[IMG] Regarding the exploration licence: - They submitted the...

Regarding the exploration licence:

- They submitted the renewal 30days prior to the permit expiry (25/08/18)
- Under Serbian Law, the ministry may take 30days to approve permit extensions, but may take an additional 30days to grant an extension
- This would make the granting of the extension due prior to the 25/09/18

I expect the share price will take a short term hit today on the unexpected wait, but we are still likely to get the following news which will provide catalysts for a re-rate:

- Granting of the extension of Stara Planina lease (due prior to the 25/09/18)
- Announcement of re-commencement of drilling Stara Planina (due 25/09/18)
- Lab results due from first 5 x holes (due 3-4 weeks)
- Results from RIO JV field sampling and mapping program (Majdanpek) commenced 06/08
- Results from RIO JV field sampling and mapping program (Donje Nevlje) commenced 03/09

With +$3m cash in the bank and such a low MC + EV, Im happy to hold at these levels

GLTAH + DYOR!!