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“ Timing is of the Essence “ and (TIMING is EVERYTHING!!!) —
I have been saying THAT on this board for at least 5 years —
SHEESH
LM.
NioCorp Joins With Major Automotive Manufacturers, Mining Companies and Electric Vehicle Battery Companies to Urge Action by Biden Administration on Mining Tax Incentive
CENTENNIAL, Colo. – February 8, 2024 – NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) (TSX:NB) joined with major automotive manufacturers, mining companies, and electric vehicle battery companies to urge the Biden Administration to allow a 10% tax credit to apply to both mineral extraction and mineral processing in the U.S.
In a joint letter this week to U.S. Treasury Secretary Janet Yellen, NioCorp and 45 other companies and associations, including Tesla, General Motors, and the Zero Emission Transportation Association, urged the Internal Revenue Service not to limit the Section 45X Advanced Manufacturing Product Tax Credit (the “45X Tax Credit”) only to the cost of processing critical minerals needed for electric vehicles and other clean energy technologies, but to extend the 45X Tax Credit to the cost of mining the minerals as well. The 45X Tax Credit was enacted with support from both political parties as part of the Inflation Reduction Act of 2022.
In the letter, NioCorp and other signatories explained their concerns as follows:
"Section 45X creates a new tax credit that provides $35 per kWh for each battery cell, $10 per kWh for each battery module, and covers 10 percent of the costs of production of the applicable critical materials, which will significantly drive down the costs of domestic clean energy manufacturing. Unlike other eligible components, applicable critical minerals are not subject to a credit phaseout after 2029, underscoring Congressional intent that the IRA incentivizes the onshoring of the critical minerals supply chain.
"If implemented thoughtfully, the 45X credit will ensure the success of current American industrial policy over the next decade by facilitating the deployment of domestically-produced clean energy technologies —particularly electric vehicles. However, the proposed guidance states that the only critical mineral production costs eligible to be counted toward the production tax credit are the downstream value-added activities that include chemical conversion and purification (i.e., processing). This concept would not provide a tax credit for the costs of domestic extraction of critical minerals, a key part of onshoring the supply chain.
…
"Congress intended the 45X tax credit to work in tandem with the clean vehicle credit’s sourcing requirements to stimulate domestic production of critical minerals and reduce the United States’ reliance on imported minerals," the coalition wrote. "To stimulate greater security of our domestic critical mineral supply chains and unlock the intended impact of the statute, the undersigned organizations urge the Department of the Treasury and the IRS to consider that direct and indirect material costs and costs related to the domestic extraction of raw materials are value-added activities and should be eligible to claim the 45X credit.”
The full text of the letter can be seen here.
Following the letter's transmittal, NioCorp’s Executive Chairman and CEO Mark A. Smith said the following: "If we want to reduce America's dangerous over-reliance on foreign nations for the critical minerals that enable our clean energy future and bolster our national defense, we need to promote both the mining and downstream processing of critical minerals here in America. That is how we re-establish fully integrated domestic supply chains and create a new generation of high-skill jobs. Without mining here at home to feed American value-added processing, these domestic supply chains can evaporate very quickly by the whims of foreign governments that want to undercut America’s global leadership and weaken our national defenses."
In addition to NioCorp, the companies and industry trade associations signing the letter included the following: Alaska Miners Association, American Critical Minerals Association, American Exploration & Mining Association, American Lithium Corp., American Rare Earths Ltd., Arizona Mining Association, Battery Materials & Technology Coalition (BMTC), Coeur Mining, Colorado Mining Association, First Mode, General Motors, GraphiteOne, Hecla Mining, Idaho Mining Association, Ioneer USA, Jervois, Liebherr, Lithium Americas, Lundin Mining – Eagle Mine, Materion Natural Resources, Metallic Minerals Corporation, Mining Minnesota, Montana Mining Association, MP Materials, National Mining Association (NMA), Nevada Battery Coalition, Nevada Mining Association, NewRange Copper Nickel, Nyrstar, Perpetua Resources, Piedmont Lithium, Ramaco Resources, Rio Tinto, Sibanye Stillwater, Society for Mining, Metallurgy, and Exploration, South32, Talon Metals, Teck Resources, TerraVolta, Tesla, The Women’s Mining Coalition, U.S. Battery Machine Builders Coalition, USA Rare Earth, LLC., Utah Mining Association, and the Zero Emission Transportation Association (ZETA).
