Post by
tdsb on Apr 11, 2022 5:40pm
Uncertainty
This is my understanding, this company has been allowed to drill and define this boron deposit but they don't have a mining licence to develop it. This has been going on for many years possibly 15 years but nothing has changed in all that time. They still don't have a mining licence. They have taken on a joint venture partner but their agreement hasn't been fulfilled. I don't think it ever will. Meanwhile Erin Ventures keeps doing Private Placements and share rollbacks to keep investors interested.
Now the share price is at 5.5 cents and at some point they will need to do another Private Placement to keep their company alive. Without the mining license they don't really have anything. They will soon need to do another PP to raise money but the share price is too low. They may try a reverse split and try to raise money at 15 cents because the dilution at these prices would be horrendous. This deposit will be developed but I don't know by whom and I feel the investors here are being short sighted in Erin Ventures intentions. Correct me if I'm wrong. What are the thought out there on the viability of this company? CHEERS!
Comment by
Lanagold19 on Apr 12, 2022 1:19pm
How many NEW mining lics. have been given out since the conflict. New ones not existing renewals..
Comment by
iamlickzy on Apr 12, 2022 1:48pm
At least one to Rio Tinto (though revoked); wonder if it took them the better part of 2 decades to put together? hopefully your boss gets it together but I am not optimistic.
Comment by
Lanagold19 on Apr 12, 2022 4:08pm
Iam.. What are you a parrot now.
Comment by
Lanagold19 on Apr 13, 2022 11:39am
My average is fine IMO. Since the conflict show me ONE new mining lic. that has proceeded. Not an existing one a new one. Who do you think IYO will be the first one to get a mining lic.