Niocorp Developments Ltd (NB)

[Dead On Arrival]

The best run the stock ever had was when Mark hit Fox at 3 o'clock and the stock ran big. It had a 45 minute explosion and then went back to normal. A lot of the longs have to pump this stock because they know they are now stuck and cannot get out.

The management team has worked extremely hard here and deserve credit for their work. Mark was led to believe that a certain lender was the answer but they got stage fright and decided to move on. Not his fault but leading shareholders to believe there were multiple lenders in the wings is something I am critical of. GXII was never in the works until the writing was on the wall that money was not arriving.

Institutions will not invest here until they see concrete numbers in the FS and then ask Mark for chunks of stock at a reasonable price. Not sure what that price will be.