CENTENNIAL, Colo., Dec. 15, 2017 (GLOBE NEWSWIRE) — NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) announces that, in connection with a review by the Ontario Securities Commission (“OSC”), it has filed a Revised Technical Report (the “Revised Technical Report”) related to the Feasibility Study of the Company’s Elk Creek Superalloy Materials Project (the “Project”) in Nebraska.
The Revised Technical Report, which is available for download on SEDAR and on the Company’s website at www.niocorp.com, contains no changes to any previously reported numbers or forecasted economic returns of the Project from those contained in the Project Feasibility Study filed on SEDAR on August 11, 2017 (the “August 2017 Feasibility Study”).
At the OSC’s request, the Revised Report provides (1) additional information in Section 19.1.3 on the growth forecast for global scandium markets provided by an independent scandium market expert (OnG Commodities LLC and Dr. Andrew Matheson) and relied upon by the Company in its August 2017 Feasibility Study; (2) an analysis in Section 22.4 showing Net Present Value and Internal Rate of Return sensitivities of the Project at +/- 30% of the August 2017 Feasibility Study’s assumed product pricing, capital expenditures, and operating costs; (3) disclosure in Section 3 of the reliance on OnG Commodities LLC and Dr. Matheson; (4) the removal in Section 24 of certain disclosure regarding the Company’s relationship with Dr. Matheson; and (5) inclusion in Section 25 of certain risk factors.
In addition, the Company filed a material change report on November 10, 2017, regarding the June 30, 2017 announcement of the results of the Feasibility Study. This filing remedies the non-filing of a material change report in connection with such announcement.
On Behalf of the Board of Directors,
Executive Chairman, CEO, and Director
Source: NioCorp Developments Ltd.
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For More Information: Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 303-503-6203, firstname.lastname@example.org
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 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.
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