Niocorp Developments Ltd (NB)

[chico237]

NIOCORP RESPONDS Jan. 3rd, 2024 to "NEW" recent questions based on the 2024 NDAA & Proposed IRS tax credits.
FOR CONTEXT:
December 21, 2023 ~Proposed regulations on advanced manufacturing credits clarify IRC Section 45X provisions ~
https://taxnews.ey.com/news/2023-2116-proposed-regulations-on-advanced-manufacturing-credits-clarify-irc-section-45x-provisions
Proposed~ Section 45X Advanced Manufacturing Production Credit :
*2023-27498.pdf (govinfo.gov)


**NOTE: ~THE 2023 & 2024 National Defense Acts Call out NIOBIUM & TITANIUM & SCANDIUM & the need to establish a U.S. Industrial Base for the Supply & Processing of ALL!
(2023 N.D.A. See pages #246 -#256)
https://docs.house.gov/billsthisweek/20220711/CRPT-117hrpt397.pdf
H.R. 2670—NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2024
https://docs.house.gov/billsthisweek/20220711/CRPT-117hrpt397.pdf


SEE NIOCORP/JIM SIM'S Responses given on Jan. 3rd, 2024 - to relevant questions asked Dec. 18th, 2023
1) Could Niocorp benefit from a possible DoD partial 2024 Feasibility Study funding option for critical minerals production once the 2024 NDAA is signed?
RESPONSE:

It would take too long to wait for government funding from this new initiative specific to the costs of updating our Feasibility Study. We are working on raising funds to complete that work now

2) Could you offer comment on the new IRS tax credits for critical minerals covered under section 45x.
A) How would-could they benefit Niocorp’s crucial minerals moving forward?
RESPONSE:

Fortunately, all of our proposed products are listed as eligible for the 10% production tax credit established in Section 45X Advanced Manufacturing Production Credit. The IRS is now looking to promulgate specific regulations on what can be included in the definition of production costs and on other issues, and we expect to submit comments to the IRS on some of these issues, either directly or in conjunction with comments that the National Mining Association (of which we are a member) will submit. As to quantifying the benefits of this federal tax credit, that will depend upon how the IRS chooses to implement the governing regulations, including what is allowed to be included in the scope of production costs. But, suffice to say, a 10% production tax credit for a project such as ours that has multiple critical minerals eligible for the credit could deliver very valuable and important economic benefits to the Project.

B) How would-could these tax credits benefit future end users of Niocorp’s critical minerals utilized in the production & manufacturing of products moving forward.
RESPONSE:

The 45X production tax credit is currently limited to those companies that produce the critical minerals identified as eligible for the tax credit(s). The IRS has proposed to disallow use of the credit by companies that take those critical minerals and convert them into other products. But, again, as with all federal tax law changes, one must wait for the final word on the implementing regulations to judge the value of these changes in the law.

3) Do you foresee Niocorp possibly benefiting from other sections/amendments to the 2024 NDAA once signed into law once the project is financed. -T.B.D.
A) Such as the need to secure U.S. domestic supplies of Niobium , Scandium, Titanium & Rare Earth processing… ?
RESPONSE:

Yes, as we were active in helping to shape the FY24 NDAA.[/b]

B) The possibility of Niocorp becoming a DoD “Stockpile” supplier of domestically sourced critical minerals?
RESPONSE:

Yes, quite possibly. It depends upon product availability, pricing, and other factors at the time.

C) Please comment if other possible/potential benefits exist. (If/ where you can..😜)

"NO COMMENT!😜"

4) Will an Investor Presentation with Q/A be forthcoming once Niocorp achieves certain milestones in early 2024?
RESPONSE:

Yes.

We periodically update our Investor Presentation when material developments or other news items make that appropriate.

NIOCORP -RECAP OF 2023

BACK ON ~JANUARY 2023 NIOCORP MANAGEMENT MEETS WITH MEMBERS OF CONGRESS & THE WHITE HOUSE....

REVIEW NIOCORP'S NEW INVESTOR PRESENTATION & WEBSITE
https://www.niocorp.com/wp-content/uploads/Detailed_Investor_Presentation.pdf


*******OCT. 14th,2024,- WHEN I ASKED JIM ABOUT THE MSP & Potential U.S. Govt. assistance. Judge for yourselves...
RESPONSE

"The Mineral Security Partnership is largely designed to encourage critical minerals projects in nations outside of the U.S. This is not an exclusive rule, but it clearly is the US State Department’s intent. These kinds of multilateral international processes tend to move relatively slowly given that several dozen various governmental bureaucracies across all participating nations get involved in these decisions. You can think of these multilateral efforts as operating like the United Nations … nothing really gets decided that quickly, and there will be an enormous amount of government oversight and regulation that will come to any project that secures funding through the Partnership.

