Boron One Holdings Inc V.BONE

Buyout after Mining License

[EasyEnough]

Many here have assumed that Temas would own 50% of Piskanja if/when a buyout would occur after the mining licence is awarded to EV.  However, since only a few $100K is needed to get there, Temas would only own a few % of Piskanja as per "Each €210,000 advanced by Temas towards the development of the Property, will earn Temas a one per cent (1%) undivided equity interest in the Property".
Can't see Temas being really keen on the selling of Piskanja when holding only 2-3% of the property.
But that would really be the best scenario for us EV shareholders.

[RJM]

I expect that Temas will own 50% of Piskanja if/lwhen a buyout occurs. In general, the fees for feasibility studies alone range from £1,000 – £10,000+ depending on the scope. I expect Temas will have no problem spending €10,500,000 in work expenditures on the Piskanja Property in 2023/24 .

[EasyEnough]

RJM, Using your highest estimate, the FS represents 0.1% of the expedetures you forsee in 2023/2024. Where do you see the remaining 99.9% being spent on?  Regardless of this, I think that Temas iwill have a heck of time finding ~$200K -  that's 40M shares @ $0.05... 

[Myrty1]

One of the other village elders can correct my message, but I have been following this and think I have a reasonably good answer.  I don't think we were ever privy to the details of the partnership with Temas, but if I understand correctly, they could throw in investments as need be through to a certain date, that date being in and around mine construction timing. I'm pretty sure

[Lanagold19]

MO.. Much of what you speak of has been or is near completion. Merry Christmas.. 

[Moneypit2]

I'll take that bet???

[EasyEnough]

Not quite Myrty, Temas cannot just throw $ at anytime to gain a 50% ownership as per the following: During the Option period, expenditures towards development of the Property will be funded 100% by Temas and will only be incurred under and pursuant to programs prepared by the Operator and approved by the technical committee set out in the Agreement (the "Technical Committee"

[RJM]

Actually, 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

[RJM]

Hopefully we recieve a buyout before the production stage as the estimated expenditure for mining capital is US$ 39.4 million per PEA for Piskanja. An included dilution provision will state that all cost overruns beyond the €10.5M obligation by Temas are to be equally shared by Temas and Erin. In the event that one party chooses not to fulfill its funding obligation, that party's interest in

[EasyEnough]

Yes you are right. Thanks RJM for clearing that up. So 50% it is.

[Cancap22]

There seem to be a couple of extremely important phrases tha could limit the percentage. ".....will only be incurred under and pursuant to programs prepared by the Operator and approved by the technical committee set out in the Agreement" This is controlled by Balkan Gold. "....the Company has provided Temas with the irrevocable right and option to EARN up to a 50%.