Niocorp Developments Ltd (NB)

[Middleborder]

Growth Mindset. All; Filed to report decrease in Cash and increase in Real Estate Assets. No change to Position, decrease to available cash.

https://ih.advfn.com/stock-market/USOTC/niocorp-developments-qx-NIOBF/stock-news/85287051/amended-current-report-filing-8-k-a

"Under Item 9.01(b) of the Original Form 8-K, the Company indicated that it would provide the pro forma financial information required to be filed under Item 9.01 of Form 8-K by amendment to the Original Form 8-K. Following additional consideration, the Company has determined that pro forma financial information with respect to the closing of ECRC’s option to purchase the Property pursuant to the terms of the Option Agreement is not required pursuant to Regulation S-X because the presentation of the pro forma adjustments to the Company’s historical consolidated financial statements to give effect to the acquisition of the Property would not be material to investors. On the closing date of the purchase of the Property, the Company recorded a decrease in cash under current assets on its consolidated balance sheet of approximately $6.3 million, reflecting the payment of the purchase price and other direct costs, and recorded corresponding increases in land and mineral rights under non-current assets on its consolidated balance sheet of approximately $0.8 million and approximately $5.5 million, respectively, reflecting the allocation of the purchase price among the acquired assets based on their appraised values. Accordingly, the Company is filing this Amendment No. 1 to the Original Form 8-K to amend Item 9.01(b) of the Original Form 8-K to eliminate references to the subsequent filing of pro forma financial information relating to the acquisition of the Property. Except as described above, all of the other information in the Original Form 8-K remains unchanged."


Note that Niocorp will be paying property tax from this point on. (Should start renting out any farm land they do not need for mining and refining operations to offset the cost of tax due. Me thinking like a farm manager here.)

Snip....