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Hello Advocate,
I strongly disagree!
My comments were not factually incorrect, as Monocle has kindly explained to you.
Furthermore, my actual question to Walter was how he justified his confidence that the financing would take place in 2024. He was unable or unwilling to answer that objectively.
Have a nice day.
Since you are suggesting that I expect you to do my DD, I think I have to answer again. Your suggestion is simply wrong! I only expected you to justify your claim that the funding will come in 2024. You are obviously not capable of doing that!
And now I have wasted a lot of time with you unnecessarily.
Key points: "Drilling 3 month's ...update FS... It's a 9 month process..."
My main question was why you are so confident.
No matter what I write, it is clear that you do not want to answer questions honestly. I expected that.
eom
Dear Walter,
Scott has explained that EXIM is demanding further drilling and that this will take around 9 months, although it is not even clear where the money will come from to ensure this and the completion of the FS. It should also be clear to everyone that a report commissioned by Niocorp and paid for at £60,000 per year is not something to place too much hope or trust in. There is a reason why there are disclaimers.
We have also heard nothing more about Stellantis, which suggests that the talks that were once so boastfully touted have been fruitless.
I would therefore like to politely ask you where you get the confidence that the financing will be secured in 2024?
Thanks in advance.
Best regards.
gwm
Since you cannot refute any of the rightly raised criticisms with clear facts, you are simply denigrating the critics.
Do you think this is a constructive stance?
This is once again the typical throwing of flash rockets. What do you know about junior mining companies? We were told many years ago that funding was imminent and here we are with a SP at 10 Year low.
That's not a very smart question. If the project was so economical, why didn't we get funding in the past?
I think it's time to say the unpleasant things as well. It is also possible that the feasibility study will come to the conclusion that the project is simply not economical and will therefore be withheld from us. We've been waiting for this for far too long. Initially it was said that the update would only take a few weeks. Until at some point the statement came that the update would cost millions. That's no longer credible. You would just have had to forego the exorbitant salary increases to finance it. I know that I'm calling out the management fans again who are now telling us that that's not the case and that other CEOs earn a lot more and so on and so forth instead of dealing with my core message, the usual distraction from the topic ...
Putz, give it up. He is not interested in other people's opinions. Everyone can now see that his flood of contributions, which he now writes every five minutes, are most of the time nothing more than an ode to the management and, given the catastrophic share price, are characterized by a total denial of reality. Since he accuses anyone who has a different opinion than him of insulting him, I have set this person to ignore. This helps to some extent, but unfortunately not completely, since the replies to his posts are still visible.
Sorry to say this, but a 10-year low is hardly a buy signal, it's that simple.
"Stellantis takes more time than anticipated, high critical leadership turnover in procurement, but seem back on track."
Translated, this means that there is a high probability that Stellantis, like so many other deals before, will not come to fruition.
What's going on with the stock price? Will we see the 1 before the decimal next week? Is this just the opposite manipulation of what we saw last week to chase out the weak hands or is Mark just giving his farewell performance in Belgium and the end is near or what?
Does anyone have a plausible guess that might allay my fears?
I find it very strange that a certain poster here floods the forum more and more with positive posts the lower the share price falls.
Don't let yourself be painted into a corner! It's a popular way for the MS fan community to quickly feel offended if you don't share their opinion. They are good at defaming people who think differently. The same advice is always given that you should finally sell your shares, which would of course be equivalent to realizing the loss in value caused by management through its bad decisions (You probably did it right and left before the big disaster last year). Unfortunately, simply accepting other opinions is not their strength.
Does anyone have an idea how long it will take to provide the required documents for ESIA?
Since this is a prerequisite for EXIM, work on it should be done at full speed or am i wrong?
This reminds me very much of the demo system...
What makes you think that very few shareholders are upset?
Is there any reason to assume that the majority is satisfied with the disastrous performance of the share price?
The fact that we still don't have an updated FS and funding can hardly encourage trust.
At what point did I insult you?
Is it an insult if people don't share your views?
Then you really shouldn't post here anymore!
