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17:34
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Originally posted by moonlight
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3.1.4 BOSNIAN MINING CONCESSIONS Following the nation’s recovery from the conflict of the 1990s, the laws and regulations on mining in Bosnia and Herzegovina are still developing and as a result some areas of the law on mining are unclear. Exploration Concessions are granted by means of a concession agreement between the relevant level of government and the concession holder. The Exploration Concession held by Eastern Mining is located in the Zenica-Doboj Canton and is granted and regulated by an agreement between Eastern Mining and the Government of Zenica-Doboj Canton. The Exploration Concession is also subject to other legislation set out in the Legal Opinion on Title in section 6. The 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. Eastern Mining has provided a bill of exchange for an amount of BAM300,000 (AUD241,240) to the Government of Zenica-Doboj Canton as security for the quarterly concession fee payable once
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Seems like 3.1.4 from the prospectus (see replied post above) requires 'exploitation' before May 2020, otherwise the Government can terminate the concession.
(20min delay)
