Replies to post #39959 on Niocorp Developments Ltd (NB)

[Nebraskan]

You are correct.

The agreements are in the form of five year pre-paid Exploration Lease Agreement (ELA), with an Option to Purchase (OTP) the mineral rights and/or the surface rights at any time during the term of the agreement.

[Boilermaker1]

Yep, I have looked at that map too,
Many times. That is a BIG area. I keep thinking:
There are pretty specific rules about how you quantify a deposit in an FS. Niocorp followed those rules. But they bought up options on a lot more area. They did this at a time when they did not have a lot of money. But they did it, and for a darned good reason: They may not have the data to prove it according to FS rules, but it is an indication of how big Smith and Honan think the deposit is. I did talk to Scott one time about additional drilling. He said it is not cheap. The first 1000 feet of each bore tells you nothing useful but still costs a lot. We have the data we need to define a deposit big enough for an FS. Once we have a 2000 foot deep main shaft and people and equipment on site we can do a lot more exploratory drilling at a lot less cost. These guys seem real good at focusing like a laser on what is critically important and letting things of less importance slide. I think right now it is financing, get it built, get into production. I suspect about a year after production starts we will see an announcement redefining the size of the deposit. It is anybody's guess what thst will do to share price but probably not down.