Niocorp Developments Ltd (NB)

[LCP77]

This board is just a bunch prayers for the holy grail of government support of this shitty uneconomic deposit. Based on nothing but bullshit inputs. While the whole mgmt team are taking as much as they can for as long as they can by bullshitting belgians.

[The_Gman]

Jobs: The amount of EXIM financing made available for individual projects will be scaled based on the number of U.S. jobs supported, both during construction and over the life of EXIM’s financing.

Each job-year (e.g., one job over five years is five job-years) allows for up to $205,336 in financing.

https://www.exim.gov/about/special-initiatives/make-more-in-america-initiative

That number appears to have been increased $16,094 since 2022 when MMIA policy started.

Jobs Standard
Make More in America financing will be scaled according to the number of US jobs supported during construction and over the life of the project. Every one job per year (i.e., 50 jobs per year for five years would be counted as 250 jobs) allows for up to US$189,242 in financing.

https://www.squirepattonboggs.com/-/media/files/insights/publications/2022/05/exim-approves-make-more-in-america-initiative-supporting-domestic-manufacturing-and-infrastructure-projects/exim-approves-make-more-in-america-initiative.pdf

If you divide $800,000,000 by $189,242, you get 423 (rounded). 423 times the difference of $16,094 is about $6.8 million additional? Seems low for inflation and maybe low for the total number of jobs? Not sure how that all works. Does anyone recall the post where it said a company was authorized a higher award because of inflation?

https://www.niocorp.com/1200-construction-workers-expected-hired-build-niocorps-elk-creek-nebraska-superalloy-facility-peak-construction-period/

[SpecialK2020]

Can't help but feel that someone, or something, is trying to artificially keep the price down...

[PutzMueler]

That’s not for me to know or have concern over, it changed for him so he came back.

Welcome back I say.

*********
Perhaps I seem nicer.
Are you nicer?

He seems nicer.

***************
The stress of IIROC/CIRO is gone haha. I’m cured.

Shrug

[USAlonewolf]

Why did it change do ya suppose? Him not being here I say

[PutzMueler]

Things changed and he returned.

Welcome back AlwaysOptimistic.

**********
I was getting tired of the spit balls.
And my newest signature.
**********

[th6565]

You are so smart???

[PutzMueler]

Yes, Jobs and Exports are the basis for their letter of interest, and he $800,000,000 loan amount.
The calculation on how they determine the loan amount, is posted on their website.

If i recall correctly, we could garner a larger sum than what was in the Letter of Interest.(LI)

[bigal9999]

Someone can correct me if I'm wrong (which is quite possible) but when EXIM first came into the picture I think it was stated that they have a formula (number of jobs created, etc. I don't remember the details) and EXIM determined that $800M (roughly) was the max they could lend to NB. Could inflation figure into that number? I would think so. Does anybody else remember this? I don't have time to look it up right now.

Big Al

[stark12]

Yeah, I remember that but I am looking for confirmation on EXIM website. Those terms would be favorable.

[stark12]

No disrespect. I thought it had previously been posted but I didn't recall who or when.

[MasstrichtMan]

You lasted 3 trading days....

If things change on this board, I am happy to return but if the tone remains acrimonious, I wish everyone the best in their investment and personal lives and am confident knowing that everyone will be just fine and continue on.

With gratitude, AO

.

[Landmark8211111]

(NioCorp Edges Closer to $800M EXIM Financing) …

Fingers’xd
LM

[PutzMueler]

Ohhhhhhh. That’s too easy lol. EOM

[monocle]

$500k worth of shares transacted per day not 500k shares.

[PutzMueler]

I wish I knew how NioCorp plans to attain and maintain 500,000 volume per day with outstanding shares of 35 million. When we couldn’t even get that much volume (or rarely), when we had 300+ million shares outstanding.

Something huge has to happen in the next two weeks. JMO

[Prudent Capitalist]

Thanks Chico! Very informative, and all very positive.

[chico237]

Sharing recent responses to relevant questions from Niocorp (May 7, 2024) Given the EXIM term sheet material news plus recent Magnet recycling/manufacturing possibilities... sharing the following.

Jim could you offer comment on the following questions:

1) Should Niocorp's Process for the Motor/Magnet (Grinding) to REE Recycling (Utilizing Niocorp's Proprietary New Process) be proven to work at scale.
a) Does Niocorp intend to expand the footprint of the Elk Creek Mining & Processing Facilities at (ELK CREEK - “In House”), at a future date moving forward once project financing has been established?
b) Or Will/would Niocorp seek a partnership (with a yet to be named entity/s) to establish a future “Circular Recycling & Economic Magnetic Rare Earth Supply Stream” in a satellite venue in Nebraska or other location T.B.D.?
Response:

As to both questions above, this is still to be determined.

