LONG-DELAYED NIOCORP MINE ANNOUNCES DEALS THAT COULD BRING MORE INVESTMENT

LINCOLN- A long-delayed mining project in southeast Nebraska announced that it was entering into agreements that could lead to an additional $366 million of investment in its $1.1 billion project. 

NioCorp has raised about $80 million toward opening of its proposed “critical minerals” mine, a company spokesman said. The mine would be located near Elk Creek, a farm town south of Tecumseh and about 80 miles south of Omaha. 

Recently the Colorado-based company announced that it is planning to acquire GX Acquisition Corp. and intends that the merged firm will be listed on the Nasdaq Stock Exchange after the acquisition closes, which is expected in the first quarter of 2023. 

The acquisition, according to NioCorp, “could” result in access to an additional $285 million toward NioCorp’s Elk Creek Critical Minerals Project, depending on the redemption rate of current GXII stockholders.

NioCorp also announced letters of intent with Yorkville Advisors Global on two loans to realize an additional $81 million for the project.

In a press release, NioCorp CEO and Executive Chairman Mark A. Smith said the combination of developments on Monday “have the potential to significantly accelerate our efforts” to make the Elk Creek project a reality. 

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