RE: So did we have a headsup of sorts?Hi Whaler.
"So is Erin truly "blindsided" by all of this??"
Have a read through Erin's News Release from Oct 9, 2003. Do you think that the "commission for conducting tender procedure under the DECISION ON GRANTING CONCESSION for examining and utilising boron ore at the Jarandol tertiary basin, in the area of Baljevac." could have been believed to be the "government-appointed concession committee charged primarily
with the task of ensuring the implementation of the concession agreement
and overseeing Serbia's interest in a concession." as stated in the news release below?
Do you think Erin Management left it to chance that this would go up for tender? Don't you think they would have likely been given assurances along the way? Do you think that Erin would have continued to maintain that they owned the property in their press releases if they knew this was goin up for public tender? The word tender could mean a tender process with Erin being the only participant. It would not necessarily mean that it is a public tender. What if Erin was told this exact thing. We can sit here and speculate forever on this. Bottom line is, Erin thinks they own the property and the govt or certain individuals in govt it appears have gotten a "better offer" so to speak and decided to put it up for tender. I am guessing that they were hoping that Erin would roll over and go home with their tail between their legs. I don't think that will happen.
I keep asking myself how a govt can approve a proposal in parliament and then turn around and completely ignore the decision and put the property up for tender. I have spoken to Blake and believe me, he and Tim have much more at stake here than you or I. I believe they are very trustworthy and would not have devoted so much time and money to this venture if it was a pump and dump. Who are you serving by throwing out all of this doubt as to what Erin might have known? I believe if you are a long, now is the time to stand behind Tim and let him focus on the task at hand which is securing ERIN'S RIGHTS to the Piskanja property. We are all on the losing side of this right now and all are concerned and frusterated. Everyone saw the word tender used over and over by the govt and in fact in Erin's press releases. If it made you uneasy, then that was the time to sell. Sitting back now and pointing fingers accomplishes nothing. Shoulda, Coulda, Woulda mean nothing now. Let's hope that Tim has the business instincts that we all think he does. It is not the past we are interested in, it is the future...let's hope ours is still bright.
______________________________________________________________
By way of update and clarification of recent events, Erin Ventures has
disclosed the following.
In June of this year, Erin submitted a formal application for a mining
concession covering the Jarondol basin region in Serbia, for the
exploration and exploitation rights to boron. This concession application
was intended to replace the original joint venture agreement between Erin
and the Serbian national power corporation that was signed in 1997. This
new proposal was submitted by Erin only after extensive consultation with
the appropriate Serbian government authorities, and is in keeping with the
recently enacted Serbian concession law as it pertains to mining, the
environment, foreign ownership, and other laws and considerations. Erin is
of the opinion that this new proposal offers considerable benefit to both
Erin and Serbia, relative to the original joint venture agreement.
On Aug. 28, the Serbian government officially accepted and approved the
proposal in Erin's concession application, during a formal sitting of the
government.
This government approval, as stated in the concession law, is subject to:
Erin and the relevant government ministry (or ministries) entering into a
binding contract, detailing the parameters of the concession; an
independent legal opinion on the granting of the concession; and a review
by an expert, government-appointed concession committee charged primarily
with the task of ensuring the implementation of the concession agreement
and overseeing Serbia's interest in a concession. The government has
developed a framework for the process that helps to limit the potential for
delays in obtaining the required ministerial and committee reviews, in
order to ensure an efficient and expeditious completion of the process.