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Last €0.49 EUR
Change Today +0.017 / 3.59%
Volume 3.0K
As of 3:39 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

niocorp developments ltd (BR3) Snapshot

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52 Week High
03/12/15 - €1.38
52 Week Low
10/15/14 - €0.32
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niocorp developments ltd (BR3) Details

NioCorp Developments Ltd. identifies, acquires, explores, and develops mineral resource properties in the United States, Canada, and Australia. The company explores for niobium and rare earth elements. It primarily holds a 100% interest in the Elk Creek Carbonatite property comprising 64 lease agreements covering an area of approximately 3,802 hectares located in southeast Nebraska, the United States. The company was formerly known as Quantum Rare Earth Developments Corp. and changed its name to NioCorp Developments Ltd. in March 2013. NioCorp Developments Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.

1 Employees
Last Reported Date: 10/28/14
Founded in 1987

niocorp developments ltd (BR3) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$222.4K
Compensation as of Fiscal Year 2014.

niocorp developments ltd (BR3) Key Developments

Niocorp Developments Ltd. Completes Second Preliminary Economic Assessment for its Elk Creek Niobium Project

NioCorp Developments Ltd. announced that it has completed a second Preliminary Economic Assessment (PEA2) for its Elk Creek Niobium Project. Highlights of the PEA2 include: Pre-tax NPV of $3.07 billion; Pre-tax IRR of 31.7%; After-tax NPV of $2.30 billion; After-tax IRR of 27.6%; Average pre-tax cash flow of $438 million; An increase in annualized Scandium Trioxide production to 97 tonnes; Annualized Ferroniobium production of 7,490 tonnes; Annualized Titanium Dioxide production of 23,960 tonnes; and Total upfront capital investment of $979 million. These highlights reflect the "base case" Scandium pricing scenario, which NioCorp has selected to use for the PEA2. The "base case" is taken from an independent Scandium marketing report, prepared for the Company by OnG Commodities. The report provides two cases for Scandium pricing: The "base case", which reflects pricing based on the current demand for Scandium from the fuel cell industry, along with the expected adoption of Scandium-Aluminum alloys by the aerospace industry; and The "slow aerospace case", which reflects a slower uptake of Scandium by the aerospace industry, comparatively. These highlights also reflect the results of a new independent marketing study for Ferroniobium completed by Roskill Consulting Group Ltd. The same assumptions regarding Titanium Dioxide pricing were used in the PEA2 as were included in the original PEA for the project. The calculations presented above utilize a discount rate of 8%. During bench and pilot testing of the metallurgical flowsheet for the proposed plant, it was determined that recoveries could be significantly increased by eliminating the flotation step and processing the resource directly through a hydrometallurgical process. The discovery of this positive change to the flowsheet prompted the Company's decision to prepare a new PEA. These changes will ultimately allow the Company to recover significantly higher percentages of all three elements from the resource, including Niobium recovery of 89.2%, Scandium recovery of 90.0%, and Titanium recovery of 87.6%. This in turn will reduce the volume of the resource required to be mined on a daily basis and enable the Company to achieve the same level of Ferroniobium and Titanium Dioxide production, as was noted in the Company's first PEA report, while increasing Scandium Trioxide output by approximately 661%. These changes result in minimal increases to Capex, compared to the first PEA.

NioCorp Developments Ltd. Announces Auditor Changes

NioCorp Developments Ltd. announced that Davidson & Company LLP Chartered Accountants of Vancouver, British Columbia, who have served as NioCorp's external auditors, will be succeeded by BDO USA, LLP effective June 24, 2015.

NioCorp Developments Ltd. Arranges USD 2 Million Non Revolving Credit Facility

NioCorp Developments Ltd. announced that it has arranged a non-revolving credit facility agreement in the amount of USD 2 million dated July 1, 2015 between the company and its Executive Chairman, Mark Smith. These funds will contribute to the continued work necessary to keep the Elk Creek Niobium Project on its original timeline for completion of the company's Feasibility Study. Each draw on the credit facility made by the company will be secured and evidenced by a promissory note in favor of Mr. Smith. The credit facility will bear an interest rate of 10%, is secured by the company's assets pursuant to a general security agreement, and is subject to both a 2.5% establishment fee and 2.5% prepayment fee. The amounts outstanding under the credit facility will become due June 17, 2016. The credit facility is subject to Toronto Stock Exchange approval, and is a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. Because the value of the credit facility is less than 25% of NioCorp's market capitalization, it is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The material change report in relation to the credit facility will be filed less than 21 days before the expected closing date as the company to complete the credit facility as soon as commercially practical after all required approvals are obtained.


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