NioCorp buys Nebraska land and mineral rights

NioCorp Developments Ltd., through its wholly owned subsidiary Elk Creek Resources Corp., completed the purchase of two land parcels in Johnson County, Nebraska.

Rhea-AI Filing Summary

NioCorp Developments Ltd., through its wholly owned subsidiary Elk Creek Resources Corp., completed the purchase of two land parcels in Johnson County, Nebraska. The company paid approximately $3.9 million for the Woltemath002 property and approximately $7.4 million for the Woltemath003J property, securing both surface and associated mineral rights.

The $3.9 million payment was recorded as a decrease in cash with a corresponding increase of about $0.8 million to land and $3.1 million to mineral interests. The $7.4 million payment reduced cash and increased land by about $1.5 million and mineral interests by $5.9 million. The company’s current estimated mineral resource and reserve is wholly contained within land previously acquired and the Woltemath003J property.

Insights

Mining sector analyst

NioCorp converts cash into owned land and mineral rights central to its project.

NioCorp Developments Ltd. closed long-standing option agreements to buy the Woltemath002 and Woltemath003J properties in Johnson County, Nebraska. The transactions shift approximately $3.9 million and $7.4 million from cash into tangible assets, split between land and mineral interests based on appraised values.

For Woltemath002, the company booked about $0.8 million to land and $3.1 million to mineral interests. For Woltemath003J, it recorded about $1.5 million to land and $5.9 million to mineral interests. The filing states that the current estimated mineral resource and reserve is wholly contained within land previously acquired and the Woltemath003J property, underscoring that parcel’s strategic importance.

These are cash-out transactions that increase the asset base tied directly to the Elk Creek project area. Future company disclosures may clarify how these mineral interests translate into project development milestones, capital needs, and potential production plans.

8-K Event Classification

2 items: 2.01, 9.01

2 items

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did NioCorp (NB) report in this filing?

NioCorp reported that its wholly owned subsidiary, Elk Creek Resources Corp., completed the purchase of two land parcels in Johnson County, Nebraska, including both surface and associated mineral rights.

How much did NioCorp pay for the Woltemath002 property?

The aggregate purchase price for the Woltemath002 property was approximately $3.9 million, recorded as a decrease in cash and increases to land and mineral interests on the balance sheet.

How much did NioCorp pay for the Woltemath003J property?

The aggregate purchase price for the Woltemath003J property was approximately $7.4 million, also reflected as a reduction in cash and corresponding increases to land and mineral interests.

How did NioCorp record the Woltemath002 acquisition in its accounts?

For Woltemath002, NioCorp recorded a decrease in cash of about $3.9 million, an increase in land of approximately $0.8 million, and an increase in mineral interests of approximately $3.1 million.

How did NioCorp record the Woltemath003J acquisition in its accounts?

For Woltemath003J, NioCorp recorded a decrease in cash of about $7.4 million, an increase in land of approximately $1.5 million, and an increase in mineral interests of approximately $5.9 million.

Why is the Woltemath003J property important to NioCorp?

The filing states that NioCorp’s current estimated mineral resource and reserve is wholly contained within land previously acquired by the company and the Woltemath003J property, highlighting its significance to the project.

Which subsidiary of NioCorp holds the acquired Nebraska properties?

Elk Creek Resources Corp., a wholly owned subsidiary of NioCorp Developments Ltd., holds the acquired Woltemath002 and Woltemath003J properties.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/06/2025 - 04:21 PM Learn about SEC filing dates

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 30, 2025

NioCorp Developments Ltd.

(Exact name of registrant as specified in its charter)

British Columbia, Canada
(State or other jurisdiction
of incorporation) 001-41655
(Commission File Number) 98-1262185
(IRS Employer
Identification No.)

7000 South Yosemite Street, Suite 115
Centennial, Colorado 80112
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (720) 334-7066

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, without par value	NB	The Nasdaq Stock Market LLC
Warrants, each exercisable for 1.11829212 Common Shares	NIOBW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 Emerging growth company          ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.01 Completion of Acquisition or Disposition of Assets.

