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Covert is a Surge partner. Weren't Bubbl'r and Hogwash with Gold Leaf? Maybe even ubr?
https://surgedist.com/partners/
Brandon Sikes is Surge CEO. Selinger is the sales guy from old Kona.
https://surgedist.com/team/
Still wondering whatever happened to CAFI - 51Labs (or 51Fit or Consumer Auto Finance or whatever the heck it is/was/could be)
https://get51fit.com/pages/about
Same SC/FL regions.
Groundhog Day! I still have a can or two of KG in the fridge. It was good stuff.
Thanks for the reminder on that. I read that quickly and passed over it. Excellent news, indeed!
MS and team have clearly been lobbying and testifying for many years about NB's potential for critical mineral sourcing and security to local, state, federal and industry representatives.
In December 2017, President Donald Trump issued Executive Order 13817, A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals. This Executive Order called on agencies across the federal government to develop a strategy to reduce the Nation’s susceptibility to critical mineral supply disruptions.
In May 2018, DOI took the first step in the strategy, releasing a list of 35 minerals deemed critical to the U.S. economy and security, based on a methodology by the U.S. Geological Survey (USGS). This list forms the foundation of the full strategy, which entails a number of other actions that the Department will take.
https://www.doi.gov/pressreleases/trump-administration-announces-strategy-strengthen-americas-economy-defense
In July 2018, MS testified at a hearing of the U.S. Senate Energy and Natural Resources Committee led by U.S. Senator Lisa Murkowski (R-AK), Committee Chair. The hearing examined the topic of “critical minerals” and opportunities to strengthen U.S. mineral security.
https://www.niocorp.com/niocorps-elk-creek-critical-minerals-project-earns-a-place-in-the-national-spotlight-at-a-u-s-senate-hearing/
In June 2019, the Trump Administration released, “A Federal Strategy to Ensure a Reliable Supply of Critical Minerals,” to make America’s economy and defense more secure.
In October 2020, U.S. President Donald Trump on Wednesday signed an executive order declaring a national emergency in the mining industry, aimed at boosting domestic production of rare earth minerals critical for military technologies while reducing the country’s dependence on China.
Trump ordered his Cabinet secretaries to study the matter, with an eye toward government grants for production equipment, as well as tariffs, quotas or other import restrictions against China and other non-market foreign adversaries.
https://www.defensenews.com/congress/2020/10/01/trump-executive-order-on-rare-earths-puts-material-risk-in-spotlight/
In February 2021. Biden Executive Order 14017 (E.O.), America’s Supply Chains, was signed ordering a review of vulnerabilities in our critical mineral and material supply chains within 100 days.
In June 2021, the Biden-Harris Administration released a first-of-its-kind supply chain assessment that found our over-reliance on foreign sources and adversarial nations
https://www.whitehouse.gov/briefing-room/statements-releases/2021/06/08/fact-sheet-biden-harris-administration-announces-supply-chain-disruptions-task-force-to-address-short-term-supply-chain-discontinuities/
In February 2022, EXIM announced (the “February 2022 Announcement”) that its Board of Directors (the “EXIM Board”) will vote on a new domestic financing initiative which would make EXIM funding available both for new U.S. manufacturing and infrastructure projects and existing ones looking to expand with an export nexus.
https://www.exim.gov/about/special-initiatives/make-more-in-america-initiative
In February 2023, Niocorp receives LOI from EXIM (which had to have been previously applied for)
https://www.niocorp.com/niocorp-applies-for-debt-financing-from-the-us-export-import-bank/
In August 2023, Export-Import Bank of the United States Approves First-Ever Term Financing for Domestic Manufacturing
$4.7 Million Direct Loan Marks First Transaction Authorized Under EXIM’s Make More in America Initiative
https://www.exim.gov/news/export-import-bank-united-states-approves-financing-for-first-ever-domestic-manufacturing
In August 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/
Here we are. Dots. Lots of them. Seems to me they're pedaling as fast as they can.
