EPM eclipse metals limited.

10 Cent Party, page-2144

  1. 8,685 Posts.
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    Wake up yourself, Poke, and think about it.

    EPM will first have to spend heaps on achieving each of the milestones mentioned in the announcement to ASX of 14th January 2021.

    The Company will also make the followingpayments to Cerium on satisfaction of certain milestones
    (Milestone Payments):

    (i) $1,000,000 - Within 10 business days of theannouncement of a JORC compliant inferred
    resource within the Tenement in respect of anymineral.

    (ii) $3,000,000 - Within 10 business days ofthe announcement of completion of the first scoping
    study in respect of the Tenement.

    (iii) $7,000,000 - Within 10 business days ofthe announcement of completing the first pre-feasibility
    study in respect of the Tenement.

    (iv) $9,000,000 - Within 10 business days ofthe announcement of the last to occur of completion of
    the first definitive feasibility study inrespect of the Tenement and the grant of a mining licence
    from Greenland Government over the area thesubject of that study.


    I wonder how much will it cost EPM to get a JORC, a first scoping study, a first pre-feasibility study, and a mining licence.

    No sooner will EPM have paid to achieve these milestones then it will be penalised by having to pay millions of dollars to Cerium.

    You say you expect funding for these payments to be a walk in the park. Yeh. A walk inside the fence of a lion park.

    Finally, you ask "why can't you guys just drop thepersonal and read the news and stay in sync with me yeh."

    I wonder why.


 
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Mkt cap ! $59.98M
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