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Implanting

10/15/21 5:57 PM

#16251 RE: uhlmant #16250

I can't speak to the specifics of the permitting, but that's the case Dan has been making. That there have been other projects similar to what's being proposed at Springpole that have been approved. I'm sure that there have been like projects that were rejected for various reasons also.

Dan claims we have the Team in place to get the permitting done. He said so much on the webinar. Steve Lines is supposed to be very good at what he does according to Dan. The question I would ask is it the team you have or the people your dealing with? Because You've done it once does that mean you can do it again? That's above my pay grade to know.

Tribal buy in, which I assume means giving them about anything they want, is probably the biggest hurdle with environmental being second. Dan kept saying they have to "partner" with the indigenous people there to make it work well. There will most likely be payments made to the natives there even well after the mine is moth-balled, so I would assume this to be a windfall for them after the terms of a deal are made. The permitters know this is a one-time shot, so they need to milk it for all it's worth. Why else would it take 4 or 5 years to obtain permitting? LOL

I would guess there's also a lot of back room deals being done and palm's being greased to get the permitting through to completion. No telling how much negotiation and money will have to be spent to obtain the permitting.

All of these processes IMO have to go well for them to get approved, but I hope they can pull it off. Are there other unseen forces that don't want us to get this permitting? Who knows, maybe.

SeaBlue

10/15/21 6:39 PM

#16252 RE: uhlmant #16250

Dan has been pretty clear in saying over and over again it is an 18-24 month standard wait for everyone. As far as what else has to be done behind the scenes, I am sure the necessary activity will occur. As far as being bought out it would be a shame, but honestly if a proven major or mid-tier developer came in with a decent offer I am sure many would take it even though those selling might not realize the profits they would if FF takes it the distance. Some of the earn-in deals have not helped much. I am glad we got the Treasury shares and I hear what Dan is saying regarding the future value of royalties, but the question is can we last that long and not get hamstrung by a lack of funds and/or continued dilution. If we did get an offer that is mediocre, I would hope First Majestic would submit their own offer because some of their people know what FF is really worth.