Ann: RFR Completes Acquisition of San Finx Tin Tungsten Mine, page-18

Unfortunately the San Finx mine may have a bit of a checkered environmental past
San Finx tailing dam, "Galicia’s Toxic Past Threatens Its Present and Future", Earthworks an environmental campaigning website

And there may be some organised local opposition
Film on San Finx "Yes to Life No to Mining"

The ann states

• "Rafaella intends to continue with the good environmental work undertaken by Valoriza. A review of the current process flow sheet will be prioritised as well as investigating ways to further minimise the environmental footprint."
• "Valoriza to provide ongoing environmental support. This is important as Valoriza has invested heavily in the environmental study work, especially concerning the water treatment."

It would be good to understand what environmental liability the company now have against the existing mine and tailing dam. Ann states:

• "Acquisition of Tungsten San Finx S.L. includes the concessions, rehabilitation bond, infrastructure (including water management system) and the plant and equipment."
• "The water discharge permit is required to access the lower levels. Valoriza has completed an extensive study for the treatment of the water in support of the water discharge permit. The technical merits of the proposed treatment plant have been agreed and the permit is currently undergoing public consultation."

I think obtaining the social license to operate maybe one of the biggest risks to this being a viable mine for us.

Sorry to put a dampener on this otherwise positive ann.

J