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Quote from Crisp
"My average due to selling a load averaging 19p is 4.5p but 10p is my target"......you sure Crisp :-)
When They bought Toral as far as I can see, following the placing to raise the money, they had 1.28b in issue @ 0.13p so the company was worth £1.6m
Today its still worth £1.6m having raised over £10m in placings .....and Crisp thinks they have done with placings :-)
I actually have one worry and that is the financial strength of Denarius to complete the option 1 funding but also the huge monies that Denarius will require to fund a PFS on the much larger expected area in including Antonina + paying us £2 million. However, if Denarius fails in Option 1 we retain 100% of EMI and with the MLA which hopefully will be granted. If Denarius can't financially take up Option 2 then for me that is more worrying.
I did wonder about the Mkt cap v current deals with denarius. Excuse my figures as i am not up to speed anymore but lets say 1.6m mkt cap against 4m in promises ? Humour me :-)
Presumably the money from denarius is accounted for in future drilling and commitments and maybe conditions the money is spent on the agreements and not on future projects ?
So to buy another project which is their stated aim, can they use Dearius cash ? Also can they use Denarius cash for remunerations etc ?
In short how much of the money from Denarius is available for working cash for EUZ and how much is for the Iberia project ?
Lols…doesn’t expect a placing soon….I suspect a sale of the 20% that remains in EMI to Denerius and the funds to be put into another project…..rinse and repeat.
Thank you Grappa and see you in 2024. I might buy some more so you might see an RNS. My average due to selling a load averaging 19p is 4.5p but 10p is my target. I am very happy with the financing and the field work and the SP is actually not an issue because I don't expect a placing anytime soon.
Its about time management accepted that the market value of £1.6m and falling is due to lack of investor sentiment rather than any financial apprasial and told shareholders that are left, what they are going to do about it ? in return for their ridiculous wages ? ( in proportion to the market cap.)
Cri5p,
unfortunately 3% of nothing is nothing. I really hope this goes up for you.
Big drop for a small volume. See you in 2024 :)
If this gets back to 10p now I’ll be surprised lost a shed load what a joke it’s becoming.
RMM not RRM
The shareholders buying in at 40% increase would have expected a positive SP because this is very good news. However, the AIM mining sector is massively down and EUZ is unloved by PI's. I still own almost 3% and am pleased over the last 12 months. My target price is 10p and the news so far this year with the MLA and drilling results being very positive. In the last 12 months I have seen RRM and HZM SP crash, both of which I sold out of over 18 months ago due to the limited upside compared to the risk of total failure. 10p is not a guarantee and is my own opinion. The next 12 months if the MLA is granted and the area for a PFS to be paid for by Denarius is enlarged by a multiple then this share will rerate.
Rather muddled thinking on the PFS but putting that to one side I do agree that the voting was interesting. I suspect that the supportive shareholders who bought at 4.5p on the Denarius deal which was a 60.7 % premium to the SP at the time are far from happy about the Directors subsequently granting themselves options and performance rights exercisable largely below 4.5p It is also noteworthy that Bennelongs 1.5m Advisor Options at 5p shares expired yesterday so likely they have made their feelings clear.
Crisp
As i said last week the need for a PFS is nearly always to get finance, basically high interest loans to proceed.
Because EUZ has chosen to finance this outside the financial institutions ( did they ever have a choice ?) they didn't need the PFS to continue........ however the high intrest loan still stands.....80% of the company in fact.
Your concern should really be the SP has only ever gone down since the Denarius deal was sighed ....why is that ?
Worrying times for the BOD , there is dissent in the ranks it seems according to alliance news. The voting was definitely not a foregone conclusion. Yet another 10% drop in the SP and my prediction over time of a collapsing SP continues so that the bounce when it happens will barely take this back to where it has already been before this agreement with Denarius at best.. .
The market seems thrilled they will start drilling again...lol and so the wheel goes round and round and round...
