Key Takeaways MP leads with integrated rare earth operations, rising production and expanding U.S. magnet capacity.NioCorp is advancing Elk Creek with a broader product mix, but faces major financing and execution risks.Both stocks face earnings uncertainty, prompting investors to await clearer execution milestones. MP Materials (MP - Free Report) and NioCorp Developments Ltd. (NB - Free Report) are two US-based companies expected to play key roles in establishing domestic critical-mineral supply chains and reducing dependence on foreign sources.
Las Vegas-based MP Materials is an established rare earth producer with integrated mining, processing and magnet manufacturing operations. It currently has a market capitalization of approximately $10 billion. Colorado-based NioCorp, in contrast, is a development-stage company advancing its Elk Creek Critical Minerals Project in Nebraska, with a market capitalization of roughly $600 million.
The key question is which stock to bet on, MP or NB. To make an informed decision, let us analyze their fundamentals, growth potential and key challenges.
The Case for MP MaterialsMP Materials owns and operates the Mountain Pass mine in California, the only large-scale rare earth mining and processing facility in North America. It also owns the Independence facility in Fort Worth, TX, where it manufactures magnetic precursor products and began producing neodymium-iron-boron (NdFeB) permanent magnets in December 2025.
MP continues to scale production and downstream manufacturing capabilities. Neodymium-praseodymium (NdPr) production increased 41% year over year to 840 metric tons in the second quarter of 2026 despite a scheduled semiannual maintenance outage at Mountain Pass. Management expects third-quarter 2026 NdPr production to exceed 1,000 metric tons as throughput and plant reliability improve.
MP Materials remains on track to begin producing terbium and dysprosium later this year, while first samarium production is targeted for 2028. The company recently entered into a multiyear agreement to supply gadolinium oxide to a leading U.S. aerospace and defense manufacturer.
Meanwhile, MP is progressing with its magnet manufacturing operations. During the second quarter, MP Materials delivered magnets to General Motors Company (GM - Free Report) for in-vehicle qualification testing and expects to begin commercial shipments in the fourth quarter, followed by a steady production ramp.
MP reported an 89% year-over-year increase in second-quarter 2026 revenues to $108.5 million. The company also recorded $17.58 million in income tied to a price protection agreement (PPA) with the Department of War (DoW). Cost of sales, however, increased 43.3% year over year, and selling, general and administrative expenses rose 28.2%. Start-up costs surged to $14.4 million from $0.76 million in the year-ago quarter as MP advanced initial magnet production.
The company reported an operating loss of $32 million, narrower than the loss of $43.9 million in the year-ago quarter. MP reported an adjusted loss of one cent per share in the second quarter of 2026, a significant improvement from the loss of 13 cents in the year-ago quarter.
Looking ahead, the company expects additional cost pressures as production scales. Start-up costs are also likely to increase further in the coming quarters.
MP Materials has also worked with U.S. and allied drone manufacturers to launch Project Swarm, an industrial coordination initiative designed to aggregate and standardize future magnet demand. It has already signed subscription agreements with several participants. The company’s partnership with Apple on magnet recycling, magnet production and joint development also continues to advance.
Meanwhile, construction of the 10X facility remains on track. The second U.S. rare earth magnet facility is expected to begin commissioning in 2028 and produce approximately 7,000 metric tons of magnets annually. Combined with the 3,000-metric-ton capacity of the Independence facility, MP’s U.S. magnet capacity is expected to reach 10,000 metric tons annually.
The Case for NioCorpNioCorp’s primary focus is advancing the Elk Creek Critical Minerals Project toward commercial production. The company recently released an updated 2026 Feasibility Study for the Elk Creek project. The project is expected to produce eight products compared with three earlier. This includes ferroniobium, scandium trioxide, titanium tetrachloride and several rare earth oxide products, including NdPr, dysprosium oxide and terbium oxide, samarium-europium-gadolinium carbonate and heavy rare earth carbonate. The expanded product mix is expected to provide a more diversified revenue base and reduce dependence on any single commodity.
Over the projected 40-year mine life, the Elk Creek Project is projected to generate approximately $37.4 billion in life-of-mine revenues, average annual EBITDA of $608 million and average annual operating cash flow of $519 million. The study estimates an upfront capital requirement of approximately $1.85 billion.
NioCorp, being still in the development stage, has yet to generate revenues from mining operations. The company continues to incur operating expenses primarily related to costs incurred for the advancement of the Elk Creek Project and the activities necessary to support corporate and shareholder duties, resulting in losses.
In February 2026, NB commenced construction of the main underground portal for its Elk Creek Project, marking a shift from planning to pre-construction. NioCorp has raised more than $500 million since January 2025, has received a $10 million Pentagon Title III award and is under consideration by the U.S. Export-Import (EXIM) Bank for debt financing of up to 65% of the project’s capex costs. Notably, the completion of the 2026 Feasibility Study will satisfy a key EXIM Bank due diligence requirement.
On the commercial front, NioCorp has signed non-binding agreements aimed at establishing future markets for its planned output. These include a memorandum of understanding with Lockheed Martin Corporation (LMT - Free Report) and a non-binding term sheet with Traxys to market and sell minerals from the Elk Creek Project.
These developments improve the project's strategic positioning, particularly as the United States seeks to reduce dependence on imported critical minerals. However, investors should note that Elk Creek remains a development-stage project, and its projected economics and production timelines are subject to financing, construction execution, commodity prices and other risks.
How do Estimates Compare for MP & NB?The Zacks Consensus Estimate for MP Materials’ fiscal 2026 earnings is pegged at eight cents per share, indicating a turnaround performance from the loss of 24 cents in 2025. The estimate for MP Materials’ 2027 earnings is pegged at 88 cents per share, implying 1,009% year-over-year growth.
The Zacks Consensus Estimate for NioCorp’s fiscal 2026 earnings is pegged at a loss of 46 cents per share, wider than the loss of 35 cents in fiscal 2025. The fiscal 2027 estimate is at a loss of 32 cents per share.
Image Source: Zacks Investment Research
Both estimates for MP Materials’ 2026 and 2027 have been revised downward over the past 60 days. Estimates for NioCorp’s fiscal 2026 have moved up in the past 60 days, while the estimates for fiscal 2027 have moved down. This is shown in the chart below.
Image Source: Zacks Investment Research
MP vs. NB: Price Performance & ValuationOver the past year, MP Materials stock has declined 21.1% compared with NioCorp’s 10.2% fall.
Image Source: Zacks Investment Research
MP Materials is currently trading at a price-to-book ratio of 5.11, while NioCorp is trading at a lower 1.38.
Image Source: Zacks Investment Research
MP Materials or NioCorp: Which Stock is the Better Buy?Both MP Materials and NioCorp stand to benefit from growing U.S. efforts to establish secure domestic supply chains for rare earths and other critical minerals.
MP Materials currently has a clear advantage in terms of operational maturity. Its integrated Mountain Pass operations, growing rare earth production, expanding magnet manufacturing capacity and strategic partnerships with customers and the U.S. government provide tangible growth opportunities. However, substantial investments in downstream expansion and production ramp-ups could continue to pressure near-term profitability.
NioCorp offers exposure to a broader portfolio of critical minerals and has made progress in advancing the Elk Creek Project. The updated feasibility study points to potentially attractive long-term economics, while government support and commercial discussions could strengthen the project's strategic importance. Nevertheless, the company faces significant execution and financing risks as it works to transition from development into construction and commercial production.
Given the downward revisions to earnings estimates and the risks associated with their respective expansion plans, investors may prefer to wait for improved earnings visibility and clearer execution milestones before taking positions. Both MP and NB currently carry a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
NioCorp 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.
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.
Smith 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.
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.
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David Hamm Joins as Founding Partner as Growing Demand for Flexible Legal Talent Drives Continued Expansion
, /PRNewswire/ -- Latitude, a Chambers and Partners globally ranked flexible legal talent company serving legal departments and law firms throughout the U.S. and internationally, today announced the opening of its newest regional office in Denver, to be led by David Hamm.
A former public company general counsel and Big Law alum with nearly two decades of legal experience, Hamm will support corporate legal departments and law firms, providing former in-house and Big Law attorneys for contract engagements, secondments, and permanent hires.
David Hamm joins Latitude as founding Partner of the company's Denver office, bringing nearly two decades of experience spanning Big Law and public company legal leadership. The Denver office builds on Latitude's longstanding work with legal teams throughout Colorado and the Mountain West and is the latest step in the company's continued expansion, driven by increased demand for on-demand attorneys with Big Law and in-house counsel experience who can hit the ground running.
"AI-related growth, market uncertainty, and the continued unbundling of legal work are creating new pressures for legal teams to move faster while staying lean and agile," said CEO Ross Booher. "We're seeing growing demand for the kind of on-demand attorneys Latitude specializes in providing: attorneys who can use new technology while bringing the judgment, legal acumen, and business perspective gained through years of in-house counsel and law firm experience. David understands that balance firsthand, bringing extensive legal and business experience alongside expertise in using AI to superpower experienced in-house counsel. We're excited to welcome him to the team."
