# Boron One Holdings Inc. Announces Positive Preliminary Economic Assessment \(PEA\) for Its Piskanja Boron Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb Original source: https://orestocks.com/company/BONE.V/press-releases/7350085584829515 Publisher: orestocks Original announcement: 2026-10-14T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-14T12:51:26.928Z Atlas analysis updated: 2026-10-14T12:51:26.928Z - Company: Boron One Holdings Inc. - Ticker: BONE.V - Exchange: Unavailable - Region: Serbia - Primary commodity: Boron - Secondary commodities: None reported - Document categories: Other, Resource update - Extracted: 2026-10-14 12:51:27 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Boron One Holdings Inc. announced positive results from an updated Preliminary Economic Assessment \(PEA\) for its wholly-owned Piskanja boron project in Serbia. The PEA highlights robust economics, including a post-tax NPV8 of US$638.8 million, an IRR of 89.0%, and a rapid 12-month capital payback period. This assessment is underpinned by an updated Mineral Resource Estimate, which outlines 7.14 Mt of Measured and Indicated resources at an average grade of 32.4% B2O3. Reasoning: Boron One Holdings Inc. announced a highly positive Preliminary Economic Assessment \(PEA\) for its Piskanja Boron Project, showcasing robust economics with a high NPV and IRR, supported by an updated NI 43-101 compliant Mineral Resource Estimate comprising only Measured and Indicated categories. - Positive factor: High post-tax NPV of US$638.8 million and IRR of 89.0% demonstrate strong project economics. - Positive factor: Rapid capital payback period of less than 12 months. - Positive factor: Updated Mineral Resource Estimate \(MRE\) is NI 43-101 compliant and includes significant Measured and Indicated resources \(7.14 Mt at 32.4% B2O3\) with no Inferred resources included in the PEA. - Positive factor: Conventional and industry-standard processing methods are planned for colemanite, ulexite, and boric acid production. - Positive factor: Low to moderate accident risk profile noted in the Environmental Impact Assessment \(EIA\). - Negative factor: The economic assessment is preliminary in nature \(PEA\) and contains numerous assumptions, with no Mineral Reserves estimated. - Negative factor: Significant future work is required to de-risk the project before mine construction, including further exploration, metallurgical optimization, and geotechnical testing. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 9 ## Classification and evidence **High NPV** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The PEA reports a post-tax NPV8 of US$638.8 million, which is a strong economic indicator for the project. Evidence · table > $638.8 million Context: Net Present Value \(NPV8\) post-tax **High IRR** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The PEA reports a post-tax IRR of 89.0%, indicating a very high rate of return on investment. Evidence · table > 89.0% Context: Internal Rate of Return \(IRR\) post-tax **Rapid Payback** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The PEA projects a capital payback period of less than 12 months from commercial production start, indicating quick capital recovery. Evidence · table > < 12 months Context: Capex payback from commercial production start **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The resource estimate is explicitly stated as the basis for the Preliminary Economic Assessment \(PEA\). Evidence · text > The basis for the PEA is the Mineral Resource Estimate \(MRE\) **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Mineral Resource Estimate includes 1.05 Mt of Measured resources at 34.78% B2O3, representing the highest confidence category. Evidence · table > 1,049,207 Context: Measured **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Mineral Resource Estimate includes 6.09 Mt of Indicated resources at 31.99% B2O3, providing reasonable geological confidence. Evidence · table > 6,090,601 Context: Indicated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Prof. Miodrag Banješević PhD. P.Geo, EurGeol, is named as the Qualified Person for both the PEA and the Mineral Resource Estimate. Evidence · text > Prof. Miodrag Banješević PhD. P.Geo, EurGeol, is a Qualified Person in accordance with the CIM Definition Standards on Mineral Resources and Reserves \(CIM Standards\). **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Mineral Resource Estimate is explicitly stated to be estimated according to NI 43-101 and CIM Standards. Evidence · text > The MRE is estimated according to NI 43-101 and CIM Standards. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The Mineral Resource Statement is reported at a minimum grade threshold of 12 percent B2O3. Evidence · text > The Mineral Resource Statement is reported at a minimum grade threshold of 12 percent B2O3 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The MRE is an update to a previous estimate produced in 2022 and 2016, reflecting current technical studies. Evidence · text > The MRE produced by Banješević is an update to a previous estimate produced by Banješević in 2022 ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-1) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:4cd7a04337182ba890d4 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 1049207 - Grade: 34.78 - Grade Unit: % B2O3 - Contained Metal: 364943 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Measured resource component is substantial and high-grade, contributing significantly to project confidence and economic viability. - Positive factor: Significant Measured resource tonnage \(1.05 Mt\) at a high grade \(34.78% B2O3\) provides high confidence. - Positive factor: Resource estimate is NI 