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Casey, Colleagues Urge Biden Administration to Update Tax Credit Guidance to Support Domestic Critical Mineral Supply Chain
FEBRUARY 16, 2024
In letter, Senators call on Administration to incentivize investment in entirety of US clean energy supply chain, including key Pennsylvania industries
Washington, D.C. – Today, U.S. Senator Bob Casey (D-PA) joined a letter with seven of his colleagues to Treasury Secretary Janet Yellen urging the Biden Administration to allow critical mineral mining and processing activities to qualify for tax credits they passed in the Inflation Reduction Act.
In the letter, the Senators urge the administration to ensure that raw materials and extraction costs are eligible for the 45X Advanced Manufacturing Production Tax Credit. The Department’s initial proposal to implement the credit explicitly excludes these costs, which sharply reduces the value of the tax credit. This update would allow the tax credit to support the entirety of the clean energy supply chain, including innovative critical mineral recovery that is happening in Pennsylvania and across the U.S.
“Congress passed the Inflation Reduction Act in part to support the domestic extraction and production of critical minerals and materials,” wrote the Senators. “The clear purpose of section 45X was to encourage investment in the United States and to build a reliable and resilient domestic supply chain for critical minerals right here at home. The section 45X credit was designed to support responsible domestic mining and processing of these minerals…However, by excluding the majority of the production costs from the 45X credit, Treasury would disincentivize investment in the United States, and also increase our reliance on countries that do not share our democratic or geopolitical values.”
Senator Casey has long fought to ensure Pennsylvania’s industries are included in the development of a clean energy supply chain. In 2023, he secured $2.1 million for research at Pennsylvania State University into the process of recovering critical minerals from acid mine drainage. He also secured $10 million to support Pittsburgh-area clean energy manufacturing, and additional $500,000 to establish an economic hub for the green building supply chain in Southeastern Pennsylvania.
Read the full letter HERE https://www.rosen.senate.gov/wp-content/uploads/2024/02/2.14.2024-45X-Comment-Letter.pdf or below:
Dear Secretary Yellen,
We are writing in response to the notice of proposed rulemaking for the Section 45X Advanced Manufacturing Production Tax Credit. We request that the U.S. Department of the Treasury (Treasury) make revisions to the proposed rule to align the rule with the intent of Congress and to ensure the credit properly incentivizes the entirety of the domestic supply chain for applicable critical minerals and eligible components, including mineral extraction and electric vehicle battery production.
As you know, Congress passed the Inflation Reduction Act (IRA) in part to support the domestic extraction and production of critical minerals and materials, as well as the manufacturing of batteries and their components. Recognizing our increasing foreign dependence on these materials, often from hostile nations, the section 45X credit provides a credit for taxpayers who produce certain critical minerals as well as various energy related products.
We are concerned that Treasury’s proposed rule for the 45X tax credit explicitly excludes direct and indirect material costs for taxpayers seeking to claim the credit. Treasury writes in the proposed rule that “Direct material costs as defined in §1.263A-1(e)(2)(i)(A), or indirect material costs §1.263A-1(e)(3)(ii)(E), and any costs related to the extraction or acquisition of raw materials” are not be included in production costs. The proposed rule goes on to say "…the cost of acquiring the raw material used to produce the electrode active material, the cost of materials used for conversion, purification, or recycling of the raw material, and other material costs related to the production of the electrode active material would not be taken into account.”
The clear purpose of section 45X was to encourage investment in the United States and to build a reliable and resilient domestic supply chain for critical minerals right here at home. The section 45X credit was designed to support responsible domestic mining and processing of these minerals. As members of the U.S. Senate we want to clarify that the blanket exclusion of materials costs is not consistent with the intent of Congress and should be expeditiously revised. Section 45X provides for a 10 percent credit for the production costs of applicable critical minerals, and raw materials costs were never intended to be excluded from this calculation. This exclusion is not aligned with the intent of Congress and significantly weakens the tax credit as the cost of extracting raw materials essential for renewable energy, battery technologies, and other critical materials are a significant portion of overall costs.
