RE:RE:Jarandol basin Hi iamlickzy, attached is our PEA/NI-43-101 document for Piskanja.
https://www.erinventures.com/pdf/2014/U5932-Piskanja-43-101-PEA_Final.pdf
Pobrdje is registered as a Coal Property - Exploitation License #470 held by Ibarski Rudnici which is owned by state government Company EPS - Elektroprivreda Srbije, who own all coal mines in Serbia to supply power for the entire country.
When state owned drilling Company was exploring for coal they drilled at the southend of Ibar Mines and found a white mineral which was boron. Eventually it was included in the Ibar Mines mining plan referred to as Pobrdje, north side of Ibar River.
When Erin Ventures arrived in the former Yugoslavia our original Partnership Agreement with EPS was a 50-50 partnership, and our first drill program authorized under an Exploration License in Serbia was south of the Ibar River, which eventually became known as Piskanja.
As time went on, and after several drill programs completed Erin acquired a !00% ownership of Piskanja and are about to be granted a Mining License upcoming when Part 2 tasks of PFS and Environmental Baseline Study are completed.
Suggest you read this entire 43-101document that was prepared by SRK a leading global mining engineering Company out of Ireland. There is allot of detailed information in the document which will answer any potential questions you may have.
For additional info on EPS-
Elektroprivreda Srbije (abbr. EPS; full legal name: Javno preduzee Elektroprivreda Srbije Beograd) is a state-owned electric utility power company with headquarters in Belgrade, Serbia. It was founded in 1991 and it has 28,083 employees (as of 2019), making it the largest enterprise in the country.
History
The Pobrdje underground mine for borates was constructed by Ibar Mines and operational for a number of years, with colemanite sold and shipped most recently by rail and barge to India. The existing underground mine will need to be refurbished and pass a safety inspection before it becomes operational.
As it stands now, if the Ministry awards the existing Pobrdje mine to Balkan Gold as per the proposed agreement, it would cost Erin about $2M to get the mine operational and pass the safety inspections. To date Temas is not committed to the Pobrdje mine, as there is no mention of them in the proposal submitted to the Mining Minstry.
Likewise, Temas is not attached to exploration of the Jarandol basin that I am aware of today. Supposedly, a third party is interested in drilling the basin, but as of yet, that Company is unknown.
To my knowledge Temas and Erin have only partnered at Piskanja and the $10.5M Euros will only be committed to Parts 1&2 ($3M Euros) and the balance of 7.5 M Euros to the CAPEX for the mine.
Just to clarify matters, Rio Tinto never, ever had control/ownership of the Pobrdje existing minesite. The exploitation license has only been held by Ibarski Rudnici and not by any other companies.
Enjoy the read and have a great day.
(bb-99)