NioCorp Developments (NB.TO) has filed a short form preliminary prospectus to raise up to US$400M in a wide range of potential securities. Surprisingly, the company hasn’t announced this yet in a press release (nor on the website, nor on SEDAR, even though the prospectus was filed on Thursday during business hours), but will undoubtedly do so within the next few days.
Filing this prospectus could mean the company will immediately move forward with securing all necessary funding to construct its Elk Creek niobium project in Nebraska. A feasibility study is underway and should be completed in 2017. NicoCorp is one of Elysee Development (ELC.V) largest positions, and any fluctuation in NioCorp’s share price will have an impact on Elysee’s Net Asset Value.
The author has no position in NioCorp Developments, but has a long position in Elysee Development. Elysee also is a sponsor of the website. Please read the disclaimer