To learn more about NioCorp's Elk Creek Critical Minerals Project (the “Project”), please go here: https://www.niocorp.com
# # #
Twitter
Facebook
Website
Email
YouTube
LinkedIn
CONTACTS:
Jim Sims, Chief Communications Officer, 720-334-7066
Email: jim.sims@niocorp.com
@NioCorp $NB $NB.TO #niobium #scandium #titanium #rareearth #neodymium #dysprosium #terbium #ElkCreek #EV #electricvehicle
ABOUT NIOCORP
It’s time to have SOME NEWS again ???!! —
Chico had a great post on Reddit
https://www.reddit.com/r/NIOCORP_MINE/comments/1ahktin/niocorppart_ii_chief_operating_officer_scott/
Read more :
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NioCorp News :
NioCorp Collaborating with Leading UK-Based Research University to Develop Innovative Aluminum-Scandium Alloys for the Automotive Sector
CENTENNIAL, Colo. – January 30, 2024 – NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) (TSX:NB) is pleased to announce that the Company has entered into an agreement with London-based Brunel University London, a leading research university focused on application of cast aluminum alloys globally, to develop innovative aluminum-scandium alloys and applications for use in the automotive sector.
NioCorp has joined with the Brunel Centre for Advanced Solidification Technology (“BCAST”) to develop a range of innovative aluminum alloys for the automotive sector. These alloys will utilize scandium to enhance the performance of aluminum components in order to facilitate:
Vehicle light weighting – developing aluminum-scandium alloys that reduce weight, increase automobile efficiencies, and reduce emissions;
Recycling – utilizing the performance-enhancing attributes of scandium to increase recyclability, creating sustainable low-carbon circular supply chains; and
Cost Reduction – reducing manufacturing costs and waste through utilizing scandium to increase the strength, ductility, weldability, durability, surface finish, and corrosion resistance of critical aluminum components.
"We are excited by the opportunity of working closely with what we believe is a world-leading team to develop innovative solutions that we expect will bring real value to the automotive sector and facilitate the transition to a more sustainable future. While this initiative is targeted to automotive markets, the outcomes of our work could possibly be broadly applied across many other markets, such as aerospace, defense, and others, where strength improvements, corrosion resistance, and weldability are important,” said Mark A. Smith, Chairman and CEO of NioCorp.
NioCorp plans to produce approximately 100 tonnes of scandium per year from its Elk Creek Critical Minerals Project (the “Project”) in southeast Nebraska once the Project is financed, constructed, and ramped up to full commercial production. If full commercial production was accomplished, NioCorp would be the world's single largest producer of scandium, which is designated by the U.S. Government as a critical mineral for the U.S. economy and national security.
To learn more about NioCorp's Elk Creek Critical Minerals Project, please go here: https://www.niocorp.com
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WTF ever happen with the “ Carlyle Group “ and “ TechMet “ and several other heavyweights - that were champing at the BIT to partner up with NioCorp ???
Sheesh …!
Keeping it fresh —
https://www.accesswire.com/823794/niocorp-issues-2023-year-in-review-report
CENTENNIAL, CO / ACCESSWIRE / January 11, 2024 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB)(TSX:NB) today issued the following 2023 Year in Review report to its shareholders by its Chairman and CEO, Mark A. Smith.
