NioCorp Completes $20.8 Million Public Offering to Advance Elk Creek Project

NioCorp Developments ( (NB) ) has shared an update.

NioCorp Developments Ltd. has successfully closed its underwritten public offering in the United States, raising approximately $20.8 million in gross proceeds. This financial move, managed by Maxim Group LLC, supports NioCorp’s strategic initiatives, including the development of the Elk Creek Project, which focuses on producing critical minerals and rare earth elements. The offering’s completion strengthens NioCorp’s financial position, potentially enhancing its industry standing and operational capabilities.

More about NioCorp Developments

NioCorp Developments Ltd. is focused on developing the Elk Creek Project, which aims to produce niobium, scandium, and titanium. The company is also exploring the potential to produce rare earth elements from this project. Niobium is used in specialty alloys and high-strength, low-alloy steel, while scandium is used in aluminum alloys and solid oxide fuel cells. Titanium is essential for lightweight alloys and pigments, and rare earths like neodymium and dysprosium are crucial for neodymium-iron-boron magnets used in various applications.

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