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From the 10q, Yorkville had $1.7 million debentures to convert at the end of the quarter. It looks like that number was down to $1.28 million at the beginning of May. Curious to see if Fridays momentum can continue next week.
Most of the class b shares remain unconverted. I guess there's just no hurry on those?
It was established that the source of water was in fact a "lake" not an aquifer, thus the ground freezing technology that will be used to sink the shaft. When mining outside the shaft the water will be pumped to the surface into a lagoon, most will be treated (think RO) and used. The original plan of pumping to the Missouri river was scrapped after the discovery of the quantity they are dealing with. This discovery saved the project tens of millions, actually, it is estimated they will run out of water after a period of time of which I'm uncertain, but it is very manageable. The water is brackish, high in sodium, but really nothing else concerning and proof of that was the original thought of dewatering and pumping to the river.
All the proposed changes make 2024 seem less likely for a new fs imo.
This one should be a huge departure from the last 3 and it needs to be.
A better question for Jim would be what’s the status of the detailed engineering that tedro questioned so many years ago? Is your confidence in the project so low that you ask associated companies to ban employees from discussing the project and pointing out the obvious issues with the timeline?
Hey Jim, why does this dumb message board have such an impact on your project funding?
A better question for Jim would be what’s the status of the detailed engineering that tedro questioned so many years ago? Is your confidence in the project so low that you ask associated companies to ban employees from discussing the project and pointing out the obvious issues with the timeline?
Hey Jim, why does this dumb message board have such an impact on your project funding?
Mind explaining how this enables the control of water? We already know the water cannot be pumped anywhere.
These developments will require massive changes that will take a lot of time. Engineering, permiting, etc, etc. This seems to me yet another movement of the goal posts back to yield a couple years of more salaries.
Just digging through some info I got from others and this is very interesting.
I got this from a friend in my email last week. Thanks anonymous 🤣
I have a hunch that EXIM may loan the money for the feasability study and additional engineering. https://exim.gov/solutions/loan-guarantee/emp
(I would think this is in play;)
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I would love to hear how they plan to control the water.
Well Putz, it looks like you are now on Team USA. You won't regret it. At least the markets will be honest.
Thanks Walter, They probably visited Vale’s mine in Sudbury Ont. Nickel, Cobalt, Platinum group CM’s. The ore body has water in it that is corrosive as Jim stated matter of factly in his responses to your query.
Railveyor has a few operations in Canada.
Another Railveyor system is with Agnico-Eagle gold mine in Quebec
Vale is a large miner with many mines using that system.
*********
Perhaps we will merge with Vale haha.
Agree monocle-
I am disappointed that they need to raise capital for EXIM, damn, just ask EXIM if we can just throw it on the backend of the loan, like when one buys a house.... seems easy enough! Done....
At the pace ('Niocorp pace) that this crew moves (i., glacial pace) financing a lot of things could be in the wait mode.....
Wait..... maybe the NB Mgmt. is just waiting for an administration change to get a Treasury crew that has a clue on what they are doing and can tame inflation (caused by the never ending 'stimulus spending' and giving folks money NOT to work...) and then get better borrowing rates...... and also have people in the DOE that understand the urgency of getting mines built and supply lines up and running asap, and not pandering to the extreme climate crowd that wants it BOTH ways, i.e., EV revolution but not with domestic mining.....
NCT
Someone recently quoted Jim as saying "several" million is needed for the fs. I wonder how much is needed to help exim finish their due diligence?
He didn't actually answer your question - "The FS does not cost 20 million does it?"
How much do they need to complete the FS? Knowing this would help us all understand how much more time this is going to take..
This is somewhat how niocorp will do it.
In my opinion... cool video.
Thanks for posting that Walter.
Regarding 1) that they still need to raise money to finish the process with EXIM is disappointing. That won't be closing anytime soon and they need a real source of capital soon.
2) Surprising to hear Jim defend Yorkville. Talks about investors having various reasons for saelling, one of them surely is the effect that Yorkville selling is having on the share price.
3) this had better be a home run of a feasibility study if they're in the beginning stages of considering new processes to add at this point. As soon as possible in 2024 means they need to start pretty soon.
I appreciate Jim candor, this just isn't a very upbeat update in my opinion.
Wonder just how big the tunnel would need to be to accommodate the train and a road for trucks moving equipment, etc.?
LMAO on the waterslide....
Good point also, with the minimal amount of water to worry about and they’re not being ground freezing they could build a waterslide haha.
