RE:Details of the dealMyrty1, I beleive the 1st question you asked is covered by the following condition in the proposed partnership-
- An included dilution provision will state that all cost overruns beyond the 10.5M euros obligation by Temas are to be equally shared by Temas and Erin. In the event that one party chooses not to fulfill its funding obligation, that party's interest in Balkan Gold will be diluted. If a party's interest falls below 10%, such ownership is converted to a 2% net smelter royalty or 10% of net profits interest.
Firstly, I expect both parties to complete their dd by the end of Feb/21 and then pursue preparing the binding partnership agreement with their lawyers, prior to releasing document by mid April.
IMO, it was Tamas Resources who purchased the PP just before the News Release was announced showing their committment towards the partnership. I expect Tamas will reap large rewards during share selloff from initiating the PP investment.
(bb-99)