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How’s the solar system paid with NB profits working out?
There will be no mine. It is a total turd. The only question is how many more years the cultists will continue financing the fat salaries and bonuses of the part time management team. Praise the lord. Niocorp is sent from heaven.
You don’t have to do anything. But if you sell from a CDN accout you will pay a fairly hefty currency scalp per trade. You might consider setting up a TD USD account, even if it’s a registered account, and transfer the shares into there. Then you don’t pay a scalp until you want to convert USD back into CDN if you ever want to.
True. However if they tap that they will have given up a $million in fees and 600,000ish $3.35 wts for the privaledge of more toxic bid pounding convertsble debt.
May 27 thru May 31. Niocorp needs the stock above $3.30 with volume or the debt repayment starts in June to avoid default. Will be interesting to see how they plan to pull that off.
Oh, wouldn’t be wonderful to find an investment that stood on its own merits instead of desperately praying for government handouts?
Did he thank the supporters for the bids that allowed a decade plus of fat salaries, bonuses and the opportunity for him to take $4,000,000 plus fees and interest worth of skin out of the game via toxic financing? Plus giving about a third of the company away for nothing?
The whole deal is a zero. Just an endless steam of bullshit and fat paycheqes and bonuses. Shameless.
Complete bozo.
Idiot. That was the spoon fed excuse that you ate up. Fact is, at that point most spac’s had giant redemption rates. They didn’t buy what MS was selling.
Missed one: Scott, who cuts your hair?
Well it was later in the week. Lol.
Fluff
I remember very fondly the first giant run-up to about $1.80 on the fluff of the TSX uplist from TSXV. That was very, very helpful. Good times.
Probably a good move:
“ Together, TSX and TSXV are the world's leading listing and public capital raising venue for mining companies.”
Since NB has never ever been attractive to mining finance entities its kinda like why bother.
Why do you think I’m vengeful? The only thing I see is a bunch of Molycorp dudes making obscene salaries off the shareholders bids with a shitty project. I think it is a scam. I’m only here for amusement. The only thing I’m really mad about is how Walter tried to threaten Tedro’s ability to feed his family because he stated facts. A douche bag manouver.
I see that you very much like bashing as well. DJT probably deserves your bashing just as Niocorp deserves mine. They just can’t stop keeping to feed me material. Almost as good as the OJ trial was at feeding comedians.
Yes, you are a dreamer bozo.
I don’t. At first I thought it was negotiated for simplifying their year end reporting. But that I think is June 30 so no. An oddity.
Ok then.
Where did the $12,000,000 needed to complete the fs ever come from? It seems very excessive to me at this point. Plus, much of what has been spent in the past long while has to have gone into working on the fs. The old fs dealt with mining operations, that should not change much other than re-pricing for 5 years of increased costs.
Funny seeing Yorkville AND Lind working together on the private placement of notes. What a one-two of institutional support.
Actually you need the price to be above 120% of $2.75 ($3.30) and it has to trade $500,000 worth of stock on each of the last 5 days of the month to have that optionality available.
We have an old friend invested:
“On April 11, 2024, NioCorp Developments Ltd. ("NioCorp" or the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”), with YA II PN, Ltd. (“Yorkville”) and Lind Global Fund II LP (“Lind” and together with Yorkville, the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers, in a private placement (the “Private Placement”), $8,000,000 aggregate principal amount of unsecured notes (the “Notes”). ”
Yorkville financing was pure genious, for Yorkville. Obviously they were told that NB expects great financing news soon, hence the terms. Yorkville gets to convert the whole amount at $2.75. Plus they got 600k + warrants at $3.25. Huge upside win positioning. If NB’s dreams don’t come true then they default. Then Yorkville converts these notes back to the bid banging terms as per earlier terms. No lose! Huge dilution for NB cultists either way.
Niocorp is desperate to have entered into these for a mere two months of liquidity.
I would expect at least a fluff nr early next week to dilute today’s turd nr ahead of presenting to the Euro’s next week. They have about $100,000,000 of skin in this story.
Sorry I missed answering your first question. Then it would be a default. Interest would go to 18%. Then they would be at Yorkville and co’s mercy to renegotiate terms.
It certainly looks that way.
I think they needed money very badly. Being sued at this point while looking for financing would look very bad. Remember the big working capital deficit?
That said, I can not fathom them entering into this shitty dilutive deal on these terms without the belief that default was an option. So, yes, I think they think they have hope that a White Knight rides in.
How anyone can think this was a good deal is astounding. Essentially NB must get financed very, very soon or Yorkville note holders will have them over a barrel.
Default, then notes are due immediately and go to 18% interest per annum.
Deal highlights:
Borrow $8mm and get only $6.96mm. That’s fat fees and a form of pre-paid interest looks like. These notes convert at $2.75/sh.
Looks like $1.4mm/mo payments starting June 1, excluding August.
Unless “equity conditions permit”. Which is trading at $3.30 or above (120% of $2.75) in the last 5 days of each month. They also must have at least $500,000 dollars of trading volume on each of those days.
Plus it gets even better. Inspite of userous terms they get 615,385 warrants for the privalege of screwing Niocorp shareholders because of management incompetance.
They are betting the farm that someone better than Yorkville appears shortly. And they are paying Yorkville note holders hugely for the ante.
10 plus years of being correct is on my side. 10 years of being an incorrect bozo is on your side. Just a pure idiot that is a bozo defined.
Cultist dreamer. The stupidity is so obvious.
Well this is popcorn worthy. Walter being honorable? Belly laugh. Timing on financings are a joke. Cost of FS is crazy at the point where stupid investors gave them over $100,000,000 to date. That makes me silly with pleasure. You idiods gave managment sky hi salaries for nothing. Your money has been transfered into their wealth.
mount Giuseppe. Man, you are upping your game! Lol.
Best post in quite some time.
Check. Pathetic cultist. You will likely lose all.
Check. Pathetic cultist. You are losing and will likely lose all.
Ok. Rio Tinto bought Platina’s scandium depostit for $14mm. It has half of NB’s claimed sc deposit. It is at surface. Just dig it out. Cap costs are less than 1/10 th of NB’s. You think Rio Tinto is going to chase this bullshit ultra high cost deposit? Nope. Pass on that.
Bidding war! Belly laugh. You are smarter than that.
Is Dean coming back to speak to the faithful cultists? He was there to help pump the deal last year.
I’m sure he’s hoping for some big news before speaking to the Euro’s next month who will no doubt be comparing the notes (lies spewed) from last years meeting. Walter said that Dean said “commercial banking loves hard assets” bwahahaha.
Jesus Mary Joeseph. You have $4 or $5 hunded grand bet on those warrants? I might just change stripes and start routing for NB just for you and your heirs. That would be fun. By the way. You have zero shares. You have a warrants. A lot of them!
Ooooo. Your ego just got masssaged. On fluff. Generational weath creation. Didn’t the cultist see 46% dilution in the past year on bozo moves mgmt made while taking raises, big bonuses, and crazy fat option packages that screw them?