Additionally, this exclusion weakens the credit’s intended goal to strengthen the New Clean Vehicle Credit, established under Section 30D of the tax code. The 30D credit is designed to counter influence by any “Foreign Entity of Concern” (FEOC) over clean vehicle supply chains. Key to the success of the 30D credit are the 45X credit’s incentives for domestic mineral extraction and processing. A final rule that excludes materials costs will substantially impact critical minerals supply, increasing the challenges for vehicle producers looking to manufacture clean vehicles in the United States.
Private companies are ready and willing to invest in extraction and production of raw materials right here in the United States, and do so in a safe and responsible manner through developed environmental protection and labor standards. However, by excluding the majority of the production costs from the 45X credit, Treasury would disincentivize investment in the United States, and also increase our reliance on countries that do not share our democratic or geopolitical values. This result would be contrary to the intent of the legislation and detrimental to our national and energy security.
We appreciate Treasury’s caution and intent, noted in the proposed rule, to mitigate the risk of double counting and fraud. However, as proposed, the credit eliminates the ability to even single count direct and indirect materials costs and extraction costs, which significantly weakens the credit’s primary purpose of developing a domestic critical mineral supply chain. The risk of double counting production costs can be mitigated using similar basis reduction mechanics and documentation requirements Treasury and IRS require to calculate the value of investment tax credits under sections 48 and 48C. Similarly, IRS is well equipped with the experience and tools necessary to understand and administer the deduction of expenses related to extraction and can apply these to the 45X credit. Additionally, we believe the statute, which directs the credit to be claimed for components “produced by the taxpayer,” provides flexibility for Treasury to establish other safeguards, such as audit and claw back measures, to prevent any type of fraudulent behavior.
We appreciate your attention to these matters and look forward to working with you as you implement the Inflation Reduction Act.
Sincerely,
Catherine Cortez Masto
United States Senator
John Hickenlooper
United States Senator
Jacky Rosen
United States Senator
Joe Manchin III
United States Senator
Mark Kelly
United States Senator
Laphonza Butler
United States Senator
Kyrsten Sinema
United States Senator
Robert P. Casey, Jr.
United States Senator
Patty Murray
United States Senator
https://www.casey.senate.gov/news/releases/casey-colleagues-urge-biden-administration-to-update-tax-credit-guidance-to-support-domestic-critical-mineral-supply-chain
That's why I'm wondering if it might be to pay the EXIM consultants!
From bah1080
Unable to answer the question...who woulda thunk it?
Then you have to like your own posts to make it appear like someone is interested in what you're saying.
Pathetic.
So you're just here to showcase your self-reported investing prowess?
You got kicked off every other board?
Everyone else has you on ignore?
You feel the need to sow your seed everywhere?
Please enlighten us as to why you're here!?
John Givens Takes the Helm: A New Era for Simulation Training
Muhammad Jawad
15 Feb 2024 08:49 EST
John Givens takes the reins of the NCS Board of Directors, setting the stage for a new era in simulation training. VirTra's advanced solutions, embraced by the 10th Special Forces, offer unparalleled realism and adaptability in training scenarios.
In a significant stride forward for the simulation industry, John Givens has ascended to the helm of the National Center for Simulation (NCS) Board of Directors. This marks a pivotal moment not just for Givens, a seasoned veteran in simulation technologies, but also for VirTra, a company at the forefront of revolutionizing training methodologies. With the backdrop of a buoyant market, VirTra's shares soared to $11.70, brushing its 52-week zenith, a testament to the market's confidence underpinned by Lake Street analyst Jaeson Schmidt's optimistic outlook, pegging a Buy rating with a target of $13.00.
