NioCorp Developments Ltd. (NB) is considered one of the best metal stocks to buy right now. The company’s board approved the Mine Portal Project on December 22, allowing for the development of the Elk Creek Critical Minerals Project, with work estimated to cost around $44.6 million.

CEO Mark A. Smith views the Portal Project approval as a significant milestone for NioCorp, marking progress towards securing financing for the Elk Creek Project. H.C. Wainwright reiterated a Buy rating and raised the price target to $9.50 after NioCorp acquired FEA Materials LLC for $8.4 million, enhancing its ability to produce aluminum scandium master alloy in the US.

NioCorp Developments Ltd. recently acquired the assets of FEA Materials LLC, positioning the company to create the first fully integrated scandium supply chain in the US. The company aims to mine Niobium, Scandium, Titanium, and Rare Earth Elements (REEs) at the Elk Creek Project in Nebraska.

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