IAMGOLD's Niobec Mine worth 1 Billion
Quantums's Elk Creek Niobium deposit is already much larger and has a much higher percentage grade of Niobium than Niobec has. The Elk Creek deposit should grow both in size and percentage Niobium grade from the last three holes they drilled. Quantum has a market cap of around 25 million dollars. Niobec with a lower percentage grade has a market cap of $1 BILLION which is 40 X Quantum's.
IAMGOLD CEO Steve Letwin tells BNN the company could pocket another $1 billion by selling an ownership stake in a Niobium mine it owns in Quebec.
“This mine had been sitting there for 30 years, without much attention commercially…we think we can triple the production of this mine in the next three to four years,” he says.
“It’s a tremendous asset for the company that hasn’t been realized.”
As for how the gold miner plans to monetize the asset, Letwin says it’s already looking for potential buyers.
“We’re out there looking to sell 10 to 20 percent….we’ve got about 16 interested parties,” he says.
Here is the link to the video
https://www.bnn.ca/News/2011/5/12/Rare-earths-make-Iamgolds-CEO-smile.aspx