Also in the below article…. For minerals under sections C and D:
Exploration permits have a maximum duration of one year, which can be extended for an additional year.
Investigation permits have a maximum duration of three years, which can be extended for up to another three years, and in special cases for subsequent terms, if a previous assessment of the characteristics of the petitioner, the mining works (expected and already carried out) and the site has been carried out.
Exploitation concessions for minerals under sections C and D have a maximum duration of 30 years, which can be extended for equal periods up to 90 years.
Yes we used him as a contractor. Possibly may well be something lost in translation…but thought long and hard about it honestly Sheds and even researched the pre req for a mining license ….and got the below pre reqs….However I need to stipulate if you believe which I am sure you do that EUZ will meet them…then you have made a better decision than I have as I believe they have run out of time and will not be in a position to meet them. Hence my decision.
Good luck mate and I wish you the very best.
The following are necessary before obtaining an exploitation concession:
* Application. For exploitation concessions derived from research permits, the application includes:?
* the designation of the land in question, which, in all cases, must be included in the land granted for the investigation permit;??
* a detailed report of the geological nature of the deposit, investigations carried out and results obtained; and ??
* a feasibility study and a project for the use of the resources, including a report on the exploitation system, an outline of the infrastructure, a work programme, a budget for investments to be made and an economic study of its profitability, and sources of financing, with the guarantees offered on its viability. ??Source : https://uk.practicallaw.thomsonreuters.com/w-010-6661?transitionType=Default&contextData=(sc.Default)
And my guess further was this is why they were looking at other projects….knowing that they could not complete the requirements for a mining license to be granted timeously…..hence LR resigning as well……it’s like trying to put a puzzle together of why things happened when.
Thanks guys for the good wishes and I wish you all well as well….Sheds…I agree from an operational level with a lot you are saying but for me the last risk I took into account was the swaying factor for me….and it’s about the supposed value event for shareholders….it did not happen….for whatever reason…I hazarded a guess that it’s to do with the exceptional exploration license…..it expires next year…with an expiry clause no doubt that if a mining license has not been granted by the time the exploration expires it will be forfeited back to the state…I don’t think this will fly with many suitors…and maybe…just maybe why no further mention was made as the deal fell through….For me personally .I don’t even think a BFS will be completed by then….anyways this is my take only and my thoughts…as I have not seen the conditions under which our exploration license was granted. When we bought it …it had an expiry date and we managed to renew it….hence exceptional….big challenges lie ahead for EUZ imo. Best of luck though and hang in there !!!!
Guys and lasses….it’s been a very tough few years here and to my detriment bought in way too early. I decided a few months ago to take the knock on the chin and sell up over a period of time so as not to appear like I dumped ….anyways that said I have now completed selling all my shares in EUZ and wish you all well and all the best. It was not what I would call a pleasant journey and in hindsight should have left when Oiltap got out. Anyways as the saying goes…it is what it is. The major reason being my decision is that I feel EUZ are running out of time and money….more dilution to come I would say and at these current prices at great cost to share holders. I may consider buying back in once it gets to 1p….GLA and cheers.
Well for one I mostly agree with him….based purely on the following.Kibo are late with their annual report for 2021 and more than likely will show zero revenue for the 3rd year in a row and a loss per share I would imagine…..I think they are most likely trying to put some lipstick on this pig before sharing publicly.
I think the balance sheet for KIBO speak volumes. The last financial update was in Sept 2021 and was as at June 2021. KIBO had very little revenue streams and is effectively still in “exploration” phase. The benchmark investors look for when investing in an exploration company is that typically the exploration costs should be greater than the administration expenses…which in effect means that the monies is being spent on doing the right things….However in KIBOs case this is not the case. Anyone know when the next set of financials are due or are they past due ?
What I find very strange is they are working under an “exceptional extension” and LR is on record saying they want to further prove up the resource before applying for a mining license….when time quite frankly in proving it up is being wasted…..In addition when lodging the application for an exploitation license we will need development guarantees…still plenty of risk here ito timings….which we have very precious left I’m afraid. Worst case scenario is not lodging for exploitation license by my reckonings June next year or heaven forbid we will forfeit Toral back to Spanish Government I suspect.
Here you go Sheds….from my archives :-)
EXCEPTIONAL EXTENSION OF THE TORAL RESEARCH PERMIT
Europa Metals is pleased to announce that it has received an Exceptional Extension for three years for the Toral Research Permit, of which it is the holder.
During this new period, valid until November 15, 2023, Europa Metals will prioritize all the work necessary to finalize the design of a sustainable mining project with development guarantees for the Toral project and present the documents that accompany the Concession application. of Exploitation, in the shortest possible time
Europa Metals expects to be able to announce soon the update of the conceptual study of the Project, carried out independently by the Bara Consunlting company for Europa Metals and based on the data collected in the last months of work, especially in the areas of metallurgy, resource estimation and geotechnics. The conceptual study provides the most relevant economic data of the mining project, as well as the key elements to develop to increase the certainty in the project and produce a Pre-Feasibility Study (PFS).
The Europa Metals operations team is finalizing the program of re-estimation of the resource and metallurgical surveys, with which, in addition, the parallel research and development project will be launched to correct the drift of the wells and supported by the CDTI, with an initial aid of € 163,380 and which was announced on October 19. In addition, progress is being made in the hydrogeological and geotechnical fields, as well as in the environmental and waste management aspects. In response to the progress of the COVID-19 pandemic, Europa Metals will continue to put the safety and health of its workers and contractors above all other considerations, incorporating the protocols and recommendations indicated by the health authority to prevent infections in the environment of the company and project.For this reason it is possible that changes in the work plans will be produced, which will be communicated for the public knowledge.
Jesús Montero - COO