Lots of other stuff happened in this time period that I'm too lazy to write about. Navigating policies, regulations, laws, legislatures, corporations, lenders, banks and offerings while advocating for a piece of dirt in Nebraska that's integral to national security, defense, economy and environment, to local, state, federal, and industry representatives takes a massive effort. If you read words and phrases and requirements included in these committee reports and bills, I have little doubt that Niocorp and MS had a role in introducing at least a few of them (see the $10 mil AlSc alloy funding). MS doesn't work alone, the team at Niocorp is obviously integral to everything he says and does. I could drone on, but the naysayers who claim they're not earning their salaries, especially those who are not actively invested (the loudest), should step up and tell us what you've been doing and what you've accomplished in the last several years. Go ahead. Or go away.
Haven't seen any links for full presentations yet, just clips on Twitter and none of those are MS. Conference goes through tomorrow.
From the press release: Conference presentations will not be broadcast live but recorded videos of the presentations are expected to be made available following the conference.
And they reportedly got $15 million from the USG/DoD less than a year ago for a study, months after the Idaho mine was shuttered.
https://www.postregister.com/messenger/news/jervois-gets-15m-from-us-government/article_9ce5f708-1799-11ee-a0bb-c710e18d3c12.html
Investing in Critical Minerals: A Conversation with Brian Menell
March 12, 2024
Conversation with CSIS, not from SAFE Summit - starts at 3:00
Comments at 8:30 re EXIM, DoE, DoD - I haven't listen to the whole thing but talks a lot about TechMet and the DFC
https://www.csis.org/events/investing-critical-minerals-conversation-brian-menell
The Honorable Rob Wittman of the U.S. House of Representatives speaks at #SAFESummit2024@RobWittman pic.twitter.com/1YgFO0KCPN
— SAFE (@Securing_Energy) March 12, 2024
US Should Persuade Brazil to Join Minerals Alliance to Secure Key Metal for Hypersonic Missiles: Researchers
The Pentagon warned Congress last year that China already “has the world’s leading hypersonic arsenal.”
By Frank Fang
3/11/2024
Hey, Niobium and Niocorp made it to the Epoch Times! (even if it's kind of a review of an article previously posted on here on iHub)
https://www.theepochtimes.com/us/us-should-persuade-brazil-to-join-minerals-alliance-to-secure-key-metal-for-hypersonic-missiles-researchers-5604490
Recommendation
The researchers also offered other recommendations. They said the Elk Creek project in Nebraska “represents a commendable step toward addressing this vulnerability domestically.”
The Elk Creek project is being developed by NioCorp Developments Ltd. Once completed, it will be North America’s only mining and processing facility to produce niobium, scandium, and titanium, according to the company’s website.
NioCorp CEO Mark A. Smith is scheduled to speak during the SAFE Summit in Washington, which will be held on March 12 and 13. He will speak on the first day during a session titled “Crippling America Without Firing a Shot: China’s Extreme Critical Minerals Leverage.”
I would tend to agree, but I'm not a tax accountant and I didn't stay at Holiday Inn Express last night. 🤣
Consider investing directly in publicly traded stock and bonds of non-U.S. corporations as they are generally not considered PFICs if the issuing company primarily carries on active business and does not meet the PFIC tests.
A U.S. person that is a direct or indirect shareholder of a passive foreign investment company (PFIC) files Form 8621 if they:
Receive certain direct or indirect distributions from a PFIC.
Recognize a gain on a direct or indirect disposition of PFIC stock.
Are reporting information with respect to a QEF or section 1296 mark-to-market election.
Are making an election reportable in Part II of the form.
Are required to file an annual report pursuant to section 1298(f).
https://www.irs.gov/forms-pubs/about-form-8621
A foreign corporation is a deemed passive foreign investment company (PFIC) if 75% or more of its gross income is from non-business operational activities (the income test).
Or, if it has at least 50% of its average percentage of assets held for the production of passive income (the asset test).
PFICs are subject to strict and extremely complicated tax guidelines by the Internal Revenue Service.
U.S. investors who own shares of a PFIC must file IRS Form 8621.
Identifying holdings in PFICs closes tax loopholes that allowed some U.S. individuals to avoid taxation on that foreign income.
https://www.investopedia.com/terms/p/pfic.asp
As to the “ U.S. investors who own shares of a PFIC must file IRS Form 8621,” that’s gonna take a little more research!
