On Tuesday, NioCorp filed the technical report on SEDAR and shares of the company lost another 4 cents to close at $0.77. Trading volumes were a little over twice the daily average for the company.Certainly, the market hasn't reacted well to the results of the PEA. At least one market watcher expressed his disappointment on Twitter:
Wheels have fallen off on #NioCorp #shortstocks #sell #ElkCreek #Niobium http://t.co/76Gusky8qF $NB $NIOBF— Schtev (@schtev69) May 21, 2015
And Mining Journal (subscription) titled its piece on the news "Niocorp's Elk Creek PEA disappoints."Taking a look at the numbers, initial capital expenditures for Elk Creek are set at approximately $919 million for an after-tax net present value (NPV) of $606 million at an eight percent discount rate. Over its 36 year mine life, Elk Creek would produce 7,500 tonnes of ferroniobium annually. NioCorp's April 13 press release also stated that Elk Creek would put out 23,000 tonnes of titanium dioxide and 12.8 tonnes of scandium trioxide per year.