I’m not sure if you watched that video I posted about the deepest mine in the world, but with a shaft “only” they would have to lower the equipment down and build it at the bottom but with a ramp they could build it at the top and drive it down. Just another point
I always thought our plant was going to have a shaft and a ramp circling it going to the bottom. Is that the ramp they’re talking about?
Good points. Another issue is instead of having an elevator to get to the working mine, would the mine workers have to travel the entire length of the train route in order to get to work every day, taking much, much more time to get to work every day?
The Railveyor Train, like the Recycling PR earlier this week both sound great! but wouldn't you think NB would have researched these projects/initiatives LONG ago, like 6-12 months ago- in order to capture the CAP-EX and scope components of the project??? instead of just now floating these ideas/projects while we are in finance negotiations with EXIM and partnership with STELLANTIS.... this seems awful late in the planning to be introducing these new prospective PROJECTS..... hmmmmm just my .02..
NCT
Explanation of professional fees on page 24 doesn't mention any of that
Shrug
Don’t wanna be dumping half the ore out the back end of the train cars lol 30% grade is pretty good JMO
Plus the ramp can’t be much steeper than that anyways because there will be other traffic as well
All very positive Walter. Thanks for sharing those responses from the company.
Jim I was asked the following questions by my fellow shareholders
1)I understand Niocorp management is working or negotiating on a 20Million financing . What will the money be used for? The FS does not cost 20 million does it?
Proceeds from any of multiple financings on which we are working now are slated to go toward the costs of several elements of the Project: (1) completing our updated Feasibility Study, including engineering of the Project’s new process flow sheet; (2) costs associated with the EXIM bank’s loan due diligence process, (3) costs associated with due diligence processes with large equity investments needed to complete the Project’s up-front CAPEX requirements; (4) possible purchase of additional land in Nebraska; and (5) continuing to advance the Project to a construction start, such as conducting additional drilling, preparing for utility installation, or other site prep work; (6) repaying the debt we recently took on; and (7) other Project-related expenses.
2) Yorkville has been a bridge financer but is constantly selling shares which results in a constant drop of the shareprice.Is it not possible to find financers for the longer time who invest in Niocorp to enable Niocorp to build the mine.
Yes, and we are in continuing discusions / negotiations with a number of globally recognized investment firms interested in the Project.
As an aside, it is worth noting that, on many days when the share price ends in the red, Yorkville has not been active in the market on that day. Sellers come in all shapes and sizes, have a myriad of reasons why and when they sell, and rarely disclose those transactions.
3) What is the status of Niocorp investigation in using the railconveyor concept for Niocorp and what possible effect could it have on the building of the mine and the economics of the project.
The investigation is well underway. An independent analysis has been completed. In addition:
1. Staff has toured an operating railveyor system at a working mine, which has been operating successfully for over 5 years, and is similar in length and larger in tonnage than the one needed at Elk Creek. The environment at that particular location is challenging, as the terrain is not level or straight, conditions are wet and the water present in the workings is corrosive.
2. The railveyor system is robust in its construction, easy to maintain by people with basic mining skills, and does not require tight tolerances or precise techniques in its installation. In contrast, a vertical shaft has to be just about perfectly straight and completely vertical, and the equipment that goes in the shaft and the hoist house is highly specialized, expensive to purchase and maintain and requires a high degree of precision in its installation.
3. The next logical step for railveyor would involve bringing in experts to evaluate the geotechnical aspects of the ramps needed to support a railveyor-based mine along with a hydrogeologic evaluation to ensure that any water coming into the railveyor ramps can be dealt with. In concert with that, we’d advance the engineering design to FS level and get a firm quote from the manufacturer.
Walter
US: It is my understanding that there are very significant Professional fees, including both legal and Deloitte, in connection with the Stellantis transactions and the EXIM process.
Richard I vote you split Jim’s salary. Thank you
I wondered why they followed me on LinkedIn, and now I know.
The one main issue that concerns me about installing a Railveyor system is the statement where the Railveyor trains can ONLY reliably handle grades of 30%. That would mean the train would have to be really long to go down into this mine, instead of drilling straight down with mine shafts, IMHO.
----------------------------------------------------------
Welcome to the mine of the future. Railveyor is the world’s most innovative mining bulk material handling system. Fully electric and Truly Autonomous, our narrow-gauge light rail system is propelled by low-horsepower stationary power plants adjacent to the rail route. Railveyor’s combination of high efficiency and low maintenance makes trucks, conveyors, and trains a thing of the past.
Railveyor Trains
A Railveyor Train requires minimal clearance, able to travel through existing tunnels and drifts. Trains may be as long as your application requires and can reliably handle grades of up to 30% – potentially even more based on your material type and quality. Trains may also handle curves with a radius as tight as 100 feet (30m).
https://www.railveyor.com/
A lot less maintenance with the ramp if they can make it work awesome
Yes, also Scott and Neil took that pic at a mine about 2 weeks ago.
