Jim, if I take your figures and considerations for further calculations I come to a value between 0,29 to 0,43$/share with the following assumptions:
120 Mio lb indicated with valuation of 5% of Niob value
1040 Mio lb estimated with a valuation of 1% or 0,05% of Niob value
total value 23 Billion $
10% with 5% results in: 0,15$
90% with 1% results in: 0,28$
90% with 0,05% results in: 0,14$
total possible share price after NI: 0,29$ to 0,43$
This is just a model for my orientation where in short term the journey could go. Everybody has his own view, calculations and expectation. This is just mine for the next weeks.