Past few days have brought a lot of good news for NIOCORP DEVELOPMENTS (OTCMKTS:NIOBF), the best among them is the approval of graduation to TSX. As per the reports, Niocorp received green light to list its common stock shares on TSX (Toronto Stock Exchange). The trading has already initiated.
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As per the rules and regulations of Toronto Stock Exchange, it started trading from March 9, 2015. After the initial formalities, the company was assigned a ticker ‘NB,’ under which, all of its common stock shares will trade. As per the reports, it was already listed on TSX Venture Exchange before Toronto Stock Exchange accepted its application to trade. In order to ensure that it could continue enjoying listing on Toronto Stock Exchange, Niocorp had to delist itself from TSX Venture Exchange before the commencement date of trading.
The application to trade on TSX is part of company’s expansion plans. As per the reports, the senior management of the company plans to enhance its reach in the near future. It believes that listing on TSX will give it access to a wide range of institutional and international investors. This way, Niocorp will be able to attract huge capital pools, which is otherwise difficult to execute.
It has been working on Elk Creek project for a long time now, but the dearth of funds has not let it take things forward freely. Once the capital starts flowing in, Niocorp will be able to work on this project and move ahead in terms of long-term development. Year 2014 was comparatively better for the company as compared to the previous many. It was ranked as the first mining issuer in the TSX Venture 50 for the first time.
Mark Smith, Executive Chairman of the company, stated that Niocorp had a wonderful 2014, and it would continue unearthing new paths to develop and grow in the coming days.