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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by rob926on Mar 18, 2015 12:10pm
149 Views
Post# 23534040

RE:RE:Joint Venture and Shareholders Agreement with Freeport News

RE:RE:Joint Venture and Shareholders Agreement with Freeport NewsBy Serbian law they have to do a feasibility study within 4 years. It appears the have extended the original bankable feasibility with Reservoir to 2025. This is why they are breaking the high grade discovery out and going for a feasibility study to satisfy Serbians. I think the 25 million dollar claw back has something to do with what happens if they move to mining before an international bankable feasibility study is completed. This high grade deposit will not be an open pit mine it is way to deep. It will take a long time to prove the porphyry size and if it is mineable. I heard that the porphyry will probably not be mined for 20 years so we probably will not get much value for it if we sell the discovery. It would be in the best interest for Freeport to drag out the porphyry feasibility until 2025 or until they buy us out based on the high grade discovery.
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