He's probably just extremely pissed like I was, and still am to a degree. It was a very dirty deal indeed. I certainly wouldn't want anyone else to be taken on the 9 year ride I was on. Mark kept the lights pretty dim when it came to transparency and still does. And when I look at it now, the scandium pricing in their initial FS was a complete fabrication, which wouldn't have been such a problem if a company called NioCorp didn't base almost their entire EBITDA off of selling scandium, so the dishonesty was there from the start of the release of the first FS. They also never formally addressed how they determined the pricing of their scandium if I recall, which again wouldn't be much of a problem if they got some decent offtake agreements but most are just interested in the ferroniobium. Admittedly, the Traxys scandium agreement isn't too bad though at a supposed obligation to purchase about 10% of the annual production for 10 years. Not sure about the strings (or conditions) attached to that deal though. We just need way more agreements but the demand just isn't there right now as the total global production is still small. This is nothing new though as the scandium concern was called out by detractors way earlier on. In the beginning, I think the intention with this venture was always focused on selling the niobium (hence the name) but the numbers weren't there so they had to come up with something extra. I still think the REEs have the potential to save this thing - but will definitely scrutinize the FS, particularly with pricing. They will help in some fashion... hopefully it's not a whimper of a 5-10% increase though.
But there is always the possibility he or someone else posting bearishly on this stock is shorting it. With the low volume, it would probably be an attractive thing to do. But I think he's just being honest.
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