Niocorp Developments Ltd (NB)

[AlwaysOptimistic]

There have been a lot of opinions going back and forth today over the air permit.

This reply by JS on NioCorps FAQ website to the question, "When is construction of the mine expected to begin?" is the only reliable response worth considering IMO.

JS: "Launch of construction activities on the Elk Creek Project are expected to begin once sufficient project financing is obtained and after requisite permits are secured."

https://www.niocorp.com/about-niocorp/faq/

Reading deeper in to the response, it is evident at this point to me, that the air permit qualifies as a "requisite permit" prior to financing and construction.

That being said, I have changed my expectations for the last one month or two since stumbling on this FAQ web page to believe that we will not see financing/construction until the air permit is approved.

Placing my self in the shoes of a financier, I think it is a reasonable expectation that the company a financier desires to invest in has all of its major permits approved before proceeding.

I do expect the air permit to be approved and as we all know, a variance is always a fall back so I do not think there is need for concern.

Regarding the length of the process in getting the permit approved, I am not surprised in any way that it has taken this long. In dealing with my local governmental building department in getting an external staircase and deck approved, it took a very long time and involved multiple agencies: fire department, planning commission, department of building inspection and multiple departments and approvals within 2 of those agencies listed. So no, I have no reason to believe there are issues in whether the air permit will be approved. This is just normal government bureaucracy in action.

For anyone who has had to obtain an exterior construction permit taking in to account not just the subject property but adjoining properties (set backs, firewalls, construction requirements etc in my case), I think you know what I am referring to and understand that the wheels of government turn slowly but eventually everything comes together.

Lastly, I dont know enough to say when the air permit will be approved but if the process started last summer as some have mentioned, I think we are on the downhill side of the process which is encouraging.

If we had more experience and knowledge in the process, we could make a better projection of "when" based on the email exchanges between Ollson/NioCorp and the State of NE. This is probably a good question for Boilermaker upon his return from a cruise.