Niocorp Developments Ltd (NB)

[tedro84]

Not completely off base.

Largo mines different minerals with established markets. Niocorp’s primary revenue source is supposed to come from a currently nonexistent market. If it was purely Nb then a Largo comparison would be an underestimation.

Largo is an existing mine. Niocorp is an untapped resource. Largo’s capex was under $300MM. We know Niocorp’s needs. They are significant.

I thoroughly analyzed Largo 18 months ago and decided not to invest. My primary reason was because I didn’t want to buy into an underperformer in a struggling country with uncertain political ramifications. From a purely investment standpoint this was obviously the wrong decision, but given the information available at the time I would make the same decision today. This is where Niocorp differs.