I have been researching the tenement deal between Dakota (now NLI) and Lusorecursos LDA in which NLI can acquire the remaining exploration tenements in Portugal. Trying to work out if there is any issue / non performance etc around this deal ?? Can't find anything on the net except the original info from 2016 in the link copied below. Does anyone have any info about the remaining exploration licence grants or any info about Lusorecursos LDA ?
http://investorinsight.canningspurple.com.au/home/ta1ncx5yvk9r13a2zzgzos3snizz74
"Dakota has focused on these areas, and now holds a dominant exploration tenement position in all three, by virtue of its agreement with Lusorecursos LDA., a Portuguese exploration junior. The exploration tenements are a mixture of granted leases and new applications. Dakota is commencing mapping, surface sampling and auger drilling work on the highest priority leases, to quickly identify drill targets.
Acquisition Terms
The acquisition terms for the tenements are as follows:
- 10,000 Euro upfront option cash payment to Lusorecursos LDA.
- 10,000 Euro cash payment and 63,000 Euro six-month consulting contract on successful grant of experimental exploration rights for tenements MNPPP0274, 275 and 276.
- 250,000 Euro milestone payment on definition, within the tenements, of a 5 million tonne NI43-101/JORC lithium resource at 1.2 % LiO, and 750,000 Euro milestone payment on definition within the tenements of a 15 million tonne NI43-101/JORC lithium resource at 1.2% LiO (or greater)."
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I have been researching the tenement deal between Dakota (now...
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