2) Should the ongoing Planned Pilot & Demonstration Plant at Scale prove out the process.
a) Would the Economics (CAPEX/OPEX etc.) from aforementioned Processes need to be incorporated into the "Early as possible 2024 F.S."?
Response:

****No.******.

Or... Could they be added into the project's economics at a later date without affecting current ongoing Partnerships & Financing negotiations?
Response:

*****Yes.******

3) Are several Entities such as (DoD, U.S. & Allied Governments & Private Industries)
a) Interested in establishing a "Circular Recycling Supply Stream" with the Elk Creek's mine REE's, Scandium or other Critical Minerals & Byproducts? Comment if possible...
Response:

Yes.

b) & ARE SEVERAL GOVT. & PRIVATE ENTITIES "STILL" Interested securing Off-take Agreements for Niocorp's remaining Critical Minerals (Scandium, Titanium, Niobium -(last remaining 25% of production), Rare Earths, CaCO3, MgCO3 & some cool Iron stuff) - Should Financing be secured??
Response:

Yes.

😜 Had to ask! Until we see some "New Offtake Agreements!"

SEE https://www.exim.gov/policies/exim-bank-and-environment/pending-transactions
PENDING ENVIRONMENTAL CATEGORY A PROJECTS
Projects classified by EXIM as Environmental Category A transactions require an Environmental and Social Impact Assessment (ESIA), which must be made available to the public for at least 30 days prior to EXIM consideration for final approval.
EXIM has received applications for the following Environmental Category A projects.
NioCorp Elk Creek Niobium/Rare Earth Elements Mine (MMIA), Reference #AP756637XX
Further NEPA action required? - "PENDING"
Estimated Annual CO2 Production of Project (tonnes/yr.) -"T.B.D."
Posted/Established: "11/8/2023"
Date ESIA Available - "Not available yet."

ABOUT EXIM MAKE MORE IN AMERICA INITIATIVE
https://www.exim.gov/about/special-initiatives/make-more-in-america-initiative
SEE EXIM: OUR APPROACH
https://www.exim.gov/solutions/project-and-structured-finance/our-approach-to-project-finance

UNDER III. Technical
III. Technical
1) Project technology must be proven and reliable, and licensing arrangements must be contractually secured for a period extending beyond the term of the EXIM Bank financing.
2) A technical feasibility study or sufficient detailed engineering information needs to be provided to demonstrate technical feasibility of the project.
Information Required
a) Technical description and a process flow diagram for each project facility.
b) Detailed estimate of operating costs.
c) Arrangement for supply of raw materials and utilities.
d) Draft turnkey construction contract and description of sources of possible cost increases and delays during construction, including detailed description of liquidated damage provisions and performance bond requirements.
e) Project implementation schedule, showing target dates for achieving essential project milestones.
f) A site-specific environmental assessment, highlighting concerns, requirements and solutions. These documents should demonstrate compliance with EXIM g) Bank's environmental guidelines. All applicants must submit a Preliminary Environmental Assessment report conducted by a third-party expert prior to an application for final commitment.

4) Could you offer comment as to the progress/status of Niocorp's current ESIA Enviromental Impact Statement currently under EXIM revue? Comment if possible...
Response:

The process is ongoing.

FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
Waiting for that "Early as possible 2024 Feasibility Study" & some darn cool anticipated material news releases in 2024 with many!
FULL STEAM AHEAD NIOCORP!

Chico

[Prudent Capitalist]

Richard: FWIW - At first I did not like Schwab, but now after 6+ months I am used to it and would never want to give up TDA's old thinkorswim platform that Schwab kept and now provides to all of its longtime accountholders.

[jeunke22]

Mark Smith indicated a 10 year loan at a 10 year treasury interest rate ( 10 year fixed rate 4,25% , todays price 4,50%) for the loan amount. Hope I looked at the correct rate. That would be awesome, because commercial bank loans would be above two digits. With financing the current discount rate in the feasibility study ( was it 8%?) can be changed and would boost the bottom line as well imo.

[dutchfree]

Thanks, you could nailed it!