Thanks for pointing that out.
From the article:
It has in place contracts or letters of intent to sell all of the project’s projected ferro niobium (FeNb) production over the first ten years to ThyssenKrupp.
The company previously entered into off-take deals with Germany's ThyssenKrupp Metallurgical Products GmbH and New Jersey-based CMC Cometals for about 50% and 25%, respectively, of the project's ferroniobium output over 10 years.
FY24 DoE budget signed 3/9 ✔️
Mark's presentation at SAFE Summit 3/12 ✔️
FY24 DoD budget hopefully? by 3/22
EXIM questions close 5/6
EXIM decision hopefully? by 6/30
FS funding and completion?
MSP assistance?
Stellantis and/or others onboard?
Shovels in?
IBC?
We wait and see!
Mark's presentation should be done. Let the networking and glad-handing commence!
Crippling America Without Firing a Shot: China’s Extreme Critical Minerals Leverage
Tuesday, March 12, 2024
11:00 AM - 11:10 AM
The government works slowly, especially when you have executive orders. studies, reports, legislation, policy and FUNDING involved. Throw in an administration change. In previous years, not all the relevant permissions and funding were in place to carry out what we're hoping for. We STILL don't have FY24 DoD funding, hopefully that changes by 3/22 and all the money is included. Throwing small chunks of cash at a project that doesn't even exist and currently has no way to deliver YET, even on advance purchases, doesn't make a lot of sense, even for gov't. Other recipients of funds to this point already had existing operations. Like it or not, what we have is still a piece of land in SE Nebraska. EXIM can (will?) change that. We'll see. The committee recognizes that the United States may soon become a major producer of high purity scandium oxide by virtue of a proposed mine and mineral processing project in Nebraska.
That being said, I would encourage everyone to take another look at the National Defense Authorization Act (NDAA) for Fiscal Year 2024 Report of the Committee on Armed Services.
https://www.govinfo.gov/content/pkg/CRPT-118hrpt125/pdf/CRPT-118hrpt125.pdf
Search for your favorite keywords - rare earth (38), critical minerals (29), niobium (10), scandium (16), titanium (17), alsc (7), terbium (4), domestic supply chain (3), NEBRASKA (1), and keep in mind that Nb, Sc, and Ti are all in the current, existing FS (I don't know if Tb is in there but the other REEs aren't mentioned by name). Think what you will about the future.
Here's a teaser:
The President signed the NDAA on 12/22 and it includes:
SEC. 152. MULTIYEAR PROCUREMENT AUTHORITY
FOR DOMESTICALLY PROCESSED CRITICAL
MINERALS.
(a) Authority for Multiyear Procurement.--Subject to section 3501 of
title 10, United States Code, and from amounts made available by
discretionary appropriations Acts from the National Defense Stockpile
Transaction Fund (as established under section 9(a) of the Strategic and
Critical Materials Stock Piling Act (50 U.S.C. 98h(a))) after the date
of the enactment of this Act, the Secretary of Defense may enter into
one or more multiyear contracts for the procurement of critical minerals
that are processed in the United States by domestic sources.
(b) Application of Strategic and Critical Materials Stock Piling
Act.--A multiyear contract entered into under this section shall be
deemed to be an acquisition under the Strategic and Critical Materials
Stock Piling Act (50 U.S.C. 98 et seq.).
(c) <<NOTE: Effective date.>> Authority for Advance Procurement.--
The Secretary of Defense may enter into one or more contracts, beginning
in fiscal year 2024, for advance procurement associated with the
domestically processed critical minerals for which authorization to
enter into a multiyear procurement contract is provided under subsection
(a).
LET'S GET A HOLE!
That press release is almost a year old. Lots of possibilities since then.
AMSTERDAM and CENTENNIAL, Colo. – July 6, 2023 – Stellantis N.V. (“Stellantis”) and NioCorp Developments Ltd. (“NioCorp” or the “Company“) (Nasdaq:NB) (TSX:NB) today announced the signing of a Rare Earth Offtake Term Sheet (“Term Sheet”).
Great find...thanks!
The first of those critical nodes, the sourcing of rare earth elements, means mining rare earth elements out of the ground. Today in the U.S., there is only one rare earth mine currently active and selling to the commercial market.
