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You’re welcome! Direct loans are issued with the full faith and credit of the United States government. They are not commercial loans that are guaranteed, or government backed loans, they are government loans from a government that sorely needs and wants these products (and publicly expresses same regularly).
The window is not closing. That timeline was never set in stone and had a number of moving parts. As long as it’s listed as pending, it’s pending.
No U.S. project have been pending since 2021 since EXIM didn’t even approve its own rules for domestic projects until 2022, so there are no domestic projects under Make More in America pending since 2021. Projects in other countries have a multitude of other issues to contend with and don’t have the same backing for the same reasons as domestic projects.
https://www.sullcrom.com/insights/2022/March/US-EXIM-new-domestic-financing-program-expected-to-be-approved-in-spring-2022
EXIM sets their own interest rates and terms within their own guidelines.
https://www.exim.gov/resources/commercial-interest-reference-rates
EXIM direct loan approval is not contingent on commercial banking status. The money comes from the U.S. gov’t so they can take greater risk on bigger loans.
https://en.wikipedia.org/wiki/Export%E2%80%93Import_Bank_of_the_United_States
Thanks for the insight. Is that on a possible spike on the news, or after it settles pre-production? I was curious more in terms of the spike, and I’m hoping for $20-$25. I think the next 3 years would be contingent on world events and positive and timely construction updates.
Let’s play a game! Let’s pretend that EXIM and Stellantis funding is confirmed this week, and Niocorp has the number it needs. Where does the share price go in the short term? Interested in all, but particularly interested in what the basher crew thinks on this.
To clarify: This is soliciting speculation for entertainment purposes only. No knowledge of future events is expressed or implied!
And how many agencies/sims are represented? Looks like 8-300s, 1-100, a box of 500-recoil kits and a box of 50-XR headsets. Or not. 😂
FY24 Implementation of De-Escalation Training Act—Community Policing Development
This program has one open solicitation. The Law Enforcement De-Escalation Training Act of 2022 directs the U.S. Department of Justice to develop or identify existing training for law enforcement officers and covered mental health professionals regarding (i) employing de-escalation tactics and alternatives to use of force; (ii) safely responding to an individual experiencing a mental or behavioral health or suicidal crisis or an individual with a disability, including techniques and strategies that are designed to protect the safety of that individual, law enforcement officers, mental health professionals, and the public; (iii) successfully participating on a crisis intervention team; and (iv) making referrals to community-based mental and behavioral health services and support, housing assistance programs, public benefits programs, the National Suicide Prevention Lifeline, and other services.
In addition, the U.S. Department of Justice is expected to establish processes to certify training programs and courses offered by public and private entities to law enforcement officers and covered mental health professionals and to terminate the certification of a training program or course if the program or course fails to continue to meet the standards under the training curricula developed or identified. The primary goal of this program is to develop and support a training approval program as specified in the Law Enforcement De-Escalation Training Act of 2022. The project must focus on the development and pilot implementation of a standards-based approval process and promotion of its use and benefits to the law enforcement field. Applicants should plan to address their experience and
capacity with establishing substantive curriculum standards, managing certification or approval processes, evaluating training, and working with diverse stakeholders.
All awards are subject to the availability of appropriated funds and any modifications or additional requirements that may be imposed by law.
There is one award for up to $750,000 available through the FY 2024 Implementation of De-Escalation Training Act CPD program. The award is two years (24 months) in length. There is no local match.
https://cops.usdoj.gov/pdf/2024ProgramDocs/cpd_de_escalation_training_act/Pre_Award_Fact_Sheet.pdf
Agree 100% re the labeling. RC wasn't able to capitalize on the MJ/CBD hype and now it's just a distraction from the product.
But, happy to see some movement with this instead of just being a lost cause in the portfolio.
Thanks, I hadn’t seen that.
When did that change? From 10/23…
Nice find! And what better feather could EXIM and the Biden/Harris Big Top put in their collective caps in the next couple of months than Niocorp? There's nothing else similar pending and likely able to be finished before the election.
But But But, the GOVERNMENT would be involved!!! But that would be terrible!! Worst case scenario!! Clearly this project has no commercial viability because, well, you know, it's just that bad an management is bad too!!
Whatever. Buy or cry, that's where we're at. 🙂
I knew it was too good to be true!
None of those have anything to do with how EXIM lends money.
Did you forget what you wrote? You specifically mentioned "the company," which last time I looked on this board, was Niocorp.
