Hello Niocorp faithful:
As we approach, what in my opinion will be the beginning of a new book in the story of Niocorp, I want to express my opinions, ideas and expectations.
We have been a part of this story for more than a decade at this point in time. Several years back dutchfree asked me if we were short time investors. I imagine he asked that, because we expressed our disagreement at an annual meeting and requested certain practices be avoided. My answer was until 2022 or so (message # 26348). We did not make 2022, but is just the beginning of 2023 and in my opinion, in a couple of weeks we will be a totally different enterprise. Not a bad estimate on how long it would take to get to this point.
Let me tell you, not many companies let small investors express their opinions at those meetings. I have always admired and respected them for that.
Of course, we are all entitled to our own opinions, So here are ours, in this case "ours, includes Mrs. grunt.
Some very polarized opinions have surfaced in the last few months, so here are ours, in no particular order:
I) Reverse split: Totally irrelevant to our investment. We would like the price of our shares to trade at least, at $10.00 USD. Reason: We would like our shares to trade at a level where all large institutional investors are able to invest in Niocorp, from now on "NB" could be used. This fact alone will totally transform our investor base. The current plan for the reverse split is between 8 and 12. The further upscale from the 10.00 minimum required by most institutional investors would be great.
II) Share dilution: Like most startup companies, our company survives with the funds we receive from new shares being issued. We used to look to every quarterly report to see how funds could be raised by investors exercising their options and or warrants, remember that? We now have the opportunity to raise enough funds to commence the project and attract lenders to complete our capital needs. EXIM or maybe some other lender could step up to the plate without the long-anticipated wait period from EXIM.
So, of course the cost of capital is never zero. We hope all GXII shareholders decide to stay put and become part of NB. IT will be nice not having to wait for another "large investor" and having to wait another round of negatively impacting our share price.
Where we go from here: From the beginning, we felt that this was a long-term investment, so we had set 2022 as the time when we would decide the next step. In our December meeting we decided to stay put thru 2023. So here we are.
What's next: Well, a few years back, during a presentation by Scott, he showed a very detailed layout of the proposed land NB had under control with option to buy. In the center was a tiny green dot, barely visible from my seat, He said these are the 60 acres that are included in the 2017 Feasibility Study. Say WHAT? All of the drilling performed by Cornhusker U and Molycorp were shown in the layout, they were all over the entire gigantic piece of paper. A surface of over 5 square KM.
When they discuss the potential of the entire plat, they are not talking about possibilities, they are talking about land that has been drilled and studied by very credible personnel. The density of the drilling is not enough to present it in a formal manner, but the goods are there.
So, I imagine we will hold a sh** full of shares for future generations to enjoy.
A great group of individuals have been put together by Mark, My respect and admiration to all 8 of them. Great Job getting us here.
To all Investors, it has been an interesting ride, in reality it is just the beginning. Wish you all the best.
Have a great evening.
AI
