NioCorp Swings to $3.7M Profit as Cash Hits $405M
NB is trading near its 52-week low of $3.03 (5.0% above the low).
Summary
NioCorp posted preliminary Q3 net income of $3.7M, or $0.03 a share, versus a $42.7M loss a year ago. The swing is almost entirely non-cash: about $8.5M of gains on earnout shares and warrants classified as liabilities, driven by the stock falling between June 30 and September 30. A year ago the same line item produced a $32.1M non-cash loss when the share price rose. Cash stood at $405.1M on September 30, down modestly from the $415M reported in the September 10-K, with $6.1M of operating and $5.9M of investing outflows tied to G&A and mine portal construction at Elk Creek. The company remains development-stage with no revenue, so the headline profit is an accounting artifact, not operating performance. The formal 10-Q is due on or before November 16.
At the time of this announcement, NB was trading at $3.18 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $455.8M. The 52-week trading range was $3.03 to $9.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.