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Mark Smith's Niocorp Developments Ltd. (NB) rose four cents to $4.04 on 5,000 shares. The company is nagging the Biden administration to allow a 10-per-cent tax credit covering mineral extraction and processing in the United States. Essentially, Niocorp is seeking financial assistance to push its lagging Elk Creek critical metals project in Nebraska forward.
Elk Creek was initially a niobium project, but the company added titanium, later scandium and most recently rare earth elements to the roster of potential products. A now two-year-old reserve lists 36.7 million tonnes grading 0.81 per cent niobium oxide, 2.29 per cent titanium oxide and 70.2 grams of scandium per tonne. That is but a sliver of the nearly 189 million tonnes indicated and 108 million tonnes inferred, all with lesser grades but with enough ore to sustain the proposed mine for centuries. (The 2022 feasibility study proposed a $1.1-billion (U.S.) mine running at about 2,700 tonnes per day for nearly 40 years.)
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