RE:RE:Mongolian Co-ownershipWell, if the rumblings out of UB about the press of time for loan approval and spending to get ratcheted up at OT are correct ...
ETG is now in a position to negotiate hard.
Q: How do the lenders take their security over OT without ETG agreeing to a transfer or encumbrance of their licences and amendments to he Earn-In Agreement and an accomodating JV agreement? A: They can't.
Q: Why would ETG permit transfer of their licenses without equivalent to the TRQ IA covering both their JV and 100% ground on those licenses? A: They shouldn't and hopefully won't.
The Mongolians say they expect an announcement in December ... Time now on our side as we predicted would be the case once underground development was near.
Big question is how does that translate into more drill data at HNE ? Maybe an exploration budget and Greggy allowed to place the drills?
cg