RE:RE:RE:RE:RE:RE:RE:RE:RE:Moving ahead?L&L, to answer your 2 questions-
1.Firstly, you do know that that I have stated previously Balkan Gold would get the existing license from Ibar Mines at Pobrdje. IMO, there will be separation between receiving the two licenses by Balkan Gold, they won't be issued together.
IMO, there will be separation between the issuance of the two licenses from now until Dec/24. That will allow Balkan Gold to get on with their business of upgrading the underground Pobrdje mine to meet the required safety standards, prior to mining the remaining colemanite and hiring unemployed coalminers as a labour source.
The News Release of Feb 28/17 clearly states "receiving Pobrdje would be a significant development for Erin, aiding in the derisking of the develop of our Piskanja project".
My interpretation of this sentence is quite clear, that TD's is stating the progression order in this
statement as to how it will occur.
Never mind all the meetings he has attended regarding the Pobrdje license with the Ibar Mines, the Miners Union, the Ministry of Mining, hosting a meeting with the Cdn Ambassador of Mining,
the Trade Minister, Ibar Mgmt and local Miners & the show & tell at the Pobrdge & Piskanja properties.
Don't forget our relationship is tight with Ibar Mines as we have been a tenant on their office site for 30 years. My point being we are fully connected with all of the stakeholders involved and I highly suspect Pobrdje will be awarded to our subsidiary Company Balkan Gold, who are all Serbian employees. Enough said....
2. At this moment in time our staff expenses are minimal as we are done with our workload for now,
just waiting for the Ministry to issue the exploitation licenses. If we receive the license next week for Pobrdje and a Partnership with $ is announced we probably won't need a PP to get the show on the road.
IMO, once Balkan Gold receives the license transfer from Ibar Mines for Pobrdje, I suspect if we don't announce a Partner at Pobrdje, we would obtain a short term loan of $2M? to upgrade the Pobrdje underground mine to meet the required safety standards to operate the mine.
We shall see how it all unfolds, a few options which will determine whether a PP is needed.
(bb-99)