November 3, 2011 Niocan Inc. announced the refiling of its report on the mineral resources at its niobium property located in the Ste-Sophie range of Oka as per National Instrument 43-101 (“NI 43-101”) and the CIM mineral resources classifications.
March 31, 2010 Niocan Inc. announced updates of the capital and operating costs for Oka niobium located in Quebec, Canada. A recent engineering and financial review of the capex/opex was based on the same parameters as per the original project design of an annual production of 4,370 tonnes of ferroniobium equivalent to 6,263,600 pounds of contained niobium for a mine life of 17 years. The economics of the project at US$16.77 per lbs ferroniobium would yield after taxes IRR of 23%.