I sincerely hope that you are right and that at least the six months are adhered to. If enough financial resources are not found by then to at least complete the FS - which of course also has to have extremely positive forecasts - the sad alternative would probably be bankruptcy.
I'll now enter the following dates into my calendar based on your estimates:
- April 24th FS updated / EXIM / Stellantis deal secured?
- May 24th FS updated / EXIM / Stellantis deal secured?
- August 24th Ultimate announcement of Ground breaking (if not, then doomsday as mentioned above)!
In any case, the current development of the share price does not encourage us to look positively into the future. Nothing changes your exaggerated joy about the paltry 2% increase on the last trading day of the week, after we fell by a significant double-digit percentage overall last week!
Let's hope that you are right and that an upward trend will be established next week that deserves to be called an upward trend.
Unfortunately, without news from management, I'm afraid that won't happen.
I remember a few years ago that management felt compelled to comment on a sudden increase in the share price, stating that there had been no disclosed insider information that would have justified this increase in share price.
According to this logic, shouldn't such PR be appropriate now when the price has moved very much in the wrong direction within a very short period of time?
Of course, this is just my personal opinion and anyone who can contribute more than just non-binding optimism blah blah is welcome to contribute reliable facts.
By this I mean, for example, an update on the EXIM homepage if the status of our application has changed or something new from Stellantis, but not advertising events in Antwerp (aren't those also subject to a fee?), where only non-binding, forward-looking statements are made .
Can you please define “sometime soon” in more detail? That would be great!
I read the current share price on Tradegate today, I didn't find €2.46 funny.
Given that we are currently not even in a position to finance the completion of the feasibility study, which, moreover, it is not even said that it will confirm the optimistic predictions made in the past regarding the viability of the project, your predictions are unfortunately not worth much. You can neither say why this will happen nor even give any idea of when it will happen. H1? H2? Next year?
And management is silent...
After you was more confident than ever before some weeks ago, you now only compares our investment to playing the lottery...
Success is measured by results, not the process.
That's right, and the result of the SPAC deal that you praised so much was a disaster!
And you dare to ask a question, what if the EXIM financing came about?!
You can ask this question once this has happened, but not before! Because so far this is just wishful thinking!
Why do you think there is a disclaimer in the forward looking statements section of every official report?
With respect, you wrote:
"Great buying opportunity!"
I don't remember that being a quote from Warren Buffet!
You don't even have the backbone to stand by your statements!
I also didn't claim to know why the price fell today.
By asking if I have a theory about this, you're just trying to pass the buck to me.
What you are advising here is, imo, a bit irresponsible.
If you don't know the reasons for a sharply falling price, the better advice is:
Never grab a falling knife!
The question is, when will they decide?
We are waisting so much time.
Remember, one year ago Mark, Jim and Scott was in DC.
After that we had this disastrous SPAC Deal.
That didn't inspire confidence in the project.
Thank you Gman for the provided Links.
i hope you are right and it makes the necessary difference.
Also the hint that EXIM is not dependent on commercial Banking is helpfull.
I didn't take that into account in my considerations
Well, here he comes again, the next black swan for Mark's collection of excuses.
The time window is closing.
I repeat my question from previous post:
Is there still a real chance that EXIM will support us in a timely manner?
The Oracle of Delphi (or somewhere else in Europe) recently said that he has never been as hopeful as he is now, of course, as always, without explaining what exactly he based this hope on and what a timetable might look like.
I, for one, am more hopeless than ever when I imagine that a new banking crisis is brewing, when I look at the lack of progress on the EXIM side, (after a period of 6 to 9 months was originally mentioned which would end in March) and now the desperate begging about tax advantages.
(Excuse me, now I've mixed 2 topics again, I hope the more intelligent among you can recognice the difference)
These great renderings from Scott don't help either. Instead they should finally finish the FS.
Please don't take me for stupid! I know that myself.
I wanted to point out the current status of things regarding the EXIM loan.
In the last paragraph I just added my opinion about today's NR.
Unfortunately I didn't realize that this could be misunderstood.
Maybe I should have done it better in different posts, because this inaccuracy of my post makes it easier
for you to distract from the actual content of my post. Admittedly, you are very good at this discipline.
