NioCorp Developments (NB.TO) announced today that CEO Mark Smith will present on the company’s Elk Creek Critical Minerals Project at the 2022 International Scandium Symposium which takes place on October 20th 2022 in Las Vegas.
Demand for scandium is rising due to growing usage in Solid Oxide Fuel Cells (SOFCs) which in itself is rising due to the demand for clean energy, and the increasing demand in the aerospace and automotive industries. The first International Scandium Symposium will focus on market outlook and highlight potential new sources of supply. NioCorp, along with Rio Tinto and other prospective scandium producers will be attending and presenting. More information on the conference and the agenda can be seen here.
Mark Smith’s presentation begins at 1 pm EST and will be titled, “”Nebraska Scandium: American-Made and Climate-Smart“. The presentation will not be broadcast live but is expected to be made available for video replay.
NioCorp has executed a commercial sales agreement with Traxys for up to 120 tonnes of scandium trioxide over the first 10 years of operation of NioCorp’s planned production, subject to the receipt of necessary project financing and commencement of operations at the Project.
The NioCorp-Traxy scandium contract is thought to be the largest single offtake agreement for scandium ever executed.
The company is currently operating a demonstration plant in Quebec, Canada to test the technical feasibility of a simplified process for producing niobium, scandium, and titanium, as well as extracting and separating high-purity Neodymium-Praseodymium Oxide, Dysprosium Oxide, and Terbium Oxide.
NioCorp has been riding a momentum of strong press releases. Just recently, NioCorp announced it will merge with Nasdaq listed SPAC GXII in order to be traded on the US Nasdaq index sometime in 2023. To further drive US investor eyes to NioCorp and its Elk Creek Project, CEO Mark Smith was recently on Fox Business News’ “The Claman Countdown” where he spoke about the US’ need for a domestic supply of rare earth minerals.
At time of writing in the early hours of trading, NioCorp stock is down 2% with over 82,000 shares traded. In terms of the technicals, NioCorp stock is due to retest the broken channel pattern sometime in the near future. In technical analysis, a retest allows for the opportunity for buyers who missed out on the initial spike to enter into a position. I expect there to be buyers around the $1.20 zone.
