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Re: buffalo2222 post# 84033

Friday, 10/28/2011 1:17:43 PM

Friday, October 28, 2011 1:17:43 PM

Post# of 155603
Nice info Buffalo. We can Explore looks like.

I guess that clears it up.

If the PR's were worded correctly ("right to explore") MMTE has:

- Right for up to 2 years on the concessions to explore, not exploit. Exploration term can be renewed for another 2 years after.

My guess is it is only an exploration permit due to the current Lithium laws.

Also says that it would take approx 18 months to be granted an exploitation license. Not sure if the 18 months would start once the mining laws change, or whether some of the months would be eliminated due to MMTE already having exploration rights to the property.

This may be partially why we are mired down in the mud at this point.

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