Separation includes a series of processes that take out extractable rare earth elements from other elements and compounds in the mineral rock. Processing involves concentrating separated rare earth elements and then chemically treating them to produce high-purity rare earth oxides or rare earth salts. The metallization step transforms rare earth salts into rare earth metals. Depending on the application, those metals can be combined with various alloying elements to produce a variety of rare earth alloys.?
Finally, rare earth magnets are typically produced from alloys that are sintered, or bonded, into magnet block and then cut and coated according to specification.?
It's important that all those critical nodes happen inside the U.S. so the Defense Department can have a secure supply of the rare earth materials and rare earth magnets it needs.?
Exciting times ahead IMO. Will 2024 be it? Lots of potential for good news.
FY24 DoE budget signed 3/9 ✔️
Mark's presentation at SAFE Summit 3/12
FY24 DoD budget hopefully? by 3/22
EXIM questions close 5/6
EXIM decision hopefully? by 6/30
FS funding and completion?
MSP assistance?
Stellantis and/or others onboard?
Shovels in?
IBC?
We wait and see!
Can NB get some of this from DoE?
On Saturday, March 9, 2024, the President signed into law:
H.R. 4366, the “Consolidated Appropriations Act, 2024,”
https://www.whitehouse.gov/briefing-room/legislation/2024/03/09/press-release-bill-signed-h-r-4366
FOSSIL ENERGY AND CARBON MANAGEMENT
For Department of Energy expenses necessary in carrying out fossil energy and carbon management research and development activities, under the authority of the Department of Energy Organization Act (42 U.S.C. 7101 et seq.), including the acquisition of interest, including defeasible and equitable interests in any real property or any facility or for plant or facility acquisition or expansion, and for conducting inquiries, technological investigations and research concerning the extraction, processing, use, and disposal of mineral substances without objectionable social and environmental costs (30 U.S.C. 3, 1602, and 1603), $865,000,000, to remain available until expended: Provided, That of such amount $70,000,000 shall be available until September 30, 2025, for program direction.
https://www.congress.gov/118/bills/hr4366/BILLS-118hr4366eah.pdf
30 U.S.C. 3, § 1602. Congressional declaration of policies
It is the continuing policy of the United States to promote an adequate and stable supply of materials necessary to maintain national security, economic well-being and industrial production with appropriate attention to a long-term balance between resource production, energy use, a healthy environment, natural resources conservation, and social needs. Implementation of this policy requires that the President shall, through the Executive Office of the President, coordinate the responsible departments and agencies to, among other measures—
(1) identify materials needs and assist in the pursuit of measures that would assure the availability of materials critical to commerce,
the economy, and national security;
(2) establish a mechanism for the coordination and evaluation of Federal materials programs, including those involving research and development so as to complement related efforts by the private sector as well as other domestic and international agencies and organizations;
(3) establish an analytical and forecasting capability for identifying critical mineral demand, supply, and other factors to allow informed actions to be taken to avoid supply shortages, mitigate price volatility, and prepare for demand growth and other market shifts;
(4) promote a vigorous, comprehensive, and coordinated program of materials research and development consistent with the policies and priorities set forth in the National Science and Technology Policy, Organization, and Priorities Act of 1976 (42 U.S.C. 6601 et seq.);
(5) promote cooperative research and development programs with other nations for the equitable and frugal use of materials and energy;
(6) promote and encourage private enterprise in the development of economically sound and stable domestic materials industries;
(7) facilitate the availability, development, and environmentally responsible production of domestic resources to meet national material or critical mineral needs;
(8) avoid duplication of effort, prevent unnecessary paperwork, and minimize delays in the administration of applicable laws (including regulations) and the issuance of permits and authorizations necessary to explore for, develop, and produce critical minerals and to construct critical mineral manufacturing facilities in accordance with applicable environmental and land management laws;
(9) strengthen—
(A) educational and research capabilities at not lower than the secondary school level; and
(B) workforce training for exploration and development of critical minerals and critical mineral manufacturing;
(10) bolster international cooperation through technology transfer, information sharing, and other means;
(11) promote the efficient production, use, and recycling of critical minerals;
(12) develop alternatives to critical minerals; and
(13) establish contingencies for the production of, or access to, critical minerals for which viable sources do not exist within the United States.
