RE:RE:RE:RE:RE:Buyout after Mining LicenseActually, Temas can pretty well throw $$$ at an accerlated rate.
As all other conditions precedent have been satisfied, and the final outstanding condition was approval of the TSX Venture Exchange, the Transaction with Temas is officially approved and becomes binding on the parties effective immediately (as of July 26, 2021).
Pursuant to the terms of the Agreement, the Company has provided Temas with the irrevocable right and option to earn up to a 50% undivided interest in its Piskanja Borate Project (the "Property") located in Serbia.
Temas has the right to accelerate the Option expenditures. Balkan Gold will remain the operator on the Property (the "Operator") until such time as Temas has exercised the Option and earned its 50% interest in the Joint Venture, at which point Temas has the right to become Operator.
"Undoubtedly we are stronger with them as our partner." said Tim Daniels, CEO of Erin.