NIOBF - NIOBF STOCK NEWS

NioCorp Developments Ltd. will host two town hall meetings on November 17, 2022, in Syracuse, Nebraska, to update stakeholders on the Elk Creek Critical Minerals Project. The meetings will take place at the Kimmel Ag Expo Center, with the first session starting at 12 PM Central and the second at 6 PM Central. Advance registration is required due to anticipated demand. Attendees can expect similar presentations and a Q&A segment at both events, with food provided by Wooden Spoon Catering. Recordings will be available online post-event.

NioCorp Developments Ltd. has successfully completed Phase I of its demonstration plant in Quebec, which focuses on removing calcium and magnesium from Elk Creek ore. This milestone indicates potential efficiency gains in the processing flow sheet and could lead to new commercial products once project financing is secured. The produced carbonates achieved 99% purity, supporting plans to reassess the mineral resource's economic extraction potential. Operations will continue into subsequent phases as the company evaluates additional rare earth products.

NioCorp Developments Ltd. CEO, Mark A. Smith, cautioned during an October 3 segment on Fox Business News that China's demand for rare earth minerals is consuming its own production, impacting supplies for electric vehicles (EVs). He noted that major automotive and steel companies are seeking sources for these critical minerals from NioCorp's Elk Creek Project in Nebraska. Additionally, NioCorp has entered a business combination agreement with GX Acquisition Corp. II, aiming to list on Nasdaq with an estimated enterprise value of $313.5 million.

NioCorp Developments Ltd. (TSX: NB, OTCQX: NIOBF) announced the filing of a Technical Report Summary (TRS) with the SEC, based on its 2022 Feasibility Study for the Elk Creek Critical Minerals Project. This filing complies with SEC regulations regarding the disclosure of mineral resources and reserves. A similar report for Canadian purposes was submitted on June 28, 2022. Both reports present substantively identical data and economic conclusions, with variations attributed to different disclosure requirements.

NioCorp's CEO, Mark Smith, has highlighted a growing interest from auto manufacturers in the company's planned critical minerals, particularly following state regulations banning internal combustion engine vehicles. This trend, propelled by the Inflation Reduction Act, is expected to significantly boost demand for critical minerals like niobium, scandium, and titanium. Smith noted that inquiries from auto companies have intensified, as the Elk Creek Project in Nebraska aims to meet this rising demand once financed and operational.

The Inflation Reduction Act of 2022 introduces significant tax incentives designed to bolster U.S. production of critical minerals, particularly benefiting NioCorp's Elk Creek Project in Nebraska. Key provisions include a 10% Advanced Manufacturing Tax Credit for minerals like niobium, scandium, and titanium, applicable once the project is operational. Additionally, the act revises the $7,500 electric vehicle tax credit, encouraging the use of domestically sourced minerals. The legislation aims to reduce reliance on foreign minerals while extending EV incentives through 2032.

NioCorp Developments Ltd. (TSX: NB, OTCQX: NIOBF) has successfully closed a non-brokered private placement, raising approximately C$4.8 million by issuing 4,981,035 units at C$0.96 each. Each unit includes one common share and a warrant to purchase a common share at C$1.10 until July 1, 2024. The proceeds will advance the Elk Creek Critical Minerals Project and support general corporate purposes. A cash commission of C$62,496 and finder warrants were also paid to finders. Securities sold are subject to a four-month hold, expiring on November 1, 2022.

NioCorp Developments Ltd. has filed a Technical Report for its Elk Creek Project, confirming it has the second largest indicated rare earth resource in the U.S. The study indicates 632.9 kt of contained total rare earth oxides and emphasizes the potential for producing rare earth byproducts along with niobium, scandium, and titanium. The project’s expected life has increased to 38 years, with a pre-tax NPV rising to $2,819 million. NioCorp aims to capitalize on the growing demand in sectors like electrified transportation and renewable energy.

NioCorp Developments Ltd. announced the promotion of Jim Sims to Chief Communications Officer on June 7, 2022. Sims, previously the Vice President of External Affairs, will oversee investor relations, government relations, and public relations, supporting capital market initiatives. CEO Mark A. Smith praised Sims' dedication to advancing the Elk Creek Project, which aims to produce critical minerals including Niobium, Scandium, and Titanium. The company is also evaluating potential rare earth byproducts from this project.