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MarketBeat Week in Review – 08/10 - 08/14NioCorp Developments NASDAQ: NB detailed its recently published 2026 technical report for the Elk Creek Critical Minerals Project in Nebraska, outlining an expanded product suite, updated mine design and projected economics for the proposed underground mining and processing operation.

Mark Smith, NioCorp’s executive chairman, president and CEO, said the technical report and updated feasibility study were supported by hundreds of consultants and certified by 15 qualified professionals. He said the company prioritized study quality over speed and that the additional work is expected to support project financing efforts, including discussions with the Export-Import Bank of the United States, or EXIM.

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Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?The updated study was undertaken in part to conduct additional infill drilling and convert the company’s revised metallurgical process flow diagram into feasibility-level engineering. Smith said the drilling produced tighter spacing and improved definition of the ore body, while additional geotechnical, geohydrologic, paste-tailings and grouting studies were completed to strengthen the mine plan.

Expanded Product Portfolio and Economic Projections
The Elk Creek project is now expected to produce eight products, compared with three products in NioCorp’s 2022 feasibility study. The expected products include ferroniobium, scandium, titanium tetrachloride, neodymium-praseodymium oxide, dysprosium oxide, terbium oxide, samarium-europium-gadolinium carbonate concentrate, and a heavy rare earth carbonate concentrate.

Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not DemandSmith said the expanded product mix raises projected life-of-mine gross revenue to $37.4 billion, compared with $21.9 billion in the 2022 study. The company projects gross revenue of $815 per ton and operating expenses of $255 per ton, resulting in a projected life-of-mine margin of $560 per ton.

Pre-tax net present value of $4.1 billion, using an 8% discount rate
Average annual cash flow of $519 million over the mine life
Average annual EBITDA of $608 million
Estimated upfront capital expenditures of $1.85 billion
Projected 40-year mine life and less than three-year after-tax payback period

Smith said the higher capital expenditure estimate reflects inflation as well as added processing capabilities, including rare earth solvent extraction and chlorination processes for niobium and titanium products.

He also pointed to what he described as a pricing “bifurcation” between China and markets outside China for certain critical minerals. Smith said NioCorp has seen scandium pricing outside China ranging from $3,000 to $6,500 per kilogram, compared with approximately $800 to $850 per kilogram in China. He cited similar differences for terbium and dysprosium prices.

Mine Access and Processing Changes
Scott Honan, NioCorp’s chief operating officer and president of Elk Creek Resources Company, said the new mine plan replaces a planned twin-shaft design with twin ramps extending from the surface. The prior shaft approach would have required ground freezing and specialized shaft equipment, while the ramp configuration is expected to provide faster access to the ore body.

According to Honan, the updated mine design is expected to reach full production in 35 months, compared with a longer development period under the earlier plan. The company also plans to use a Railveyor system to move material from the underground mine to the surface plant rather than relying on diesel equipment and vertical hoisting through shafts.

NioCorp also revised its energy plan. Rather than primarily relying on a local utility connection, the company now expects to use an on-site microgrid powered by small natural-gas-fired generators. A third party is expected to own, install, operate and maintain the generating equipment, Honan said. The company will still require a natural gas pipeline connection to the site.

On the processing side, the revised plan introduces calcining and calcium-magnesium removal before hydrochloric and sulfuric acid leaching. Honan said these front-end steps reduce the mass moving through the remainder of the plant by about half and remove most acid-consuming materials, reducing acid demand and eliminating the need for an on-site acid plant.

Reserves, Resources and Financing Steps
NioCorp reported 45.9 million tons of proven and probable reserves supporting a 40-year operating life. Honan said the company’s 2025 infill drilling program established a proven reserve category, the highest reserve classification, and also increased inferred resources.

The company reported measured resources of 21.7 million tons, indicated resources of 187.4 million tons and inferred resources of 169.2 million tons. Honan said the ore body remains open in several directions and could support a longer mine life if additional resources are converted into reserves.

Annual production is projected to include more than 8,000 tons of ferroniobium, 118 tons of scandium and more than 59,000 tons of titanium tetrachloride, along with the planned rare earth products.

Smith said NioCorp has begun review sessions with EXIM following publication of the feasibility study. He said EXIM previously indicated it could provide up to approximately $800 million in financing based on a 65% debt-to-equity ratio, but will now reassess potential financing levels based on the updated project economics and capital requirements.

