Tuesday, October 14, 2014 2:20:00 PM
Nothing negative has gone wrong with the placement, in fact, we have solid indications approaching 2/3 of the target (and that is largely non-Institutional so far). This week is a very intense Institutional marketing effort with Mark in NY all day today, London tomorrow and Thursday, and conference calls throughout that time. We are actually very pleased with the progress so far, although we did think that Mackie’s thoughts of closing on the 15th was a little aggressive – we expect to close next week by time paperwork comes in from subscribers.
The selling pressure we’ve had for the last week or so, and today in particular, appears to be people trying to flip their position into the placement creating an overhang, in combination with pretty poor market conditions in general over the past month or so. With a full order book those that sold in hopes to get in may be disappointed and will have to buy back into the market. So once we close, I wouldn’t be surprised to see a marked turnaround in the share price with the overhang gone, aside from the expected news flow we have over the coming weeks from continued technical efforts on the project.
Thanks for your patience on this – although it is a tough day in the market, rest assured, all is progressing well.
Regards,
Peter
Peter Dickie, President
NioCorp Developments Ltd.
Suite 525, 999 W. Hastings St.
Vancouver, B.C. Canada V6C 2W2
pdickie@niocorp.com
O – 604-568-7365
C – 604-916-1894
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