On 11-21-12 P. Dickie emailed this to me: "As far as the interested parties you refer to, we have non-disclosure or confidentiality agreements signed with over half a dozen parties concerning the project. Transfer and review of data is a very time-consuming issue, and in some cases, has been ongoing for many months now. However, when they will make a decision is entirely up to them – we have no way of forcing the issue. As to your suggestion to simply sell the assets lock, stock and barrel, our duty is to create the greatest value possible for shareholders, and if that is realized through a buy-out of the entire asset, then we would certainly consider that. To date, we have not received any such offers."
1. One year later and the identity of those alleged "over a half dozen parties" remain unknown. Logic suggests that some, if not all, have since dropped any purported prior interest. So why the continued 'secrecy' by NIOBF?
2. Given the projected cost of the NE NB mine of up to $500 mil, why in the world would any of the so-called interested parties (previously described to me as 'major' mining players) have ever considered any form of a JV agreement when it/they would have been funding the entire cost of mine development, since NIOBF has no meaningful cash reserves to contribute?
3. in turn, logic has it that one or more of these presumably 'deep-pocket' "parties,' it truly intending to see a NB mine developed, would have first bought the relevant Nb assets for a fraction of the cost of building the mine and then would own 100% of the operation.
4. In short, it's difficult to believe the NIOBF 'storyline.'
Like I'd ever make my buy and sell decisions based upon vacuous postings like yours.
Too, I've seen similar goofball bunk posts that remind one of the so-called "silent majority's" witless rantings in the 1960s and early 1970s respecting informed critcis of the conflict in Vietnam:"Love it (America) or leave it."
Finally, no one puts a gun to your head and forces you to read-much less respond-- to wholly deserved critical comments about NIOBF mgt. Get over it!!
I have held shares for three years. I too am interested in some "real" progress concerning this company. Many promises. Little happenin. However, imho your continued bashing and pointing out the obvious shortcomings do nothing to help the value of my shares. Please attempt a little less vitriol when posting. If any one was considering an investment in NIOBF they might be scared off by your rants. Bottom line my shares sit stagnant and you do nothing to change the situation with your posts.
I speak to the company on occasion and I am less than thrilled by the lack of closure on some part of the PP. I am surprised Northland even wanted to go in on a deal since NIO is too small for them. Seems they are stalling and other funds are still in the mix. My hope is Mark Smith can close on a partner once they get a PEA. Peter Dickie could not deliver but he spent a lot of his own capital keeping the company afloat. Smith gives NIO instant credibility but unless we can turn NIO into gold, it does not amount to much. I have been in this stock for over 2.5 years and am disappointed by the lack of progress. However, my p/l is around break even. I look at NIO as a risky money market fund.
If NIO gets fantastic results, you make the funds pay much higher in a PP. Have to be willing to take a chance.
I realize that for some people 'reality bites,' you quite evidently among them.
Laughable is your characterization of my fact-based postings as "rants."
Too, equally farcical is the suggestion that my deservedly critical comments and questions have the capacity to 'scare away' potential investors. Pure gibberish. Any investor who makes her/his buy or sell decisions based upon the board postings of others is a total fool.
The scant daily trading volume, coupled with the FACT that the first phase of the private financing was hardly well subscribed tells us--as things presently stand anyway-- that there just isn't much 'outside' investor interest--again, about 2/3 of the 6mil+ shares at $.15 were bought by just two company officers, Smith primarily, while Dickie ponied up about $75K. And that was just about 1/6 of the total hugely diluted shares they want to sell in order to raise approx. $10 MIL(!) to cover 'operating expenses.'
So, given the year-long 'non-plunge into financing by any of those claimed, but still unknown, "half dozen parties," that seems to speak volumes.
Finally, you're hardly the only person who has held shares for several years-- I have too. But as things stand, I can't say I have much faith in the capacity of management to 'pull this off'-- which is why I remain convinced that given the assertions that Elk Creek holds many $ billions worth of Nb, shareholders would be best served by the company selling off the property so as to derive some investment return value, and for the very specific reasons already explained.