Give your PM time, he’s working on it. 🤣
The only historical data that exists for domestic EXIM loans is that they were approved in 2022 and the first one was made in 2023.
If you’re looking for historical data, look at everything that has changed in the last three years regarding supply chains, critical minerals, and domestic funding by multiple agencies, all well short of 5 years.
No clue what you’re referring to when you talk about historical data for this company‘s application being a seamless event? The company applied and the process has been moving forward. Niocorp is aware of what is required for the application and is presumably attempting to comply with those requirements.
All that being said, if they walked into this with blindfolds on and were not in a position to provide everything that would be needed, then that would be very foolish. Let’s hope that’s not the case.
In any case where a funding decision takes that long, it is most likely the fault of the applicant vs the processor. I’m not sure how many Third World countries you’ve traveled to, but their documentation is generally lacking on a good day.
EXIM has established procedures for the information that they need, and specific steps and timelines once the request passes certain approval phases. No reason to think Niocorp isn't fully onboard with ensuring the requisite information isn’t provided as quickly as possible.
Not sure where you’re getting 5 years from? Perhaps if you’re trying to build a mine in the middle of nowhere in Africa and have to navigate a multitude of complicated international issues, but that isn’t the case here. With the tailwinds from the President, Congress, the military and the private sector, there is no indication that this is going to take anywhere near that long for a final disposition.
EXIM made its first domestic loan in August 2023.
Niocorp applied to EXIM in February 2023. EXIM issued a letter of interest in March. Niocorp filed the full application for Phase 1 in June. The application passed Phase 1 on October 2 and is now on to Phases 2 and 3 and still within the stated average processing time frame of up to 9 months, even if using the original application date in June. Niocorp was placed on the pending list on 11/8/2023.
https://www.niocorp.com/niocorp-issues-2023-year-in-review-report/
I’m not sure why you think all the “prerequisites and red tape” are a bad thing when we’re talking about almost a billion dollars (up to 80% of project cost). In addition to a loan, which has to be paid back by the company once production starts (no dilution), there is also the potential for basically free money from agencies which does not have to be paid back (no dilution).
EXIM financing was not available for domestic projects until fairly recently so whatever government funding they didn’t want in 2018 is not what’s available now. They tried what was available or what they had access to and it didn’t work. For all intents and purposes, EXIM is a bank and it operates like a bank, with a virtually unlimited supply of funds secured by the gov’t, flexible interest rates and liberal repayment options. So, it is still very much the old fashioned way.
https://www.jdsupra.com/legalnews/exim-bank-s-new-domestic-finance-5479330/
The critical mineral and supply chain issues were not as much in focus in 2018 as they are now, so the tailwinds for the project that exist today were not there 6 years ago.
Please explain why government funding is “the absolute worst possible choice.”
I’ll wait.
Curious what “bring justice to the victims of this horrific SPAC deal” looks like in the real world? Would be most appreciated if you don’t create more “victims” in your quest.
NioCorp to Host Live Investor Webcast on January 19, 2024
CENTENNIAL, Colo. (January 16, 2024) – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (NASDAQ:NB) (TSX:NB) is pleased to announce that it will host a live investor webcast at 8:30 a.m. Mountain on Friday, January 19, 2023. Participants in the webcast must register here: https://events.teams.microsoft.com/event/5af5753b-a150-43f5-91e5-ec195f9e9305@17934c82-3f5c-4fe1-8ae2-75bee4d8acbb
NioCorp's special guest for this webcast will be Dr. Andrew Matheson of NanoScale Powders (https://www.nanoscalepowders.com), who is working with NioCorp on its phased commercialization program for aluminum-scandium master alloy.
Following NioCorp's presentation, a question-and-answer period will commence.
CONTACTS:
Jim Sims, Chief Communications Officer, 720-334-7066
Email: jim.sims@niocorp.com
Good article. How Critical Minerals Became So Critical
by Jordy Lee Calderon, a program manager at the Payne Institute for Public Policy at the Colorado School of Mines.
Published October 31, 2022
https://www.milkenreview.org/articles/how-critical-minerals-became-so-critical
Looking at the other presenters at the Emerging Miners Session, only one appears to be a potential "close" competitor (ignore any mentions of gov't funding assistance because, well, ya know, it's the mark of losers):
Rare Earth Element Resources Ltd. (OTCMKTS: REEMF)
https://www.rareelementresources.com/home
https://www.rareelementresources.com/bear-lodge-project/overview
https://www.rareelementresources.com/docs/default-source/pdfs/moneyshow-final-ppt-10-24-23b.pdf?sfvrsn=2
https://cowboystatedaily.com/2023/10/10/the-44-million-bet-to-make-wyoming-ground-zero-for-rare-earth-elements-in-u-s/
A demonstration plant in Upton, Wyoming, is a $44 million bet that a process developed by Rare Earth Elements will help the U.S. become a leader in processing rare earths and loosen China’s stranglehold on a vital market sector.
