Recent Updates — NB

NioCorp Developments Ltd. reported preliminary unaudited net income of $3.7 million, or $0.03 per share (basic), for the three-month period ended September 30, 2026, a significant turnaround from a net loss of $42.7 million in the same period last year. The improvement was primarily driven by approximately $8.5 million in non-cash gains related to earnout shares and warrants classified as liabilities, resulting from a decrease in the company's common share price between June 30 and September 30, 2026. In contrast, the prior year's loss included roughly $32.1 million in non-cash losses on similar instruments due to rising share prices. As of September 30, 2026, the company held a cash balance of $405.1 million. Operating cash outflows totaled $6.1 million for recurring general and administrative costs and technical study finalization for the Elk Creek Critical Minerals Project, while investing outflows were $5.9 million for mine portal construction. NioCorp is developing the Elk Creek Project to produce niobium, scandium, titanium, and rare earth products.

Elk Creek Resources, a subsidiary of NioCorp Developments Ltd., entered into an Offtake Agreement with Traxys North America LLC covering ferroniobium and certain other products expected to be produced at the Company’s Elk Creek Critical Minerals Project in southeast Nebraska. The agreement supersedes prior agreements and requires Traxys to purchase 50% of annual ferroniobium production or 3,700 metric tonnes per year on a take-or-pay basis. Traxys holds exclusive marketing rights for other products including scandium and rare earths. The 15-year term begins upon commercial production, subject to termination if Export-Import Bank financing is not approved by December 31, 2027. NioCorp Developments Ltd. operates in the critical minerals mining sector.

NioCorp Developments Ltd. adopted a new company-wide annual incentive program (AIP) to modernize executive compensation as it advances the Elk Creek Project. The performance-based cash program allows for payouts between 0% and 200% of target based on corporate milestones, safety, and individual objectives. For fiscal 2026, the Board approved AIP payouts for named executive officers, including $602,784 for CEO Mark A. Smith, $378,197 for COO Scott Honan, and $345,621 for CFO Neal S. Shah. These awards are expected to be paid in cash around July 15, 2026. NioCorp Developments Ltd. is a mining company focused on the development of the Elk Creek Project.