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This may help ito your question ref responsibilities Highside…but good point. From the RNS.
The First Option is for an initial exercise period of three years from the date of the Option Agreement (extendable by 90 days in certain circumstances) and may be exercised by Denarius conditional upon, inter alia:
o it assuming operatorship and making expenditures on the Toral Project of US$4,000,000; and
o completion of a preliminary economic assessment ("43-101 PEA") compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on the Toral Project.
o Expenditures to include the completion and submission of a mining licence application in respect of Toral to the local Junta by 31 July 2023.
· The proposed transaction is conditional, inter alia, on the approval of Europa Metals' shareholders and once obtained an initial US$100,000 advance will flow to EMI on the business day following such approval followed by a second aggregate sum of US$550,000 made in periodic payments at the discretion of Denarius.
· The Second Option may be exercised by Denarius within a period of one year from the date of closing of the First Option conditional upon:
o exercise of the First Option;
o completion of a NI 43-101 compliant pre-feasibility study (the "PFS") on the Toral Project at its own cost; and
o payment of US$2,000,000 cash to Europa Metals.
Sheds…it’s a very flimsy line when it comes to critiquing referees performances in any sport…Seems like if you are coach or manager of the team critiquing either positively or negatively creates problems but if you a journalist or media reporter not as much of an issue as you paid to do just that. Rassie is his own man and he is prepared to face the consequences for whatever he says but certainly he has made a difference since he has been there and I would hate to see him go. Anyways we are going to get smacked for posting non EUZ stuff here so let’s see what happens Saturday. Gl.
Yep…it was yesterdays close Sheds so today should see it rise more. Should be a good game but my chrystal ball is missing at the moment….can’t even pick my nose at the moment after Saudi beat Argentina yesterday !! So SA not a confident pick for Saturday. Let’s see :-)
Awesome news guys…. Denarius SP is also up 14.55% I see.
Let’s hope they get the PFS done quite quickly as I see a deadline in the RNS has been set to have the mining license application in to the Junta by mid 2023.
All looking good imo. GL to all of you.
Denarius own a lot more Cu in Spain than Euz do if I read this correctly. I think they should get 80% of Toral rather easily Highside….but enough posting Denarius on an EUZ board.
Cheers and good luck.
https://www.denariusmetals.com/News/news/news-details/2022/Denarius-Files-National-Instrument-43-101-Technical-Report-for-Its-Polymetallic-Lomero-Poyatos-Project-in-Southern-Spain/default.aspx
TORONTO, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Denarius Metals Corp. (“Denarius Metals” or “the Company”) (TSXV: DSLV; OTCQB: DNRSF) announced today that it has received approval from the TSX Venture Exchange (“TSXV”) to consolidate its issued and outstanding common shares on a ten-for-one basis (10:1) (the “Consolidation”). The Company’s common shares will commence trading on a post-consolidated basis on the TSXV and OTCQB at market open on Monday, November 21, 2022. The Company’s name and trading symbols will remain unchanged. Following the Consolidation, the new ISIN and CUSIP numbers for the Company’s common shares are CA2482332079 and 248233207, respectively. For the Company’s listed common share purchase warrants, the ISIN and CUSIP numbers will remain unchanged and are CA2482331162 and 248233116, respectively.
Just can’t believe my luck !!!
I would also like to thank Pieter for his significant contribution to the Group as CFO over the last 4 years and look forward to continue working with him as part of the Kibo group in his new capacity as CEO of MED."
Thanks for confirming he is CFO ….Cunning and you Don’t know more than Bloomberg ! Dork
So you so cunning you know more than Bloomberg then…..I honestly doubt it.
https://www.bloomberg.com/profile/person/18897306?leadSource=uverify%20wall
@Chrisp. Thanks for the response. I’m glad you think it’s a formality and I think you are very I’ll informed and need to do some research as I believe you are in the last chance saloon at the moment. Anyways Fwiw I am not buying EUZ and will be buying Denerius. Goodbye.
Chrisp…the Denerius deal is all about saving EMI Spain…..and they have less than a year left to get their exploitation license and in effect will not impact EUZ shareholders at all positively imho. The JV is with EUZ but the real beneficiaries are Denerius shareholders and EMI Spain.
I suspect it will be a newco IF Denerius DD is successful and yes EUZ will own 20% of it in the end but EUZ will have 4 new projects and Newco will own EMI. If the Denerius deal falls through I suspect EUZ will lose the exploration license for Toral. So how does all this effect EUZ shareholders positively ?
Yep. I see your point Chrisp. But having been fed bull****e about anti dilutionary strategies etc etc which never happened. I guess you quite happy to pay for the below on top of a 80% loss of ownership potentially ?
In addition, we have continued to persue our stated business development strategy and identify promising complimentary opportunities for portfolio expansion. As at the end of the reporting period, the management team had reviewed over 18 projects, with four being discussed and evaluated at Board level, and we intend to continue such activity and to identify, investigate and assess additional opportunities of potential interest. Further updates will be provided as and when appropriate.
So this may be the fall back plan then if the Denerius deal falls through. At least they will be able to pay WA for the PFS in script….yes…still a way to go Highside and still uncertainty as you say.
Good luck though to all of you and wish you the very best.
Thanks for this information. Does this not jeopardize Kibos chances of staying in business ?My understanding is that for the last 8 years they have had zero revenues. The only option they would have then is to cut costs to stay in business or alternatively privatize hazarding a guess of course. Let’s see how this pans out but nice to know . Thank you.