I hear the arguments above about sovereign risk, dilution, loss of focus on Yandal etc, corporate changes etc.
Geologically many interesting points which will ultimately have to deal with the above issues but hopefully not too many more.
Serbia and Tethyan zone a poorly known zone for most Aussie Geos - Not all but IMO it is.
One geo I do listen to is JH. Geology for sure from him though not certain any geo should be trusted with one's hard earned when it comes to investment decisions. Still IMO better than some others.
Over the years I have had a passing interest in the area. Began with a Canadian company reporting great intersections at Timok in the Bor district. Never heard of Bor before' but it was, and still is,
one of the real Tier 1 mines in the world. Bor is in a different belt to Rognoza.
Geologically think Yandal belt expanded with many near Tier1/2 deposits extending into Turkey or in a WA example well south of Esperance! >1000 Kms.
Vares = ADT a nice high grade deposit some 200 Km NW in the same general belt. DYOR on the Raska project of ADT.
ADT has successfully got a mine up and running in Bosnia. Serbia?
Some local colour from Google Earth on the Rognoza project.
Nova Pazar a city some 15 Kms from Rognoza. The white line is the NW margin of the leases.
Large mining license area - complex internal boundaries I do not understand but assume no gaps.
Suspect the area to the SE contains similar geology and potential prospects. Ditto Yandal but there is already more than STK can readily handle IMO with the central license from Gradina to Medenovac. [Ouch for place names in English!].
Zooming in on Medenovac
Lots of history in the area with geophysics, soils, drilling etc.
Topographically not like Yandal but reasonable, if rugged country, access which will depend on local environmental requirements
Depth of deposits did seem that a high pre strip ratio might be required.
Geologically complex with skarn deposits, structurally controlled. Suspect exploration will yield extensions of known prospects and perhaps new ones especially in the SE.
Too much already. FYI and DYOR
(20min delay)