NioCorp and Northcott Capital Engage Firm to Serve as Independent Engineer for the Elk Creek Project Debt Financing Effort
May 01 2017 - 5:59AM
NioCorp Developments Ltd. (“
NioCorp” or the
“
Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3)
announces that it and Northcott Capital
(“
Northcott”) have engaged the engineering firm of
RPM Global (“
RPM”) to serve as independent
engineer as part of the anticipated process for obtaining debt
financing for the Elk Creek Superalloy Project (the “Project”) in
Nebraska.
A highly regarded international mineral resources consulting and
engineering firm, RPM (formerly RungePincockMinarco) will conduct
technical due diligence for the financial institutions expected to
form a debt syndicate to help finance the Project. RPM has
served as Lenders’ Engineer for a total of 32 projects over the
past five years, including in the China Molybdenum Company’s 2016
purchase of the Anglo-American Catalao Niobium mine in Brazil,
where RPM provided acquisitions due diligence, JORC Resource and
Reserve Statement review, and valuation support.
Northcott is leading the effort on NioCorp’s behalf to assemble
the expected debt component of the Project’s overall financing
package. NioCorp previously obtained in-principle eligibility
for a loan guarantee to be provided by the Federal Republic of
Germany to support the Company’s debt financing strategy.
That loan guarantee, if approved by the German government, may form
the anchor component of NioCorp’s debt financing.
“As part of our effort to continue to advance the Elk Creek
Project to construction, we are pleased to have RPM serve as the
independent engineer for the debt financing syndicate that we
expect to come together in support of the Project,” said Mark A.
Smith, CEO and Executive Chairman of NioCorp. “This is an
important step in the process and will help us hit the ground
running in the project finance effort once we complete work on the
Project feasibility study.”
On Behalf of the Board of Directors, "Mark Smith” Mark Smith
Executive Chairman, CEO, and Director
Source: NioCorp Developments, Ltd. @NioCorp $NB $NIOBF
#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 the timing
and results of the Project feasibility study, the potential
economic feasibility of the Project, the decision to begin
construction at the Project, the future debt financing needs for
construction at the Project, the services of the independent
engineer to the potential debt syndicate, the ability to form a
debt syndicate for the Project, and NioCorp’s ability to secure
necessary financing to construct the Project, including any
financial assistance from the German Government, and the speed with
which such financing can be secured, if at all. 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; and 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.
NioCorp Developments (TSX:NB)
Historical Stock Chart
From Mar 2024 to Apr 2024
NioCorp Developments (TSX:NB)
Historical Stock Chart
From Apr 2023 to Apr 2024