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Niocorp surges on completion of technical review of Elk Creek project

The assessment concluded that the project has “favourable characteristics” and contains no technical fatal flaws

Superalloy
Niocorp recently inked a deal with Nordmin for detailed engineering, marking a major new phase in the site's evolution

NioCorp Developments Ltd (TSE:NB) announced the completion of an independent technical review of the company’s Elk Creek Superalloy & Critical Minerals Project.

The independent technical review was commissioned by Northcott Capital Limited, which is leading NioCorp’s effort to assemble financing for the project.

READ: Niocorp Developments makes more progress at Elk Creek as it advances underground mine to detailed engineering phase

As is common practice with due diligence documents commissioned as part of the project financing process, the results of the review will not be published; however, NioCorp did say the assessment concluded that the project has “favorable characteristics” and contains no technical fatal flaws.

Shares in NioCorp surged 6.3% to C$0.68 on the news.

Quick facts: NioCorp Developments Ltd.

Price: 0.72 CAD

TSX:NB
Market: TSX
Market Cap: $172.71 m
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