https://www.govinfo.gov/content/pkg/USCODE-2022-title30/pdf/USCODE-2022-title30-chap28-sec1602.pdf
If you view the MSP possibilities in the light most favorable to NB, based on facts, NB could potentially be in the running as 1 or more of the 23 projects, with 11 possibilities in two regions, the Americas and Europe. If you notice, they listed a total of 30 projects, not 23, so maybe some overlap in there? NB has possible exposure on upstream, midstream, and even recycling/recovery, through their collaboration with Brunel Centre for Advanced Solidification Technology and NioCorp Technologies Ltd. Those seem like decent odds that something clicks. Let's hope so.
NioCorp has joined with the Brunel Centre for Advanced Solidification Technology (“BCAST”) to develop a range of innovative aluminum alloys for the automotive sector. These alloys will utilize scandium to enhance the performance of aluminum components in order to facilitate:
*Vehicle light weighting – developing aluminum-scandium alloys that reduce weight, increase automobile efficiencies, and reduce emissions;
*Recycling – utilizing the performance-enhancing attributes of scandium to increase recyclability, creating sustainable low-carbon circular supply chains; and
*Cost Reduction – reducing manufacturing costs and waste through utilizing scandium to increase the strength, ductility, weldability, durability, surface finish, and corrosion resistance of critical aluminum components.
Currently, of 23 projects globally, 6 are "in the Americas." I have no idea which ones. Maybe not a candidate for State Department money here in the U.S., but NB seems to fit the bill for potentially being the recipient of assistance finding additional financing and offtakes (in support of exports?) within the group. They don't identify what projects they are looking at and it's unknown whether any of them are domestic projects. I'm just throwing more dots up on the wall, whether they all connect remains to be seen. Do your own due diligence.
Across the 23 MSP projects.
16 projects involve upstream mining and mineral extraction, 7 involve midstream processing, and 7 involve recycling and recovery.
The projects cover cobalt, copper, gallium, germanium, graphite, lithium, manganese, nickel, and rare earth elements.
6 project sites in the Americas, 5 project sites in Europe, 13 project sites in Africa, 3 project sites in the Asia-Pacific region.
The role of the MSP is to make introductions to potential investors, facilitate long-term financing and debt arrangements, find customers for minerals and help negotiate offtake agreements, he said.
Under Secretary Jose Fernandez Discusses U.S. Critical Minerals Strategy for Clean Energy Transition
7,363 views Mar 6, 2024 #JoseFernandez #CriticalMinerals #PDAC2024
Mostly talks about international investment, 5 core minerals, and pursuing ESG, but some insights into financing and starting up projects. I like the part at 6:00 where he talks about having a couple projects in their back pocket that they think they might be able to announce pretty quickly. Fingers crossed! 23 projects in the pipeline.
I didn't take it as an insult. I took it as you missing my "agenda" by a country mile. My only agenda is, as you said, "submitting DD to this MB." This board doesn't make me money and I pay no attention to post counts. I find the daily flood of articles and information about this fascinating and extraordinarily encouraging. I don't ever recall seeing such intense and sustained global focus, from all sectors, on a daily basis, on exactly what this project is about, coupled with the absolute imperative that we MUST move quickly, in unison, on all fronts, to combat this need.
I think the opportunity to get in at these record low levels is a gift with the potential for short and long term wins. We should know something soon. I've been wrong before.
1200 posts in 13 years on 12 boards - you caught me! I've been trying to become an iHub influencer for over a decade. Damn, I was hoping no one would figure it out!
You’re a juvenile.
10 years ago was a different time. Two years ago was a different time, but you can’t see that. As of 1/2024, according to the ASM, the cost was still 1.2, unless you have other numbers? The government has many available pots of cash, but you either don’t read or can’t understand what you read. Which is it? Don’t answer, I don’t care. Go back and review the posts without your own confirmation bias and you may learn something.
I have no issues with anything the company has said since I’ve been here.
