NioCorp Selects New External Auditor
June 29, 2015 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3), today announced that Davidson & Company LLP Chartered Accountants of Vancouver, British Columbia, who have served as NioCorp’s external auditors, will be succeeded by BDO USA, LLP effective June 24, 2015.
“As NioCorp continues to grow, and our needs and requirements change, it makes sense to partner with a United States based industry leader who also brings the mining expertise we’ve grown accustomed to over the years with Davidson & Company,” said Mark A. Smith, President and Executive Chairman of NioCorp. “We believe the skills and knowledge BDO brings to the table are consistent with those necessary to propel this company and the Elk Creek Niobium Project to the next stage and beyond.”
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There were no reservations or modified opinions in Davidson & Company’s reports for the two most recently-completed financial years, or for any subsequent period preceding the date of Davidson & Company’s resignation, for which an audit report was issued. The change in NioCorp’s auditors has been approved by the Company’s Board of Directors and Audit Committee.
NioCorp is a mineral development company pursuing high-quality natural resources. The Company’s main focus is the Elk Creek Niobium Project, which is an advanced niobium exploration initiative located in southeast Nebraska. This resource is used to produce High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications.
Special note about forward-looking statements:
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release may constitute forward-looking statements. Such forward-looking statements are based upon NioCorp’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Readers are advised that the Elk Creek PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the preliminary economic assessment will be realized. Mineral Resources are not Mineral Reserves because they do not have demonstrated economic viability. There is no guarantee that Inferred Mineral Resources will be converted to the Measured and Indicated Mineral Resource categories and, therefore, there is no guarantee that the project economics described herein will be achieved.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>