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Nebraskan;
The number of individuals who previously worked with Molycorp or had relationships with Mark Smith is interesting. It is probably a good thing for Niocorp to have those contacts. It will be intresting to see how it plays out in funding!
A slide on the issue of the "Deep state": Here is the actual Eisenhauer "military industrial complex" quote. His concern was also that a "Technological elite" would use their postion to attempt to dictate policy and disbursement of government resources. (Note that Educators usually omit this part and focus on the M. I. Complex part!)
"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist...we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientific-technological elite...As we peer into society’s future, we - you and I, and our government - must avoid the impulse to live only for today, plundering for our own ease and convenience the precious resources of tomorrow."
Eisenhower farewell speech
(and)... (Beware the ) “domination of the nation’s scholars by Federal employment, project allocations, and the power of money.” Eisenhower
Read more at: http://www.nationalreview.com/article/420743/truth-safeguards-liberty
Will Niocorp scandium be stockpiled for defense purposes? I would support this as a legitimate purpose as I suspect most on this board would.
(Ok, NOW I am off to do things!)
P.M. Lndmrk, Boilermkr, all
Thinking out loud.
From the Carlyle group "US Buyout" (Canada not on list)
The Carlyle U.S. Buyout team engages in buyouts, privatizations and strategic minority investments in partnership with experienced management teams throughout the United States and Canada.
TechMet, "Who we are":
"TechMet is a private industrial company that is building controlling or significant minority positions in world-class projects across the technology metal supply chain."
My concern, and I know that I am the first to mention this, is that some group or a consortium of groups obtains a majority position which will allow them to dictate terms of a merger or buyout or privatization which is not necessarily in the interest of long term shareholders and would also result in control of the selection of the Board and ultimately, the CEO. (Not a nice thought!)
(Total Niocorp shares; 273,320,925.
50% ownership = 136,660,462 shares @ current .45 USD:
It would only cost $61,497,208.125 to buy a controlling number of shares in a company sitting on undeveloped resources worth what? Billions? (If management shares uniformly voted to support a merger or buyout it would only be 43%, or about $52,887,598
Per Fidelity's NICORP info total insider shares = 8.7% which includes M.S. shares = 18,885,445. Total institutional shares = 0%, 91% other (All of us us out here in buy and long term-hold land.) There are no institutional shareholders. (Would not rely on Fidelity's reporting being entirely up-to-date.)
The good news is that no one in management is selling within the last 2 years, and that most of us here are apparently resisting the urge to sell, at least before possible financing.
So, unless the S.P. goes up considerably and some group scoops up a large number of shares between now and 11/7/19, the current 2019 concern would probably be Financing on terms unfavorable to current shareholders. (Dilution and lower share price--we will probably have to accept this at some level.)
The more concerning Hostile takeover issue would be more likely to occur after financing and start of construction and before any of the 2020, 2021, 2022 year annual meetings.
Question; Does anyone know if Niocorp has a hostile takeover poison pill strategy that protects shareholders as well as managment? Am I being reasonably concerned?
(Enuf said...off to face the day!)
PM. Re; TechMet
They seek "controlling or significant minority positions in world-class projects".
I am not certain that we really want them or any other outside company to take anything like a controlling position in Niocorp.
PM. "Bank of Mark Smith"
He was apparently selling his Largo holdings per a post several days ago, so should have liquid assets looking for an investment!
M.M.
"finance and governance, mergers and acquisitions, natural resources, environmental law,"
Well, that covers a lot of territory...Niocorp seems to want to keep everyone guessing, although "Mergers and Acquisitions" did stand out.
Thanks Landmark! Annual Meeting notification!
(Crossed finger for no more Lind share dilution between now and then!)
NCT:
One of the things limiting Largo profitability is the Glencore Offtake agreement. Mark hired a Marketing specialist for Largo which eliminate cost of an intermediary when the product is sold. If you go their site you will see an Glencore Coutdown clock which provides the number of days until the offtake agreement expires. Largo should be more profitable after expiration. (Depending on whether the new managment sticks with Marks plan!)
