NioCorp (TSX:NB - OTCQX:NIOBF - FSE:BR3) is developing North America's highest grade, large tonnage, undeveloped Niobium project, located in Elk Creek, Nebraska. NioCorp is currently conducting a 3 stage infill drilling program to elevate the resource to the measured and indicated category, optimizing metallurgical recovery at SGS Canada and Hazen Research and will initiate a feasibility study with SRK Consulting in Denver.
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 successful producers.
Niobium prices have increased through several plateaus over the past 40 years, expressing the steady growth and stability in the marketplace. 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.