NioCorp Reports $17.4 Million Net Loss for Fiscal Year Ending June 30, 2025

NioCorp Developments Ltd. reported a net loss of $17.4 million for the fiscal year ending June 30, 2025, an increase from a loss of $11.4 million in the previous year. The company's operating expenses decreased to $11.96 million from $13.76 million, primarily due to reduced employee-related costs and professional fees. The increase in net loss was attributed to non-cash losses related to the valuation of earnout shares and warrant liabilities, partially offset by lower interest expenses. The company has not generated any revenue from mining operations, as it remains in the development stage with its Elk Creek Project.

In terms of strategic developments, NioCorp has made significant progress in advancing its Elk Creek Project, which aims to produce niobium, scandium, titanium, and potentially rare earth elements. The company initiated a drilling program in April 2025 to convert a portion of its indicated resources into measured resources and to upgrade probable mineral reserves to proven reserves. This drilling campaign was completed successfully, and the results will be used to update the feasibility study for the project. Additionally, NioCorp has entered into a Project Sub-Agreement with the U.S. Department of Defense, which could provide up to $10 million in reimbursements upon achieving certain project milestones.

As of June 30, 2025, NioCorp had cash and cash equivalents of $25.6 million, a significant increase from $2 million the previous year. The company’s working capital also improved to $24.8 million from a deficit of $9 million. This financial position was bolstered by several public offerings, including a July 2025 offering that raised approximately $41.2 million. The company is actively pursuing additional financing, including a potential $800 million loan from the Export-Import Bank of the United States to fund the Elk Creek Project.

NioCorp's employee headcount remained low, with seven full-time employees and one contract employee as of June 30, 2025. The company continues to face challenges related to its development stage, including the need for significant capital to advance the Elk Creek Project to commercial production. The company has identified material weaknesses in its internal controls over financial reporting, which management is working to remediate. The outlook remains uncertain, as the company will require additional funding to meet its operational and development needs, and there is no assurance that it will be able to secure such financing on favorable terms.

Looking ahead, NioCorp plans to continue its efforts to secure necessary permits and financing for the Elk Creek Project. The company is also focused on updating its resource and reserve estimates and advancing its engineering and construction plans. However, the ability to achieve these goals is contingent upon favorable market conditions and the successful negotiation of financing arrangements. The company has expressed substantial doubt about its ability to continue as a going concern without additional capital.