RE:soft FID ?The Municipality would never do anything to undermine PEA. That option is just there in the event the project is dead in the water AND the municipality has someone else that wants the propoerty. (Fat chance of that, but just in case.)
The more interesting, and strange, option is that PEA can force the municipality to give them their money back. Who knows why they would bother to have a back dood to get a measly $3m back if everything falls through. (?)
dalerules88 wrote: new to this stock, but the "soft" part of FID may have to do with the municipality option to buy back ppty by Dec 31/2019 if FID not reached
from MD&A
PROJECT SITE The proposed site for Goldboro is located in the Municipality of Guysboro, Nova Scotia. It consists of approximately 107.5 hectares (265.5 acres) of undeveloped land situated within the Goldboro Industrial Park. The site was chosen as the location for Goldboro for several reasons. Firstly, the Goldboro Industrial Park is the Canadian ending point of the M&NP. It is also landfall for the Sable Natural Gas Pipeline which could eventually provide more feedstock. The site also has sheltered access to the deep water of Isaacs Harbour. The Company has completed some land deforestation and grubbing at the site. Pieridae Energy 2018 Annual Report 14 Pieridae has the right, exercisable on sixty (60) days prior notice at any time before March 31, 2020, to require the Municipality to repurchase the site for $3.2 million on the terms and conditions of a put option registered against title to the site. In addition, the Municipality has the right, exercisable on sixty (60) days prior notice, to repurchase the site for $3.2 million on the terms and conditions of a call option registered against title to the site if Pieridae either: (a) fails to make a final investment decision to proceed with the construction of the Goldboro LNG Facility on or before December 31, 2019; or (b) fails to obtain all regulatory permits that are necessary to construct the Goldboro LNG Facility on or before December 31, 2019.