They are looking at a ramp instead of a shaft. It will save around 200mil and months off the time line to build the mine.
Approximately 6 to 9 mouths less.
They can control the water when they do this so ground freezing will probably not be needed.
That was a Snip from the filling. Also more here and well worth the read..
https://www.reddit.com/r/NIOCORP_MINE/s/b4jaYId7zG
Richard, Thanks for this. Niocorp spending money on engineering at this point is a very bullish indicator to me.
Where did you find this info.
Supply certainty for critical minerals needed to avoid ‘system vulnerability’ in energy transition
02 MAY, 2024 BY BELINDA SMART
SAFE’s Abigail Hunter Testifies on Comprehensive Trade Approach for Critical Mineral Supply Security
POSTED ON: MAY 2, 2024
Long paper with lots of talk about China, magnets and domestic production. Abigail Hunter was on the panel with EXIM Chair Lewis at SAFE, just before Mark's presentation.
Random quotes, not necessarily in any particular order:
Thanks for your thoughtful comments, Omaha. Unfortunately, many of our most knowledgeable posters who have serious investments in NB have simply stopped posting here due to the deterioration of the Board or gone to Reddit.
A Tony Orlando cover band will be on the stage today for a 30 minute greatest hits set and then Dean Kehler will proudly ring the bell to get the TSX off Niocorp's back and end the day. I believe the stock lost over 80% of its' value while being listed there. Good riddance to a horrendous exchange.
All Hail the USA!!!!!
Yeah it sucks to have to follow the actual rules to protect investors, doesn’t it?
I posted many times how it was a fake run up so that NioCorp could get on the TSX 30.
The dates were exact and they needed a certain share price to get on the TSX 30. That’s not Canada that’s management and their manipulators
Remember who everyone from here thought was Buying ? Lol LWLG sellers
And they even mentioned someone’s name who posts on both boards.
But we won’t go there anymore because now there are no rules to worry about lol
We are all at GX’s mercy
Sheeeesh
At least bought some NB yesterday(5/2/24).
Could this mean news Monday AM?🤔
Remember when Canada killed our rally?
So long TSX!!!!
https://www.niocorp.com/niocorp-developments-responds-to-market-activity/
Sorry basher and shorter, not a good day
The Company retained a mine engineering consultant in February 2024 to evaluate, at a scoping level, the costs and benefits of electrifying the mine and accessing it via ramps instead of vertical shafts. The evaluation did not include the detailed examination of geotechnical or hydrogeologic issues. The findings of the evaluation indicated a potential savings in upfront capital cost, a shorter schedule to get the mine to full production, and potential operating cost savings. These findings are preliminary but encouraging, and the Company plans a more detailed evaluation of this option for the design of the underground mine as part of a future update to the technical report for the Elk Creek Project.
For folks' reference, given the update in the Quarterly Statement:
Preliminary Project Letter (Phase I). Upon satisfactory completion of the phase I evaluation process, the Structured Finance Division will issue a Preliminary Project Letter within 45 days from the date evaluation begins by the financial advisor. The PPL will indicate if EXIM Bank is prepared to move forward on a financing offer and the corresponding general terms and conditions based upon the information available at the time of application.
Evaluation Post-PPL (Phase II). After issuance of the PPL, EXIM Bank will work with the applicant to proceed to a Final Commitment. Please note that EXIM Bank does not issue Preliminary Commitments for project finance transactions. EXIM Bank will continue to utilize the financial advisor for Phase II of the due diligence process.
Yeah and not listed nasdaq, today we are and tsx soon disappear
It wasn’t useless when we had a $300M market cap
But then again Canadians don’t really like being robbed from behind
EOFM
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Moderators Prudent Capitalist stark12 Landmark8211111 Nebraskan ALDRADJKD123 Rader1977 |
NioCorp Developments Ltd. is a U.S.-based mineral development company focused on developing several superalloy metals from the proposed Elk Creek, Nebraska Critical Minerals Mine. NioCorp plans to produce three commercial mineral products — Niobium, Scandium, and Titanium — from a single ore body in the Midwestern United States. NioCorp's Elk Creek Project is highly unique. It is North America's only niobium / scandium / titanium project. It is the highest grade niobium project in North America. It is one of the largest prospective producers of scandium in the world. Once in production, it will initiate the first production in the U.S. in decades of Niobium and Scandium. All three of the Project's proposed superalloy metals have been designed as "Critical Minerals" by the U.S. Government.
