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Proactive Investor;
Eurasia Mining says potential asset buyer completes due diligence
Other options for the assets are also being advanced concurrently said the explorer
Eurasia Mining PLC -
Eurasia Mining PLC (AIM:EUA) said a potential buyer of most of its assets in Russia has successfully completed its due diligence.
The miner added it continues to assess additional interest from other parties and intends to advance several options with advice from UBS, DLA Piper and other advisers.
Christian Schaffalitzky, Eurasia executive chairman, said: "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."
Would love a boat though but not in the Atlantic.
I would have to go to Menorca and get it in the harbour in Cuitadella. One of my fav feel good places.
Sell up then.
Good luck to you judge. Just retired myself. Looking for a new house then in 3 to 4years we are off to canaries for good probably, if we can get in these days.
That’s because there are very few if any deals to get over the line that are as complex, large and highly valued as Eurasia mining.
If you DYOR and read the RNS releases over the past couple of years as a baseline you should get the picture?
Finally monty you and I finally agree on something ! Almost lol when this concludes I will be a landowner retiree ! The time it takes to traverse my empire and the mode of conveyance ? Well that depends on the sale price :).
And me,bdev,Taylor wimpy,psn,vod,ibm,Rio.
901 posts to now .... says something...
Not for me sorry. When this and my 5 other aim share conclude I'm sticking with divi stocks.
EUA is a total conundrum
To be or not to be?
Never known such a stock to take so long to get over a deal line!
Meanwhile
https://twitter.com/DVH_Phoenix/status/1453126172594819076
Interested parties have seen the info in the “ jorc” since the fsp nda agreement ! The jorc is that information checked and validated to a certain recognised standard !
It’s not like the jorc is a brand new thing being unveiled for the first time lol Are you being obtuse deliberately monty?
If I package a chicken a leg of pork and some sausages and call it Sunday feast in October and call it Christmas dinner pack in December the contents don’t change!!!
It is the standard of the examination, the quality of the work and the level of attention to detail added to the reputation of the appointed contractor that adds up to the jorc !
The information remains the same by and large.
Look in my freezer in October and call it Christmas dinner pack if ya like same contents right up until the specific rubber stamp is applied ! But ya kinda know that don’t ya ?
So buyer can see jorc without the licences but it cant go public until all the boxes are ticked. Sounds good.
MT Flanks license we already have. Current talk about licences concerns the Rosgeo JV areas.
Do we still need licences for jorc to go public?
Evening all. Nice rns with only a few words but giving a lot (870+ posts) to chew over!
Not gone through everything so apologies if already picked up by others, but that phrase "successfully completed" is key to me.
How many proposed deals have the seller announced "The buyer has successfully completed due diligence... and chosen to walk away"? Next announcement is key but if it were to be walk away I'm sure the BoD would have got the vibes and only said "completed" - it means the same as "successfully completed" but carries less of a positive spin. Nomad also approved the wording.
So, if this is still for "substantially all" our assets it stands to reason the MT Flanks JORC numbers have been seen, as that has to be part of our assets.
So next rns is either JORC or offer, in spite of the additional interest. I don't believe the Bod can hold off announcing a formal offer if received and if it does indeed trigger Rule 15.
Get it in, buyer, and get it in writing. Give the other parties a kick up the arris too.
Reckon we're approaching fun time everyone.
GLA
Sorry i meant to say Tillywhiz
As I just stared it is a complicated situation.
Would help if Jorc is concluded as soon as possible. This in turn could put a new skew on matters with other potential suitors.
And as you stated maybe things won't be concluded that quickly after all.
Sorry for the late response. Im not trying to cause an argument as i think Mac, Tillywizz and many others are great posters with detailed information.
The reason i believe it could be another 6 months is as much as a DD has been completed today, once the JORC is out via RNS, it could cause a bidding war from other parties of interest. That could take time in itself. Thereafter we would be approached by the BOD with a recommended offer which each investor would have to vote on. Once all votes are cast they will have to verified. If accepted the money split between all shareholders via their current holdings.
Some are ifs and buts but comes across as a long process
So all the posters recently unhappy with the Bod/sale progress etc etc can't have realised what a complicated situation exists.
It'll be interesting to see what's sold/is left after all concludes.
Throw in the JV with Rosgeo and the Jorc.
Could parts of the JV assets now possibly be under consideration as part of the existing sale?
Beautifull day..what an RNS..
The Directors are delighted that we are advancing several transactions concurrently."
And then mentioning UBS and DLA Piper..just like saying it´s up to you guys..love it..
To all those who called people rampers..keep on playing ..
The moment is coming closer.. the True value of EUA is not in pennyland..big pounds..
Still trading 20% below the placing price ..
Who cares when the billions will land?
Monchechorsk will be ´The´place to be..ask NN..everything is on the way..the little railway..
Just so curious apart of NN who has the facilities..but who else?Japan?China..but I also read something about NN and a warehouse in Holland..Is it possible Europe can compete with Asia or will Elon show his wallet?
Keep on playing but the end is near guys..
Grtz Casaeurasia
Member of the coming closer Happyclapper millionaires club( remember £6.70) xx
Yeah, come on STB, why on earth would you think that?. You have to provide something reasonable to back up your case, there is nothing out there which suggests this will take 6 months, nothing at all. Quite the opposite tbh, they have done everything which is required to sign the paperwork and transfer the cash, well, other than putting it to our vote that is, but, that's a trivial thing to do as the signatures will fly onto the paper very rapidly when they show us the huge deal specifics.
Literally only a few tiny little things left to do here, for Dmitry, UBS, DLA Piper and all of the rest, it is an absolute cakewalk from this point in time, they are advancing the transactions as per todays great news -
"The Directors are delighted that we are advancing several transactions concurrently."
Not a chance that this will take much longer, all of the real donkey work has been done!
GLA
STB - Can you share with us why you believe it will be 'another six months to get this sale over the line'?
TIA.
I still believe we are looking at another 6 months to get this sale over the line.
Several transactions could also be a ROFR agreement for further assets to go to the original MT buyer. As and when the licenses arrive in Eurasia's hands at the 100% stage?
Can't wait to see the specific details of exactly what has been arranged with the Monchegorsk district tbh!
GLA
Grab a slice of 'several transactions cake', and nibble on some 'Due Diligence done' cheese and wash it all down with some mighty fine chilled Koka Kola.
It's done, it really is a cakewalk from here!
GLA