You will also note that while Niocorp does have an offtake agreement it is not for 100% of refined product which will allow Niocorp to sell some portion of the product themselves at a higher price.
(Heading off to do things!)
M.M.
"...Other considerations that trump business sense."
Mark was perhaps more interested in the physical aspects of developing and running the Largo mine and refining mill and working with the surrounding community than the majority owners. I suspect their motivation was more return on investment than concern for the environment and the workers, but that is speculation. CEOs of mining stocks tend not to give out dividends and capital gains, they tend to hold it for the next project, mining shaft or corridor, or equiptment repair.
A.O.
Let me join in with all the others in wishing you a happy birthday now and a prosperous year to follow!
Lysander:
Here are the amounts as of 12/17/2018; nobody on this list has sold anything since that time. (Going off to run some errands!)
Source was Fidelity Research "Top Insiders" Niocorp. I assume its current.
Insider Postion total Shares Last Trade
SMITH, MARK A. Chief Executive Officer 18,885,445.00
Option Execute 12/17/18
ASHBURN, JOHN F., JR. Vice President 762,226.00
Buy 02/14/17
BELING, DAVID COATES Director 350,000.00
HONAN, SCOTT Vice President 130,000.00
CARRABBA, JOSEPH A. Director 100,000.00
MORRIS, MICHAEL JAMES Director 55,250.00
SHAH, NEAL S. Chief Financial Officer 54,500.00
SIMS, JAMES T. Vice President 8,419.00
WIGHTMAN, ANNA CASTNER Director 3,000.00
GUERRERO-MAHON, NILSA Director 0.00
Bernice!
Let me join with everyone else in wishing you a Happy Birthday on this and all the birthdays that follow!
Reddoor.
Well, the fact that J.S has a title with Niocorp but he has other sources of income and other projects to support himself while waiting for Nicorp to become profitable is positive. I don't have a problem with it. Same with Mark. They're both making contacts which should serve to advance Niocorp.
Reddoor; Info from the link you provided.
1)Jim Sims, President and CEO
Policy Communications, Inc. was founded and is led by Jim Sims, a 30-year veteran of helping companies, governments, education institutions, and non-profit groups solve their toughest public relations, media relations, and investor relations challenges.
A former White House staffer and former U.S. Senate Chief of Staff, Jim leads Policy Communications' team of consulting experts and also serves as Vice President of External Affairs for NioCorp Developments Ltd.
Note that he has other people working for him.
2) list of Jim Sims' company's current and former clients:
Neo Performance Materials, Inc.
IBC Advanced Alloys, Inc.
Largo Resources, Inc.
U.S. Vanadium LLC
Dow Chemical
Devon Energy
FMC Corp.
Pioneer Natural Resources
CalEnergy Resources Ltd.
MidAmerical Energy
Questar
Western Business Roundtable
Danaher Corp.
White House Energy Policy Development Group
California Energy Commission
Black Hills Corp.
Calpine
Questar
Magma Power
Bill Barrett Corp.
Geothermal Energy Association
Great Outdoors Colorado
Premark International
Colorado School of Mines
Brownstein Hyatt Farber Schreck
He (His public relations company) is employed by Niocorp.
Humm. Well, he is listed as VP at Niocorp.
I imagine he is a managing partner. Should be at the link.
Trofee
(Posted this over on Niocorp board, posting here too!)
MS appears to be a busy man!
https://highpurityvanadium.com/about-us
From the USVanadium LLC.
"U.S. Vanadium LLC produces and sells a range of specialty vanadium chemicals, including the highest-purity Vanadium Pentoxide (“V2O5“) in the world. The company is comprised of global leaders and investors in the specialty chemicals and strategic materials sectors, including in the mining, processing, purification, and sales and distribution of vanadium specialty chemicals."
There is no investor information offered and The LLC is comprised of several Investment and industry groups including Lind and probably the three listed individuals (Daniel Harris, Terry Perles, and Mark). I Wonder what the LLC K-1 looks like!)
I wonder if this LLC wasn't one of those things that encouraged the Majority owners of Largo decide to put a bit of distance between them and M.S.! (Whose benefit is he acting on at any one time? Largo Owners? The Vanadium partnerships?) On another level this is what CEOs do,they run around and make connections with other companies (and make money!).
