Thursday, October 14, 2021 12:12 PM | Kyle Depontes
Niobay Metals (NBYCF) Stock Skyrockets After Announcing First Results from Niobium Metallurgical Project
What is going on with NBYCF?
Niobay Metals Inc. (NBYCF) stock surged today after the company provided the first results from its metallurgical testing program related to the production of battery-grade Niobium from its James Bay Niobium Project.
The results demonstrated a 3% improvement from the company’s Preliminary Economic Assessment recovery, reaching up to 81.3% while producing a Niobium concentrate of 61.7%.
Shares of NBYCF increased 14% to $0.34 as of Thursday at 8:57am.
What does this mean for Niobay Metals?
The program is designed to achieve battery grade Niobium oxide to be used as anode material in fast charging lithium battery technology.
The promising results of the testing, including the higher concentration, recovery, and purity of the James Bay Project, provides the best potential low-cost Niobium project in North America.
"We are very excited by the 3% metal recovery improvement over the PEA result. These results reinforce the strong economic potential of the James Bay Niobium Project and separate it as the best alternative low-cost source of battery-grade Niobium oxide outside China," commented Jean-Sebastien David, Niobay President and CEO.
"We are confident that the ongoing testing will future advance the production of a green metal that will support global decarbonization".
The second phase of the ongoing metallurgical program will focus on the production of niobium battery grade and consist of a hydrometallurgical treatment to purify the concentrate to +99% Nb2O5 (battery-grade Niobium oxide). Results are expected in the upcoming months.
Short-Term Technical Rank - 34
NBYCF has a Short-Term Technical Rank of 34. Find out what this means to you and get the rest of the rankings on NBYCF!
See Full NBYCF Stock Report
Niobay Metals Inc is engaged in the acquisition, exploration, and evaluation of mineral properties. Its project includes the James Bay Niobium Project located in northern Ontario, Canada. Its other projects include the Crevier niobium and tantalum project. The company has one operating segment, being Mining exploration and evaluation.
