What you are saying does not contradict LCP's statement, but rather confirms his justified criticism. It is an undeniable fact that according to NB's own FS numbers, the vast majority of the project's envisaged revenues come not from Niobium, but from Scandium. The project's numbers based solely on Niobium sales would be catastrophic.
It follows as a further fact that NB will only find financing if investors "believe" not only in the future market for Scandium, but also in the pricing assumptions NB has made in its FS. Of course, everyone invested in NB (including myself) chooses to believe. Otherwise we wouldn't be invested. But it's fair to remind oneself that the current non-existance of a Scandium market and the obscurity of pricing resulting from this non-existance makes any investment in NB very risky. This will remain to be the case until NB announces one or more offtakes for Scandium at a price level supporting NB's assumptions.
The interesting questions are:
Will NB find enough risk capital willing to be invested in the project before such offtakes are signed?
Or will they first have to prove that there is a market for Scandium via offtakes?
If they find enough risk capital, at what price will it come?
Is it possible that one will simply not come without the other and we have another painful waiting period of many months or some years in front of us?
As I stated before, I hope these questions will never be answered and we are bought out in the next two to four months by someone who wants to secure the remaining 25% of Niobium and a good part of the Scandium for his own needs. A JV would be a welcome alternative.
If that doesn't happen, my best guess is we will see financing only after a Scandium offtake has been signed.
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