EUR 1.41% 7.0¢ european lithium limited

I have read the full history. Nothing is being twisted by me!...

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    I have read the full history. Nothing is being twisted by me!

    There are [was] 2 issues here……access AND compensation

    From the pathfinder…..the failed AIM listing “Glock land access Glock waives any rights to raise objections in civil and administrative procedure against mining activities. Before construction and operations can commence,

    [1] it will be necessary to negotiate a land access agreement AND [2] compensation terms with Glock for use of forest roads and for emissions.

    [2] If agreement on compensation cannot be agreed between the two parties they can request the Austrian Mining Authority to determine it. The compensation amounts may be more than the Company expects. Should land access not be allowed for whatsoever reason, there is a risk that the Group’s operations could be materially adversely affected.”



    From EUR’s 6 monthly 31-Dec-2016 [Clock tried to void the 2011 access agreement]

    Land Access There is a dispute between the landowner and the Company regarding the 2011 waiver agreement whereby Glock Gut undForstverwaltung GmbH waived any right to object to the development of an underground mine on its property. Both parties have agreed to arbitration and the hearing is scheduled for 14 February 2017.

    A temporary settlement agreement (effective 9 November 2016) was reached with the landowner whereby access for drilling was allowed until 30 June 2017 with the Company continuing to make compensation payments of €2,000/month for use of forest roads and providing a bank guarantee for €150,000 in respect of any unrepaired damage to property. The dispute will not affect the Company’s access to the property and the planned drilling program will be completed before 30 June 2017.”
 
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