Temas article highlightsIn my opinion, the risk for Erin has always been the financial risk and getting a partner to pay for the remaining costs to bring this property into production. I believe that the Temas partnership gives us exactly what we were looking for and we are only giving up 50% of the property with them instead of the 75% that we were going to give up with Investco. They appear to have great financial connections, so raising the 10.5 million Euros does not seem to be an issue. They seem to be like-minded and want to bring this property into production. I believe that this will be a true partnership!
Reading the latest article on Temas, that was released on Friday, these are the two statements that get me the most excited.
For Temas, adding Piskanja to its portfolio didn’t trigger much debate. “It’s such an obvious project,” says Dehn. Put this together with Tim's interview in which he stated that Temas approached Erin to partner shows how excited that they are about this property. Finally, we get a partner that is as excited as we have been for all these years!
The two companies expect to finalize the agreement by April of this year. This does not say in April but "BY" April. That is within the next 2 weeks! Once agin, this shows a partner that is excited by this project and wants to get to work on it as soon as they can.
These statements do not paint the picture of a partner that may decline the deal and walk away. Both of these statements point to the finalization of the partnership and the chance of them walking away, like Investco did appears to me nil.
According to Tim's comments, Erin expects to have the elaborate completed by the end of the first quarter as well, so we could have a press release on the finalization of the partnership and then the completion of the first phase of the mining licence all within the next 2 weeks!!
I don't know who is selling at this point, but IMHO, they will be disappointed.