Developing a Deep Metal Mine in Bosnia With Paul Cronin

In this episode, we chat to Paul Cronin, MD, and CEO of Adriatic Metals, an ASX and LSE-listed precious and base metals explorer and developer that owns the world-class Vares silver project in Bosnia and the Raska zinc deposit in Serbia.

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Paul's background is in corporate finance, investment banking, funds management, and commodity trading and is a co-founder of Adriatic Metals. He describes their journey in developing this world-class polymetallic underground mine in Eastern Europe and what this is going to bring to the region.

✅ Bosnia has a well-developed coal mining industry. But their regulations are a little outdated compared to other jurisdictions.
✅ About two-thirds of their staff live locally, which is good for their standing in the community.
✅ Bosnia is rich in natural resources.
✅ The country has an abundance of cheap power and a fairly young diaspora that is starting to return to Bosnia, bringing all of their skills and experience with them.
✅ Inflation is having an impact. For example, the cost of diesel has proved to be a big issue. But, in Bosnia, the cost of power has not soared as it has in other jurisdictions.
✅ Bosnia is a vibrant, extremely beautiful, culturally rich, and welcoming place. People are extremely helpful, although some elements of bureaucracy move slowly.
✅ The expectation is that they will hit the ore body on their underground mine by October 2022.
✅ Production is scheduled to commence in Q2.

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