NioCorp Developments Ltd 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedSeptember 30, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 NioCorp Developments Ltd.(Exact Name of Registrant as Specified in its Charter) Registrant’s telephone number, including area code:(720)334-7066 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of November 13, 2025, the registrant had119,360,725Common Shares outstanding. TABLE OF CONTENTS PagePARTI — FINANCIAL INFORMATIONITEM 1.FINANCIAL STATEMENTS1ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS17ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK28ITEM 4.CONTROLS AND PROCEDURES28PARTII — OTHER INFORMATIONITEM 1.LEGAL PROCEEDINGS30ITEM 1A.RISK FACTORS30ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS30ITEM 3.DEFAULTS UPON SENIOR SECURITIES31ITEM 4.MINE SAFETY DISCLOSURES31ITEM 5.OTHER INFORMATION31ITEM 6.EXHIBITS31SIGNATURES33 PARTI — FINANCIAL INFORMATION Contents PageCondensed Consolidated Balance Sheets as of September 30, 2025 and June 30, 2025 (unaudited)2Condensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended September 30,2025 and 2024 (unaudited)3Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2025 and 2024(unaudited)4Condensed Consolidated Statements of Shareholders’ Equity and Redeemable Noncontrolling Interest for the threemonths ended September 30, 2025 and 2024 (unaudited)5Notes to condensed consolidated financial statements (unaudited)6 - 161 NioCorp Developments Ltd.Notes to the Condensed Consolidated Financial StatementsSeptember 30, 2025(expressed in thousands of U.S. dollars, except share and per share data or as otherwise stated) (unaudited) 1.DESCRIPTION OF BUSINESS NioCorp Developments Ltd. (“we,” “us,” “our,” “NioCorp” or the “Company”) was incorporated on February 27, 1987, under the laws ofthe Province of British Columbia and currently operates inonereportable operating segment consisting of exploration and development ofmineral deposits in North America, specifically, the Company’s niobium/scandium/titanium property (the “Elk Creek Project”) located insoutheastern Nebraska. The Company currently earns no operating revenues and will require additional capital in order to advance the ElkCreek Project to construction and commercial operation, as discussed in Note 3. 2.BASIS OF PRESENTATION a)Basis of Presentation and Consolidation The accompanying interim condensed consolidated financial statements have been prepared in accordance with generally acceptedaccounting principles of the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and ExchangeCommission (the “SEC”). The interim condensed consolidated financial statements include the consolidated accounts of the Companyand its wholly owned subsidiaries with all significant intercompany transactions eliminated. The accounting policies followed inpreparing these interim condensed consolidated financial statements are those used by the Company as set out in the auditedconsolidated financial statements for the year ended June 30, 2025. Certain transactions include reference to Canadian dollars (“C$”)where applicable. In the opinion of management, all adjustments considered necessary (including normal recurring adjustments) for a fair statement ofthe financial position, results of operations, and cash flows as of September