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Niocorp is "Not" attending the H.C. Wainwright 26th Annual Global Investment Conference
September 9-11, 2024?
https://hcwevents.com/annualconference/
After attending in past years & even winning an award, Niocorp does not appear to be interested in attending this conference in 2024.
Last Years Presentation 2023 H.C. Wainwright Conference:
NIOCORP A SPONSOR of the 20th International Rare Earths Conference & 3rd International Scandium Symposium
https://metalevents.com/
Still here.... Grumpy & waiting with many.... !!!!
Chico
Hey NorCal! It’s all up to Niocorp to deliver now…. I have no accolades or prescient information to share.
Niocorp has stated on several occasions when questioned that - numerous government & private entities have been interested and that often they cannot comment until they can with material news.
It is 2024 or Bust time. Given all the info I have shared …. I remain Hopeful & speculate they can get this project built.
That being said …. My nuts are just as sore NorCal.
2024 or Bust!
Chico
I agree Norcal! Given - Boeing and Airbus planes constructed with 'fake' Chinese titanium
Airliners manufactured by Boeing and Airbus have components made from titanium that was sold with fake documentation.
The Federal Aviation Administration revealed the problem after Boeing reported it to the agency when it was notified by parts supplier Spirit AeroSystems.
Faked documentation certifying the authenticity of the titanium could mean it was not up to standard or tested to withstand the rigors of air travel.
The FAA said it was 'investigating the scope and impact of the issue' and how it could affect the safety of the unknown number of planes using the parts.
Boeing & Airbus & The U.S. Govt. & DoD might want Documented, SECURE, STABLE & DIVERSE Critical Minerals from mines like Niocorp.
From my notes on Oct. 18th 2023~ SLIDES FROM NioCorp's CEO Mark Smith Highlighting the Aluminum-Scandium Master Alloy Initiative at the 25th Annual H.C. Wainwright Global Investment Conference.
TITANIUM "TICKLE" MAY BECOME A LARGE SOURCE OF REVENUE GOING FORWARD.
********TITANIUM OFFTAKE AGREEMENT PER MARK SMITH - "SOON!!! ...... "Still Waiting for that too!"
https://www.msn.com/en-us/money/companies/boeing-and-airbus-planes-constructed-with-fake-chinese-titanium/ar-BB1of8aX?ocid=msedgntp&pc=HCTS&cvid=4f50217e9be74091bc605a6cbfc2831a&ei=29
NIOBIUM & TITANIUM IS NEEDED FOR HYPERSONICS
June 6th 2024 Despite the expense, Hypersonics are crucial
https://thehill.com/opinion/national-security/4704625-despite-the-expense-hypersonics-are-crucial/
MARCH 2024 Materials design for Hypersonics
https://www.nature.com/articles/s41467-024-46753-3.pdf
MARCH 4th 2024 Hypersonic Hegemony: Niobium and the Western Hemisphere’s Role in the U.S.-China Power Struggle
https://www.csis.org/analysis/hypersonic-hegemony-niobium-and-western-hemispheres-role-us-china-power-struggle
Jeunke22 Appreciate you sharing your responses here on this board! It ties in nicely with those I received/shared on May 21, 22nd (Earlier this year 2024) & from my notes from the Niocorp June 5th 2024 presentation. (SEE BELOW)
Some of my Notes from JUNE 5th Presentation:
Mark Smith- During the presentation (JUNE 5th 2024) stated - EXIM does not need to see a completed F.S. for the contract (Term Sheet) to conclude. Also, the Feasibility Study & EXIM process can/are running in parallel; & that Niocorp was making every effort to complete the F.S. ASAP. With the project still pending Finance Debt/Equity to move forward.
Scott Honan - During the presentation (JUNE 5, 2024) - Mentions that additional Geo/Hydrological work, a complete Re-Engineering of design, Final "ORE" calculations along with Process Flowsheet all "Need to be completed at the Feasibility Study Level & validated" (Including the RailVeyor.)
Along with other relevant factors, among which Scott Stated that approx. 9 more months "might be needed" to complete said F.S
Per Juenke's RESPONSE:
PM/All sharing Jims response 5/24/2024 as follows:
Confirms "Jim" is in D.C. not sure about the rest of the team... Non the less very positive momentum now!
When asked about rumors of Niocorp being in D.C.?
RESPONSE:
Me too NORCAL! Holding with many small retail investors like myself who still believe in the project.
a) Waiting for ESIA /EXIM environmental study & conclusion.
b) DoD/Pentagon Scandium monies +/-$10 million (Earmarked via N.D.A.A. 2024 specifically for U.S. Scandium production)
c) The "Early as Possible"...2024 Feasibility Study which will "Validate" all the goodies (Niobium, Scandium, Titanium, REE's, CaCO3, MgCO3 & some Iron Stuff), all the critical mineral production tonnages proven as SCALE (Via the New Proprietary Separation Process), & the final CAPEX/OPEX & NPV; all for the FINAL LAST TIME!
d) EXIM Financing $800/Debt
e) Stellantis or other Interested Entities involved in $400 Million Equity/partnership or other means.
f) Final Off-take agreements & REE Magnet production agreements with NEO performance?? or other U.S. entities T.B.D.
FOR CONTEXT See some of my recent shared responses from management below:
***SEE RESPONSES FROM NIOCORP/JIM SIMS FROM AUGUST 14, 2023 ~Good morning - Jim!
While waiting for Niocorp’s 2023 F.S. Release… The announcement for Scandium Alloy Production & Scandium alloy funding are most welcome!
Leading me to add to my line of questions regarding Scandium & (Niocorp).
A) Would Niocorp qualify for a portion of this recent funding once approved by Congress? Moving forward.
RESPONSE:
"We will announce updates on our ongoing talks with Stellantis when we and Stellantis have a public announcement to make. That is how it works when two public companies engage in business transactions such as this."
gotta ask.
RESPONSE:
"Yes, potential downstream integration is being examined with regard to rare earths, as we are doing with scandium alloys. Our team has been involved in running commercial operations an across all five stages of the mine-to-magnet supply chain, including magnets."
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.
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) 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.
****No.******.
*****Yes.******
Yes.
Yes.
The process is ongoing.
Those numbers still look great grunt!! Plus when they complete the F.S. With all the goodies! The byproducts of CaCO3, MgCO3 & some Fe stuff should be included too…
Waiting with many…
ALL/Greatly appreciated Norcal! Thank you for following up & sharing your responses to recent relevant questions asked to management! It gives us all a good idea of where we stand, while we wait for material news to be announced as it becomes available.
SEE REPONSES TO QUESTIONS ASKED APRIL 1, 2024 & APRIL 5th, 2024 BELOW:
Jim could you please offer commentary where possible on the following questions.
Given Exim's Bank continued commitments in moving towards financing vital & viable Critical Minerals Projects.
1) Where does Niocorp stand in the current EXIM process? Was another firm/team employed to continue moving along NIOCORP'S EXIM Bank financing process? (Please comment where you can.)
RESPONSE:
"After having successfully passed the Bank’s TRC-1 review process, we are now engaged in the bank’s due diligence process with several independent consultants selected by EXIM. "
RESPONSE:
"There are several months of work remaining to complete the FS, including detailed engineering of the new process flow sheet, updated mineral reserve calculation, updated CAPEX and OPEX estimates, updated market analysis and product pricing, and other aspects. The speed with which we proceed is driven by availability of funds, as you would expect. "
BTW, I did not say “early 2024”; I said “as early as possible in 2024.”
RESPONSE:
"Yes, multiple parties. "
RESPONSE:
"We will announce updates on our ongoing talks with Stellantis when we and Stellantis have a public announcement to make. That is how it works when two public companies engage in business transactions such as this."
RESPONSE:
"There are two separate tax credits referenced here: 45X and 45C.
Regarding 45C, that program required applicants to seek a credit for projects that could be constructed and put into operation within 24 months. Thus, we were not eligible for the tax credit for the Elk Creek Project.
