Niocorp Developments Ltd (NB)

[Big Casino 1518]

According to the most recent 10-Q filed by NIOCORP and signed by MARK SMITH, CHAIRMAN & CEO...

https://www.sec.gov/Archives/edgar/data/1512228/000121390020011628/f10q0320_niocorpdevelop.htm

Assets: Mineral Interests: $10,706,000

(add some minor assets such as cash, prepaid expenses and deposits which add up to about 100k roughly)

I will explain one more time:

Mark loaned money to NIOCORP which NIOCORP secured by assets of NIOCORP. That means if NIOCORP defaults on the loan, Mark Smith takes possession of assets of NIOCORP before shareholders and other debtors, since secured debt is always first to be settled in the event of default & bankruptcy.

Don't forget...his loans also accrue interest at 10% per year. Add on the 2.5% establishment fee also. So figure 5 years of interest...holy smokes! That's a lot of money NIOCORP owes him. So, the money Mark loaned is NOT at risk.

The feasibility study is not an asset. It's just a thick book sitting on the shelf. Sorry to break it to you.

Again..I'm not saying it WILL happen. I'm just saying what WILL happen IF NIOCORP defaults on the "Smith Loan".

((EDITED))