Niocorp Developments Ltd (NB)

[NorCalTommy]

My email interaction with Jim Smith on March 4th 2024 (will break it up over the next 3 or 4 posts);; Here is 1 of 4:

NCT] Demo Plant:- Are all tasks completed in the Demo Plant that are required to update the FS?

JS] Yes.

NCT: Is there anything else needed to publish the FS? i.e., technical input from demo plant, or additional financing?

JS] As we outlined in our 2023 Year in Review Report (https://www.niocorp.com/niocorp-issues-2023-year-in-review-report/), we are now working to incorporate rare earths into our mineral reserve, complete the engineering required to support the new process design, update project capital and operating cost estimates, and produce other information required for an updated Feasibility Study. We expect this to be issued as early as possible in 2024, contingent upon raising the necessary funds to complete this work.

NCT] is the FS (completion) a gating factor for either EXIM financing approval or Stellantis Equity investment and offtake?

JS]- EXIM has not yet made a determination on this point.

NCT] Please elaborate on any outstanding prerequisite items/tasks necessary to:
a. procure financing approval from EXIM.

JS] We need to complete the current due diligence reviews and other steps required by EXIM’s process, including gaining approval from the bank’s two remaining Transaction Review Committee reviews and by the Bank’s Board of Directors.
b. to procure offtake and equity financing from Stellantis Completion of current negotiations and execution of required legal agreements.

NCT] Lastly, can you provide any status on dates for EXIM financing approval (decision) and Stellantis offtake and Equity financing?

JS] Not at this time.