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
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
"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
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 firstname.lastname@example.org