First thing you learn as a PR person is not to confirm anything unless you know it to be fact. We don’t know if they know whether the new FS is necessary and neither do you. Guess we’ll find out soon what that answer is. I’ve posted multiple funding mechanisms for an FS, so there are potential opportunities once a budget is passed and my guess is it’s more about updating the old one than starting from scratch. There’s also plenty of info out there about how the Chinese have been manipulating prices causing global difficulties in financing for these types of projects.
I didn’t get into the markets to fall in love with companies and invest for life, I came here to have fun and make money. Sorry if you made poor decisions. It’s not my land, I don’t live in Nebraska, and I’m not looking for work. To be clear, you’re the last person I would ever consider taking investment advice from, but thanks for offering.
As far as creaming goes, the only one doing that is you, with your insatiable desire that the company, the project and the current investors, who you believe to be beneath you, fail. Good to see you have an enough life left in you to be able scream from the highest mountain that you don’t have a clue what you’re talking about and you just like to hear yourself. 🤡 While you may have had relevance once, you no longer have value here. Feel free to continue to spew in a vacuum. No one is listening.
Thanks for playing, Sport. Fade into your darkness, it’s the only place that welcomes you.
West scrambles for ‘insurance policy’ as China raids Earth’s raw materials
Matt Oliver
Fri, Mar 8, 2024, 10:00 PM MST
Good article on Chinese influence on pricing. More confirmation that the government is well aware of this and it's some of the reasons for the financing support. I posted earlier that DARPA is also working on addressing this.
By 2027, the act also specifies that 70pc of the minerals in US-made EV batteries must come from US miners or recycling plants – or mines with free trade deals with the US. Much of these are expected to come from Canada, where there are rich seams of the required metals in areas including Ontario and Quebec.
At the same time, the US Department of Energy and even the Pentagon are providing funding to mines and refineries at home which officials now view as vital to US security.
I wouldn't really calling it engagement, more like put up or shut up, but in the nicest way possible. And, you're welcome! Nice to see the continued focus on securing this resource and watch the tailwinds increase daily.
Patiently awaiting your informed and detailed explanation of how stock price relates to potentially available, yet still unconfirmed, future funding opportunities. Go.
Still no substance. Just babble and self aggrandizing. 😂🤡 Now, don’t forget to like your own post!
EXIM didn’t give the first MMIA loan until 8/2023. Times have changed, as have China relations and the drive for resources. The time is right and the window is open.
NioCorp is a sponsor and the summit accepted applications for speakers. Now, did that give MS the privilege of saying he wants to be immediately after Reta Jo Lewis, on Day 1, in the morning? Or is there something more to all this? Maybe. Maybe not. I’m good with “Maybe!”
Feel free to validate/justify/support your comment with something more than, “I think I’m smarter than you,” and the same old tired commentary. Failing to do so only further confirms your irrelevance. Unlike you, I’m more than willing to entertain supported factual data and I’ll even do the research/post the links for you if you can produce something. My guess is you can’t because you haven’t and you’re unable to answer questions. Good luck to you.
Thanks! I keep trying to find information that would paint the current funding possibilities in a negative light but the more I dig, the more positives I find.
It's 10 minutes, early the first day, before lunch. Shouldn't be a problem. Engineers aren't normally well known for their effervescent presence.
Yet another potential pot of cash or just more detail on DoD? Look at Page 2 of the 1st linked pdf, and peruse the entirety of the 2nd pdf linked below to get a better picture of what this is all about and see if you recognize some familiar words and terms. Their total FY24 funding request is the largest ever (not sure what made it in the actual budget), and the largest for the foreseeable future at just under $2 billion.
Manufacturing Capability Expansion & Investment Prioritization
The Defense Production Act (DPA) Title III program targets investments that create, maintain, protect, expand, or restore critical domestic industrial base capabilities. DPA Title III has three broad focus areas: sustaining critical production, commercializing research and development investments, and scaling emerging technologies. DoD’s response to Executive Order 14017, America’s Supply Chains, identified five defense-critical sectors, around which the Department is focusing investments.
