Bullish indicating open at $55-$60, IPO prices at $37
CENTENNIAL, Colo. - NioCorp Developments Ltd. (NASDAQ:NB), a critical minerals company with a market capitalization of $1.5 billion, announced Monday that Tony Fulton has rejoined its Board of Directors, filling a current vacancy and serving on the company’s Nominating and Corporate Governance Committee and Audit Committee. According to InvestingPro data, the company has shown remarkable momentum, with shares surging over 130% in the past six months.
Fulton, who previously served on NioCorp’s board from 2013 to 2016, returns after completing his tenure as Nebraska’s 22nd Tax Commissioner and Director of the Nebraska Department of Revenue, where he oversaw a 400-employee, $9 billion enterprise.
A mechanical engineer by training, Fulton currently serves as President of Nevada-based Hallmark Homecare, LLC and is the Founder and Owner of Guardian Angels Homecare in Lincoln, Nebraska.
"I am very pleased and proud to re-join the NioCorp Board just as the Company’s Elk Creek Critical Minerals project is rapidly progressing," Fulton said in a press release statement.
NioCorp is developing the Elk Creek Project in Southeast Nebraska, which is expected to produce niobium, scandium, and titanium. The company is also evaluating the potential to produce rare earth elements from the project. While operating with moderate debt levels, InvestingPro analysis indicates the company generated $875 million in revenue but remains in pre-profit stage as it develops this strategic asset.
Fulton will bring government and business experience to the board. During his career, he has received several awards including the 2012 Lincoln Nebraska Chamber of Commerce "Small Business of the Year" and the Better Business Bureau "Ambassador of Integrity Award." With the stock trading near its 52-week high, investors seeking deeper insights can access 10+ additional exclusive ProTips and comprehensive financial metrics through InvestingPro.
He holds a B.S. in Mechanical Engineering from the University of Nebraska-Lincoln, with additional studies in Philosophy at Newman University and Theology at Mount Saint Mary’s University.
In other recent news, NioCorp Developments Ltd. announced that its subsidiary, Elk Creek Resources Corp., has been awarded up to $10 million from the U.S. Department of Defense. This funding is intended to support the development of a domestic scandium supply chain as part of the Elk Creek Critical Minerals Project in Nebraska. Additionally, the Trump Administration’s reported plan to establish price supports for rare earth oxides and other critical minerals could potentially benefit NioCorp’s project. The company recently completed a $2.7 million land purchase in Nebraska, acquiring three parcels of land in Johnson County, which includes both surface and mineral rights. NioCorp has also regained compliance with Nasdaq audit committee requirements following changes to its board of directors. These changes were necessitated by the passing of Michael Morris, a long-serving board member, who held multiple key roles within the company. These developments reflect ongoing strategic efforts by NioCorp to advance its critical minerals project and maintain corporate governance standards.
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