"The relationships I've built throughout my career have always been the most rewarding part of practicing law," said Hamm. "As a general counsel, I also understood the value of having people I trusted who could not only listen, understand what my team needed, and offer thoughtful options—but actually execute and own the outcome. I'm excited to join a team that values those same long-term relationships, quality, responsiveness, and finding the right fit for both clients and attorneys."
Before joining Latitude, Hamm served as General Counsel of NioCorp Developments Ltd. (NASDAQ: NB). Earlier in his career, he practiced at Am Law 200 firm Jackson Walker and Kean Miller LLP before holding senior in-house legal leadership roles at Lumen Technologies and Summit Materials. He has also taught securities regulation as an adjunct professor at the University of Denver Sturm College of Law, the University of Colorado Law School, and Louisiana State University Law Center. Hamm earned his J.D. from Louisiana State University and an LL.M. from Georgetown University Law Center.
About Latitude
Latitude is an attorney-led flexible legal talent company serving corporate legal departments and law firms. We specialize in providing proven former in-house counsel and Big Law attorneys across dozens of practice areas and industries for contract engagements and permanent positions requiring sound judgment, expertise, and adaptability. Our network includes thousands of attorneys across all fifty states and numerous international locations. Latitude has corporate offices across the country. Since 2013, organizations ranging from Fortune Global 100 companies, Global 50 law firms, and AI-native firms to high-growth portfolio companies, government agencies, and boutiques have trusted Latitude to help them navigate fluctuating workloads, evolving legal technology, and key hiring decisions. Latitude is a Chambers and Partners globally ranked company.
CENTENNIAL, CO / ACCESS Newswire / August 10, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, today announced that it will host a live webcast on Tuesday, August 11, 2026, at 10:00 AM ET to discuss the results of its updated feasibility study for the Elk Creek Critical Minerals Project (the "Elk Creek Project").
NioCorp Executive Chairman and CEO Mark A. Smith and Chief Operating Officer Scott Honan will host the 1-hour call and review key results of the updated feasibility study followed by a question-and-answer session with analysts and investors.
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. Forward-looking statements may include, but are not limited to, statements regarding statements made during the webcast; NioCorp's expectation of producing niobium, scandium, and titanium, and the potential of producing rare earths, at the Elk Creek Project; and NioCorp's ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. 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 aluminum scandium 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 SEC and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to consummate the Offering; NioCorp's ability to use the net proceeds of the Offering in a manner that will increase the value of shareholders' investment; 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 Defense; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States 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.
NioCorp Developments is rated a speculative Buy with a conditional $6.50 price target, hinging on successful project financing for Elk Creek. NB's valuation is deeply discounted versus project NPV, reflecting significant construction and financing risks, with current liquidity only extending its operational lifeline. Project economics are based on 2019 costs, and the $1.141 billion capex requires substantial external financing; EXIM and Traxys agreements are not binding or sufficient.
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.
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.
The CEO of NioCorp Developments (NB +11.39%) just appeared on CNBC and delivered some big news to investors. That has investors jumping into the U.S.-based miner's stock today.
NioCorp stock jumped 12% at the open after CEO Mark Smith's appearance on Squawk Box Asia last night. Shares remained 10.7% higher as of 11:30 a.m. ET. Here's what he said.
Image source: Getty Images.
Critical mineral deal coming On Jan. 14, 2026, President Trump signed a Section 232 proclamation instructing the U.S. Secretary of Commerce and the U.S. Trade Representative to negotiate agreements with trading partners to address the potential national security threat posed by the importation of processed critical minerals.
The president imposed a 180-day deadline that has now ended, after which he could take further action to ensure national security. In his interview with CNBC, the NioCorp CEO noted that discussions with U.S. allies are ongoing to secure access to rare-earth and critical minerals.
He perhaps surprised investors, though, when Smith said Japan, the EU, and Mexico are currently far along in discussions with the U.S., with deals potentially being announced "literally any day."
Today's Change
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NioCorp has been assessing the possibility of producing several magnetic rare-earth elements from its Elk Creek Project, and Smith said the company is committed to pursuing the project. Any price floor will further enhance financing and returns on that project, Smith said.
That has investors jumping into this speculative name today. For investors who don't wish to put all their eggs in one basket, there are also several rare-earth exchange-traded funds (ETFs) to consider.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
CENTENNIAL, CO / ACCESS Newswire / July 13, 2026 / Mark A. Smith, Executive Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), will appear on CNBC's "Squawk Box Asia" program today at 8:30 p.m. ET, hosted by Chery Kang and Sri Jegarajah.
Mr. Smith was invited on the program to discuss the outlook for the U.S. critical minerals industry, including progress toward expanding domestic production, challenges facing supply chain and economic security, and NioCorp's priorities as it advances the Elk Creek Critical Minerals Project in Nebraska.
Mr. Smith's interview will be available for replay on CNBC's website following the broadcast.
Squawk Box Asia is CNBC Asia's flagship business news program, delivering live market coverage and analysis of the business stories shaping Asia and the global economy. The program features interviews with senior business leaders, policymakers, and market experts on the issues influencing global markets and international trade.
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, statements made during the CNBC program; 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.
Cramer recommended buying SoFi Technologies, Inc. (NASDAQ:SOFI). “We got back to $18 and I said, time to buy. It’s hanging around that level,” he added.
SoFi Technologies shares traded higher on Thursday as investors reacted to continued insider buying from CEO Anthony Noto, with the broader tape also leaning risk-on in tech.
Innodata Inc. (NASDAQ:INOD) is a “data engineering company, and this market likes data engineering, so I’m gonna say it’s fine,” Cramer said. “It’s a little too speculative for me.”
Cramer said he is not recommending buying Rivian Automotive, Inc. (NASDAQ:RIVN) as it is losing too much money.
Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive on June 10 and maintained a $23 price target.
The Mad Money host said he can’t think of a reason to own Tractor Supply Company (NASDAQ:TSCO).
Cramer recommended selling SoundHound AI, Inc. (NASDAQ:SOUN), calling it a “meme stock.”
On the earnings front, SoundHound reported first-quarter revenue of $44.20 million on May 7, beating the consensus estimate of $42.56 million. The conversational AI company reported an adjusted loss of six cents per share for the quarter, missing estimates for a loss of four cents per share, according to Benzinga Pro.
Cramer said no to Boston Scientific Corporation (NYSE:BSX).
Price Action:
SoFi shares gained 2.8% to settle at $17.91 on Thursday. Rivian Automotive shares gained 1.6% to close at $16.52. Tractor Supply shares rose 1.7% to close at $30.24 on Thursday. Innodata shares declined 6.9% to settle at $95.50. SoundHound shares gained 2.3% to close at $7.12 on Thursday. Boston Scientific shares gained 0.8% to settle at $45.29. Photo via Shutterstock
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CENTENNIAL, CO / ACCESS Newswire / April 6, 2026 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) announced voting result details from the election of directors at its 2025 Annual General Meeting (the "AGM"), held on April 6, 2026 in Denver, CO.
At the AGM, the following six nominees were elected as Directors of the Company to serve until its next annual meeting of shareholders, or until their successors are elected or appointed: Tony Fulton, Nilsa Guerrero-Mahon, Dean Kehler, Michael Maselli, Peter Oliver and Mark A. Smith.
Shareholders also voted in favor of: (i) setting the number of directors at six; (ii) appointing Deloitte & Touche LLP as the Company's auditors for the ensuing year; (iii) approving, on a non-binding, advisory basis, the compensation of the Company's named executive officers; (iv) approving the amendment and restatement of the Company's Long Term Incentive Plan; and (v) approving the amendment and extension of the Company's Shareholder Rights Plan until its 2027 AGM.
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. 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 ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation. 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 aluminum scandium 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 SEC and with the applicable Canadian securities regulatory authorities and the following: NioCorp's ability to consummate the Offering; NioCorp's ability to use the net proceeds of the Offering in a manner that will increase the value of shareholders' investment; 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 Defense; NioCorp's ability to receive a final commitment of financing from the Export-Import Bank of the United States 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.
Reaching a Definitive Agreement Positions NioCorp to Potentially Sell All of its Planned Critical Minerals Products for the First 10 Years of Operations
Agreement Envisions a Separate Potential Strategic Investment by Traxys of up to $30 Million in NioCorp
Traxys Plays a Key Role in President Trump's Project Vault, a Strategic U.S. Government-Industry Partnership to Facilitate Sales of Critical Minerals Between Producers and Large Manufacturers
CENTENNIAL, CO / ACCESS Newswire / April 9, 2026 / NioCorp Developments Ltd. ("NioCorp ," "our ," or the "Company") (NASDAQ:NB), a leading U.S. developer of critical minerals, today announced that it has entered into a non-binding agreement (the "Term Sheet") with Traxys North America LLC ("Traxys") outlining a long-term marketing and offtake arrangement for NioCorp's remaining planned critical minerals products from its Elk Creek Critical Minerals Project (the "Elk Creek Project").
