Niocorp Developments Ltd (NB)

[Atletico]

Perhaps I'm inordinately pessimistic, but I have found it helps to expose and debate the contra of any given position. Thanks for this exercise. My own conclusion is that the upside far outweighs the downside. A scientifically strong case can be made that there is $2-billion worth of niobium in the ground. It will probably take about $500-million to get it (we'll see). QREDF doesn't have this money, but they own rights to the niobium until May 2015, so for the next three years anyone who wants that $2-billion asset must go through QREDF. So the further one's chronology is away from May 2015, the more likely QREDF is worth $1.5-billion.

Still, it is troubling when insiders don't behave this way. This is why I first raised the concern with Jody Dahrouge...he is systematically unloading stock presently...over $50k in the past couple weeks now. This is the only element associated with this stock I don't understand.