NioCorp Developments (NB) Q1 2025 earnings summary

Executive summary

• Focus remains on advancing the Elk Creek Project in Nebraska, targeting niobium, scandium, titanium, and rare earth elements, with no current operating revenues and continued development-stage status.

• Closed a $2.5M registered offering and a $3.5M private placement in November 2024 to support working capital and project advancement.

• Management highlights ongoing efforts to secure additional project financing, including a pending application with EXIM Bank.

Financial highlights

• Net loss for the quarter ended September 30, 2024 was $2.1M, an improvement from a $3.2M loss in the prior year period.

• Cash and cash equivalents were $0.15M at quarter-end, down from $2.0M at June 30, 2024.

• Working capital deficit stood at $6.9M as of September 30, 2024.

• Operating expenses decreased year-over-year, mainly due to lower professional fees and exploration costs.

Outlook and guidance

• Company expects to operate at a loss for the foreseeable future and will require $24–25M in additional funding through June 2025 to maintain planned activities.

• Proceeds from recent offerings and the Yorkville Equity Facility provide near-term liquidity, but further capital raises are likely.

• Management is actively pursuing additional debt and equity financing but cannot guarantee success.