Corporate Update, All pieces Coming Together Well! In a Corporate Update, today, NioBay Metals provided the following insight on developments:
- Following the completion of the drill program (see press releases dated April 8, 2020 and May 21, 2020), Roscoe Postle Associates initiated work related to the Project’s Mineral Resource Estimate update. The update is progressing as expected and is expected to be published next month.
- SGS Lakefield (“SGS”) completed the gravity tests on the composite sample. The results showed a mass pull of 40% to 43% using spirals with a niobium loss of only 4%. These initial results will have a positive impact on the Project’s economics by reducing the estimated capital and operating costs. The flotation tests are now underway and the final results for all of SGS’s testing will be published in Q3 2020.
- G Mining Services (“G Mining”) began working on the Project’s Preliminary Economic Assessment (“PEA”) in May 2020. The Company has requested that G Mining review three mining scenarios (underground mine with ramp access, open pit mine and a combination of open pit and underground). Assessing the three scenarios will provide the Company with information to balance the economic benefit, the costs, jobs and community benefits along with the potential environmental and cultural impacts. |
John Kaiser of Kaiser Research's C$1.25 to C$2.17 per share near-term target may well get there sooner than later.
Well done everyone. I like that management is invested in the Company and the CEO is not salary motivated, he understands the market intimently (having worked sales for Niobec) and knows this will have a big payout for all as this goes to plan.