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, 2020 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 o ...

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, 2020 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 ...

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) The company reported a reduced net loss of $3.34 million for the nine-month period but faces a significant going concern risk with a working capital deficit of $7.6 million Condensed Consolidated Balance Sheet Highlights (in thousands of U.S. dollars) | Balance Sheet Item | March 31, 2020 | June 30, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $48 | $357 | | Total current assets | $50 | $428 | | Total assets | $10,706 | $11,085 | | **Liabilities & Equity** | | | | Total current liabilities | $7,666 | $5,221 | | Total liabilities | $7,666 | $6,233 | | Total equity | $3,040 | $4,852 | | **Working Capital** | **($7,616)** | **($4,793)** | Condensed Consolidated Statements of Operations Highlights (in thousands of U.S. dollars) | Metric | Three Months Ended Mar 31, 2020 | Three Months Ended Mar 31, 2019 | Nine Months Ended Mar 31, 2020 | Nine Months Ended Mar 31, 2019 | | :--- | :--- | :--- | :--- | :--- | | Total operating expenses | $817 | $1,587 | $2,710 | $4,803 | | Net loss | $1,262 | $1,519 | $3,343 | $5,723 | | Loss per common share | $0.00 | $0.01 | $0.01 | $0.03 | Condensed Consolidated Statements of Cash Flows Highlights (Nine months ended March 31, in thousands of U.S. dollars) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | ($2,172) | ($3,134) | | Net cash provided by financing activities | $1,865 | $3,225 | | Change in cash and cash equivalents | ($309) | $53 | - The company's financial statements have been prepared on a going concern basis, but its ability to continue is uncertain and dependent on obtaining sufficient financing[17](index=17&type=chunk)[26](index=26&type=chunk) - The company currently earns **no operating revenues** and as of March 31, 2020, had a **working capital deficit of $7.6 million** and an **accumulated deficit of $94.0 million**[18](index=18&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes disclose a significant 'Going Concern' issue, detail related-party loans with the CEO, and report a subsequent SBA loan received under the CARES Act - The company's sole focus is the exploration and development of the Elk Creek Niobium/Scandium/Titanium property in Nebraska[16](index=16&type=chunk) - A material uncertainty exists that raises **substantial doubt about the Company's ability to continue as a going concern** due to recurring losses and a working capital deficit[26](index=26&type=chunk)[27](index=27&type=chunk) - The potential impact of COVID-19 on obtaining financing is also noted as an adverse factor[28](index=28&type=chunk) - The maturity date for outstanding convertible promissory notes was extended by one year to October 14, 2020; during the nine months ended March 31, 2020, **$867 thousand of the Lind convertible security was converted into 2,444,420 common shares**[30](index=30&type=chunk)[31](index=31&type=chunk) - As of March 31, 2020, the company had **outstanding loans with CEO Mark Smith totaling $3.345 million**, which was subsequently increased to $3.0 million in April 2020[37](index=37&type=chunk)[39](index=39&type=chunk)[49](index=49&type=chunk) - Subsequent to the quarter's end, on April 17, 2020, a subsidiary received a **$196 thousand SBA Paycheck Protection Program (PPP) loan** under the CARES Act[50](index=50&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=17&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses the focus on advancing the Elk Creek Project, the financial impact of COVID-19, and the significant capital required to continue operations [Company Overview and Strategy](index=19&type=section&id=Company%20Overview%20and%20Strategy) NioCorp is focused on advancing its Elk Creek Niobium, Scandium, and Titanium project in Nebraska to commercial production, contingent on securing project financing - The company is developing the Elk Creek Project to produce Niobium (Nb), Scandium (Sc), and Titanium (Ti)[62](index=62&type=chunk) - The core business strategy is to advance the Elk Creek Project to commercial production, with a current focus on obtaining funds for mine development, construction, and commissioning[63](index=63&type=chunk) [COVID-19 Impact](index=19&type=section&id=COVID-19%20Impact) The COVID-19 pandemic has created funding uncertainty, though the company secured a $196 thousand SBA loan to mitigate some economic impact - The company has curtailed corporate travel and is following social distancing guidelines due to COVID-19[67](index=67&type=chunk) - On April 17, 2020, a wholly owned subsidiary received a **$196 thousand SBA loan** under the Paycheck Protection Program (PPP)[68](index=68&type=chunk)[95](index=95&type=chunk) - The pandemic has created **uncertainty for project funding timelines** and heightened the risk of being unable to secure sufficient additional capital[69](index=69&type=chunk) [Project and Corporate Updates](index=20&type=section&id=Project%20and%20Corporate%20Updates) Key developments include advancing the air permit application, increasing a credit facility with the CEO, and signing a non-binding offtake letter of intent - The credit facility with CEO Mark Smith was increased to $2.5 million in January 2020 and further to **$3.0 million in April 2020** to support project financing efforts[70](index=70&type=chunk) - A non-binding letter of intent was signed with a large U.S. steel producer for the potential purchase of **up to 25% of NioCorp's ferroniobium production** over the first 10 years[72](index=72&type=chunk) - The air permit application process is advancing, with a draft permit issued for a 30-day public comment period on April 16, 2020[74](index=74&type=chunk)[75](index=75&type=chunk) - The company has secured extensions on eight