The bet is not being taken by Rare Element Resources alone. The Department of Energy is putting up about half the cost, and Wyoming Energy Authority is kicking in another $4.4 million.
https://www.rareelementresources.com/investor-information/overview/2024/01/05/rare-element-resources-announces-plans-for-management-change
January 5, 2024 – Littleton, Colorado – Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) announces that its President and Chief Executive Officer Brent Berg, has notified the Company that he will resign his position effective April 2, 2024, or earlier at the discretion of the RER Board of Directors (the “Board”). Mr. Berg, who has held that position since November 1, 2022, advised the Company that he will be moving to a new opportunity outside of the rare earth industry. Mr. Berg will also resign from the Board effective on the same date.
The others:
ElementUS Rare Earth & Minerals (private?)
https://elementusaminerals.com/
https://wgntv.com/business/press-releases/ein-presswire/653903288/elementus-successful-in-part-i-of-department-of-energy-loan-programs-office-400-million-application-invited-to-part-ii/
GRAMERCY, LA, USA, September 5, 2023/EINPresswire.com/ -- ElementUS Minerals (Company), whose process will extract and refine strategic minerals, including iron, alumina and rare earth elements from bauxite residue waste with a low carbon footprint and zero mining impact, has announced that it has been invited to submit a Part II Application for a loan guarantee under the U.S. Department of Energy (DOE) Title 17 Clean Energy Financing Program.
https://www.theadvocate.com/baton_rouge/news/business/st-james-plant-gets-to-next-phase-of-federal-funding/article_0934ed50-4c2a-11ee-a27a-5734cab1754a.html
Mosaic Company (NYSE: MOS)
https://www.mosaicco.com/
https://projects.wuft.org/priceofplenty/futures/rare-finds-floridas-phosphate-mines-source-of-rare-earth-elements/
As a next step, Zhang, a national research team and The Mosaic Co., the largest phosphate mining company in Florida, have proposed a commercial demonstration plant on mining lands that would process rare earth elements from phosphoric acid sludge.
So far, Mosaic officials have deemed the steep capital and operating costs too high to justify beyond the lab and pilot scale. In a presentation to the U.S. Energy Association, the company reported the process is not yet economically viable “without significant government financial support, cooperative arrangement or other business incentives.”
https://usea.org/sites/default/files/Gulf%20-%20Amiri%20-%20GCR%20Workshop%20on%20Critical%20Minerals%20Sustainbility%20Mosaic%20Slides_January%2019%202021.pdf
Metis Endeavor (private?)
https://www.metisendeavor.com/
Mission: Create significant equity value alongside our partners and investors while ensuring we have the minerals needed for a clean and resilient future.
Doesn't look like they do any mining or production more an investment and management company.
Totally unrelated to the workshop, but just because I stumbled across it...
https://alaskapublic.org/2023/12/01/federally-funded-project-will-search-for-rare-earth-elements-in-southeast-alaska-seaweed/
I have no idea why they did it, and that’s a question that should be answered by management soon. Maybe there was a good reason. Maybe it was a component of required due diligence for something bigger. I don’t want to think it was a drunken oops purchase, or a hey look at us purchase for the sake of spending money that isn’t there. Either way, now it’s spent, and $76 or $76500 wouldn’t have gotten the hole dug.
No argument, but if a frog had wings, it wouldn’t bump its ass when it moves. I know people are unhappy with the past, but it’s the past and not you, me, this board, MS, EXIM or Stellantis will change that. I’m focused on the future.
£60,000 = approx $76,500 (not $102,000)
Pretty sure the EXIM loan would most likely be a fixed rate direct loan, not a bank loan backed by EXIM (not a “gov’t backed loan”), so the interest rate could be lower than conventional financing.
My guess would be the FS, which should have been completed some time ago. The Stellantis agreement specifically says:
My guess is that Lynas and MP have existing sources and processing capabilities, and are adding/improving domestic operations in the U.S.. NioCorp does not, YET. The govt can’t usually throw money at things that don’t exist. EXIM loan and the NDAA may likely change that.
