NioCorp Reports $5.3 Million Net Loss for Q1 2025, Advances Elk Creek Project

NioCorp Developments Ltd. reported a net loss of $5.3 million for the three months ended March 31, 2025, compared to a loss of $4.2 million for the same period in 2024. For the nine months ending March 31, 2025, the company recorded a net loss of $8.0 million, a decrease from the $11.0 million loss reported in the prior year. The company's total operating expenses for the latest quarter were $2.6 million, down from $5.1 million in the previous year, primarily due to reduced employee-related costs and professional fees. The loss per share remained consistent at $0.11 for both the three-month periods in 2025 and 2024.

In terms of financial position, NioCorp's total assets decreased to $18.5 million as of March 31, 2025, from $20.1 million at the end of June 2024. Cash and cash equivalents also fell to $1.3 million from $2.0 million during the same period. The company’s liabilities decreased significantly from $17.5 million to $9.7 million, largely due to the repayment of convertible debt and the reduction of warrant liabilities. Shareholders' equity increased to $7.5 million, up from $1.0 million, reflecting the issuance of new common stock and a reduction in accumulated deficit.

Strategically, NioCorp has made significant progress in advancing its Elk Creek Project, which focuses on the exploration and development of niobium, scandium, and titanium deposits in Nebraska. The company successfully negotiated extensions on option agreements for land parcels critical to the project, ensuring operational continuity through 2040. Additionally, NioCorp announced the launch of a new drilling campaign aimed at converting indicated resources into measured resources, which is essential for updating the feasibility study required for potential financing.

Operationally, NioCorp has not yet commenced revenue-generating activities, and as of March 31, 2025, the company had no customers or product adoption metrics to report. The company’s workforce has increased, with 47.2 million shares outstanding, up from 38.1 million shares in June 2024, indicating a strategic move to bolster its capital base. However, the company continues to face substantial doubt regarding its ability to continue as a going concern, as it will require additional financing to support ongoing operations and advance the Elk Creek Project.

Looking ahead, NioCorp plans to utilize proceeds from recent equity offerings, including approximately $20.8 million from an April 2025 public offering, to fund its operational needs and advance the Elk Creek Project. The company is actively pursuing additional financing options, including a potential $800 million debt commitment from the Export-Import Bank of the United States. However, management has acknowledged the uncertainty surrounding future funding and the challenges posed by current market conditions.