New to the board :) Hi everyone, I have been watching your posts for quite some time and following this deal as it unfolds. I am happy to say that I too am now a shareholder of both EV of TMAS and am so excited to be on this ride.
Over the last few weeks, we have all seen the anxiety playing out on both the EV/TMAS boards and in the market....
I am certainly no expert, but here is my take on things...
April 14, 2021 - TMAS announcement:
The first important point to note about this communication is the language used. It is SO IMPORTANT. They have used some key words like, 'favourable', 'definitive (2x!)' and 'imminently' - those are certainly by design and meant to convey more than just the facts.
Again, I am not an expert, much less a language expert, but the carefully crafted word used in a shareholder communication, ‘contemplate’ is certainly different from ‘definitive’.
In December both parties were projecting their best guess as to when they might be able to get all the terms of the LOI formed into an agreement. I am sure we will never know the play-by-play, the way we speculate on these boards, however, a little bit of digging around and we may be able to gain some deeper insight....
On August 31, 2020 Erin announced to shareholders that it had filed for a 3-year extension on its license. A successful renewal would have certainly been one of the key terms in the LOI to find its way into the agreement. It seems to me that this may not have been in place by April 15th. Did everyone see the press release from May 6, 2021? Erin Ventures Receives Boron Property License Extension (accesswire.com)
My guess is that this was THE MAJOR hold up in completing the terms of the deal. We can only speculate what else may be needed to cross that finish line, but in my very humble, uneducated, non-expert opinion, I think that this deal is certainly imminent and we all just need to chill (and capitalize on others panic selling) while management makes this happen.
Good luck to all !! :)