Niocorp Developments Ltd (NB)

[chico237]

(Repost update of my -NIOCORP DD- FOLLOW the trail....)

NIOCORP'S ESG driven, Generational- Elk Creek Mine is ready to go; "shovel ready!!" NIOBIUM, SCANDIUM, TITANIUM & REE's (if viable). Located in a stable, friendly jurisdiction -(Nebraska) U.S.A. Permitted, Bank F.S. completed, Good % of product already under enforceable contracts. "But you don't have to take my word for it!" See the Niocorp's website:
https://www.niocorp.com/

Articles imply Niocorp applied for Pentagon funding in 2020 -
It's Time to Get the Heck Out of China
May 2020 by Scott Harn
https://www.icmj.com/magazine/article/its-time-to-get-the-heck-out-of-china-4226/

"As I write this, MP Materials announced they also received a Defense Department contract to supply heavy rare earth elements. There do not appear to be many other options at the present time, at least until alternative mines and refineries become established.

Other companies that have applied for funding from the Pentagon include Canada’s Medallion Resources LLC and Search Minerals Inc.; NioCorp of Nebraska; Materion Corp and UCore Rare Metals of Alaska; and Texas Mineral Resources Corp.

According to the DOE, the US government is actively seeking new sources of rare earth elements while exploring methods to recycle rare earth magnets, and does not share any of this research with MP Materials."

Rare earths projects under development in U.S.
https://www.reuters.com/article/us-usa-rareearths-projects-factbox-idUSKCN2241L6

NIOCORP's- REE's, Niobium & Scandium ranked #1,#2 & #3. The proven resource may also be much larger. Just listen to Mark Smiths presentation:
https://secureservercdn.net/198.71.233.33/gx0.d43.myftpupload.com/wp-content/uploads/NioCorp_Presentation_April_2021.pdf

USGS geological survey (please read)
https://www.researchgate.net/publication/265685666_Geophysical_expression_of_a_buried_niobium_and_rare_earth_element_deposit_The_Elk_Creek_carbonatite_Nebraska_USA

USGS & other articles indicate the resource could be much larger!
"Geophysical anomalies indicate that a significant volume of dense and strongly magnetized rocks must exist at a depth below the deepest boreholes. These rocks likely represent more MB and thus niobium mineralization, or could reflect another unknown lithology that is also dense and strongly magnetized."

"Hence more drilling"... to prove out more reserves once mine is sunk. This system could be connected to a larger or undrilled resource/s as depicted in the scans??? Just my opinion on the information presented that Niocorp could potentially double the size of the resource in time??


NIOBIUM ranked #2 on the 2021 U.S. Critical Minerals List Review:
https://pubs.usgs.gov/of/2021/1045/ofr20211045.pd

"Using a risk-modeling framework, these
factors were evaluated quantitatively and, in certain cases
qualitatively, to determine which mineral commodity supply
chains posed the greatest supply risk to the United States."

(Niobium is ranked 2nd as the most critical U.S. mineral 2021!)


The BENS US Critical Minerals List Criticality Ranking:
#1)RARE EARTHS
#2)SCANDIUM
#3)NIOBIUM
https://www.bens.org/file/councils/Criticality-Ranking.pdf


From the Nov. 5th 2020 AGM: Scott Honan speaking-
https://www.youtube.com/watch?v=5t5nNhW3FNs
-(About the 7:40 minute mark)-
.

"The money may come in tranches; some of them may be bigger & some of them may be smaller. It will likely be some kind of a mix between Debt & Equity.

The first 8-9 months are really an engineering effort. We need to advance detailed engineering to get to the point where we can start constructing things on the ground.
"I think the point I want to make here is that… when we think about execution planning. We really are adaptable to the ultimate financing mix & when the financing arrives! So… for instance we might get an initial offering of modest size. We might get the land we need; so instead of getting the land in month five we get it at the beginning!!!
"We would probably prioritize the work we need on permitting & the utilities we need to run the operation. We certainly want to spend some money on advancing the detailed engineering; & we want to keep a little money aside to cover our operating expenses!!! While we pursue subsequent tranches of funding!"

