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Bullboard - Stock Discussion Forum Boron One Holdings Inc V.BONE

Alternate Symbol(s):  ERVFF

Boron One Holdings Inc. is a Canada-based international mineral exploration and development company with its assets in Serbia. The Company is engaged in the acquisition, exploration, and development of its resource properties. Its project includes Piskanja. Piskanja is located in a historical mining region with infrastructure for mining, including roads, rail, electric power, experienced miners... see more

TSXV:BONE - Post Discussion

Boron One Holdings Inc > Buyout after Mining License
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Post by EasyEnough on Dec 06, 2022 1:24pm

Buyout after Mining License

Many here have assumed that Temas would own 50% of Piskanja if/when a buyout would occur after the mining licence is awarded to EV.  However, since only a few $100K is needed to get there, Temas would only own a few % of Piskanja as per "Each €210,000 advanced by Temas towards the development of the Property, will earn Temas a one per cent (1%) undivided equity interest in the Property".
Can't see Temas being really keen on the selling of Piskanja when holding only 2-3% of the property.
But that would really be the best scenario for us EV shareholders.
Comment by RJM on Dec 06, 2022 11:09pm
I expect that Temas will own 50% of Piskanja if/lwhen a buyout occurs. In general, the fees for feasibility studies alone range from £1,000 – £10,000+ depending on the scope. I expect Temas will have no problem spending €10,500,000 in work expenditures on the Piskanja Property in 2023/24 .
Comment by EasyEnough on Dec 07, 2022 5:03am
RJM, Using your highest estimate, the FS represents 0.1% of the expedetures you forsee in 2023/2024. Where do you see the remaining 99.9% being spent on?  Regardless of this, I think that Temas iwill have a heck of time finding ~$200K -  that's 40M shares @ $0.05... 
Comment by Myrty1 on Dec 07, 2022 2:09pm
One of the other village elders can correct my message, but I have been following this and think I have a reasonably good answer.  I don't think we were ever privy to the details of the partnership with Temas, but if I understand correctly, they could throw in investments as need be through to a certain date, that date being in and around mine construction timing. I'm pretty sure ...more  
Comment by Lanagold19 on Dec 07, 2022 3:10pm
MO.. Much of what you speak of has been or is near completion. Merry Christmas.. 
Comment by Moneypit2 on Dec 12, 2022 1:25pm
I'll take that bet???
Comment by EasyEnough on Dec 07, 2022 3:38pm
Not quite Myrty, Temas cannot just throw $ at anytime to gain a 50% ownership as per the following: During the Option period, expenditures towards development of the Property will be funded 100% by Temas and will only be incurred under and pursuant to programs prepared by the Operator and approved by the technical committee set out in the Agreement (the "Technical Committee" ...more  
Comment by RJM on Dec 07, 2022 10:31pm
Actually, Temas can pretty well throw $$$ at an accerlated rate. As all other conditions precedent have been satisfied, and the final outstanding condition was approval of the TSX Venture Exchange, the Transaction with Temas is officially approved and becomes binding on the parties effective immediately (as of July 26, 2021).  Pursuant to the terms of the Agreement, the Company has provided ...more  
Comment by RJM on Dec 08, 2022 12:43am
Hopefully we recieve a buyout before the production stage as the estimated expenditure for mining capital is US$ 39.4 million per PEA for Piskanja. An included dilution provision will state that all cost overruns beyond the €10.5M obligation by Temas are to be equally shared by Temas and Erin. In the event that one party chooses not to fulfill its funding obligation, that party's interest in ...more  
Comment by EasyEnough on Dec 08, 2022 5:01am
Yes you are right. Thanks RJM for clearing that up. So 50% it is.
Comment by Cancap22 on Dec 08, 2022 9:38am
There seem to be a couple of extremely important phrases tha could limit the percentage. ".....will only be incurred under and pursuant to programs prepared by the Operator and approved by the technical committee set out in the Agreement" This is controlled by Balkan Gold. "....the Company has provided Temas with the irrevocable right and option to EARN up to a 50%. ...more