Subject to a definitive contract being executed between NioCorp and Traxys, NioCorp would be positioned to sell out of its planned critical minerals products for the first 10 years of operation, following the successful completion of project financing and commencement of commercial production. NioCorp has already placed under contract 75% of its planned ferroniobium production and 12% of its planned scandium oxide production.
Traxys could also become a shareholder of NioCorp, while also playing a key role in President Trump's recently announced Project Vault, which aims to facilitate sales of critical minerals between large manufacturers and critical minerals producers.
"Upon execution of definitive agreements with Traxys, we believe that this initiative moves NioCorp closer to securing full project financing for the Elk Creek Project," said Mark A. Smith, CEO and Executive Chairman of NioCorp. "Together with our existing offtake agreement with ThyssenKrupp for 50% of our planned ferroniobium production during the first 10 years of operations, a definitive deal with Traxys would lead to the sale of all our remaining planned products for the first 10 years of operations. This would address one of the key remaining due diligence items in the Export-Import Bank of the United States ("EXIM") review of our proposed debt financing package."
Mr. Smith said: "As Traxys is one of the world's leading physical commodities traders and a key participant in Project Vault, this alignment has significance beyond a typical marketing deal. We could not be more proud to expand our partnership with the Traxys organization and its leadership."
"The Elk Creek Project represents a key future source of critical minerals for U.S. and allied markets," said Mark Kristoff, CEO of Traxys. "The United States currently has no primary domestic production of niobium or scandium. Aside from limited production of the magnetic rare earths neodymium and praseodymium, the U.S. remains 100% dependent on foreign producers of heavy magnetic rare earth elements. Bringing new domestic supplies of these critical minerals into the market is strategically and commercially vital for the United States. Expanding our marketing role with NioCorp further supports that goal. As a Project Vault participant, we are fully aligned with the national effort to strengthen U.S. critical mineral supply chains using products sourced domestically from the Elk Creek Project in Nebraska."
The Term Sheet provides for Traxys to become the exclusive global marketing partner and sales channel for a wide range of products expected to be produced at NioCorp's Elk Creek Project, including but not limited to: ferroniobium (FeNb), niobium pentoxide (Nb₂O₅), scandium oxide (Sc₂O₃), scandium metal, aluminum-scandium master alloys, titanium dioxide (TiO₂), titanium chloride, and potentially various rare earth elements such as dysprosium, praseodymium, neodymium-praseodymium alloy, samarium, europium, gadolinium, and terbium (collectively, the "Products"). 1
Traxys currently has commercial offtake agreements covering 25% of the Company's planned ferroniobium production and up to 12% of its planned scandium production, both over the first 10 years of NioCorp's operations. Under the proposed offtake agreement, this relationship would be expanded to include an additional 25% of the planned ferroniobium production on a take-or-pay basis and the remaining scandium production, as well as 100% of planned production of all other Products, on a best-efforts basis for the first ten years of operations, subject to specified obligations and other terms.
If definitive agreements are executed, this expanded arrangement, together with the Company's existing ferroniobium offtake agreement with Thyssen Metallurgical Products GmbH ("ThyssenKrupp"), would result in all planned production from the Elk Creek Project being subject to offtake arrangements for the first ten years of operations.
The Term Sheet also contemplates a potential strategic equity investment by Traxys of up to $30 million in NioCorp, subject to due diligence, negotiation, and execution of definitive agreements, regulatory approvals, and other customary closing conditions.
Traxys is a key participant in Project Vault, an initiative aimed at strengthening U.S. critical minerals supply chains backed by EXIM. NioCorp is also working with EXIM on a potential debt financing package for its Elk Creek Project. Although the Term Sheet is separate from these initiatives, NioCorp, EXIM, and Traxys share a focus on developing domestic supply chains for critical minerals.
Key Commercial Terms
The Term Sheet envisions that Traxys will serve as the exclusive offtake and marketing partner for all planned production from the Elk Creek Project during the first ten years of operation, except for the 50% of ferroniobium allocated pursuant to NioCorp's existing offtake agreement with ThyssenKrupp.
Products will be priced at current market rates or according to mutually agreed indices or pricing formulas, with standard deductions for marketing, logistics, and financing costs, as well as commissions. Ferroniobium volumes are expected to be subject to take-or-pay obligations, while other products will be marketed on a best-efforts basis.
Subject to the execution of definitive agreements, the offtake arrangement would have an initial term of ten years, starting upon reaching nameplate production capacity, with provisions for extension. Commercial production is expected to begin within a set period after execution, contingent on receiving project financing and other customary conditions.
The Term Sheet also envisions that Traxys will serve as the marketing intermediary for other product sales, including certain third-party commercial agreements identified by NioCorp, with the parties working in good faith to structure and carry out such transactions.
NioCorp and Traxys plan to work together in good faith to negotiate and finalize definitive agreements based on the terms outlined in the Term Sheet; however, there is no guarantee that these agreements will be signed or that the transactions will be completed.
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 reaching a definitive agreement with Traxys; statements regarding the terms of the potential definitive agreement with Traxys; statements regarding a separate potential strategic investment by Traxys in NioCorp; statements regarding the expected benefits of the Term Sheet, and the potential definitive agreement, with Traxys, including that a definitive deal with Traxys could lead to the sale of all of NioCorp's remaining planned products for the first 10 years of operations; statements regarding the Company's debt financing application process with EXIM; 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.
1 The Company's current Mineral Resource includes rare earth elements and NioCorp is currently working to add rare earths to its Mineral Reserve.
NioCorp Developments Ltd. (NB - Free Report) closed the last trading session at $5.14, gaining 4.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $11.23 indicates an 118.5% upside potential.
The average comprises three short-term price targets ranging from a low of $8.70 to a high of $15.00, with a standard deviation of $3.33. While the lowest estimate indicates an increase of 69.3% from the current price level, the most optimistic estimate points to a 191.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in NB. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why NB Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 19.3% over the past month, as two estimates have gone higher compared to no negative revision.
Moreover, NB currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much NB could gain, the direction of price movement it implies does appear to be a good guide.
NioCorp CEO Mark Smith to Participate in a Fireside Chat at 10:00 AM ET and a Critical Minerals to Alloys & Vertical Integration Panel at 1:00 PM ET
CENTENNIAL, CO / ACCESS Newswire / April 15, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. developer of critical minerals, is pleased to announce that Executive Chairman and CEO Mark A. Smith will participate in Maxim Group's virtual "Mining The Industrial Supply Chain" conference on Tuesday, April 21, 2026.
Mr. Smith will participate in a virtual fireside chat at 10:00 AM ET, where he is expected to highlight the Elk Creek Critical Minerals Project and NioCorp's ongoing efforts to establish a secure domestic U.S. supply chain for niobium, scandium, titanium, and magnetic rare earth elements.
Mr. Smith also will participate in the Critical Minerals to Alloys & Vertical Integration panel discussion at 1:00 PM ET, where he is expected to discuss the opportunities and challenges facing the U.S. as it works to establish secure domestic supply chains for these elements to support defense and industrial applications.
Hosted by Tate Sullivan, Senior Research Analyst at Maxim Group, the all-day virtual conference will feature conversations on the future of critical mineral production and the industrial supply chain. Topics are expected to include the availability of private capital, including bank debt and industrial customer investments, for critical mineral projects, with a focus on price floor indications and backstop capital from the U.S. government, as well as vertical integration opportunities as mining companies explore producing solvents and specialty alloys for defense and industrial applications. The conference will be held live on Maxim Group's digital platform.
Individuals can register for the free virtual conference here: https://digital.maximgrp.com/events/mining-the-industrial-supply-chain-04212026.
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, statements made during the live webcast and conference, 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.
State to Provide ~$200 Million in Potential Tax Incentives for NioCorp Over First 10 Years of Operations Upon NioCorp Meeting the Program's Job Creation and Investment Requirements
Signing of Legislation Supports Elk Creek Project Delivering ~450 Permanent Jobs, ~$6.59 Billion in Operating Expenses Over Project Life, and Hundreds of Millions in New State and Local Tax Revenue to Nebraska
CENTENNIAL, CO / ACCESS Newswire / April 20, 2026 / NioCorp Developments Ltd. ("NioCorp," "our," or the "Company") (NASDAQ:NB), a leading U.S. critical minerals developer, today announced that the State of Nebraska has enacted legislation designed to give NioCorp greater flexibility in qualifying for approximately $200 million over 10 years in state tax benefits in return for NioCorp investing hundreds of millions of dollars in Nebraska and creating approximately 450 full-time equivalent jobs in the state.
Nebraska Governor Jim Pillen signed the legislation into law on April 16 after the Nebraska legislature enacted it on April 10, 2026. The bill included a range of tax incentives for businesses and projects statewide. For NioCorp, the legislation extends the period during which companies like NioCorp must meet Tier 6 Nebraska Advantage Act employment and investment requirements.
