Niocorp Developments Ltd 8-K, filed Aug 6, 2025
Niocorp Developments Ltd (NB)
About this 8-K
Niocorp Developments Ltd filed this 8-K on August 6, 2025, reporting on events of August 4, 2025.
Items reported
- Item 1.01: Entered into a material agreement
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Item 1.01 Entry into a Material Definitive Agreement.
On August 4, 2025, Elk Creek Resources Corp. (“ECRC”), a majority-owned subsidiary of NioCorp Developments Ltd. (the “Company”), entered into a Project Sub-Agreement (the “Sub-Agreement”) with Advanced Technology International (“ATI”), an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of Defense. The Sub-Agreement incorporates the terms and conditions of a Base Agreement, dated July 23, 2025, between ECRC and ATI (the “Base Agreement” and, together with the Sub-Agreement, the “Agreement”).
The Company is currently, among other matters, conducting feasibility study-level engineering and additional reserve drilling, as well as preparing updated cost estimates, for the Company’s Elk Creek Critical Minerals Project (the “Elk Creek Project”) in southeast Nebraska. Subject to the terms and conditions of the Agreement, the U.S. Department of Defense will reimburse ECRC for a portion of the costs incurred by ECRC in connection with this work. Pursuant to the Agreement, ECRC is entitled to receive up to an aggregate of approximately $10.0 million of reimbursement payments from the U.S. Department of Defense upon the achievement of certain project milestones. These milestones include, among other matters, the completion of new drilling operations at the Elk Creek Project, the completion of engineering studies relating to scandium metal, scandium master-alloy and aluminum-scandium master-alloy and the completion of a new feasibility study report for the Elk Creek Project. The Agreement also includes projected completion dates for each milestone. Following the achievement of each milestone set forth in the Agreement, ECRC will be entitled to a reimbursement payment for related expenses, subject to a maximum reimbursement amount for each milestone and subject to a cost co-share amount for each milestone that will be incurred by ECRC and will not be reimbursed.
The Agreement also contains terms and conditions that are customary for U.S. Government agreements of this nature, including provisions giving the U.S. Government the right to terminate the Agreement if the U.S. Government determines that termination would be in the U.S. Government’s best interests.
signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 6, 2025
| NIOCORP DEVELOPMENTS LTD. | ||
| By: | /s/ Neal S. Shah | |
| Name: | Neal S. Shah | |
| Title: | Chief Financial Officer | |