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clock Created with Sketch. 24/07/18
08:13
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Originally posted by Maverick7
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Interesting that hardly anyone is discussing the biggest risk to the project: that the concession can be terminated if the deadline below is not met. No Concession = No Project.Following the nation’s recovery from the conflict of the 1990s, the laws and regulations on mining inThe Exploration Concession agreement requires Eastern Mining to commence the exploitation of ore before 25 May 2020. In the event that Eastern Mining fails to begin exploitation before 25 May 2020 the Government of Zenica-Doboj Canton can terminate the Exploration Concession. In the event the Company wishes to commence exploitation operations it must obtain the consent of all owners of the land subject to the Exploration Concession agreement through a land expropriation process involving the Government of Zenica-Doboj Canton. This process can be lengthy and costly.
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The issue has been discussed. Correct that it is an important issue. ADT should be seeking extension of the Exploration Concession. I hope this is what management are currently attempting. The appointment of Mr Milos Bosnjakovic to the Board is surely a sign of steps toward this process.
(20min delay)
