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Yorkville financing deal has a floor of $2.14. So unless amended lower that source of funding is close to going away. ECRC shares held by non insiders don’t have a floor of course but I think their blended cost is about $1.70.
There is a bright side. Those NY slicksters don’t look like their going to get a huge easy win.
What track record? I’ve been retired quite comfortably for 8 years. The only track record is that i’ve called nb as a turd. Correctly.
This deal is so utterly screwed. Just a useful cart to provide the whole Molycorp crew fat cheques as long as long as they can. You fools are enabelers.
Good luck. Just don’t take anything Walter says as anything close to useful, intelligent advice. It is anything but. Just ego.
Here is a bit of information from my 30 years in the biz (I’ve been retired for 8 years).
1) short sellers do much better due dilligence than longs. I know they are hated but generally that is true.
2) your big bet on those warrants are just stupid. You heirs will say: what was he thinking? Hopefully it’s just a rounding point in your total wealth.
“Dec 11 (Reuters) - Rare earth producer Molycorp Inc said Chief Executive Mark Smith has quit, a month after the company revealed that it was under investigation by U.S. securities regulators over the accuracy of its public disclosures.
Shares of the company fell 8 percent to $10.40 in extended trading on Tuesday. The stock has more than halved in the past year.
Smith became the CEO of Molycorp in October 2008, overseeing its C$1.2 billion acquisition of Neo Material Technologies and the ramp up of its production capacity.
Prices of rare earth elements, however, have tumbled because new supplies have hit the market and top producer China has raised exports.
As Molycorp transitions from a development-stage company to an operational one, a different style of management was needed to run it, spokesman Jim Sims said.
He said there was no connection between Smith's exit and the probe by the Securities and Exchange Commission.”
Nice bit of spin there by JS. And as for Walter’s fanboy for ceo’s that never give up. Lol. He cashed up big time by selling and handed off a flaming bag of poo. Accuracy of public disclosures! Sounds familiar?
Can you just for a moment consider how much better off you would have been by listening to fact finders instead of cultists.
Too bad the project turned out to be a turd. Just a ton of spin. Vertical integration. Yada yada. Just can’t put lipstick on a pig forever. Only as long as the Euro’s keep funding mgmt paychecks this stays alive. There is that pesky $10mm capital deficiency to deal with. Raising $1.2b or $1.6b to make a shitty money losing mine just is not in the cards. IMHO. But then again, congress did pay for the bridge to nowhere. EXIM needs more than putz’s bs. Read more. There is no serious financing on any horizon. The jig is up.
“very predictable and pathetic....”
Describes your portfolio at this point.
Save your time. Directors of micro juniors are just there for options and are otherwise lapdogs.
You are so utterly uninformed. QRE was nothing except a vehicle to do a pump and dump into a very very hot REE market. Dickie with his Zimtu Capital pals had a shell. They sent Zimtu young bucks to knock on doors in Nebraska to secure a land package. They popped a few holes in there and pumped hard. They had one good run so it worked out for the shell boys. Dickie had his wife and daughter on the payroll. Shawn Westcott was ir. The REE hot market faded. The company was pretty much broke and had little hope. Then, I think SW got MS interested. That saved the co. MS was showing me magnified slides etc of the Niobium in the mineralization. Showing old Molycorp assays. Etc. Walter was already in and MS was a wet dream. MS started buying from the market and cleaned it up to about $0.25. I can’t remember the sequence of mgmt changes but SW was out (he knew too much). PD was out. Thx PD and QRE for the many sessions at Joey’s Wine Bar.
OK skippy. You win. I was there meeting often with those boys around then but whatever you say. Hope that shuts you up. You win! Winner!
Let’s look at this:
1) QRE was made to chase the ree’s from Molycorp’s early 70’s drilling drilling.
2) MS ran Molycorp much later (and bankrupted it) so he could be a REE expert yet:
3) Once he became QRE ceo he changed the name to Niocorp. And pushed Niobium.
So you think those REE values are the cat’s ass? He ignored them until every other effort failed. He got years of bloated salaries for himself and his old bankrupted Molycorp team in the meantime tho. And continues to do so.
