Erin Ventures Inc. announces that it is actively engaged in the due diligence process with several potential strategic partners regarding the development of its Piskanja boron project in Serbia. Erin is in discussions with various potential partners that have the ability to provide needed capital, technical expertise (general mining and boron-specific), boron-specific marketing expertise, boron-specific value-added expertise (e.g. boric acid production and sales experience), as well as substantial end-users of boron and boron derivatives who are looking to secure long term purchase arrangements. In conjunction with the drilling program currently underway, a series of due diligence site visits to the Piskanja property have been recently conducted by these potential strategic partners.
“The global boron market is very large in terms of the dollar value of annual sales, geographical locations of producers and consumers, and the number of industrial applications for boron. However, it is relatively small in terms of the number of participants, especially on the production side” said Tim Daniels, President of Erin Ventures. “Because it is a tightly controlled market with a handful of producers, we believe that our best course of action to effectively penetrate the market and maximize returns is to secure multiple strategic partners who are well established in various facets of the boron industry. We have analyzed our needs, and have sourced potential partners that have the ability to make us a strong competitor in this industry.”
Erin is continuing discussions with these potential partners, and hopes to formalize some of these relationships once their due diligence processes have been completed over the coming months. Erin is currently considering the first two proposals from potential partners. One for project-specific financing, and one for a long-term purchase contract. A third potential partner has requested a bulk sample for analysis.
Source balkans.com
