NioCorp provided its preliminary unaudited financial results for the three- and six-month periods ended December 31, 2025.
The company reported a record cash balance of $307 million as of December 31, 2025, following significant derisking of the Elk Creek Critical Minerals Project.
Key activities during the six-month period included receiving up to $10 million in funding from the U.S. Department of Defense, completing an infill drilling campaign, acquiring scandium alloy manufacturing assets, finalizing land purchases, and entering agreements with the U.S. Department of Defense and Lockheed Martin.
Net Losses
The company reported a net loss of $0.8 million for the three months ended December 31, 2025, and a net loss of $43.4 million for the six months ended December 31, 2025.
Adjusted Net Losses
On an adjusted basis, the company reported an adjusted net loss of $5.3 million for the three months and $13.6 million for the six months ended December 31, 2025.
Operating Cash Outflows
Operating cash outflows for the six-month period totaled $7.6 million, mainly driven by expenditures related to the Elk Creek drilling program and feasibility study update efforts.
- The net losses for the reporting periods were influenced by non-cash gains and losses related to earnout shares and warrants classified as liabilities on the balance sheet.
- The increase in adjusted net losses reflects the company's expenditures on drilling programs and feasibility studies.
NioCorp's financial results indicate both challenges and progress in the development of the Elk Creek Critical Minerals Project. The company's focus on derisking and strategic partnerships with government entities and industry leaders exemplify a proactive approach to mineral resource development.