Niocorp Developments Ltd (NB)

[chico237]

ALL/Greatly appreciated Norcal! Thank you for following up & sharing your responses to recent relevant questions asked to management! It gives us all a good idea of where we stand, while we wait for material news to be announced as it becomes available.

SEE REPONSES TO QUESTIONS ASKED APRIL 1, 2024 & APRIL 5th, 2024 BELOW:
Jim could you please offer commentary where possible on the following questions.
Given Exim's Bank continued commitments in moving towards financing vital & viable Critical Minerals Projects.

1) Where does Niocorp stand in the current EXIM process? Was another firm/team employed to continue moving along NIOCORP'S EXIM Bank financing process? (Please comment where you can.)

RESPONSE:
"After having successfully passed the Bank’s TRC-1 review process, we are now engaged in the bank’s due diligence process with several independent consultants selected by EXIM. "

~A WHILE BACK~ Niocorp & L3 Process Innovation (“L3”) announced the start of bench-scale testing at its facility in the province of Quebec, Canada @ March 14, 2022. & Niocorp Reports Significant Advance in Plan to Process Critical Minerals in Nebraska | NioCorp Developments Ltd.
All leading to later completion of all the Critical Minerals via Final Demonstration Plant operations "at Scale" in late 2023.

2) Where does Niocorp currently stand in relation to releasing the "Early 2024 Final F.S."? Are we days, weeks or months away? (Ya gotta be close!!!😜Jim!! as April 2024 is the 2-year mark by my calcs...) Comment if possible....

RESPONSE:
"There are several months of work remaining to complete the FS, including detailed engineering of the new process flow sheet, updated mineral reserve calculation, updated CAPEX and OPEX estimates, updated market analysis and product pricing, and other aspects. The speed with which we proceed is driven by availability of funds, as you would expect. "
BTW, I did not say “early 2024”; I said “as early as possible in 2024.”

(***I stand corrected! NioCorp Issues 2023 Year in Review Report | NioCorp Developments Ltd. ****)

3) Are several entities such as (DoD, U.S. & Allied Governments & Private Industries) "STILL" Interested securing Off-take Agreements for Niocorp's remaining Critical Minerals (Titanium, Niobium 25%, Rare Earths, CaCO3, MgCO3 & some Iron stuff) - Should Financing be secured??

RESPONSE:
"Yes, multiple parties. "

4) Can you offer comment or an update on the Stellantis process at this time?

RESPONSE:
"We will announce updates on our ongoing talks with Stellantis when we and Stellantis have a public announcement to make. That is how it works when two public companies engage in business transactions such as this."

gotta ask. Because the Dots are there...

5) Could Niocorp utilize some of the future rare earth's minerals produced from the mine to form a U.S. based mine to magnet supply chain (example - Neo/Magnequench) -should financing become available?

RESPONSE:
"Yes, potential downstream integration is being examined with regard to rare earths, as we are doing with scandium alloys. Our team has been involved in running commercial operations an across all five stages of the mine-to-magnet supply chain, including magnets."

"The Response above & context BELOW ARE INTERESTING!!"
FOR CONTEXT ABOVE SEE EARLIER POSTS ON MARCH 11, 2024 ~DOD Looks to Establish 'Mine-to-Magnet' Supply Chain for Rare Earth Materials:
https://www.reddit.com/r/NIOCORP_MINE/comments/1bcyc9r/niocorpdod_looks_to_establish_minetomagnet_supply/


https://www.reddit.com/r/NIOCORP_MINE/comments/185tvma/niocorp_stellantis_neo_performance_materials/


SEE RESPONSES TO QUESTIONS ASKED APRIL 5th, 2024
Given:


QUESTIONS:
Jim- I've gotta ask & follow up on the 45X tax credits! ??

1) Could/is Niocorp being considered as "ONE OF THE 100 projects across 35 states have been selected for the first round of the Advanced Energy Tax Credit, a $10 billion incentive created by the Biden administration’s Inflation Reduction Act (IRA).??"

2) Could you offer comment to the possibility of those asking (like BPC) for the **** Inclusion the cost of mineral extraction and acquisition in the definition of production costs, which would increase the value of the credit to accurately reflect the cost of processing critical minerals.***
to be considered & added into a final Tax Credit package for Critical Minerals mining projects?

2a) How would that effect Niocorp should the proposal be accepted? (Once Niocorp achieves finance)

RESPONSE:
"There are two separate tax credits referenced here: 45X and 45C.
Regarding 45C, that program required applicants to seek a credit for projects that could be constructed and put into operation within 24 months. Thus, we were not eligible for the tax credit for the Elk Creek Project.
Regarding 45X, this was designed by Congress to provide minerals producers and processors with a 10% production tax credit for domestically produced critical minerals. Unfortunately, the Biden Administration has proposed to disallow application of the credit to the cost of extracting or acquiring critical minerals, and to allow its application only to the “processing” of critical minerals. This would essentially defeat the purpose of Congress’ intent with this provision and would, perversely, encourage companies to mine critical minerals overseas, instead of the U.S. This philosophy is also reflected, in general, in the Administration’s push to send taxpayer dollars to support overseas mining projects. Fortunately, the Export-Import Bank of the U.S. is charting its own path in terms of seeking to finance domestic critical minerals mining and processing projects.
NioCorp joined with many hundreds of other companies and associations to push back on this policy and to encourage the Administration to stick to Congressional intent and allow this 10% tax credit to apply to both the mining and processing of critical minerals in the U.S. See this: https://www.niocorp.com/niocorp-joins-with-major-automotive-manufacturers-to-urge-action-by-biden-administration-on-mining-tax-incentive/
A 10% production tax credit covering the costs of both mining and processing our critical minerals in Nebraska would deliver substantial financial benefits to the Project, once the Company begins paying federal taxes.
Jim"

(MAYBE CONGRESS WILL DO BOTH..."EVENTUALLY???? but 10% for Processing is a good start!)

FORM YOUR OWN OPINIONS & CONCLUSIONS ABOVE:
Norcal - I find it AMAZING Niocorp still needs, or is trying to raise the cash (A Few $ Million) needed to complete the F.S. "AS EARLY AS POSSIBLE" in 2024! However... There are A LOT OF ITEMS IN MOTION & THE END OF 2024 MAY INDEED TURN OUT TO BE MONUMENTAL FOR NIOCORP & SHAREHOLDERS. "I will continue to hold my ticket & SEAT! LATE INTO 2024.... "
ALL OF THE POSSIBILITIES ABOVE ARE ALL STILL IN PLAY "THE WHEELS ARE TURNING" NIOCORP IS BUILDING STEAM!!!, & TEAM NIOCORP IS "VERY BUSY!!!!!"/per Jim
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CHICO