Niocorp Developments Ltd (NB)

[monocle]

Mark closing out his loan from Yorkville I think certainly suggests that he is done loaning the company money. It is possible that this is a condition from exim, that their loan not be used to repay debt to Insiders. I don't know if this is the case or not obviously.

[stark12]

Seems like a no-brainer to me. Front the money to complete the FS and satisfy EXIM. The sooner that is done, the sooner the company stock will likely rise considerably. In light of all the stock, warrants, and options these guys own, they make a huge profit backing this with some skin in the game. It works out better than Lind or Yorkville and there's no dilution. What am I missing?

[USAlonewolf]

You say this at the end of April

Besides, MS the CEO is a millionaire and DK, a Board Director is a billionaire. I am certain between the 2 of them they could always loan the company to stay afloat until EXIM financing.

What changed since then?

[PutzMueler]

What transpired in April for Lithium Americas to collapse the share price when it originally doubled in March?

SP doubled on this news

Conditional Commitment for $2.26 Billion ATVM Loan from the U.S. DOE for Construction of Thacker Pass

Then it fell back on this news

Lithium Americas Announces Proposed Public Offering of Common Shares
GlobeNewswire APR 17, 2024 5:07 PM EDT
(All amounts in US$ unless otherwise indicated) VANCOUVER, British Columbia, April 17, 2024...

You can open the link and read the entire news releases if you wish
https://money.tmx.com/en/quote/LAC

[Rader1977]

Instead of prioritizing new mining and exploration projects, prioritize finding and funding
solutions to minimize the need to extract energy transition minerals (ETMs), including
multiple-life applications and recycling.

Now the recent PR about REE recycling makes more sense. They are jumping through all the right EXIM hoops to get this done.

NioCorp Plans to Investigate Feasibility of Rare Earth Permanent Magnet Recycling

[iii_john]

Any idea on total number of shares company has at this time?

[AlwaysOptimistic]

stark, best to confirm with JS what financing options they are working on. He will know. JMO, but, I think the company is beyond the stage of providing personal loans.

[stark12]

Here's a question begging for an answer:
In the past, the company had a revolving credit line backed by Mark. The terms were favorable for Mark and the company needed the money. Why doesn't Dean do something along the same lines and extend credit to the company--enough money to complete the FS and EXIM consultants? When those two dominoes fall, he could be paid back, the company's valuation would be much improved, and he would be considerably richer on paper. Sounds like a win-win situation. The sooner those things happen, the better for all. I've singled out Dean, but the same could be said for any deep-pocketed person who is invested in the company. So, the question is, why hasn't this happened?

[The_Gman]

Thankfully they programmed in a very small window of opportunity for gray, so we don't have to wait long for an answer. They say it's always darkest before the dawn. Depending on your expectations, I think your buy will be green if it's not already.

[AlwaysOptimistic]

News between now and May 30th will move the price and volume. Approx 3 weeks to go.

[monocle]

There is a lot of gray area in between of planning and hoping. Most of what we do falls somewhere in the middle between those two extremes. He gave himself 6 weeks to make something big happen and only two of them are left. I made a small purchase last week betting that he would get something done. I hope he has a good plan lol

[ColdDarkHole]

Ya know what went into the SPAC planning? Desperation. Ok they probably had a plan there also, but it didn't work. I hope this plan is better.

[The_Gman]

That's concerned me when Lithium America didn't move much on $2.3 billion.

ALMOST makes one wonder if the stock will actually MOVE if/when the actually do get FINANCING, or will this thing be a slug UNTIL the mine is actually built and producing REVENUE

The NB PR hasn't gotten out to a very wide audience. Need more eyes on this before news hits.

[The_Gman]

A lot of words and math and conditions (and likely legal fees) went into creating that loan with that timeline. Even the most jaded and cynical non-shareholders might be able to imagine that there's a plan, if they try really hard.