"Projects like Elk Creek don't come along often for rural Nebraska, and when they do, we need to make sure the state is doing everything it can to help them succeed," said Sen. Bob Hallstrom of Syracuse, NE. "Nebraska wants to be a place where companies invest and grow, and this legislation reinforces that commitment. For southeast Nebraska, that means hundreds of good-paying jobs and lasting economic growth for communities that have been waiting a long time for this kind of opportunity. I was proud to sponsor this provision and grateful to my colleagues and Governor Pillen for getting it across the finish line."
"If we want to grow our economy, create new high-paying, high-skill jobs, and attract the kinds of industries that generate multi-generational revenue and opportunities for our citizens, as NioCorp's Elk Creek Project promises, we need to be able to compete with other states that aggressively court these companies," said Nebraska State Senator Brad von Gillern, Chairman of the Nebraska Unicameral's Revenue Committee. "Getting a strong return on our investment from these state incentives programs is absolutely essential, and that has been my number one priority for these types of legislative initiatives. That is why I was pleased to support LB 1165 and the provisions aimed at providing more flexibility to NioCorp and other companies to grow their businesses in Nebraska."
"I want to thank Governor Pillen, Revenue Committee Chairman Brad von Gillern, Senator Hallstrom, and members of the Nebraska Unicameral for supporting this effort," said Mark A. Smith, Chairman and CEO of NioCorp. "Nebraska has stood behind the Elk Creek Project from the very beginning, and this is another clear demonstration of that commitment. The support we continue to receive from the state, from Nebraska's federal delegation, and from the communities of southeast Nebraska means a great deal to our team and strengthens our resolve to deliver on what this project promises: good-paying jobs, lasting economic growth for the region, and a reliable domestic supply of the critical minerals that American manufacturers and our national defense depend on."
Mr. Smith added: "Nebraska continues to invest its confidence in this project, and we are fully committed to delivering on that."
The signing of this legislation is the latest in a series of actions by Nebraska's state government in support of the Elk Creek Project, which is expected to create approximately ~450 permanent direct jobs in southeast Nebraska, generate significant new tax revenue for the state and its counties, and support an estimated 2,100 additional jobs throughout the broader Nebraska economy.
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, statements regarding shifts in the policy environment, objectives, expectations and actions of the U.S. government; 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.
Notes:
2022 Elk Creek Technical Report. Estimates account for tax benefits NioCorp expected to receive from the Nebraska Advantage program.
Additional jobs created or supported were estimated using the Economic Policy Institute's Employment Multiplier for Metal Ore Mining, https://www.epi.org/publication/updated-employment-multipliers-for-the-u-s-economy/
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. NioCorp Developments Ltd. (NB - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
NioCorp Developments Ltd. is one of 248 individual stocks in the Basic Materials sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NioCorp Developments Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NB's full-year earnings has moved 16.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NB has moved about 20.8% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have gained about 19.9% on average. This means that NioCorp Developments Ltd. is performing better than its sector in terms of year-to-date returns.
One other Basic Materials stock that has outperformed the sector so far this year is Silvercorp (SVM - Free Report) . The stock is up 49.2% year-to-date.
Over the past three months, Silvercorp's consensus EPS estimate for the current year has increased 46.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, NioCorp Developments Ltd. belongs to the Mining - Miscellaneous industry, a group that includes 72 individual companies and currently sits at #145 in the Zacks Industry Rank. On average, stocks in this group have gained 25.5% this year, meaning that NB is slightly underperforming its industry in terms of year-to-date returns. Silvercorp is also part of the same industry.
Going forward, investors interested in Basic Materials stocks should continue to pay close attention to NioCorp Developments Ltd. and Silvercorp as they could maintain their solid performance.
Key Takeaways USAR commissioned Phase 1a magnet line, targeting NdFeB output and 600 metric tons' capacity by 2026.NioCorp is advancing the Elk Creek Project, investing $44.6M and securing funding to move toward production.Both USAR and NB face rising costs, ongoing losses and dilution risks despite a strong demand outlook. USA Rare Earth, Inc. (USAR - Free Report) and NioCorp Developments Ltd. (NB - Free Report) are U.S.-based companies that are engaged in the exploration and mining of minerals and metals, primarily in North America. Both companies operate in the Zacks Mining - Miscellaneous industry.
Both companies operate in capital-intensive mining sectors with long development timelines, complex regulatory approvals and substantial investments in infrastructure and advanced technologies. However, rising demand for minerals critical to electric vehicles and renewable energy is strengthening their long-term growth outlook. Geopolitical tensions, including the Iran-Israel conflict, are further tightening global markets by disrupting supply chains and constraining oil availability.
The Case for USARUSAR has reached a key milestone with the commissioning of Phase 1a of its commercial magnet production line at its Stillwater, OK, facility. Backed by this development, the company will be able to begin fulfilling customer orders for sintered neodymium-iron-boron (NdFeB) permanent magnets starting in the second quarter of 2026.
The commissioning confirms the facility’s ability to operate a complex, multi-step manufacturing process at a commercial scale. The production process involves the transformation of rare earth and metallic elements into ultra-fine powder, refining it through jet milling in a controlled environment and then shaping, coating and magnetizing the material into NdFeB magnets. These high-performance magnets are used in defense, aerospace, automotive and other high-growth industries.
Phase 1a is expected to ramp up to an annual run rate capacity of 600 metric tons by the end of 2026. In the quarters ahead, the addition of Phase 1b is expected to double the Stillwater facility’s total capacity to 1,200 metric tons per annum by the first quarter of 2027. Once fully operational, the Stillwater facility is expected to be one of the first large-scale NdFeB magnet plants in the United States, helping strengthen the country’s domestic rare earth supply chain.
USA Rare Earth also bolstered its balance sheet through PIPE financing and warrant exercises. It is worth noting that the company completed the $1.5 billion PIPE financing in January 2026. This funding is being used to make upgrades at the Stillwater plant, expand magnet-finishing capabilities and complete Line 1b to increase total NdFeB magnet-producing capacity.
In April 2026, USAR inked a deal with InfraVia to acquire approximately a 12.5% stake in a France-based rare earth processing company, Carester SAS. Also, in the same month, the company entered into an agreement to acquire Serra Verde Group, which is the owner of Brazil-based Pela Ema rare earth mine and processing facility. The deal adds an operational rare earth mine with significant output of critical heavy rare earths like dysprosium and terbium. The transaction is anticipated to be completed in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.
In March 2026, USA Rare Earth inked a deal to acquire Texas Mineral Resources Corp. in an all-stock deal worth about $73 million. This will give the company full ownership and operational control of the Round Top Project. USAR expects commercial production at Round Top to begin in 2028, with a target to process around 40,000 metric tons of rare earth and critical mineral feedstock per day by 2030. Also, USAR completed the acquisition of Less Common Metals in November 2025, which will supply critical metal and alloy feedstock for the Stillwater plant. It is worth noting that in April 2026, USA Rare Earth achieved its first commercial production of high-purity yttrium metal through Less Common Metals, marking a key step in building a rare earth supply outside China.
However, since its inception, the company has remained in the exploration and research stages, incurring losses. Amid its project development phase, USAR has been grappling with rising operational expenses, adversely impacting its margins and profitability. In fourth-quarter 2025, its selling, general and administrative expenses increased to $18.5 million from $4.5 million in the year-ago quarter due to a rise in legal & consulting costs, higher headcount & recruiting fees and other costs.
Research and development expenses rose to $7.2 million compared with $1.4 million reported in the year-ago quarter due to an increase in employee-related expenses. Elevated expenses resulted in a loss of 19 cents per share in the fourth quarter.
The Case for NioCorpNioCorp is advancing its Elk Creek Project in Nebraska toward production, targeting the extraction of niobium, scandium, titanium and rare earth elements. These critical minerals are vital for applications in electric vehicles, clean energy systems and defense technologies. In February 2026, NB started constructing the main underground portal for its Elk Creek Project, marking a shift from planning to pre-construction. The company is investing about $44.6 million in this phase and has already raised around $500 million to advance the project.
In January 2026, NioCorp signed a non-binding term sheet with Traxys to market and sell minerals from its Elk Creek Project. If finalized, Traxys would act as NB’s global marketing partner, covering nearly all planned production for the first 10 years.
In November 2025, NioCorp acquired additional land in Johnson County, NE, related to the Elk Creek Project. With the acquisition, NB currently owns a square mile of land at the site, which will be used to host both its surface processing facility and underground critical minerals mine.
Niocorp’s deal with the U.S. Department of Defense will also support its engineering and drilling activities at the site. These initiatives will facilitate NioCorp in launching the Elk Creek Project and take it to the commercial operation phase.
However, NB raised about $100 million through public offerings in February 2026 to fund its progress. Although its long-term growth initiatives hold positive, selling shares might cause its dilution, potentially having an adverse impact on earnings per share.
How Does the Zacks Consensus Estimate Compare for USAR & NB?The Zacks Consensus Estimate for USAR’s 2026 bottom line is pegged at a loss of 71 cents per share. Also, the company’s consensus estimate for the 2027 bottom line is pegged at a loss of $1.31 per share.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NB’s fiscal 2026 bottom line is pegged at a loss of 57 cents per share. Also, the company’s consensus estimate for fiscal 2027 bottom line is pegged at a loss of 45 cents per share.
