Niocorp Developments Ltd (NB)

[Boilermaker1]

Nobody is jumping on any train
The PR said “review the economic potential.” Several years ago I had a long discussion with Scott about REEs. He said it was technically feasible to refine and sell REEs. He said he did not believe it was economically feasible. None of this is a secret. He said more or less the same thing at the last general meeting. This country and our government has known for a long time that we are very dependent on China for these minerals. Everyone said bad, bad, gotta do something. But no one DID anything other than more studies and more talk. There is at least a very good chance that the entire Covid situation will move governments from talks and studies to actually doing something. It should now be obvious that supply chains must be more secure. Elk Creek has a significant amount of REEs. There are very few locations in this country that do. Elk Creek is much further along in the development process than most of them. If this country gets serious about securing a domestic source of REEs, there is a very good chance Elk Creek would play a part. I think most people grasp that producing these elements domestically probably would cost more than importing from China. Seems like this would be a very good time to “review the economic potential.” It would not surprise me if Mark has received a call from some government official asking “How much would it cost to produce REEs at Elk Creek?” I am sure these same officials are aware that REE concentrate is being produced at Mountain Pass but it is being refined in China and China is part owner of the company.

So what exactly does a good competent management team do when your decision making basis (costs, demands, prices) change or they have reason to believe they will change?The good ones do a review of the decisions.