Charting New Horizons in Simulation Training
At the heart of this narrative is the innovative use of VirTra's simulation training software by members of the elite 10th Special Forces Group (Airborne). This cutting-edge technology, laced with artificial intelligence, is redefining readiness, offering scenarios that range from active threats to high-risk entries. The software's intelligent design allows it to adapt to users' decisions in real-time, providing a dynamic training environment. This unparalleled tool is overseen by cognitive performance specialists, ensuring that the training is not only about physical readiness but also about sharpening decision-making skills under pressure.
A Legacy of Innovation and Leadership
John Givens' journey to the chairmanship of the NCS Board of Directors is a narrative of dedication and visionary leadership. With an illustrious career that spans over decades, including a significant tenure as President of Bohemia Interactive Simulations, Givens has been at the vanguard of simulation technology. His election as Chair after six years of active involvement in various capacities within the NCS underscores his commitment to advancing the field. The NCS, under Givens' leadership, is poised to navigate the future challenges of the simulation industry, continuing its mission to foster growth and innovation in modeling, simulation, and training technology.
VirTra: Pioneering the Future of Training
VirTra's role in this evolving landscape is pivotal. As a global provider of judgmental use of force training simulators and firearms training simulators, the company is not resting on its laurels. The use of its simulation training software by the 10th Special Forces Group (Airborne) is a case in point. It offers a glimpse into the future of training, where the use of live ammunition is no longer the only option for achieving high levels of readiness. This paradigm shift towards simulation-based training is not just about efficiency and safety; it's about preparing for real-life scenarios with a level of fidelity that was previously unimaginable.
As we look at the trajectory of VirTra and the NCS under the stewardship of John Givens, it's clear that the confluence of visionary leadership and innovative technology is setting new benchmarks in the industry. The strong market performance of VirTra, coupled with its groundbreaking training solutions, underscores a future where simulation technology is not just an adjunct but a central pillar in training regimens across various sectors. This journey, marked by milestones such as Givens' election and the strategic use of artificial intelligence in training, heralds a new era for simulation technology— one that promises unlimited opportunities for practice, preparedness, and ultimately, proficiency.
https://bnnbreaking.com/tech/john-givens-takes-the-helm-a-new-era-for-simulation-training
Hopefully plenty available from varied sources once (if?) the budget gets signed.
Or maybe the EXIM independent consultants?
Kinda reminds me of this guy...
Perhaps because you were too busy insulting the stock, the company, the board and the people posting on it?
There is an English abbreviation, “FS.” It’s widely used in America as an abbreviation for feasibility study in the categories Environment, Engineering, Business, Hydrology and Mining.
Which one are you in the clip you posted, the sh*t, shinola, jerk, or the jerk’s daddy? 😂
Exclusively my opinion…I think the reason is that there’s no money to finish it. Seriously. I may be talking out of turn here, but I’m guessing that they anticipated that the money to finish the new feasibility study would come from the merger. It did not, and now they are searching for alternatives. I think some of the alternatives are somewhat contingent on other things falling into place.
I do find it compelling that the NDAA includes specific language authorizing DoD to pay, at least in part, for feasibility studies. It even states that it can be for the purpose of securing funding approval (108282). That doesn’t happen accidentally. There is also language allowing “advance procurement” (108283). The govt can’t generally pay for things it hasn’t received. That’s apparently no longer the case when it comes to the stockpile and critical minerals. Couple that with the fact that the stockpile manager “shall” take the various steps to replenish the stockpile (108282) and all of a sudden the picture becomes clearer and the possible benefit to Niocorp more in focus. Language that gets inserted into legislation often comes from lobbying. I am fairly confident that Nebraska Senator Deb Fischer and Congressman Don Bacon didn’t come up with the words "Aluminum-Scandium Master Alloy Production" all by themselves for a $10 million earmark. Did MS anticipate a hiccup and do more on the DC trips than visit museums and check out Cherry Blossoms? I think all the appropriate authorizations are in place to cover at least a substantial portion of what Niocorp needs. I could be wrong. I hope I’m not.
