Niocorp Developments Ltd (NB)

[PutzMueler]

Reply from Jim to an email of mine.
My Q’s in black.
His answers are in red.

Perks @

When the updated Feasibility Study is completed, a news release will be issued summarizing the high-level outcomes.

Jim

I can only assume by now the commercial scale plant has been completed and you have all the information that you require to finalize the feasibility study to be published? Work at the demonstration plant is continuing on two final operations: (1) producing sufficient waste materials for characterization and backfill testing, which is important as the improvements made to the flowsheet have changed the composition of the waste materials, and (2) confirmatory runs of a larger rare earth solvent extraction system.

Or am I still waiting for a final news release to be able to countdown 45 days for the updated FS to be filed with the SEC? When the updated Feasibility Study is completed, a news release will be issued summarizing the high-level outcomes. Within 45 days of that news release, the full text of the associated Technical Report will be filed. Understand that we are allowed to issue the press release before the report is written and issued, but all of the technical work must be done and each of the Qualified Persons (QPs) must agree with the outcomes and provide both a written certification and a written consent before that public announcement can be made.

Mark Smith stated in his video update for Niobium that NioCorp is working feverishly (paraphrasing), on updating the feasibility study. But I’m not sure what that means. Is there anything you can tell me in that regard? Producing a Feasibility Study, even one that updates a previously issued FS, is a very large undertaking. It involves a great deal of engineering and procurement work, both for the underground mine and the above-ground processing facilities, as well as many other assessments that are not directly related to the demonstration plant results. Even elements that have not changed materially since the prior technical report will typically need to be re-priced to account for inflation. Our target for completion is as soon as possible in 2023.

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And Thanks NCT, understood.