2023 Progress Positions NioCorp
for Historic Advancements in 2024
January 11, 2024
Dear Shareholders:
As we launch into 2024, I have been reviewing many elements of NioCorp's progress in 2023 on the Elk Creek Critical Minerals Project. The Company took some enormous strides over the past year that I believe position us to achieve historic advancements in 2024. I want to share my thoughts and takeaways on the year that was 2023, and on our goals for the coming year.
The first quarter of 2023 was marked by some very important milestones for the Company and the Elk Creek Project. We received a letter of interest from the Export-Import Bank of the United States ("EXIM") regarding EXIM's interest in potentially making available as much as $800 million in debt financing to the Elk Creek Project. We saw excellent demonstration plant results for rare earth processing and recovery from ore that the Company expects to extract from the Elk Creek Project. FoxNews published an op-ed I wrote regarding my prediction that China will eventually reduce or cut off exports of rare earth minerals to the West - emphasizing the critical need for the U.S. to start making more of its own critical minerals. We also earned a front-page New York Times article that helped to elevate the visibility of the Elk Creek Project around the world.
As the year progressed, we signed a term sheet with Stellantis, the world's third largest automaker, announcing our shared intent to execute definitive agreements on a rare earth offtake contract as well as a possible strategic investment in NioCorp by the automaker. Work on these agreements is proceeding on a good pace.
We also completed all metallurgical test work related to an improved process flow sheet at our Quebec-based demonstration plant in 2023. That effort achieved some very powerful results that have the potential to significantly improve the Elk Creek Project's projected economics and process efficiency and expand our planned product offering.
NioCorp to Present at Defense Industry Rare Earths Mine-to-Magnets Workshop
ACCESSWIREJan 15, 2024 6:00 AM EST
CENTENNIAL, CO / ACCESSWIRE / January 15, 2024 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB)(TSX:NB) is pleased to announce that it will present on the Elk Creek Critical Minerals Project (the "Project") at the Mine-to-Magnets Workshop (the "Workshop"), hosted by the National Defense Industries Association ("NDIA") in Bethesda, MD on January 16-17, 2024. Most of the world's largest defense industry companies are expected to be in attendance.
NioCorp Executive Chairman and CEO Mark A. Smith will present on the Project on Wednesday, January 17, 2024. The Workshop is being held at Lockheed Martin's global headquarters in Bethesda, a suburb of Washington, D.C. Details on the event, which is not open to the public or news media, can be seen here: https://www.ndia.org/events/2024/1/16/mine-to-magnet/agenda
In addition to defense contractors, senior officials from the U.S. Departments of Defense, Commerce, Energy, and other federal agencies, as well as senior officials from the U.S. House and Senate, are also expected to be in attendance.
Sounds GREAT !
LM.
# # #
Worthy of a re-play! …
Prudent Capitalist
Re: None
Wednesday, November 08, 2023 1:14:29 PM
Post# of 107203 Go
Positive News and Development: I frequently check the EXIM website to see if there is anything referencing our project or application. This morning, much to my surprise and delight, there was a new reference to Niocorp's (NB) Elk Creek project listing us as a "Pending Transaction," as of November 8, 2023, which is today and listed as the "Project Posting Date". In fact, it appears to be referenced as a "Pending Approved Transaction," but no one should believe it has actually been finally approved by the EXIM Board of Directors, which would be the final required approval. I tried to reach out to Jim Sims for more information, but he was out of the office. I thought this was important enough to call him. When I reached him, Jim indicated that he, Mark and Scott are out at the sight near Elk Creek working on the project, and they were actually at that time meeting with a Japanese Business News crew that was there doing a major story on the project. Jim stated that they have a lot of potential investors in Japan and that this was a very positive development. He also confirmed that NioCorp has moved beyond the very important first stage of being passed on by the Transaction Review Committee 1 (TRC 1), and that is the point where EXIM lists the transaction as "pending", but he emphasized that there are 2 more additional stages prior to Board of Directors approval. He did also emphasize that, to his knowledge, there has not previously been any applicant moving to this stage and not receiving final approval from the Board. But he noted that might not include any applicants that withdrew from the process due to finding other funding, etc. In any event, he stated this is a very big step. He stated EXIM will not allow Press Releases in the middle of the process, but that since I found this information on the EXIM website, he was permitted to discuss it and share additional information. Needless to say, this is a huge step and very positive development. The link to the EXIM site and information on our "pending transaction" is below.
