Niocorp Developments Ltd (NB)

[tedro84]

I don’t think that is accurate. Do you have a source?

Molycorp’s project Phoenix was primarily funded by equity and bonds while the share price was high due to speculation in REE’s. For instance, the initial funding came from the IPO that garnered nearly $400MM when the price was at $14/share. There were secondary offerings after this. The company’s downfall started with the acquisition of Neo and the bonds associated with that billion dollar investment. It appears Apollo Management and Oaktree Capital were the top bondholders. Oaktree later provided a secure loan that gave them seniority in the bankruptcy filings.

Goldman Sachs and Traxys were both involved in the initial purchase of Mountain Pass from Chevron. I think they also provided some of the initial capital after the purchase.

https://www.traxys.com/upload/cms/press_pdf/34173cb38f07f89ddbebc2ac9128303f.pdf

https://www.wsj.com/articles/molycorp-creditor-oaktree-scores-with-savvy-move-1435525937

https://www.forbes.com/sites/nathanvardi/2015/03/23/the-rare-earths-stock-market-failure-60-minutes-forgot/#267ca9d155e2

http://fortune.com/2011/11/18/molycorps-1-billion-rare-earth-gamble/