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6/18/15

Your savings choices expand if you happen to be the Chair of Niocorp (NB.to)

So, let's see now...here come the choices:

1) Put your U$1.5m in cash into a time deposit paying an annual compound of four lynx's farts.
2) Put your U$1.5m in cash where it earns U$225,000 U$187,500* in one flat year

NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3), is pleased to announce that the Company has arranged a loan agreement dated June 17, 2015 in the amount of USD $1.5 million from Mark A. Smith, Executive Chairman of NioCorp, which will serve to further improve and refine the Elk Creek Niobium Project. These funds will contribute to work done on the Preliminary Economic Study (PEA), additional hydrological testing of the planned mine site, and additional hydrometallurgical work necessary to keep the project on its original timeline for completion of the Company's Feasibility Study. The one year term loan will bear an interest rate of 10%, is secured by the Company's assets pursuant to a concurrently executed general security agreement, and is subject to both a 2.5% establishment fee and 2.5% prepayment fee. continues here

Tough one, yeah? Beats me why these mining executives bother with the sector, there's no money in it.


*read the 2.5% pre-pay thing too quickly. Still, 187k is still handy moolah