NioDevelopments .(NB) - 2026 Q2 - Quarterly Results

Financial Performance - The net loss for the three months ended December 31, 2025, was $0.8 million, or $0.02 per share, compared to a net loss of $0.5 million, or $0.01 per share, for the same period in 2024[6] - For the six months ended December 31, 2025, the net loss was $43.4 million, or $0.44 per share, compared to a net loss of $2.5 million, or $0.06 per share, for the same period in 2024[6] - The adjusted net loss for the three months ended December 31, 2025, was $5.3 million, or $0.06 per share, compared to an adjusted net loss of $1.9 million, or $0.05 per share, for the prior-year period[6] - The adjusted net loss for the six months ended December 31, 2025, was $13.6 million, or $0.15 per share, compared to an adjusted net loss of $3.3 million, or $0.08 per share, for the prior-year period[6] - Operating cash outflows for the six-month period totaled $7.6 million, primarily due to expenditures associated with the Elk Creek drilling program and feasibility study updates[7] Cash Position - As of December 31, 2025, NioCorp had a record cash balance of $307 million, following significant derisking of the Elk Creek Critical Minerals Project[3] Project Developments - The U.S. Department of Defense awarded Elk Creek Resources Corp. up to $10 million to support activities related to the Elk Creek Critical Minerals Project[3] - NioCorp completed an infill drilling campaign and closed on the acquisition of scandium alloy manufacturing assets during the reporting period[3] - The company is developing a critical minerals project expected to produce niobium, scandium, and titanium, with potential for rare earth production[14] Risks and Uncertainties - NioCorp faces significant risks including trade policies, inflationary pressures, and climate change impacts that may affect its operations[18] - The company acknowledges the speculative nature of mineral exploration and development, which includes risks of diminishing reserves and resources[18] - NioCorp's management emphasizes the possibility of cost overruns and unanticipated expenses in development programs[18] - There are concerns regarding the management of the water balance at the Elk Creek Project site and land reclamation requirements[18] - The company has not secured insurance covering all of its operations, which poses additional risks[18] - NioCorp warns that actual results may materially differ from projections if risks or uncertainties materialize[19] - The company does not undertake any obligation to update forward-looking statements unless required by law[20] Reporting and Compliance - NioCorp plans to file its unaudited interim condensed consolidated financial statements for the three- and six-month periods ended December 31, 2025, by February 16, 2026[8]