Post by
101724 on May 31, 2023 8:24pm
New company name
Extension Resouces.
It's bad when these goofs miss a contractual deadline and ask for an extension. But when you miss a self-imposed deadline and need an extension, that's sad. With the price of zinc crashing, the longer they wait they will be able to announce that they have a nonprofitable mine they want to build. I'm predicting that they delay the start of construction that they said would begin in December/January 2024 due to the zinc environment even though it will take at least 18 months for completion and who knows where the price a zinc will be. Technically, they think they have until the end of June to put out their report and secure their 80%. I'll have to go back and re-read a news release that I think states they have until June 22. They'll figure out a way to screw that up too.
Comment by
101724 on Jun 01, 2023 6:07pm
Right the first time, wrong the second time. From their December 14,2022 press release: As per the earn-in agreement, the Company has the option to earn an additional 30%, totaling an 80% effective interest in the Project, by making the US$2.5 million payment and completing a feasibility study by June 22, 2023.