[NorCalTommy]

What in the heck will it take to move the SP on this stock.... it sits there like a turd in the toilet bowl @ 2.55USD......
What if NB cured cancer, or stopped the war in Ukraine or solved the mineral supply line problem overnight, might the stock move a few cents for those earth-shattering developments!? it's like we have a boat anchor weighing us down.....
Don't all these institutional investors and analysts (that we discussed as major benefits to the RS and NSDQ uplist) see the same EXIM probable financing news (PR yesterday) and factor that into their analysis and investment decision, or was that news just oh hum hum.... nothing to see here..... no SP increase here........

I DON'T get it..... no movement on what appears to be excellent news...... ALMOST makes one wonder if the stock will actually MOVE if/when the actually do get FINANCING, or will this thing be a slug UNTIL the mine is actually built and producing REVENUE..... then a corresponding SP reflective of revenue and PE multiples and all that other technical shit will support the share price...... Geee Zussss H...... whatever happened to NPV's based on '22 FS and forward looking revenue /EBITDA projections to base the current share price on??

These Institutions and analysts are giving NB ZERO benefit of the doubt and it appears they are saying "SHOW ME" (that you can get a FS out and that you can subsequently procure FINANCING..... UNTIL THEN we will treat you like a junior mining penny stock with a 1:100 chance of succeeding..........
Frustrating doesn't even start to describe this stock.....

NCT

[PutzMueler]

I think whoever bought all those 280,000 after hour shares for
Around $800,000 in an hour, knows something that the rest of us don’t. I guess we’ll find out in two weeks.

[ColdDarkHole]

So in reality, we dont really expect 3.3us and 500k volume by the 1st. That seems pretty wild. The real question now is what happens?? Do we give back 1.4m as the 1st payment? Did we already spend it? hmm. Hoping this isnt just the last round of bonuses before the axe falls. Thats not nice to say, but seriously WTF happens on June 1st?!

[Dead On Arrival]

How did it come to this Putz.

[PutzMueler]

Exactly Mark Has some work to do in the next two weeks to make that happen, but if I was a huge Mark Smith fan and I thought for sure it was coming, I might want to gobble up the shares ahead of time.

I’m just glad he can’t blame the TSX. LoL

[The_Gman]

But it’s not definitely not happening yet either.

[PutzMueler]

Maybe. Or Forward thinking.
They realize the price has to move higher to create $500,000 a day in trades. What does mark have up his sleeve to do that, in the next 2 weeks? Because it’s definitely not happening as we speak.

[AlwaysOptimistic]

Yorkville? In the past, Lind?

[Dead On Arrival]

People read the press release in the wrong light and decided Thanksgiving came early this year. Niocorp has an amazing ability to get the stock to run for less than a day and then retreat back to the starting line.

[PutzMueler]

Would you gobble up shares from $2.50 all the way up to $3.24 and then spit them back out at $2.50?

Duh

[Dead On Arrival]

Whoever gobbled up the shares spit them back out.

[dutchfree]

Whether or not, I’ll have time!

[monocle]

You got your info from a video, I got mine from a representative of the company. Jim says they need money for a feasibility study and that exim will likely need to see it before making a decision. Jim also says they need money to finish paying for exims due diligence.

Again, they need a big chunk of cash before and exim decision is made.

[dutchfree]

I don’t think so! Please see that video from Putz’s link….. you GET money from EXIM instead of paying them to get financed.
So believe it or not we’ll get there.

[PutzMueler]

It depends on what you determined to be old, and which starting line you choose to reference it.

April 15 NioCorp was informed by EXIM.

May 3 Friday, Walter informed us the 8k was filed the day before, and what he found to be good news.

May 6 the PR was released. (after hours)

Be thankful they didn’t release the press release before they closed out the TSX. I’m sure you would’ve had some explanation Why there is not any price movement because of a Third World stock market.

Instead they released it after hours so that only people playing the after hours market with gobble up the shares left vulnerable @ the Ask

[monocle]

Not sure what you mean by hurdles down the road? This hurdle is right in front of them and has been for quite some time, them trying to raise money to finish the feasibility study for over a year now. They've been talking about multiple parties being interested in equity financing for years now yet nothing has materialized.

They need a pretty big chunk of cash to finish the process with exim.

[Dead On Arrival]

Was the PR a few days back old news and they still put it out?

