MB IMO, M Smith just confirms that he wants funds to at least cover a certain portion of the plan he laid out on p27 of the Sept presentation, with access to up to $65M: https://secureservercdn.net/198.71.233.156/gx0.d43.myftpupload.com/wp-content/uploads/NioCorp_Investor_Presentation.pdf Cost Element $25 $100 $150 $285 Final Subsurface Water and Subsoil Characterization $11 $11 $11 $11 Exercise Additional Land Options $4 $4 $9 $9 Final Engineering Before Construction Start $2 $22 $39 $39 Site Preparation and Infrastructure ? $40 $40 $40 Initial Construction Works ? ? $15 $15 Production and Ventilation Shafts ? ? ? $89 Overhead and Site Management Costs $3 $14 $19 $44 Contingency $1 $3 $11 $21 G&A / NioCorp Execution Team $3 $5 $7 $17