NioCorp Developments Ltd. (“
NioCorp” or the
"
Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) is
pleased to announce the successful conclusion of negotiations with
private landowners in the Elk Creek, Nebraska area that will allow
the Company to purchase land needed for the preferred layout of the
Elk Creek Superalloys Project’s (the “Project”) underground mine
and surface processing facility. Securing access to these
land parcels helps to advance the Elk Creek Project Feasibility
Study, which is nearing completion.
Initial construction activities related to the
Project are currently planned to launch in 2017, subject to the
issuance of a positive Feasibility Study for the Project, success
in the Company’s capital fundraising efforts, permit approvals, and
other factors listed below in the Company’s “Cautionary Note
Regarding Forward-Looking Statements.”
A total of 21 “Option to Purchase” agreements have
been signed with private landowners in the project area.
These agreements cover 4,078 acres (1,749 hectares) and provide the
Company with exclusive mineral exploration rights as well as the
exclusive right to acquire the mineral rights, surface rights and,
in most cases, both the mineral and surface rights at any time
during the five year terms of the agreements. The price the
Company would pay to acquire the rights is determined according to
a formula that is fixed in each agreement. The agreements
cover all of the Mineral Resources reported in the Company’s
October 2015 Preliminary Economic Assessment report.
“I am very pleased that we have reached these
agreements with local landowners in Nebraska, as building such
strong working partnerships with area residents has been one of our
top priorities from the very beginning,” said Mark A. Smith,
Executive Chairman and CEO of NioCorp. “This success is a
direct result of the hard work and strict adherence to our core
values of honesty and integrity that Scott Honan and his team have
followed from day one.”
Mr. Smith continued: “Excitement is clearly
building in Nebraska as we continue to advance the Project to
construction launch, hopefully later this year. We are
thrilled with the prospect of creating new jobs – many of which
will be high-skill, high-wage positions – initiating new job
training programs, providing a local and regional economic
stimulus, and generating new revenue to state and local
governments. We look forward to continuing to work in
partnership with local communities and area residents as we move
this project to commercial operation.”
County rights of way and a small number of land
access agreements related to the Company’s proposed waterline to
the Missouri River are in negotiation and are expected to be
completed prior to commencement of mine dewatering operations.
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith Executive Chairman, CEO, and
Director
Source: NioCorp Developments
Ltd. @NioCorp $NB $NIOBF $BR3 #Niobium #Scandium #ElkCreek
For More Information:
Contact Jim Sims, VP of External Affairs, NioCorp Developments
Ltd., 720-639-4650, jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials
project in Southeast Nebraska that will produce Niobium, Scandium,
and Titanium. Niobium is used to produce superalloys as well as
High Strength, Low Alloy ("HSLA") steel, which is a lighter,
stronger steel used in automotive, structural, and pipeline
applications. Scandium is a superalloy material that can be
combined with Aluminum to make alloys with increased strength and
improved corrosion resistance. Scandium also is a critical
component of advanced solid oxide fuel cells. Titanium is
used in various superalloys and is a key component of pigments used
in paper, paint and plastics and is also used for aerospace
applications, armor and medical implants.
Cautionary Note Regarding Forward-Looking
Statements
Neither TSX nor its Regulation Services Provider
(as that term is defined in the policies of the TSX) accepts
responsibility for the adequacy or accuracy of this document.
