NioCorp (NB) Shares Surge 2.26% to 5.25 High on Elk Creek Upgrades, DoD Funding Boost

NioCorp Developments (NB) surged 2.26% on Thursday, marking a two-day rally with a cumulative gain of 7.51%. The stock reached an intraday high of $5.25, its highest level since September 2025, driven by renewed investor optimism tied to the company’s operational and strategic progress.

Recent developments at NioCorp’s flagship Elk Creek Critical Minerals Project have bolstered confidence. The completion of Phase I drilling in August 2025 upgraded resource classifications, enhancing the project’s feasibility as a domestic supplier of niobium, scandium, and titanium. These materials are critical for aerospace, clean energy, and defense sectors, aligning with growing U.S. demand for supply chain resilience. The company also secured three key land parcels, ensuring sufficient space for future infrastructure and production.

Government support has further catalyzed momentum. In August, NioCorp’s subsidiary received $10 million in funding from the U.S. Department of Defense to establish a domestic scandium supply chain, underscoring scandium’s strategic importance for national security. Legislative efforts like the Critical Minerals Investment Tax Modernization Act and reported price support plans from the Trump administration have reinforced optimism about reducing foreign reliance. Additionally, a potential $200 million debt guarantee from a British export credit agency in May 2025 highlighted international confidence in the project’s viability.

Strategic leadership changes have added credibility. The appointment of Ernest M. Cleave, a 20-year mining veteran, as Senior VP of Business Development in August 2025 aims to accelerate partnerships. Rejoining of board member Tony Fulton, a respected Nebraska leader, has also strengthened community and regulatory engagement. These moves signal a focus on operational execution and market expansion.

Financially, NioCorp closed a $45 million public offering in July 2025, funding pre-construction activities at Elk Creek and mitigating liquidity risks. While the company faces challenges like negative operating cash flow and a high price-to-book ratio, its low debt-to-equity ratio and government-backed initiatives position it as a key player in the critical minerals sector.

The stock’s recent surge reflects its alignment with geopolitical priorities and industrial demand. With Elk Creek’s strategic importance and ongoing project advancements, NioCorp remains a high-risk, high-reward investment, contingent on successful execution and sustained market confidence.