NioCorp Issues 2025 Year in Review Report

Core Insights - The year 2025 marked significant advancements for NioCorp, particularly in financing, federal support, technical development, and pre-construction efforts, laying a strong foundation for the Elk Creek Critical Minerals Project [3][4][19] - The company aims to secure full project financing and advance towards formal construction approval in 2026, which is seen as a pivotal year for the project [4][19] Financing Progress - NioCorp raised over $370 million in 2025, including $360.8 million in equity capital and $10 million from the Pentagon, marking one of the most successful fundraising years in its history [7][9] - The Export-Import Bank of the United States (EXIM) advanced the Elk Creek Project to Independent Technical Review, indicating serious consideration for a potential binding debt agreement [5][6] Federal Support - The company received up to $10 million from the Department of War under the Defense Production Act to support various technical programs, including reserve-upgrade drilling and development of scandium alloy technology [11][12] - Federal support is viewed as a strategic move to strengthen U.S. defense and aerospace supply chains [11] Technical Development - NioCorp completed a Department of War-funded in-fill drilling program, analyzing over 7,000 drill core samples to enhance the geological model and support resource conversion [13][15] - An updated Feasibility Study is expected to incorporate rare earth elements alongside niobium, scandium, and titanium, aiding in project financing efforts [15] Pre-Construction Efforts - The company has acquired all necessary land parcels for construction and received Board approval for the mine portal project, which is a significant step towards reducing execution risk [16][20] - Community support was evident with nearly 600 attendees at Town Hall events, highlighting the project's importance to Nebraska's economy [17][18] 2026 Priorities - The primary focus for 2026 is to finalize and secure full project financing, advance the EXIM due diligence process, and complete remaining equity financing [19] - Additional goals include publishing an updated Feasibility Study and establishing a domestic U.S. scandium supply chain [19]