I find it compelling that the DoD is actively and openly throwing large sums of money at domestic/friendly critical mineral production, and the urgency is at every level of government. The NDAA says it's our policy to go after all this (108284). Great emphasis is placed on the potential for cataclysmic shortages due to a failure to strengthen supply chains and procure stable sources
I do differ with you over the idea that an “updated” FS is an “absolute” requirement given that EXIM expressed an interest without it. There is a “current” FS in place and lots of government data on the availability of Niobium, Scandium, and Titanium. Each of those is its own critical mineral and I think even “absolutes” are fungible with this administration as long as they can claim “victory.” Prices swing. I don’t think the gov’t is at a place where it’s overly concerned about prices. It needs domestic sources. Any new info regarding the feasibility of magnetic rare earths is icing on the cake. Again, just my opinion.
Obviously, time will tell, but I think the time of telling is drawing nigh. While the budget snafu is not helping, I don’t think it impacts EXIM and none of that can be placed at the feet of Niocorp. I do think that a full year continuing resolution could potentially be problematic.
The truth is that all we know right now is that everything is still in play and, if we’re lucky, play will be commencing soon with a huge home team advantage. There's a huge opportunity here in both the short and long terms if the funding materializes. As I've said before, better odds than a slot machine. GLTA!
Look at the bright side. Everything is in play until it’s not. As far as we know, no door has closed and we are now officially one week closer to some news.
How to Invest in Scandium (Updated 2024)
February 19,2024
This is an updated version of an article originally published by the Investing News Network in 2014.
Let’s hope the budget gets done soon!
PERPETUA RESOURCES RECEIVES UP TO AN ADDITIONAL $34.6 MILLION UNDER THE DEFENSE PRODUCTION ACT
February 12, 2024
U.S. Department of Defense conditionally awards up to $34.6 million in additional funding to Perpetua Resources, bringing total Defense Production Act Title III funding to $59.4 million.
Defense Production Act Title III funding is designed to support construction readiness activities and environmental studies as the Stibnite Gold Project continues through the permitting process.
The Stibnite Gold Project is poised to be the only domestically mined source of the critical mineral antimony, which is essential for national defense.
https://www.investors.perpetuaresources.com/investors/news/perpetua-resources-receives-up-to-an-additional-34-million-under-the-defense-production-act
May be able to later today or tomorrow, or you’re welcome to copy and paste if you’d like. It’s obviously all open source.
Happy to do the research, you’re welcome. If one follows the dots, they are all connecting.
Everywhere you look, “Critical minerals are critical!” and it looks like there’s plenty of money available with many new funding conduits authorized. Lobbying and legislation and funding and policy changes take time.
Is Niocorp next? I’m buying.
Diamond, niobium play key role in development of quantum detection devices
Staff Writer | February 21, 2024
https://www.mining.com/diamond-niobium-play-key-role-in-development-of-quantum-detection-devices/
Defense Department awards additional $34M for Idaho mine
The Stibnite Gold project will produce a critical mineral needed for national defense purposes.
