AO,
My numbers are ball park identical: I introduced a slight difference in my calculations by assuming 20% redemption, thus working on 80% of the 285M. But in the overall vicinity.
I think that the market overall is satisfied that both parties to the merger have had their expert assessors look at the numbers and agreed back in the summer on a fair price of $.89
We may not care for this price, but it is what it is: it gives NioCorp access to cash in 1Q23 to get the party going with the means to pay for the following expense items (see p27 of the presentation):
Cost Element based on receiving ($M) $25 $100 $150 $285
Final Subsurface Water and Subsoil
Characterization $11 $11 $11 $11
Exercise Additional Land Options $4 $4 $9 $9
Final Engineering Before Construction Start $2 $22 $39 $39
Site Preparation and Infrastructure ? $40 $40 $40
Initial Construction Works ? ? $15 $15
Production and Ventilation Shafts ? ? ? $89
Overhead and Site Management Costs $3 $14 $19 $44
Contingency $1 $3 $11 $21
G&A / NioCorp Execution Team $3 $5 $7 $17
Now, if we take this as a fait accompli, or as the cost of doing business, ( which ever accommodates ), then, taking a strategic view of the sequence in which events are coming our way, I think it would be most beneficial to all of us, regarding the future share price of the post-merger venture, to stack as many as possible of the share price moving events, in the post-merger, R.S. and Nasdaq-uplist era, in order to get the most bang for our bucks!
Confirmation of OPEX reducing flow-chart, Maximization of the recovery rates for the metals included in the 2019FS, Higher purity of the oxides generated by the "Carbonation + SX" process, Addition of the REEs to the original FS, Consequent increase in annual profit (+ ~$150M?), Valuation of GHG by-products listed by Chico (CaMg, MaMg, Fe...), udated 2023 FS, etc will bring many new INSTITUTIONAL investors to our project, and SP increases, once we are on the Nasdaq vs the OTC, all IMO...
I will keep loading on weakness between now and then if I can, because in my judgment, this remains a heck of an investment, with dividends to share with future generations, ...and those in need...
Go NioCorp!
GLTAL
AR.
