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COMMON STOCK (Details 3) - CAD / shares
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Balance, at beginning 22,733,685 28,260,666 1,064,140
Granted:      
Warrants: November financing     19,245,813
Warrants: March financing     2,914,000
Agents' warrants: November financing     205,304
Agents' warrants: November financing     205,304
Agents' warrants: March financing     182,910
Agents' advisory warrants [1]     750,000
Agents' sponsorship warrants [2]     250,000
ThyssenKrupp offtake agreement [3]     8,569,000
Lind Warrants   3,125,000  
January 2016 Private Placement   9,074,835  
Broker warrants: January 2016 Private Placement   75,450  
Advisory Warrants [1]   750,000  
Sponsorship warrants [2]   250,000  
Lind First Tranche Warrants 890,670    
February 2017 Private Placements 7,364,789    
Broker Warrants: February 2017 Private Placement 78,342    
Exercised (3,447,137) (11,733,766) (5,125,805)
Expired (7,011,263) (7,068,500)
Balance, at end 20,609,086 22,733,685 28,260,666
CAD      
Granted:      
Balance at beginning CAD 0.75 CAD 0.73 CAD 0.25
Granted:      
Warrants: November financing     0.65
Warrants: March financing     1.00
Agents' warrants: November financing     0.55
Agents' warrants: November financing     0.65
Agents' warrants: March financing     0.85
Agents' advisory warrants [1]     0.55
Agents' sponsorship warrants [2]     0.60
ThyssenKrupp offtake agreement [3]     0.67
Lind Warrants   0.72  
January 2016 Private Placement   0.75  
Broker warrants: January 2016 Private Placement   0.75  
Advisory Warrants [1]   0.65  
Sponsorship warrants [2]   0.65  
Lind First Tranche Warrants 0.90    
February 2017 Private Placements 0.85    
Broker Warrants: February 2017 Private Placement 0.85    
Exercised 0.65 0.65 0.35
Expired 0.79 0.67  
Balance at end CAD 0.79 CAD 0.75 CAD 0.73
[1] Pursuant to a financial services advisory agreement with Mackie Research Capital Corporation ("MRCC") the Company issued 500,000 advisory warrants on December 4, 2014 and 250,000 advisory warrants on January 14, 2015. Each advisory warrant entitled MRCC to purchase a unit of the Company at a price of C$0.55 each, on or before December 4, 2016. Each such unit consisted of one Common Share and one warrant exercisable at a price of C$0.65 per share until December 4, 2016. These units were exercised during the year ended June 30, 2016, resulting in the granting of an additional 750,000 warrants.
[2] Pursuant to a sponsorship agreement between MRCC and the Company in connection with the Company's graduation to the Toronto Stock Exchange, the Company issued 250,000 sponsorship warrants on January 14, 2015, entitling MRCC to purchase units of the Company at C$0.60 per unit until January 14, 2017. Each such unit consisted of one Common Share and one warrant exercisable at C$0.65 per share until January 14, 2017. These units were exercised during the year ended June 30, 2016, resulting in the granting of an additional 250,000 warrants.
[3] The Company entered into an offtake agreement with ThyssenKrupp Metallurgical Products GmbH ("ThyssenKrupp") whereby ThyssenKrupp will purchase 50% of future ferroniobium production up to 3,750 metric tons from the Elk Creek property for an initial term of ten years from commencement of commercial production which may be extended by mutual agreement of the parties. The Agreement presupposes the Company obtaining project financing, obtaining all necessary approvals and constructing a mine at Elk Creek. Pursuant to the agreement, the Company granted ThyssenKrupp a non-transferable warrant to acquire 8,569,000 Common Shares of the Company at an exercise price of C$0.67 per Common Share, which expired on December 12, 2015.