UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR British Columbia, Canada 98-1262185 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 7000 South Yosemite Street, Suite 115 Centennial, CO (Address of Principal Executive Offices) 80112 (Zip code) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 O ...

Financing Activities - The company closed a non-brokered private placement on December 22, 2023, raising approximately $1.29 million by issuing 413,432 units, each consisting of one common share and one warrant[72] - The company received a Letter of Interest from EXIM for potential debt financing of up to $800 million for the Elk Creek Project on March 6, 2023[77] - The company submitted a formal application to EXIM for a loan under the "Make More in America" initiative on June 6, 2023, and received approval from the first of three reviews by the EXIM Transaction Review Committee on October 2, 2023[78] - The company is focused on obtaining additional funds to complete mine development and construction of the Elk Creek Project[71] - Financing inflows were $2.9 million during the six months ended December 31, 2023, including $1.0 million from a September 2023 private placement and $1.3 million from a December 2023 private placement[105] - The company expects to require additional financing during the fiscal year ending June 30, 2024, to fund exploration and development activities at the Elk Creek Project[98] - The Yorkville Equity Facility Financing Agreement provides near-term and longer-term access to capital, subject to certain limitations and conditions[94] - The company's ability to arrange additional financing depends on capital market conditions and the success of the Elk Creek Project development[109] - The company has outstanding convertible debentures with an aggregate principal and accrued interest amount of $3.87 million as of February 13, 2024[115] Elk Creek Project Development - The company completed a 90% engineering package for road improvements near the Elk Creek Project site during the quarter ended December 31, 2023[76] - The company is developing the Elk Creek Project, which has disclosed niobium, scandium, and titanium mineral reserves and resources, as well as rare earth oxide mineral resources[70] - The company's forward-looking statements are based on current business and operating plans, including expectations for the Elk Creek Project's production and market demand for its products[63] - The company's forward-looking statements are subject to risks and uncertainties, including the ability to secure sufficient project financing and the impact of inflation and supply chain issues on the Elk Creek Project[65] - The company expects to require additional financing during the fiscal year ending June 30, 2024, to fund exploration and development activities at the Elk Creek Project[98] Operational Updates - The company's demonstration scale processing plant in Trois-Rivieres, Quebec, completed the production of waste materials for tailings impoundment and paste backfill engineering design during the quarter ended December 31, 2023[75] - The company announced an aluminum-scandium master alloy initiative in May 2023, with two of three planned 1-kilogram ingots manufactured by December 31, 2023[73] Financial Performance and Expenses - The company has no revenues from mining operations, with operating expenses of $2.9 million for the three months ended December 31, 2023, and $6.4 million for the six months ended December 31, 2023[80][81] - Employee-related costs increased to $328,000 for the three months ended December 31, 2023, up from $291,000 in the same period in 2022, primarily due to board-authorized salary increases[82] - Professional fees surged to $952,000 for the three months ended December 31, 2023, compared to $262,000 in 2022, driven by legal services and audit fees[83] - Exploration expenditures decreased to $828,000 for the three months ended December 31, 2023, from $1.3 million in 2022, as 2022 costs included Demonstration Plant development and start-up costs[84] - The company had cash of $0.6 million and a working capital deficit of $10.6 million as of December 31, 2023, compared to cash of $2.3 million and working capital of $0.2 million on June 30, 2023[95] - Operating activities consumed $4.6 million of cash during the six months ended December 31, 2023, reflecting funding of losses of $6.8 million and Convertible Debenture accretion[104] Risk Factors and Financial Controls - The company's exposure to interest rate risk primarily relates to earned interest income on cash deposits and short-term investments[116] - NioCorp faces foreign currency exchange risk due to expenditures in both U.S. dollars and Canadian dollars, primarily related to Common Share-related costs and corporate professional services[117] - The company is exposed to commodity price risk related to the elements associated with the Elk Creek Project, which is not yet in production[118] - Material weaknesses in the company's control environment, risk assessment, control activities, and monitoring activities were identified and continued to exist as of December 31, 2023[123] - These material weaknesses resulted in errors that required restatements of the company's consolidated financial statements for fiscal years 2021 and 2022, as well as interim periods in 2021 and 2022[124] - The company is implementing a technical accounting policy to address material weaknesses, including separation of analysis and review of accounting issues and development of a non-routine transactions policy[127] - NioCorp is enhancing controls over its financial statement close and reporting process to remediate material weaknesses related to monitoring activities[127] - NioCorp's disclosure controls and procedures are designed to ensure timely and accurate reporting of material information to management, including the CEO and CFO[120] Tax and Regulatory Matters - NioCorp was classified as a PFIC for the taxable years ended June 30, 2023 and 2022, and may continue to be classified as a PFIC in the current or future taxable years[112]