Establishing and expanding domestic capacity for strategic and critical minerals
Mitigating industrial base constraints to accelerate munition production
Ensuring access to minerals and materials required to produce large capacity batteries
https://www.businessdefense.gov/ibr/mceip/docs/DPAI-Infographic_23JAN2024.pdf
https://www.businessdefense.gov/ibr/mceip/docs/ir/MCEIP-Overview-Deck.pdf
https://www.businessdefense.gov/ibr/mceip/index.html
I would consider looking for $$$ as being "in process." 😂
Has anyone ever asked, or have they ever said how long it would take to get a new FS completed if they had the cash?
The election is 11/5, so it's crunch time!
Just a perspective: Government agencies like to spend their allotted funds because a failure to do so can result in lower budgets in subsequent years. Appointed agency heads who publicly tout their missions, and their plans to support the President's critical agenda, REALLY like to spend/loan (in EXIM's case it's a repayable loan) all their allotted funds to show their commitment to the program and their ability to get the message out, so they can keep their jobs. Even more important in a contentious election year, so the Prez can show the world what he's done.
According to the EXIM site, there are only 3 other MMIA projects pending besides the approximately $800 million NioCorp. Interesting to note that EXIM can fund up to 80% of projects, so could be up to $960 million if that happened? If EXIM has $2 billion to spend and has only spent $174 million so far, that leaves them with $1.826 billion. If NB gets $800 million, that leaves over a $1 billion to spend. Without NB, can they even come close with a plastic resin plant? Who knows?! NB certainly seems like a shoe-in that hits a multitude of criteria.
Fun to think about the possibilities. 🙂
There doesn't seem to be a tremendous amount of info out there, but here's what I've found, and I have no idea if it correlates in any way to the loan requests:
Tex-Tube Pipe Plant (pending since 10/2022)
According to state and local economic development sources Tex Tube Company plans to invest $1,700,000.00 to build out 327,088 square feet of new space in Waller.
https://www.intelligence360.news/tex-tube-company-to-spend-1700000-00-to-occupy-327088-square-feet-of-space-in-waller-texas/
Electrovaya Lithium Battery Factory Project (pending since 6/2023)
The final capital cost of the facility is estimated at approximately $75 million, and it is expected to open in phases starting late 2023
https://electrovaya.com/press/electrovaya-to-establish-lithium-ion-gigafactory-in-new-york-state/
Packwell Plastics Packaging and Warehouse Facility Construction Project (just posted 2/29/2024)
Unable to find any associated costs but how much can a resin factory cost?
https://www.packaging-gateway.com/news/port-houston-packwell-partner-to-increase-resin-export-capabilities/
US Exim readies for US$2bn domestic financing boom
AMERICAS / JANUARY 31, 2024 / BY FELIX THOMPSON
The Export-Import Bank of the United States (US Exim) is anticipating a “significant” rise in domestic financing activity in the coming year as it works to rejig its offering and grow investment in key sectors such as semiconductors, critical minerals and renewable energy.
US Exim first launched the Make More in America (MMIA) programme nearly two years ago, following a 100-day review of critical supply chains.
To date, the government agency has signed two deals for a combined total of US$174mn: a loan of US$4.7mn for Pennsylvania-based lithium technology firm, Aquatech, and US$169mn in financing for Beta Technologies, a maker of electric aircraft and infrastructure.?
Such figures are dwarfed by the financing extended by rival export credit agencies under their equivalent programmes, such as the UK’s, which since releasing its export development guarantee in 2020 has rolled out billions of dollars in support to large corporates such as Ford and Jaguar Land Rover.
But in an interview with GTR, US Exim’s first vice-president and vice-chair of its board, Judith Pryor, says MMIA will become a “significant part” of its portfolio in 2024 and will align the ECA with White House efforts to secure supply chains for strategically important goods.
“The MMIA initiative is going to be a boon for American manufacturers and American manufacturing. We have US$2bn in the pipeline,” she says, while noting deals are split across a range of industries, such as energy efficiency, battery storage, satellites and critical minerals.
“We’re not the first ECA to provide this type of product, many of our counterparts and contemporaries do this. But for the first time, we’re able to support the full lifecycle of an export,” she says.
“This is a new direction for the agency,” Pryor adds.
Under MMIA, US Exim has made available the agency’s range of medium and long-term loans and guarantees for the establishment or expansion of US-based manufacturing facilities with an export nexus.
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