Niocorp Developments Ltd (NB)

[Boilermaker1]

Okay fine, suppose Sc is $2000/kg
I thought sometime back we agreed that the project is more or less "break even" on Nb and Ti ALONE, without Sc. Since that time the price of Nb and Ti has gone UP. 103 tonnes/yr of Sc at $2000/kg is $206 million/yr. At $3000/kg it is $309 million. You have at least 200 million or 300 million to service the debt and pay dividends on a project that is now liikely has a CAPEX under a billion. If the 2000 number is correct, then Niocorp is a good investment. If 3000 is correct, it is a great investment. Personally, I prefer great investments, but I got no problem with good investments. We do not know what the project will actually cost. We know what eliminsting the water line saves, but don't know what freezing will cost. But we also know that the schedule has been shortened significantly. I am guessing a year of interest on a billion is roughly $50 million. If the mine starts producing a year early that is a 50 mil savings in interest.