RE:RE:RE:RE:RE:Make a difference 2010 when Erin got Piskanja back this article came out about Erin:
NEW YORK, NY (PRWEB) SEPTEMBER 10, 2010
EV.V has regained ownership of the Piskanja Boron deposit in Serbia, the 3rd largest boron deposit in the world and is in talks with potential strategic partners of size that will be able to facilitate an end market for the Boron and advance the project to fruition. EV.V also has several gold projects of significance, two with near term cash flow potential.
BEFORE the hiatus EV.V had a market cap of ~CDN$88M and then they only owned half the project, NOW EV.V has a market cap under CDN$15M and has 100% ownership plus they have potential near term cash flow scenarios on several fronts; needless to say with only ~123M shares outstanding (fully diluted) and trading under CDN$0.15, shares of EV.V appear poised for significant upside revaluation.
The Piskanja boron deposit has a historical (non NI 43-101 compliant) estimate of ~7.5M tonnes grading 39% B203 (boron) and it appears to Mining MarketWatch Journal from its own (non 43-101) interpretation that the probable numbers are 10 - 12M tonnes and possible 20M+.
(so far) being arsenic free. Erin's license covers ~3 square kilometers containing an ancient lakebed whereby the boron was deposited through volcanic activity and it is believed there should be boron throughout -- so far EV.V has explored only ~4% of that basin yet has already established the 3rd largest deposit in the world. EV.V is in active discussions with potential strategic partners of size that will be able to facilitate an end market for the boron and advance the project to fruition. Besides the flagship Boron project Erin Ventures also possesses potential near term cash flow scenarios on two key gold projects of significance:
1) Erin Ventures has controlling interest in the Santa Rosa open pit gold mine, Panama, a past producer with 60,000 oz/annum capacity facility shutdown a decade ago with then (now consider historical non 43-101) ~900,000oz proven and ~1.5M oz resource of gold at a grade averaging 1.3g/t using gold price of $350.
2) Erin Ventures also has near term cash flow potential from their 100% owned Volujski Kljuc alluvial gold project, Serbia. Systematically drilled revealing (historic non 43-101 compliant) 29 million cubic metres of auriferous gravel grading 0.29 g Au/cubic metre from surface to bedrock. Low cost to bring operational.
Note: Erin Ventures is well capitalized and will be the recipient of US$700,000 upon the successful completion of the recent sale of its Belize gold project, EV.V will retain a 3% NSR.
https://www.prweb.com/releases/2010/09/prweb4481974.htm
I remember TD mentioned on one of the CC's, EV's lawyers have told him they would easily win the $15M lawsuit. How much of a dillution has there been since this lawsuit came about, and why has nothing ever been done to recover this money, at a time when EV could use it? Tim said he was in no hurry that the lawyers were not costing us anything.