Niocorp Developments Ltd (NB)

[NavyHusker]

MS's statement that this is a primary Niobium mine is flat out wrong and misleading. Hard to guess why he's using that approach. Based on the FS top line numbers the combined revenue for Niobium and Titanium is $193mm/yr. The revenue (based on, as Kaiser said, fantasy numbers) for Scandium is $378mm/yr. It's IRR, in the mining sector in general is weakish even when using "aggressive" sc prices. Also, the FS bases returns on 100% equity. There is no allowance for interest on debt. Ah heck, I'm a math guy.

GLTA

I disagree. MS is having to deal with reality in trying to get the project funded and built. NioCorp is a niobium company first and foremost ... for right now. The reality is that we have 75% of niobium production sold for the first 10 years. Titanium dioxide has an established market & is along for the ride providing a decent additional revenue stream.

There is no real scandium market as of yet because there is no reliable supply with sufficient quantity. If the scandium market materializes because there is a supply and a demand, then things may change and scandium may be the cash cow.

You can gripe and complain about the pricing used for scandium because the reality is that until there is a sufficient market, it is a moot point and a guess by anyone who tries to say so. The market for any commodity is based upon available supply and what someone is willing to pay for it.

Petroleum was available in the mid-1800s but had little market demand until the automobile was invented. http://www.businessinsider.com/timeline-155-year-history-of-oil-prices-2016-12" rel="nofollow" target="_blank" >http://www.businessinsider.com/timeline-155-year-history-of-oil-prices-2016-12. Even then prices were generally around the $20/barrel in 2014US$.