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Why on earth is TMS still here trying to justify his theories and “ facts “ , he really does need another hobby ....maybe he was looking to move out of the country after brexit ????!!! Oh yes TMS I do know your identity ....:)
Hi TMS,
I would politely suggest your understanding of mining and of booked resources/reserves, their relative value and economic viability is somewhat lacking.
Stork sinosteel 250 million that is not little. It's about time the stork was plucked
Also, the "Mining Plan" was completely worthless since it gave (and indeed could not give) cost and revenue figures. Again, lots more work needs doing to prove the viability of MT as an economic resource.
"The C2 amounts which make up the vast majority of what is booked at MT are of value as possibly all of them are now economic to extract."
I'm sorry but there is absolutely no evidence that this is the case. There is no DFS, or even a PEA, meaning that there is no AISC, no IRR, no NPV. Without those figures it's entirely guesswork.
As you correctly point out, much more drilling needs to be done before those figures can be provided. Until that work is done, there is no way that you can say with confidence that the C2 is economic to extract. With that being the case, peer valuations and transactions suggest MT to be worth very little.
"but hopefully some money to be made with the JV now in play."
Again, EUA have not paid for the licenses. Unless you are suggesting that Rosgeo will charge them below market value and gift money to British PIs, there is no way any of the JV assets can have immediate net value to EUA. That is to say, EUA could not pay for their interest in the licenses then immediately turn round and sell it for more than they bought it for.
The JV assets may well provide some net value for EUA at some point in the future, after they have paid for them and then done work to add value. At present, though, the entire worth of the JV can only be that of the option. Any suggestion that it will magically add millions, tens of millions or hundreds of millions in value is simply completely illogical.
Hi TMS,
The Pd equivalent figure at MT is not anything to concentrate on as the current Pd equivalent at MT is around 1.3moz as the prices of Pd and Pt have moved relative to each other since the 1.9moz of Pd equivalent was released in the Maiden Resources RNS. There are 1.6moz of Pd, Pt and gold at MT by Russian standard, mainly Pd.
At the time the Maiden Resources were given not all of the 1.6moz was economically viable, since then (as per the more recent detailed mining plan for MT) more has become economical to extract so whilst they are saying they will produce 70% more than they had previously expected it doesn't mean there is 70% more than the 1.6moz.
The C2 amounts which make up the vast majority of what is booked at MT are of value as possibly all of them are now economic to extract.
You can't easily compare a sale of MT and flanks to previous sales of operating mines because there is no operating mine at MT so even a DFS of MT will not be 100% accurate in terms of AISC and average grades per tonne returned, more so because the drill spacing for a predominantly C2 resource is quite wide (50m spaced drills on 100m spaced drill lines from past RNS) meaning what is happening between the drill holes is estimated and it's only when you start producing that you know accurately grades per tonne which set AISC.
I couldn't put any accurate figure on it as EUA are very short in terms of information given but it is much higher than figures you have suggested but my personal view is not billions from MT and flanks but hopefully some money to be made with the JV now in play.
No probs.
What actual value would you put on MT in its current state though? The only proved up resource is 1.8moz Pd equiv, 98% of which is C2. There is no DFS or any sort of study which shows it's even economic to mine. Comparative valuations and transactions suggest MT is worth very little, even if it wasn't located in a jurisdiction attracting a massive discount for political risk.
Interested in your thoughts.
Hi TMS,
Sorry I hadn't replied, I don't follow the board as much as I used to as I don't have much in here currently, just a punt.
I had been a lth but sold out prior to the JV being announced as I saw the MCap having exceeded the value I put on MT and it's flanks at that time and with the information released by EUA at that time.
There have been small changes since then regarding MT and flanks but not enough for me to feel there is a nailed on certainty for MT and it's flanks to give any multiple of the current sp if sold.
MrYFronts:
Just bumping this to ask again for your view on the market value of EUA's currently owned resources. I'm genuinely interested in your thoughts as you seem to have some degree of mining industry knowledge, in stark contrast to the hard-of-thinking gamblers here.
That first mover advantage started long time agoo..Monchetundra!!
We will see how much this will be worth..
