Boron One Holdings Inc V.BONE

Jarandol Basin

[Irving2.0]

Great to see things progressing slowly but progress none the less. I assume this has been answered but what happened to the basin? As well small  property Pobrdje. Does Boron One still have rights? Or at some point get them back if lost?

still watching and waiting hopefully 2024 puts some coins in our pockets

[minepic]

The mining law has a gap between exploration and exploitation where, once you apply for exploitation you are no longer permitted to continue with any activities til license awarded. It appears that this hole has been repaired with this license. Tim indicated to "stay tuned" on Jarandol so some kind of update should be coming. Small deposit should come our way (one miner in the basin).

[blueboron99]

It makes a person wonder if TD is getting Piskanja gift wrapped for a sell off to a Major Company. I expect after BONE is finish with drilling Piskanja, drill(s) will continue into the Basin to determine if both properties are officially connected with boron. Minepic, I agree 100% that BONE will receive approval on our proposed Contact to complete mining at Pobrdje & also receive an

[ListenandLearn]

It would be really good news if BONE still maintains interest in Jarandol.However, there are 2 issues to circumvent:  1 - Bone is not eligible to reapply for the Jarandol exploration License since it was relinquished. 2 - No exploration work has been done on Jarandol since Kop acquired its license. Exploration licenses always have a minimum amount of yearly work required to keep it in good

[UterReborn]

I too was questioning the need for Osmose at this point. But, with this NR and the Jarondal NR Tim alluded to, it may make sense now.   If BONE intends to launch an extensive drilling program on Piskanja  and Jarondal (e.g., 4 or more drills going), they will need millions to do this. The funds from Osmose could get this effort started soon. Plus, for certain the first few holes will

[ListenandLearn]

Uter, How could BONE drill Piskanja if Osmose's final ownership % of Piskanja is unknown? As long as mine design is not completed, Osmose will not own more than 25% of Piskanja. $ contribution from Osmose for the last 20% of Piskanja is not due until mine design is completed and that could take up to 2 years. In the meantime, there is no glory for BONE to be paying for Piskanja drilling costs

[ListenandLearn]

Furthermore as per TD in the NR on the LOI: "Importantly, the amount of capital committed by Osmose is anticipated to be sufficient to fulfil the equity component of the project development funding needs, through to completion of the project".

[UterReborn]

Upon finalization of Osmose deal, they purchase 35.5M shares of BONE (~$4.26M) and thus own ~15% of BONE. With cash injection for CofR+FS (a little late mind you), they will own 25% of Piskanja. I don't know what the details of the final offer will be, but Osmose will own at most under 20% of BONE and either 25 or 45% of Piskanja. Any reasonable buy-out option will make them a good return. &

[ListenandLearn]

Fine, yes, BONE could fund the drilling but....  Let's say BONE comes up with a $4M drill program for Piskanja. If Osmose owns 20% of Piskanja then their contribution to this program would be $800K. If Osmose owns 45% of Piskanja, their contribution goes up to $1.8M.  It's that extra $1M that's in play. That's how I read it anyways. As for Jarandol, from that NR

[blueboron99]

UterReborn, After reviewing the last News release update on the Jarandol basin I would agree with you that "Kop Project" is still in good standing with the Ministry. IMO, there are two key conditions in the last News Release which will determine our fate with the Jarandol basin and I believe it will be a positive outcome with a renewed mining license. 1.The Jarandol license covers 20

[ListenandLearn]

For what it's worth, here is what's in the Serbian Mining Law: The request for an extension of exploration period referred to in Article 38 of this Law shall be submitted not later than 30 days before the expiration of exploration deadline determined by the approval of exploration, provided that at least 75% was carried out of the project planned volume and dynamics of

[ListenandLearn]

You've hit on an important point BB, namely that the Jarandol exploration license is only valid for a maximum of 8 years -> And they've already used up half of that without doing any drilling! It took BONE like 10 years and around $10M (I'm just eyeballing that #) to explore the 3 square kilometer area of Piikanja. How long and how much $ to explore an area 7 times as big? Pobrdje

[blueboron99]

L&L, TD provided the CAPEX cost breakdown at the last town hall meeting as follows- 1. Equity Finances would be provided by Osmose $23.5M-US (PP tranche) 2. Off take Agreement of $5M-US by a boron purchaser. 3. Debt Financing of $33M-US from a European bank at a low interest rate.  * As per LOI- PP funds were being distributed to Erin and TD decided to apply monies to CAPEX.  

[ListenandLearn]

BB, Not sure what the CAPEX costs have to do with exploration of Jarandol or of Piskanja's ? Seems to me that we'll be very old men before we ever see a Jarandol CoR.... As for drilling Piskanja, $3-4M should be enough to have a good idea of its complete geology. Not bad if the SP is 50 cents or above but I don't think anyone here wants to see a PP at the current SP level - I don'

[tmp251000]

I figure drilling on Piskanja wont happen until exploitation licence granted....or later  ......it is to cover any gaps in licence at this point