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And friday, my first thoughts -
"mac4671
Posted in: EUA
Posts: 9,628
Price: 26.50
Strong Buy
Who loves an after hours Friday RNS09 Apr 2021 19:00
Come on now, hands up high so i can see them arrrrrrrrggggggghhhhhhhhhhhhhhh
I think it's the first part of a consortium moving to secure what they can at Monchegorsk tbh, and it explains how confident Citic have been with all of this to have been on a success fee basis for so long!
GLA"
"In 2015, CITIC Group sold 10% stake of CITIC Limited to a joint-venture of Itochu and Charoen Pokphand for HK$34.4 billion (US$4.54 billion); the joint venture also subscribed new convertible preferred shares for HK$45.9 billion (or US$5.9 billion).[15] It was reported it was the largest investment ever made by a Japanese general trading company.[16] The transaction is also the largest acquisition in China by a Japanese company, and the largest investment by foreigners in a Chinese state-owned enterprise."
https://en.wikipedia.org/wiki/CITIC_Group
You get the feeling that they've moved via Citic due to Citic's close relations with Russia, this is just my theory. An idea from all of the current pieces of the puzzle that we know.
GLA
Here's my post -
"mac4671
Posted in: EUA
Posts: 9,666
Price: 27.25
Strong Buy
RE: Japanese consortium's is where it's now at12 Apr 2021 16:39
Anyone any good with Japanese?. When i translate it says " The Eurasia it make bigz monies from Japanese hydrogen industry, we launch ship to help with Dmitry's fleet sailing to treasure island" lol
https://youtu.be/sg-CHYYBv90
GLA"
It's all about Japanese consortiums, it's just how they roll.
GLA
Can you remember the ship vid i posted up a few days ago?. Do you recognise any names from that consortium in this article? lol
https://www.rigzone.com/news/kawasaki_launches_pioneering_hydrogen_vessel-11-dec-2019-160548-article/
GLA
Latest Powerof78 analysis puts together a good theory of what has been happening andwhere this may all be going.
It ties in well with Macs research.
Thumbs up Mac
Great research buddy
Jetcom, NED -
"After returning to Tokyo in 2010 Tamerlan founded INVERO Advisors, an investment, strategy consultancy and M&A boutique focusing on private equity, project finance, global strategy, business development and cross-border M&A."
I don't call the potential deal 'Tokyo Drift' for nothing lol
GLA
MAC& A,
Just trying to think aloud and make sense of NED, EGM FSP and trying to tie this together. Point noted re UBS And DLA Piper hence I did say it could be a tactic to strengthen negotiating hand to extract top doller from buyers involved in FSP. Could another consideration be EGM authority to issue further shares to allow Japanese consortium to take for example 20% stake in Eurasia for say £1bn thereby valuing the whole company at £5bn, which would provide capital and we get a special dividend paid.
Jumping back to JXTG Nippon Oil & Energy Corporation, you see they're already in the habit of acquisitions for growth -
"To open up one more growth strategy option, in July 2018 we acquired all shares in the German company H.C. Starck Tantalum and Niobium GmbH, jointly with the Japan Bank for International Cooperation."
Now part of that very large consortium. They're moving to corner the market as much as they can, low cost open pit mining of the commodities needed for that consortium's goals is a good fit i would say.
That company in particular is also known to work with Toshiba -
"Kawasaki, Japan — Toshiba Energy Systems & Solutions Corporation (hereinafter “Toshiba ESS”) and Toshiba Plant Systems & Services Corporation (hereinafter “TPSC”) today announced that a consortium of the companies has won an EPC*1 contract that includes civil engineering for replacement work for the Goi Thermal Power Station from Goi United Generation LLC. (hereinafter “GIUG”), which is jointly funded by JERA Co., Inc. and JXTG Nippon Oil & Energy Corporation"
https://www.toshiba-energy.com/en/info/info2019_0701.htm
See, i'm not just a pretty face ; ) lol
GLA
"Air Liquide is contributing to the opening of markets linked to the energy transition, such as hydrogen energy. We offer innovative solutions to laboratories and research center."
https://www.airliquide.com/japan/our-business-offer#science--new-energies
GLA
Money would be no object to that consortium SkankerMan, Eurasia fits what they want to achieve over in Japan.
Hydrogen producer of the consortium -
http://www.iwatani.co.jp/img/eng/pdf/newsrelease/102/20201214_news_e1.pdf
GLA
The big question is what will they be prepared to pay?
I drop things in the hope that others take a little closer look at what i drop, that consortium is relevant due to it having a company involved which has the exact same goals as what is mentioned in RNS. It's trying to supply a stable supply of what Eurasia has to the Asian market and it wants to be the leading group. Read through the PDF and you will see that they're also very sustainable focussed. It does the entire route, from mining through to smelting, electronic materials manufacturing and even recycling. It's the arm that would be on the ground if the consortium made a move for Eurasia.
GLA
Good work as usual Mac
I will owe you a bottle when this comes to fruition some time in the future/ thanks
"The 11 partners in the venture are Air Liquide Japan, Toyota Motor Corporation, Nissan Motor, Honda Motor, JXTG Nippon Oil & Energy Corporation, Idemitsu Kosan, Iwatani Corporation, Tokyo Gas, Toho Gas, Toyota Tsusho Corporation and Development Bank of Japan."
https://www.h2-view.com/story/who-is-japan-h2-mobility/#:~:text=Japan%20H2%20Mobility%20(JHyM)%20created,and%20continued%20sustainable%20societal%20development.
