Ann: Adriatic Metals Corporate Presentation, page-169

I wouldn't mind a little more detail on what "active in preparations for expanding" involves.
I suggest you read the 22 page legal opinion made by Maric & Co as set out in the prospectus for the IPO.

http://www.adriaticmetals.com/wp-content/uploads/2018/03/20180308_Adriatic-Prospectus_screen.pdf

The answer to your question is not something that's explainable in a few words.

The laws governing the rights to mining and exploration concessions in Bosnia & Herzegovina are archaic and in urgent need of reform. Combine that with the notorious corruption in these ex-Yugoslavian republics and the answer to your question gets even harder to answer.

I think all we can do as shareholders is wait and hope the company can secure more ground before anyone else does.

They have got the company this far so are probably in the box seat as first movers into this area. As long as the company remains well funded I'd say it will have every chance of coming out the winners with new ground acquisitions. The shallowest part of the Rupice deposit is within the current concession. It's also likely that the bulk of the deposit will be in the concession as well. I'd be more concerned at this stage to read the legal report and satisfy myself that the current tenure is validly held. I'll personally be reviewing the legal document to make sure there are no skeletons in that closet. I doubt there are any but before I go harder at this I want to do my own research. Esh