Regarding 45X, this was designed by Congress to provide minerals producers and processors with a 10% production tax credit for domestically produced critical minerals. Unfortunately, the Biden Administration has proposed to disallow application of the credit to the cost of extracting or acquiring critical minerals, and to allow its application only to the “processing” of critical minerals. This would essentially defeat the purpose of Congress’ intent with this provision and would, perversely, encourage companies to mine critical minerals overseas, instead of the U.S. This philosophy is also reflected, in general, in the Administration’s push to send taxpayer dollars to support overseas mining projects. Fortunately, the Export-Import Bank of the U.S. is charting its own path in terms of seeking to finance domestic critical minerals mining and processing projects.
NioCorp joined with many hundreds of other companies and associations to push back on this policy and to encourage the Administration to stick to Congressional intent and allow this 10% tax credit to apply to both the mining and processing of critical minerals in the U.S. See this: https://www.niocorp.com/niocorp-joins-with-major-automotive-manufacturers-to-urge-action-by-biden-administration-on-mining-tax-incentive/
A 10% production tax credit covering the costs of both mining and processing our critical minerals in Nebraska would deliver substantial financial benefits to the Project, once the Company begins paying federal taxes.
Jim"
MARCH 21, 2024,~ EXIM BANK - ASM receives US$600M (A$923M) Letter of Interest from US EXIM BANK:
https://asm-au.com/asm-receives-us600m-a923m-loi-from-us-exim-bank/
Australian Strategic Materials (ASM) is pleased to announce it has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) to provide a debt funding package of up to US$600 million (A$923 million) for the construction and execution phase of the rare earths and critical minerals Dubbo Project.
Highlights
LoI from US EXIM bank for up to US$600M (A$923M) in debt financing package for Dubbo Project
US EXIM is the official export credit agency of the US federal government
US government support is a catalyst to increase customer and financing focus in North America
LoI from US EXIM is in addition to A$200M Letter of Support previously received from EFA
Dubbo Project is a construction ready, globally significant and long-life rare earths and critical minerals project
*****REMEMBER BACK ON MARCH 6th 2023 ********
"Could NIOCORP FINANCE FIRST????".... I AM STAYING TUNED WITH MANY!!!
Export-Import Bank of the United States Issues Letter of Interest to NioCorp for Potential Debt Financing of up to $800 Million for NioCorp’s Elk Creek Critical Minerals Project
https://www.niocorp.com/niocorp-receives_800-million-letter-of-interest-from-exim-bank/
CENTENNIAL, Colo. – March 6, 2023 – NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB) (OTCQX:NIOBF) is pleased to announce the receipt of a Letter of Interest from the Export-Import Bank of the United States (“EXIM“) for potential debt financing of up to $800 million through EXIM’s “Make More In America” initiative to fund the project costs of NioCorp’s proposed Elk Creek Critical Minerals Project.
EXIM’s communication to NioCorp states: “We are pleased to extend this Letter of Interest in support of the proposed capital funding plan by Elk Creek Resources Corp. for the Elk Creek Project. Based on the preliminary information submitted on expected exports and jobs supported, EXIM may be able to consider potential financing of up to $800,000,000.00 of the project’s costs under EXIM’s Make More In America initiative.” Elk Creek Resources Corp. is a Nebraska corporation wholly owned by NioCorp.
A project finance letter of interest from EXIM represents only a preliminary step in the formal EXIM application process, and the Letter of Interest states that the communication “does not represent a financing commitment” and “is not an explicit indication of the financial or commercial viability of a transaction.”
NioCorp expects to submit an application to EXIM to begin the first phase of the underwriting process (“Phase I”) as soon as possible. As stated in the Letter of Interest, “Upon receipt of NioCorp’s application for financing, EXIM will conduct all requisite due diligence necessary to determine if a Final Commitment may be issued for this transaction.” 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. See “About NioCorp’s Application Process” and “Forward-Looking Statements Disclaimers” below for additional information. As explained in the Letter of Interest, “Any final commitment will be dependent on meeting EXIM’s underwriting criteria, authorization process, and finalization and satisfaction of terms and conditions. All Final Commitments must be in compliance with EXIM policies as well as program, legal, and eligibility requirements.”
“We are very pleased with this Letter of Interest from the Export-Import Bank of the United States for NioCorp’s Elk Creek Critical Minerals Project, and with the fact that we may qualify for as much as $800 million in debt financing from EXIM,” said Mark A. Smith, Chairman and CEO of NioCorp. “We look forward to finalizing and submitting a formal loan application to EXIM and working closely with them through this process.”
The debt financing is subject to the satisfactory completion of due diligence, the negotiation and settlement of final terms, and the negotiation of definitive documentation. There can be no assurance that the debt financing will be completed on the terms as described above or at all.
As noted on EXIM’s website, in February 2021, President Biden signed Executive Order 14017 directing an all-of-government approach to assessing vulnerabilities in – and strengthening the resilience of – the United States’ critical supply chains. From that Executive Order, the White House released findings from its comprehensive 100-day supply chain assessments for four critical products: semiconductor manufacturing and advanced packaging; large capacity batteries, like those for electric vehicles; critical minerals and materials; and pharmaceuticals and active pharmaceutical ingredients
SEE ALSO:
MARCH 21st, 2024 ~Two years after start of Ukraine war, Russian titanium keeps flowing to West
https://www.washingtonpost.com/world/2024/03/21/russia-titanium-exports-sanctions/
FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
Looks like EXIM is following their plan too! Waiting with many & staying tuned!
Chico
Excellent information & opinion GMAN! I agree... The DOD is very interested in all of the minerals the Elk Creek mine will produce! Including TERBIUM (considering what it is used for! 😜) Take a peek at the following additional information which I have posted & shared.
https://www.reddit.com/r/NIOCORP_MINE/comments/197n41k/niocorp_dod_releases_first_defense_industrial/
Jan. 12th, 2024~ DOD Releases First Defense Industrial Strategy
DOD Releases First Defense Industrial Strategy > U.S. Department of Defense > Defense Department News
The Defense Department today released its first strategy for ensuring that the U.S. defense industrial base meets the demands of a challenging national security landscape well into the future.
The 59-page National Defense Industrial Strategy lays out long-term priorities that will guide DOD actions and resource prioritization with the aim of creating a modern, resilient defense industrial ecosystem designed to deter U.S. adversaries and meet the production demands posed by evolving threats.
SEE RELEASED REPORT BELOW:
2023-NDIS.pdf (businessdefense.gov)
January 8, 2024 ~FY2024 NDAA: Defense Industrial Base Policy Updated:
Background
The defense industrial base (DIB) is the network of organizations, facilities, and resources that supplies the U.S. government—particularly the Department of Defense (DOD)—with materials, products, and services for defense purposes. The DIB is large and complex, encompassing private and public entities engaged in activities ranging from basic research to the assembly and delivery of complete weapons systems (for more information, see CRS Report R47751, The U.S. Defense Industrial Base: Background and Issues for Congress). Given its role in enabling military operations, the DIB tends to receive considerable attention from Congress, particularly as part of the annual defense authorization and appropriation process
FY2024 NDAA: Defense Industrial Base Policy (congress.gov)
In Regards to SCANDIUM- Take a peek at what may indeed be going on behind the scenes.... & "Jim did state the U.S. Govt. works SLOW!!!"
https://www.reddit.com/r/NIOCORP_MINE/comments/1937vm0/niocorp_rare_earth_magnets_outside_asia/
A NICE READ WITH COFFEE! =)
Select Committee Adopts Proposal to Reset Economic Relationship with The People's Republic of China | Select Committee on the CCP (house.gov)
reset-prevent-build-scc-report.pdf (house.gov)
SEE ALSO:
https://www.reddit.com/r/NIOCORP_MINE/comments/18xi5p6/niocorp_niccorp_responds_to_recent_questions_on/
FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
Waiting With many..... C'mon already DOD, EXIM, DoE/LPO, STELLANTIS or any other option!!!!! LET'S GO NIOCORP!!!