Also from the site:
"New York City (August 12, 2019) – U.S. Vanadium LLC (“US Vanadium”) announced today that it has signed an agreement to acquire Evraz Stratcor Inc. (“Evraz Stratcor”), which owns and operates a Hot Springs, Arkansas facility that produces high-purity vanadium oxides and downstream vanadium chemicals to customers in the catalyst, chemical, petrochemical, titanium, and energy storage industries."
Not certain how it intersects with Titanium, but since its one of the Elk Creek target minerals I am including this here. Perhaps M.S. is developing industry connections for possible eventual processing of Elk Creek minerals? (niobium or scandium for battery applications??)
Largo is up in price today! GLTA
(Off to do things while I have summer!)
Reddoor:
MS appears to be a busy man!
From the USVanadium LLC.
"U.S. Vanadium LLC produces and sells a range of specialty vanadium chemicals, including the highest-purity Vanadium Pentoxide (“V2O5“) in the world. The company is comprised of global leaders and investors in the specialty chemicals and strategic materials sectors, including in the mining, processing, purification, and sales and distribution of vanadium specialty chemicals."
There is no investor information offered and The LLC is comprised of several Investment and industry groups including Lind and probably the three listed individuals (Daniel Harris, Terry Perles, and Mark). I Wonder what the LLC K-1 looks like!)
I wonder if this LLC wasn't one of those things that encouraged the Majority owners of Largo decide to put a bit of distance between them and M.S.! (Whose benefit is he acting on at any one time? Largo Owners? The Vanadium partnerships?) On another level this is what CEOs do,they run around and make connections with other companies (and make money!).
Also from the site:
"New York City (August 12, 2019) – U.S. Vanadium LLC (“US Vanadium”) announced today that it has signed an agreement to acquire Evraz Stratcor Inc. (“Evraz Stratcor”), which owns and operates a Hot Springs, Arkansas facility that produces high-purity vanadium oxides and downstream vanadium chemicals to customers in the catalyst, chemical, petrochemical, titanium, and energy storage industries."
Not certain how it intersects with Titanium, but since its one of the Elk Creek target minerals I am including this here. Perhaps M.S. is developing industry connections for possible eventual processing of Elk Creek minerals? (niobium or scandium for battery applications??)
(Off to do things while I have summer!)
Trofee.
Thanks for your analysis!
The Largo website Shows Mr. Misk as CEO. Mark is no longer listed as a board member.
Johanna, Critm3, Putzmueler, MNG, all.....
Largo site has been updated. His name was removed from the list of managers AND the board of directors.
His replacement was:
"Paulo MiskPresident and Chief Executive Officer
Mr. Misk is a mining engineer with over 28 years' experience in operational management at mining facilities for various large multi-national mining companies across a wide range of commodities, including: niobium, chromite, iron, tin, gold, lithium and a range of other industrial minerals. Most recently, Mr. Misk ran Anglo American's Catalão Project from 2011 to 2014 where he was promoted to Head of Niobium Operations after serving as Niobium General Manager for one year. During his tenure at the Catalão Project he was responsible for implementing innovative policies and fostering a high-performance culture that greatly improved production rates and recoveries, as well as dramatically reduced unit costs resulting in a doubling of Niobium EBITDA."
"Head of niobium operations...."
I felt better about my Largo shares with Mark in charge. It is interesting that the new CEO's most recent experience was in Niobium. Well, I imagine that Mark did not come cheap and the New CEO has a mining operations back ground and will have a lower salary!
Trofee;
Thanks for posting link!
Johanna;
This is interesting in view of MS's recent positive video promoting Largo. It did not sound like he had any intention of leaving.
Now one of the things he indicated in the video was that he was proud of the fact that the Largo workforce was pretty much Brazilian. Perhaps this was done in support of that goal? Paulo Misk as COO was presumably already on the board of directors? It does not indicate whether MS will continue to be on the Board.