****In contrast, we are a much faster track in seeking U.S. government assistance by working directly with the Export-Import Bank and other U.S. federal agencies. Not that anything moves as quickly as we would like when it comes to securing US government assistance for large projects like ours …" ******

****ON DEC. 4th, 2023, ~ Encouraged & happy to see forward progress on (TiCl4 /REE's) & the F.S. (early 2024 now) I asked Niocorp management to respond to the following Questions:
PLEASE SEE RESPONSES TO RELEVANT QUESTIONS SHARED BELOW:

JIM: Circling back - can you offer comment on the following: Back in June 2023
NioCorp Completes Geotechnical Drilling Campaign at the Elk Creek Critical Minerals Mine Site | NioCorp Developments Ltd.
A) Have those results been compiled & completed to date?
***RESPONSE

****"YES"

B) Does/Will Niocorp utilize the results the Geotechnical results & incorporate them into the new early 2024 F.S.? (Alongside recent announced Met/Program results being completed...)
***RESPONSE

******"YES"

GIVEN: https://mailchi.mp/niocorp.com/niocorp-completes-metallurgical-test-program-and-begins-making-titanium-samples-for-prospective-customers?e=9a305b2ac9
"The Company has shifted operations at its demonstration plant to produce sufficient quantities of TiCl4 for quality and purity testing by multiple prospective customers who have requested samples."

C) Are both Government & Private entities interested in (TiCl4 ~REE's production from the Elk Creek Resource?) Comment if possible....
***RESPONSE

********"There are multiple interested parties, but I cannot comment on who is interested in what."

D) I know .... you know what the last question might be LOL!😉.... "Are (SEVERAL Govt. & Private ENTITIES) ALL still interested????" Comment if possible....
***RESPONSE

*******"YES"

December 14, 2023~ NIOCORP RESPONDS TO WALTERS QUESTION. Thanks Walter for sharing.
RESPONSE:

"There is no expiration covering negotiations that are ongoing between NioCorp and Stellantis. The only element of our current agreement with Stellantis that expired was a 60-day exclusivity period during which NioCorp agreed not to execute a rare earth offtake agreement with any party other than Stellantis. Both parties agreed to allow that exclusivity period to expire given the positive progress that was being made toward final agreements. Current negotiations are proceeding well and, while nothing is certain until final agreements are executed, we look forward to achieving both a rare earth offtake contract as well as agreements related to a significant equity investment in NioCorp by Stellantis."
Thx,
Jim Sims Chief Communications Officer NioCorp Developments Ltd.

FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
GIVEN: NioCorp’s Elk Creek Project Confirmed as the Second Largest Indicated-Or-Better Rare Earth Resource in the U.S.
https://www.niocorp.com/niocorps-elk-creek-project-confirmed-as-the-second-largest-indicated-or-better-rare-earth-resource-in-the-u-s/
AS THE SECOND LARGEST, "PROVEN" REE RESOURCE IN THE U.S. ,Niocorp has continued to execute on their plan. The Elk Creek Mine has numerous studies posted by the USGS & Private entities (Some very recent 2023). Waiting for several catalysts to conclude i.e. - including the Final F.S. (early 2024) & Finance $$$$.

NOTE: TO DATE AS OF Dec. 10th, 2023, ~ONLY THE CIRCLED RED PORTION (of 7 square kilometers-) HAS BEEN CALCULATED INTO THE RESOURCE! WE ALL ARE WAITING FOR A FINAL~ EARLY 2024 FEASIBILITY STUDY! ~

THE U.S & ALLIES, MIGHT NEED THE 2nd LARGEST PROVEN, PERMITTED, STABLE, SECURE, STRATEGIC, ESG, GENERATIONAL MINE IN NEBRASKA TO SUPPLY & PROCESS NIOBIUM, TITANIUM, SCANDIUM & SEVERAL RARE EARTH MINERALS ~ SOON???
(Form your own opinions & conclusions!!!!)
I'LL BE WAITING A BIT MORE.... TILL EARLY 2024 THEN!....


MORNING NORCAL! & ALL- I know most of the above has been a repost, but many should find the "NEW" Responses - "INTERESTING"!
"Front Row Seats EARLY 2024!"
Chico