Did you listen to the last update from ibc? The EM division is unlikely to get back to normal. At the end of the second quarter they will have zero contracts for that division, no revenue whatsoever. They are looking for options to sell or dissolve the EM division but it could be an expensive process.
As for Mark's credibility, it's gone and lucking into a government handout won't bring it back. If it wasn't for the Biden administration's directive to exim, I don't believe he would have any options for financing left. Year after year of missed self-imposed deadlines and multiple feasibility studies have yielded nothing.
Mark called last year a disappointment, what an understatement! He claims to have had doubts about the SPAC merger but went ahead with it anyway and it was an absolute catastrophe. Big dilution, no capital raised, and an 80% decline in market cap. He took this opportunity to get his $4 million loan repaid with death spiral funding from Yorkville. For these accomplishments he took a raise, a bonus, and a fat stack options that will be extremely lucrative IF exim comes through.
I'm glad I got out of niocorp when it was over a buck, kicking myself for not getting out of IBC at the same time. If there is ever a run up with volume I'll dissolve my position and never think of Mark Smith again.
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