The company is also working to finalize an offtake agreement with Traxys. Smith said NioCorp expects two commercial agreements to cover 100% of project offtake: ThyssenKrupp would receive 50% of ferroniobium output, while Traxys would receive the remaining products and ferroniobium volumes under a separate agreement. He said NioCorp intends to pursue volumetric take-or-pay arrangements rather than agreements with price ceilings.

Before final financing, NioCorp expects to advance detailed engineering and negotiate an engineering, procurement and construction contract acceptable to the company, its EPC contractor and EXIM.

About NioCorp Developments (NASDAQ:NB)NioCorp Developments Ltd is a North American critical minerals development company focused on advancing its flagship Elk Creek Critical Minerals Project in southeastern Nebraska. The company’s primary business activity centers on the exploration, evaluation and development of a polymetallic deposit that hosts significant quantities of niobium, scandium and titanium. Through metallurgical testing and prefeasibility studies, NioCorp aims to produce high-purity ferroniobium, high-purity titanium dioxide slag and scandium oxide for industrial, aerospace and clean-energy applications.

At the heart of NioCorp’s operations is the Elk Creek project, where the company holds surface rights and mineral leases across approximately 7,100 acres of land.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Agreement Builds on NioCorp and Lockheed Martin's Skunk Works® Joint Development Program to Develop Scandium-Based Defense Technologies

Pentagon-Funded Joint Development Effort Is Helping to Establish America's First-Ever Integrated Scandium-to-Warfighter Supply Chain

CENTENNIAL, CO / ACCESS Newswire / August 4, 2026 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, announced the signing of a non-binding Memorandum of Understanding ("MOU") with Lockheed Martin regarding the potential purchase of up to 15 tonnes/year of scandium oxide from NioCorp, in either oxide form or in the form of aluminum-scandium alloys, over the next 10 years.

NioCorp plans to produce approximately 100 tonnes/year of scandium oxide from its Nebraska-based Elk Creek Critical Minerals Project, once project financing and construction are complete. NioCorp currently produces 4% aluminum-scandium master alloy in the U.S., utilizing market-sourced scandium oxide. NioCorp has said it also intends to produce finished aluminum-scandium alloy ingots that vary in scandium content from 0.2% to 0.8% for customers in both the commercial and defense markets.

"Lockheed Martin has earned its reputation as one of the strongest names in American defense and aerospace, and as a U.S. critical minerals company, we're proud to be working toward supplying them with the scandium products they need," said Mark A. Smith, NioCorp CEO and Chairman. "Both companies recognize how important scandium has become to the future of American defense technology as well as the imperative of establishing a domestic scandium mine-to-warfighter supply chain. NioCorp is already investing to build out this supply chain as rapidly as possible, including the ability to make aluminum-scandium master alloy today. Clearly, the case for reducing our reliance on China for scandium and other critical minerals has never been stronger."

"Lockheed Martin has long valued partnerships that strengthen the U.S. industrial base and support our warfighters," said Tyler Robinson, vice president, Technology Roadmaps, Lockheed Martin Skunk Works. "We appreciate the work NioCorp is doing to establish a domestic source of scandium oxide as well as the company's aluminum-scandium alloying capabilities, and we look forward to continuing to evaluate that supply as part of our broader alloy development efforts."

The MOU builds on an existing joint development program with Lockheed Martin's Skunk Works to develop scandium-based aluminum alloy components for modern fighter aircraft. That program, announced in October 2025, is funded by the U.S. Department of War ("DoW") as part of a $10 million award to NioCorp's subsidiary, Elk Creek Resources Corp. ("ECRC"), under Title III of the Defense Production Act, and is intended to help establish the United States' first domestic scandium mine-to-master-alloy supply chain.

The MOU is non-binding, and both companies have agreed to negotiate in good faith a definitive agreement as rapidly as possible. There is no assurance that a definitive agreement will be reached, or as to its eventual terms.

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FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to access the full amount of the expected net proceeds under the standby equity purchase agreement (the "Yorkville Equity Facility Financing Agreement") with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, the Yorkville Equity Facility Financing Agreement or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; and NioCorp's lack of insurance covering all of NioCorp's operations.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

SOURCE: NioCorp Developments Ltd.