NioCorp Developments Reports Increased Net Loss of $48.6 Million for Fiscal Year Ending June 30, 2026

NioCorp Developments Ltd. reported a significant increase in its net loss for the fiscal year ending June 30, 2026, amounting to $48.6 million, compared to a net loss of $17.4 million in the previous fiscal year. The company's operating expenses rose sharply to $38.3 million from $12 million, primarily driven by increased exploration expenditures and general administrative costs associated with advancing the Elk Creek Project. The company has not yet generated any revenue from mining operations, as it remains in the development stage, focusing on securing project financing and advancing its critical minerals project in Nebraska.

The financial performance reflects a substantial increase in exploration activities, particularly the completion of the 2026 Elk Creek Study, which has led to updated mineral resource and reserve estimates. The company reported total assets of $466.9 million as of June 30, 2026, a significant rise from $43.8 million the previous year, largely due to net proceeds of approximately $467.2 million from equity financing transactions. This financing included multiple registered offerings and the exercise of warrants, which bolstered the company's cash reserves to $415 million.

Strategically, NioCorp has made notable advancements, including the acquisition of additional land and mineral rights, and the completion of the 2025 Drilling Program, which aimed to convert indicated resources into measured resources. The company also entered into a Project Sub-Agreement with the U.S. Department of War, potentially providing up to $10 million in reimbursements upon achieving specific project milestones. Furthermore, construction of the mine portal for the Elk Creek Project commenced in February 2026, with an overall budget of $44.6 million.

Operationally, NioCorp's workforce consisted of 14 full-time employees and four contract employees as of June 30, 2026. The company is focused on advancing its Elk Creek Project, which is expected to produce niobium, scandium, titanium, and several rare earth products. The project is positioned to meet growing demand for critical minerals, particularly in light of geopolitical tensions affecting supply chains. The company anticipates that the completion of the 2026 Elk Creek Study will facilitate further financing discussions, particularly with the Export-Import Bank of the United States.

Looking ahead, NioCorp's management has indicated that the company will require additional capital to fund the construction and operation of the Elk Creek Project, with estimated upfront capital expenditures of approximately $1.85 billion. The company is actively pursuing various financing options, including debt and equity financing, to meet its long-term capital requirements. However, uncertainties in capital markets and the need for further project activities may impact the timing and availability of such financing.