NioCorp Developments: Improved Elk Creek Economics, De-Risked Project Profile, and Mine Portal Approval Drive Higher $11.25 Target and Reiterated Buy Rating
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Analyst Heiko Ihle from H.C. Wainwright has reiterated a Buy rating on NioCorp Developments, raising the price target to $11.25 from $9.50. This decision is based on improved project quality and risk profile following recent drilling results at Elk Creek. The approval of the Elk Creek mine portal project is seen as a significant step in enhancing project economics and reducing risks. NioCorp's strong cash position of $307 million supports near-term milestones, and Ihle believes ongoing progress will create long-term value for shareholders.
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