Perhaps the 2 largest S/Hs were not pleased with the return on their investment? Perhaps Mark decided to step down --something they did not want--to concentrate on Niocorp and this resulted in their rather tepid thank you?
At some point in the near future we need to see if MS is still on their board of directors. If he still is he is still in their good graces. Perhaps Niocorp will issue a statement in the near future about MS's status.
Johanna;
This is interesting in view of MS's recent positive video promoting Largo. It did not sound like he had any intention of leaving.
At some point in the near future we need to see if MS is still on their board of directors. If he still is he is still in their good graces. Perhaps Niocorp will issue a statement in the near future about MS's status.
The Link posted by Spunkmeyer!
https://prezi.com/view/YitB2phujcrGziToTTBj/
This is the current Niocorp slide show. 18 pages in--the end--there is picture of the back of everyone's head at a Niocorp meeting where they are showing--of course--a Niocorp slide show. (No faces!) I was not there. If I were, I would look a lot like the grey haired bald gentleman in the yellow shirt at the lower right.
Where was the meeting? Lots of coffee cups on the tables... Nebraska?
(Sort of a slide, but Niocorp mentioned..off to do things now!)
..." The State of Nebraska is currently reviewing Niocorp's Air Construction permit application. Citizens of Nebraska have a right to ask questions re this permit. Their opinion and the opinion of the state regulators is very important at the moment...."
Boilermaker: Thanks for this observation! It would seem
1) Niocorp is proactively emphasizing to anyone who holds a rabid USC Berkley style green radical viewpoint (I am NOT referring to you Spunkmeyer!) that there is no reason to initiate or request a hearing and the associated 30 day delay.
2) Emphasizing to any potential US or International financiers that they will not have any problems with regulators or stockholders in their home countries.
A clean environment is good. Who wants to be Love's canal?
(Bernice, Spunkmeyer, et.al., Love's canal was a big buried dump of toxic chemicals that became an early U.S. Environmental Protection Agency cleanup site.)
Monocle; Unless buying Greenland was the point of the trip, in which case there is no longer a reason to go.
During WWII the U.S.occupied and defended Greenland after Denmark was seized by a country called, ahem, Germany. When Germany was defeated we returned it to liberated Denmark.
China is currently calling itself "a Near Arctic Country"--whatever that is--but we know what they did and are doing to Tibet and to the Uighars. Denmark is really not in any position to either defend or develop Greenlands resources. If you look around the world you see China buying up resources in African countries and moving Chinese prison labor in to mine the mines or work the oil fields or send their trawler fleets to deplete African Fishing stocks. (No EU fishing Restrictions on these Chinese!)
Insolent would be claiming all of the North Atlantic and the North Sea as US Territory and building islands with runaways and military depots on shoal water just outside of the 12 mile limit for Greenland, Iceland, Scotland,the Faroes, and Norway. (Something like China IS currently doing to Vietnam and the Phillipean Islands.)
The US Offering to buy Greenland is a good deal more honest than seizing Tibet, Poland or the Sudatanland, Denmark or Holland. I think the point here is to indicate U.S. Interest and receive a Danish refusal which would make Denmark less likely to consider any later Chinese proffer to purchase Greenland's resources because of the prior US indication of interest.
Anyway, I am glad Niocorp's prices was up a little today.
Johanna, Slashnuts:
thank you for the updates! (Still holding on to my Largo shares)
A.O. Thanks!
Hum. Inaccurate information that might goose the S.P. lower. Just a simple oversight.
I'll keep my shares and hold on along with the all-in long timers.
While this project is engineered for and focused on 3 metals, it does not mean that there are not other REEs that will not be found. There is a reason that M.S. and S.H. would like to start additional explorational drilling as soon as they have both shafts built. One reason is to map the concentration of the target metals in the deposit at depth, the other, I'm sure, is to determine whether other salable minerals exist in recoverable concentrations. That said, any investment review should be based on statements regarding the three target minerals in Niocorp and Nordmine's most recent report.
(Going to have some more coffee now and wait for the Finance people to get off their butts. (Yah, what I do every day this summer!))
GLTL!
