Niocorp Developm Stock Price, News & Analysis

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.

NioCorp Developments (NASDAQ:NB) has secured a new $2 million non-revolving credit facility from CEO and Executive Chairman Mark A. Smith. This facility aims to support the company's efforts in obtaining project financing for its Elk Creek Project in Southeast Nebraska and for general corporate purposes. The credit facility terms include a 10% annual interest rate, a 2.5% establishment fee for drawdowns, a 2.5% prepayment fee, and is secured by all company assets. The facility matures on June 30, 2025.

This transaction is considered a 'related party transaction' but is exempt from formal valuation and minority shareholder approval requirements due to its value being less than 25% of NioCorp's market capitalization. The company's Audit Committee and Board of Directors have reviewed and approved the terms of this transaction.

NioCorp Developments (NASDAQ:NB) has announced the satisfaction of all remaining obligations under the original $16.0 million convertible debenture issued to Yorkville Advisors Global, LP in March 2023. This development marks a significant step for NioCorp as it continues its efforts to secure project financing for the construction of the Elk Creek Critical Minerals Project in Nebraska.

CEO Mark A. Smith expressed satisfaction with the debt extinguishment, emphasizing the company's focus on moving forward with their critical minerals project. The Elk Creek project is set to produce niobium, scandium, titanium, and rare earth elements including neodymium, dysprosium, and terbium, which are important for various high-tech and green energy applications.

NioCorp Developments, trading under the symbol NB on NASDAQ, announced that the SEC has approved a $200 million shelf registration statement on Form S-3. This registration allows NioCorp to offer and sell up to $200 million in securities, including common stock, in the U.S. as needed. The company plans to detail the terms and intended use of proceeds for each offering via a separate prospectus supplement. CEO Mark A. Smith emphasized that this approval provides NioCorp with enhanced flexibility to access capital markets efficiently. The securities will only be sold through a prospectus and accompanying prospectus supplement, available on the SEC's website.

NioCorp Developments has closed a non-brokered private placement, raising USD$0.6 million through the issuance of 315,000 units at USD$1.91 per unit. Each unit comprises one common share and one warrant, with warrants exercisable at USD$2.20 per share until June 24, 2026. The proceeds will fund the Elk Creek Critical Minerals Project and cover working capital and general corporate purposes. The issued securities are subject to a four-month-and-one-day hold period under Canadian securities laws. The offering complies with U.S. securities regulations, barring unauthorized sales within the U.S.

NioCorp has announced a live Technology Briefing Webcast on June 5, 2024, at 11 a.m. Mountain Time. The focus will be on Railveyor technology and its potential benefits for the Elk Creek Critical Minerals Mine. Railveyor executives will discuss how this technology can reduce CAPEX and OPEX costs, expedite commercial production, and lower the carbon footprint through electrification. The Optimize Group will present findings from a scoping study that evaluated the impact of using the Railveyor system instead of planned vertical shafts. The webcast will feature presentations from NioCorp's CEO and COO, Railveyor's interim CEO and EVP, and The Optimize Group's Mining Manager, followed by a Q&A session.

NioCorp Developments has engaged J.P. Morgan to assist in securing debt financing from the Export-Import Bank of the U.S. (EXIM) for its Elk Creek Critical Minerals Project. Having progressed through the first of EXIM's three Transaction Review Committee reviews, NioCorp received a preliminary indicative term sheet in April 2024. However, final loan approval from EXIM's Board of Directors is still pending. The collaboration aims to accelerate the financing and construction start of the project.

A recent study by Optimize Group Inc. suggests that NioCorp's Elk Creek Critical Minerals Mine could achieve significant economic and environmental benefits by switching to an electrified Railveyor system. This new approach could reduce initial capital expenditures (CAPEX) by 53.1%, operating expenses (OPEX) by 1.5%, and sustain capital expenses by 8.2%. The electrification could also cut the time to full production by five months and lower the mine's carbon footprint. The transition to a fully electric Railveyor system is not expected to delay the updated Feasibility Study.

Key findings include the potential for significant initial CAPEX reductions due to decreased pre-development time and infrastructure complexity, a reduction in operating cost-per-tonne of ore, and increased schedule flexibility. However, additional studies are needed to confirm these benefits.