RE:RE:RE:RE:RE:What is the hold-up?L&L,
My comment to your statement - "Why would BONE spend $ on Part 3 if the goal is a buyout" ?
At one time I was under the impression Piskanja would only be a buyout, but now I no longer believe there is only one Option.
If I be the devils advocate-
IMO, there are multiple Options to choose from, so don't get hungup only with a single Major buyout option.
This property could have multiple Majors competing for it, or No takeout sale, with Boron One taking it to production, then hiring a Operations Contractor to mine it for the LOM. Lots of Options and maybe more...
I often wonder what are Serbia's wants & needs for Piskanja?
Keep in mind politically Serbia carrys alot of clout, as this mine is in their back yard!
Only the #1 Insider and the Ministry knows for certain where we are going & how we are getting there....
On the Dec 11th News Release TD stated this-
We are eager to receive the Ministry’s Approval for the Exploitation Field so that we may proceed towards the design and approval of the construction plans for the mining and processing facilities, and ultimately the completion and approval of the mining facilities themselves”. Could it be this statement is Clue #1 of what's to come?
IMO, TD will not entertain any buyout options for Piskanja until our share price is multiple dollars & Bone has finished drilling the Piskanja property, as per last week's approval for another exploration license at Piskanja. Clue #2.
So while these things unfold could it be Boron One will complete Part 3 for the completion date of Sept 25, 2025.
I do know however, in the last town meeting TD had a graph that stated "Piskanja is an excellent takeover target'' so maybe eventually a Piskanja property sale could occur, through negotiations, but only on a majority vote infavor by voting shareholders through recommendation by our BOD's. Has TD already discussed Piskanja with a Major?
Also I wouldn't be surprised if the Piskanja mine is contracted for construction by a Serbia Mining Engineer firm based on his comments from this slide at the townhall meeting.
Capex to build the Piskanja mine - $61.5M-US.
Breakdown-
1.Equity - Financial Partner $23.5M
2.Off-take Agreement - $5M
3.Debt Financing -$33M from Serbian bank at a low interest rate.
It makes me wonder if the Serbian, political will is pushing for the Piskanja mine to be constructed?
The way I see it, TD is covering off & leaving all his options open, and in the end the right decision for the Piskanja property will occur.
Keep in mind, I have mentioned previously when Erin completed the first PEA, based on the numbers in the Report, the share value with a mining license was calculated at $5/share & at $11/share going into production, after the mine was constructed.
Piskanja mine construction due date is Sept 25, 2030.
Fast forward to today, with the rarity of the industrial mineral boron, and it now listed on the Critical Minerals list in Europe, these numbers could be a fairly accurate cost value at Piskanja.
There are allot of irons in the fire now, such as a committed Financial Partner,
Part 2 in progress outcome, the Piskanja mining license issuance, Pobrdje contract signoff, the Jarandol basin News update, a potential partnership at the basin, off-take Agreements, etc.
I just don't see a fast selloff closure occurring any time soon.
Just my take on matters.
(bb-99)