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Thanks Walter, that sounds very positive.
From what you picked up in Belgium, when do you think the FS will (finally) be released?
Also: Did anyone confront management and ask for an explanation why the FS was expected „as early in 2023 as possible“ more than one year ago and now, approaching the middle of 2024, it still is not finished???
Yes, I fully expect my children to retire early, in 20-30 years, on the NB shares they will probably inherit from me.
At the 11:10 minute of January‘s investor update, Mark said that it was a conservative estimate that the Stellantis deals would be signed in the first half of 2024.
Don’t worry AO. I put T&T on ignore a long time ago.
If a Stellantis deal was „imminent“, I assume some people would know something and the share price would be going up instead of dropping like a stone.
Maybe the opposite is true, the Stellantis deal (that had been expected months ago) has finally failed and we are the last ones to hear about it.
Light at the end of the tunnel.
It would be interesting to hear whether the sale of (a part of) the company is still an option that management is pursuing.
Yes, just read the PR. Hopefully this trend continues and we start seeing an uptrend in the share price.
You read the first few words of this PR
„NioCorp Joins With Major Automotive Manufacturers„
and start to celebrate that they finally secured financing via a deal with Stellantis. But then reality sinks and in and it’s another fluff PR, even a little desperate if you ask me…
Thanks for sharing that, Walter. Mark sounds a bit fatalistic to me, not the tone of a CEO with a clear path to success in his head.
Yes, no use fretting about the past. With Stellantis and EXIM in the pipeline, probably about to materialize in the first half of 2024, plus an updated FS, we might finally reach the promised land.
And if that happens, all critical investors (even me) will quickly forget the SPAC failure a year ago as well as Mark‘s false promises over the past years.
I was travelling in the train and couldn’t get every word. But if I understood correctly, Mark said that they very conservatively expect the Stellantis deals to be finalized by the end of the second quarter of 2024.
I am wondering what’s holding up the Stellantis deal(s). Does anyone with a closer connection to management have any idea what might be going on? God, all this waiting eventually WILL drive me crazy, though some would argue it already HAS.
Possibly. Jim Sims stated a week ago that they were in the process of raising money to finalize the new F.S.
That’s what I assumed as well. But not according to Jim Sims, who stated as follows a few days ago:
Thanks a lot Chico, for your tremendous contribution to this board and for regularly sharing management‘s responses to your well informed questions.
From Jim‘s most recent replies the sequence of events appears to be that
- first we need additional funding
- second the updated F.S. will have to be completed using these funds.
So in other words: We shouldn’t expect an updated F.S. anytime soon…
As we are very close to our 5 year low, it is very likely that better times are ahead of us. Question is, how much better? Let’s hope for a game changing 2024 for all the longs here on this board.
Happy new year to all of you longs!
PLEASE, put this user on ignore. It's utterly frustrating to see that sensible people like you constantly reply to his/her BS.
I agree, Walter, that this project has become much bigger than what we anticipated 10 years ago.
But don’t you also think that it HAD to become much bigger to make it financially feasible and attract debt and equity investors? I think that certainly a pure niobium play, and probably also a niobium scandium play were not able to attract the 1.x billion investment it needed.
Thanks Walter
It would be awesome, if NB gets a similar deal with Stellantis: A significant offtake agreement, with 100-200 million being paid upfront under a Prepayment Arrangement, and an Equity Investment for another 100-200 million, but only after the new FS and EXIM loan have been announced, i e at a much higher pps. That would soooo sweeeeet!
I have a question regarding a potential equity position by Stellantis in NB:
If they want to invest, let’s say, 200 million dollars US, wouldn’t that mean that at the current share price, nearly 70 million new shares would have to be issued?
FACT is, we just don’t know until any or all deals have been signed. FACT also is, so far all the debt and equity deals, though highly anticipated by management, have failed.
If that’s so obvious, why did Mark Smith say on September 12th that he expects news from a Stellantis deal within 45-60 days?
Not joking at all. But pretty sure that the timeline will be different and I will be proven wrong again. Just like management. The only but major difference is that it’s not me, but management, that is responsible to deliver on their own timelines.
Ok, so here is what we might be looking forward to in 2024:
- the results of the updated FS indicating a NPV of 3.5 billion in early March 2024,
- an offtake for 200 million per year in REE with Stellantis in mid March 2024,
- a grant of 800 million by EXIM by the end of March 2024
- a resulting pps of 30-40 dollars at the beginning of April 2024,
- an equity deal with Stellantis for the remaining financing in April 2024,
- a pps of 60-70 dollars beginning in May 2024.
Stark, I share your feelings of impatience and frustration. However, I really believe they are just trying to be cautious and sticking to the rules. I think they are legally required to first support economic statements with third party evaluation, i.e. a new FS, before they can put out the numbers we are alle waiting for. Have you noticed that it’s not only rare earths, but also the improved recoveries of other products (titanium) that have not yet been connected with higher dollar numbers? I seriously doubt they are allowed to through out these numbers prior to the new FS (which has now been pushed from „as early as possible in 2023“ to the new year). But hey, what’s a few more months waiting compared to the many years we have already been here?
Interesting.
Thanks for sharing.
As far as I know, you can only buy and sell niobw from an American trading account. I opened one here: https://tastytrade.com/
I have approached the company twice and asked for an explanation, no reply.
I find it not very plausible that in September Mark Smith was free to say that both an offtake and an equity deal with Stellantis were more or less finalized and should be announced within 45-60 days, yet 80 days later he is not free to explain why both have not happened and when he now expects them to be done.
It is very frustrating that management misses nearly every self imposed deadline they publicly set.
However, what is even more frustrating and disrespectful is the fact that they don’t stand up in public after a deadline has been missed and explain to us why things have not played out as they anticipated. Just shutting us out and not replying to emails asking for an explanation is not the way you treat your shareholders, imho.
Ha! Have you asked your buddy Mark when this will really finally happen? We, the normal retail investors, are apparently only fed false expectations and no explanations afterwards…
Yeah, the moment that was supposed to happen weeks ago!
Come on, Walter, even you must admit that it is becoming impossible to take anything serious that comes out of Mark Smith‘s mouth. And as far as Jim Sims‘ announcement to publish the results of a new FS „as soon as possible in 2023“ is concerned, I am pretty confident that will add to the never ending list of missed deadlines and announcements. But hey, I guess we’ll see in a couple of weeks…
72 days and counting…
66 days and counting
There’s two ways to make sense of the timing of the AGM on December 29:
Either they anticipate that shareholders will be very frustrated and angry at this year’s AGM and they want as few as possible two express their feelings in person
or they are so busy finalizing the offtake and equity deals with Stellantis, the updated feasibility study and the EXIM debt financing and want to release positive PRs on some or all of these developments before the AGM.
Let’s hope for the latter.
Who would have guessed? 61 days since Mark Smith's presentation, in which he indicated news from Stellantis wiithin 45-60 days, yet still no PR from Niocorp.
Correct. Sept 12th was the event. Sept 20th was the day the YouTube video was put online.
Let’s see whether for once they manage to deliver within the self imposed timeline. If I had to make a bet, I would say they won’t. Just speaking from past experiences and very happy to be surprised.
Correct. I should have been more precise, my fault.
He said that on September 20. The 60 days end in two weeks…