Ann: Stage 9 Drilling Delivers High Grade PGM Zones Near Surface, page-34

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konameh

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29/05/22

13:19

Post #: 61686564
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Originally posted by Fynder: ↑

EV Metals seem to be releasing news about their ventures on a regular basis but the finalisation of tenement alignment and ownership with POD continues to drag on.

The lack of news gives rise to think something is going on in the background which may involve difficulties in negotiations between the two.

Pure speculation of course but no news isn’t always good news. Particularly when it drags on.

last news was as below to the best of my knowledge

Rationalisation of Mining Rights

The Company’s Western Australian tenements are subject to a Mining Rights Deed with EV Metals Australia Pty Ltd (EV Metals), a wholly owned subsidiary of EV Metals Group plc (EVM).Under the Mining Rights Deed:• Podium owns 100% of the sulphide mining rights; and• EV Metals owns 100% of the oxide mining rights, excluding PGM’s and associated base metals.The oxide mining rights is the mineral rights to all oxide minerals which are summarised as minerals in the oxide zone (from surface to the greater of 50m or the base of oxidation) and all minerals in an oxide form. EV Metals’ main projects are for the development of the large nickel and chromium laterite resources which lie in the northern portion of Podium’s mining leases.

Podium retains rights to all sulphide minerals and all platinum group metals plus all gold, silver and base metals contained in or associated with platinum group metals (which are specifically excluded from the Oxide Mining Rights). For clarity, the Sulphide Mining Rights, owned by Podium, encompasses 100% of the Parks Reef Mineral Resources which lies in the southern portion of the mining leases.On 18 December 2020 Podium announced that it had entered into an agreement with EV Metals to align the tenement ownership with the ownership of the mineral rights of each of the parties (Agreement). On 30 September 2021, the Company announced that it agreed to an extension of the Agreement to 31 December to enable the completion of outstanding conditions precedent.

On 4 January 2022, the Company announced to the market that the extended completion date of 31 December 2021 had expired. As at the date of this half year report, the Agreement has not been terminated by either party and remains on foot. The Company is continuing to work with EV Metals to discuss an extension to the Agreement.

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Correct me if I am wrong. I thought that deal will leave POD's share holders with less long term value. There is a chance that the parallel reef exists in the north portion. Most of the value in that tenement lies in the PGMs, gold, copper sulphides, nickel sulphides, of which POD currently owns 100% under the current agreement. The oxide minerals are insignificant. I would vote out on that deal, if I can. I wouldn't hand out a possible parallel reef for a few million $. It is a very dumb deal.

POD Price at posting: 38.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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