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NioCorp Secures $10M Defense Contract to Boost Scandium Supply Chain

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NioCorp Secures $10M Defense Contract to Boost Scandium Supply Chain

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An announcement from NioCorp Developments ( (NB) ) is now available.

NioCorp Developments Ltd. has been awarded a $10 million agreement by the U.S. Department of Defense to establish a domestic scandium mine-to-manufacture supply chain through its Elk Creek Critical Minerals Project. This development is significant for NioCorp as it positions the company to potentially lead in the production of critical minerals, which are vital for defense and aerospace applications. The announcement could accelerate the company’s access to substantial financing and enhance its market position in the critical minerals industry.

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 focused on developing a critical minerals project known as the Elk Creek Project in Southeast Nebraska. The company aims to produce niobium, scandium, and titanium, and is also exploring the potential to produce several rare earth elements. These minerals are essential for various applications, including specialty alloys, high-strength steel, advanced fuel cells, and magnets used in defense and civilian sectors.

Average Trading Volume: 1,476,869

Technical Sentiment Signal: Buy

Current Market Cap: $229.6M

For an in-depth examination of NB stock, go to TipRanks’ Overview page.

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