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I’m glad to see they did this under different terms than the existing Yorkville credit facility. Much better arrangement here.
I’ve had similar thoughts. Are they working to sell the company rather than generating actual sales. Long term product sales contracts or technology transfer arrangements to multiple competitors would be counter intuitive to a sell-side process to a single entity that wants the whole pie to themself.
Never mind. I was backwards there. Ask is .076. I agree, nobody is selling at .06.
The quote shows over 60k shares for sale at .06. Not sure if those are real, or just market makers doing their thing.
Yep. Over 30% drop on less than $20 of shares transacted. Also no buyers hitting the bid at .06 right now. Wild.
They push the price down intentionally so they can receive more shares for the cash they provide. Then they can lay-off for a bit, let the price go on and back up a little, and they can sell the shares off into the market.
From an email exchange I had with Jim Sims on 12/4/23:
Me:
Is the updated FS a key component to receiving funding from EXIM bank or solidifying off-take terms and possibly an equity investment from Stallantis?
JS’s response:
IT IS NOT YET DETERMINED WHETHER OR NOT EXIM WILL REQUIRE COMPLETION OF AN UPDATED FEASIBILITY STUDY PRIOR TO SIGNING ANY FINAL LOAN DOCUMENTS, BUT AT THIS POINT WE ASSUME THAT WILL BE THE CASE. THAT SAID, EXIM’S DUE DILIGENCE WORK AND NEGOTIATIONS ON DEAL TERMS ARE PROCEEDING FORWARD.
OFFTAKE AGREEMENTS HELP IMMENSELY IN SECURING PROJECT FINANCING, AS YOU KNOW, AND WE CONTINUE TO WORK ON SEVERAL OF THESE ACROSS OUR ENTIRE PLANNED PRODUCT PORTFOLIO.
AN UPDATED FS IS NOT REQUIRED TO EXECUTE ANY STELLANTIS OFFTAKE AND STRATEGIC INVESTMENT DEALS.
As I read Mr. Smith’s letter today. I was thinking the same thing in regards to the remaining 25% of Niobium that isn’t contracted out yet. Good to see you posting again. Thanks!
Part of my email exchange with Jim Sims on 12/4/23:
My question:
Is the updated FS a key component to receiving funding from EXIM bank or solidifying off-take terms and possibly an equity investment from Stallantis?
Jim’s Response:
IT IS NOT YET DETERMINED WHETHER OR NOT EXIM WILL REQUIRE COMPLETION OF AN UPDATED FEASIBILITY STUDY PRIOR TO SIGNING ANY FINAL LOAN DOCUMENTS, BUT AT THIS POINT WE ASSUME THAT WILL BE THE CASE. THAT SAID, EXIM’S DUE DILIGENCE WORK AND NEGOTIATIONS ON DEAL TERMS ARE PROCEEDING FORWARD.
OFFTAKE AGREEMENTS HELP IMMENSELY IN SECURING PROJECT FINANCING, AS YOU KNOW, AND WE CONTINUE TO WORK ON SEVERAL OF THESE ACROSS OUR ENTIRE PLANNED PRODUCT PORTFOLIO.
AN UPDATED FS IS NOT REQUIRED TO EXECUTE ANY STELLANTIS OFFTAKE AND STRATEGIC INVESTMENT DEALS.
Thanks Walter. Same to you and your family! Better year ahead.
Just stumbled across this cool picture on my FB feed. This sits on the west side of the highway, just south of the future mine site. Merry Christmas and best wishes in 2024. I hope everyone is enjoying this holiday week.
📸 Look at this post on Facebook https://m.facebook.com/groups/241634282627903/permalink/5810456679078941/?mibextid=S66gvF
I noticed that right away too. Made me chuckle a little. Friends helping friends.
No doubt there should have been an equity backstop on that deal. I do wonder if either the Stellantis or EXIM connection came from the GX crew involvement now though.
Anytime I email Jim Sims, he responds quickly. Only once have I not got a response and that’s because my same question was already answered in a response he sent to another poster on this board.
My bad. Agree - you’ve always flown solo. I try to keep track of all DM’s accounts and that gets tough to do!
