logo-loader
viewNioCorp Developments Ltd.

Proposed critical minerals list could boost Niocorp Developments permitting process, reckons HC Wainwright

Niobium, scandium and titanium are three metals Niocorp plans to produce in Nebraska

Periodic table
Niobium is among the super-alloys the firm aims to produce

Investment bank HC Wainwright has repeated  a 'buy' on Niocorp Developments Ltd (TSE:NB) on the back of news last week that super-alloy metals niobium, scandium and titanium are proposed to be on President Trump's critical minerals list.

In a Federal Register notice published on February 16, the Trump Administration included niobium, scandium, and titanium on a list of 35 materials proposed as "Critical Minerals".

These are the three the company plans to produce at its ambitious Elk Creek project in Nebraska.

"In our opinion, the proposed listing could significantly benefit the Elk Creek project if it results in a more efficient (and expedited) permitting process," said Wainwright analyst Heiko F Ihle.

"We also believe that the Trump Administration may be beginning to recognise the strategic importance of the Elk Creek project.

"This is due to the fact that Elk Creek is the only proposed mine in the US that is expected to produce two essential superalloy materials (niobium and scandium) that are currently supplied to the US solely by Russia and China."

The analyst also noted that NioCorp had recently announced a deal with The Nordmin Group to complete the detailed engineering for underground mine infrastructure at the project.

"Nordmin's main objectives include expediting the project's timeline to production, improving the project's environmental footprint, and reducing capital and operating expenditures," he said.

The target price is C$1.20 against a current price of C$0.64.

Quick facts: NioCorp Developments Ltd.

Price: 0.83 CAD

TSX:NB
Market: TSX
Market Cap: $194.92 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Ontario's cannabis retail expansion plan gives cannabis stocks...

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was 1.4% higher at 116.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF jumped 2.4% at C$9.55, while the OTCQX Cannabis index gained 0.6% to 434 points. Buds today are The Green...

1 day, 16 hours ago

2 min read