BY: HANNAH NORTHEY | 02/12/2024
https://subscriber.politicopro.com/article/eenews/2024/02/12/defense-department-awards-additional-34m-for-idaho-mine-00141001
DOD Awards $192.5 Million to Establish Domestic Manufacturing Capabilities for Critical Defense Chemicals
Feb. 1, 2024
https://www.defense.gov/News/Releases/Release/Article/3663086/dod-awards-1925-million-to-establish-domestic-manufacturing-capabilities-for-cr/
Perpetua Resources receives increased DOD funding for Stibnite project in Idaho
Staff Writer | February 12, 2024
https://www.mining.com/perpetua-resources-receives-increased-dod-funding-for-stibnite-gold-project-in-idaho/
Rebuild US brain trust to curb reliance on foreign critical minerals
By Kray Luxbacher
Tuesday, Jan 23
The Opportunity for American Mining in 2024
Posted on January 18, 2024 by Minerals Make Life
The U.S. Military and NATO Face Serious Risks of Mineral Shortages
GREGORY WISCHER
FEBRUARY 12, 2024
https://carnegieendowment.org/2024/02/12/u.s.-military-and-nato-face-serious-risks-of-mineral-shortages-pub-91602
America's EV boom goes bust! Lithium and nickel producers begin mass layoffs and pause multi-billion-dollar projects as US says no to electric car push
Lithium mines have closed and employees are laid off as demands for EVs drop
More Americans turned to hybrid vehicles last year than EVs
https://www.dailymail.co.uk/sciencetech/article-13100353/Slipping-EV-demand-forces-lithium-facilities-pause-production.html
Not really concerned about this, just sharing.
American Rare Earths wants to mine and process these metals – particularly neodymium and praseodymium – through its Wyoming Rare (USA) Inc. unit.
https://americanrareearths.com.au/cowboy-state-daily-rare-earths-discovery-near-wheatland-so-big-it-could-be-world-leader/
No mention of niobium, scandium or titanium. Don't know enough about any of it, but not sure how quickly this could come online and whether it would be any competition.
Domestic production of titanium sponge
The committee is concerned by the ongoing reliance of the U.S. industrial base on non-allied sources of supply for critical materials, notably titanium sponge. With no domestic sources currently producing titanium sponge, the United States is completely reliant on imports for a material that is essential to many critical defense platforms. This dependence on non-allied sources has become even more precarious given the conflict in Ukraine, which has put increased demand on U.S. producers and introduced pricing and supply shocks to the titanium sponge market. Currently, the U.S. titanium industry sources almost all sponge from a single country, calling into question the security of supply. Sources of titanium sponge from allies may not have sufficient capacity or quality to meet defense and aerospace requirements. Absent a domestic source of titanium sponge, the United States will lack the surge capacity required to support defense and critical infrastructure needs in an extended national emergency.
Accordingly, the committee directs the Department of Defense to consider the use of existing authorities to make advanced purchase commitments of titanium sponge from a domestic source for inclusion in the National Defense Stockpile, and assess whether authorities for industrial base support, including the Defense Production Act of 1950 (Public Law 81-774) or the Industrial Base Analysis and Sustainment program, are applicable to titanium sponge production.
https://www.armed-services.senate.gov/imo/media/doc/fy2024_ndaa_bill_report.pdf
Titanium Is a Strategic Metal – And the U.S. Might Not Have Enough
Peter Suciu / Jan 2, 2024
2024 NDAA SEC. 1414. CRITICAL MINERAL INDEPENDENCE.
(a) Definitions.--In this section:
(1) Appropriate committees of congress.--The term ``appropriate
committees of Congress'' means--
(A) the Committee on Armed Services of the Senate; and
(B) the Committee on Armed Services of the House of
Representatives.
(2) Covered country.--The term ``covered country'' means--
(A) a covered nation (as defined in section 4872(d) of
title 10, United States Code); and
(B) any other country determined by the Secretary of
Defense to be a strategic competitor or adversary of the United
States for purposes of this section.
(3) Critical mineral.--The term ``critical mineral'' means a
critical mineral (as defined in section 7002(a) of the Energy Act
of 2020 (30 U.S.C. 1606(a))) that the Secretary of Defense
determines to be important to the national security of the United
States for purposes of this section.
(4) Shortfall material.--The term ``shortfall material'' means
materials determined to be in shortfall in the most recent report
on stockpile requirements submitted to Congress under subsection
(a) of section 14 of the Strategic and Critical Materials Stock
Piling Act (50 U.S.C. 98h-5) and included in the most recent
briefing required by subsection (f) of such section.