[Richard Thomas]

This is off topic, sorry. I used td amertrade and I'm not liking shwab so anybody got a recommendation. I'm looking at IBKR.
Thanks for any help,

[PutzMueler]

LoL. You could’ve saved yourself some time by reading my post lol

^5 take me of ignore. LOL

[The_Gman]

I don't think so, but I thought I read somewhere in the volumes of information that loan details are made public 30 days after approval but now I can't find it and I'm not finding any examples. Maybe it was just a summary of some sort. Could be wrong. I'll keep looking.

[The_Gman]

Packwell, the 3rd MMIA recipient of EXIM money got approved on April 18 for $51 million. Interestingly, if you look at the Pending Transactions page, there were no updates made to NEPA (Pending), CO2 (TBD) and ESIA (Not Yet available) statuses. I guess watch the Board agenda.

https://www.exim.gov/news/export-import-bank-united-states-board-directors-approves-third-deal-under-make-more-america

[stark12]

Trying to answer this question but this is as far as I've gotten:

A Letter of Interest (LI) is a non-binding indication of EXIM’s general interest in a proposed transaction or project and provides indicative general financing terms that EXIM is prepared to consider based on a limited review of the transaction/project.

EXIM Preliminary Commitments (PCs) are non-binding preliminary offers of financing terms based on a credit evaluation and policy review, then approved by EXIM’s Board of Directors. PCs require more stringent due diligence standards than LIs, but less stringent standards for final commitments.

From this informative page: https://www.exim.gov/about/special-initiatives/ctep/critical-minerals

[stark12]

Do you think the details of the non-binding term sheet are publicly available?

[The_Gman]

Someone posted an example a while back on how EXIM upped the loan amount due to inflation and some other factors.

The more I look at this, the more it appears that many of these steps can be occurring simultaneously. The only hard timelines I'm seeing are the 25 day Federal Register posting that occurs after preliminary board approval, followed by the 10 day Congress notification. It even appears as though the External Notices step was probably the one that was just completed with the questionnaire.

We may be close to preliminary board action. The agenda is only posted up to May 9 (first May meeting) and that does not include NioCorp as it stands today. The board has met in the past in as little as a week and as often as 3x a month. Will be very interesting to see what the next agenda includes!

[Rader1977]

We still don't know the details of the term sheet, but that may come soon in NioCorp's next PR.

I wouldn't be surprised if the term sheet is for a loan that exceeds the $800 million that was originally requested.

Remember - EXIM has now conducted many months of due diligence on this project at this point, and a figure above $1 billion may be determined to be the necessary loan to finance the mine.

[Prudent Capitalist]

I am sure there are still some. I have never doubted that the mine will be funded and built. As for this most recent development, although it is not fully binding at this point, EXIM would not have issued this Preliminary Indicative Term Sheet if the process wasn't well on its way to final approval. It is no secret in Washington DC that our project has been targeted as strategically important for the US.

I wonder who’s still thinking that this mine will not be built……..

[The_Gman]

Update: Looking back at another transaction (AP089416XX), it looks like it hit the board agenda before it went out on the Federal Register so maybe we see that first, or the NEPA, CO2 ESIA status changes.

It's a little cloudy as to where we are exactly in the process but I think we might (maybe?) be nearing the end of Other Analysis? I do believe we are full steam ahead at this point, and I think it moves pretty deliberately from here. Unless they deviate from published procedures (which I think is highly unlikely), I'm guessing we have to start watching for an external notice of an "Application for Final Commitment for a Long-Term Loan or Financial Guarantee in Excess of $100 Million" in the Federal Register, and changes in the NEPA, CO2 and ESIA statuses on the Pending Transactions page. Haven't seen anything yet that would make a decision by the end of June impossible (as Mark conservatively hoped).

[dutchfree]

Tell me, what is your prediction? Next step?

[The_Gman]

LONG-TERM LOAN OR GUARANTEE APPLICATON
ATTACHMENT F: Project and Structured Finance

1. EXIM Project Finance
- Rapid Case Processing. With the help
of outside financial consultants, EXIM
will give a preliminary indication of
support, called a Preliminary Project
Letter (PPL), within 45 days from the
date evaluation begins by the outside
consultant. Should the project be
sufficiently developed, the sponsor may
proceed directly to a final commitment
from the PPL as determined by the
Project Finance Division.

