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Great post! The only time management is friendly to the retail investors is when they need something, like voting for the fu**ing SPAC! Afterwards they crawl back to their offices and watch the results. The retail investors are done being manipulated by management. They will play hell to gain the trust that they have lost. I can’t wait for the next public forum they have.
Wonder how many of them sold after the meeting in Europe if they had prior knowledge of the impending collapse of the share price? If we had known, we could have sold and bought back and had 3x the amount of shares today.
Yes, It was about a 2 1/2 week period at the end of November through the first week of December, tax selling season. Where do you think this year’s share price will land during that period? It’s only August now.
One small dip in December 6 years ago during tax selling put us about where we are. This drop has been consistent throughout the entire year. Tax selling will drop this into the $1-2 (10-20cents pre split) range if management continues with this complacency.
We are at a nine year low. Let that sink in.
Unfortunately, Niocorp management failed to to DD when they decided that they would merge with GX in a horrible SPAC deal. I find it hard to understand how they failed to have terms of a minimum percentage of redemption from the deal or it would be void. I am even more perplexed as to why Dean Kehler and Michael Masseli were appointed to the BOD after such a failure to procure capital for the project! No one seems interested in addressing this, but it is a question Mark needs to and will have to address at the next AGM or town hall.
Looking at your past posts, you’ve been right about a lot of things. This management team is clearly incompetent. I do believe the project is financeable and will be an operational mine, but I don’t see it with current Niocorp management. The minerals are in high demand and continue to grow in demand. Larger mining companies will develop this shovel ready project.
Based on Mark’s poor performance and business record, he is not A list. He’s failed to bring IBC Advanced Alloys into profitability despite his total control over the company. He’s managed to wipe out hundreds of millions in market cap of Niocorp and failed to ensure stockholders were protected against the failed SPAC deal. There should have been a clause that if Niocorp did not net at least 100 million from the deal that it would have been voided. Instead, it cost Niocorp on the deal and we are down more than $200 million market cap from our yearly high. That is a testament to Mark’s performance.
Mark claimed years ago that there was competitive tension for financing. The SPAC deal made Mark a complete moron in investor’s eyes and clearly the institutional investors do not think much of Mark’s availabilities or there would be buying and competitive tension. He is a failed CEO
I don’t support LCP’s position that the mine has never been financeable. I have come to terms that Mark is an awful businessman. I had a certain amount of respect for you, but you’re clearly a follower of Always Wrong. How’s that working out for you?!?!
Oh yes, Always Wrong preached that over and over. He makes a fool of himself and still praises management for their constant failures. I keep thinking that management has to do something right at some point.
I may have believed that until the recent SPAC deal. This deal has caused more than $200 in market cap to vaporize and resulted in a net loss to investors. Mark is clearly not the A list mining CEO that was sold to us. There is no excuse for a well seasoned businessman to have failed so miserably on that deal.
I know of some investors who have sadly passed waiting for this mine to start. The way this is going now, there will probably be more passing away soon. I can’t believe how badly management missed it on this SPAC deal. Mark needs to answer for the appointment of Dean Kehler and Michael Maselli from GX. The AGM will be ugly if they continue on this path.
You have to love the constant delay tactics. The share price is sitting at $3.80, 38 cents pre split. It’s a damn shame to see how poorly management has handled things. There’s a lot of hard working people who believed what Mark Smith has been preaching for nearly a decade. To see the stock at a near decade low is inexcusable. Has anyone been to the office in Centennial lately?
Pretty sad that we continue loose millions (nearly $3,000,000 today) in market cap daily and management remains silent. They certainly are not helping to maintain a good reputation by hiding from investors when we are getting our arses handed to us after they engineered this disastrous SPAC.
You might want to take a second look.
$7,500,000 isn’t squat. Here is some reality for you. Niocorp market cap has lost over $250,000,000 in market cap from the 52 week high. No, that is not disinformation, that is a fact!
They’re a lot of things that are scaring off new investors and it’s not the message board. Institutional investors don’t give a crap about some message board that retail investors use to vent their hopes, dreams or concerns. They care about:
Dropping 70% from our 52 week high
Having all institutional investors except for the sponsors drop out of the SPAC deal
Yorkville
Pilot plant going into 2nd year
No timeline on the 3rd FS
No significant financing commitments, etc., etc
Put the bottle down.
They knew the magnetic REEs were there decades ago and they also knew the concentrations. They’ve spent nearly 2 years now analyzing those samples! They have not done any core drilling of the resource since 2014. The only other drilling they have done since then was merely geotechnical
https://www.prnewswire.com/news-releases/niocorp-to-analyze-additional-elk-creek-drill-core-as-it-looks-to-further-enhance-upgrade-and-add-rare-earth-data-to-the-elk-creek-projects-mineral-resource-301372607.html
I’m going to guess the majority of people there are bullish on the project and bearish on management. I would imagine there will be some local journalists digging into things before too long if the company continues on the path it is has taken.
Mark has praised the local community numerous times for the support the company has received. I’m guessing his recent business decisions along with the resulting plummeting of the share price have eroded the support and confidence in his abilities.
To be honest, he didn’t have a very good track record of success coming into the project, but I thought this would be the pinnacle project of his career. It still could be, but his recent business dealings are not helping his cause. You can’t convince people to reduce their number of shares 1 for 10 for the good of the company and have the shares slide to 10 year lows without damage to your reputation. The cheerleaders can say what they want, but the majority of investors are not pleased with Mark.
Seems more like a Falling Down kinda vibe this past week.
We are at the equivalent of .38. Nearly a decade of support for Mark from the retail investors who believed in him. Here we are where we all started and I’m sure there are several who are below where we started.
