Nio-Metals Holdings LLC, the largest shareholder in Niocan Inc (NIO.TO), has proposed to buy out the company, even as Augyva Mining Resources Inc (AUV.V) said it intends to make an offer to acquire the junior rare earth mineral explorer. Niocan Shares were trading up 55 percent at a year-high of $0.87 on the Toronto Stock Exchange. Niocan, which owns and develops niobium property in Oka, Quebec, said it has formed a special committee of independent directors to evaluate Nio-Metals' proposal.
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