Niocorp Developments Ltd (NB)

[chico237]

I agree Stark (Either they couldn't, entity/s backed out, or entity/s wanted to add REE's since the value increased?? or possibly a few other scenarios occurred. Believe me I thought we were "Close in 2020". At times I have been frustrated like many! but I see a path forward now... (I always posted & thought 2025 for first production & that will not happen. Yet 2026 is doable.... T/B/D/ I want to See what the 2023 F.S. states & the schedule submitted looks like!)
***The team has to execute & develop that 2020 AGM plan. Sign EPC contractors to start "Critical Path" work & (Break -ground). I believe in our team & in the project, but it's Yoda's- "Do or DO NOT TIME!" in 2023...to 2026 production (my hunch)
Some "Interesting" tid bits:
a) The 1.7 Trillion omnibus package has passed! This FUNDS some of the STUFF Congress approved that might work to Niocorp's advantage.

b)Romney, Sullivan Introduce Bill to Secure U.S. Critical Mineral
(Some Interesting Critical Mineral Legislation Continues to be brought forth. "IF" anything comes of it .... ???)
https://www.romney.senate.gov/romney-sullivan-introduce-bill-to-secure-u-s-critical-mineral/

c) I remind myself that even IF the team secures Equity & the GXII Deal is approved. The Debt portion needs to be completed to sign the EPC contractors so critical path work can begin.
Please see Jim's responses 6/17/2021-
(Jim...Private funding methods have been the primary target however, ... can you offer any comment to the following questions.)
a) Does/Can Niocorp qualify for a U.S. govt. (DOE/DOD) Loan, or Loan Guarantee as described above or similar ?

Quite possibly, and we are in discussions with them on this now. However, the ability of this program to fund critical minerals projects will depend upon what the Democratic leadership in Congress enacts in its appropriations bills, as new funding is required to cover the credit subsidy cost of these loans. In recent years, the Congressional appropriations process has been a very politically contentious with little bipartisan agreement on much of anything. Some opposition in the Congress has already quietly developed to the Administration’s proposal to expand this program’s traditional funding focus to include critical minerals mines, which it has not funded in the past. Regardless, it is not likely that funding levels for the credit subsidies used by these programs will be finalized until late this year, or into next year.

I will add that our team is very familiar with the DOE Loan Guarantee program, as we navigated this process some years ago. It is a very slow process and requires more than a year (for some projects) to complete. It also costs a great deal of money and resources in which to engage in this process – those costs can easily grow into the 7 figures. We continue to examine the possibilities here, however.

(****8/3/2022 : Jim- Could you offer comment on how this may affect the Elk Creek Mine moving forward?)
117th Cong., 1st Sess. H. R. 5376
https://www.congress.gov/bill/117th-congress/house-bill/5376
https://www.energy.senate.gov/services/files/44ADD84F-9840-4B24-9BE9-DFCF353ABF2B
Response:

The Senate Democrats’ “Inflation Reduction Act of 2022” legislation does indeed include several provisions that may be helpful to the Elk Creek Project. These include both production tax credits that would apply to all the critical minerals that we intend to produce, additional funding for the DPA Title III program aimed at supporting critical minerals production, and additional lending authority for the Title XVII program at DOE. If these provisions survive the amendment processes in the Senate and House, the Byrd Rule in the Senate, and can be passed by both Houses of Congress and is signed into law, it could have multiple positive impacts to the Project.

The bill text, as is presently available publicly, is attached. This bill will undoubtedly change when the Senate takes up the reconciliation process, as reconciliation does not limit amendments. There will be many amendments offered by both sides. Some of the bill’s provisions may not survive challenges on the Senate floor under what we call the “Byrd Rule.” Additionally, implementing regulations must be written by agencies of jurisdiction following the bill’s enactment into law to determine many of the details of various programs and funding initiatives. As always with government programs and processes, little happens quickly.

Apart from this bill’s proposed provisions, We Have Been Working With Several Federal Agencies Regarding Potential Assistance to the Elk Creek Project, but those agencies do not allow us to disclose any details of those processes.
All the best,Jim

New Federal Legislation Could Deliver Powerful New Benefits to NioCorp for its Critical Minerals
https://www.niocorp.com/new-federal-legislation-could-deliver-powerful-new-benefits-to-niocorp-for-its-critical-minerals/

Other Provisions That Could Benefit NioCorp
Other provisions of the law are aimed at encouraging greater production of critical minerals in the U.S.:

$500 million for “enhanced use” of the Defense Production Act to provide economic incentives to create, maintain, protect, expand, or restore domestic sources for critical components, critical technology items, and industrial resources.

$40 billion commitment authority for the U.S. Department of Energy’s Innovative Technology Loan Guarantee Program (Title XVII), on top of DOE’s existing commitment authority of approximately $24 billion. The Innovative Technologies Loan Guarantee Program authorizes loan guarantees for projects that (1) “avoid, reduce, utilize, or sequester” air pollutants or anthropogenic emissions of greenhouse gases; and (2) employ “new or significantly improved technologies” as compared to commercial technologies in service in the United States at the time the guarantee is issued.

(Why mention the above "IF" it wasn't relevant?)
Given all the above legislation & time frames playing out plus the fact over 14 NEW applications have been submitted to the DoE/LPO since Oct. 2022 (After the legislation passed... & that Jim has not responded to follow up questions on the above topic... "It may very well be he cannot respond until they can deal?" @ 80% is still needed & a lot of Cheese.... ("The above remains very Interesting to me Stark..."
Given the German loan guarantee is still in play for $145M. (Could the U.S. match or exceed that? They did grant monies to MP materials & Lynas after all! "I can't rule it out yet"...)
Form your own opinions & conclusions:
Front row... waiting for material news as it becomes available. Niocorp posts more news than some of the other top REE projects.... imho....

Chico