The NioCorp Developments Ltd could be in sharp focus today among investors after it soared by as much as 17% yesterday amidst heavy action. It is true that there was no news about the company yesterday but in light of the gains made by the NioCorp Developments (OTCMKTS:NIOBF) stock, investors could do well to track the stock today.
It was back on June 9 that the company announced that it was going to deploy its High-Pressure Grinding Rolls (HPGR) technology when it starts work on the testing of its Elk Creek Project ore. It is a significant development for NioCorp and it might have been a factor in the latest rally in the stock.
However, another important thing to remember is that the company’s HPGR technology is set to be deployed for the process. It has been claimed that HPGR technology not only emits low amounts of carbon but is also energy efficient when it comes to the reduction of the size of an ore. Reduction of the size of an ore is essential when it comes to discovering rare earth materials. While there has been no recent news about the company, investors could consider keeping a close eye on any new developments.
Market Reaction:
On Monday, NIOBF stock gained 17.35% to $1.17 with more than 872k shares, compared to its average volume of 227k shares. The stock has moved within a range of $1.0000 – 1.2300 after opening the trade at $1 Over the past 52-week, the stock has been trading within a range of $0.5400 – 1.6500.
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