option-to-purchase agreements (OTPs) covering approximately 1,499 acres of land for the Elk Creek Project[79](index=79&type=chunk) [Financial and Operating Results](index=22&type=section&id=Financial%20and%20Operating%20Results) The company's net loss improved to $3.3 million from $5.7 million year-over-year, driven by a significant reduction in exploration expenditures Comparison of Operating Results (Nine Months Ended March 31, in thousands of U.S. dollars) | Expense Category | 2020 | 2019 | Change | | :--- | :--- | :--- | :--- | | Employee-related costs | $1,040 | $1,267 | ($227) | | Exploration expenditures | $971 | $2,863 | ($1,892) | | Total operating expenses | $2,710 | $4,803 | ($2,093) | | **Net Loss** | **$3,343** | **$5,723** | **($2,380)** | - **Exploration expenditures decreased significantly** in 2020 compared to 2019, reflecting the completion of major engineering and design work for the 2019 Feasibility Study in the prior year[85](index=85&type=chunk) - Employee-related costs declined due to decreased share-based compensation costs[83](index=83&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company faces a severe liquidity challenge with minimal cash, a $7.6 million working capital deficit, and an estimated need for $11-12 million in new funding - The company has **no revenue** and finances operations through equity and debt offerings[89](index=89&type=chunk) - As of March 31, 2020, the company had **cash of $48 thousand** and a **working capital deficit of $7.6 million**[90](index=90&type=chunk) - The company anticipates needing to raise **$11 million to $12 million** to fund operations for the next twelve months, which are focused on financing, permitting, and engineering for the Elk Creek Project[92](index=92&type=chunk) - The financial statements contain a **'going concern' qualification**, indicating significant uncertainty about the company's ability to continue operations without raising additional funds[97](index=97&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company is exposed to interest rate, foreign currency exchange, and commodity price risks associated with its pre-production status - Interest rate risk is related to earned interest on cash deposits[109](index=109&type=chunk) - Foreign currency exchange risk exists due to expenditures in both U.S. and Canadian dollars, which the company mitigates by holding cash in both currencies[110](index=110&type=chunk) - The company is exposed to commodity price risk for the elements at its Elk Creek Project and does not currently use derivative instruments to hedge this risk[111](index=111&type=chunk) [Controls and Procedures](index=26&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of March 31, 2020, with no material changes to internal controls - The CEO and CFO concluded that as of March 31, 2020, the company's **disclosure controls and procedures were effective**[112](index=112&type=chunk) - There were **no material changes** to the company's internal control over financial reporting during the three months ended March 31, 2020[114](index=114&type=chunk) [PART II — OTHER INFORMATION](index=27&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Legal Proceedings](index=27&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company is not aware of any material, active, or pending legal proceedings against it - There are **no material, active, or pending legal proceedings** against the Company[117](index=117&type=chunk) [Risk Factors](index=27&type=section&id=ITEM%201A.%20RISK%20FACTORS) Risk factors have been updated to include the potential adverse effects of the COVID-19 pandemic on operations, financing, and liquidity - A new risk factor has been added detailing the potential adverse effects of the **COVID-19 pandemic** on the company's business plans, financial condition, and liquidity[118](index=118&type=chunk)[119](index=119&type=chunk) - Specific COVID-19 related risks include delays in obtaining permits, finalizing EPC agreements, negative impacts on liquidity, and increased cybersecurity vulnerabilities[119](index=119&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company issued 101,037 common shares upon the conversion of a portion of a convertible security - On March 2, 2020, the Company issued **101,037 Common Shares** to Lind upon the conversion of a portion of its convertible security[121](index=121&type=chunk) [Mine Safety Disclosures](index=27&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) No mine safety disclosures are required as the company was not subject to MSHA regulation during the period - The company was **not subject to regulation by MSHA** during the quarter, and thus no disclosure is required under the Dodd-Frank Act[123](index=123&type=chunk) [Exhibits](index=28&type=section&id=ITEM%206.%20EXHIBITS) Filed exhibits include amendments to the CEO's credit facility, Sarbanes-Oxley certifications, and XBRL data files - Exhibits filed include amending agreements to the credit facility with CEO Mark Smith, dated January 17, 2020, and April 3, 2020[125](index=125&type=chunk) - Standard certifications from the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act are included as exhibits[125](index=125&type=chunk)

For the transition period from to Commission file number: 000-55710 NioCorp Developments Ltd. 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, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (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 For the quarterly period ended September 30, 2019 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 | | --- ...

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, 2019 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 | | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 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 other ...

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, 2018 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 ...