2. Application Process.
- Preliminary Project Letter. Assuming
the evaluation process is satisfactory,
the Project Finance Division will issue a
PPL. The PPL indicates that EXIM is
prepared to move forward on a
financing offer and the corresponding
general terms and conditions. These
terms and conditions will be based
upon the information available at the
time of the application. The evaluation
and issuance of the PPL will be
completed within 45 days of
commencement of the evaluation.
- Evaluation Post-PPL. After issuance of
the PPL, EXIM will work with the
applicant to secure a final commitment.
On a case-by-case basis, EXIM may
continue to utilize the financial
consultant.

https://img.exim.gov/s3fs-public/pub/pending/eib95-10_attachment_f_project_and_structured_finance.pdf

[The_Gman]

Does anyone else find it very interesting that the PR for the PPL didn't come out until 3 weeks after it was received, and not until the end of the last day to submit comments to EXIM on critical mineral funding questions? Almost as if they were waiting to make sure nothing negative or unsupportive was submitted, making the financing all the more likely? Coincidence?

Walter #111799: In the quarterly reporting filed yesterday I read that on April 15 2024 Niocorp received a Preliminary Project letter ( the PPL) from Exim and that letter includes a preliminary indicative Term Sheet.

[dutchfree]

Right on track !!

[PutzMueler]

Letter of Interest and Preliminary Commitment

Phase 1 complete.

A Letter of Interest (LI) is a non-binding indication of EXIM’s general interest in a proposed transaction or project and provides indicative general financing terms that EXIM is prepared to consider based on a limited review of the transaction/project.

Phase 2
This is where we are now? Since April 16/24
(More Stringent DD)

EXIM Preliminary Commitments (PCs) are non-binding preliminary offers of financing terms based on a credit evaluation and policy review, then approved by EXIM’s Board of Directors. PCs require more stringent due diligence standards than LIs, but less stringent standards for final commitments.

https://www.exim.gov/about/special-initiatives/ctep/critical-minerals

[dutchfree]

I wonder who’s still thinking that this mine will not be built……..

[wagner]

Dear lovely Short,

Thanks for reading....

[Dead On Arrival]

Thanks.

[monocle]

He got 375k

I expressed it in pre-split terms to compare it with the 500k he got a few years ago, making it a 750% increase.

[Dead On Arrival]

How many stock options were granted to Nio management in 2024? I remember reading a poster saying Mark received close to 4 million at 2.99 apiece.

[monocle]

You could be right. I wonder if last night was retail investors panic buying when they saw the news release and then selling shortly after when they realized it wasn't the big news they were looking for.

Extremely curious to see how things shake out here in the short term.

[PutzMueler]

Could be, but because it was after hours I don’t think much of the movement higher was retail investors buying. So we could be looking at a rush to pick up shares which pushed it higher and then it’s now being pushed lower to just start it all again this morning and then some may be hoping retail investors will sell at lower prices While not knowing what her cleared overnight.. It doesn’t look like there will be a gap up. JMO (at least not a large one)

Just my opinion but most of the shares traded after hours were sold by retail investors who got caught with their pants down leaving their sell order left open. Those share are gone.

We definitely shall see because the price fell dramatically overnight but with very low volume comparing with Yesterdays after close rally

[monocle]

Doesn't look like a gap up, down with recent volume pre-market. I wonder if it some folks thought EXIM might be the next source of revenue and are disappointed to find out that will not be the case?

[PutzMueler]

Not always Rader, but no harm in trying if the uptrend gets exhausted and you have sold. Watch the volume.
(It speaks volumes)

https://www.investopedia.com/articles/trading/05/playinggaps.asp#:~:text=Exhaustion%20gaps%20are%20typically%20the,direction%20of%20the%20current%20trend.

[dutchfree]

Thank you! Of course the 800M dept financing package will soon be exercised! Have a pleasant day too!!

[wagner]

Have a wonderful day
Shareholder
Now we are on more Watch lists and everybody knows that Exim process progress is made.

Enjoy the ride

[Rader1977]

We don’t need a $.70 gap to close after the opening bell. Haha

If we do see a large gap up at opening, and then another 50% share price climb again over a few days, I won't miss my chance for a swing trade like I did last month.

Gaps always fill...eventually.

[Truth and Transparency]

They’re probably shorting the stock now….lol

[monocle]

Reading old EXIM NRs and it turns out that the 6-9 month timeline for a decision after submitting an application came from EXIM, not niocorp.

The process from submission of a Phase I application to a final commitment of financing by EXIM, if any, is expected to take approximately six to nine months, and is subject to a number of risks and uncertainties, EXIM said.

I generally stand by my criticism of management here, but I was off base for giving them flack about a missed timeline in this case.