On September 30, 2025, Elk Creek Resources Corp. (“ECRC”), a wholly-owned subsidiary of NioCorp Developments Ltd. (the “Company”), closed on its options to purchase two parcels of land in Johnson County, Nebraska, which include: (i) a portion of the property known as Woltemath002, consisting of approximately 105.77 acres of land (the “Woltemath002 Property”), pursuant to the terms of the Option to Purchase, dated as of December 4, 2009, as amended, between Roger and Nancy Woltemath and ECRC (the “Woltemath002 Option Agreement”), and (ii) the property known as Woltemath003J, consisting of approximately 220 acres of land (the “Woltemath003J Property” and, together with the Woltemath002 Property, the “Properties”), pursuant to the terms of the Amended and Restated Option to Purchase, dated January 4, 2017, as amended, between Victor and Juanita Woltemath (together with Roger and Nancy Woltemath, the “Owners”) and ECRC (the “Woltemath003J Option Agreement” and, together with the Woltemath002 Option Agreement, the “Option Agreements”). Pursuant to the terms of the Option Agreements, the Owners sold, transferred, conveyed and assigned to ECRC all of their respective rights, privileges, title and interest in and to the surface rights and associated mineral rights with respect to the Properties.

The Woltemath002 Option Agreement provided for a purchase price calculated based on the appraised value per acre of the Woltemath002 Property. The aggregate purchase price was approximately $3.9 million. On the closing date of the purchase of the Woltemath002 Property, the Company recorded a decrease in cash under current assets on its consolidated balance sheet of approximately $3.9 million, reflecting the payment of the purchase price and other direct costs, and recorded a corresponding increase in land under non-current assets on its consolidated balance sheet of approximately $0.8 million, reflecting the appraised value of the acquired assets, and an increase in mineral interests under non-current assets on its consolidated balance sheet of approximately $3.1 million, reflecting the remainder of the purchase price of the acquired assets.

The Woltemath003J Option Agreement provided for a purchase price calculated based on the appraised value per acre of the Woltemath003J Property. The aggregate purchase price was approximately $7.4 million. On the closing date of the purchase of the Woltemath003J Property, the Company recorded a decrease in cash under current assets on its consolidated balance sheet of approximately $7.4 million, reflecting the payment of the purchase price and other direct costs, and recorded a corresponding increase in land under non-current assets on its consolidated balance sheet of approximately $1.5 million, reflecting the appraised value of the acquired assets, and an increase in mineral interests under non-current assets on its consolidated balance sheet of approximately $5.9 million, reflecting the remainder of the purchase price of the acquired assets. The Company’s current estimated mineral resource and reserve is wholly contained within land previously acquired by the Company and the Woltemath003J Property. The above summary of the material terms of the Woltemath003J Option Agreement is qualified in its entirety by the actual terms and conditions of the Woltemath003J Option Agreement, which is filed as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3 to this Current Report on Form 8-K and is hereby incorporated by reference.

Item 9.01 Financial Statements and Exhibits.

(d)       Exhibits

Exhibit No.	Description
10.1*,**	Woltemath 003J Amended and Restated Option to Purchase, dated January 4, 2017, among ECRC and Victor L. and Juanita E. Woltemath (Previously filed as an exhibit to the Company’s Annual Report on Form 10-K (File No. 000-55710) filed with the SEC on September 16, 2020 and incorporated herein by reference).
10.2*,**	Woltemath 003J Extension to Option to Purchase, dated December 23, 2019, among ECRC and Victor L. and Juanita E. Woltemath (Previously filed as an exhibit to the Company’s Annual Report on Form 10-K (File No. 000-55710) filed with the SEC on September 16, 2020 and incorporated herein by reference).
10.3*,**	Woltemath 003J Second Extension to Option to Purchase, dated December 9, 2024, between ECRC and Juanita E. Woltemath (Previously filed as an exhibit to the Company’s Annual Report on Form 10-K (File No. 001-41655) filed with the SEC on September 11, 2025 and incorporated herein by reference).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

* Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K, which portions will be furnished to the Securities and Exchange Commission (the “SEC”) upon request.

** Certain exhibits to this agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted exhibit will be furnished to the SEC upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NIOCORP DEVELOPMENTS LTD.
Dated: October 6, 2025	By:	/s/ Neal S. Shah
		Neal S. Shah
		Chief Financial Officer