The Bullionaire 873 Followers

Summary

NioCorp holds about $405 million in cash, and the market values the whole company at about $444 million.

I tested four bear arguments: rising capital is a priced risk, and scandium, dilution, and EXIM each partly hold.

Scandium is 38% of study revenue with no binding buyer and a Chinese price a quarter of the study's.

After a 35% equity raise near today's price, I put the value around $5.44 a share at a 10% real rate.

Speculative Buy, $5.40 price target, a small position; Ivanhoe Electric stays my preferred developer.

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NioCorp (NB) is a company that has not yet made any revenue, holds around $405 million in cash, has no debt, and possesses the main construction permits for an eight-product critical minerals mine in Nebraska.…