Chico
Thanks for posting such relevant topics GMAN! Catching up reading your posts & those of others today! "Much appreciated!" Jim did state NIOCORP HAS BEEN ENGAGED with both PRIVATE & GOVERNMENT entities for a good amount of time now. (I have posted Jim's/Niocorp's responses to those relevant questions in several past posts)
Jim also stated "The Government tends to move SLOWLY!!!"
Reading your posts confirms the facts stated above. EXIM, STELLANTIS or OTHER GOVT. ENTITIES are engaged. "SLOW but sure now.... as I think all understand the GLOBAL circumstances now/finally." Many here have known the U.S. needs more Critical Minerals for YEARS!! & are still here & invested in the Elk Creek Project...including myself.
Waiting with many here for material news as it becomes available!
I.E. Early 2024 F.S.
EXIM Finance
Stellantis anchor investment
or ANY Combination of "Interested Parties both Private & Govt." (D,E,F,G....)
The Wheels are turning...still. Even the small draw down sources to keep the lights on are "INTERESTING"!!!
LET'S GO NIOCORP!!!
Chico
Hey GE! Appreciate the kind words…. However Scott Honan sent all the images to Richard! He asked me to post them. So all accolades belong to Richard & C.O.O. Scott Honan 😜
Those pictures were just a nice “hint” of what should be on the way.
Let’s go Niocorp!!!
LOL NORCAL....! Just trying to ask & share relevant information with many here & also pick up shared information from others...Many post excellent Pro & Con materials. Others.... "Not so much..."
IMHO -Niocorp's Team is on a path to construction. (Just taking A Lot longer than we all thought... "Govt. CHEESE is indeed involved" Go figure Right!!!
Now that I think about it, Dutch ....
"Chico's Shaft" does have a nice ring to it! 😜 Just an average shaft. A shaft that doesn't run "Too Deep", yet gets the job done!
Nah... I like Graffiti Better
"Gotta Keep my SHAFT COVERED!" 🤣
One of these Days Norcal - Niocorp May get this built yet!
Holding onto my front row seats with many into the 2024 Season....
Perhaps "This is THE YEAR 2024?!!"
Yada yadda....
Stellantis’ STLA (Stella) platform: Everything we know from a 2021 article on announcement of platform:
https://topelectricsuv.com/featured/stellantis-stla-platform/#USD_30_billion_investment
STLA platform powertrain & battery
Models based on the STLA platform will use third-generation electric powertrains. Michael Bly, Head of Global Propulsion Systems, Stellantis, said at the Stellantis EV Day 2021 that the optimized, integrated 3-in-1 electric drive module allows power systems that can produce 70-330 kW (95-449 hp), driveline flexibility of FWD, RWD, and AWD, and 4xe.
Using Nickel Cobalt-free cells in lower-end models and Nickel-based cells in higher-end models would reduce the environmental impact. Image Source: Stellantis
2024 onwards, the group plans to have a dual-chemistry strategy for its EV battery cells. It will likely use Nickel Cobalt-free cells in lower-end models and Nickel-based cells in higher-end models. Cobalt availability is scarce and is often linked to unethical extraction practices. The pack configuration will vary initially, but from 2026, it will switch to one unique cell-to-pack design.
Compared to 2020, the company sees costs go down by more than 40% at a module level in 2024 with module simplification, cell-size increase, and chemistry upgrade. Jean Personnaz, Electrified Powertrain Engineering, Stellantis, revealed these details at the Stellantis EV Day 2021.
March 2, 2023 Stellantis (STLA) to Invest $155M Each in Two New Projects
https://finance.yahoo.com/news/stellantis-stla-invest-155m-two-142002272.html
Stellantis STLA became McEwen Copper’s second-largest shareholder after acquiring an equity stake of 14.2% for $155 million in McEwen Mining’s subsidiary. McEwen Mining owns the Los Azules project in Argentina and the Elder Creek project in Nevada. Starting in 2027, Los Azules targets producing 100,000 tons per year of cathode copper.
Copper is a crucial raw material for the future of electric mobility. In the coming years, the demand for conducive metal is expected to increase several folds. Los Azule is one of the top 10 international projects in the development of copper and by making this investment, Stellantis will be able to meet its projected copper demand starting in 2027.
Through this investment, Stellantis intends to become an industry leader in achieving carbon net zero by 2038. Stellantis is taking crucial steps in Argentina and Brazil to ensure the long-term supply of copper and other raw materials necessary to fulfill the company’s global electrification plan.
Stellantis also announced plans to invest $155 million in Indiana Transmission, Kokomo Transmission and Kokomo Casting Plants to localize the production of a new electric drive module. The electric drive module (EDM) consists of three components that are combined into a single module to achieve improved performance at a low cost.
The module will be integrated in more than 25 battery electric vehicles, scheduled for launch between now and 2030, designed on the STLA Frame and STLA Large platform. Due to its optimized efficiency, this module can help each platform achieve a driving range of 500 miles (800 km).
I'm not touching that one with a ten foot "Pole"! (Pun intended!) Just a ride down & look inside the beastie would be very cool indeed! but perhaps I could leave some Graffiti! "Chico was here! "lol eom
LOL Dutch! Not sure about a road? but maybe a ride down into the mine once/during build out would be very cool indeed!
Hugs to you & the misses!
Nice Find PM! Thank you for sharing... Stellantis does have access to some righteous capital $$$ & is making some moves in the U.S. to shore up a domestic supply for manufacturing here in the U.S. on several fronts. GM has already secured magnet manufacturing & REE's from MP Materials which is owned (10% by Shenge in CHINA!)
https://gmauthority.com/blog/2022/04/gm-and-mp-materials-announce-definitive-rare-earth-alloy-and-magnet-supply-agreement/
MARK SMITH~ during the Stellantis OFFTAKE TERM SHEET signing announcement qoute:
***“We are very pleased to announce that NioCorp and Stellantis have agreed to collaboratively develop Stellantis’ magnetic rare earth supply chain, including helping to identify a sintered rare earth permanent magnet manufacturer that provides additional geographic optionality to Stellantis, in support of their ambitious commitment to reach carbon net zero by 2038,”****
******Not yet, but we will certainly make announcements as those become appropriate.******
"Neo has also dropped some heavy hints that they'll soon be announcing a similar factory in the US, likely accompanied by government subsidies similar to the EU one. Examples of such hints include their investor presentation (see slide 37) or even more explicitly their recent Q3 earnings call with the CEO Rahim Suleman stating: "I also think that we will announce North America within a reasonable short order as well." One can then start doubling the EU EBITDA numbers and add even more on top to account for future expected growth in the EV market.
Hey PM- That remains to be seen/disclosed! Dr. Matheson did state that in addition to Scandium. NanoScale also has patented Titanium & Rare Earth ablities. PLUS- I think He also stated that Niocorp "COULD" collaborate with OTHER ENTITES for different processes! (At least I think he said something like that too!)
PM- I think there was a mention of possibly doing that. Jim would not directly respond yes or no! just
"NOT-YET"
NEW RESPONSES TO QUESTIONS from management & a Trail to a 2024 F.S. & FINANCE:
ON AUGUST 9th, 2023,~ Nebraska’s U.S. Senator Deb Fischer and Congressman Don Bacon Secure $10 Million in Federal Funding for U.S. Aluminum-Scandium Master Alloy Production:
https://www.niocorp.com/nebraskas-u-s-senator-deb-fischer-and-congressman-don-bacon-secure-10-million-in-federal-funding-for-u-s-aluminum-scandium-master-alloy-production/
CENTENNIAL, Colo. (August 9, 2023) – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (NASDAQ:NB) (TSX:NB) is praising U.S. Senator Deb Fischer (R-NE) and U.S. Rep. Don Bacon (R-NE) for securing legislation in both the House and Senate versions of the FY2024 National Defense Authorization Act regarding the strategic importance of scandium, as well as securing $10 million in federal funding to support commercial production of aluminum-scandium (“AlSc”) master alloy production in the U.S.
