Today we feature NioCorp Developments Ltd (TSXV: NB), a junior rare earth minerals mining company, as the top momentum gainer since the stock climbed more than 8% touching its 52-week highs during the last two consecutive trading days with a significant increase in shares exchanging hands. Yesterday, NB was among the top performers in the Canadian diversified mining sector after soaring 20% and closing at its 52-week high of C$0.78 while recording significant volume of 2.22 million shares. During the past 5-trading sessions, the stock jumped 52.9% with daily average trading volumes of 909,765 shares. The share price of NB has been on an uptrend during the past one month, soaring over 189% with daily average trading volumes of 503,332 shares. So far this year, the stock has provided returns of over 420%.
The stock has been building momentum after NB reported its plans to start drilling soon near Elk Creek, a village in southeast Nebraska, U.S., where it hopes to mine niobium, a metal used to make steel stronger and lighter. It is speculated that its Elk Creek Niobium project could be worth billions. The company has raised more than $5.5 million to move forward with its drilling program. Based on its prior drilling on the site in 2011, NB estimates the site holds more than 100 tons of the metal making it the largest undeveloped niobium deposit in North America and is worth more than $25 billion, based on current prices for niobium.
Company Description:
NioCorp Developments Ltd (TSXV: NB) is developing the Elk Creek Carbonatite, a primary niobium deposit in the United States.
1-Year Stock Chart:
Source: Bloomberg
