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Friday, May 19, 2023 6:05:47 AM
1) The deposit is not worth what the FS ( made up by independant experts ) is telling us as scandium is never going to be sold at the price used in the FS.
2) This is a fantastic deposit but management is incompetent because they are unable to get this project financed after so many years.
I hope everybody can see these are two very conflicting views. Either the deposit is not worth the effort and that makes management brilliant to bring it as far as we are now , or the deposit is fantastic but we have incapable management.
It is not a secret that I disagree with both views.
I think none of the two views are correct. I agree that it has taken much longer than everybody ( including myself)expected to bring us where we are now partly due to circumstances out of control ( the water issues, a new FS with the freezing techniques , Corona and now the addition of the rare earths) but certainly also the fact that part of the FS is based on the risk financers see for Niocorp opening a new market for scandium.
I think however the discussion on the scandium price will become a non issue because
1) The strategy of the company ( explained in previous conferences)to expand the project into verticals where they will share in the profits of the verticals making a transfer price not important.
2) The addition of the rare earths which will make the project profitable even at scandium prices of 1000 usd /kg.
The fact is that notwithstanding the frustrating delays the project is becoming more attractive than ever . The US is never going to let the Chinese do to Niocorp what happened to Molycorp .
I want to see the Spac and reporting issues behind us and see the demotest results asap to turn the page. My smile will be seen in Canada and the US.
( BTW for the Canadians , I lived and worked with my family in Toronto in 1973 and 1974 )
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