**“Through their positions in the Senate and House Armed Services Committees, Senator Fischer and Congressman Bacon are recognized as national leaders in U.S. defense policy in the Congress,” said Mark A. Smith, CEO and Executive Chairman of NioCorp. “They understand the strategic importance of establishing a domestic supply chain for scandium and aluminum-scandium alloys and their prospective importance to defense and essential civilian technologies.”**
“On behalf of the many thousands of Nebraskans who are stakeholders and supporters of the Elk Creek Critical Minerals Project in southeast Nebraska, I want to thank Senator Fischer and Congressman Bacon for championing the scandium and aluminum-scandium master alloy that we intend to produce in Nebraska,” he added. “Through the Elk Creek Project, once sufficient project funding is obtained, Nebraska may very well become a leading scandium producer and could be in a position to help the U.S. Armed Forces take full advantage of the revolutionary performance benefits that scandium can deliver to air-, land-, and sea-based systems.”
In addition to pursuing construction and eventual commercial operations of the Elk Creek Critical Minerals Project (the “Elk Creek Project”) once sufficient project funding is obtained, NioCorp is also currently engaged in a phased commercialization effort to establish production of AlSc master alloy in the U.S.
***"This funding was placed in the FY24 DoD Appropriations bill at the request of Nebraska Senator Deb Fischer, a member of the Senate Appropriations Committee, for the purpose of helping to fund NioCorp's effort to establish domestic commercial production of AlSc master alloy. There is always a process within the DoD to select appropriate projects with funding provided to it by Congress. In this case, however, the House and Senate Armed Services Committees provided additional guidance to DoD on this topic in their respective National Defense Authorization bills, including prioritizing domestic production of such materials.
***"Latent markets for scandium oxide and aluminum-scandium master alloy – both commercial and military -- are quite large, and we are working with a number of potential scandium consumers and related technology companies interested in scandium. We will make announcements in this area as developments require. In general, we don’t comment on detailed commercial business strategies except in the course of necessary announcements and/or public filings. "
***"There are multiple such engagements ongoing now for each product in our planned product offering. In general, we don’t comment on commercial business strategies except in the course of necessary announcements and/or public filings. "
****"YES"
****"YES"
******"YES"
********"There are multiple interested parties, but I cannot comment on who is interested in what."
*******"YES"
"It would take too long to wait for government funding from this new initiative specific to the costs of updating our Feasibility Study. We are working on raising funds to complete that work now."
"Fortunately, all of our proposed products are listed as eligible for the 10% production tax credit established in Section 45X Advanced Manufacturing Production Credit. The IRS is now looking to promulgate specific regulations on what can be included in the definition of production costs and on other issues, and we expect to submit comments to the IRS on some of these issues, either directly or in conjunction with comments that the National Mining Association (of which we are a member) will submit. As to quantifying the benefits of this federal tax credit, that will depend upon how the IRS chooses to implement the governing regulations, including what is allowed to be included in the scope of production costs. But, suffice to say, a 10% production tax credit for a project such as ours that has multiple critical minerals eligible for the credit could deliver very valuable and important economic benefits to the Project. "
"The 45X production tax credit is currently limited to those companies that produce the critical minerals identified as eligible for the tax credit(s). The IRS has proposed to disallow use of the credit by companies that take those critical minerals and convert them into other products. But, again, as with all federal tax law changes, one must wait for the final word on the implementing regulations to judge the value of these changes in the law. "
"Yes, as we were active in helping to shape the FY24 NDAA. "
"Yes, quite possibly. It depends upon product availability, pricing, and other factors at the time. "
"NO COMMENT!😜"
"YES"
"We periodically update our Investor Presentation when material developments or other news items make that appropriate."
No, but they are milestones that are relatively common to all debt financing processes of this scale.
Not yet, but we will certainly make announcements as those become appropriate.
Not yet, but we will certainly make announcements as those become appropriate.
2024 Metalysis Aluminium Scandium Product – Materials Specification
https://metalysis.com/wp-content/uploads/2024/01/Metalysis-Aluminium-Scandium-Product-Specification-2024.pdf
****Those companies wishing to utilize Scandium into semiconductors here in the U.S. can take full advantage of the NEW TAX INCENTIVES & CHIPS ACT by utilizing sourced "Critical Minerals" here in the U.S.
WOW up to - 36% SCANDIUM being used & how it is being utilized (5G, Semiconductors, 3D printing etc. !!!) I wonder IF NIOCORP is also collaborating with them, given they have a subsidiary in ENGLAND???
Even NanoScale Powders confirmed the fact Niocorp can/might be (or is allowed to be) in talks with other entities for not only Scandium but all the other goodies too! "I think!"
Form your own opinions & conclusions above:
Chico
Yes! TY -PM that is correct. My error in units while responding to your question or when I post it's early & need coffee or make errors! eom
1kg= 2.205 lbs so 1,000 kg x 2.205lbs. = 2,205 lbs (= one metric Tonne)
A U.S. ton = 2,000 lbs. there is a difference.
Either way the pricing for those New “Waste” Byproducts is darn Interesting 🤔I think!
Especially when Scott Honan tells us Niocorp has several customers that “might” want to buy it ALL! & Niocorp “May” not have to add them into the backfill but get paid for them$$$.
Plus the team is proving out at demonstration scale they can also produce those products at 99% purity +\_ in addition to the Sc,Nb,Ti & REEs… Thus utilizing everything the mine can produce.
I would think any entities looking at that would be very happy should all be proven into the Final 2024 F.S.
I can only speculate above, but I can understand why it is taking a bit longer to drop the F.S.
We are all waiting to see the final numbers and finance.
Quick post with some Highlights of yesterdays presentation....
NOTE: One Kilogram = 2.205 lbs. One Metric Ton = 2,205 KG x @ .75 =$1,687/MT
NIOCORP~ Attending the Mine-to-Magnet Workshop sponsored by Lockheed Martin on January 16-17, 2024....
Mine-to-Magnet Workshop
https://www.ndia.org/events/2024/1/16/mine-to-magnet
The Defense Industrial Base (DIB) supply chains for rare earth element (REE) magnets are in a transition phase. Supported by U.S. and partner nations, new sources of supply from raw materials to magnets are being developed around the globe. By statute, effective January 1, 2026, restrictions on REE magnets will follow the supply chain to the mining tier. Additionally, as early as June 2025, suppliers may be required to provide the full provenance of all REE magnets. This day and a half workshop will gather stakeholders from across the supply chain and U.S. Government to discuss challenges and opportunities in this critical supply chain. A partnership between Government and companies within the DIB is required to accomplish changes in REE supply chains. The provenance requirements for REE magnets will be a significant challenge, and new technologies and new approaches to organizing the market will be required to accomplish this requirement.
Recently proposed Defense Acquisition Regulation Supplemental (DFARS) sourcing requirements (DFARS Case 2021-D015) have set a deadline of January 1st, 2026 for the entire DIB REE magnet supply chains, from mining to magnet production, to be produced outside of the covered countries of the Peoples Republic of China (PRC), the Russian Federation, the Democratic People’s Republic of North Korea, and the Islamic Republic of Iran.
Additionally, Section 857 of James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (FY23 NDAA) (Public Law 117-263, signed December 23, 2022) contains provisions requiring disclosure by defense contractors of the sources of supply for rare earth elements (REE) and strategic and critical materials (SCM) within permanent magnets used in defense systems. These provenance sourcing requirements will go into effect as early as June 23, 2025. As the Department of Defense**[1], Department of Commerce[2], and Department of Energy[3]** and other government agencies have previously written, the PRC is the dominate global producer for all-tiers off the REE magnet supply chain. Therefore, the DIB migrating to REE supply chains entirely separate from the PRC is less than straightforward.
Mission
To prioritize and address supply chain and industrial challenges identified by PA&T and other stakeholders. Determines appropriate authorities to address critical shortfalls. Through prioritization, incentivization, and resource allocation, MCEIP supports domestic industry with direct engagements and investments.
