Freedom5-you may or not remember Smith's interview - where he states 'he would consider approaching CBMM with the NioCorp opportunity"... That was then and now is now. It's interesting to revisit - where the mindset was at near the beginning, before any mention of Scandium and Titanium.
CBMM
There are just three operating niobium mines in the world currently, with 85 percent of the world’s supply coming from CBMM out of Brazil. CBMM is backed by the Moreira Salles family, considered Brazil’s richest.
CBMM is the cruise ship of the niobium industry because it can increase or decrease supply and affect price at anytime. Still, Smith sees this as a benefit, providing stability in supply and pricing, and believes NioCorp’s potential production will coincide with the market demanding additional material.
Smith has a long relationship with CBMM. Molycorp was a significant owner in CBMM from the 1960’s until 2007 and Smith was Molycorp’s “Shareholder Representative” to CBMM for several years, becoming “very friendly” with the stakeholders and management of the company, while gaining specialized knowledge of the niobium industry.
With so much supply coming from just one source, end users are also concerned with diversity of supply, Smith believes. “We certainly look at diversity of supply as we’re ordering materials for our company.”
"Smith said he would consider approaching CBMM with the NioCorp opportunity when the project is further along."
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