If you look at the EXIM page, it doesn't look very encouraging:
https://www.exim.gov/policies/exim-bank-and-environment/pending-transactions
The last entry for Niocorp is from November 8th and data regarding Environmental and Social Impact Assessment (ESIA) is still not available there. An optimist here has already moved the goalposts again and announced that a decision within nine months was never going to be taken seriously anyway. Like so many other predictions that were not kept.
Does anyone here seriously still believe that we will soon get a confirmation from EXIM? (Wrong question, I know some here who are convinced that this promise will come soon, of course without defining it any further. Unfortunately we've been hearing "soon" here for years) If you look at the status of the other projects in the table under the link above , which have been trapped in the same status as Niocorp since 2021, it is to be feared that this will not happen any time soon and that the little red shovel will have to wait another year to be used, if that happens at all.
But of course that is just my personal assessment.
The fact that Mark would like to appear at EXIM again in April is, as of today, an empty phrase. What exactly is the outcome? By then, does he have an FS in his luggage that can convince Reta Jo Lewis to make a positive decision quickly? If not, does such a meeting make sense?
The fact that begging letters are now being written and sent as NRs looks more like an act of desperation, after the management had once emphasized that they did not want to be dependent on the government if possible.
Maybe that's a stupid question: did you check your Spamfolder?
Next Step Reverse Split?
Your response only shows your disrespect for forum members who don't share your opinion.
Instead, it is assumed that they do not know how to read! Ignorance and arrogance are always the refuge when it is not possible to provide a reasonable answer.
Anyway, I'll try again to explain to you why I have a problem with your reference to Investopedia.
You quoted:
"Some insiders are better than others.
Directors know less about a company's outlook than executives."
In doing so, you ignore the fact that Jim Sims (CCO) and Scott Hogan (COO) are not "simple" directors, but rather members of senior management!
As such, they are very much involved in all business processes and decisions, which enables them to help them decide on insider purchases.
If I understand your post correctly, you are trying to make us believe that Jim and Scott are less knowledgeable than Mark?
You're not really serious, are you?
It is not unusual for people to evaluate the same situation differently. For some the glass is half full, for others it is half empty. Of course I hope that you are right and that my doubts are unfounded. However, management's constant failure to deliver on announcements in time is a hint, that we cann't trust their timelines too much. Just one example: They expected the updated FS in 2023 and now it is sometime in 2024.
This means that there are still major doubts about the economic viability that we cannot ignore.
Yes, I noticed that too. There was again a negative outlook hidden in a lot of prose around it.
This absolutely poor communication does not bode well. The share price reflects the rapidly declining trust in management all too clearly. In my opinion, they are not keeping quiet to annoy us, but because there is simply no news that could give us hope that there will soon be a light at the end of the tunnel. Otherwise they would report exactly this information! I cannot imagine that there is suddenly an NDA that prevents us from explaining the reasons why the last announcements were not adhered to, since such an NDA would have already applied beforehand.
For the reasons I mentioned above, I doubt that such an event will take place in the near future. Just like it hasn't happened in previous years.
If I'm wrong, which I hope is the case, I'll try to plan my vacation accordingly and get a plane ticket. This would also be an opportunity to visit my sister in the USA.
Good Morning Walter,
Believe me, I wish you were right just this once. Unfortunately, your predictions are just as unreliable as Mark Smith's.
I'm reminded of a comment you made at the beginning of the year in which you suggested that IBC would be in a much better position in the second half of the year.
And you could list a whole list of misjudgments about Mark and Jim.
The 45 - 60 days until news from Stellantis or the update of the FS in 2023. What about the REE results of the demo system?
As I have already said, it is to be feared that the demo system did not deliver the necessary results to prove economical operation.
With every day that passes without delivering, this suspicion is not denied.
Best regards
gwm
"we may be one of the next in line."
that is nothing more than anxious whistling in the forest!
See Post 104996
Please stop making excuses for every mistake made by management. Jim Sims had announced that the FS would be updated in 2023.
If the presentation on page 41 is secretly and quietly marked with the note "...sometime in 2024", that is simply not okay!