(b) Statement of Policy.--It is the policy of the United States--
(1) to expand secure sources of supply of critical minerals,
including rare earth elements, in the United States and in
countries that are allies or partners of the United States to meet
the needs of the United States defense sector so that the
Department of Defense will achieve critical mineral supply chain
independence from covered countries, including the People's
Republic of China, the Russian Federation, the Islamic Republic of
Iran, and the Democratic People's Republic of North Korea; and
(2) that the Department of Defense will procure critical
minerals and products made using supply chains involving critical
minerals that are not mined or processed in or by covered
countries.
https://www.congress.gov/bill/118th-congress/house-bill/2670/text
National Defense Stockpile multi-year procurement for domestically processed rare earth elements (House, Sec. 181)
What is it? Allows the National Defense Stockpile to enter into long-term procurement contracts with domestic rare earth element (REE) processing and recycling projects. The provision includes advance procurement authority, which allows the stockpile to pay projects upfront prior to delivery.
Why is it important? Long-term contracts provide domestic processing projects with customer and price certainty, making the project a more attractive investment and decreasing the risk that price volatility will leave investors in the red. Additionally, advance procurement authority can provide projects with the working capital needed to kickstart production.
https://bpcaction.org/bpc-action-priorities-for-critical-mineral-provisions-in-the-fy24-ndaa/
2024 NDAA SEC. 15. DEVELOPMENT AND CONSERVATION OF RELIABLE SOURCES.
``(a) Duties.--Subject to subsection (d), the National Defense
Stockpile Manager shall encourage the development and appropriate
conservation of reliable sources of strategic and critical materials--
``(1) by purchasing, or making a commitment to purchase,
strategic and critical materials from reliable sources when such
materials are needed for the stockpile;
``(2) by contracting with facilities located in and owned and
controlled by reliable sources, or making a commitment to contract
with such facilities, for the processing or refining of strategic
and critical materials in the stockpile when processing or refining
is necessary to convert such materials into a form more suitable
for storage or disposition or meeting stockpile requirements;
``(3) by qualifying facilities located in and owned and
controlled by reliable sources, or qualifying strategic and
critical materials produced by such facilities, to meet stockpile
requirements;
``(4) by contracting with facilities located in and owned and
controlled by reliable sources to recycle strategic and critical
materials to meet stockpile requirements or increase the balance of
the National Defense Stockpile Transaction Fund under section 9;
and
``(5) by entering into an agreement to co-fund a bankable
feasibility study for a project for the development of strategic
and critical materials located in and owned and controlled by a
reliable source, if the agreement--
``(A) limits the liability of the stockpile to not more
than the total funding provided by the Federal Government;
``(B) limits the funding contribution of the Federal
Government to not more than 50 percent of the cost of the
bankable feasibility study; and
``(C) does not obligate the Federal Government to purchase
strategic and critical materials from the reliable source.
``(b) Additional Authorities.--
``(1) Extended contracting authority.--
``(A) In general.--The term of a contract or commitment
made under subsection (a) may not exceed ten years.
``(B) Preexisting contracts.--A contract entered into
before the date of the enactment of the National Defense
Authorization Act for Fiscal Year 2024 for a term of more than
ten years may be extended, on or after such date of enactment,
for a total of not more than an additional ten years pursuant
to any option or options set forth in the contract.
``(2) Matters relating to co-funding of bankable feasibility
studies.--To the extent authorized by Congress pursuant to the
Defense Production Act of 1950 (50 U.S.C. 4501 et seq.) and
determined to be required by the President pursuant to that Act,
the National Defense Stockpile Manager may provide for loans or
procure debt issued by other entities to carry out a project for
the development of strategic and critical materials with respect to
which a study was carried out under subsection (a)(5).
``(c) Proposed Transactions Included in Annual Materials Plan.--
Descriptions of proposed transactions under subsection (a) shall be
included in the Annual Materials and Operations Plan. Changes to any
such transaction, or the addition of a transaction not included in such
plan, shall be made in accordance with section 5(a)(2).