[dutchfree]

Thanks for the uplink! This video gives me more confidence that we’ll get this loan.
He mentioned 200k salary per employee as a parameter for finance.
After all I’m convinced we get financed!

[The_Gman]

Re: Information Request on Financing Support for Critical Minerals Projects

Found this letter posted as one of the comments sent in:
https://foe.org/wp-content/uploads/2024/05/2024.05.06_EXIM-critical-minerals-comments.pdf

May 6, 2024
United States Export-Import Bank (EXIM)
811 Vermont Ave NW
Washington, DC 20571
Re: Information Request on Financing Support for Critical Minerals Projects
Dear Chair Reta Jo Lewis,
The civil society and Indigenous-led organizations below respond to EXIM’s request for
information to assist the United States Export-Import Bank (EXIM) in supporting critical
minerals projects, 89 FR 16564. Considering the high risk of negative environmental and social
impacts related to extraction and processing, we urge EXIM to take the following actions:
? Require companies supplying (or sourcing) minerals for the energy transition to have
explicitly stated commitments to respect and uphold Indigenous Peoples and customary
land rights holders right to Free, Prior, and Informed Consent (FPIC) as enumerated in
the UN Declaration on the Rights of Indigenous Peoples (UNDRIP).
? Instead of prioritizing new mining and exploration projects, prioritize finding and funding
solutions to minimize the need to extract energy transition minerals (ETMs), including
multiple-life applications and recycling.
? Require applicants of any projects involving ETM extraction to conduct intersectional1
human rights impact assessments by an external and impartial consultant as part of their
environmental and social impact assessments (ESIAs), integrate these findings into their
Environmental and Social Management system (ESMSs), and disclose these assessments
publicly. EXIM should also require these applicants (especially any that receive EXIM
support) to adhere to internationally recognized human rights and environmental due
diligence policies like the UN Guiding Principles on Business and Human Rights2
and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from
Conflict-Affected and High-Risk Areas.3
? Require companies to have stated commitments to respect international environmental
law and to avoid mining activities in no-go zones, including Ramsar Sites; biosphere
reserves; the Arctic and Antarctic regions; the deep sea (both in the "Area" as governed
by the International Seabed Authority and in the country's own Exclusive Economic
Zones and extended continental shelves); protected areas by third countries; and sacred
sites, zones, or spaces listed as tangible or intangible cultural heritage at the domestic or
international level.
? Refuse to conduct business with any entity whose key personnel or beneficial owners
have conflicts of interest that cannot be adequately managed or with those with a record
of corruption where there is no evidence of mitigating corruption risks. Companies
should document this commitment in a publicly available policy and report on their
implementation of this policy.

1 This additional guidance is required because the level of attention given to gender and the analysis of gender impacts within
standards like the IFC Performance Standards is low.
2 https://www.ohchr.org/Documents/Publications/GuidingPrinciplesBusinessHR_EN.pdf
3 https://www.oecd.org/corporate/mne/mining.htm

? Adopt, disclose, and enforce strong “revolving door,” lobbying, and political donation
rules to avoid conflicts of interest and undue influence of mining companies and the
mineral extraction industry.
? Adopt responsible tax principles and implement responsible tax practices, including
minimizing the use of subsidiaries in tax havens, avoiding project-specific tax incentives,
committing to cooperative engagement with tax authorities, and publishing tax
transparency reports. EXIM critical minerals projects should follow Extractives Industry
Transparency Initiative (EITI) standards, which are where countries publish tax,
payment, and contract data between governments and mining companies.
? Add to the categorical prohibition list:
o Quarries and opencast mining where the surface of the site exceeds 25 hectares.
o Deep sea mining.

Further, EXIM should have an independent accountability mechanism so that communities can
raise concerns about the impacts of EXIM’s critical minerals transactions at any point in the
approval process for the project, so that communities are not put under pressure by unrealistic
deadlines, etc. We appreciate your recent commitment in the National Action Plan on
Responsible Business Conduct to work with Export Credit Agency counterparts to strengthen
best practices around access to remedy. EXIM’s current Environmental and Social Project
Information and Concerns portal falls short of international best practices, and we request that
you soon launch a public consultation to improve EXIM’s accountability process.
We welcome the opportunity to discuss this issue and these recommendations. We appreciate
you taking our comments into account as you consider increasing your support for transition
minerals projects.