Image Source: Zacks Investment Research
Price Performance and Valuation of USAR & NBIn the past year, USAR’s shares have surged 110%, while NB stock has soared 137.5%.
Image Source: Zacks Investment Research
USA Rare Earth is trading at a forward 12-month price-to-earnings ratio of negative 23.31X, while NioCorp’s forward earnings multiple sits at negative 13.04X.
Image Source: Zacks Investment Research
Final TakeUSAR recently commissioned Phase 1a of its commercial magnet production line at its Stillwater, OK, facility. The company has also strengthened its strategy through the acquisition of Less Common Metals and its planned purchase of Serra Verde Group and Texas Mineral Resources. However, despite these advances, USAR remains in an early commercial stage with rising operating and R&D expenses, which are expected to weigh on the near-term performance.
In contrast, NioCorp is advancing its Elk Creek Project with portal construction, land expansion and support from the government, moving closer to commercial production. The company has also signed a potential long-term marketing deal with Traxys North America LLC that could cover most of its output for the first 10 years.
Given these factors, NB seems a better pick for investors than USAR currently. While NioCorp sports a Zacks Rank #1 (Strong Buy) at present, USA Rare Earth has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of NioCorp Developments Ltd. (NB - Free Report) have gained 22.9% over the past four weeks to close the last trading session at $5.58, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $11.23 indicates a potential upside of 101.3%.
The mean estimate comprises three short-term price targets with a standard deviation of $3.33. While the lowest estimate of $8.70 indicates a 55.9% increase from the current price level, the most optimistic analyst expects the stock to surge 168.8% to reach $15.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in NB. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why NB Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 18.7% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, NB currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much NB could gain, the direction of price movement it implies does appear to be a good guide.
NioCorp Developments secures a 10-year non-binding offtake agreement with Traxys, validating Elk Creek's sales channel and supporting a Strong Buy rating. NB's vertically integrated, non-open-pit mining model targets six minerals, with rare earth elements and scandium purity offering significant revenue upside. NB's $419 million cash position and active $800 million EXIM debt application are pivotal for funding the $1.2 billion Elk Creek CAPEX, mitigating dilution risk.
A six-week sequence — DIBC application, Plutus mandate, CMETC-eligible flow-through financing — drops under eight months before the U.S. defense procurement cliff for Chinese tungsten
, /PRNewswire/ -- American News Group News Commentary — The tungsten market has stopped trading like a niche industrial input. Rotterdam ammonium paratungstate (APT) — the benchmark intermediate — is changing hands near US$3,185 per metric tonne unit, up roughly 350% year-to-date and approximately 900% over the trailing twelve months.[1] China still controls roughly 80% of global tungsten supply, and the U.S. Department of War's tungsten procurement cliff — codified in DFARS 252.225-7052 and effective January 1, 2027 — prohibits Chinese, Russian, Iranian, and North Korean tungsten from defense supply chains. Either new Western tungsten mines come online, or the entire downstream Western tungsten market contracts. There is no third option.
Inside that structural setup, Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) has, over a roughly six-week stretch, executed a sequence that reads less like a junior explorer's standing news flow and more like a deliberate effort to price into the reshoring trade through both U.S. defense procurement channels and the Canadian tax and listing infrastructure: a U.S. Defense Industrial Base Consortium (DIBC) application targeting tungsten, a twelve-month European investor relations mandate with Plutus Invest & Consulting GmbH commencing May 1, 2026, and a non-brokered flow-through financing eligible for the Canadian Critical Mineral Exploration Tax Credit (CMETC).[2]
The DIBC Submission, And Why Past-Producing Status Matters
On May 1, 2026, Western Star Resources announced that it had submitted its application in response to a solicitation from the U.S. Defense Industrial Base Consortium to provide the United States a reliable supply of critical minerals, focusing on tungsten (WO₃).[3]
In February 2026, the DIBC issued a new request for project proposal (RPP) focused on strategic critical minerals. The DIBC is managed by Advanced Technology International (ATI) on behalf of the U.S. Department of War (DoW), and aims to expand and diversify the defense industrial base in the U.S., enabling private-sector businesses to work in partnership with the U.S. government.[3]
The DoW has prioritized identification of supply chain alternatives for defense-critical minerals used in the production of aircraft, missiles, semiconductors, and other defense technologies.[3] Western Star's submission focuses on tungsten and is anchored to the past-producing Rowland property in the Jarbidge mining district of Nevada — a U.S. asset with documented historical production that fits the geographic profile the DoW is now actively underwriting.[2]
Past-producing status matters in the current procurement context. Brownfield assets with documented historical production face materially lower permitting complexity and shorter pathways to production than greenfield development projects. The Company has indicated that extensive historical workings are expected to classify the project as previously disturbed, which is expected to streamline the permitting process.[2] CEO and President Blake Morgan put it directly in the May 1 release: "Western Star Resources is pleased to support DIBC initiatives focusing on strategic critical minerals. Our team will be traveling to Washington in May for meetings to discuss our past-producing tungsten asset. We believe this asset offers significant upside and look forward to demonstrating its potential as we approach our maiden drill program in 2026."[3]
Rowland: Historical Grades, Skarn Geology, And A 2026 Maiden Drill Program
The Rowland property is the flagship of Western Star's portfolio — a past-producing tungsten asset located approximately 6 miles southwest of Jarbidge, Nevada. Historical Rowland production, as reported in Western Star's news releases dated November 5, 2025 and April 9, 2026, consists of 4.5 tons of ore at 3.38% WO₃ shipped in 1943, and approximately 1,000 tons of ore at 0.5–1.0% WO₃ produced from 1954–56.[2] A LiDAR review has identified over 17 historical open pits, trenches, shafts, and adits across the property.[2] The Rowland property is road accessible, and tungsten mineralization has been traced over 2 kilometres — the full length of the existing property package.[2]
Mineralization at Rowland is hosted in skarn zones up to 100 feet wide, developed along intrusive contacts, with scheelite as the primary tungsten mineral alongside molybdenite, powellite, chalcopyrite, and pyrite within a garnet-epidote skarn system.[2] On March 23, 2026, Western Star disclosed preparations to mobilize for the first modern exploration program at the past-producing Rowland Tungsten Property.[2]
The 2026 spring work program is designed to advance the project toward drill targeting and includes rock sampling of all historically disturbed areas identified through LiDAR analysis to verify historical grades and define mineralized zones.
Morgan framed the timing directly on March 23: "With the start of the spring field season coinciding with strong tungsten prices, we are ideally positioned to initiate the maiden exploration program at Rowland."[2] The Company has noted that since acquiring the project, tungsten prices have moved materially higher — a tailwind that improves both the after-tax economics of the exploration program and the institutional appetite for funding tungsten exploration capital.
The European Channel: Plutus, And A €200,000 Mandate Into Q1 2027
Alongside the DIBC submission, Western Star announced on May 1, 2026 that it had entered into a twelve-month investor relations and marketing services agreement with Plutus Invest & Consulting GmbH of Bremen, Germany, dated April 28, 2026 and commencing May 1, 2026.[3]
The services to be provided by Plutus include consultation regarding advertorial marketing and public relations strategies, and designing and implementing an advertisement-based investor awareness campaign focused on the European investment market across financial-news portals, investor newsletters, social-media platforms, paid digital advertising networks, and sponsored articles and video interviews on investor-relations portals.[3]
The Company has agreed to pay Plutus a fee of €200,000 payable on the commencement of services. The Plutus Agreement was negotiated through arm's length negotiations and terminates April 30, 2027.[3]
The European channel is a deliberate piece of the architecture. Tungsten reshoring is a U.S. policy story but the metal's industrial customer base spans Europe heavily — and the European procurement context around critical minerals supply security has moved aggressively in parallel with the U.S. policy track. The Plutus mandate positions the Company for European market awareness during the back half of 2026 and through Q1 2027 — precisely the window during which the January 1, 2027 U.S. federal procurement rule will be taking effect and Western Star's maiden drill program will be generating its first modern technical results from Rowland.[2]
CMETC Eligibility: How The Canadian Tax Architecture Subsidizes The Trade
The financing component of Western Star's recent sequence is structurally interesting. CMETC eligibility broadens the pool of Canadian investors willing to fund critical-mineral exploration by attaching enhanced after-tax economics — a 30% non-refundable tax credit on top of the standard 100% Canadian Exploration Expense (CEE) deduction — to the subscription.
The timing of WSR's financing aligns it with a recent, specific policy change: tungsten was added to the CMETC's list of eligible critical minerals on November 4, 2025 (Budget Day 25), with the expansion enacted into law when Bill C-15 (the Budget 2025 Implementation Act, No. 1) received Royal Assent on March 26, 2026.[2] The expanded list — which also added bismuth, cesium, chromium, fluorspar, germanium, indium, manganese, molybdenum, niobium, tantalum, and tin — applies to flow-through share agreements entered into after Budget Day 25 and on or before March 31, 2027.[2] Western Star's flow-through agreement, entered into in the run-up to its May 1, 2026 announcement, sits squarely inside that window.
