Project Financing

NioCorp’s 2025 review details significant progress on its Elk Creek project, raising over $370 million and ending the year with $307 million cash. Key advancements include bolstered federal support, with the Ex-Im Bank progressing to an Independent Technical Review and a Pentagon-funded scandium development program with Lockheed Martin. Pre-construction readiness was enhanced, but full project financing remains outstanding for a 2026 construction start.

Nouveau Monde Graphite (NMG) is progressing towards a final investment decision for its natural graphite production, targeting North American, European, and allied markets. The company has updated its Feasibility Study and focused on commercial partnerships, securing multi-year offtake agreements. Financing for the Matawinie Mine is advancing, with due diligence nearing completion. NMG is also developing its Bécancour Battery Material Plant and optimizing engineering. The company reported a period-end cash position of $61.7 million. Market perspectives highlight growing EV and energy storage demand.

Standard Lithium (SLI) plans a $120 million public offering of common shares, aiming to fund capital expenditures at its South West Arkansas and Franklin projects. Underwriters, led by Morgan Stanley and Evercore ISI, have a 30-day option to purchase up to 15% more shares. The offering is subject to market conditions and could dilute existing shareholders if completed. Proceeds will also support working capital and general corporate purposes.