Niocorp Developments Ltd (NB)

[Landmark8211111]

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.