- Erin Ventures (EV) has entered into a letter of intent with Temas Resources for the joint development of Erin’s Piskanja Borate project in Serbia
- The Piskanja Borate Project is located in a historical mining region 250 km south of Belgrade
- Temas Resources has been granted an exclusive, irrevocable option to earn up to a 50 per cent equity interest in a subsidiary of Erin Ventures
- Temas has until February 20, 2021 to complete the due diligence
- Erin Ventures closed in the grey for C$0.075 per share
Erin Ventures (EV) has signed a letter of intent with Temas Resources for the joint development of Erin’s Piskanja Borate project in Serbia.
Erin Ventures is a Canadian-based international mineral exploration and development company. The Piskanja Borate Project is located in a historical mining region 250 kilometres south of Belgrade.
Temas Resources has been granted an exclusive, irrevocable option to earn up to a 50 per cent equity interest in Balkan Gold, Erin’s wholly owned subsidiary, and holder of the license to the Piskanja Boron Project.
Erin Ventures CEO Tim Daniels said Temas is a good fit for the project.
“Not only are they willing to match their funding commitments for Piskanja with the anticipated equity requirements for project development right throught to production, but in addition, they have an experienced management team with like-minded thinking towards the development of Piskanja.”
Temas is also a Canadian mineral exploration company. According to the press release, the company has until February 20, 2021 to complete the due diligence, with the final binding option agreement to be signed no later than April 15, 2021.
Temas Resources CEO Michael Dehn said working on a project with a commodity that’s in high demand should add significant shareholder value.
“Having access to premier projects that could produce products that end up in consumer and industrial products should allow Temas to evolve form an explorer to producer.”
Under the terms of the option, Temas must expend a total of €10.5 million within a 36-month period towards the development of the Piskanja Project.
Erin Ventures closed in the grey for C$0.075 per share.
