Niocorp Developments Ltd (NB)

[Boilermaker1]

But they are interelated
In our current situation we think of time and CAPEX as two separate entities and are happy to see improvements in either one. But, the CAPEX numbers in the FS include the cost of financing. If the mine goes into production and starts generating revenue a year early, you start repaying loans a year early. That year of time savings also produces CAPEX savings because you are paying interest for a year less. The numbers are not tiny. What is a year of interest on a billion $? Maybe 30 million, maybe 50 million??