Financial Position and Liquidity - The company had cash of $1.1 million and a working capital deficit of $10.5 million as of September 30, 2023, compared to cash of $2.3 million and working capital of $0.2 million on June 30, 2023[91] - The company expects to operate at a loss for the foreseeable future, with planned cash needs of approximately $9.25 million until June 30, 2024, and average monthly expenditures of $745,000[92] - The company's operating activities consumed $2.7 million of cash during the three months ended September 30, 2023, compared to $1.7 million in the same period of 2022[99] - The company has no revenue-generating operations and relies on debt and equity financings to fund its activities, with no assurance of obtaining additional financing on acceptable terms[101] - The company has concluded that substantial doubt exists as to its ability to continue as a going concern due to insufficient cash to fund normal operations and meet debt obligations for the next twelve months[97] Funding and Financing - The company anticipates requiring additional funds totaling $10.0 million to $11.0 million to continue advancing the Elk Creek Project in areas such as financing, permitting, and detailed engineering[93] - The company submitted an application to EXIM for debt financing to fund the Elk Creek Project, but there is no assurance that the financing will be completed[95] - Financing inflows were $1.5 million during the three months ended September 30, 2023, primarily from a private placement and share issuances under the Yorkville Equity Facility Financing Agreement[100] - The company's ability to arrange additional financing depends on capital market conditions and the development of the Elk Creek Project[103] Share and Equity Information - Common Shares outstanding on a fully-diluted basis as of November 13, 2023: 33,142,280[109] - Vested shares of ECRC Class B common stock: 4,565,808[109] - Stock options exercisable into Common Shares: 1,319,000[109] - Warrants exercisable into Common Shares: 18,917,199[109] - Convertible debt exchangeable into Common Shares: 2,147,800[109] - NioCorp Assumed Warrants exercisable into Common Shares: 15,666,626[110] - Warrants exercisable into Common Shares: 3,250,573[110] - Convertible Debentures outstanding principal and accrued interest: $7.6 million[110] - Market price per Common Share on November 13, 2023: $3.91[110] Tax and Regulatory Considerations - The company believes it was classified as a PFIC for the taxable years ended June 30, 2023 and 2022, and may be classified as a PFIC in future taxable years, which could have adverse tax consequences for U.S. holders[106] Project and Market Risks - Company's exposure to commodity price risk related to the Elk Creek Project[113]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 NioCorp Developments Ltd. (Exact name of registrant as specified in its charter) British Columbia, Canada 98-1262185 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 NioCorp Developments Ltd. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 98-1262185 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 7000 South Yosemite Street, Suite 115 Centennial, CO (Address of Principal Executive Offices) 80112 (Zip code) Registrant's ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-55710 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-55710 NioCorp Developments Ltd. (Exact Name of Registrant as Specified in its Charter) | | | (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-55710 NioCorp Developments Ltd. (Exact name of registrant as specified in its charter) British Columbia, Canada 98-1262185 (State or ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-55710 NioCorp Developments Ltd. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 98-1262185 (State or other jurisdiction of incorporation or organization) ( ...

Commission file number: 000-55710 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to NioCorp Developments Ltd. (Exact Name of Registrant as Specified in its Charter) British Columbia, Canada 98-1262185 (State or ot ...