Vision
Mitigate the challenges identified by PA&T and create long term, resilient, and secure defense industrial base supply chains to ensure a sustainable industrial base that can be protected by other Department authorities.
Thanks for posting Hetfield! Given the Synergies of Stellantis/DoD/Niocorp/Neo Performance Materials & Magnequench See the following link:
https://www.reddit.com/r/NIOCORP_MINE/comments/1937vm0/niocorp_rare_earth_magnets_outside_asia/
MARK SMITH~ during the Stellantis OFFTAKE TERM SHEET signing announcement qoute:
***“We are very pleased to announce that NioCorp and Stellantis have agreed to collaboratively develop Stellantis’ magnetic rare earth supply chain, including helping to identify a sintered rare earth permanent magnet manufacturer that provides additional geographic optionality to Stellantis, in support of their ambitious commitment to reach carbon net zero by 2038,”****
2024 is already a very busy time for the NioCorp team:
During the week of January 15, 2024, the NioCorp team will be presenting on the Elk Creek Project to some of the world's leading defense industry companies at an industry-only Mine-to-Magnets workshop in the Washington D.C. area, at the invitation of the National Defense Industries Association. We have a number of other meetings next week in D.C. as we continue to promote the Elk Creek Project and pursue project financing.
Our Annual General Meeting of Shareholders will be conducted in Denver on January 19, 2024. We will be hosting an investor update webcast on that day, and we'll issue the details shortly on how investors can tune in.
I will be presenting on the Elk Creek Project to institutional investment funds and other investors at TD Securities' 15th Annual Global Mining Conference in Toronto on January 23, 2024.
NioCorp will participate in the 2024 Motor, Drive Systems, and Magnetics Conference and Exhibition in Orlando, FL from February 13-15, 2024.
I will be presenting to our many European investors on April 20, 2024 at the SafeCapital Spring Meeting in Antwerp, Belgium.
NioCorp will be presenting to the 72rd Annual Conference of the Colorado Chapter of the Society for Mining, Metallurgy & Exploration ("SME"), to be held April 25-27, 2024.
TAKEAWAY: Coupled with what might be generated from potential greater production of both niobium and titanium per tonne of mined ore, the potential addition of rare earths could significantly shift the projected product revenue mix of the Elk Creek Project and more evenly distribute revenue across our planned products. That would provide additional risk mitigation to investors. All of this awaits final validation in an updated Feasibility Study and is subject to our ability to obtain sufficient project financing to move the Elk Creek Project to commercial production, but, again, I am anxious to release the details of our expanded planned product offering.
TAKEAWAY: While NioCorp has already contracted for sale up to 75% of our production of niobium in the form of ferroniobium to two customers over the first 10 years of production, and the remaining 25% is potentially available for sale as either ferroniobium or niobium oxide, NioCorp is now exploring the potential to secure offtake agreements for niobium oxide in addition to ferroniobium.
TAKEAWAY: We have now turned the demonstration plant’s attention to producing sample quantities of TiCl4 in response to multiple customer inquiries – all of whom have expressed potential interest in purchasing substantial quantities of the TiCl4 we plan to make.
TAKEAWAY: If EXIM agrees to provide up to $800 million in debt financing to the Elk Creek Project, we hope that such an anchor investment would rapidly leverage the remaining financing needed to advance the Elk Creek Project to commercial production.
TAKEAWAY: Work by both teams is continuing toward final agreements in these matters, and NioCorp looks forward to supporting Stellantis in its Carbon Net Zero by 2038 Initiative.
Norcal- My 2024 F.S. prediction- I would very much like to see Niocorp's share price much higher than $3 share!
I do like many of the boards HIGHER SHARE PRICE SPECULATIONS INDEED!!! =)
MY 2024 F.S. PREDICTION of Average Annual Gross Revenue Before OPEX
(ALL SPECULATION & GUESSING ON MY PART)
Sc2O3 - $355,368,421
Nb - $226,458,000 -(An 8% increase)
The pricing for Titanium Dioxide varies greatly. Given Niocorp only quoted .99 (2022 F.S.) I am using a price point of $200/mt of the quoted pricing below:
800,000,000kg / 2,204kg = 362,976 mt x $200 = $72,595,281
Titanium Concentrate (TiO2=46%) price historical Data
https://www.metal.com/Titanium/202007280003
What Niocorp intends to produce "TRICKLE" SPONGE GRADE & maybe other grades as well has a price point of @$1,100/mt +/- (Very interesting indeed) 362,976 mt x $1,000 = $362,976,000 Oh my! ....
But I'll Use:
(TiO2=46%) - $72,595,281
Viable Rare Earths T.B.D.
My guess will produce the following when compared to MP materials & 3 other U.S. projects (& This could be low!) :
600 tons per year Ny/Pr = 600,000kg x $173 = $103,800,000 (not far off Grunt's estimate!)
24 tons per year of Tr = 24,000kg x $2,383 = $57,320,000
120 tons per year of Dy = 120,000kg x $495 = $59,400,000
Total REE annual value prior to OPEX = $220,392,000 Million
~ & I THINK Niocorp's numbers for Dy & Tr might be a touch more! 30mt & 170mt respectively???~
Viable Rare Earths T.B.D. = $220,392,000
Average Annual Gross Revenue
Sc2O3 - $355,368,421 or 41%
Nb - $226,458,000 or 26%
TiO2=46% - $72,595,281 or 8%
Viable Rare Earths - $220,392,000 or 25%
Total Average Annual Gross Revenue = $874,813,702
IF YOU TAKE AWAY ALL THE SCANDIUM = $519,445,281
IF YOU ONLY PRICE THE SCANDIUM Half Value = $697,129,492
PLUS YOU HAVE BYPRODUCTS CaCO3 & MgCO3 - If you do some D.D. you might do a happy dance as these are not too shabby either & they will have ALOT OF IT! Probably close to TITANIUM Tonnage? (All Speculation & GUESSING ABOVE on my part of course!)
HENCE I STILL STAND BY MY CALL OF Niocorp "Could" now push earnings to $600 to $700Million/year
FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
I posted my $24/share price back in mid 2022.~(Hoping for an under-estimate & over-deliver option! lol) ~ My speculations of future share price are indeed very "conservative at $24 to $31 once in production"! Before the R.S. (@ 2027 IF they get Financed in 2024 & start)
I too can see/speculate much higher than $24/share once in production. What I would like to know is WHY did Niocorp finance/pay for the Edison Report using the OLD 2022 F.S. when an EARLY 2024 F.S. is just around the corner? With all the NEW & Improved Economics!???? I did send an email to Jim about that...
Waiting with many
Chico
Thanks BM! Appreciate your opinion and input.
What a beast Niocorp will be with mine to processing and production, off-take agreements etc. & future products!
Niocorp’s critical minerals will Plug & Play into both Govt. & Private Entities very easily. I’m eagerly awaiting to see what Dots connect now & an Early release of the 2024 F.S.
Also keeping an eye on-
Neo Performance Materials (Magnequench) which is rumored to be interested in building a U.S. magnet facility similar to the new one being currently built in Europe. (Niocorp U.S. REE oxides would fit right in!)
Stellantis - (mou) wants to lightweight big time! Scandium Aluminum battery boxes & so much more… not to mention the DoD is interested!
Screams a trifecta- Niocorp/Neo/Stellantis partnership to me… (pure speculation on my part!)
Plus the New Niobium oxide & Titanium TlCl4 “tickle”! That screams battery anode and Titanium Sponge to me. Can’t wait for offtake news on Niocorp’s last 25% of niobium production or who takes the Tickle?
Waiting a bit more…. With many. All up to Niocorp now to bring the Finance needed!
Thanks again for pointing that out! They are using the old 2022 f.s.
I’m sticking with $24 at production in 2027 ish! Lol 😝…. (Might be high & might be low… )
All Pending a finance of course…
Our timelines are not too far off either!
Thanks Grunt!