Shaft Freezing Process: to the Nov. 5th AGM 2020 (@34 min. mark)
https://www.youtube.com/watch?v=5t5nNhW3FNs

Scott details the shaft freezing methods to be utilized. Up-Front the "Drilling"-Hydrology, including Geo Tech. work takes approx. 6-7 months & the ground Freezing itself 5-6 months.

Cementation should be finishing up on "costing out" the underground portion & moving onto engineering. (Waiting for announcements from the team here)
Other items of work as Scott describes can/will go on during this time...including Utilities to site, permits, above ground engineering etc. as funding allows.

PLEASE LISTEN TO THE QUESTIONS SECTION-"EVERYONE asked some darn good questions!" ...very interesting listen!
(@50 min. mark) During Question Section. A question was asked about air permit expiring (18months)Section#282- Scott mentions starting grading, leveling, & mobilization or & including

"signing a contract with a termination clause" (i.e. with Cementation or Zachary) would cover "construction clause" & meet air permit requirements as "***STARTING CONSTRUCTION!****.

They could also ask for an extension with the state of Nebraska as well.
JUNE 30th 2020 -
https://www.niocorp.com/niocorp-receives-construction-air-permit-from-state-of-nebraska-for-its-elk-creek-superalloy-materials-project/

****NOTE: SCOTT also states "THEY CANNOT START CONSTRUCTION UNTIL THEY OWN THE LAND!!!!"

Questions & responses responses from Jim Sims...
(repost for all new board members)

On 9/15/20,
Morning Jim
In 2018 & 2019 Niocorp produced Aluminum Scandium Alloys in conjunction with IBC & Ames laboratory. I would like to know if any patents were issued or applied for as a result of those alloys produced?
Looking forward to the upcoming presentations on the 16th & 17th.
Jim's response:

No patents have yet been filed as part of this effort, as our work to date has focused on tried-and-true metallurgical techniques to produce aluminum-scandium master alloy. This helps to reduce the technology and execution risk.
Thx,
Jim

I’ve gotta go with a follow up question...
Will/are - Chris Huskamp/IBC or other entities continuing to pursue or following up on the materials produced since the initial casting and testing?
Jim's response:

That work is continuing. Chris Huskamp now works for Jabil, where he leads their additive manufacturing business. One of the main areas of focus is scandium-contained alloys ..

Jim's response to Scandium & future Scandium Producers 1/2021:
Question asked:
Jim-
"You are all probably aware of Rio Tinto’s entry into the Scandium market via the elementnorth21 venture. Could you offer an opinion in regards to this market competition in the Scandium market, and if a lower price point offering is a concern for Niocorp moving forward?"

Reply:
Rio Tinto's effort to more widely commercialized scandium products should be very much welcomed by all prospective scandium producers.In order for large prospective consumers of scandium, such as companies in the aerospace, vehicle transportation, and energy/battery industries, to move aggressively toward incorporating scandium at scale into their manufacturing operations, they will want to see multiple scandium suppliers serving the market. Ensuring diversity of supply for specialty materials like scandium is key for these companies, as it helps them manage supply chain risk.

We believe that multiple producers of scandium will create a rising tide of demand that will benefit all. After all, several independent analyses forecast latent demand for scandium in the several hundred tonnes / year range, if not higher.

Pricing for various scandium products is likely to vary significantly as these markets mature. Some scandium oxide and scandium master alloy products will be sold as commodity products. But other scandium products sold by producers are likely to be custom chemical formulations or alloys or fabricated scandium alloy products that are custom engineered for a specific application. Pricing for these types of value-added products is set between the materials producer and the customer and is often based on the value delivered to the customer of the custom product, rather than an advertised 'commodity' price for scandium.

