Niocorp Developments Ltd (NB)

[AlwaysOptimistic]

Thanks for clearing up that you were not seeking the role of CEO of NioCorp as that has been suggested a few times on the message board which I took to be true. I also understand you always had a disagreement with Mathesons #’s but I always understood that cost as not the cost of basic refined scandium such as Rio Tinto sells but as the cost of a specialty scandium alloy sold as a finished part using a downstream partner like IBC. MolyCorp bought and partnered with a company like IBC that manufactured parts for MolyCorp so I always thought the cost of scandium Matheson quoted was for the cost to the buyer of a finished scandium alloy part not raw bulk scandium. In all honesty, I think it’s a better idea that you speak with Scott and also Matheson as I always thought you and NioCorp were talking past each other on exactly what type of scandium product they would be selling. It’s never too late for you to have that conversation. With re to your interaction with MS, it’s hard to verify as none of us were there. My biggest complaint about the project is the constant delays. NioCorp always seems to come through on completing projects but almost never in a timely manner and there always seems to be one more thing they need to do before they secure major financing but to their credit they always do find a way to secure interim financing to complete various projects and I am confident they will find financing for more drilling and engineering work. My suggestion of lowering the strike price for exercising warrants was just a quick way for the company to raise capital. I don’t interpret rewarding NioCorp warrant shareholders as a negative or desperate as there are willing participants like Th who would gladly participate now instead of having to wait until after major financing for the share price to rise above $10 to exercise the warrants. It is preferable that NioCorp
shareholders are given the chance to benefit and not Lind or Yorkville and the co gets the funds they need to finish the pre requisites for securing EXIM financing approval.