43-101 compliant and signed off by a Qualified Person. Evidence · table > 1,049,207 Context: Measured #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-2) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:ea59b33fa66734a22467 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6090601 - Grade: 31.99 - Grade Unit: % B2O3 - Contained Metal: 1948626 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Indicated resource forms the bulk of the project's mineral inventory, supporting the long mine life and economic projections. - Positive factor: Large Indicated resource tonnage \(6.09 Mt\) at a strong grade \(31.99% B2O3\) provides a solid foundation for future studies. - Positive factor: Resource estimate is NI 43-101 compliant and signed off by a Qualified Person. Evidence · table > 6,090,601 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-3) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:11067eb06288337a2140 - Deposit or zone: Colemanite - Mining method: underground #### Resource Data - Category: measured - Tonnes: 469619 - Grade: 35.52 - Grade Unit: % B2O3 - Contained Metal: 166824 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Measured Colemanite resource provides high-confidence feedstock for a primary product, enhancing project economics. - Positive factor: High-grade Measured Colemanite resource \(35.52% B2O3\) contributes to overall project value. - Positive factor: Colemanite is a key commercial product for the project. Evidence · table > 469,619 Context: Colemanite \(COL\) #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-4) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:34605b986ef0e47a437a - Deposit or zone: Colemanite - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3360829 - Grade: 34.14 - Grade Unit: % B2O3 - Contained Metal: 1147478 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The large Indicated Colemanite resource underpins the project's primary product stream and contributes significantly to overall contained metal. - Positive factor: Substantial Indicated Colemanite resource \(3.36 Mt at 34.14% B2O3\) supports long-term production plans. - Positive factor: Colemanite is a key commercial product for the project. Evidence · table > 3,360,829 Context: Colemanite \(COL\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-5) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:3618e543b41b4d29a01d - Deposit or zone: Ulexite - Mining method: underground #### Resource Data - Category: measured - Tonnes: 256795 - Grade: 40.47 - Grade Unit: % B2O3 - Contained Metal: 103923 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The high-grade Measured Ulexite resource provides a valuable component to the project's product mix. - Positive factor: Very high-grade Measured Ulexite resource \(40.47% B2O3\) enhances overall resource quality. - Positive factor: Ulexite is a key commercial product for the project. Evidence · table > 256,795 Context: Ulexite \(ULE\) #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-6) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:ef6d3f2a9611d03ea59a - Deposit or zone: Ulexite - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 735259 - Grade: 40.67 - Grade Unit: % B2O3 - Contained Metal: 299023 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The high-grade Indicated Ulexite resource provides a significant component for a secondary product stream. - Positive factor: High-grade Indicated Ulexite resource \(40.67% B2O3\) adds to the project's overall resource quality and product diversity. - Positive factor: Ulexite is a key commercial product for the project. Evidence · table > 735,259 Context: Ulexite \(ULE\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-7) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:360cd4c5c88126ddf74d - Deposit or zone: Polymineralic - Mining method: underground #### Resource Data - Category: measured - Tonnes: 322793 - Grade: 29.18 - Grade Unit: % B2O3 - Contained Metal: 94196 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Measured Polymineralic resource contributes to the overall resource base and supports diversified product streams, despite a lower grade. - Positive factor: Measured Polymineralic resource provides additional feedstock, particularly for boric acid production. - Negative factor: Lower grade compared to Colemanite and Ulexite resources. Evidence · table > 322,793 Context: Polymineralic \(Mix\) #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/boron-one-holdings-inc-announces-positive-preliminary-economic-assessment-pea-fo--7448f280-2b64-40b9-8bb8-859c50018ebb#fact-resource-facts-8) Piskanja · boron #### Identity - Project: Piskanja - Commodity: boron - Region: serbia - Reported Region: Serbia - Ticker: BONE.V #### Resource scope - Estimate type: resource - Effective date: 2026-10-12T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Prof. Miodrag Banješević PhD. P.Geo, EurGeol - Resource group id: resource:6d3adbbb29ed3b4bd273 - Deposit or zone: Polymineralic - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1994513 - Grade: 25.18 - Grade Unit: % B2O3 - Contained Metal: 502126 - Contained Unit: t - Cutoff Grade: 12 - Cutoff Unit: % B2O3 #### Prior Estimate - Resource Date: 2026-10-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-14T00:00:00.000Z Reasoning: The Indicated Polymineralic resource provides a substantial volume of material for diversified processing, particularly for boric acid. - Positive factor: Indicated Polymineralic resource adds significant tonnage to the overall resource base, supporting boric acid production. - Negative factor: Lower grade compared to Colemanite and Ulexite resources. Evidence · table > 1,994,513 Context: Polymineralic \(Mix\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.