Reclassification of exploration assets in 2015 (+US$428 M)Erin has exlusive exploration license within Jarandol Basin hosting Piskanja and Pobrdje.
Potential partnership between Ibarski Mines and Balkan Gold for Pobrdje in 2015?
Pobrdje: Erin's presentation has the Pobrdje deposit having 250,000 tons of boron.
Assuming a constant price of US$400/t for colemanite (below current market price of
US$500/t) = US$100 million (present value).
200 tonne sample taken from Pobrdje boron mine meets prospective partners
expectation and requirements (commercially viable?).
Piskanja: Erin's PEA estimates Piskanja at US$428 million (NPV) with Pre feasibility by end 2015.
Erin will determine/reclassify exploration assets once technical feasibility and commercial
viability of porperty is demonstrated (it is reclassified from exploration and evaluation assets
to property and equipment).
Junior gold Report : At a conservative 10X cash ratio on furure earnings,
Erin's stock should be trading around $3/sh..