Nioman; Excerpt from the Smarteranalyst article. (This summerizes the Wainwright Buy recommendation."
Snip... "Currently, the analyst consensus on NioCorp Developments Ltd is a Moderate Buy with an average price target of $0.90.
No time frame is provided. Perhaps that is provided in the actual Wainwright report. (Lets hope After-Financing-pretty-soon-in-August when all the bankers return from their trips to Ibiza or fishing in Alaska or getting sand in their pants in Miami beach!)
That said, we should take what we can an know we are not alone in our assessment of Niocorp!
Now....off to wash the car and front of the house. (Alas! I'm not a vacationing banker!)
Hi Johanna!
Thank you I will!
I am going to let M.S. and the boys worry about this. Note that its summer and that is when the people in the financial sector all go on vacation or sabbatical. That argues against a midsummer (August) finance package.(Ich arbeitete einst fur Deutschebank...Jah Diese Bank..."Quelle Disaster!")
But you are correct, no worry...back to vacation. Reasonably 3 or 4 more years to go for any substantial SP gains. (As opposed to short term $2-$3 SP.) But suprise me! I would be happy to be wrong!
P.M.---Surface mining...Canada news slide...
http://spaceweather.com/
"SMALL ASTEROID EXPLODES OVER CANADA: Yesterday, July 24th, with no warning, a small asteroid traveling 45,000 mph hit Earth's atmosphere over Canada....According to a NASA analysis of the video, the asteroid was about 12 inches (30 cm) wide, it came from the asteroid belt, and disintegrated only 18 miles (29 km) above Earth's surface."
A couple of Provences to the east but they are encouraging people to look for it. Surface mining for bolites. Unless it turns out to be chunks of platinum or something its probably not worth more than about $.50 US per gram.
https://www.inverse.com/article/13968-how-much-is-an-asteroid-worth-not-as-much-as-you-think-or-a-lot-more
They mention a 1/2 lb chunk of asteroid worth between $3,400 - $4,500 US. Probably about equal to the worth of Niocorp's eventual refined Niobium product.
( NIOBF currently $.4361 US. Need some time for the news to percolate I think!)
P.M. NEGoodlife, Boilermaker, Johanna Baks, NEBrskn, All...
"This means we are good to go when we get the $$$"
"Yawn.."
Is nap time over? Time to come back from vacation?
8:32 CST. Going to look at SP. (Will I regret selling all my IBC and using to purchase NIOBF? Not thinking so.)
(GLTA!)
Spunkmeyer. It was genuinely unfunny. Ein bose Spassmaker! you do not toy with peoples emotions like that.
Slashnuts, Douginil;
Nice to have Ownership in a mining company that is actually debt free and whose product is in demand! Glad I held on. Looking forward to the rest of the year!
Closed at $1.49 USD today.
Thank you Johanna!
"Given this strategic prioritization, the lower vanadium price environment, anticipated working capital requirements for its new sales and trading business, repayment of the remaining outstanding Senior Secured Notes, and the previously disclosed remeasurements resulting from the terms of the Company's current off-take agreement, the Company has adopted the conservative strategy of not returning capital to shareholders at this time. "
I have no problem with Mark's conservative approach.
The company is debt free. They are the only stock I hold that is. At some point I do, however, expect to be rewarded with either a higher share price or dividends.
Annual meeting today;
https://s22.q4cdn.com/197308373/files/doc_financials/annual/2019/Largo-Notice-of-Meeting-June-2019.pdf
NOTICE IS HEREBY GIVEN that an annual and special meeting (the “Meeting”) of the shareholders of Largo Resources Ltd. (“Largo”) will be held at the offices of Gowling WLG (Canada) LLP, 100 King Street West, Suite 1600, Toronto, Ontario, M5X 1G5 on June 27, 2019 at 11:00 a.m. (Toronto time), for the following purposes:
1. to receive Largo’s audited consolidated financial statements for the years ended December 31, 2018 and 2017 and the auditor’s report thereon;
2. to fix the numbers of directors of Largo to be elected at the Meeting at six;
3. to elect the directors of Largo;
4. to appoint PricewaterhouseCoopers LLP as Largo’s auditors, to hold office until the next annual meeting of shareholders, and to authorize the directors to fix their remuneration;
5. to consider a special resolution empowering the directors to fix the number of directors within the minimum and maximum number provided in the articles of Largo; and
6. to transact such further or other business as may properly come before the Meeting or any postponement(s) or adjournment(s) thereof
NEGoodlife; Omaha Investor, Putzmueller (Sports Slide)
Well, the KC Royals won last night in Omaha, perhaps they need to play there more often! It probably does not hurt that the Stormchasers are the KC minor league Farm team and I suspect, the stadium outfield is smaller than Kaufman stadium. (Easier to hit home runs!)
