75
Expiry Date	Jan. 19, 2019
Exercise Price C$0.79 [Member]
Class of Warrant or Right [Line Items]
Number	3,155,062
Exercise Price	CAD 0.79
Expiry Date	Jul. 26, 2021
Exercise Price C$0.85 [Member]
Class of Warrant or Right [Line Items]
Number	3,860,800
Exercise Price	CAD 0.85
Expiry Date	Feb. 14, 2020
Exercise Price C$0.85 [Member]
Class of Warrant or Right [Line Items]
Number	3,043,024
Exercise Price	CAD 0.85
Expiry Date	Feb. 21, 2020
Exercise Price C$0.85 [Member]
Class of Warrant or Right [Line Items]
Number	539,307
Exercise Price	CAD 0.85
Expiry Date	Feb. 28, 2020
Exercise Price C$0.90 [Member]
Class of Warrant or Right [Line Items]
Number	890,670
Exercise Price	CAD 0.90
Expiry Date	Mar. 31, 2020

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) CAD / shares in Units, CAD in Thousands, $ in Thousands	Sep. 28, 2017	Sep. 05, 2017CADCAD / sharesshares	Jul. 26, 2017CADCAD / sharesshares	Jul. 31, 2017USD ($)shares	Jul. 31, 2017CADCAD / sharesshares	Feb. 28, 2017shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2017CAD / shares
Number of outstanding							14,844,909
Broker Warrant [Member]
Number of units issued						192,562
Warrant [Member]
Number of warrants granted						2,962,500
Warrant [Member] | Northcott Capital Limited [Member]
Number of units issued		415,747
Warrant [Member] | Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Number of outstanding							543,896
Tranche One [Member] | Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Risk free interest rate	1.23%
Volatility	47.70%
Expected dividend yield	0.00%
Expected life	3 years
Tranche One [Member] | Warrant [Member] | Lind Partners Asset Management IV, LLC [Member]
Risk free interest rate							1.23%
Volatility							49.60%
Expected dividend yield							0.00%
Expected life							3 years
Non-Brokered Private Placement [Member] | Tranche One [Member]
Number of units issued			2,962,500
Private Placement [Member] | Warrant [Member] | Mackie Research Capital Corporation [Member]
Number of units issued				192,562	192,562
Fair value of Broker Warrants | $				$ 41
Cash commissions paid | $				$ 189
Risk free interest rate				132.00%	132.00%
Volatility				60.30%	60.30%
Expected dividend yield				0.00%	0.00%
Expected life				4 years	4 years
Broker warrant exercise date				Jul. 26, 2021	Jul. 26, 2021
Percentage paid on warrant issued				6.50%	6.50%
Percentage paid on cash commission				6.50%	6.50%
Canada | Warrant [Member] | Northcott Capital Limited [Member]
Unit price (in dollars per unit) | CAD / shares		CAD 0.61
Debt settlement | CAD		CAD 253,606
Description of share price		The shares issued to Northcott were priced at C$0.61, which represents a 10% premium over the five-day Volume Weighted Average Price of NioCorp’s shares of C$0.5571 as of the date of the agreement.
Canada | Non-Brokered Private Placement [Member]
Unit price (in dollars per unit) | CAD / shares			CAD 0.65
Additional unit price (in dollars per unit) | CAD / shares			CAD 0.79
Canada | Non-Brokered Private Placement [Member] | Tranche One [Member]
Gross proceeds from units issued | CAD			CAD 1,926
Broker warrant exercise date			Jul. 26, 2021
Canada | Private Placement [Member] | Warrant [Member] | Mackie Research Capital Corporation [Member]
Unit price (in dollars per unit) | CAD / shares					CAD 0.79
Gross proceeds from units issued | CAD					CAD 125
Stock Option Plan [Member]
Percentage of maximum outstanding stock issued under plan							10.00%
Plan award term							10 years
Number of vested and exercisable options
Unrecognized compensation cost | $							$ 430
Cost recognized weighted average period							10 months 24 days
Stock Option Plan [Member] | Canada
Share price (in dollars per share) | CAD / shares								CAD 0.52

RELATED PARTY TRANSACTIONS AN36

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - Mark A. Smith [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Non Revolving Line Of Credit [Member]
Credit facility interest rate (in dollars per share)	10.00%
Non-Revolving Credit Facility Agreement [Member] | Smith Loans [Member]
Description of fees associated with providing collateral for the credit facility	Secured by the Company’s assets pursuant to a concurrently executed general security agreement (the “General Security Agreement”), and is subject to both a 2.5% establishment fee and 2.5% prepayment fee.
Principal amount outstanding	$ 1,000
Non-Revolving Credit Facility Agreement [Member] | 10% Non-Revolving Credit Facility Due January 16, 2018 [Member]
Principal amount outstanding	175
Credit facility maximum borrowing capacity	$ 2,000
Establishment fee	2.50%
Description of collateral	Secured by all of the Company’s assets pursuant to the General Security Agreement.
General Security Agreement [Member] | Smith Loans [Member] | Accounts Payable and Accrued Liabilities [Member]
Interest payable	$ 132

EXPLORATION EXPENDITURES (Detai

EXPLORATION EXPENDITURES (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Total	$ 713	$ 1,970
Technical Studies And Engineering [Member]
Total	395	519
Field Management And Other [Member]
Total	210	234
Metallurgical Development [Member]
Total	83	1,190
Geologists and Field Staff [Member]
Total	$ 25	$ 27

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2016
Assets:
Cash and cash equivalents	$ 317	$ 238
Restricted cash		265
Available for sale securities	13	23
Total	330	526
Liabilities:
Convertible debt	2,550	3,465
Derivative liability, convertible debt	16	82
Total	2,566	3,547
Level 1 [Member]
Assets:
Cash and cash equivalents	317	238
Restricted cash		265
Available for sale securities	13	23
Total	330	526
Liabilities:
Convertible debt
Derivative liability, convertible debt
Total
Level 2 [Member]
Assets:
Cash and cash equivalents
Restricted cash
Available for sale securities
Total
Liabilities:
Convertible debt
Derivative liability, convertible debt
Total
Level 3 [Member]
Assets:
Cash and cash equivalents
Restricted cash
Available for sale securities
Total
Liabilities:
Convertible debt	2,550	3,465
Derivative liability, convertible debt	16	82
Total	$ 2,566	$ 3,547

FAIR VALUE MEASUREMENTS (Deta39

FAIR VALUE MEASUREMENTS (Details 1) - Level 3 [Member] $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning	$ 3,547
Additional debt drawdown	500
Conversions to equity	(1,441)
Realized and unrealized gains	(40)
Balance at end	$ 2,566

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) $ in Thousands	Oct. 31, 2017USD ($)shares	Sep. 30, 2017USD ($)	Oct. 31, 2017CAD / shares	Oct. 19, 2017USD ($)
Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Additional debt drawdown		$ 500
Subsequent Event [Member] | Elk Creek Resources Corp [Member] | Non-Revolving Credit Facility Agreement [Member] | Mark A. Smith [Member]
Maximum borrowing capacity				$ 180
Subsequent Event [Member] | Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member]
Additional debt drawdown	$ 250
Increase in debt drawdown	$ 750
Subsequent Event [Member] | Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member] | Warrant [Member]
Number of shares issued | shares	308,901
Subsequent Event [Member] | Secured Convertible Security [Member] | Lind Partners Asset Management IV, LLC [Member] | Warrant [Member] | Canada
Warrant exercise price (in dollars per share) | CAD / shares			CAD 0.62