"It has been eight years since NioCorp took an interest in mineral deposits buried under farmland near Elk Creek in Johnson County. CEO Mark Smith has been traveling the world looking for short-term and long-term investors. Earlier this week he announced $2.5 million in new investments. Those funds are “for the purposes of continuing all the permitting and some of the technical studies that we're doing as well as overhead costs for the company."
Smith says “It's just a bridge until we get the larger financing in,” including at least $25 million for detailed engineering studies.
In short supply on international markets, scandium has attracted a new level of interest in the project.
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