NioCorp Signs Agreement for Natural Gas Transport to its Elk Creek Superalloy Materials Project
CENTENNIAL, Colo., Nov. 09, 2017 (GLOBE NEWSWIRE) -- NioCorp Developments Ltd. (“NioCorp” or the "Company”) (TSX:NB) (OTCQX:NIOBF) (FSE:BR3) is pleased to announce that it has signed an agreement with Rockies Express Pipeline LLC (“Rockies Express”) to construct and operate a 27.8-mile natural gas pipeline that will supply the Company’s planned Elk Creek Superalloy Facility (“Elk Creek Facility”). Securing natural gas transport to the Elk Creek Facility is an important milestone in the Company’s efforts to prepare the Elk Creek Facility project for the onset of construction once project financing, permitting, and other requirements are met.
Under the agreement, following the receipt of financing for the project, Rockies Express has agreed to design, construct, and operate a natural gas lateral line that will extend from the Rockies Express main line in Marshall County, Kansas to the Elk Creek Facility and will deliver at least 27,500 MMBTU (Million British Thermal Units) of natural gas per day when the Elk Creek Facility is fully operational. The value of the contract, to be paid over a period of 11 years, is approximately $63 million. NioCorp expects to contract separately for the purchase of the natural gas to be transported by Rockies Express.
Rockies Express is responsible for obtaining all applicable approvals, including necessary government permits required prior to construction and operation of the underground pipeline.
“Arranging for long-term delivery of natural gas to the Elk Creek facility is an important milestone to have reached, and we are pleased to be working with the Rockies Express team on this important aspect of our project,” said Mark A. Smith, Executive Chair and CEO of NioCorp.
“Rockies Express is very pleased to have been selected as the natural gas supply link for NioCorp’s Elk Creek Facility, an important market outlet for natural gas supply sourced from the Rockies. We look forward to working with the NioCorp team and are excited to partner with them to contribute to the economic development in the State of Nebraska,” said Crystal Heter, President of Rockies Express.
Rockies Express Pipeline is one of the United States’ largest pipelines and is the nation’s northernmost bi-directional natural gas header system. The system consists of 1,712-miles of 36-inch and 42-inch diameter natural gas transmission pipeline that extends from the Rocky Mountains to Clarington, Ohio. Rockies Express taps major supply basins in the Rocky Mountain and Appalachian regions and serves energy markets across a vast segment of North America. To learn more, please visit www.tallgrassenergylp.com
On Behalf of the Board of Directors,
"Mark Smith”
Mark Smith
Executive Chairman, CEO, and Director
Source: NioCorp Developments Ltd.
@NioCorp $NB $NIOBF $BR3 #Niobium #Scandium #ElkCreek
For More Information: Contact Jim Sims, VP of External Affairs, NioCorp Developments Ltd., 303-503-6203, jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor and medical implants.
Cautionary Note Regarding Forward-Looking Statements
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this document. Certain statements contained in this document may constitute forward-looking statements, including but not limited to the future supply, and amount, of natural gas to the project through the pipeline, the onset of construction once project financing, permitting, and other requirements are met, the terms of the agreement with Rockies Express, whether Rockies Express will be able to obtain required approvals to construct the lateral pipeline and whether that pipeline will be completed on time, on budget or at all, and expectations as to contracting separately for the purchase of the natural gas to be transported by Rockies Express. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include risks related to the Company's ability to operate as a going concern; risks related to the Company's requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes in economic valuations of the Project, such as Net Present Value calculations, changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business and the risks set forth in the Company’s filings with the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