Sincerely,
Accountability Counsel
Alyansa Tigil Mina - Philippines
Cultural Survival
Deep Sea Mining Campaign
Earthworks
First Peoples Worldwide
Friends of the Earth US
International Indigenous Fund for development and solidarity “Batani” (Batani Foundation)
SIRGE Coalition
Society for Threatened Peoples - Switzerland
The Ocean Foundation

[dutchfree]

Why is your glass always half full? Instead of half empty? Do you always find hurdles down the road? Must be a stressful live….

To answer your question…. Sure Niocorp find its way to stay alive! For sure now cause they’re right on the hotspot of getting financed!
Fill up your basket with a lot of Niocorp shares….. I’m ready for it! How about you?

[wagner]

I guess your statement is realistic
and we receive some news events before that last

[dutchfree]

Nice find advocate! Thanks!

[monocle]

I didn't mean that exim is looking at the company's bank accounts. They need to raise money for a new feasibility study and to pay for exim's due diligence, presumably before a decision is made. If they had already raised that money would they be further along in the process of getting a final decision from EXIM?

[PutzMueler]

After watching the video I have to say I don’t think so.

I wonder if the company's difficulty raising capital is slowing down the process with exim?

For a project like ours what I got out of the explanation from the EXIM Lead , is offtakes and a large financial backer or Fortune 500 type entity. We have these requirements (assuming Stellantis)

I don’t think they mentioned the company’s capital status at all

[douginil]

Nice find chico

[PutzMueler]

Thanks Advocate77. Trying to further DD on what you had found, I found this link that comes with a video which is a very good explanation of Make More in America, By the Chambers and Partners via Q&A, speaking to one of the Team Lead’s (transportation), at the EXIM Bank

It’s a 25 minute video created very recently, and in my opinion worth the time if you have it.

He also explains EXIM Mission of creating jobs through exports and the calculations EXIM bank relies.

https://chambers.com/legal-trends/overview-of-the-make-more-in-america-initiative#:~:text=The%20EXIM%20MMIA%20initiative%20grew,the%20United%20States,%20that%20would

[monocle]

In response to Walter's question about what the company will do with its next capital raise, Jim listed paying for the new feasibility study first and paying for exim's due diligence second.

Jim has said that exim will likely need to see a feasibility study and his quote above backs that up, assuming he listed them in order of importance and not randomly. Once they have the money, Jim has said it would take several months to complete the latest feasibility study

My guess is 4 months is the earliest a decision will be made.

I wonder if the company's difficulty raising capital is slowing down the process with exim?

[chico237]

METAL TECH NEWS ARTICLE: MAY 8, 2024 ~NioCorp takes step toward $800M U.S. loan
https://www.metaltechnews.com/story/2024/05/08/tech-metals/niocorp-takes-step-toward-800m-us-loan/1748.html

Critical minerals company receives preliminary term sheet for mine financing from EXIM.

The Export-Import Bank of the United States (EXIM) has extended an offer to loan NioCorp Developments Ltd. $800 million to help fund the development of Elk Creek, a critical minerals project in Nebraska that would provide a domestic source of niobium, titanium, scandium, and rare earths.

"Our goal is to make North America less dependent on foreign suppliers for the critical minerals we need to transition to a clean energy and less carbon-centric economy," says NioCorp Developments Chairman and CEO Mark Smith.

To achieve this mission, the company plans to produce niobium and titanium, key ingredients in an emerging rapid-charging solid-state battery; scandium used in lightweight and durable alloys for automotive, aerospace, and defense applications; and the rare earths to make powerful magnets for electric vehicle motors, wind turbine generators, and an array of other high-tech and everyday applications.

According to a 2022 calculation, Elk Creek hosts 632,900 metric tons of total rare earth oxides, 970,300 metric tons of niobium oxide, along with 11,337 metric tons of scandium oxide and 4.2 million metric tons of titanium oxides in the indicated resource category.

