NioCorp to accelerate Elk Creek critical minerals project activities

CENTENNIAL, CO - NioCorp Developments Ltd. (NASDAQ:NB), which has seen its stock surge nearly 140% over the past six months according to InvestingPro data, plans to ramp up pre-construction activities at its Elk Creek Critical Minerals Project following successful fundraising efforts totaling approximately $60.7 million over the past three months, the company announced Tuesday. The company, currently valued at $1.48 billion, has demonstrated strong momentum despite challenging market conditions.

The company raised approximately $18.9 million in a public equity offering that closed on April 21, 2025, followed by approximately $41.8 million in another public offering that closed on July 18, 2024.

"NioCorp is now empowered to accelerate field activities and other pre-construction work streams so that the Elk Creek Project can get out of the blocks that much faster once full project financing is obtained," said Mark A. Smith, NioCorp CEO and Executive Chairman, in a press release statement.

The company indicated the capital will support various initiatives as it advances the project, including additional land acquisition, geomechanical and hydrogeological field work, detailed engineering, site preparation, infrastructure development, utility hookups, operational permitting, and team expansion.

Smith noted that the fundraising success provides "important support and momentum" to ongoing engagement with the U.S. Export-Import Bank and other debt finance providers as the company works to assemble project financing.

The Elk Creek Project is expected to produce niobium, scandium, and titanium. The company is also evaluating the potential to produce rare earth elements from the site.

Smith referenced the Trump Administration’s focus on critical minerals development, stating, "We feel a responsibility to accelerate our efforts to deliver multiple critical mineral products to market."

Niobium is used in specialty alloys and high-strength steel for automotive, structural, and pipeline applications, while scandium is used in aluminum alloys and fuel cells. Titanium serves various applications including aerospace, armor, and medical implants.

In other recent news, NioCorp Developments Ltd. has closed a public offering of 13,850,000 common shares at $3.25 per share, raising approximately $45 million in gross proceeds. The funds are earmarked to advance the construction of the company’s Elk Creek Project in Southeast Nebraska. The offering was conducted in the United States, with Maxim Group LLC acting as the sole placement agent. Additionally, H.C. Wainwright has adjusted its price target for NioCorp to $4.00, down from $4.25, while maintaining a Buy rating. This adjustment follows NioCorp’s announcement of a non-binding Expression of Interest from UK Export Finance for potential debt funding of up to $200 million for the Elk Creek Project. NioCorp’s recent public offering aimed to support its ongoing project development efforts. The offering’s completion remains subject to customary closing conditions. These developments highlight NioCorp’s ongoing financial strategies and project funding initiatives.

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