RE:RE:RE:Decision of EU not to open chapters 23, 24...Calabrese wrote: VB posted:
1. Whether or not Serbia joins the EU by 2020 or later, this procedural delay in the EU integration process has no impact on Erin Ventures. If there is a contagion effect due to Brexit, there may not be an EU to join. This may have a huge impact on EV.
The Brexit vote is just the beginning of a very long process and it may ultimately go nowhere. Britain still needs to trigger Article 50 which starts a process that can take up to 2 years to complete. The two-year negotiation period under Article 50 can be extended only with the unanimous agreement of the remaining 27 member states. There are now groups within Britain who want another referendum on Brexit because many who voted in the referendum did not understand what they were voting for. Also, legal arguments are being drafted to prevent a Prime Minister from simply triggering Article 50 without a vote in Parliament. This will take a very very very long time to play itself out.
Basically it's up to 2 years from the triggering of Article 50, if it gets triggered at all, before anything happens. Many countries have already said that they will not have a referendum on remaining in the EU and Turkey, Montenegro, Serbia and others are still trying to join the EU.
There is no impact on EV. None. Nada. Zip. Brexit may not happen until long after EV has a mining license... if it even happens at all.
2. We all know that if Pobrdje is not given to Erin Ventures, we're looking at another year before the Feasibility Study and two more years before production. If Erin Ventures is given to Pobrdje, traditional financing will be available and cashflow will begin in 6-8 months. When did Pobdrje become the central issue with EV. What happened to updating the BFS and acquiring a mining license.
EV needs $3 million (more or less) to do the work required to complete a Feasibility Study. We all know that they don't have it. It will take 1 year to complete if they had the money. I expect 1 year for the Feasibility Study when and if they get the money. A mining license comes after a Feasibility Study. From what I understand, if EV was given Pobrdje, they could get traditional financing to pay for the upgrades to Pobrdje and to pay for the work required for the Feasibility Study and further exploration of both Piskanja and Jarandol. I don't like it either but PP's and CD's are not enough to get us where we need to be. A higher share price would trigger the purchase of warrants and that would also help.
3. A buyout or JV partnership is a very remote possibility, in my opinion. This has become a remote possibility because of mismangaement of the company and painting EV into a corner. Are you suggesting that no company is interested in a JV or buyout of EV? I would venture to say that most shareholders believe that TD does not want a JV or partnership.
You would be correct that most shareholders believe that TD does not want a JV or partnership.
VB