NioCorp signs land acquisition agreements for Elk Creek Superalloy Materials Project: Nebraska
Mark Smith, Executive Chairman, CEO, and Director of NioCorp. — Photo: NioCorp
Jan. 09, 2017 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. is pleased to announce the successful conclusion of negotiations with private landowners in the Elk Creek, Nebraska area that will allow the Company to purchase land needed for the preferred layout of the Elk Creek Superalloys Project’s (the “Project”) underground mine and surface processing facility. Securing access to these land parcels helps to advance the Elk Creek Project Feasibility Study, which is nearing completion.
Initial construction activities related to the Project are currently planned to launch in 2017, subject to the issuance of a positive Feasibility Study for the Project, success in the Company’s capital fundraising efforts, permit approvals, and other factors listed below in the Company’s “Cautionary Note Regarding Forward-Looking Statements.”
A total of 21 “Option to Purchase” agreements have been signed with private landowners in the project area. These agreements cover 4,078 acres (1,749 hectares) and provide the Company with exclusive mineral exploration rights as well as the exclusive right to acquire the mineral rights, surface rights and, in most cases, both the mineral and surface rights at any time during the five year terms of the agreements. The price the Company would pay to acquire the rights is determined according to a formula that is fixed in each agreement. The agreements cover all of the Mineral Resources reported in the Company’s October 2015 Preliminary Economic Assessment report.
“I am very pleased that we have reached these agreements with local landowners in Nebraska, as building such strong working partnerships with area residents has been one of our top priorities from the very beginning,” said Mark A. Smith, Executive Chairman and CEO of NioCorp. “This success is a direct result of the hard work and strict adherence to our core values of honesty and integrity that Scott Honan and his team have followed from day one.”
Mr. Smith continued: “Excitement is clearly building in Nebraska as we continue to advance the Project to construction launch, hopefully later this year. We are thrilled with the prospect of creating new jobs – many of which will be high-skill, high-wage positions – initiating new job training programs, providing a local and regional economic stimulus, and generating new revenue to state and local governments. We look forward to continuing to work in partnership with local communities and area residents as we move this project to commercial operation.”
County rights of way and a small number of land access agreements related to the Company’s proposed waterline to the Missouri River are in negotiation and are expected to be completed prior to commencement of mine dewatering operations.
Mark Smith
Executive Chairman, CEO, and Director
Source: NioCorp Developments Ltd.
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About NioCorp
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 ("HSLA") 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.
Cautionary Note Regarding Forward-Looking Statements Apply.
