Niocorp Developments Ltd (NB)

[Middleborder]

Toronto Pete;

What is more likely is that they obtain Commitments to finance the total or close to the anticipated total amount needed. If they have an actual disbursment of 20-30% of the amount needed they can begin site preparation operations.

They do not want to start paying or trading equity for interest on money that has not been disbursed for operations. They do need to know that the money will be available when needed. If they are working with a consortium it will probably involve at least one investment banker or partnership that committed to providing funds at a later time.