If one is to believe management, they have been hard at work trying to secure funding for alloy production (looks like they probably will get some), the NDAA, working on off-takes and other funding sources. Despite the past, I have no reason to think any of those things are untrue, and we will likely hear definitively in the not too terribly distant future whether their efforts are bearing fruit.
You’re welcome. Thankful that my other major holding is doing exceptional well lately. I’m just waiting for this to pop. No indication I’ve seen to think that the processes aren’t moving along the way they’re supposed to.
Congress made another baby step toward the 2024 budget today but remains to be seen if they can agree on the distribution of funds.
Revolutionizing Shooting Range Excellence: Action Target Unveils Cutting-Edge Solutions at SHOT Show 2024
January 23rd – 26th, 2024. At Booth #12816
Action Target invites attendees to embark on an immersive journey into the future of shooting range technology, where innovation knows no bounds. Renowned for providing a comprehensive end-to-end solution for shooting range facilities across commercial, law enforcement, educational, and military sectors worldwide, Action Target sets the bar for excellence. Our commitment to success is unwavering, simplifying the process for customers who seek to build, expand, or elevate their shooting range facilities. Working with key industry partners like VirTra, Redguard, and AutoTargets further expands Action Target’s capabilities and provides unique solutions often required as part of our customers’ training facilities.
https://drj.com/industry_news/revolutionizing-shooting-range-excellence-action-target-unveils-cutting-edge-solutions-at-shot-show-2024/
3 Stellar Stocks That Could Make You a Millionaire by 2026
Three exceptional stocks with the potential to turn investors into millionaires by 2026
5d ago · By Yiannis Zourmpanos, InvestorPlace Contributor
Amidst economic fluctuations, these companies showcase their adaptability, strategic edge and focus on innovation.
-VirTra (VTSI): It launched V-XR, garnering substantial market interest and preorders across multiple sectors.
-RCM Technologies (RCMT): RCM has navigated market fluctuations and strategic shifts with sustained growth.
-Bel Fuse (BELFB): It showcases sales stability, diversified market growth and improved gross margins.
VirTra (VTSI)
To begin with, VirTra (NASDAQ:VTSI) launched V-XR, an advanced headset-based training platform catering to law enforcement, government, security agencies, hospitals, educational institutions and criminal justice academies. The new product received a strong market response, resulting in hundreds of inquiries and preorders, signaling substantial product interest and potential revenue generation.
Furthermore, V-XR’s extensive range of use cases positions it uniquely in the market. Its ability to focus on developing critical interpersonal skills provides value to various professional sectors. This fosters product interest and potential growth opportunities across multiple industries. The company uses AI-driven research and development to revolutionize content creation and data analytics processes. VirTra plans to generate realistic content and analyze training data by leveraging advanced algorithms and machine learning. Thus, the objective is to enhance the adaptability and effectiveness of its simulation training solutions.
Finally, the company reported significant bookings totaling $20.1 million for the first nine months of 2023, with a backlog of $16 million. This backlog includes various contracts that are yet to be recognized as revenue. Therefore, this indicates potential top-line and market-value growth, evident in VirTra’s historical revenue growth, delivering a 54% year-over-year (YOY) revenue growth in Q3.
https://investorplace.com/2024/01/3-stellar-stocks-that-could-make-you-a-millionaire-by-2026/
https://www.nasdaq.com/articles/3-stellar-stocks-that-could-make-you-a-millionaire-by-2026
AO - No change in status from original posting on the EXIM pending transactions page
Further NEPA action required?: PENDING
Estimated Annual CO2 Production of Project (tonnes/yr): TBD
Date ESI Available: NOT YET AVAILABLE
https://www.exim.gov/policies/exim-bank-and-environment/pending-transactions
No listings on 2024 Board Agenda
https://www.exim.gov/news/meeting-minutes
The race to produce rare earth materials
January 05, 2024
Spoiler alert: Niocorp is not mentioned (whew, got that out of the way). It’s more about recycling and other less conventional means to obtain them, but it does talk about the govt interest and role in funding.
https://www.technologyreview.com/2024/01/05/1084791/rare-earth-materials-clean-energy/
It was directed at anyone smarter than me! 🤣 $25 is a good number, and the top of my original target from forever ago of $20-25. Thanks Fish!
$30 would be a beautiful day. Question for you smart people…what do you think a fair buyout be if that were in the cards?
So tempted to sell this time, but really wanna know what’s behind the curtain here!