Well....How about using aluminum-niobium alloy in metal bats and catcher's masks? Titanium is used in things like knee and hip replacements... There's a sports use! All that team travel in Airplanes using aluminum and scandium alloys!
(EU Volk...Die Kansas City Royals und Ohmaha Stormchasers sind Amerikanishen Baseball Mannschaften!)
(Sports Irony;(Putz!) Oh Canada! Congrats on your basketball win; St. Louis congrats on your Hockey win!)
NE Goodlife, Omaha Investor! Shouldn't you be at the Royals ball game tonight? I'm in K.C. listening to the game on radio right now! (The mine site will still be there Friday morning!)
All my worrying and analysis won't change a thing at this point. Time to enjoy summer while you can! (Putz, this really applies to you!)
Good night! Lets hope for financing next week! (Or, maybe after the Largo annual meeting concludes!)
Mlady; No, company going forward. All debt will be paid off in early July and vanadium prices rising. Estimated reserves are now confirmed reserves. Price has increased from $1.15 to $1.45 share.
As far as mining companies not paying off, in general, you are probably correct.
Slashnuts; Thanks! Paying off your debt is a very good thing for Largo, especially at a piratical 9.25%! I am certain this was a major irritation for Mark.
Lets hope that they get a Vanadium Redox battery unit on site to deal with any power outages and that the Vanadium prices rise. If they can start to pay dividends It would help the SP and the shareholder's attitude!
Boilermaker: Your post:
"Glow in the dark roads??...
I am not all that sure the salt would be a saleable product (or one you could give away.) The water that is in the carbonatite formation has traces of Thorium and Uranium."
https://rareearthsalts.com/rare-earths/
I suppose if the brine concentrations of other non radioactive REEs are large enough they might be interested. If so, easy transport to Beatrice ("Be-A-trice" not Beatrice.)
However, lets hope they don't end up like these products! (No road salt here!)
https://io9.gizmodo.com/seriously-scary-radioactive-consumer-products-from-the-498044380
Additional Question: If there are large enough pockets of Uranium here and there, could they find pockets of trapped Helium? I don't know if the overlying structures could contain it. Most Helium is found in West Kansas & the the Oklahoma and Texas Panhandles. I suppose that this would have been determined during the inital drilling surveys.
(My ?s = pure curiosity and idle speculation to pass the time as we wait for events beyond our control for the SP to inflate! Still, helium is becoming a strategic element. )
M.M. Boilermaker.
Salt...If not contaminated with some toxic REE its worth $124/ton as road salt. Get and offtake agreement with the County or State!
(Or just donate it to the county or municipality for good will!)
http://arizonasilverexploration.com/
Arizona Silver Corporation was a privately owned company that merged with Canadian-listed capital pool company Damon Capital Corp. This transaction was closed November 18th 2016 creating the NEWCO Arizona Silver Exploration Inc. listed on the TSXV Exchange with the symbol AZS.
May 28, 2019
Vancouver, British Columbia / May 28, 2019 – Arizona Silver Exploration Inc. (the “Company” or “Arizona Silver”) (TSX-V: AZS) (OTCQB: AZASF) is pleased to announce results of the second set of three drill holes into the gold-silver vein structure at its Philadelphia property in Mohave County, Arizona. Six drill holes have now been completed at the project and results of this work merit returning for a larger scale drill program. The Company was also pleased to find the rare element beryllium in concentrations far higher than normally associated with epithermal gold-silver vein systems.