Niocorp Developments Ltd (NB)

[monocle]

My initial reaction to the private placement announcement was extremely negative. I assumed that financing was a good deal further away than we had hoped, probably well into 2019. As I have had time to think though, I'm open to the possibility of those funds might have been necessary for any number of purposes in the short term. Permitting, a revised FS, paying Northcott or Nordmin, or something else altogether. Perhaps financing is possible within the next couple of months.

I disagree strongly with the idea that $3million give us any kind of negotiating leverage. 6 months (at most) is not all that much time. Everyone saw what happened to our share price when the most recent private placement was announced. It is clearly not in Management's best interest to be forced into another private placement early next year.