Niocorp Developments Ltd (NB)

[tedro84]

No. The topic was whether or not a material change requires an update to the FS. There is no dispute that material changes or new information must be disclosed. Per Maxz apparently the change also needs to be reflected in the FS. My understanding was that only changes to the resource reserves would require the FS to be updated, but apparently Jim suggests differently so we will go with that. Bottom line though is that capex changes to the FS are secondary to contract negotiations with EPC firms, i.e. Nordmin, presumably. That deal will be done before financing occurs and institutional investors care a lot more about those hard numbers than any +/- 20% numbers in the study.