Growth? You used the wrong name of one of your other accounts. All these messages back and forth with yourself using different names makes me wonder sometimes…..
I agree.
No doubt. I think I shrink half an inch every time that agreement is tapped for funds. Need to find a better way, or get the larger deal done. Several years ago, Niocorp was rolling out of the prior convertible debt arrangement and I thought they were pushing/waiting for the SP to hit $1 (pre-reverse split) to limit dilution with the first installment of equity financing. That obviously didn’t happen. The news on Deloitte today was good. Hopefully we’ll get more good news soon.
I was just there for several days last week. The power went out for a few hours one afternoon at our resort. They definitely know “knowledge is power”! Great time of year to vacation there. Enjoy it!
LWLG and NB have both had rough years to date in terms of share price. If you invested in either of these (I have long term personally substantial investments in both) not thinking it’s possible to lose it all, you got in the wrong stocks. Do I even think about selling either right now? Hell no. I’ll make a fortune or I’ll make nothing. I like the risk/reward and have the tolerance for it. I choose to look forward and focus on the opportunity.
Red Flags??? I’m in this for all the green flags. Way more green space than red here. Especially at this SP level. Risk/reward, I’m a buyer.
Opinions are fair, even if they can’t be proven truthful and transparent, but be nice. Tacking on that last sentence doesn’t help your credibility or help you gain trust from anyone. Have a good day.
Takes time to get a new firm in place and also generate and distribute materials. That’s no small task, especially with a new firm involved.
Because they most likely would not have been re-elected. I would have voted no on that. I’m guessing management would have suggested voting no and also done so with proxy votes. Easier for BDO to opt out now to save some reputation by avoiding getting voted out.
Thanks PC! Very encouraging. Great find.
NB - ticker changed with NASDAQ listing.
Ha! Thanks Putz. Made me laugh.
I’m long on LWLG and have been for years, but I don’t fully believe that logic. If there are huge shorts to be covered, they are probably accumulating in the off-market/black pool. There will probably be huge covers some day with little change in share price.
Looks like $200k trades. Guessing that’s what they are if you extend the $4.11 out more decimal places.
Definitely not a requirement. BDO is a large enough firm that they could easily rotate partners that oversee the audit every 5 years.
Scooter - thanks for sharing. It would be interesting to know the full story and how this played out. I’m speculating BDO figured or knew they not going to be retained by Niocorp due to the late filings, etc with the move to NASDAQ. Looks like BDO beat them to the punch by ending the relationship themselves. Niocorp will most likely be better off with a new audit firm anyways.
I must have pissed you off somehow awhile back. I don’t post often lately, and now that’s twice you attacked a post of mine quickly. Please educate me if you don’t think I understand what an off-take agreement is. I love to learn. Thanks.
Why not? The purpose of the FS is to provide support (if needed) to obtain debt financing and/or publicly disclose mineral reserves. If someone wants to enter agreements before then, by all means go for it. Niocorp can make fulfillment legally contingent upon development of the mine and ability to produce.
I can’t argue that. I thought we’d be way ahead of where we’re at now when I started buying shares 10 years ago. I’m not giving up on it now though.
The filing extension is not a big deal. I’m a CPA (inactive now) and have worked for a Fortune 500 company. It’s the first time Niocorp had to prepare an annual filing since the NASDAQ listing. This is complex and takes a team of many internal and external associates to complete. It’s better for them to delay and get it done right the first time. The filing is also subject to the audit firm and their review/guidance process. The GX transaction was complex. Financials and related disclosures need to be spot on for SEC filings. I’m not surprised a bit by the extension.
What if that ingot is make with some of the demonstration plant Scandium and it goes to a 3rd party looking to sign an off take agreement and invest equity capital? Lots of ifs, but could make sense and be a catalyst for financing.
The known existence of outstanding warrants should already be built in the share price. I’m thinking full funding will be in place prior to the rise in share price that allows warrants to be called (over $16.10 for at least 20 out of last 30 days). With full funding in place, Niocorp could allow a cashless exercise of warrants, thus issuing fewer shares and less dilution. As a both a warrant holder and direct shareholder, I hope it plays out that way.
Hopefully showing off a shiny ingot.
I agree that’s most likely what’s happening.