Certain statements contained in this document may constitute
forward-looking statements, including but not limited to statements
regarding potential future production at the Elk Creek Project,
anticipated products to be produced at the Elk Creek Project, the
future critical and strategic nature of niobium and scandium,
expected growing demand for metals to be produced at the Elk Creek
Project, potential future customers for such metals, stable future
pricing for ferroniobium, NioCorp potentially being the only
producer of ferroniobium and scandium in the United States,
estimated resources at the Elk Creek Project, future state and
local support of the Elk Creek Project, potential returns for
investors, anticipated costs of production at the Elk Creek Project
being competitive, anticipated competitive advantages, expected
date for beginning future commercial production, the timing,
completion and results of a feasibility study for the Elk Creek
Project, and results and estimates in the Preliminary Economic
Assessment, including but not limited to, potential life of mine,
pre-tax Net Present Value (NPV), after-tax NPV, Internal Rate of
Return and estimated cash flows from production. Such
forward-looking statements are based upon NioCorp’s reasonable
expectations and business plan at the date hereof, which are
subject to change depending on economic, political and competitive
circumstances and contingencies. Readers are cautioned that such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause a change in such
assumptions and the actual outcomes and estimates to be materially
different from those estimated or anticipated future results,
achievements or position expressed or implied by those
forward-looking statements. Risks, uncertainties and other factors
that could cause NioCorp’s plans or prospects to change include
changes in demand for and price of commodities (such as fuel and
electricity) and currencies; changes or disruptions in the
securities markets; legislative, political or economic
developments; the need to obtain permits and comply with laws and
regulations and other regulatory requirements; the possibility that
actual results of work may differ from projections/expectations or
may not realize the perceived potential of NioCorp’s projects;
risks of accidents, equipment breakdowns and labor disputes or
other unanticipated difficulties or interruptions; the possibility
of cost overruns or unanticipated expenses in development programs;
operating or technical difficulties in connection with exploration,
mining or development activities; the speculative nature of mineral
exploration and development, including the risks of diminishing
quantities of grades of reserves and resources; the risks involved
in the exploration, development and mining business, and the risks
set forth under the heading “Risk Factors” in the Company’s S-1
registration statement and other filings with the SEC at
www.sec.gov. NioCorp disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise.
Cautionary Note Regarding Mineral Resource
Estimates
The Company filed a technical report on SEDAR dated
October 16, 2015 entitled “Amended NI 43-101 Technical Report -
Updated Preliminary Economic Assessment - Elk Creek Niobium Project
– Nebraska” (October 15, 2015 PEA"). This preliminary economic
assessment is preliminary in nature and it includes a level of
engineering precision and assumptions which are currently
considered too speculative to have the economic considerations
applied to them that would enable Mineral Resources to be
categorized as Mineral Reserves. There is no certainty that the
economic estimates and projections in the preliminary economic
assessment will be realized and investors should consider such
estimates and projections to be highly speculative. Mineral
Resources that are not Mineral Reserves do not have demonstrated
economic or legal viability. Niocorp has classified NI 43-101
Inferred Mineral Resources and Indicated Mineral Resources at Elk
Creek that are disclosed within the Preliminary Economic
Assessment; however, Inferred Mineral Resources are not included in
the mine plan for the October 15, 2015 PEA. The Elk Creek Project
is exploratory in nature and investors should not assume that
Mineral Resources at the project will ever be converted to Mineral
Reserves with demonstrated economic and legal viability. The
pricing of scandium is a significant portion of the Project
revenue, and achieving the revenue projected in the October 2015
PEA is subject to market growth in scandium, which is a developing
market with a risk of oversupply and/or undersupply disrupting
pricing.
The Mineral Resource estimates and economic
assessments in this presentation have been prepared in accordance
with the requirements of the securities laws in effect in Canada,
which differ from the requirements of United States securities
laws. These definitions for Mineral Resources differ from the
definitions in the SEC Industry Guide 7 under the United States
Securities Act of 1933, as amended (the “Securities Act”). Under
SEC Industry Guide 7 standards, a “final” or “bankable” feasibility
study is required to report Mineral Reserves, the three-year
historical average price is used in any reserve or cash flow
analysis to designate reserves and the primary environmental
analysis or report must be filed with the appropriate governmental
authority.
The terms “mineral resource,” “measured mineral
resource,” “indicated mineral resource” and “inferred mineral
resource” are defined in, and required to be disclosed by NI
43-101; however, these terms are not defined terms under SEC
Industry Guide 7 and are normally not permitted to be used in
reports and registration statements filed with the SEC. Investors
are cautioned not to assume that all or any part of a mineral
deposit in these categories will ever be converted into mineral
reserves. “Inferred mineral resources” have a great amount of
uncertainty as to their existence, and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all
or any part of an inferred mineral resource will ever be upgraded
to a higher category. Under Canadian securities laws and
regulations, estimates of inferred mineral resources may not form
the basis of feasibility or pre-feasibility studies, except in rare
cases. Investors are cautioned not to assume that all or any part
of an inferred mineral resource exists or is economically or
legally mineable.
Accordingly, information contained in this document
incorporated by reference herein contain descriptions of our
mineral deposits that may not be comparable to similar information
made public by U.S. companies subject to the reporting and
disclosure requirements under the United States federal securities
laws and the rules and regulations thereunder.
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