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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 > What is the hold-up?
View:
Post by Myrty1 on Feb 11, 2024 8:15am

What is the hold-up?

So honestly and sincerely, what do we think the hold up is here?  Another poster recently brought up the criteria. I really would like to know Tim.

I guess it could be a few things, but maybe the "technical review" of the Feasibility Study outlined in point number 3??  That's never really been brought up before. Is that perhaps just an internal review by the licenced institution?  Or perhaps the Mining Ministry once received?  Tim had said there isn't much of a process there though.  Not sure if I can go along with Tim on that one, but maybe?
The map, that should be an easy check mark.  Certificate, check. Local planning?  Could be waiting on paperwork, but it seems it's more just showing you fit into the preset zoning.  If a coal mine was there, we are just plopping down onto of that for the most part.  Environmental, just stating was the governing body wants.  Cultural and Heritage?  Should have been worked on ahead of time.  That seems like a no-brainer unless someone wants to use it to slow us down.  Water management?  Seems like it could be an issue, but surely it would have been dealt with already. 


I get that there are going to be loose ends to tie up before submitting, but this is silly.  Management must have thought this is easier money to raise at a cheaper price level.  Why wouldn't they have done this quickly around Elaboate/Certificate news?  Just say, at this point, it seems more prudent to go alone until further development. 

??

 

The second step is the exploitation field approval. The exploitation field is an area surrounding the deposit which encloses the planned infrastructure at the surface and the extents of the mining operations underground. To obtain the exploitation field approval, Erin must submit the following:

  • A 1:2500 scale map outlining the deposit, infrastructure and communications, cadastral data, etc.;
  • Certificate on resources and reserves from the beginning;
  • Feasibility study for the Project with a detailed economic assessment of the Project which needs to be prepared by a licenced institution and subjected to technical review;
  • Proof of compliance with urban planning and compliance with municipality spatial plan;
  • Scope of work for an Environmental Impact Assessment study issued by the Ministry of Environment;
  • Proof of compliance with cultural heritage legislation; and
  • Proof of compliance with water management conditions.
Comment by ListenandLearn on Feb 11, 2024 12:52pm
It will be 1 month this week that the CoR was received. All Part 2 documents should have been ready that day. This useless waste of time falls on Tim's shoulder. Can't seem to be able to make a schedule and follow it. Hopefully he gets it done this week.
Comment by blueboron99 on Feb 11, 2024 1:09pm
Myrty1, So honestly and sincerely, what do we think the hold up is here? IMO, it surely isn't any component of Part 2 that was completed. I do know the FS was prepared by an independant and highly reputable Engineering Group located in Serbia. This Group would have to be a registered member of EurGeol which is a Mining Engineer & Geologist Professional Association for Europe. Our ...more  
Comment by Calabrese on Feb 11, 2024 2:20pm
bb99, Are we to assume that the submission fees for part 2 is one million dollars?
Comment by blueboron99 on Feb 11, 2024 3:47pm
L&L, If BONE does it alone without Osmose, Parts 2&3 will cost close to $1M for BONE. I seem to recall several shareholders on this bb wanted BONE to do it alone, if that was the case. To date Osmose hasn't met any conditions of the LOI & TD has stated we will keep moving the process forward to the finishline without them. There is no length of term condition in the LOI document, ...more  
Comment by ListenandLearn on Feb 11, 2024 4:18pm
BB, BONE doesn't need much cash right now.  Part 2 costs should mostly all be already paid by now. Any cost related to Part 3 can wait - Mostly mine design-related costs. BONE has got 2 years to complete Part 3. Let's see what the SP is once the Exploitation License is granted and go from there. The reality is: 1 - Juniors rarely get to the production stage. 2 - Tim hasn't found ...more  
Comment by ListenandLearn on Feb 12, 2024 9:20am
BB, Why would BONE spend $ on Part 3 if the goal is a buyout ? They most probably could get the Part 3 documentation done in less than 1 year. They have 2 years once they get through Part 2. More than enough time (around 1 year) to negotiate a buyout, Tim has been saying that the greatest risk for the project is financing risks. I think TD is the greatest project risk. WTH has he been doing ...more  
Comment by blueboron99 on Feb 13, 2024 12:52pm
L&L,   My comment to your statement - "Why would BONE spend $ on Part 3 if the goal is a buyout" ? At one time I was under the impression Piskanja would only be a buyout, but now I no longer believe there is only one Option. If I be the devils advocate-  IMO, there are multiple Options to choose from, so don't get hungup only with a single Major buyout option. This ...more  
Comment by ListenandLearn on Feb 13, 2024 1:36pm
Thank you for your comments BB. Fair enough, I certainly don't mind us not having the same view on the path-forward. This is what this board is for isn't not ? You mention that there are a lot of irons in the fire now: (1) a committed Financial Partner, (2) Part 2 in progress outcome, (3) the Piskanja mining license issuance, (4) Pobrdje contract signoff, (5) the Jarandol basin News ...more  
Comment by Mississippi7510 on Feb 15, 2024 1:40pm
WOKISM!!!!
Comment by Myrty1 on Feb 12, 2024 4:14pm
Thanks for your thoughts on the matter BB.  I'm not sure if you mean a million for step 2 and 3 combined or a million each, but I think a million for step 3 alone would be plenty cheap enough for us to keep plugging along solo. I remember Tim saying a long time ago that Step 2 would be about $150,000 Canadian, and Step 3 was $3.5 M CAD. I don't think he really knew at that early ...more  
Comment by ListenandLearn on Feb 12, 2024 4:36pm
Myrty, see the PEA for a cost estimate for Part 3 (Page 173).  Around $2M....but the costs during the but PFS costs seem way off - Metallurgical cost of $2.5M?!
Comment by Myrty1 on Feb 12, 2024 4:58pm
So 2 million.  That is nothing if we get through our Step 2 package approved and Mining Licence given. I will sell my house if they need a hunk of money at that point. If we get a mining licence to generate a hundred million Canadian dollars per year, how does the share price not spike to at least a dollar.  We would have at least $100M market cap, wouldn't we?!  I feel like I ...more  
Comment by DoYourOwnDiggin on Feb 12, 2024 8:44pm
NFS Always news... positive discussion... extremely long pause for no good reason... repeat 
Comment by blueboron99 on Feb 12, 2024 9:29pm
Myrty 1, My reply to your question was this "Parts 2&3 will cost close to $1M for BONE". I can't make it any clearer than what this statement indicates. When we submit Part 2 and Part 3 the admin fees paid to the Ministry will amount to close to $1M. This does not take into account the costs to complete Part 2&3 as that is separate operational costs. Hope that clarifies ...more  
Comment by Myrty1 on Feb 12, 2024 9:44pm
Admin fees?!  Yikes. That's a lot. Well, hopefully we can raise a few hundred grand real quick. Thanks mister. 
Comment by ListenandLearn on Feb 13, 2024 6:50am
BB, As per Item 16, Table 26-1 of the PEA, permitting costs are $500K. The PEA doesn't even mention admin fees.- they can't be significant.... From the MIning Law, all permitting fees are related to the actual mine construction. Apart from the Part 2 and 3 admin fees, there are no other type of fees to be paid to the republic of Serbia that I could identify.  Really curious where ...more  
Comment by ListenandLearn on Feb 11, 2024 4:23pm
Part 2 submission fees are ADMINISTRATIVE fees not permitting fees - nowhere close to $1M. This is Serbia where the average salary is like $30K......
Comment by Flames7 on Feb 11, 2024 10:33pm
I think Mr T needs to make a comment and a statement in black and white  why  on this fiasco on money needed .  
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