Boron One Holdings Inc V.BONE

Termination Date

[ListenandLearn]

Input anyone?
Balkan Goold has the legal obligation under theSerbian Mining Law to meet certain deadlines as it pertains to the dfferent stages of its mining expoitation license process.

From many EV's NR:
"The law affords Erin up to 3 years (from the date of the license extension approval) on this license phase, and requires Erin to complete the necessary studies and gain approval for the “Certification of Reserves” as well as the “Approval of the Exploitation Field”, as the first two (of three) steps in the mine licensing process.  

-> The exploitation license was granted on September 25, 2020 bringing the above deadline yo September 20, 2023

No compare this deadline to the JV First Milestone Termination Date.From the JV document::

"“First Milestone Date” means September 25, 2023; (s) “First Milestone Events” means (i) prepare an Elaborate of Resources/Reserves (a resource calculation with technical economic assessment) and CIM compliant preliminary economic assessment (PEA), (ii) receive Certification of Reserve, (iii) prepare feasibility study on mining of the mineral deposits, (iv) receive approval for content for an environmental impact assessment (EIA), (v) complete hydrological testing and study, and (vi) submit to the Ministry the feasibility study with request for approval for the exploitation field (or approval for exploitation).

 

So basically, EV has given the excluvie rights to Temas to drag this until the last minute before being able to terminate the agreement.  If that were to happen (i.e. Temas does not put any $ into EV and lets the clock run out and EV loose Piskanja because of a missed regulatory deadline), how would EV get out of this bind? 

[Lanagold19]

what do you mean how would they get out of this bind.. They will get a genius like you to save us all. 

[ListenandLearn]

For clarification: (1) Temas has an exclusive JV with EV, (2) EV has to meet certain regulatory deadlines to keep its exploitation license in good standing, if not they loose the rights to Piskanja, (3) A first milestone thus a major deadline is September 23, 2023, (4) Temas is responsible for all expenses to meet this deadline, (5) Temas can't or doesn't provide any funds to meet their

[Lanagold19]

Just what we need here no shares Cal to save the day. What would we ever do without you. Why not just call Blake. But we all know you aren't going to do that are you. For clarification.. Why not go buy some stock first. Oh yeah not an option at this time I beleive was the answer.. that's just great.. 

[HarryCrumb]

Tim and Blake took whatever deal they could, affording them the opportunity to move onto their next venture and leave this behind. Knowing in all likelihood that come September 2023 the play clock runs to all zeros. Well played by all the parties!

[tmp251000]

Harry if you truly believe this is going to zero .......then you should sell and position yourself in a rocket stock ..... it just makessense to put your money into a stock which will make you money............I think EV will make me money.....

[ListenandLearn]

Read my next post. I'm hoping it won't go to zero. But did'nt I ask a reasonable quesstion? Let me put it another way: If Temsas doesn't put any # into EV, at what point will EV have to find alternate funds to pay for the PEA and the other work involed in meeting that September 23, 2023. They're already 2 years late in submitting their resource estimate. Put another way. Hope