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mac4671 - you say the 21 Moz is located in unlicensed areas. In his 19:31 post rowka said "21, oz’s (potential) inside the current license area?". You can't both be right.
The big boys will pay big money for this. Remember there is no more off this stuff and they all want to be the biggest . Think China.
The 21Moz is in unlicensed areas. E.g They are areas that can be applied for -
"The total amount controlled by Eurasia and under flanks exclusivity right application is c.15Moz of PGM as per the State Cadastre with an additional c. 4Moz also within the 5km exclusivity area.
Further potential resources of c.21Moz in established and unlicensed resources and reserves in the district surrounding the town of Monchegorsk, that is located 8km from Monchetundra."
GLA
I'm guessing after todays new revelations, your £3.50 could be now higher?
What 21Moz in our licensed area?. The current mine plan is for 15Moz, that is MT and the flanks -
"MONCHETUNDRA
A fully funded development project; with 15moz palladium dominated PGM resource, it is one of the largest assets globally not owned by a PGM major."
GLA
Hi again rowka,
There is a difference between lighting a blue touch paper under the share price and the price any of the potential bidders may offer. There is no real connection between them. Any bidder for the company's assets, either in whole or in part, won't give a damn about the share price.
They want to secure the asset at as low a price as possible and inferred, probable and proved resources are very different to whatever bid may be made and can affect the price anyone is willing to pay substantially.
We have a drilling company working with us, hopefully they are working very hard, 24/7, head torches on to move as much from probable to proven because that is how our company will add value to our assets.
I know you have worked hard to highlight the potential of the lower zones but without much actual drilling to prove what is there then the value will be low. Doesn't mean the palladium or whatever isn't there, but it needs to be proven to be there to add value.
I have been invested in AMC for years and they have drilled and drilled to prove up their resource. As such they cannot prove up any more resources. Every season of drilling has proved up more resources because it's only by drilling over the entire mining area at closer and closer spacing that you can have verifiable proven and state approved resources.
There is no doubt, there is no "there could be x tonnes of x mineral here" it is certified as there.
The less you have as actual proof the lower the value.
Rowka, thanks for the research and work you put into this , greatly appreciated. Have you a new share price in your head now.
" I worry when people pile into buying this share without actually realising the true value of what they are buying into."
So kind hearted of you, thats usually a reg flag when people put stuff like that because it makes no sense does it, I mean every one should be doing through research before investing in any company on AIM or the ftse 100 so not sure what it matters what any genuine holders who have researched and invested accordingly.
Hi Tiddlor and investingqueen,
If you want to check whether what I am saying is true against what GFD is claiming is true then please research this share, because you will see that everything I claim is true. We do own 68% of WK, raw platinum is very different to the pure platinum that sells for the highest prices, we sell to a local refiner at below London spot prices.
People go on about derampers and shorters without realising rampers are the ones that can really cost you money.
Despite my lack of posting history I have been investing in shares like these for over 20 years , I have fallen for shares and chased away supposed derampers, yes they are out there for sure, but the shares I have fallen for have seen the rampers catching people in the shares while they ramp away for there own profit.
RRL was a share mentioned here by Jimjamuk (sorry if I got the spelling wrong) that I used to post about some ten and more years ago. It came to nothing despite being the most posted on share on this platform and one of the main rampers of the share was said to have made a 7 figure sum from his ramping and trading the backside off the share as he ramped it. I could mention far more companies the same.
Where were the long and strong, I'm not selling a single share until the sale RNS lands crew whilst all the price action was happening this afternoon. Strangely quiet weren't they. Ever wonder if that's because they were busy selling into the rise having caught unresearched, unknowing people into buying with their ramping.
Thought for the weekend.
Alex very kindly posted that we have the Tipil license which clearly adds value here. It is an area that is an extension of what we have already, proven alluvial deposits of PGM's along the same river bed and flood plains as the WK license area. It adds value to our investment.
Does it add £110million to our investment because that's what a 15% increase in the share price suggests people are happy to value it at.
15% added to the roughly £500m Mcap of the company since we found out the from Alex about the license. Adjust for our 68% interest in WK and you get to £110 million. Yet what do we know about the Tipil area other than it is far smaller than the WK area. Any approved resources that we need to actually mine it.
We are constantly adding to our resources which is clearly positive but I worry when people pile into buying this share without actually realising the true value of what they are buying into.