TMS; this will speed up everything..don´t forget JORC is around the corner..all those RNS´s are missing links before the big one..22p is 20 % under the laughable price of the placements..keep doing whatever you want..the day it comes over you will not be on this board..
Those shorts will burn just like JUB
Great RNS again..till the big one :keep on playing guys
Target still £6.70
IMO palladium is being held down as well for a special reason..the buyer of EUA will be the stock of the future
Some cash and some shares of the buyer( 5kms from us :-) )..Still in my mind: Lybrion and Dmitry his intrest in a New coin..Potanin as well..if you know how much PGM´s we have over there ..Palladium and Platina related coin..
But all guesses..the only ones are our BOD
Big hugg
Casaeurasia
TMS - " I'm saying that EUA paid $500k for its option. Any possible potential buyer would also have paid $500k. Therefore EUA's option is worth $500k to any buyer. It is not rocket science."
Tell that to the oligarchs who got massive Russian rights at knockdown prices. It is rather looking like the Russians are treating Dimitri in the same way. (I hope!)
Is it churlish for me to imagine certain shorts wide open with BIIIG leverage and no opportunity to close them out tomorrow ?? No really I don’t care I just wondered if it was churlish :) ha ha
1sttime to clarify before you report me for homophobia ! my phrase “ imagine shorts wide open “ was a reference to a trading strategy and not in the slightest bit homophobic ! Ok hun :)
TMS
"What? I'm saying"
What you're missing here Storky is that NO one on this board cares what you are saying.
Just go and buy some shares, like you did before, you know deep down that you want to!
You are being slightly naive. The option would not have been available to all.
The corporate world does not work like that and if you think it did, then as I stated before, it is my opinion that you are way out of your depth here. Please dont try and say you have experience in these dealings / markets as some people may actually believe you and I dont want to see other people ruined by your 'thoughts', that is not fair or nice.
TMS - seems you are flapping, oh storks seldom use flaping flight, which means they cannot cross the wide range of the Mediterranean and must travel around instead. Time you caught up with the flock on it's migration to the sub-saharan (Africa) - late again! should of closed shop and fled a month or 2 ago - incidentally that was when SP was 14p doh
GLA
Storky is rattled, sorry you can't negative post your way out of it, foolish you deserve everything that's coming your Way.
TMS,
Think you are going round in circles "Arctic Circles" that is.
What? I'm saying that EUA paid $500k for its option. Any possible potential buyer would also have paid $500k. Therefore EUA's option is worth $500k to any buyer. It is not rocket science.
Well increase your short then
Interesting? Can you please provide some factual evidence behind that comment? Or is it merely saying that Russia is corrupt?
' Eurasia has a clear first mover advantage. The Directors believe the Rosgeo JV has the potential to be transformational for the Company'
'We concluded a company transformational, legally binding agreement with Rosgeo covering 9 projects which together
with Monchetundra and Monchetundra Flanks (including NKT, high grade nickel-copper-cobalt and PGM deposit) form
a globally significant battery metals and PGM district on the Kola Peninsula, positioning our Company among majors
in terms of combined resources of Eurasia and the projects included in the agreement with Rosgeo'
Only one way to get your hands on
'those upcoming acquisitions of Nyud, Moroshkovoe and other significant Rosgeo JV PGM and battery metals open pit deposit'
GLA
Pukki:
Come on now. We are discussing the value of the JV to a potential buyer, whom most here seem to think will be NN or some other Russian outfit. Do you *really* believe that any (massive, Russian owned) potential buyer could not have easily obtained the JV option that the Russian state gave to British PI-owned AIM tiddler EUA? Any suggestion that it is worth more to a Russian buyer than EUA paid for it is simply crackers.
TMS has a small Willy…. Pass it on. If he’s so confident of eua failing, why doesn’t he put his balls on the line.
TMS, I do believe you are slightly out of your depth here. EUA have the rights. Who else does? If someone has the rights to a license, which is not easily obtainable on the open market, would you agree this has a value over what they paid for it?
Please be sensible and don't show yourself up to be silly - your children and relatives would be embarrased.
What do you reckon is the market value of the resources EUA currently actually own? Based on peer valuations and transactions?