Niocorp Developments Ltd (NB)

[monocle]

They needed time to figure out how to raise more money and that's it. Nothing so far.

They still need to raise money for drilling. They still need to raise money for the feasibility study level engineering that exim wants. They still need to raise money to complete the feasibility study. None of those things are currently happening.

Read the last 10q., from page 17-

The funds from this (April 12) private placement were for general working capital purposes, including accounts payable, general operating expenses, and to satisfy the fees incurred from the private placement itself.

From page 2-

As of March 31st they had, $5,127,000 accounts payable and 194k cash on hand.

They got 6.9 million and had 5 million in debts to pay plus 5 months overhead since then. So with the $2.8 million repaid so far equals a current deficit of around $2.7 million.