VANCOUVER, Feb. 11, 2015 /CNW/ - NioCorp Developments Ltd. ("NioCorp" or the "Company") [TSX-V: NB; OTCQX: NIOBF; and FSE: BR3] is pleased to announce it has been named in the 2015 TSX Venture 50® as the mining sector's top performing company.
The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange in each of the five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean technology - selected based on four equally weighted criteria: market capitalization growth, share price appreciation, trading volume and analyst coverage.
Not only was NioCorp's overall ranking highest among mining companies, but NioCorp's 420% price increase was also the largest percentage price increase of any TSX Venture 50® company - over all five industry sectors.
"We are honoured to be included in this prestigious ranking. To be the TSX Venture 50's #1 mining company is further validation of our current growth and success. We thank our valued employees, shareholders, board members and partners for their important support and contributions over the past year," said Mark Smith, Executive Chairman.
The Company is also pleased to announce it has received conditional approval from the Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture Exchange and list its common shares (the "Common Shares") on the TSX.
"Over the past year, NioCorp has made significant progress in advancing our resource estimate, and driving the Elk Creek project towards becoming the world's next producing Niobium mine. We just issued a news release (February 9, 2015) updating our resource on the Elk Creek Niobium deposit. In the past three months the Indicated tonnage has increased from 28.2 million tonnes to 81.2 million tonnes and the indicated grade has increased from 0.63% Nb2O5 to 0.71% Nb2O5 when compared to the September 9, 2014 Mineral Resource estimate. Consequently, the contained Nb2O5 in the Indicated Mineral Resource has increased from 177 million kilograms to 578 million kilograms, an increase of 401 million kilograms over the September 9, 2014 Mineral Resource estimate. This represents a 187% increase in Indicated resource tonnage and a 226% increase in Nb205," said Mr. Smith. "Our graduation to the TSX is an important step as we broaden our investor audiences both in Canada and abroad."
Final approval of the TSX listing is subject to NioCorp meeting certain standard requirements of the TSX, and raising an additional $1M in capital. NioCorp expects to satisfy all of the requirements and will make a further announcement once the TSX has issued a bulletin confirming the date on which trading on the TSX will commence.
About the Company: NioCorp is 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 is announcing an NI4-101 compliant resource with an effective date of February 6, 2015 reporting an Indicated Resource of 81.2 million tonnes grading 0.71% Nb2O5, containing 578.2 million kilograms of Nb2O5 and an Inferred Resource of 99.8 million tonnes grading 0.56% Nb2O5, containing 557.5 million kilograms of Nb2O5 (at a 0.3% Nb2O5 cutoff grade). 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
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.
SOURCE Niocorp Developments Ltd.
For further information:
contact the Company at (604) 568-7365 or via email at [email protected]