Fair Value Measurements

3 Months Ended

Sep. 30, 2021

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 tables present information about the assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2021, and June 30, 2021, 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.

NioCorp Developments Ltd. 

Notes to the Condensed Consolidated Financial Statements  

September 30, 2021 

(expressed in thousands of U.S. dollars, except per share amounts or as otherwise stated) (unaudited) 

	As of September 30, 2021
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	5,868	$	5,868	$	-	$	-
Equity securities		14		14		-		-
Total	$	5,882	$	5,882	$	-	$	-

	As of June 30, 2021
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	7,317	$	7,317	$	-	$	-
Equity securities		16		16		-		-
Total	$	7,333	$	7,333	$	-	$	-