Niocorp Developments Ltd (NB)

[NEgoodlife]

Not a huge issue. When a company takes on debt, they typically have upfront lender fees that are paid. You get to book those as deferred costs on the balance sheet and expense them over the time of the debt agreement. In this case, Lind was converting chunks of that debt by exchanging it for newly issued Niocorp shares. As that was happening, the debt balances decline more quickly, so the related deferred financing costs on the balance sheet should have been expensed through the P&L more quickly. This is just timing of expenses that have already been paid. At this point, the adjustments will make near term future years look slightly better.