RE:RE:RE:Buyout after Mining License One of the other village elders can correct my message, but I have been following this and think I have a reasonably good answer.
I don't think we were ever privy to the details of the partnership with Temas, but if I understand correctly, they could throw in investments as need be through to a certain date, that date being in and around mine construction timing. I'm pretty sure they can put their money in at any point up until then, so if someone came along and wanted to buy the whole package for $250M, they just toss in the $12M or so and they get half of the $250M. Something like that. It's all in one of the news releases going back away so think. It was said that Temas had to hit certain timelines to get things done, that is Step 1, Step 2, etc. I don't know if we know the dates but they can't be too stringent at the rate they are moving. I believe if they don't keep up with these and basically bail out, their investment to date keeps a percentage interest and can earn a royalty off of it down the road, something like that.
Now Tim said Step 2 would cost $150,000 Canadian way back in like 2020, but that was probably way off the mark. He just throws inaccurate amounts and dates around to get through the AGM's and essentially the year, or to raise money for PP's. I'd expect it would be $500,000 now but what would I know. This was all easy picking for Temas when they were new and shining. Now they are bottom dwellers like us and AIML. You gotta move the needle on the Junior exchange or you get tossed aside in a hurry. They do seem to be able to raise money though.
At any rate, we are a big pile of paperwork, and two approvals away from the medium term finish line. They just have to put their noses down and push through. They have to keep costs to a minimum too. Another stupid PP and we will be stalled again.
And as I have been saying for a couple of years now, complete step 1, then step 2, and then step 3. Everything else if fluff. Considering it Dec 2022 and Step 1 hasn't been submitted yet, why would we expect the share price to be any higher? I guess at least it's done. Now let's see if we can find a big brown envelope and drive that paper down to the Ministry. Oh, and get cracking on Step 2, double time.
Oh man, I went on a rant again! Dang it!