Thanks Tante.... Well researched & awesome report on the Elk Creek Project. Not sure I agree with his Low valuation of $7/share as I think $10 to $14 after the R.S. is fair imho... but Niocorp share are less than $3/share & I am not happy here at all with many!
Chico
Thanks for sharing your thoughts & opinions GRUNT! Your Speculations are very close to mine in many ways. As I have also posted here that Niocorp once in production should achieve $24/share & $600M earnings before OPEX once in production.
****I have (SPECULATED) THE FOLLOWING:
****(BUT RUN YOUR OWN NUMBERS & SEE WHAT YOU COME UP WITH!)
REE production “North of 750 tons per year!” per Scott Honan NioCorp Developments has a " very Large Rare Earth deposit" in Nebraska
https://www.proactiveinvestors.com/companies/news/982962/niocorp-developments-has-a-very-large-rare-earth-deposit-in-nebraska-982962.html
My SPECULATION ~ ****As these might be OLD PRICING VALUES****
TAKE A PEEK AT MY OLD D.D. for U.S. Advanced Jr. Miners. (A LOT HAS CHANGED & NIOCORP is standing tall imho!) POST # 88085
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170786541
NIOCORP will produce the following when compared to MP materials & 3 other U.S. projects (& This could be low! NIOCORP could produce 1000 TONS PER/YEAR given the metrics of the deposit IMHO!)
600 tons per year Ny/Pr = 600,000kg x $134 = $80,400,000
24 tons per year of Tb = 24,000kg x $1,800 = $43,200,000
120 tons per year of Dy = 120,000kg x $260 = $31,200,000
Total REE annual value prior to OPEX = $154,800,000 Million at 750 Tons/yr.
~ I THINK Niocorp's numbers for Dy & Tr might be a touch more! 30mt & 170mt respectively??? I wouldn't put it past SCOTT & the Team to be able to push output to 1,000 Tons per year!??T.B.D.~
That’s $150M plus +~ in additional earnings (Before Opex).
**NOTE: This doesn’t include increased recovery rates for the Nb & Ti $$$.
My NEW TITANIUM oxide TlCl4 "TICKLE" Ti pricing = 800,000 TONS x $90/TON = $72,000,000 Million/yr. & that may be low or high as numbers I see range from $14 to $300+
(*****NOTE: PLUS - CaCO3 & MgCO3 New Byproducts T.B.D. - PLUS SCANDIUM ......"Oh my!") *****
~Niocorp ~ My SPECULATION also has been: "Could" push earnings to $600 - $700 Million/year~
EVEN -Lord Ashbourne Director, Energy & Resources is seeing what we see GRUNT! LOL! 😉
https://www.edisongroup.com/research/niobium-husking/33109/?j=145057&sfmc_sub=20300871&l=716_HTML&u=4320136&mid=536001663&jb=1002
FORM YOUR OWN OPINIONS & RUN YOUR OWN NUMBERS!!!!
Grunt- Niocorp will need a good sum of change & CASH A.S.A.P. GIVEN:
SEE NIOCORP/JIM SIM'S Responses given on Jan. 3rd, 2024 - to relevant questions asked Dec. 18th, 2023
1) Could NioCorp benefit from a possible DoD partial 2024 Feasibility Study funding option for critical minerals production once the 2024 NDAA is signed?
RESPONSE:
"It would take too long to wait for government funding from this new initiative specific to the costs of updating our Feasibility Study. We are working on raising funds to complete that work now."
Dec. 2023 DoE/LPO MONTHLY APPLICATION ACTIVITY REPORT: (ADDING 12 NEW APPLICATIONS)
https://www.energy.gov/lpo/monthly-application-activity-report
Each month, the LPO Monthly Application Activity report updates:
The total number of current active applications that have been formally submitted to LPO (202)
The cumulative dollar amount of LPO financing requested in these active applications ($214.8 billion)
The 24-week rolling average of new applications per week as of the close of the previous month (2.3)
Technology sectors represented by applications
The report breaks down the cumulative loan amount requested of current applications into general technology sectors that are potentially eligible under the Title 17 Clean Energy Financing Program (Title 17, Sections 1703 and 1706), Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, Tribal Energy Financing Program, or Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA) Program:
*****Critical Materials (Extraction, Manufacturing, Mining, Processing, Recovery, Recycling)*****
(Don't Forget EXIM & STELLANTIS MAY "NOT BE" THE ONLY PLAYERS! AS OTHER ENTITES ARE INTERESTED TOO!)
FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
~Starting from this 2010 article- Potentially the Largest Global Resources of Niobium and Rare-Earth Elements
https://www.accesswire.com/362228/Potentially-the-Largest-Global-Resources-of-Niobium-and-Rare-Earth-Elements--Quantum-Featured-in-Mining-Journal
"Targeting Largest Global Resource of Rare-Earth Elements: Within the massive carbonatite there are several recorded occurrences of rare earth elements.
Molycorp did not put in enough drill holes to calculate a resource for REEs however their geologists used terms to describe the situation unfolding in terms of 'Tens of Millions and Megatonnes'.
Drill hole intercepts (non-NI 43-101) included 608ft of 1.18% lanthanides, 630 ft of 1.3%, 110ft of 2.09%, 460ft of 2.19%, 60ft of 3.89% -- Mining MarketWatch Journal notes these figures are massive and very good grades."
Last time Sharing my TRAIL of 2021 to Jan. 2024 Q. & A. Responses From management/Jim Sims based on relevant questions about the Elk Creek Project over several years. Do your own D.D. & Form your own opinions & conclusions.
Please see Jim's responses 6/17/2021-
(Jim...Private funding methods have been the primary target however, ... can you offer any comment to the following questions.)
a) Does/Can Niocorp qualify for a U.S. govt. (DOE/DOD) Loan, or Loan Guarantee as described above or similar ?
**RESPONSE
"Quite possibly, and we are in discussions with them on this now. However, the ability of this program to fund critical minerals projects will depend upon what the Democratic leadership in Congress enacts in its appropriations bills, as new funding is required to cover the credit subsidy cost of these loans. In recent years, the Congressional appropriations process has been a very politically contentious with little bipartisan agreement on much of anything. Some opposition in the Congress has already quietly developed to the Administration’s proposal to expand this program’s traditional funding focus to include critical minerals mines, which it has not funded in the past. Regardless, it is not likely that funding levels for the credit subsidies used by these programs will be finalized until late this year, or into next year.
I will add that our team is very familiar with the DOE Loan Guarantee program, as we navigated this process some years ago. It is a very slow process and requires more than a year (for some projects) to complete. It also costs a great deal of money and resources in which to engage in this process – those costs can easily grow into the 7 figures. We continue to examine the possibilities here, however."
"No decision has yet been made as to whether or not to submit a formal application to this program, as our primary financing focus has been on private sector sources."
"We are currently examining whether or not NioCorp’s Elk Creek Project would qualify for debt financing under the DOE/ LGP program.
Thx, Jim"
"If the higher purity niobium and titanium intermediates that L3 was able to produce at bench-scale are replicated and proven at demonstration scale, this would put us in a position to more easily move to other products beyond those outlined in our 2019 Feasibility Study. Niobium oxide for use in Li-Ion batteries is one possible example, although the production of that product would require additional processing steps beyond the higher-purity niobium intermediate that we discussed in last week’s news release. The company is not yet in a position to make a determination on whether or not, and when, to possibly expand our Niobium product offering. Higher grade TiO2 could expose us to additional markets where higher margins could be obtained. But, again, we are not in a position to speak to those possibilities in any detail yet."
"No, the processes we recently discussed occur in the earlier stages of the flowsheet, prior to any SX processing. We look forward to unveiling those details once these processes are verified at the demonstration plant level and once all associated work needed to complete an updated Feasibility Study is completed."
