Niocorp Developments Ltd (NB)

[Boilermaker1]

To apply for the air quality permit
you need to finish the design of the SURFACE facilities. One tidbit I got from the presentations was that Nicorp has retained Zachry (a MAJOR engineering and construction company) to start design on the surface facilities. At present Niocorp does not have a lot of money. But they do have a very good plan and deep understanding what needs to be done and when (probably much better than any of us.) They do not spend money on stuff that does not need to be done now. I expect Mark got Zachry started on the surface design because he expects to apply for the permit about mid 2019. There is a list of permits a mile long. They are all in the PEA. What is not listed is how difficult they are to obtain. Some are obviously pretty simple. There is no way financing will have to wait on obtaining ALL of them. They only question is which ones will be required before. Although I am not certain, I believe the Air Quality Permit is needed for operation of the facilities, NOT construction. I am also believe strongly that Scott Honan and Mark Smith do know FOR CERTAIN. This permit gets issued by the State of Nebraska in Lincoln. I can assure everyone that Lincoln Nebraska does not operate like Washington DC (or any major European Capital.) Jim Sims knows his way around Lincoln and knows all the right people. He knows what it will take to get this permit.