One real tell this year was MS using Yorkville to get his $4,000,000 plus plus off the table. Using toxic to cash out was DING DING DING. RED ALERT. Now he has to fly to Europe and meet the peeps who made it possible.
Wrong. I guessed it would be $1.6b. With no ree processing the 2019 costs were $1.2b. Add 5 years of inflation and REE processing what do you think it will be? Oh wait, breakthroughs in cost cutting processes come into play. Lol. Magical thinking. Thank you for pointing out that noone knows. My point is that to receive serious financing is that you need the FS. And it has to be credible and robust. And it has to assume that a magical 100t pee year sc market emerges out of the starting gate with fantasy pricing just as Rio Tinto is ramping up low cost production. Just stupid.
Ok. That was “imo”. You have yours, I have mine.
I have not traded the stock since I pushed my whole position out on the first run to over $1.50 a decade ago. It was a big win. The FACT was that the story changed upon the release of FS 1. If you can’t change your mind when new facts are available then you better be lucky, because you’re not smart. The only reason I’m here is amusment and facination at the blind madness of the crowd and their leader (who’s very first jr resource investment was this company). Just an ill informed useful stooge for mgmt.
What about that $10,000,000 working capital deficit that the recent 10Q showed? Who’s not getting paid? I guess Yorkville is going rear it’s ugly head anytime now. Who could be owed? Consultants working on a fs? Nowonder there is no sight of it. No robust fs is no EXIM (of size) imo. You’re, imo, going to see a very beat up carrot from being kicked down the road so many times. Mark must be very much looking forward to his upcoming first-class flight and fancy Euro hotels. Too bad about having to go to that pesky paid for dog and pony show while having to face those who have been misled repeatedly and have had hundreds of millions of dollars of their wealth evaporate.
That is mighty rich coming from you. You are quick and loud in attacking those stating what they believe to be well researched facts that are counter to your narriative. Perhaps examining and actually thinking about them may have been useful.
Well that didn’t age well. Down 50%.
Well besides being a lousy ceo he’s sneaky. He did not make things clear prior to the vote and the price of that is being paid now.:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173396497
Their removal would launch a tsunami of selling. They would no longer be insiders and the optics of their selling would no longer impede them. Just like Dickie and wife, they got very very lucky. MS did the pump. All PD had to do is the dump.
I did not realize there was a $50,000,000 cash requirement to complete the spac. Yorkville’s convertible debt facility satisfied it apparently. Explains who intro’d Yorkville to the deal.
“The SPAC showed in an earlier 8-K filing that it saw about 95% of shares redeemed at the March 15 shareholder vote, reducing GX II’s trust to about $15.3 million. But, NioCorp expects to have access to up to $71.9 million in total proceeds through a pair of new Yorkville financing facilities.
These are to come in the form of about $15.4 million in convertible notes from Yorkville and a standby equity facility worth up to $61.6 million over the next three years. Despite the deal’s $20.3 million in transaction costs, this is enough to cover its $50 million minimum cash condition.”
https://www.spacinsider.com/news/nick-clayton/gx-acquisition-ii-gxii-shareholders-approve-niocorp-deal
That is wishful thinking and nothing more. How many times can you relay mgmt propoganda incorrectly before you understand that you are being used in a confidence game?
Have they? Where is the credible FS that surely EXIM will want to see before parting with cash. In fact NB has to finance EXIM’s research in this area before anything happens. Without a current FS what is there to study? Also, they just might wonder who is coming up with the other $1/2 billion before pulling the trigger. Wouldn’t you? You need a full, complete, financing package before getting any serious cash. Getting $10mm would cover the current capital deficit and nothing more. It’s so just utterly shitty at this point. I’m sure they’ll wiggle up some cash enough to cover bloated salaries for years to come. Euro’s are hostages at this point. If they don’t keep supporting then the dream is dead.
I am NOT expecting to see insider selling.
