NIOCORP DEVELOPMENTS LTD

Pre-revenue critical-minerals developer (Elk Creek) with explicit going-concern doubt and a material weakness.

Strengths

• Strategically relevant niobium/scandium/REE project with potential DoD/EXIM financing pathways
• Strong headline liquidity ratios (current/quick 14x, 97th pct) from a small balance sheet

Risks

• Going-concern doubt, no revenue, ROE -0.63 and ROA -0.41; needs ~$40-50M near-term and ~$1.14B total capex
• Identified material weakness in internal controls and heavy dilution/financing dependence

Notable findings

• Exec changeRecent 8-K item 5.02 8-K ↗
• Material weakness● The Company has identified material weaknesses in its internal control over financial reporting