A lifestyle company for those drawing a wage here but no one else it seems,
Here's the link:
http://www.europametals.com/site/pdf/897eea81-efe1-4ae4-88e8-d61cdbd987c9/Europa-Metals-2023-AGM-Presentation.pdf
Lot's more detail on the mine plan.
Drill plan for 2024 is for 'combined' Toral and Antonina so appears they're confident of getting the permit for Antonina (expected later this year or early 2024). IP for Toral is encompassed by the MLA and will run until it is granted, before that comes up again!
I told you EMI would be going after Antonina and 7,000 m drilling planned. However, remember what BricksSA said it is all delusional and a scam because they can't do anything without a PFS!
Https://x.com/europametalsltd/status/1729868459595694287?s=20
At least we can say the pair of them are consistent…..listed at 20p per share less than 6 months ago and trading at .09p today….55% loss for shareholders in less than 6 months….as Highside has pointed out…..we can only predict the future by plotting the past :-)
I notice dy6metals whom both MC and DS are involved in have 3 projects….wonder if these are the 3 projects EUZ are looking at :-)
Thanks Sheds…..have a look at this
https://dy6metals.com/wp-content/uploads/2023/04/Prospectus-DY6-LODGEMENT-VERSION-FINAL-3-APRIL-2023.pdf
I very much doubt I'll be able to go to the AGM but my thoughts on your points.
1) Awarded at 5p and they expire at the end of the month incidentally. Of course we don't know what part Bennelong played in the Denarius deal though of course that only added any value for about half an hour :)
2) Habib is difficult to gauge as he could have provided some useful services without delivering a slam dunk deal. My best guess is that he very likely left with the better part of the arrangement. I can't be bothered scouring the 2021 accounts to find out and I suspect it will be bundled up in 'consultancy services' anyway.
3) WA conducted the successful metallurgy of course which is still a critical part of the PFS, what the relationship is now I don't know.
4) Conrad list pre-production contracts amongst their services so I suspect we were investigating forward selling deals. I don't see it as a ploy to 'rope investors in'.
Lols…I think I was worse than Chrisp punting this stock in days gone by Highside.
And a few more questions for Chrisp and those attending the AGM.
1. What value has Bennelong, the Australian company added after being given 1.5 million shares ?
2. What value did Adam Habib add after his appointment as corporate advisor and how much was his compensation and for how long ?
3. Wardell Armstrong were appointed PFS managers in June 2021 ? Are they still the PFS managers or was this just another bad decision made at the wrong time by EUZ ?
4. In August 2020 a marketing agreement was signed with Conrad a Hong Kong based company to sell concentrate from Toral ? Is this still valid or was it just another ploy to rope investors in believing EUZ were close to mining or another EUZ bad decision made at an inappropriate time?
Hi Bricks
All legitimate points that deserve debate but obviously once people start filtering anything they don't like then discussion becomes difficult
If its the case that EUZ/Iberia has to find 20% of any cost going forward once stage 2 is complete then i cant see how that will work without piling on debt/loans ? If it is the case and i am not convinced then they must have cleared this with the large holders like DB.
As for EUZ becoming a shell ? well without another project i doubt they will have much choice and if they need to find 20% of future cost i cant see another project is even a glimmer in the distance.
I don't know TBH, its why i sold up because i don't know. Too many questions and not really a plan for shareholders although i expect they have a plan for themselves.
The only indication of future performance is probably past performance so it doesn't look good
As for the PFS ? My feeling is a PFS is important to raise finance but as they have done this by offloading the responsibility of raising said finance its probably not at the top of the to do list.
Https://x.com/europametalsltd/status/1728106110337577108?s=20
Europa Metals Iberia, sponsor of the XV International Congress on Energy and Mineral Resources.
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Also ask him if it costs $100m to get Toral into production where is he going to find $20m as EUZ will have to pay their share if they own 20% of Toral….as a shell company :-)