It is reasonable for Nebraskans to rethink the Nebraska Advantage tax credit program and reasonable people can doubt the viability of this project. Right out of the gate the use of the phrase "long shot" was unnecassry editorializing.
Bologna's quoting of standard cautionary boilerplate as if were something revelatory that only a seasoned journalist could unearth was telling.
In filings with the Securities and Exchange Commission the company stated it had not yet broken ground and the proposed mine “may not be commercially successful.” NioCorp, which trades on three exchanges as an over-the-counter security, also warned shareholders “you could lose all or part of your investment.”
According to a Form 10-K filed with the SEC, NioCorp had only $400,000 in cash and a working capital deficit of $4.8 million as of June 30, 2019. The report points to an audit expressing “substantial doubt” NioCorp could “continue as a going concern.” As an “exploration stage company,” NioCorp warned its future is completely “dependent on our ability to raise capital to fund our future exploration and working capital requirements or our ability to profitably execute our business plan.”
Also Bologna states that, "The company has incurred losses since it commenced mineral exploration in 2009 and desperately needs to raise hundreds of millions of dollars in start-up capital." Junior mining companies have no revenue and so obviously incur losses, not newsworthy. This is akin to saying that a six month old baby has no chance of survival. "He can't even walk!", said Bologna disgustedly.
There is relevancy to some of this article but the author made no attempt to hide his disdain for the project, hence my phrase "unprofessional editorial slant".