Hi IQ. I am similar in age with yourself (30) with a young family so understand where you are coming from. For me, the issue is not newbies or first time posters. This board has seen many attacks, usually a new name appears with a negative post to plant the seed of doubt then boom, gone. I feel a balanced board with discussion to positive and negative is excellent however whatever the discussions, either side should be able to back up there statements. Unfortunately this board has been trolled with the negative posts with nobody able to back it up or prove what they are saying
Some fair points investingqueen and I've spoken about some of them over the last couple of days, but sometimes it's difficult to spot a clumsy newbie from a deramper. Some of these guys are paid to bring down the price of a stock, although you wouldn't believe it possible. There have been some articles written by shorters on the subject and the tactics they use. What they would love is to go unchallenged spreading anxiety and questioning the company, telling lies and half truths. Some of the better prepared guys could maybe point you in the direction of the evidence. There's a list of basher tactics also and they've tried everything here to shake us back at the end of last year and during suspension. I'm glad you're invested and I'm glad you post. I'll say it again, we're a very human board with a wide range of characters but if you're not invested please bugger off and if you're short I hope you lose your shirt. I hope this and your other 15 investments do very well. We're not anti-first timers, some of us are just weary from the battles. I've heard this a lot recently and folk are just going to have to understand that battling botflys makes you strike out before engaging the brain fully sometimes. 9 times out of 10 we're correct though.
Agreed!
To be fair to him, I'm invested in about 15 other stocks but EUA is the only board I post in. Mostly because due to, ya know, life (full time job, social life, exercise, cooking, family time, downtime, side hustles, etc etc), I barely have time to post in this one let alone fifteen others, but also this is hands down the most exciting and fast moving one! Most of my shares are for long-term holding (I'm only 29yo), so the fact that EUA is going through a sale is hugely exciting -and new! - for me.
I think there's a big issue with everyone jumping on newbies here and being very accusatory, but maybe they should be given the benefit of the doubt first. Why would anyone bother posting here if they weren't invested? It's not exactly the most user friendly board and it's so fast-moving it takes hours to read through all the posts (not great for those of us who aren't retired and have a very busy life). There will always be rampers and de-rampers, but everyone is also entitled to share a fair opinion and view without being accused of being a fake investor. At the end of the day, if you actually make investment decisions based on people you've never met on the internet and their ramping/de-ramping, you shouldn't be investing anyway. So if you don't like someone's post, just ignore it. Don't waste energy and clog up the board with accusing people you know nothing about of doing/not doing something that, really, doesn't actually affect you.
Hi rowka,
Yes valuable lessons were learnt at WK and that is clearly positive going forwards. I did sell not a small amount of shares here because I wasn't impressed with how production was going at WK after a good 2018. But those problems are in the past and the only thing to do is move on and look towards the future.
Thank you for your research by the way and have a good weekend.
Hi GFD,
So you are trying to say you deliberatly miscalculated your figures and overstated the money the company could make by a factor of over two just to catch me out.
That's the sort of answer I'd expect from someone who knows he's just been schooled but isn't man enough to admit it.
Don't you claim to be fully researched.
Seems you're.
You're not the Messiah, you're a very naughty boy.
Hi GFD,
Yes I was aware of the company seeking all the approvals needed, the fact we only produced 66kg in 2019 was because we didn't have those approvals so it is clearly good news going forwards that we won't be held back like in 2019 with the production.
Do you have such a problem with people posting actual facts that can be verified through previous company RNS's that you immediately are so defensive that your only retort is to accuse me of being Voldermort.
So you are fine with posting figures that are twice as high as will be achieved and I, the person posting the true figures is the the one to beware of ?
Hi GFD,
Meant to reply to your 11.04 post earlier but things got a bit busy here.
The actual figure will be much lower than you suggest at £8,596,921 for the 319kg just in the Kluchiki area.
Raw platinum is different to pure platinum, you tend to get around 720/790g of pure platinum per 1000g raw platinum.
We only own 68% of WK .
We don't get London Metal Exchange prices but between 93-95% of them and we pay 2.75% of the value for refining the platinum .
Makes a fair bit of difference.
I did say we hadn't heard anything about upgrading extra resources to State Approved, in fact they have been upgraded just we don't know by how much.
