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NioCorp Developments (TSX:NB) filed a second preliminary economic assessment (PEA) for its Elk Creek project on September 4. A previous PEA for the project was announced in April.
NioCorp Developments (TSX:NB) filed a second preliminary economic assessment (PEA) for its Elk Creek project on September 4. A previous PEA for the project was announced in April.
As quoted in the press release:
On Friday, September 4, 2015 NioCorp filed a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), by be SRK Consulting (U.S.), Inc. and Roche Ltd., Consulting Group. The results of the PEA2 were previously announced by the Company on August 4, 2015, and included the following:
- Pre-tax NPV of US$3.07 billion.
- Pre-tax IRR of 31.7%.
- After-tax NPV of US$2.30 billion.
- After-tax IRR of 27.6%.
- Average pre-tax cash flow of US$438 million
- An increase in annualized Scandium Trioxide production to 97 tonnes.
- Annualized Ferroniobium production of 7,490 tonnes.
- Annualized Titanium Dioxide production of 23,960 tonnes.
NioCorp chairman, Mark Smith, said:
The PEA2 reflects significantly improved economics for the Elk Creek Project when compared to the initial PEA announced in April of this year. With the increased economic valuation of this project, we are now focusing our efforts on finalizing the Feasibility Study and securing additional off-take agreements with customers in the Niobium, Titanium, and Scandium markets. These areas of focus will greatly assist our continuing discussions with the financial community in our effort to bring this valuable project into production.
Click here for the full press release.