NioCorp is a publicly company that is listed on both the Toronto Stock Exchange under the ticker symbol "NB" and on the U.S.-based OTCQX exchange under the symbol "NIOBF." Shares are also traded on the Frankfurt Exchange, under the ticker symbol "BR3."
NioCorp Developments Ltd.—
General Inquiries:
Telephone: (720) 639-4647
Investor Relations:
Jim Sims, VP External Affairs
Phone: +1 855-2-NIOCORP (855-264-6267)
Email: jim.sims@niocorp.com
NioCorp Developments Ltd.— Denver
7000 S. Yosemite St., Suite 115, Centennial, CO 80112
Reporting Status | International Reporting: TSX Venture Exchange |
Audited Financials | Audited |
Latest Report | 2/7/20 (FOR REPORTING PERIOD ENDING 12/19) |
CIK | 0001512228 |
Fiscal Year End | 6/30 |
OTC Marketplace | OTCQX International |
SIC - Industry Classification | 1061 - Ferro-alloy ores (except vanadium) |
Business Status | Development Stage Company a/o |
Incorporated In: | British Columbia, Canada |
Year of Inc. | 1987 |
DIRECTORS AND MANAGEMENT
Mark A. Smith | CEO, President |
Neal Shah | CFO |
Jim Sims | VP, Bus. Affairs, IR |
Scott Honan | VP, Bus. Dev. & Corp. Rel. |
John Ashburn, Jr. | Vice President, General Counsel, Corporate Secretary |
CORPORATE PRESENTATION: http://niocorp.com/wp-content/uploads/NIoCorp_Corporate_Presentation.pdf
Overview of the Elk Creek Project: http://www.niocorp.com/elk-creek-project/
U.S. Geological Society description of Elk Creek Carbonatite
"The Elk Creek carbonatite, located south of Lincoln, has the potential to be one of the largest global resources of niobium and rare-earth elements (REE). These REE's have many important applications in industry, including petroleum-cracking catalysis, steel alloying, and glass polishing, and as sources of permanent magnets and phosphorus for television and lighting.
The Elk Creek carbonatite is buried beneath about 500 feet of overlying rock and is known only from drill cores, which, until recently, have remained proprietary. Scientists from the USGS and the Conservation and Survey Division (CSD) of the Institute of Agriculture and Natural Resources at the University of Nebraska--Lincoln have studied drill cores."
LINK TO CHART: http://stockcharts.com/h-sc/ui?s=NIOBF&p=W&yr=2&mn=0&dy=0&id=p85189412906
Website: http://www.niocorp.com
MEDIA, LINKS, SELECTED PRESS RELEASES :
http://investorintel.com/technology-metals-intel/niocorps-mark-smith-on-the-rising-global-interest-in-superalloys-scandium-and-niobium/
http://niocorp.com/index.php/press-releases/299-positive-metallurgical-test-results-point-to-process-breakthrough-that-may-help-reduce-capex-and-opex-in-niocorp-s-elk-creek-project
https://www.youtube.com/watch?v=OKO2VkR2MMk&feature=youtu.be
https://www.youtube.com/watch?v=mWOHEQRzWQQ&feature=youtu.be
https://www.youtube.com/watch?v=u_earl9doNM&feature=youtu.be
http://niocorp.com/index.php/press-releases/230-niocorp-named-the-top-performing-mining-company-on-the-tsx-venture-exchange-and-announces-conditional-approval-of-graduation-to-the-toronto-stock-exchange
https://www.youtube.com/watch?v=IbEbivUi2o4
http://wallstreetanalyzer.com/niocorp-developments-tsxvnbotcqxniobf-ceo-interview-update/
http://www.youtube.com/watch?v=R19DMe1ouqg
http://www.niocorp.com/index.php/press-releases/media/197-niocorp-ceo-mark-smith-interviewed-by-bnn
http://www.niocorp.com/index.php/press-releases/media/190-bold-nebraska-comments-on-the-development-of-the-elk-creek-niobium-deposit
http://www.niocorp.com/index.php/press-releases/media/189-tracy-weslosky
http://www.quantumrareearth.com/press-releases/163-former-molycorp-ceo-mark-a-smith-joins-niocorp-developments-ltd.html
http://www.niocorp.com/index.php/press-releases/media/183-rare-mineral-project-in-nebraska-to-bring-huge-economic-opportunities
About NioCorp
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce niobium, scandium, and titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy ("HSLA") steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium can be combined with Aluminum to make super-high-performance alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and has extensive uses in aerospace, defense, transportation, medical, and other applications. It also is a key component of pigments used in paper, paint and plastics.
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