I'm posting this email with permission from Peter, I asked him to answer some common questions from the message board:
The funding we are undertaking will be sufficient to complete the remaining drilling operations as well as metallurgical pilot plants, the feasibility study and related costs. We believe that the current second phase drilling will be sufficient to move enough material into the Indicated or higher category for use in the feasibility study. We do not need to move all of our resource into that category at this time, only enough to satisfy the “big” bankers who will raise us the necessary capital to construct the operations (generally speaking that is 20 + years of material). The phase 3 portion of the drilling is a 3 hole program that will only be undertaken if the phase 2 results do not move enough material into Indicated or higher categories for our needs. Until the results of phase 2 are determined, we will not know if it is necessary. By the time we are done phase 2, a total of about 40 drill holes will have been completed between current programs and historic drilling. If the suggestion is that we will need to do an additional 50 holes to reach our target resource, that is not correct.
As far as news releases not reaching some US people, we use a news dissemination service that provides very broad coverage in both the US and Canada, including a number of the locations listed in your note, and is also picked up elsewhere in the world. At the same time, when we issue a news release regarding a capital raise, unless we are filing a registration statement in the US, (which we are not in this case) we are not legally allowed to send news related to the financing to any US individuals. It is a funny rule that obviously pre-dates the internet, as US individuals can access the news over various media outlets or from our website, but we are prohibited from soliciting orders from the US, so we cannot send the news direct.
Hopefully that answers your questions. If you have any others, don’t hesitate to get in touch.
Regards,
Peter
Peter Dickie, President
NioCorp Developments Ltd.
Suite 525, 999 W. Hastings St.
Vancouver, B.C. Canada V6C 2W2
pdickie@niocorp.com