"It is a bit tricky to compare rare earth projects on an apples-to-apples basis, which is why we chose to limit the comparison of our Elk Creek resource to other REE projects in the U.S. There are several reasons why. For one, there are several different legal systems that determine how a project can measure and disclose aspects of its mineral resource and/or reserve. For public companies that are SEC-reporting entities (such as NioCorp), the SK1300 standard must be followed. For public companies regulated by Canadian authorities (also such as NioCorp), there is the National Instrument 43-101 disclosure standard. In Australia, there is the JORC standard. Each of these systems differ in what they allow, or don't allow, in terms of public disclosure of mineral resources and reserves. This can lead to 'apples-to-oranges' comparisons among projects. Another challenge in making such comparisons is the mineralization of an REE project. Some projects can show a high ore grade of rare earths, but the mineralization of the ore is something that is very difficult to process. For example, rare earth projects based on silicate-based minerals -- such as eudialyte -- are extraordinarily difficult to economically process in order to pull the REEs out and separate them. Others can contain relatively high levels of other impurities, such as naturally occurring radioactive elements, that can increase the cost of processing. A high ore grade doesn't mean a lot if the REE mineralization isn't amenable to processing that is technically or economically infeasible. This is why only a small handful of the more than 200 REE-containing minerals have ever been successfully processed economically at commercial scale. (The two primary REE-containing minerals in the Elk Creek Project, bastnasite and monazite, are among those that have been successfully processed for decades).Rare earth resources also differ in terms of the relative distribution of individual REEs in the host mineral. Some may have a relatively high ore grade but also have high percentages of less valuable REEs, such as cerium or lanthanum or yttrium. Others have lower ore grades but their REE mineralization is skewed more favorably to higher-value REEs, such as the magnetics neodymium, praseodymium, dysprosium, and terbium which are used in NdFeB magnets. There are several other REEs that are also magnetic, such as samarium, but those are of lower value. Another way that REE projects are compared to one another is through a so-called “basket price.” This is a particularly misleading way of valuing a rare earth play, in my opinion, because a project’s ‘basket price’ assigns a dollar value to the individual REEs in the ore, multiplying total tonnes of each REE by current market price for that REE, and combines them all together. This assumes that a project will produce each and every one of the REEs in the ‘basket’ (which is almost never the case). It also ignores the enormous CAPEX and OPEX required to produce 14 or so individual REEs.
There are yet other factors that help determine the viability of a potential rare earth project. ~Some projects are aimed at only producing rare earths. That means that they are relatively riskier investments than projects that are designed to produce multiple products in addition to rare earths.
~Some projects that are relatively large in size, have high ore grades, and are comprised of processable minerals -- but they are located in places that make mining and processing difficult or very expensive. I can think of a few projects that are touted as attractive deposits but are located near or above the Arctic Circle, which generally makes mining more costly.
~ Others are located in places where there local residents, such as First Nations communities in Canada or anywhere in Greenland, can readily block a project from moving to commercial operation. Still others are in countries where local governments are less stable than in the U.S., or are simply prone to corruption, which exposes the project to high country risk.
~Many REE projects are proposed by teams that have no experience in commercially processing REEs. They tend to gloss over that fact. Knowing what I know about the challenges of producing separated, high-purity REEs, this is one of the most important factors I consider when I look at REE projects. But that is just my opinion.
A more useful comparison strategy for investors is to look at rare earth projects through multiple lenses, such as those I describe above. It is not easy to do this if one doesn’t have a pretty deep understanding of the REE industry and the challenges of successfully making these strategic metals.
Having said all of that, it’s clear that our Elk Creek carbonatite is very large and similar in total contained rare earths to some of the largest known rare earth resources in the world, including the Araxa carbonatite in Brazil and the St. Honore carbonatite in Quebec."
Jim Sims
"The Senate Democrats’ “Inflation Reduction Act of 2022” legislation does indeed include several provisions that may be helpful to the Elk Creek Project. These include both production tax credits that would apply to all the critical minerals that we intend to produce, additional funding for the DPA Title III program aimed at supporting critical minerals production, and additional lending authority for the Title XVII program at DOE. If these provisions survive the amendment processes in the Senate and House, the Byrd Rule in the Senate, and can be passed by both Houses of Congress and is signed into law, it could have multiple positive impacts to the Project.
The bill text, as is presently available publicly, is attached. This bill will undoubtedly change when the Senate takes up the reconciliation process, as reconciliation does not limit amendments. There will be many amendments offered by both sides. Some of the bill’s provisions may not survive challenges on the Senate floor under what we call the “Byrd Rule.” Additionally, implementing regulations must be written by agencies of jurisdiction following the bill’s enactment into law to determine many of the details of various programs and funding initiatives. As always with government programs and processes, little happens quickly.
Apart from this bill’s proposed provisions, we have been working with several federal agencies regarding potential assistance to the Elk Creek Project, but those agencies do not allow us to disclose any details of those processes. "
All the best, Jim
"We are indeed in discussions with several U.S. federal agencies about potential financial assistance to the Project, but all have very strict rules about disclosure of those discussions and processes. I’m sorry but I cannot say anything more about this at present. "
"The reagent recycling tied to the Calcium and Magnesium removal, which we recently announced as part of our demonstration plant operations, is effectively a carbon sink and is expected to reduce the carbon footprint of the eventual operation*."*
"We hold the rights to any intellectual property developed and related to the Elk Creek process by virtue of our contractual relationships with L3 and other entities involved in the work. While our focus remains on using proven commercial technologies in the public domain, we will act to protect the parts of our process that may be novel. "
"We have made an internal estimate of the benefits of our planned products at a Scope 3 emissions level. However, the definition and applicability of Scope 3 emissions must eventually be determined by government regulators, and the SEC is examining many aspects of this issue now. At present and in general, carbon credits are created by mitigation measures taken at the Scope 1 emissions level, although there are several different approaches being examined across the U.S. As to DOE programs, I am not allowed to comment on that at this time."
"Yes. "
"Yes, multiple federal agencies, elected officials in the Congress, and the WH. "
RESPONSE: "There are several DOE programs, including the LGP program (Title XVII), that could potentially provide debt assistance to NioCorp."
RESPONSE: " As I have stated many times before, we are not allowed to confirm or deny whether we have a pending application with the DOE for this or other programs." -
"REE separations extraction of the individual elements will result in only about a 1% further reduction in the overall REE recovery rate we have already demonstrated for extracting the REEs from solution as a group, as SX it is a very efficient process and our folks have years of experience of doing this kind of REE separation and purification at commercial scale. Thus, it is safe to assume at this point that total REE recovery rate from ore to final separated product will be around 92%. This is about the same as our scandium recovery rate, which is not surprising given that Scandium behaves just like the other REEs in solution."
"NioCorp has not made a final determination on which REE products we will make, including tonnages, etc.. That determination can only be made in the context of publication of an updated Feasibility Study."
*******"This funding was placed in the FY24 DoD Appropriations bill at the request of Nebraska Senator Deb Fischer, a member of the Senate Appropriations Committee, for the purpose of helping to fund NioCorp's effort to establish domestic commercial production of AlSc master alloy. There is always a process within the DoD to select appropriate projects with funding provided to it by Congress. ****In this case, however, the House and Senate Armed Services Committees provided additional guidance to DoD on this topic in their respective National Defense Authorization bills, including prioritizing domestic production of such materials. "
***"Latent markets for scandium oxide and aluminum-scandium master alloy – both commercial and military -- are quite large, and we are working with a number of potential scandium consumers and related technology companies interested in scandium. We will make announcements in this area as developments require. In general, we don’t comment on detailed commercial business strategies except in the course of necessary announcements and/or public filings. "
"There are multiple such engagements ongoing now for each product in our planned product offering. In general, we don’t comment on commercial business strategies except in the course of necessary announcements and/or public filings. "
"YES"
"The Mineral Security Partnership is largely designed to encourage critical minerals projects in nations outside of the U.S. This is not an exclusive rule, but it clearly is the US State Department’s intent. These kinds of multilateral international processes tend to move relatively slowly given that several dozen various governmental bureaucracies across all participating nations get involved in these decisions. You can think of these multilateral efforts as operating like the United Nations … nothing really gets decided that quickly, and there will be an enormous amount of government oversight and regulation that will come to any project that secures funding through the Partnership.
