NioCorp Developments Ltd.: President's Report, 2013
2014年1月8日 - 11:00PM
Marketwired
NioCorp Developments Ltd.: President's Report, 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 8, 2014) -
NioCorp Developments Ltd. ("NioCorp" or the "Company")
(TSX-VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to provide
the following report on 2013 activities.
During the last quarter of 2013, on the strength of enhanced
management and the Elk Creek niobium deposit, NioCorp successfully
raised in excess of US$1.65 million. This occurred in spite of
persistent difficulties in capital markets experienced by most
companies. Receipt of these proceeds have allowed for commencement
of mineralogical and metallurgical studies.
Recognizing the overall capital market situation that persisted
in 2013, NioCorp management focused efforts to advance the Company
through the most cost effective means possible. Significant effort
was put into bolstering the management team, enhancing community
relations, and continuing correspondence with potential
partners/investors in preparation for ramping up activities.
First Half, 2013:
- In February, NioCorp welcomed the Honorable Tony Fulton, former
State Senator in the State of Nebraska, to the advisory board. As
an engineer and successful local businessman, Tony will provide
tremendous help and insight into community relations and permitting
logistics.
- In February, NioCorp welcomed the addition of Mark A. Smith,
former CEO and President of Molycorp, to the advisory board. Having
recently served as President and CEO of Molycorp, who discovered
the Elk Creek deposit, Mark is familiar with the project, and as
Molycorp's "shareholder representative", representing their
ownership interest in CBMM, the world's largest Niobium producer,
he was also keenly aware of the attributes and benefits of the
Niobium industry. This move followed the late 2012 addition to the
board of directors of Claude Dufresne, an individual recognized
throughout the world for his niobium marketplace knowledge.
Second Half, 2013:
- In September, following several months of additional due
diligence on his part, Mark A. Smith agreed to become a director of
NioCorp, and also to take over the role of Chief Executive Officer
of NioCorp. In addition to his increased role with the Company, and
indicative of his belief in the project, Mark acquired through the
markets and through a capital raise, a total of 8.4 million shares
of NioCorp, representing 8.4% of the issued capital of the
Company.
- In December, NioCorp completed a capital raise, grossing over
US$1.65 million, improving the balance sheet, providing capital
allowing for commencement of mineralogical and metallurgical
studies, and to ensure continuity of the Company.
- Discussions commenced regarding the framework of development
permitting in preparation for feasibility work in late 2014, early
2015.
- Shareholders overwhelmingly approved all directors and motions
at the Annual General Meeting in December, with over 99% of cast
votes in favour of all agenda items.
Full year, 2013:
- Increased year end share price by 60%, and market
capitalization by more than 75%, benefitting all shareholders, in
contrast to the 25% drop in the overall TSX Venture Exchange
Index.
- Continued relationship building with local community,
government bodies, and potential strategic partners/investors.
Looking forward to 2014, NioCorp has positive capital available
for corporate development, mineralogical and metallurgical studies
are underway, discussions continue regarding financial and
strategic partnership options with a variety of parties, and with
our enhanced management team, continue planning to enhance the
corporate capital position and develop the Elk Creek Niobium
deposit.
About the
Company: NioCorp are developing the only primary niobium
deposit known to be under development in the U.S., and the highest
grade undeveloped niobium deposit in North America, located near
Elk Creek, Nebraska. The Company has published an NI43-101
resource of 19.3 Million tonnes grading 0.67% Indicated, containing
over 129,182 tonnes of Nb2O5,
and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes
of Nb2O5. Niobium is mainly used in
the form of Ferro-Niobium to produce HSLA (High Strength, Low
Alloy) steel, to produce lighter, stronger steel for use in
automotive, structural and pipeline industries. The U.S. imports
100% of its niobium needs.
ON BEHALF OF THE BOARD
Peter Dickie, Director, President and Corporate Secretary
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements contained in this press release may
constitute forward-looking statements. 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
labour 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. 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.
This press release is not for distribution or dissemination
in the United States and accordingly, shall not constitute an offer
of securities in the United States. The securities that may be
issued pursuant to this press release are not currently qualified
by prospectus or registered under the U.S. Securities Act of 1933,
as amended (the "Securities Act"), or
the laws of any state, and may not be offered or sold in the United
States, or to, or for the account or benefit of United States
persons (as defined in Regulation S under the Securities Act) or
persons in the United States absent registration or an applicable
exemption from the registration requirements. The securities are
subject to resale restrictions under applicable securities
laws.
NioCorp Developments Ltd.(604) 568-7365www.NioCorp.com
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