Thursday, March 22, 2018 4:17:58 PM
DNI owns the property 100% with historical drilling and a full PE mining permit outright. Dan Weir was already with track record of selling wholesale graphite and working on off take agreements to help move the DNI graphite. DNI gave Cougar an option to earn in 50% of all that.
DNI METALS INC. (DNI : CSE)(DMNKF : OTC)
FOR RELEASE – December 1, 2017
In order to maintain the Working Right and Earn-In in good standing Cougar was required to, in addition to payments referred to above:
i. Design, fund, manage and present to DNI a NI 43-101 compliant mineral resource report covering a per-selected area of the project measuring approximately 300m x 900m by June 30, 2017 Randal, one of your super drillers was supposed to do all this?
ii. Complete a NI 43-101 compliant PEA using the parameters of 10,000 TPA graphite production from the Property by October 31, 2017;
iii. The mineral resource report and the PEA shall include a minimum of 3,000m of drilling to a maximum of 50m and 1,000m of surface trenching; and
iv. The Program shall be conducted in such a way as to not unreasonably hinder future development of the Property and shall be based on sound mining practice and other applicable industry standards and practices and in material compliance with the terms of all applicable permits and laws. Randal Drilling with the RC drill qualifys as hindering future development as I see it.
Randal, You agreed to Design fund and manage the project, including 3000M drilling and NI43-101 Resource by June30. Since DNI brought the project, it was entirely your responsibility to manage and pay for the project.
See Below PR
https://webfiles.thecse.com/2017-03-27_-_PR_-DA_Cougar_Revised.pdf
Exert 9. The Saprolitic advantage of DNI’s graphite project, will simplify drilling for Cougar’s experienced team. Cougar completed a drill program of a Saprolitic graphite deposit in Brazil, in 2015/2016. Randal, this comes from a press release that you approved. It speaks of Cougars team and nothing about your one experiecced super driller that can run the whole show and 2 drills at the same time. Its obvious, you needed a team to fulfill your obligations
You originally agreed to a time frame of just over 3 months for 3000 meters and a resource report by June 30 2017. Your one driller only managed 1700 meters, barely half the drilling you agreed to. After extensions to 7 Months time, your one super driller only drilled 1700m and produced on NI43101 report as promised? This blows my mind that you would stand by your words that your one driller should have gotten all this done and because he didn't somehow its all DNIs fault.
Checkmate28
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