****In contrast, we are a much faster track in seeking U.S. government assistance by working directly with the Export-Import Bank and other U.S. federal agencies. Not that anything moves as quickly as we would like when it comes to securing US government assistance for large projects like ours …" ******
****"YES"
******"YES"
********"There are multiple interested parties, but I cannot comment on who is interested in what."
*******"YES"
"It would take too long to wait for government funding from this new initiative specific to the costs of updating our Feasibility Study. We are working on raising funds to complete that work now."
"Fortunately, all of our proposed products are listed as eligible for the 10% production tax credit established in Section 45X Advanced Manufacturing Production Credit.
****The IRS is now looking to promulgate specific regulations on what can be included in the definition of production costs and on other issues, and we expect to submit comments to the IRS on some of these issues, either directly or in conjunction with comments that the National Mining Association (of which we are a member) will submit.
As to quantifying the benefits of this federal tax credit, that will depend upon how the IRS chooses to implement the governing regulations, including what is allowed to be included in the scope of production costs.
But, suffice to say, a 10% production tax credit for a project such as ours that has multiple critical minerals eligible for the credit could deliver very valuable and important economic benefits to the Project. "
"The 45X production tax credit is currently limited to those companies that produce the critical minerals identified as eligible for the tax credit(s). The IRS has proposed to disallow use of the credit by companies that take those critical minerals and convert them into other products.
But, again, as with all federal tax law changes, one must wait for the final word on the implementing regulations to judge the value of these changes in the law. "
*********************"Yes, as we were active in helping to shape the FY24 NDAA. "************************
"Yes, quite possibly. It depends upon product availability, pricing, and other factors at the time. "
"YES"
"We periodically update our Investor Presentation when material developments or other news items make that appropriate."
I think they will be using many of the same players mentioned in the 2022 F.S. update AO…
This should be the FINAL, last…..F.S. & I speculate they are Close!
lol
Hey AO/ Advocate! Happy to share DD & appreciation to seeing both sides presented fairly without going overboard…
I thought the DoD was a possibility (via recent NDAA) however Jim did state they were not going that route but pursuing other options.
I would speculate that EXIM, Stellantis or other entities such as the DoE/LPO , DoD etc… are “interested still” & Jim has confirmed that once again in mid Dec. 2023
I posted many of the responses many times and think the responses speak for themselves…
I also posted Niocorp stating the had completed all Hydrological drilling results & are COMPLETED! & being compiled & all results along with Metallurgical results into the 2024 F.S. again Jim confirmed that end of Nov. 2023
As for the cost or the completion timeline. “We can only speculate!”
My guess is Niocorp needs funds and a 10 a $25 million anchor investment would go a Long way.
How they go about securing the next tranche will be of interest to all and should tell the story…
Form you own opinions and conclusions as always!!!
I am waiting till after the AGM to see what material news is announced… You or others are more than welcome to ask until then.
Waiting with many…. “I think 🤔 they can do this still…”
Chico
Very Welcome Dougnil! It still appears Niocorp is executing on their plan. Jim did state the Govt. doesn't work as fast as we would like at times, but the TAX incentives being proposed, & the 2024 NDAA being signed into law (which has many GOOD things for Critical Minerals!) Will/Could only help to benefit the Elk Creek Project should a Finance be completed. EXIM BANK, STELLANTIS, & other Entities (both GOVT. & PRIVATE ENITIES) are still interested.
Responses Jan. 3rd 2024 -Jim did state :
...".a 10% production tax credit for a project such as ours that has multiple critical minerals eligible for the credit could deliver very valuable and important economic benefits to the Project. "
"Yes, as we were active in helping to shape the FY24 NDAA. "
"Yes, quite possibly. It depends upon product availability, pricing, and other factors at the time. "
********"There are multiple interested parties, but I cannot comment on who is interested in what."
*******"YES"
NIOCORP RESPONDS Jan. 3rd, 2024 to "NEW" recent questions based on the 2024 NDAA & Proposed IRS tax credits.
FOR CONTEXT:
December 21, 2023 ~Proposed regulations on advanced manufacturing credits clarify IRC Section 45X provisions ~
https://taxnews.ey.com/news/2023-2116-proposed-regulations-on-advanced-manufacturing-credits-clarify-irc-section-45x-provisions
Proposed~ Section 45X Advanced Manufacturing Production Credit :
*2023-27498.pdf (govinfo.gov)
**NOTE: ~THE 2023 & 2024 National Defense Acts Call out NIOBIUM & TITANIUM & SCANDIUM & the need to establish a U.S. Industrial Base for the Supply & Processing of ALL!
(2023 N.D.A. See pages #246 -#256)
https://docs.house.gov/billsthisweek/20220711/CRPT-117hrpt397.pdf
H.R. 2670—NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2024
https://docs.house.gov/billsthisweek/20220711/CRPT-117hrpt397.pdf
SEE NIOCORP/JIM SIM'S Responses given on Jan. 3rd, 2024 - to relevant questions asked Dec. 18th, 2023
1) Could Niocorp benefit from a possible DoD partial 2024 Feasibility Study funding option for critical minerals production once the 2024 NDAA is signed?
RESPONSE:
It would take too long to wait for government funding from this new initiative specific to the costs of updating our Feasibility Study. We are working on raising funds to complete that work now
Fortunately, all of our proposed products are listed as eligible for the 10% production tax credit established in Section 45X Advanced Manufacturing Production Credit. The IRS is now looking to promulgate specific regulations on what can be included in the definition of production costs and on other issues, and we expect to submit comments to the IRS on some of these issues, either directly or in conjunction with comments that the National Mining Association (of which we are a member) will submit. As to quantifying the benefits of this federal tax credit, that will depend upon how the IRS chooses to implement the governing regulations, including what is allowed to be included in the scope of production costs. But, suffice to say, a 10% production tax credit for a project such as ours that has multiple critical minerals eligible for the credit could deliver very valuable and important economic benefits to the Project.
The 45X production tax credit is currently limited to those companies that produce the critical minerals identified as eligible for the tax credit(s). The IRS has proposed to disallow use of the credit by companies that take those critical minerals and convert them into other products. But, again, as with all federal tax law changes, one must wait for the final word on the implementing regulations to judge the value of these changes in the law.
Yes, as we were active in helping to shape the FY24 NDAA.[/b]
Yes, quite possibly. It depends upon product availability, pricing, and other factors at the time.
"NO COMMENT!😜"
Yes.
We periodically update our Investor Presentation when material developments or other news items make that appropriate.
"The Mineral Security Partnership is largely designed to encourage critical minerals projects in nations outside of the U.S. This is not an exclusive rule, but it clearly is the US State Department’s intent. These kinds of multilateral international processes tend to move relatively slowly given that several dozen various governmental bureaucracies across all participating nations get involved in these decisions. You can think of these multilateral efforts as operating like the United Nations … nothing really gets decided that quickly, and there will be an enormous amount of government oversight and regulation that will come to any project that secures funding through the Partnership.
****In contrast, we are a much faster track in seeking U.S. government assistance by working directly with the Export-Import Bank and other U.S. federal agencies. Not that anything moves as quickly as we would like when it comes to securing US government assistance for large projects like ours …" ******
****"YES"
******"YES"
********"There are multiple interested parties, but I cannot comment on who is interested in what."
*******"YES"
"There is no expiration covering negotiations that are ongoing between NioCorp and Stellantis. The only element of our current agreement with Stellantis that expired was a 60-day exclusivity period during which NioCorp agreed not to execute a rare earth offtake agreement with any party other than Stellantis. Both parties agreed to allow that exclusivity period to expire given the positive progress that was being made toward final agreements. Current negotiations are proceeding well and, while nothing is certain until final agreements are executed, we look forward to achieving both a rare earth offtake contract as well as agreements related to a significant equity investment in NioCorp by Stellantis."
Thx,
Jim Sims Chief Communications Officer NioCorp Developments Ltd.