Niocorp Developments Ltd (NB)

[Husker1854]

Covered conservative nature of Capex, NPV, and IRR. Most projects go over budget and we, feel it is important not to disappoint and took an extremely conservative first take. Remember 184 was contingency and 82 million was owners costs. 160 was infrastructure, 357 processing facilities, and 136 for the mine.

Using three different valuations, our stock is undervalued by all three. Using a percentage of NPV, it should have a market cap of between 182 and 240 million USD. Using a comparison to Niobec, it should be worth 240 and 320 million USD. Using a projected cash flow method after checking with three investment banks, 1.25 billion to 1.96 billion USD.

Mark then pointed out he leaves it to us to pick a method, but as of the close of Friday the current market cap stood at 124.7

He also strongly reiterated that he is still the largest share holder, and feels comfortable with this project. Final PEA trying for mid May..