Hope this is helpful.

Jim

Reply from Jim in regards to future investor presentations. Just wanted to share with board. 2/2021

"The short answer is yes! Our plans are to wage a continuing and aggressive investor outreach program in 2021, including participating in a number of virtual conferences and virtual "road shows" to investors around the world."

Jim

REE's- NOTE:******4/2021
"No Intention of updating the F.S. according to Jim!"
Question #1)
a) "IF" REE's are to be added into the NPV as Mark mentioned. Will another F.S. be needed, or can Niocorp continue progress on the overall project ( sinking of the mine shaft & engineering & design) while this is being worked out? (of course once funding is available)

Response from Jim Sims:
"#1) It is not our intent at this time to update the Project’s Feasibility Study because of the possibility of producing rare earth materials as a byproduct of our current planned operations. Such an update would be required if we wanted to adjust the overall economics of the Project (e.g., allowing for new calculations of the project’s Net Present Value (NPV) and other economic measures) in a manner that reflects the addition of rare earth products. However, taking this step would require a great deal of work and time (and expense), which we do not believe is needed at this time – especially for potential byproducts. That said, there may be other pathways that allow us to quantify estimated production volumes, OPEX, CAPEX, and revenue gain from producing rare earth products that do not involve a wholesale update to our existing FS."

b) What method of Separation does Niocorp intend to utilize to produce REE's & can this method be added "after" the original mine facility is built or will it require a total redesign? (Does this tie into the proprietary CO2 separation Scott & L3 are working on?)

Response to 2nd question:
"#2)Analysis of processing pathways for any prospective production of rare earth products is ongoing. It is likely that we would utilize separation extraction (SX) processes to separate and purify target rare earth elements. This is the process that we already plan to use in order to produce scandium, so it would be relatively straightforward to add additional SX capacity to the existing plant design. SX also is a technology with which our team is highly familiar, as our engineers have previously designed, built, and/or operated much larger SX production operations for rare earth production than would be needed in the Elk Creek Project. However, final decisions on whether and how to produce rare earth materials have not yet been made."

All the best,

Jim

(Makes me think of the CO2 collaboration with L3?)


NIOCORP'S RARE EARTH ELEMENTS - Let's take a look!/b]
Listen to Scott Honan as he specifically mentions Nd, Pr, Dy, & Tb in the Elk Creek resource & possibilities:
NioCorp's Scott Honan Talk Nebraska Rare Earths
https://www.youtube.com/watch?v=gDzLhRfjxTg

Review the levels of all 14 REE types present in the Elk Creek Resource:
NioCorp To Review Potential of Adding Rare Earths to Its Currently Planned Critical Minerals Product Offering
https://www.niocorp.com/niocorp-to-review-potential-of-adding-rare-earths-to-its-currently-planned-critical-minerals-product-offering/

Niocorp is utilizing the SX separation method, but is also conducting testing on a proprietary supercritical CO2 method with L3. Again this is an excellent article. You can compare Niocorp's REE PPM to world averages as well as get a good idea of the entire process.
Rare Earth Elements: Overview of Mining, Mineralogy, Uses,
Sustainability and Environmental Impact
https://www.mdpi.com/2079-9276/3/4/614

Where would Niocorp's TREO resource rank?
Global Rare Earth Comparison Chart:
https://1wcm0741r5ad1d1r7j17fvxq-wpengine.netdna-ssl.com/wp-content/uploads/2020/05/A-grade-comparison-of-global-rare-earth-projects.jpg

Niocorp averages @1.7% - 2% TREO's Placing the (Elk Creek Mine) roughly in the "middle of the pack" in reference to the chart above. Niocorp will produce Niobiun, Scandium & Titanium & if deemed viable REE's. Research from USGS & others have shown the Elk Creek mine resource may indeed be part of a much larger system.

