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Sbrace, as you say, 9 months ago it was bullish and full steam ahead. They've fooked this up and didn't have the guts to tell us at the time so have allowed the SP to get battered to current levels whilst they scratch about for someone new willing to take this off their hands and stop them looking like mugs. Absolutely no consideration for s/h's that, some of which may have been desperate for an exit Best BoD on aim my @r5e. Gutless and inept, even more so considering the level of people working alongside them. Even Joe Biden and Kamala Harris would have got this sold before our pathetic BoD.
Agree rayski, ‘can’t get it out of my head’ as kylie sang, or similar…ha
Pure conjecture but there is a third possible subsidiary "Eurasia Mining Service"
A Russian registered entity separate to kola mining, kola nickel, Terskaya Mining Co and Yuksporskaya Mining Co (Monchegorskoe LLC)
Given the Sinosteel ECP is transferable building this treatment plant is a possible option open to the BOD to generate a vehicle for an ongoing income stream.
Once constructed it would lower the cost of entry and speed up the timeline to someone buying up any one of the assets.
Thinking out of the box... Just another option.... Not saying its going to happen.
ATB LB
Layla it’s been close to 3 yrs and they have sold the square root of naff all. They just need to take the deal and go away. The longer they take being greedy the more chance they get nothing.
They're doing both lovelyboy, "as a standalone project or integrated with Monchetundra". Hence it appears as a set up ROFR agreement, allowing the buyer to buy NKT and NYUD once things are done JORC and wider DFS wise and add them to whatever was bid for during the FSP, which we know Monchetundra was as NDA's were in place for it -
"· Definitive Feasibility study on schedule for submission in 2022.
· Wardell Armstrong International engaged for various comprehensive studies on Eurasia and its projects (also the ones included in the agreement with Rosgeo), i.e. JORC standard MRE reporting and NPV analyses.
· Recalculation of MT and Flanks resources and pit outlines, reflecting metal price increase since Feasibility study of 2016.
· Recognition of NKT as a Nickel dominant mine relaunch opportunity, as a standalone project or integrated with Monchetundra."
I suspect that the buyer of MT has opted to take further assets under a relevant ROFR, it makes sense to get a good foothold in the area from the get go.
Eurasia only had 24 months to assess all of the Rosgeo JV projects before deciding to take them on, those months are rapidly passing by -
"Fri, 26th Mar 2021 17:00"
"Eurasia has 24 months in which to decide whether to select some or all of the assets to develop."
The clock is ticking rapidly right now tbh!
GLA
Concur with you Sbrace,
Well, I hope we get some news soon, this stock is doing my head in, to be honest.
AGM soon, fingers crossed
Evening LB, if you look at page 6 of technical report the map seems to show the plant, industrial area, pipeline and tailings area have already be identified
https://www.eurasiamining.co.uk/investors/technical-reports
GLA
Cheers tenantry, atb
Knew I'd spelt it wrong.
Naive....
At the risk of sounding niaeve, how refreshing to see a thread that is not critical of the company, another poster, or the current geopolitical situation.
Thanks...thoroughly enjoyed it.
ATB
Evening folks.
Personally I think the Nov DFS will include an expansion of the MT mine plan. A centralised pre processing plant and tailings facility eluded to in the NKT and Nyud rns would make the output much more suitable for downstream processing at Severonickel and Kola MMC. Toll treatment is the phrase used here over and over again. Perhaps one of the reasons for the two recent subsidiaries. "Splitting out Ni and PGMs"
This is NNs process flow.
https://www.nornickel.com/files/en/others/Proizv_tsepochka_eng.pdf
https://www.nornickel.com/business/assets/kola/
Basically the enrichment phase could be handled wholly or in part onsite and serve MT, NKT and the rosgeo areas. Not suggesting it is financed and constructed. But the DFS could offer capex, opex and roi forecasts for such a facility and enhance the attractiveness of the kola assets.
AIMHO
ATB LB
MT via FSP to highest bidder with ROFR agreements to other areas thrown in as and when they are ready JORC and DFS wise is my best guess Layla1.
This new DFS which clearly now looks to include NKT and possibly even NYUD would cover the first assets under a theoretical ROFR agreement with any buyer. More will go at later dates, POAZ for example.
I'm still leaning on Eurasia keeping some part however and having it in production at Monchegorsk, they may not though as there is a clear path to large value via the proving and selling of assets to the very big players out there like Norilsk, or, a consortium structure involving them and the Chinese.
It will be very interesting to see exactly what they've managed to get lined up through all of this, they have a hell of a lot of M&A firepower here now to get it all done!
GLA
So between may 2021 and October 2021 things adjusted from a full sale to one, to multiple transactions. Again, I think the first part is to NN.
Would all potentially be done now if ‘something’ hadn’t happened in those few months I think..
And prior, may 2021
the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale.
If this is the case then doing business in Russia and selling to another Russian company and it takes this long shows you how inept the board and the well paid advisors are!
Crazy to think this is 9 months ago—
Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted that we are advancing several transactions concurrently. We see competition for Nickel-Copper-PGM assets (with a similar basket of metals like ours and the assets included in our agreement with Rosgeo) increasing on a global scale".
Could be but I think the first aspect is as I say.
My view is that the asset sale is not a one hit. Everything suggests a prove up sell; prove up sell; prove up ,sell, etc, etc.
Think this could be a drip drip of proven asset sales over the next few years, and will involve differing nations.
Another reason it shouldn’t be taking long!
I concur, my thoughts as well
We will be sold to a Russian company I think rather than China, India etc.
Kpmg being involved as a local entity, not the international arm who have pulled out of Russia and Belarus now, plus the lack of jorc release’s—not a recognised Russian clarification so unecesssry within that country, point us back to NN I think.