Boron One Holdings Inc. Signs Letter of Intent
Rhea-AI Summary
Boron One Holdings Inc. (TSXV:BONE) has announced that its subsidiary, Balkan Gold, has entered into a non-binding Letter of Intent (LOI) with Serbian state-owned mining company Resavica RKU. The LOI focuses on two key areas: improving the efficiency and extending the lifespan of Resavica's Pobrdje Colemanite Mine, and exploring the potential use of Resavica's regional mining assets for Boron One's Piskanja Project.
The agreement leverages synergies between the Piskanja and Pobrdje projects, which are located in the same geological basin. Balkan Gold holds boron exploration rights in the Piskanja and Jarandol Basin Project areas, while Resavica operates the Pobrdje Colemanite Mine and owns strategic infrastructure assets. This public-private cooperation model could serve as a template for future ventures in Serbia.
Positive
- Strategic cooperation with state-owned mining company could facilitate project development
- Access to existing infrastructure and mining assets could reduce development costs
- Potential operational synergies between Piskanja and Pobrdje projects
- Public-private partnership model could create advantages for future ventures
Negative
- LOI is non-binding and subject to further negotiation
- Final terms and economic benefits not yet defined
- Success depends on successful technical studies and parameter definition
LOI to study and define parameters for strategic cooperation:
for the refurbishment of the Pobrdje Colemanite Mine to improve its efficiency, as well as to extend its economic lifespan.
for the inclusion of key regional mining assets that may be repurposed for use in the development of Boron One's Piskanja Project.
VICTORIA, BC / ACCESS Newswire / May 5, 2025 / Boron One Holdings Inc. ("Boron One" or the "Company") [TSXV:BONE], a company dedicated to the decarbonization of Planet Earth through the responsible utilization of its boron assets, is pleased to report that its wholly owned subsidiary, Balkan Gold d.o.o. ("Balkan"), has entered into a Letter of Intent with Resavica RKU ("Resavica"), a Serbian publicly owned mining company. The non-binding Letter of Intent (the "LOI") outlines potential cooperation between the parties regarding the refurbishment of Resavica's Pobrdje Colemanite Mine, as well as the ongoing development at Boron One's Piskanja Boron Project.
Balkan holds the boron exploration rights to the Piskanja and Jarandol Basin Project areas and is actively advancing the project towards exploitation. Whereas in the same geological basin, Resavica owns and operates the Pobrdje Colemanite (boron) Mine, in addition to holding certain other mining related infrastructure assets that may be strategically beneficial to Balkan for its future mining activities, planned in this region.
Balkan and Resavica have agreed that certain synergies exist between the Piskanja and Pobrdje projects, indicating the mutual benefits of strategic cooperation. As a result, the parties have entered the LOI to study and define an optimized strategy regarding the improvement of the efficiency of the Pobrdje Mine, as well as the extension of its economic lifespan. Additionally, the LOI sets the framework for examining the possible repurposing of certain of Resavica's existing infrastructure and other strategic mining assets in the region for use in the development of the Piskanja Project. The parties are actively engaged in ongoing discussions and the exchange of technical information in order to define the social, economic and technical parameters required to complete a binding agreement.
"We are very pleased by this advancement," said Tim Daniels, President of Boron One. "The potential for cooperation with Resavica can add significant flexibility to the development strategies of our boron assets. Additionally, we are proud of a model of private sector-public sector cooperation that may well prove to be quite beneficial for the various stakeholders involved in the region, and could be used as a template for other cooperative ventures within the country."
Mr. Daniels provides a detailed explanation of the letter of intent, and how the company will navigate this advancement in an interview viewable here.
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About the Pobrdje Boron Mine
The Pobrdje Mine is wholly owned by Resavica RKU, located approximately 2.5 km from the Piskanja deposit within the Jarandol Basin in Southern Serbia, and has been an operating boron mine for more than a decade. The boron bearing minerals found at Pobrdje include primarily colemanite with minor howlite. The deposit remains unbounded to the South and East.
About the Piskanja Boron Project
The Piskanja Project is Boron One Holdings Inc.'s wholly owned boron deposit with a Measured Mineral Resource of 1.39 million tonnes (averaging
On behalf of the Board of Directors,
Tim Daniels
About Boron One Holdings Inc.
Boron One Holdings Inc. is a leading company dedicated to advancing the decarbonization of our planet through the responsible utilization of its wholly owned boron assets in Serbia. With a commitment to environmental stewardship and sustainability, Boron One aims to play a crucial role in reducing the world's carbon footprint and supporting a cleaner, greener future for us all.
Headquartered in Victoria, B.C., Canada, Boron One's shares are traded on the TSX Venture Exchange under the symbol "BONE". For detailed information please see Boron One's website at www.boronone.com or the Company's filed documents at https://www.sedarplus.ca/.
For further information, please contact:
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
info@boronone.com
www.boronone.com
Boron's Public Quotations
TSX Venture: BONE
Berlin: EKV
US: SEC 12G3-2(B) #82-4432ERVFF
OTCBB: ERVFF
Qualified Persons
Nenad Rakic, EurGeol, Piskanja Project Field Manager, a qualified person as defined by NI 43-101, has reviewed the technical information that forms the basis for this news release, and has approved the disclosure herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Boron One Holdings Inc. Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, Boron One's expectations concerning management's plans, objectives and strategies, including its plans for advancing the Company's Piskanja Project through to an exploitation license. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry.
Boron One Holdings Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by Boron One with the securities regulatory authorities, available at https://www.sedarplus.ca/. These and other factors made in public disclosures and filings by the Company should be considered carefully.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. "Inferred Resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves. U.S. persons are advised that while mineral resources are recognized under Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.
SOURCE: Boron One Holdings Inc.
View the original press release on ACCESS Newswire
FAQ
What is the purpose of Boron One Holdings' LOI with Resavica RKU?
How could this agreement benefit ERVFF shareholders?
What assets does Boron One Holdings control in the region?
Is the Letter of Intent between Boron One and Resavica binding?
Where are Boron One's Piskanja Project and Resavica's Pobrdje Mine located?
