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NioCorp Developments ( (NB) ) has issued an announcement.
NioCorp Developments Ltd. has announced plans to accelerate pre-construction activities at its Elk Creek Critical Minerals Project following the successful raising of approximately $60.7 million from institutional investors. This funding enables the company to advance multiple work streams, including land acquisition, engineering, and permitting, which are crucial for the project’s progress. The initiative aligns with the U.S. government’s focus on enhancing critical minerals mining and supply chain development, potentially impacting national defense and economic sectors by bringing strategic resources to market more rapidly.
The most recent analyst rating on (NB) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on NioCorp Developments stock, see the NB Stock Forecast page.
More about NioCorp Developments
NioCorp Developments Ltd. is involved in developing the Elk Creek Project, which is expected to produce niobium, scandium, and titanium. The company is also exploring the potential to produce several rare earth elements from this project. Niobium is used in specialty alloys and high-strength steel, scandium is used in aluminum alloys and fuel cells, and titanium is used in lightweight alloys and pigments. Rare earth elements like neodymium and dysprosium are crucial for making magnets used in various applications.
Average Trading Volume: 1,370,804
Technical Sentiment Signal: Buy
Current Market Cap: $186.1M
Find detailed analytics on NB stock on TipRanks’ Stock Analysis page.