https://www.exim.gov/policies/exim-bank-and-environment/pending-transactions
HIGH-VALUE NEW PRODUCTS NOW POSSIBLE
Chief among the benefits are several new products that we have demonstrated the ability to make from ore that we expect to extract from the Elk Creek Project:
>>> Magnetic Rare Earths
As we reported in 2023, our plant showed that our new process can produce at demonstration scale magnetic rare earth products with commercial purities at recovery rates of 92% or better. As anyone with experience in commercial rare earth production will tell you, this is considered a very high rate of recovery. I see it as a testament to both the processing system’s design and to the deep rare earth processing experience of the NioCorp team. Both Scott and Rick Sixberry, our Director of Process Development, spent years producing commercial rare earth products at the Mountain Pass rare earth facility. Scott ran the Mountain Pass facility at one point, and Rick spent 40 years there making rare earth products. Few Americans have the depth and hands-on experience in producing rare earths at commercial scale as Scott and Rick.
The magnetic rare earth oxides we might produce (neodymium, praseodymium, terbium and dysprosium) are enormously valuable because of their wide use in clean energy technologies such as electric and hybrid vehicles, wind turbines, high-efficiency electric motors, and other applications that save energy and avoid air emissions. Please see the cautionary statements in the End Notes at the conclusion of this review about our prospective rare earth development plans.(i)
In particular, our potential to produce high-purity heavy rare earths such as dysprosium and terbium also sets the Elk Creek Project apart from many other critical minerals plays. Terbium and dysprosium are used in high-strength rare earth permanent magnets that are crucial to the traction motor systems in the majority of electric vehicles today, yet global supply chains for these strategically critical elements are especially precarious today. Nearly all of the world’s dysprosium and terbium is processed in China, and nearly all of the dysprosium and terbium processed in China is mined in war-torn regions of Myanmar. Such critical mineral supply chains represent enormously high risk for nations such as the U.S. that very much need these strategic materials.
TAKEAWAY: Coupled with what might be generated from potential greater production of both niobium and titanium per tonne of mined ore, the potential addition of rare earths could significantly shift the projected product revenue mix of the Elk Creek Project and more evenly distribute revenue across our planned products. That would provide additional risk mitigation to investors. All of this awaits final validation in an updated Feasibility Study and is subject to our ability to obtain sufficient project financing to move the Elk Creek Project to commercial production, but, again, I am anxious to release the details of our expanded planned product offering.
>>> Higher Niobium Recovery with Higher-Purity Niobium Products
Our new and improved recovery process can achieve, at demonstration scale, a 90.7% rate of niobium recovery through the hydrometallurgical process.Overall recovery through the pyrometallurgical production of the commercial product ferroniobium is expected to be 86.7%.Our previous approach to niobium production was able to achieve recovery rates, at demonstration scale, through the hydrometallurgical and pyrometallurgical processes of 86.8% and 82.4%, respectively.This points to the likelihood of higher niobium production levels from the same mining tonnage.
What’s more, while we intend, when and if the Elk Creek Project reaches the production stage, to convert the majority of our niobium reserve into commercial ferroniobium, which is used to strengthen steel, our new process can make, at demonstration scale, higher-purity niobium in the form of niobium chloride, which can readily be converted to high-purity niobium oxide (Nb2O5). This product is sold into many different markets, including superalloys, carbides, superconductors, electronic components, ceramics, gas and wind turbines, medical imaging, particle accelerators, space travel, and in the manufacture of high-performance and ultra-safe, ultra-rapid rechargeable batteries for electric vehicles.
