On April 4th, 2014 I highlighted to my premium subscribers an obscure junior niobium miner which many ignored and was trading at approximately $.26. Niocorp (NB.V or NIOBF) owns a high grade niobium asset in Nebraska and has been hitting the highest grade results to date. See my previous reports on Niocorp from April and June.
The stock is on the verge of its next major breakout at $.80 as it hits the highest grade results to date. Niocorp announced this past week niobium assays in excess of 3% this past week. See news release by clicking here…
This confirms that management is delivering impressive results on this Phase 1 program and is further proving their hypothesis correct that Elk Creek Niobium asset is world class.
Phase 2 drilling has already commenced and six holes are planned to be drilled. I expect these high grade results along with the metallurgical progress could attract a financial partner who wants to be involved with this world class high grade niobium asset which is one of a kind in the United States.
Last month Niocorp retained Mackie Capital to negotiate potential strategic partnerships. I look forward to hear that the pilot plant work has begun and that a potential funding partner has entered into an agreement with Niocorp.
One must remember this is the only niobium deposit under development in the U.S. and the highest grade undeveloped niobium deposit in North America. I expect as investors see the high grade results that Niocorp should breakout above $.80 is imminent. A $1.15 technical target could be reached.
Niocorp CEO Mark Smith believes he can bring Niocorp’s Elk Creek Mine into production and has put his own $2 million into the company as an investment. He has built mines before. Niocorp is now focussed on producing a feasibility study which I think could be very economic with the recent high grade results.
See my recent interview with Niocorp CEO Mark Smith by clicking here.
Disclosure: I own Niocorp and the company is a website sponsor.