Niocorp Developments Ltd (NB)

[Landmark8211111]

Hi Hans, I see you are new to the board. The estimated CAPEX stated in the PEA2 is $979,000,000 - but myself and others on this board believe that the current CAPEX numbers should - and most likely will, get pared-down in the DFS - due mainly to some "metallurgic cost saving break-throughs" and eliminating some unnecessary and costly infrastructure, that were included in the PEA...

So here are some examples of possible reductions to the FS. IMHO

1) PEA2 CAPEX $979,000,000 - 5% = $930,050,000
2) PEA2 CAPEX -10% = $881,100,000
3) PEA2 CAPEX. -15% = $832,150,000
4) PEA2 CAPEX. -20% = $783,200,000

etc.etc.etc.

So take your pick Hans...your guess is as good as mine at this time.

Cheers