NioCorp is down 50% in 10 weeks and hovering just above multi-year lows. Yet I read how this project is "fully de-risked" or how patient I need to be (I'm invested over 9 years) or some ambiguous entity is holding down the share price (like they haven't had 10+ years to get in?) or some other claim about how junior mining is and you need to have a much longer time horizon (20 years? 50 years? 100 years? 200 years?) to why we are now 6+ years past when Mark said construction would begin. I didn't claim 2017, Mark stated in 2016 after years of working on getting the project together, he anticipated construction to begin in 2017.
Now Mark & Jim & the other's part time job at IBC is about 3 weeks from default unless they get new outside funding with yesterday's news release. (Think that will be a distraction?)
I don't care how good of guys they may or may not be.
I don't care about who technically has more shares.
I don't care about how you define "render" or "rendering".
I don't care about a lot of petty squabbling
Here is what I know.
1. Mark & Jim & Scott & the others have two companies that they are highly paid to run both via a combination of salary and options/equity/bonuses/interest on loans to pay themselves a salary/etc
2. They have zero revenue.
3. They have had zero revenue since ever. We don't even have a timeline when revenue could be received outside of a "X years after financing" which has been eluding Mark for 10 years.
Yet, their salaries have been going up despite not actually accomplishing anything tangible for investors in nearly a decade. WHY? I'm not opposed to them making money but what accomplishments has management achieved to justify increasing salaries & increasing equity options but not actually accomplishing anything tangible. This is like a baseball team rewarding themselves for getting hits while never actually scoring runs and constantly losing games.
The only people involved with NioCorp who are NOT making any money seems to be retail investors. But don't worry, there will be free beer tomorrow just wait for something like the BFS / PEA / PEA2 / Offtake agreements / German government loan / permits / kilns on backorder / EXIM interest or applications / NASDAQ pot of gold / some other distraction.
Hey good news, they're drilling for samples again so maybe we need to wait for those results in late 2024 in order to have a third FS in 2026 and then I'm sure financing in 2027 which will start construction in 2028 and finally get revenue in 2032 or some other crazy deal.
The next thing you know, Mark will increase the interest on his loans to himself that pay his & the staff's salary so we'll need to dilute in order to get the funds from investors to pay for themselves.
I'm tired of hearing how great their team is. They need to deliver some tangible results.