I would not be surprised if 2.8mm ish shares held by non-insiders sell right out;
AJA PARTNERS LLC,
CORBIN ERISA OPPORTUNITY FUND, LTD,
ACM ALAMEDA SPECIAL PURPOSE INVESTMENT FUND II L
CORBIN OPPORTUNITY FUND, L.P
ATALAYA SPECIAL PURPOSE INVESTMENT FUND II L.P.
Although that amount will be added to the share count some are owned by insiders that would have report sales. Not expecting that unless you see a director resignation
“Only” about 2.8mm shares are what I expect to be the issue. Also, you may be seeing the impact already because I’m sure they have the experience and ability to “pre-sell” some of their holdings. At least at lower prices less actual dollar value of buying will be needed to clean them out. But what about the $10mm capital deficiency? That needs some addressing too.
The part you miss is that it is just a shitty project. You have that understanding moment to cross. It is just an piece of crap, unfinancible hunk of dirt in the land that has so many crazy challenges that makes this a zero.
Ya, They just don’t see facts. They must have a butt lube budjet tho.
OMG. A database for stop loss sales? You are so incredibly ignorant in capital markets. It’s dangerous for others who might actually think you have a clue. Options open interest? Look it up. Short interest? Look it up. Borrow rates? Look it up.
Costs on fs 1. Utterly wrong. But I guess the facts revealed on fs 1 started the whole add an element gong show that continues to this day. There is a reason Quantum Rare Earths swapped names to Niocorp. The REE are crap. Then the first fs proved the Niobium is crap. All we got here is a crappy high cost deposit. Water issues. Deep underground. 1/10th the grade of competitors. Just a shitty deal.
We’ve met several times. And the string of bs started at day one. Seriously total noted and written down utter bs. It has never stopped. I’ve got his cell number but prefer to avoid subjecting myself to a premium bs’er. You would not believe his early claims. Total, utter, bullshit.
Why don’t you?
markalansmith@gmail.com
msmith@niocorp.com
You will miss out on the tell about his lies on email though. The tell is that his lips are moving.
That was a decent post few listened to.
Missed one. Health reasons.
Maybe some are getting ill seeing NB in their portfolio.
Sell it, forget about it. Block the Belgian pumper from contacting them.
Relief! Been there, done that.
Why down?
So many possibilities.
1) some investors actually read the 10q and see how dire NB’s finances are and how far they have go to get things rolling. Doubt that, never did before.
2) some the ECRC corp guys don’t want to wait until after March 17th. and are pre-selling. Last one out is a rotten egg.
3) just another technical breakdown of a support level scaring out some shares.
4) the algo traders can sniff out an imbalance and are amplifying it.
I’m leaning to 2 and 4. The GXII/ECRC guys were pitched hard by MS and his timelines. Now they look back and see a couple things. None of the promises were kept. So why trust him? They also see a ceo stupid enough to get suckered into a disasterous spac deal. Why stay invested with that guy? They are not emotionally invested. They likely sold their $15,000,000 worth immediatly. Lost say $5,000,000 there. So they can be made whole at about $1.70 or make money above there. JMHO
Not accurate. This is:
4,565,808 class b shares are vested and able to be exchanged on Mar 17 2024
(Of those about 2,800,000 do not belong to insiders but were gifted as an inducement for various funds to not redeem - so the spac could close).
3,391,596 class b shares are earnout shares where the stock price must reach a certain price to be exchangeable.
Half of these earnourt shares are exchangeable if NB hits $12 for 20 days and the other half if NB hits $15
Today in the markets:
Name. Price Change
Nb in Cdn $3.95 -$0.14
Nb on Naz $2.94 -$0.05
And we are just one month and two days away from the tsunami of virtually free shares to come into play.
Has the $4 cdn and $3 us support levels failed? Like the stand at $5 us. Next stop $2 us.
Pages 21 & 22 are pretty shocking.
Perfect. Lose more and ignore truth tellers. The next month is going to be ugly, very ugly.
“You should ask Jim Sims your other questions.”
Oh that is the biggest belly laugh I’ve had in a long time. If you are relying on that bs’ers spewage you are in deep trouble.