Nebraska Permits issued to date:
Elk Creek Resources; use NDEQ facility #97622
https://ecmp.nebraska.gov/publicaccess/viewer.aspx?MyQueryID=340
"Looks like the runway is clear for take-off...!?"


RECENT EVENTS JUNE 2021
REPORT: 100-Day Reviews under Executive Order 14017 June 2021
https://www.whitehouse.gov/wp-content/uploads/2021/06/100-day-supply-chain-review-report.pdf
Fact Sheet
https://media.defense.gov/2021/Jun/08/2002737124/-1/-1/0/DOD-FACT-SHEET-CRITICAL-MATERIALS-SUPPLY-CHAIN-2021.06.07.PDF/DOD-FACT-SHEET-CRITICAL-MATERIALS-SUPPLY-CHAIN-2021.06.07.PDF

DOD to push domestic sourcing of critical minerals
https://insidedefense.com/insider/dod-push-domestic-sourcing-critical-minerals

The White House is directing the Defense Department to use more incentives to support U.S. companies accessing critical minerals in the hopes of limiting exposure to Chinese sources.
The directive is part of the Biden administration's national supply chain review, which recently hit a 100-day milestone.
The Pentagon, according to a White House fact sheet, will "deploy" Defense Production Act Title III incentives, including "grants, loans, loan guarantees, and offtake agreements -- to support sustainably produced strategic and critical materials, including scaling proven research and development (R&D) concepts and emerging technologies from other programs such as the Small Business Innovation Research awardees."
Along with critical minerals, the White House has identified semiconductors, large-capacity batteries and pharmaceuticals as key supply chain vulnerabilities.

Remember Jim Sim's response to my question of the possibility of U.S. grants & loan guarantees ....

His reply:
"Possibly,yes."
Jim

As Scott Honan's role as COO becomes more prominent as the project progresses....
Scott Honan's interview key take away - Omaha KETV Channel 7 News Airs 2-Part Feature on Elk Creek Critical Minerals Project

https://www.niocorp.com/omaha-ketv-channel-7-news-airs-2-part-feature-on-elk-creek-critical-minerals-project/

While NioCorp executives say they have secured approval for major permits on the project, there’s still the matter of raising the money to start the work. The company estimates $1 billion of capital expenses to get the mine operational. It would process the niobium, scandium, titanium and possibly rare earth metals on-site into finished products and then ship them to buyers.

Honan estimates 1,000 jobs on the site during peak construction, which would last about three years. The lowest-paid worker on the site would earn at least $20 an hour, with many making substantially more, he said. More than 400 jobs would remain after construction to operate the mine.

Honan is hopeful now that the company purchased the land, it can raise a substantial amount of what it needs to start the work by the end of the year.

NioCorp Initiates High Pressure Grinding Roll Testing of its Elk Creek Ore (June 9, 2021)
https://www.niocorp.com/niocorp-initiates-high-pressure-grinding-roll-testing-of-its-elk-creek-ore/ ("Tweaking the Flow/P&ID's" to increase production with the latest equipment if proven viable...)

Some completed & Future News & Catalysts:
a)NIOCORP now "Owns" the land mine is located upon. (Check that off the list!)
b) Pursue detailed engineering (Cementation has got to be close to finishing cost estimates could be a news release soon! BM did mention they should like to start core drilling asap.) It is going to take @6-8 months to complete the engineering so surveying, land clearing mobilization & the following may start soon???
c) Permitting (more smaller permits needed...NE & a few local folks have got a good handle on this. Additional state & local permits may be in the offing?)
d) Sounds like Electric power, Gas & water supply will be on the menu as they along with critical lead time components will take the most time during construction & will be needed to conform to schedule)
e) "Subsequent tranches of Financing/funding or partner/s "....(Exciting times! many possible ways to get over the finish line...Private/U.S. govt./Combo/Spac/German loan guarantee/other???)

GO Team Niocorp! 2021!!

All IMHO & do your own DD... form your own conclusions...

Chico