TAKEAWAY: While NioCorp has already contracted for sale up to 75% of our production of niobium in the form of ferroniobium to two customers over the first 10 years of production, and the remaining 25% is potentially available for sale as either ferroniobium or niobium oxide, NioCorp is now exploring the potential to secure offtake agreements for niobium oxide in addition to ferroniobium.
About NioCorp
NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. The Company also is evaluating the potential to produce several rare earths from the Elk Creek Project. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of Neodymium-Iron-Boron magnets, which are used across a wide variety of defense and civilian applications.
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The objective is to enter into a definitive rare earth supply agreement to support Stellantis’ commitment to build resilient supply chains and reach carbon net zero by 2038 and to help accelerate NioCorp’s path to commercial production of magnetic rare earth oxides in the U.S.
The Term Sheet executed today envisions a definitive agreement for a 10-year offtake contract for specific amounts of neodymium-praseodymium oxide, dysprosium oxide, and terbium oxide that NioCorp aims to produce at its Elk Creek Critical Minerals Project (the “Elk Creek Project”) in southeast Nebraska, subject to the receipt of adequate project financing.
OK.
Yes Putz, it would be nice to see multiples of 5-7X — I believe this is Possible — when do you think we will hear from (EXIM Bank) ?? any guesses?
LM
I would agree NCT —
The very minute we hear that NioCorp has “secured Project Funding “ we’re off to the moon!!!
And we’re not talking $5 per share! —
( Market cap—or market capitalization—refers to the total value of all a company's shares of stock. It is calculated by multiplying the price of a stock by its total number of outstanding shares. For example, a company with 20 million shares selling at $50 a share would have a market cap of $1 billion. ) …
Metals and mining - Mcap: US$103m - Price: US$3.08 - Initiation
NioCorp Developments
Niobium husking
NioCorp is developing the Elk Creek mine in Nebraska, which currently hosts the second largest ‘indicated’ or better rare earth resource in the US and, once in production (potentially in FY27), will be North America’s only mine producing niobium, scandium, titanium and rare earths (all of which the US define as ‘critical’). A definitive feasibility study (DFS) on the project in June 2022 calculated a pre-tax internal rate of return (IRR) of 29.2% and a post-tax net present value (NPV8) of US$2,350m, or US$70.51 per existing share in issue, to which NioCorp’s shares are currently trading at a 95.6% discount. However, the project now appears poised for a material change in product mix to improve its economics and reduce its previous, heavy reliance on scandium revenue.
Read this report >
Analyst
Lord Ashbourne
Mining analyst
mining@edisongroup.com
+44 (0)20 3077 5700
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Does anyone know if/whether “ Peter Dickie “ still has his copious amounts of NIO SHARES .?… I’m just curious —
LM.
Elk Creek Project Expected to Deliver Significant Cash Flow Over 38-Year Life
Elk Creek Project Metrics Summary1
2022 Elk Creek Feasibility Study Economic Results
(not including REE production)
(US$ Millions)
Pre-Tax Net Present Value (NPV) (8% discount) $2,819
Pre-Tax Internal Rate of Return (IRR) 29.2%
After-Tax NPV $2,350
After-Tax IRR 27.6%
After-Tax Payback Period from Production Onset (years) 2.69
Total Upfront CAPEX $1,141
Mine Life (years) 38
Life of Mine (“LoM”) Gross Revenue ($M) $21,900
Niobium $7,968
Scandium $13,504
Titanium $427
Averaged Annual EBITDA over LoM2 $397.5
Averaged EBITDA Margin over LoM (EBITDA as % of total revenue)2 69%
Averaged Annual Operating Cash Flow over LoM2 $337
Average Annual Operating Cost, LoM (OPEX) (US$/t) ($195.9)
Averaged Annual EBITDA over Run of Mine (“RoM”) 2 $403
Averaged EBITDA Margin over RoM (EBITDA as % of total revenue) 2 68%
Averaged Annual Operating Cash Flow over RoM2 $340
Effective Tax Rate 16.4%
When were we supposed to hear BACK from (Export-Import Bank (EXIM) ) — ? thought it was supposed to be in 2023 ??? …Hmmm
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Best advice I can give is - don’t engage - and block his posts —
WELL we have achieved the 52 week LOW !! isn’t that GREAT…
That’s FG!
