NioCorp (TSX.V:NB - OTCQX:NIOBF - FSE:BR3) is developing North America's highest grade, large tonnage Niobium project in Elk Creek, Nebraska. In 2014 the company plans to optimize metallurgical recovery, conduct infill drilling to elevate resource to the measured and indicated category and initiate a feasibility report.
NioCorp aims to be part of the solution for the World's strategic and critical Niobium needs for the steel, automotive and aviation industry. Niobium is crucial in high strength steel for bridges and buildings, high pressure oil and gas pipelines, lightweight and fuel efficient cars, stainless steel, MRI machines, wind turbines, airplane jet thrusters, and more.
Elk Creek is an advanced development project with over 53,000 meters of drilling that has produced an NI 43-101 resource report. The geological formation compares favorably to the 3 existing producers who all experience very healthy profit margins.
Niobium prices have increased several fold in the past decades and now remains very stable. In 2013 Niobium averaged approximately $42 per kilogram. Demand is expected to further increase in the coming decade as new applications are discovered every day and as the intensity use of Niobium in steel production continues to expand.
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