The combination matters because it stacks three independent capital and procurement tailwinds onto the same project: U.S. defense procurement engagement through the DIBC submission, European market awareness through the Plutus mandate, and Canadian after-tax economics through the CMETC-eligible flow-through financing. Few junior tungsten explorers in 2026 are positioned across all three channels simultaneously.
Where WSR Sits Inside The Tungsten And Critical Minerals Reshoring Universe
Group 6 Metals Limited (ASX: G6M) owns and operates the Dolphin Tungsten Mine on King Island, Tasmania — described as the highest-grade tungsten deposit of significant size in the Western world, with a JORC 2012 compliant Mineral Reserve of 4.43Mt at a grade of 0.92% WO₃ and total resources of 9.6 Mt at 0.90% WO₃.[4] Group 6 has recently signed a binding three-year underground mining contract with HMR Drilling Services valued at approximately A$110–120 million for Dolphin development and production services.[5]
Group 6 also turned profitable for the first half of FY26 and announced a long-term Traxys offtake agreement promising 10,000 tonnes of WO₃ in scheelite concentrate deliveries worth a minimum US$1.75 billion over six to eight years at current APT spot prices.[6] Group 6 represents the producer-end comparable for a past-producing Western tungsten asset that has successfully redeveloped into commercial production — the precedent path Western Star's Rowland asset is now positioned to evaluate.
EQ Resources Ltd. (ASX: EQR) owns the Barruecopardo tungsten mine in Spain and the Mt Carbine tungsten mine in Northern Queensland — the largest producing tungsten mine in Australia. The Company has grown approximately 500% over the past year and trades at a valuation near A$1.5 billion as the broader tungsten reshoring trade has repriced the Western producer base aggressively.[6] EQ's management has publicly observed that current tungsten prices are not sustainable, but has indicated they expect elevated prices for three to five years given the absence of immediate major new Western supply sources.[6] EQ Resources represents the producer comparable that frames the institutional repricing of Western tungsten production capacity that is now actively underway.
NioCorp Developments Ltd. (NASDAQ: NB) is advancing the Elk Creek niobium-scandium-titanium critical minerals project in Nebraska, and represents one of the cleanest North American critical-minerals-reshoring comparables for Western Star's positioning. NioCorp priced a US$100 million public offering at US$5.00 per share on February 24, 2026, closing the offering on February 25, 2026, with Maxim Group as lead bookrunner.[7] The Company has begun excavation of its Mine Portal ($44.6 million), announced a non-binding ten-year offtake agreement with Traxys on April 9, 2026, and has a $780 million Export-Import Bank financing under consideration. NioCorp offers the broader U.S. critical minerals reshoring comparable for a small-cap, single-project exposure to a structurally undersupplied critical mineral inside the U.S. supply security framework — the same broader thesis Western Star is positioned inside on tungsten.
MP Materials Corp. (NYSE: MP) operates the Mountain Pass rare earth mine in California — the only large-scale operating rare earth mine in the Western Hemisphere — and is the highest-profile public-market expression of the broader U.S. critical-minerals-reshoring investment thesis. MP Materials has been one of the central public-market beneficiaries of the structural U.S. policy push to bring critical minerals supply chains back inside Western jurisdictions, with a market capitalization that reflects the institutional view that strategically essential critical-minerals producers operating inside U.S. borders carry a procurement and security premium that did not exist five years ago. MP Materials provides the broadest reshoring comparable for the strategic-minerals-procurement framework Western Star's Rowland program is positioned inside.
Across all four comparables, the recurring pattern is unmistakable: critical-minerals capacity inside Western jurisdictions has been repriced aggressively across 2025 and 2026, with the producers and near-producers experiencing the cleanest re-ratings, and the developers next in the queue carrying the next layer of asymmetric exposure as the procurement cliff and the tax architecture both tighten in the same direction. Western Star sits at the developer end of that spectrum with a past-producing U.S. asset, an active DIBC engagement, a European IR mandate, and a CMETC-eligible flow-through financing — all dropping inside the same eight-month window before the procurement cliff takes force.
The Window Ahead
Western Star's near-term catalyst window is well-defined. The 2026 spring field season is now in motion at Rowland, with rock sampling of historically disturbed areas underway and a maiden modern exploration program designed to advance the project toward drill targeting.[2]
The DIBC application has been filed, with Washington meetings scheduled in May to discuss the past-producing tungsten asset.[3] The Plutus mandate is live through April 30, 2027 — covering exactly the window during which the January 1, 2027 procurement rule takes effect and the first modern Rowland technical results are expected to land. The CMETC-eligible flow-through financing structure sits inside the agreement window through March 31, 2027.[2]
For investors who have read the procurement cliff, the tax architecture, the European procurement context, and the trajectory of APT prices across the past twelve months, Western Star Resources offers a small-cap exposure to a past-producing U.S. tungsten asset operating with explicit U.S. defense procurement engagement, European investor outreach, and Canadian flow-through subscription economics — all in the same window. The macro is now structural. The procurement is now compulsory by federal regulation. The capital-markets architecture is now subsidized. The question for Western Star is execution of the maiden modern drill program — and the next reads on that question arrive across the back half of 2026.
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Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. AmericanNewsGroup.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has previously been paid a fee for Western Star Resources Inc. advertising and digital media from the company directly which has since expired. There may be 3rd parties who may have shares Western Star Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. Previous compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ do not own any shares of Western Star Resources Inc. but reserve the right to buy and sell, and will buy and sell shares of Western Star Resources Inc. at any time hereafter without any further notice. We also expect further compensation in the future as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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A six-week sequence — DIBC application, Plutus mandate, CMETC-eligible flow-through financing — drops under eight months before the U.S. defense procurement cliff for Chinese tungsten
, /PRNewswire/ -- American News Group News Commentary — The tungsten market has stopped trading like a niche industrial input. Rotterdam ammonium paratungstate (APT) — the benchmark intermediate — is changing hands near US$3,185 per metric tonne unit, up roughly 350% year-to-date and approximately 900% over the trailing twelve months.[1] China still controls roughly 80% of global tungsten supply, and the U.S. Department of War's tungsten procurement cliff — codified in DFARS 252.225-7052 and effective January 1, 2027 — prohibits Chinese, Russian, Iranian, and North Korean tungsten from defense supply chains. Either new Western tungsten mines come online, or the entire downstream Western tungsten market contracts. There is no third option.
Inside that structural setup, Western Star Resources Inc. (CSE: WSR) (OTC: WSRIF) has, over a roughly six-week stretch, executed a sequence that reads less like a junior explorer's standing news flow and more like a deliberate effort to price into the reshoring trade through both U.S. defense procurement channels and the Canadian tax and listing infrastructure: a U.S. Defense Industrial Base Consortium (DIBC) application targeting tungsten, a twelve-month European investor relations mandate with Plutus Invest & Consulting GmbH commencing May 1, 2026, and a non-brokered flow-through financing eligible for the Canadian Critical Mineral Exploration Tax Credit (CMETC).[2]
The DIBC Submission, And Why Past-Producing Status Matters
On May 1, 2026, Western Star Resources announced that it had submitted its application in response to a solicitation from the U.S. Defense Industrial Base Consortium to provide the United States a reliable supply of critical minerals, focusing on tungsten (WO₃).[3]
In February 2026, the DIBC issued a new request for project proposal (RPP) focused on strategic critical minerals. The DIBC is managed by Advanced Technology International (ATI) on behalf of the U.S. Department of War (DoW), and aims to expand and diversify the defense industrial base in the U.S., enabling private-sector businesses to work in partnership with the U.S. government.[3]
The DoW has prioritized identification of supply chain alternatives for defense-critical minerals used in the production of aircraft, missiles, semiconductors, and other defense technologies.[3] Western Star's submission focuses on tungsten and is anchored to the past-producing Rowland property in the Jarbidge mining district of Nevada — a U.S. asset with documented historical production that fits the geographic profile the DoW is now actively underwriting.[2]
Past-producing status matters in the current procurement context. Brownfield assets with documented historical production face materially lower permitting complexity and shorter pathways to production than greenfield development projects. The Company has indicated that extensive historical workings are expected to classify the project as previously disturbed, which is expected to streamline the permitting process.[2] CEO and President Blake Morgan put it directly in the May 1 release: "Western Star Resources is pleased to support DIBC initiatives focusing on strategic critical minerals. Our team will be traveling to Washington in May for meetings to discuss our past-producing tungsten asset. We believe this asset offers significant upside and look forward to demonstrating its potential as we approach our maiden drill program in 2026."[3]
Rowland: Historical Grades, Skarn Geology, And A 2026 Maiden Drill Program
The Rowland property is the flagship of Western Star's portfolio — a past-producing tungsten asset located approximately 6 miles southwest of Jarbidge, Nevada. Historical Rowland production, as reported in Western Star's news releases dated November 5, 2025 and April 9, 2026, consists of 4.5 tons of ore at 3.38% WO₃ shipped in 1943, and approximately 1,000 tons of ore at 0.5–1.0% WO₃ produced from 1954–56.[2] A LiDAR review has identified over 17 historical open pits, trenches, shafts, and adits across the property.[2] The Rowland property is road accessible, and tungsten mineralization has been traced over 2 kilometres — the full length of the existing property package.[2]
Mineralization at Rowland is hosted in skarn zones up to 100 feet wide, developed along intrusive contacts, with scheelite as the primary tungsten mineral alongside molybdenite, powellite, chalcopyrite, and pyrite within a garnet-epidote skarn system.[2] On March 23, 2026, Western Star disclosed preparations to mobilize for the first modern exploration program at the past-producing Rowland Tungsten Property.[2]
The 2026 spring work program is designed to advance the project toward drill targeting and includes rock sampling of all historically disturbed areas identified through LiDAR analysis to verify historical grades and define mineralized zones.
