NioCorp Signs Agreement for Natural Gas Transport to its Elk Creek Superalloy Materials Project
November 09 2017 - 5:59AM
NioCorp Developments Ltd. (“NioCorp” or
the "Company”) (TSX:NB) (OTCQX:NIOBF)
(FSE:BR3) is pleased to announce that it has signed an
agreement with Rockies Express Pipeline LLC (
“Rockies
Express”) to construct and operate a 27.8-mile natural gas
pipeline that will supply the Company’s planned Elk Creek
Superalloy Facility (“Elk Creek Facility”). Securing natural
gas transport to the Elk Creek Facility is an important milestone
in the Company’s efforts to prepare the Elk Creek Facility project
for the onset of construction once project financing, permitting,
and other requirements are met.
Under the agreement, following the receipt of financing for the
project, Rockies Express has agreed to design, construct, and
operate a natural gas lateral line that will extend from the
Rockies Express main line in Marshall County, Kansas to the Elk
Creek Facility and will deliver at least 27,500 MMBTU (Million
British Thermal Units) of natural gas per day when the Elk Creek
Facility is fully operational. The value of the contract, to
be paid over a period of 11 years, is approximately $63
million. NioCorp expects to contract separately for the
purchase of the natural gas to be transported by Rockies
Express.
Rockies Express is responsible for obtaining all applicable
approvals, including necessary government permits required prior to
construction and operation of the underground pipeline.
“Arranging for long-term delivery of natural gas to the Elk
Creek facility is an important milestone to have reached, and we
are pleased to be working with the Rockies Express team on this
important aspect of our project,” said Mark A. Smith, Executive
Chair and CEO of NioCorp.
“Rockies Express is very pleased to have been selected as the
natural gas supply link for NioCorp’s Elk Creek Facility, an
important market outlet for natural gas supply sourced from the
Rockies. We look forward to working with the NioCorp team and
are excited to partner with them to contribute to the economic
development in the State of Nebraska,” said Crystal Heter,
President of Rockies Express.
Rockies Express Pipeline is one of the United States’ largest
pipelines and is the nation’s northernmost bi-directional natural
gas header system. The system consists of 1,712-miles of 36-inch
and 42-inch diameter natural gas transmission pipeline that extends
from the Rocky Mountains to Clarington, Ohio. Rockies Express
taps major supply basins in the Rocky Mountain and Appalachian
regions and serves energy markets across a vast segment of North
America. To learn more, please visit
www.tallgrassenergylp.com
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., 303-503-6203, 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 future
supply, and amount, of natural gas to the project through the
pipeline, the onset of construction once project financing,
permitting, and other requirements are met, the terms of the
agreement with Rockies Express, whether Rockies Express will be
able to obtain required approvals to construct the lateral pipeline
and whether that pipeline will be completed on time, on budget or
at all, and expectations as to contracting separately for the
purchase of the natural gas to be transported by Rockies Express.
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
risks related to the Company's ability to operate as a going
concern; risks related to the Company's requirement of significant
additional capital; changes in demand for and price of commodities
(such as fuel and electricity) and currencies; changes in economic
valuations of the Project, such as Net Present Value calculations,
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 in the Company’s 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.
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