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NioCorp surges as it files feasibility study for Elk Creek

The feasibility study placed a net present value of US$2.3bn on the Elk Creek super-alloys project
Ferroniobium sample from Elk Creek
"This project is ready to move forward," said Mark Smith, the executive chairman and CEO of NioCorp

Shares in NioCorp Developments Ltd (TSE:NB) surged on Friday as the mine developer filed an NI 43-101 feasibility study for the Elk Creek project.

The filing of the technical report, details of which were first published on 30 June, counts as a milestone in the development of the super-alloys project, as it can be used as a reference point in financing discussions.

READ NioCorp's feasibility study places NPV of US$2.3bn on Elk Creek

“The filing of our NI 43-101 Technical Report allows us to accelerate our ongoing discussions with potential institutional investors in the U.S., Asia, Europe, and elsewhere, including with the German government’s loan guarantee program,” said Mark Smith, the executive chairman and chief executive officer of NioCorp.

“The Elk Creek Project is highly unique on many levels, and one of the most powerful aspects of the project is that it enjoys a level of project de-risking that is one of the best I have seen,” Smith declared.

“The project has 75% of its ferroniobium product under contract. It has a key federal permit already in hand. It enjoys strong local community support, and support from both political parties. It now has a very detailed feasibility study that was completed after just over three years of work. This project is ready to move forward,” Smith added.

Shares in NioCorp were up 6.8% at C$0.63 in lunchtime trading.


 

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