Morgan framed the timing directly on March 23: "With the start of the spring field season coinciding with strong tungsten prices, we are ideally positioned to initiate the maiden exploration program at Rowland."[2] The Company has noted that since acquiring the project, tungsten prices have moved materially higher — a tailwind that improves both the after-tax economics of the exploration program and the institutional appetite for funding tungsten exploration capital.
The European Channel: Plutus, And A €200,000 Mandate Into Q1 2027
Alongside the DIBC submission, Western Star announced on May 1, 2026 that it had entered into a twelve-month investor relations and marketing services agreement with Plutus Invest & Consulting GmbH of Bremen, Germany, dated April 28, 2026 and commencing May 1, 2026.[3]
The services to be provided by Plutus include consultation regarding advertorial marketing and public relations strategies, and designing and implementing an advertisement-based investor awareness campaign focused on the European investment market across financial-news portals, investor newsletters, social-media platforms, paid digital advertising networks, and sponsored articles and video interviews on investor-relations portals.[3]
The Company has agreed to pay Plutus a fee of €200,000 payable on the commencement of services. The Plutus Agreement was negotiated through arm's length negotiations and terminates April 30, 2027.[3]
The European channel is a deliberate piece of the architecture. Tungsten reshoring is a U.S. policy story but the metal's industrial customer base spans Europe heavily — and the European procurement context around critical minerals supply security has moved aggressively in parallel with the U.S. policy track. The Plutus mandate positions the Company for European market awareness during the back half of 2026 and through Q1 2027 — precisely the window during which the January 1, 2027 U.S. federal procurement rule will be taking effect and Western Star's maiden drill program will be generating its first modern technical results from Rowland.[2]
CMETC Eligibility: How The Canadian Tax Architecture Subsidizes The Trade
The financing component of Western Star's recent sequence is structurally interesting. CMETC eligibility broadens the pool of Canadian investors willing to fund critical-mineral exploration by attaching enhanced after-tax economics — a 30% non-refundable tax credit on top of the standard 100% Canadian Exploration Expense (CEE) deduction — to the subscription.
The timing of WSR's financing aligns it with a recent, specific policy change: tungsten was added to the CMETC's list of eligible critical minerals on November 4, 2025 (Budget Day 25), with the expansion enacted into law when Bill C-15 (the Budget 2025 Implementation Act, No. 1) received Royal Assent on March 26, 2026.[2] The expanded list — which also added bismuth, cesium, chromium, fluorspar, germanium, indium, manganese, molybdenum, niobium, tantalum, and tin — applies to flow-through share agreements entered into after Budget Day 25 and on or before March 31, 2027.[2] Western Star's flow-through agreement, entered into in the run-up to its May 1, 2026 announcement, sits squarely inside that window.
The combination matters because it stacks three independent capital and procurement tailwinds onto the same project: U.S. defense procurement engagement through the DIBC submission, European market awareness through the Plutus mandate, and Canadian after-tax economics through the CMETC-eligible flow-through financing. Few junior tungsten explorers in 2026 are positioned across all three channels simultaneously.
Where WSR Sits Inside The Tungsten And Critical Minerals Reshoring Universe
Group 6 Metals Limited (ASX: G6M) owns and operates the Dolphin Tungsten Mine on King Island, Tasmania — described as the highest-grade tungsten deposit of significant size in the Western world, with a JORC 2012 compliant Mineral Reserve of 4.43Mt at a grade of 0.92% WO₃ and total resources of 9.6 Mt at 0.90% WO₃.[4] Group 6 has recently signed a binding three-year underground mining contract with HMR Drilling Services valued at approximately A$110–120 million for Dolphin development and production services.[5]
Group 6 also turned profitable for the first half of FY26 and announced a long-term Traxys offtake agreement promising 10,000 tonnes of WO₃ in scheelite concentrate deliveries worth a minimum US$1.75 billion over six to eight years at current APT spot prices.[6] Group 6 represents the producer-end comparable for a past-producing Western tungsten asset that has successfully redeveloped into commercial production — the precedent path Western Star's Rowland asset is now positioned to evaluate.
EQ Resources Ltd. (ASX: EQR) owns the Barruecopardo tungsten mine in Spain and the Mt Carbine tungsten mine in Northern Queensland — the largest producing tungsten mine in Australia. The Company has grown approximately 500% over the past year and trades at a valuation near A$1.5 billion as the broader tungsten reshoring trade has repriced the Western producer base aggressively.[6] EQ's management has publicly observed that current tungsten prices are not sustainable, but has indicated they expect elevated prices for three to five years given the absence of immediate major new Western supply sources.[6] EQ Resources represents the producer comparable that frames the institutional repricing of Western tungsten production capacity that is now actively underway.
NioCorp Developments Ltd. (NASDAQ: NB) is advancing the Elk Creek niobium-scandium-titanium critical minerals project in Nebraska, and represents one of the cleanest North American critical-minerals-reshoring comparables for Western Star's positioning. NioCorp priced a US$100 million public offering at US$5.00 per share on February 24, 2026, closing the offering on February 25, 2026, with Maxim Group as lead bookrunner.[7] The Company has begun excavation of its Mine Portal ($44.6 million), announced a non-binding ten-year offtake agreement with Traxys on April 9, 2026, and has a $780 million Export-Import Bank financing under consideration. NioCorp offers the broader U.S. critical minerals reshoring comparable for a small-cap, single-project exposure to a structurally undersupplied critical mineral inside the U.S. supply security framework — the same broader thesis Western Star is positioned inside on tungsten.
MP Materials Corp. (NYSE: MP) operates the Mountain Pass rare earth mine in California — the only large-scale operating rare earth mine in the Western Hemisphere — and is the highest-profile public-market expression of the broader U.S. critical-minerals-reshoring investment thesis. MP Materials has been one of the central public-market beneficiaries of the structural U.S. policy push to bring critical minerals supply chains back inside Western jurisdictions, with a market capitalization that reflects the institutional view that strategically essential critical-minerals producers operating inside U.S. borders carry a procurement and security premium that did not exist five years ago. MP Materials provides the broadest reshoring comparable for the strategic-minerals-procurement framework Western Star's Rowland program is positioned inside.
Across all four comparables, the recurring pattern is unmistakable: critical-minerals capacity inside Western jurisdictions has been repriced aggressively across 2025 and 2026, with the producers and near-producers experiencing the cleanest re-ratings, and the developers next in the queue carrying the next layer of asymmetric exposure as the procurement cliff and the tax architecture both tighten in the same direction. Western Star sits at the developer end of that spectrum with a past-producing U.S. asset, an active DIBC engagement, a European IR mandate, and a CMETC-eligible flow-through financing — all dropping inside the same eight-month window before the procurement cliff takes force.
The Window Ahead
Western Star's near-term catalyst window is well-defined. The 2026 spring field season is now in motion at Rowland, with rock sampling of historically disturbed areas underway and a maiden modern exploration program designed to advance the project toward drill targeting.[2]
The DIBC application has been filed, with Washington meetings scheduled in May to discuss the past-producing tungsten asset.[3] The Plutus mandate is live through April 30, 2027 — covering exactly the window during which the January 1, 2027 procurement rule takes effect and the first modern Rowland technical results are expected to land. The CMETC-eligible flow-through financing structure sits inside the agreement window through March 31, 2027.[2]
For investors who have read the procurement cliff, the tax architecture, the European procurement context, and the trajectory of APT prices across the past twelve months, Western Star Resources offers a small-cap exposure to a past-producing U.S. tungsten asset operating with explicit U.S. defense procurement engagement, European investor outreach, and Canadian flow-through subscription economics — all in the same window. The macro is now structural. The procurement is now compulsory by federal regulation. The capital-markets architecture is now subsidized. The question for Western Star is execution of the maiden modern drill program — and the next reads on that question arrive across the back half of 2026.