This resource supports a mine estimated to produce 7,450 metric tons of ferroniobium (a niobium-iron master alloy), 12,063 metric tons of titanium dioxide, and 104 metric tons of scandium trioxide annually for over 38 years.

NioCorp already has buyers lining up to buy metals produced over the first decade of operations at Elk Creek. This includes offtake agreements for 75% of the ferroniobium and 12% of the scandium scheduled to be produced over the first 10 years.

While the quantities of rare earths to be produced at Elk Creek have not yet been quantified, global automaker Stellantis has entered into terms with NioCorp to offtake future neodymium, praseodymium, dysprosium, and terbium from the Nebraska operation. These four elements are key ingredients in the powerful rare earth magnets that go into the motors driving EVs, including electrified versions of the automaker's Jeep, Dodge, and Ram brands that are popular in North America.

Stars are increasingly aligning

Given the industry and government interest in Elk Creek – along with the fact that it has already secured the key federal, state, and local permits to begin construction – NioCorp is a bit frustrated at the time it is taking to pull together the financing to get project development underway.

"While I wanted to see 2023 be the year in which we formally launched construction of this historic and much-needed critical minerals project in Nebraska, I have never been more confident of success in securing the project financing we need to move the Elk Creek project forward," Smith penned in a January letter to shareholders. "As I see it, the stars are increasingly aligning behind our Elk Creek project, and 2024 promises to be a momentous year for NioCorp."

One of the stars coming into alignment is that EXIM has provided NioCorp with a preliminary, non-binding indicative financing term sheet for $800 million in debt financing.

This loan would cover about two-thirds of the $1.2 billion currently estimated cost to develop Elk Creek. The total costs, however, will likely be higher with the completion of an updated feasibility study for Elk Creek that includes the recovery of rare earths, which is expected later this year.

While not a final loan agreement, the preliminary term sheet demonstrates that the Elk Creek project has advanced past the U.S. government credit agency's initial due diligence.

"While it is not possible to estimate how long the application process will take, I remain very pleased and appreciative of the very focused engagement and constructive feedback that EXIM is providing to us in order to continue advancing our application for financing from the bank," said Smith.

NioCorp is now working with EXIM to continue to advance the project through the next stages of EXIM's due diligence and loan application process.

Sharing recent responses to relevant questions from Niocorp (May 7, 2024)


A NICE READ WITH COFFEE THIS MORNING
May 2024 Export Practitioner
https://www.exportprac.com/stories/may-2024-export-practitioner,12171

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

[User-462888]

I found this timeline for EXIM procedures quite interesting.

https://www.bladesintl.com/wp-content/uploads/2020/03/Critical_Path_EXIM_Project_Finance.pdf

It applies to Foreign Project Financing, which is not the case with Niocorp. However, I think the critical path shown on these slides is more or less the same here and can be indicative of the timeframe that is to be expected between the "Preliminary Project Letter (Phase I)" and the "Final Eximbank Board Approval". My best guess is we might be 2-4 months away from final clarity on the EXIM front. Fingers crossed!

[douginil]

Agreed Prudent Capitalist

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.

[The_Gman]

I didn't remember it correctly, it was the DOE loan to Lithium America and the story was just about the increase in cost for the project, nothing about the increase in loan amount based on that. I looked at a couple of previous PRs and didn't find the original loan amount requested.

The mine's cost has increased from a previous estimate of $2.27 billion to nearly $2.93 billion due to higher engineering costs, an agreement to use union labor, as well as the company's decision to build a housing facility for workers and their families in the remote region.

https://www.reuters.com/markets/commodities/lithium-americas-get-226-bln-us-doe-loan-nevada-mine-2024-03-14/

[GrowthMindset]

Never took you for a dumb guy.

Just a guy on a mission.

[LCP77]

Yes I did. Just a circle jerk of dreamers unless EXIM dd peeps are corrupt or utter bozos.

[GrowthMindset]

You knew all along this was going to happen. Atleast for the last year.

C’mon

LOL

[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/