Mark said that very conservatively he expected a deal the first half of this year after missing last years self-imposed deadline. Not much time left.
Google search shows three off-take/equity investments from Stellantis recently. They got 11.5%, 19.9%, and 19.99% of those companies. None of those deals mentioned shares coming at a premium price. One of them is Alliance Nickel. At the time the investment was made last spring, they were projecting a feasibility study before the end of last year. In the fall (right around the time Mark promised a finalized deal) they announced that the feasibility study would not be completed until sometime this year. No update since. Stellantis might be wary about investing in another pre FS company? Especially when they are tightening their belts company-wide?
Given Niocorp's deflated price, the amount of dilution we're looking at doesn't offer much capital. A 20% stake gets around $17 million. Investors at this point need to hope that good news comes from somewhere before this deal is finalized.
I know they need the money, but an equity investment from Stellantis would be ugly right now.
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