EUR state that 11.? Million euro including purchase price was spent on the mine by previous owners......So it stands that 1.?Million was spent on care and maintenance, restoration, and stock piling the 500 cubic meters over 30 years.
The company that purchased the mine from the Austrian government back in 1991 paid 1 Austrian schilling for it. (au$1.47) This company sold it in 2011 for 10M euro to ECM and pre sale the only spend was "care and maintenance" and apparently restoration work was done at some stage. The next spend was by ECM to get the mining rights in perpetuity by mining the 500 cubic m that was only stockpiled.
Under the mining license there was a minimum of 4 months work to be done per year and they were granted a 2 year extension while they awaited the evaluation of the stockpile.
Was an evaluation ever done on stock pile? And then wasn't the last listed company delisted after they got the rights and the extension?
So the 2 year extension is up and they are now progressing things......
So what's it worth now? Based on how much lithium has gone up and what the Austrian gov. sold it for may be $14.70au ? Or $147.00au?
Seems like a plan to me.
(If I have got any thing wrong, I am sure someone will correct me)