We need (transparency) ASP —
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If the funding (EXIM export BANK) FUNDING comes though !? - and OR Stellantis !!! This project’s share-price will, EXPLODE !!
Yesterday has come and gone —
Forget about yesterday “ it is what it is “ now!
GL
LM
Hoping there’s $$$ for the NB funding!? :
https://www.washingtontimes.com/news/2023/dec/12/senate-voting-national-defense-authorization-act-m/
Hoping there’s $$$ for the NB funding!? :
https://www.washingtontimes.com/news/2023/dec/12/senate-voting-national-defense-authorization-act-m/
Worthy of a second read (imo) :
Jul 28 2023
ICYMI: Fischer Advances Defense Funding Bill in First Key Step
Includes Over $170M in Funding for Nebraska Military Equities & Key National Security Priorities
WASHINGTON, D.C. – U.S. Senator Deb Fischer (R-Neb.), a member of the Senate Appropriations Committee, announced today that she secured over $170 million for critical Nebraska and national defense priorities in the Fiscal Year 2024 (FY24) Defense Appropriations bill.
The bill, which must still be voted upon by the Senate and reconciled with the House bill, was advanced Thursday by the Senate Appropriations Committee by a vote of 27-1 as a first key step.
“This important legislation will provide a 5.2% pay raise for our troops and ensure that the United States is better able to meet the changing global threat environment. Nebraska’s military installations are vital to our national defense, and I was proud to secure provisions to support STRATCOM and Offutt. I’m also glad this legislation fully funds key components of our nuclear triad and expands munitions procurement. As the only Republican Senator who serves on both the Appropriations and Armed Services Committees, I’ll continue to be a strong champion for measures that keep our nation safe,” said Senator Fischer.
The legislation includes a number of Fischer-backed provisions, including $90 million for the nuclear-armed sea-launched cruise missile (SLCM) program, which the Biden administration previously attempted to cancel. Senator Fischer continued her legacy of spearheading efforts to modernize America’s nuclear triad by introducing additional funding.
The defense appropriations bill also supports funding for multi-year munitions procurement contracts, which Senator Fischer has long supported. Senator Fischer secured provisions in the Fiscal Year 2024 National Defense Authorization Act (NDAA) that would obtain multi-year procurement authority for certain munitions.
Provisions secured by Senator Fischer in the funding legislation include:
$90 million for the nuclear-armed sea-launched cruise missile (SLCM)
$15 million for STRATCOM’s NC3 Enterprise Center’s network sensor demonstration
$10 million for STRATCOM’s NC3 Enterprise Center's Rapid Engineering Architecture Collaboration Hub (REACH) program
$9 million for 557th Weather Wing data migration
$9.7 million to create a Digital Transformation Office
$10 million in Defense Production Act funding to support aluminum-scandium master alloy production
$15 million for the Joint Civilian-Military Medical Surge Pilot Program
$2.5 million in research funding for study of Entry Control Points at military installations
$1.5 million in research funding for development of an Automated Resuscitation Catheter (ARCA)
$3.25 million in research funding for shaping metallic surfaces for thermal system management.
$2.5 million in research funding for to enhance musculoskeletal performance (specifically in cold weather)
$5 million to support small business participation in the hypersonics industrial base
Permalink: https://www.fischer.senate.gov/public/index.cfm/2023/7/icymi-fischer-advances-defense-funding-bill-in-first-key-step
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