Hi all. Don't mean to butt in. I was going to post this last night but it seemed a little busy
I did a bit of a reading yesterday through the previous RNS's..... one thing that caught my eye was last paragraphs in the Flanks RNS. Apologies if this has been talked over already. I fully realize this, as it states, is unproven and as an indication only, but it does give some idea of the scale of the resources. I added spot prices from LME and tbh I had to double check the number of zeros on the 10 scientific calculator.
"Notable occurrences are at NKT where a Russian category P resource
(similar to an Inferred Resource under the JORC classification)
was provided to the Company by the Apatity branch of the Territorial fund of geological information.
The resource was calculated by the state funded research group Rosgeologia in 2017 and comprises
Ni - 298,000 t (LME spot $14250/t) $4.2B
Cu - 229,000 t (LME spot $6525 /t) $1.5B
Co- 11,300 t (LME spot $33000/t) $0.37B
Pt - 18.5 tonnes/594,000 oz (LME spot $980/oz) $0.58B
Pd - 55 tonnes/1.7moz (LME spot $2222/oz) $3.7B
Au - 7.6 tonnes/0.24moz (LME spot $2035/toz) $0.48B
Ag - 185 tonnes/6moz (LME spot $26.73/toz) $0.16B
Eurasia has not verified this resource, and therefore it cannot be relied upon,
but it is provided an indicative of potential in the area"
Potential of $11B by my calcs. Hope i'm not a factor of 10 out :) Shoot me down if I am.
If there was a potential for 7 tonnes of gold in my back garden I'd think twice about selling my house to first bidder. Actually I'd think twice about selling it full stop. It's a longer term game but if EUA don't get an agreed offer/sale there's plenty of different colored shiny nuggets to provide ongoing revenue. Just my thoughts.
ATB LB
Certainly not bad when looking at a potential dividend scenario gfd. The longer the FSP goes on, the higher the potential dividend from WK, i bet a few had forgot about that little gem of a scenario.
GLA
Since the 2014 approved feasibility study the company has done some infill drilling which by their calculations have increased the total contained platinum for Kluchiki. Those drill results were sent to Uralnedra to upgrade the resource as State Approved but we haven't seen anything as yet saying they have gained State Approval.
Wk is platinum dominant, but you will notice the basket of metals produced, it is always mentioned in RNS -
"Eurasia Mining plc, the palladium, platinum, rhodium, iridium and gold producing company"
If you watch this interview, you will hear Dmitry talk about them looking into dividends, now wouldn't dividend be nice from the bonanza grade area -
https://www.youtube.com/watch?v=d_YMY6yiMDE&feature=youtu.be
GLA
I hope those Bonanza grades produce as much Rhodium per day weight equivalent to Hoss Cartwright
We're definitely due an operations update for that asset imho.
Typil and a separate flanks application are in the works and it has been producing for quite a few months now -
"Further exploration license applications
Tipil License - Additional 24.5km2 west of the current mining license
Project Flanks - Additional 50.7km2 surrounds the current mining license and includes strike extensions to identified reserves and resources. MOD approval received in May 2020."
https://www.lse.co.uk/rns/EUA/annual-report-and-accounts-pejv5lxg8dt8bx7.html
Extra machinery to site for 100% revenue to us -
"In addition to the existing machinery and equipment already owned by the Company as described in the announcement dated 26 November 2019, a lease agreement has been signed with Leasing-Trade in relation to the following:
· Two new Hitachi ZX330LC-5G excavators that have already been shipped and are currently operating at site, and a further Hitachi ZX300LC-5A excavator awaiting shipment;
· A 30 ton Chetra T15 bulldozer arrived on site on 15 March 2020; and
· The lease agreement also provides for the delivery to site during April 2020 of additional 4 Kamaz 20-tonne ore haulage trucks."
https://www.lse.co.uk/rns/EUA/general-update-cxkrj8bql7vbtxf.html
Targeting the bonanza grade Kluchiki area -
"Evidence for bonanza grade ore pockets within the latest Kluchiki drilling results."
"Drilling occurred as infill drilling on 6 traverses within the Kluchiki Area which spans a distance of more than 2.5 kilometers in an east west direction"
https://www.lse.co.uk/rns/EUA/eurasia-mining-plc-kluchiki-reserve-drilling-and-mine-season-update--a3scd8cl3sqat9c.html
GLA