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. AmericanNewsGroup.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has previously been paid a fee for Western Star Resources Inc. advertising and digital media from the company directly which has since expired. There may be 3rd parties who may have shares Western Star Resources Inc., and may liquidate their shares which could have a negative effect on the price of the stock. Previous compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ do not own any shares of Western Star Resources Inc. but reserve the right to buy and sell, and will buy and sell shares of Western Star Resources Inc. at any time hereafter without any further notice. We also expect further compensation in the future as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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Shares of NioCorp Developments Ltd. (NB - Free Report) have gained 2.7% over the past four weeks to close the last trading session at $5.73, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $11.5 indicates a potential upside of 100.7%.
The mean estimate comprises three short-term price targets with a standard deviation of $3.04. While the lowest estimate of $9.50 indicates a 65.8% increase from the current price level, the most optimistic analyst expects the stock to surge 161.8% to reach $15.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in NB. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in NBAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 0.9%.
Moreover, NB currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much NB could gain, the direction of price movement it implies does appear to be a good guide.
Beijing's Current Heavy Rare Earth Restrictions Are a Permanent Strategic Shift, Not a Temporary Bargaining Tactic, Smith Warns
Trump Administration is Moving Aggressively to Accelerate the Build-Out of Domestic Mine-to-Manufacturer Supply Chains
Industry and the Pentagon Still Face Dangerous Shortages Until the US Production Comes Online, Including NioCorp's Elk Creek Project in Nebraska
CENTENNIAL, CO / ACCESS Newswire / June 1, 2026 / FoxNews.com today published an opinion-editorial by Mark A. Smith, Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), warning that China's current export restrictions on heavy rare earth exports are not a temporary negotiating tactic but a permanent strategic decision. U.S. companies and the Pentagon face severe shortages that will not be addressed until U.S. production comes online.
The op-ed can be seen here: https://www.foxnews.com/opinion/west-still-doesnt-grasp-danger-chinas-rare-earth-endgame.
In the op-ed, Mr. Smith argues that Western leaders are misreading Beijing's intentions when they treat each new export restriction as leverage to be traded away at the next summit.
"Some Western leaders keep treating each new Chinese export restriction as a bargaining chip," Mr. Smith writes. "That is the wrong way to read what is happening. China is methodically executing a long-term economic and military plan to stop shipping these materials abroad altogether."
Heavy rare earths such as dysprosium and terbium are essential to high-performance permanent magnets that power modern jet aircraft, advanced weapons systems, and hybrid and electric vehicles. A small fraction of these elements by weight allows magnets to withstand intense heat without losing strength. These magnets, along with samarium-cobalt rare earth permanent magnets, help steer cruise missiles, point fighter-jet radars, and drive the silent propulsion in America's submarines. For more than a decade, China has been the world's near-sole supplier but Beijing effectively shut that door to Western defense companies in April of last year.
"A kilogram of dysprosium shipped abroad as a powder earns China a few hundred dollars and employs a handful of miners," Mr. Smith writes. "The same kilogram, tucked inside the motor of an electric car, helps roll a $40,000 vehicle off a Chinese assembly line." Multiplied across the millions of vehicles, wind turbines, drones, and industrial robots China exports each year, the incentive to keep the entire mine-to-magnet-to-manufacturer chain inside its borders becomes overwhelming, a strategy Beijing laid out in its Made in China 2025 blueprint.
Against that backdrop, Mr. Smith credits the Trump Administration with moving decisively to build domestic alternatives. "President Trump clearly sees where this is headed," he writes. "His Administration is working furiously to develop mine-to-manufacturer supply chains in the U.S., including the Pentagon's early investments in the domestic scandium supply chain."
Go here to see Mr. Smith's op-ed: https://www.foxnews.com/opinion/west-still-doesnt-grasp-danger-chinas-rare-earth-endgame
For more information on NioCorp and the Elk Creek Project, please visit: https://www.niocorp.com.
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.
Falling more than 2% from its Friday closing price, NioCorp Developments (NB +8.68%) shares are bouncing back today after an analyst initiated coverage of the mineral development company and set a bullish price target.
As of 1:53 p.m. ET, shares of NioCorp are up 0.5%, tumbling from an earlier gain of 6.6%.
Image source: Getty Images.
A lower-risk project has this firm enthused Initiating coverage with a buy rating, B. Riley has set a $12 price target on NioCorp stock. According to Thefly.com, B. Riley analysts predicated the outlook on the belief that the company's Elk Creek project is "one of the most de-risked critical minerals development projects in the U.S."
Today's Change
(
8.68
%) $
0.42
Current Price
$
5.26
With NioCorp stock closing at $4.99 yesterday, B. Riley's $12 price target represents 140% upside.
Located in Nebraska, the Elk Creek project contains a variety of critical minerals such as scandium oxide and ferroniobium, two minerals that aren't produced in the United States. In addition, NioCorp has identified rare-earth minerals at Elk Creek, including neodymium-praseodymium oxide and dysprosium oxide.
Is now the time to buy NioCorp stock before it rockets higher? With the auspicious price target that B. Riley assigned to NioCorp stock, it's unsurprising that investors leaped at the chance to buy shares earlier today -- but that doesn't mean investors were smart to do so. Granted, the high price target is alluring, but NioCorp is still developing the asset, and there's no certainty that the project will come to fruition -- let alone be a profitable endeavor if it does commence commercial operations.
At this point, an investment in NioCorp should be left to those with high risk tolerances. Fortunately for those seeking more conservative options, there are plenty of other compelling mining stocks to consider.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
St Peter Port, Guernsey 11 June 2026
NB Private Equity Partners Limited (the “Company”) is pleased to announce that at the Annual General Meeting of its Class A Shareholders held at 2.00 p.m. on 11 June 2026, each of the Resolutions tabled were duly passed without amendment.
All resolutions as set out in the Notice of AGM, of which resolutions 1-12 were proposed as ordinary resolutions and resolutions 13-15 were proposed as special resolutions, were voted on by way of a poll and the results were as follows:
ResolutionVotes For% votes castVotes Against% votes castVotes Withheld*1. To receive the Audited Financial Statements and Directors Report for the year ended 31 December 2025.27,744,24399.984,9180.026912. To approve the Directors Remuneration Report as set out in the Annual Report for the year ended 31 December 2025.27,720,61799.9126,0060.093,2293. That the Directors’ Remuneration Policy as set out in the Notice be re-approved.27,719,66699.9028,9110.101,2754. To re-elect William Maltby as a Director of the Company.25,714,63999.7758,5990.231,976,6145. To re-elect Pawan Dhir as a Director of the Company27,735,93499.9610,7440.043,1746. To re-elect Wilken von Hodenberg as a Director of the Company.25,714,63999.7758,5990.231,976,6147. To re-elect Louisa Symington-Mills as a Director of the Company.27,739,39499.977,8110.032,6478. To elect Caroline Chan as a Director of the Company.27,740,17499.986,1500.023,5289. That KPMG Channel Islands Limited be re-appointed as auditor of the Company.27,740,49899.978,3430.031,01110. That the Directors may determine the remuneration of the auditors.27,743,18799.985,9410.0272411. That the interim dividend paid on 27 February 2026 of $0.47 per share be approved and ratified.27,581,90699.40166,1790.601,76712. That the limit on the aggregate amount paid to each Director by way of fees be increased to £550,000.0025,442,59491.692,304,9648.312,29413. That the Company be authorised in accordance with Section 315 of the Companies (Guernsey) Law, 2008 (as amended) to make market acquisitions of its ordinary shares in accordance with the terms set out in the Notice of Annual General Meeting.27,742,38599.986,2880.021,17914. That the Directors be authorised to allot and issue (or sell from treasury) equity securities for cash, up to an aggregate amount not exceeding 9.99% of the Ordinary Shares in issue.27,195,30298.01552,4791.992,07115. The name of the Company be changed to “Neuberger Private Equity Partners Limited” and the existing Memorandum and Articles of Incorporation of the Company be amended to replace all references to “NB Private Equity Partners Limited” with “Neuberger Private Equity Partners Limited”27,732,03399.9612,4320.045,387 * A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.
Ms. Trudi Clark retired from the Board upon the conclusion of the Annual General Meeting, and Ms. Chan takes the role of the Nomination and Remuneration Committee Chair and Management Engagement Committee Chair.
Change of Company Name Update
Following the passing of Resolution 15, the Company will seek to obtain the necessary regulatory approvals for the proposed change and will confirm the effective date for the change of name in due course.
About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
LEI number: 213800UJH93NH8IOFQ77
About Neuberger
Neuberger is an employee-owned, private, independent investment manager founded in 1939 with approximately 3000 employees across 27 countries. The firm manages $563 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger's investment philosophy is founded on active management, fundamental research and engaged ownership. The firm is proud to be recognized for its commitment to its two constituents, clients and employees. Again in 2025, Neuberger was named Best Asset Manager for Institutional Investors in the US (Crisil Coalition Greenwich) and the #1 Best Place to Work in Money Management (Pensions & Investments, firms with more than 1,000 employees). Neuberger has no corporate parent or unaffiliated external shareholders. Visit www.nb.com for more information, including www.nb.com/disclosure-global-communications for information on awards. Data as of 31 December 2025.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE's investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains "forward-looking statements." Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.