Always Wrong and Walnut can say what they want, but this is on Mark. He is the one that manipulated investors to allow this this plague from WallStreet into our company. I hope he has a cure for it.
Very sad situation indeed. Everyone had faith in Mark and the fact he’s brought this all on us with these horrible business decisions is disheartening.
Since your handle is NavyHusker, I assume you’re in Nebraska. What is the vibe from investors or locals there?
Agreed, I wish I had been that smart. I’m well in the red with Niocorp as well as many others I know. It would be nice to know why Ms. Fenga left the Niocorp board. She wasn’t on the board long and she was clearly the only one on the board outside of Niocorp that made sense to be on the BOD. She had a mining and metallurgical manufacturing background. Mark then appoints two of the GX scoundrels to the BOD who have a shady history in the financial world and have never been involved with mining.
We are seeing the results of Mark’s decisions. I find it hard to believe that Mark would not have done proper due diligence on who he would be doing business with and who he was bringing into the BOD. This is where I question Mark’s integrity.
I wish I had listened to my wife and sold after the reverse split was announced. Where do you feel this will bottom out?
I’m concerned that the same thing will happen with Niocorp that has happened with Celularity, which the last SPAC deal that Dean Kehler engineered with Yorkville. The stock went from over $12 May of 2022 and now trading at .32 today. The common denominator is GX, Dean Kehler and Yorkville.
I don’t believe Mark Smith is a stupid man. I do not know how he could have been ignorant of how this would go. It’s very disheartening because Mark Smith appeared to be a honorable man.
https://celularity.com/celularity-enters-into-150-million-pre-paid-advance-agreement-with-yorkville/
Ms. Beethe is a steward of the community and she laid out a warning to everyone. We should have listened to her.
Have any locals contacted their local media resources regarding the post SPAC and the abject failure that has resulted? The company was all about promoting the SPAC and having multiple town halls to promote it to local media back in November. I’m sure a good journalist would be interested in a follow story.
The share prices and market cap is now trading at a price where it would need to increase 220% to reach our 52 week high!
If there is anyone praising Mark Smith and Niocorp management for their recent business decisions with GX and Yorkville, please let us know why.
Good, then Mark Smith should be announcing a town hall for the investors there soon then. I bet local investors are all excited for that. The last time he was there he was there it was to pump what a great deal the SPAC was going to be for the company.
Everyone can see the result of that! I don’t believe the Nebraska investors are too keen on being manipulated into voting for a deal that net them zero proceeds and actually cost them money. The shares held are 1/10th of what they had and those shares are worth less than 50% of what they were before the merger. Not to mention the market cap has declined more than $120 million.
If any investor from Nebraska is willing to come forward in support of this, please come forward and explain why you feel good about what has happened since Mark pushed the SPAC deal.
You’re clearly new here Haus. Niocorp has been saying that they were going to break ground for nearly a decade! Many people have passed away waiting for this to happen. I’ve known some of those departed personally. I do hope that you, I and everyone else reading this gets to see the groundbreaking, but the recent business decisions by management are not encouraging.
https://nebraskapublicmedia.org/en/news/news-articles/elk-creek-niobium-mine-could-be-operational-by-late-2016/
Must be some pretty negative vibes coming from the Niocorp office in Centennial, CO to plummet the stock then!!!
Interesting, was he actually in the office? I’m hearing that it looks like the entire office has been cleared out. Guess there’s glass windows and you can look into the office space. Asked him to take some pictures next time he is around there. It would not be a good look to locals if that is truly the case.
I really do hope they get this mine financed and sold to the highest bidder. I don’t think the current team, less Scott, should be involved in the project. Mark really lost trust with many investors, except Always Wrong and Walnut.
Does anyone here live close to Tecumseh know if anyone from Niocorp has been in the office there since they were there for the November town hall last year? I received word from a pretty reliable source today that no one in the area has seen any representation in the office there since they manipulated everyone into voting for the SPAC. Local investors are not feeling much love from Mark and his crew. If anyone knows otherwise, please advise us.
You’re clearly not a financial advisor. Reality check, we have lost over a $120 million in market cap since the SPAC and getting on NASDAQ!!!! Wake up!!!
Time for another meeting. Mark and Dean failed to get the message! Convertible debt financing was done after this meeting…..SMFH!
That’s so awesome! You spent hundreds of hours and lord knows how much money…..and Mark made all that time and money spent completely evaporate with his poor business decisions. Stop berating and insulting investors. Hold those responsible for making the horrid business deals accountable. Save your vitriol where it belongs, in Centennial, CO.
You should go onto the Celularity (Dean Kehler’s clusterf**k) and IBC Advanced Alloys (another one of Mark Smith’s poorly managed companies) boards and give them that encouragement. For every seller, there is a buyer…..LMAO. Are you a financial advisor?….LOL
Makes me laugh how you’re constantly touting the next “big thing” that will propel the stock. Last one was the SPAC deal, then NASDAQ and now Stellantis, EXIM. The deals with Traxys, ThyssenKrupp, and CMC Cometals did not keep the share price from plummeting. The share price has plummeted from management’s poor business decisions. Stand up and start holding those accountable and stop berating other investors!
Good, then you don’t disagree with Duke. I don’t care if you disagree with me or not, but at some point, you’ll hold management accountable for their horrible business dealings.
Wake up and start holding management accountable for their horrific decisions! Stop berating investors who are actually taking action for the sake of their investment and support of the company all these years. Stop hiding behind a keyboard and stop defending the people responsible for the decline of your investment!
I don’t follow anyone. Are you going to be like Always Wrong and dispute the black and white facts?!?! It’s not an opinion, it’s a fact. Have a great day!