Welcome to our dedicated page for NioCorp Developments Ltd. news (Ticker: NB), a resource for investors and traders seeking the latest updates and insights on NioCorp Developments Ltd. stock.
NioCorp Developments Ltd., trading under the symbol NB on NASDAQ, is spearheading the advancement of North America's highest-grade, large-tonnage, undeveloped niobium project. Located in Elk Creek, Nebraska, NioCorp is dedicated to addressing the global strategic and critical needs for niobium, a key component in the steel, automotive, and aviation industries. The company also aims to produce scandium, titanium, and magnetic rare earth elements, all of which are critical to modern technologies.
The Elk Creek Critical Minerals Project is central to NioCorp's initiatives. This venture is recognized for its exceptional niobium grade and is noted as the second-largest indicated rare earth mineral resource in the United States. Each product from this project is deemed critical by the U.S. Government, emphasizing their importance in clean technologies and the global energy transition. Niobium is crucial for manufacturing high-strength steel used in infrastructure, pipelines, fuel-efficient vehicles, and various other applications.
Noteworthy recent developments include the issuance and sale of 75,000 shares as part of a Standby Equity Purchase Agreement on February 29, 2024. This activity underscores NioCorp’s strategic financial management to support its ambitious projects. Additionally, on May 6, 2024, NioCorp received a preliminary funding term sheet from the Export-Import Bank of the United States (EXIM) for $800 million in debt financing, marking significant progress in securing the necessary capital for the Elk Creek Project.
In a bid to further bolster its strategic initiatives, NioCorp has engaged JPMorgan Chase Bank to assist in advancing the EXIM-supported debt financing for the Elk Creek Project. This collaboration aims to expedite project financing and kickstart construction quickly.
Beyond mining, NioCorp is exploring the feasibility of recycling post-consumer neodymium-iron-boron permanent rare earth magnets. If viable, this recycling initiative could significantly expand NioCorp's production capabilities for rare earth elements like neodymium, praseodymium, terbium, and dysprosium, vital for defense and civilian applications.
CEO Mark A. Smith has been vocal about the geopolitical risks associated with critical minerals, emphasizing the need for U.S. self-sufficiency in this sector. At a recent high-profile conference in Washington, D.C., Smith highlighted the dangers of U.S. dependency on foreign critical minerals and advocated for accelerated domestic development.
Technological advancements are also on the horizon for NioCorp, with a scoping study suggesting that the Railveyor™ system could significantly reduce initial CAPEX and OPEX for the Elk Creek Mine. This innovative approach could accelerate the timeline to full commercial production by approximately five months, underscoring NioCorp’s commitment to efficiency and sustainability.
Through strategic partnerships, innovative projects, and a focus on critical minerals, NioCorp Developments Ltd. is poised to play a pivotal role in the future of clean technologies and the global energy transition.
NioCorp has completed a private placement raising approximately $3.5 million through the issuance of 2,199,602 units at $1.57 per unit. The units include common shares, Series A warrants exercisable at $1.75 until November 2026, and Series B warrants exercisable at $2.07 until November 2029. Company officers and directors participated, subscribing for 239,999 units at $1.7675 per unit, contributing approximately $0.42 million. The proceeds will be used for working capital, advancing the Elk Creek Project in Nebraska, and repaying a $2.0 million credit facility from CEO Mark Smith.
NioCorp Developments (NASDAQ:NB) has announced its participation in the 121 Mining Investment Conference in London on November 14-15, 2024. Executive Chairman and CEO Mark Smith, along with COO Scott Honan, will present the company's development plans for the Elk Creek Critical Minerals Project to various investment stakeholders, including institutional funds, portfolio managers, analysts, private equity groups, and family offices.
NioCorp Developments (NASDAQ:NB) released preliminary financial results for Q3 2024, reporting a loss of $2.1 million ($0.05 per share), showing improvement from the $3.2 million loss ($0.09 per share) in Q3 2023. The company plans to file its unaudited interim condensed consolidated financial statements in its Quarterly Report on Form 10-Q by November 14, 2024. These preliminary results are subject to change and adjustment during the preparation of the final financial statements.
