Niocorp Developments Ltd (NB)

[tedro84]

It’s very important to read the footnotes on these filings. In many cases, the individuals listed don’t currently own the shares, but have a right to the shares via convertible debentures or other means.

In the case of Yorkville, it’s the convertible debentures. It’s unlikely they are holding actual shares as the price drops. That number represents how many shares they can ask for and flood the sell side with at any moment.

As far as Kehler (and Maselli but you didn’t mention him) these are almost all of the “vested shares” that they will get in March. The most interesting thing about this is that we can now have a pretty good idea of where those 4.8 million sponsor shares went and we know who will have to report sales (Kehler and Maselli) and who won’t.