``(d) Availability of Funds.--The authority of the National Defense
Stockpile Manager to enter into obligations under this section is
effective for any fiscal year only to the extent that funds in the
National Defense Stockpile Transaction Fund under section 9 are
adequate to meet such obligations.
``(e) Bankable Feasibility Study Defined.--In this section, the
term `bankable feasibility study' means a comprehensive technical and
economic study--
``(1) of the selected option for a strategic and critical
materials development project that includes appropriately detailed
assessments of realistically assumed extraction, processing,
metallurgical, economic, marketing, legal, environmental, social,
and governmental considerations and any other relevant operational
factors and detailed financial analysis, that are necessary to
demonstrate at the time of reporting that production is reasonably
justified; and
``(2) that may reasonably serve as the basis for a final
decision by a proponent of a project or financial institution to
proceed with, or finance, the development of the project.''.
(2) Conforming amendments.--
(A) Significant stockpile transaction change report.--
Section 5(a)(2) of such Act (50 U.S.C. 98d(a)(2)) is amended by
striking ``the Board'' and inserting ``the National Defense
Stockpile Manager''.
(B) Materials research and development.--Section 8(a) of
such Act (50 U.S.C. 98g(a)) is amended--
(i) in paragraph (1), by striking ``or in its
territories or possessions,'' and inserting ``its
territories or possessions, or in a reliable source''; and
(ii) in paragraph (2), by striking ``in order to--''
and all that follows and inserting the following: ``in
order to develop new sources of strategic and critical
materials, develop substitutes, or conserve domestic
sources and reliable sources of supply for such strategic
and critical materials.''.
(C) Definitions.--Section 12 of such Act (50 U.S.C. 98h-3)
is amended by striking paragraph (3) and inserting the
following new paragraph:
``(3) The term `reliable source' mean a citizen or business
entity organized under the laws of--
``(A) the United States or any territory or possession of
the United States;
``(B) a country of the national technology and industrial
base, as such term is defined in section 4801 of title 10,
United States Code; or
``(C) a qualifying country, as defined in section 225.003
of the Defense Federal Acquisition Regulation Supplement or any
successor document.''.
https://www.congress.gov/bill/118th-congress/house-bill/2670/text
The Act authorizes fiscal year appropriations principally for the Department of Defense, Department of Energy national security programs, Department of State, and the Intelligence Community. Signed into law 12/22/2023
************************
As of April 2023, current NDS inventory mitigates less than half of estimated strategic and critical materials shortfalls for military requirements; less than 10% of essential civilian demand shortfalls; and approximately 6% of total net shortfalls in “base case” national emergency scenarios.
The FY2023 stockpile assessment discovered net shortfalls in 88 materials valued at $14.83
billion.
https://crsreports.congress.gov/product/pdf/R/R47833#:~:text=As%20of%20April%202023%2C%20current,base%20case%E2%80%9D%20national%20emergency%20scenarios.
VirTra CEO John Givens Appointed as Executive Committee Chair for National Center for Simulation
https://finance.yahoo.com/news/virtra-ceo-john-givens-appointed-130000704.html
It's Valentine's Day, show some love! ❤️ The government can’t pass up this opportunity and comes through with money for the feasibility study, the EXIM loan gets approved, and DoD fronts a bunch of cash to build the project under their new advance procurement authority, along with additional off-take agreements. Stellantis jumps on the train. The share price soars!
Raise your hand if you think the gov’t is overwhelmingly concerned about a loan for approximately $1 billion for materials required for defense, supply chain security, green energy advancement, lasers, and a host of other things. Keep in mind it’s a loan that will be researched and scrutinized, and is expected to be paid back over time with interest.
It’s not a handout.
https://www.cagw.org/media/press-releases/citizens-against-government-waste-releases-2023-congressional-pig-book
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. 😂