NioCorp Developments (NASDAQ:NB) announced the closing of its underwritten public offering, raising approximately $2.5 million before expenses. The offering included 1,592,356 common shares, each sold with one Series A Warrant and half of one Series B Warrant at $1.57 per combined unit. Series A Warrants have a $1.75 exercise price with 2-year expiration, while Series B Warrants have a $2.07 exercise price with 5-year expiration. The company plans a concurrent private placement to raise additional funds, targeting approximately $6.0 million total. Proceeds will support working capital, advance the Elk Creek Project construction, and repay the Smith Credit Facility.
NioCorp Developments (NASDAQ:NB) has announced the pricing of a combined $6.0 million offering, consisting of a $2.5 million public offering and a $3.5 million private placement. The public offering includes 1,592,356 common shares with Series A and B warrants, priced at $1.57 per combined unit. The private placement comprises 2,199,888 common shares with similar warrant structures. Series A warrants have a $1.75 exercise price with 2-year expiration, while Series B warrants have a $2.07 exercise price with 5-year expiration. Proceeds will support the Elk Creek Project construction and repay a $2.0 million credit facility.
NioCorp Developments (NASDAQ:NB) has announced the commencement of a proposed underwritten public offering of common shares and warrants in the United States, alongside a concurrent private placement. The offerings include an over-allotment option for the underwriter to purchase up to 15% additional shares and warrants. Maxim Group is serving as the sole book-running manager. The net proceeds will be used for working capital, advancing the Elk Creek Project construction in Southeast Nebraska, and repaying a $2.0 million credit facility. The public offering is being made through an effective shelf registration, while the private placement follows exemption rules. No securities will be offered to Canadian purchasers under the public offering.
NioCorp Developments (NASDAQ:NB) has successfully tested its hydrometallurgical process for recycling post-consumer permanent rare earth magnets at its demonstration plant in Quebec. The process, intended for the Elk Creek Critical Minerals Project in Nebraska, successfully extracted rare earth elements from recycled magnets using the same method planned for processing ore.
The Elk Creek Project contains the largest indicated terbium resource and second-largest indicated neodymium-praseodymium and dysprosium resources in the U.S. The company aims to process various grades of recycled magnets into separated magnetic rare earth oxides, potentially boosting domestic heavy rare earths production, which is currently dominated by Asia.
NioCorp (NASDAQ:NB) announces its participation in Project PIVOT, an $8 million industry consortium that received $3.8 million in UK government funding. The project, led by Sarginsons, includes Aston Martin, Boeing UK, and other industry leaders. The initiative aims to develop lightweight automotive components using recycled aluminum strengthened by scandium, which NioCorp plans to produce at its Elk Creek Project in Nebraska.
The consortium focuses on revolutionizing the global casting industry by optimizing design, weight, and carbon intensity of cast aluminum, targeting 100% recycled content. NioCorp will provide aluminum-scandium master alloy for research and prototype development. The company plans to produce approximately 100 tonnes per year of scandium oxide from its Nebraska facility.
NioCorp Developments (NASDAQ:NB) plans to discuss its potential production of commercial grade magnetic rare earth oxides, including heavy rare earths dysprosium and terbium, at its proposed Elk Creek Project in Nebraska. The company will present these plans at the 20th Annual Rare Earth Conference in Washington, D.C. on October 15, 2024.
NioCorp is also exploring the possibility of recycling post-consumer rare earth permanent magnets and processing magnetic rare earth concentrates from sources outside China. The company's whole ore leach process could enable the recycling of neodymium-iron-boron (NdFeB) magnets into separated rare earth oxides for new magnet production.
The Elk Creek Project boasts significant rare earth resources, including the largest indicated terbium resource and the 2nd largest indicated neodymium-praseodymium and dysprosium resources in the U.S. NioCorp plans to conduct research on the technical and commercial feasibility of NdFeB magnet recycling, pending funding.
NioCorp Developments (NASDAQ:NB) will present at the 3rd Annual Scandium Symposium in Washington, D.C. on October 14, 2024. CEO Mark Smith and COO Scott Honan will discuss the company's efforts to advance technology innovation using scandium for vehicle lightweighting, reducing automotive manufacturing costs, and cutting CO2 emissions. They will highlight NioCorp's plans to establish the U.S. as a global leader in scandium production through its Elk Creek Critical Minerals Project. The presentation will also cover ongoing collaborations with manufacturers to promote scandium use in various transportation systems. NioCorp is sponsoring the event, which will be held at the Grand Hyatt Hotel.
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