Now let's look at one company in particular of that consortium -
"JX Nippon Mining & Metals is a company in the field of nonferrous metals and a core member of the JXTG
Group, which aims to become one of Asia’s leading energy, resources, and materials business groups."
"Our mission is to provide to society stable supplies of materials, including copper, rare metals,
precious metals,"
https://www.nmm.jx-group.co.jp/english/sustainabilityreport/pdf/report2018_e_full.pdf
GLA
Let's look at what we've actually got, from RNS -
"business development and cross-border M&A."
"· Japanese recent investments in PGM deposits include Japan Oil, Gas and Metals National Corporation (JOGMEC) ownership of 12.95% and Hanwa's acquisition of 9.75% in Platinum Group Metals Ltd in South Africa."
"Tamerlan has introduced several Asian companies interested in working with Eurasia, including a Japanese US$21b net revenue company, that is already present in a PGM mining asset."
Yep, no Japanese angle there.
From the circular -
"Further Recent Developments
Formal Sale Process
On 1 July 2020 the Company announced that following a strategic review of its business and in order to maximise value for its Shareholders it was launching a Formal Sale Process under the UK Takeover Code. The Board appointed UBS as its leang financial adviser to assist in a review of its strategic options including asset sales or a sale of the Company. Non-binding offers have been received and are being progressed"di
"The Directors also welcome aboard Tamerlan Abdikeev as our new Non-Executive Director and the head of Eurasia in Japan,
who has already added significant value by bringing interested parties from Japan, that are keen to secure PGM deposits for
nuclear contaminated water cleaning and for the hydrogen economy, where Japan is striving to take the global leadership position.
Tamerlan has introduced Asian strategic investors to Eurasia who are committed to the move to hydrogen and fuel cells using PGM as catalysts and have active interests in PGM mineral deposits after being hit by the PGM supply disruptions."
It pretty much says Japanese investment to secure PGM deposits due to supply disruptions at their other deposits. But, like everything else with Eurasia we'll just have to wait and see.
GLA
And for a further thought.......
No company I know will being a pure customer to the board. Bonkers!
No Japanese angle?
Ha!!!
Okay Jetcom.......why then has EUA engaged UBS and Piper??? Thoughts?
If your "theory" is correct...have EUA not just wasted a shed load of money????
Even though it states that they're interested in securing PGM deposits Jetcom, the RNS at the time highlighting other Japanese investments into companies. FSP is being progressed from non-binding to binding, it can only progress one way. I mean it's an interesting idea, but info to date points to a different direction. Between the RNS and the circular it pretty much says Japanese investmwnt to secure PGM deposits tbh, but we'll see.
GLA
Mac4671, I don't think there is a Japanese angle involved in the FSP. Timing of appointment of Japanese NED may be more to do with sales and marketing of the metals into Japanese market to achieve maximum sales price for these metals. If correct, this would indicate James is confident in extracting a bonanza amount of metals from WK to fund MT mine development without triggering sinosteel contract. No doubt James will prove successful. This will allow further funds to be raised via rights issue to accelerate development of new assets in JV with Reaseo. All without having to go into debt. This should push those involved in FSP to offer top dollar.
Indeed CAW, there's also that flanks app for a further 50km2 approx, that would take WK into the 1Moz+ play territory. Nowhere near as big as what's at play around Monchegorsk, but it's still a very nice money making asset area to have another first mover position over. Cheap and fast to rapidly expand production there as well.
GLA
... action on this BB or in the SP? Recent experiences suggest the former!
Hoping for the WK Flanks to update tomorrow with 'approved' that will cause some action!
GLA
Something to think about is those 4 assets with state approved reserves. Our team will have done extensive due diligence on those assets and James has been here for a good length of time now. During due diligence he will have been assessing every angle, including the EPC requirements, by the time they got to a 'binding agreement' stage he will already have a plan for those 4 assets as a minimum imho. A plan which should hopefully be a rapid roll out kind of affair, the other 5 taking up the longer stretch of of the "Eurasia has 24 months in which to decide whether to select some or all of the assets to develop" window.
It's heading towards a month past the JV RNS, something could easily drop about them moving with any or all of those 4 before any FSP deal announcement. They like an after hours Friday RNS, we never really know what will drop on a Friday, we've had a couple of lovely surprises lately and a couple of more wouldn't hurt would they!
GLA
Jetcom, i think you'll see James really shine where it comes to those Rosgeo JV assets, his EPC background is perfect for our side of the JV there.
"With my mining EPC experience as COO of Polyus in Russia, as well as at management positions with SNC-Lavalin, Bateman and XCEL Engineering and Management and our team of experienced professionals we are going to roll out the EPCF structure we put in place for Monchetundra to the Additional Assets significantly strengthening our position in the open pit PGM and battery metals district of Kola, where similarly to the Urals open pit PGM district, we have first mover advantage in these times"
First mover advantage at both asset areas, so i guess i can agree that his vast experience and knowledge may well have been used to make WK as efficient as possible for this season as well. We're in a very great position currently.
Our new NED has already added significant value, it's stated in the circular -
"The Directors also welcome aboard Tamerlan Abdikeev as our new Non-Executive Director and the head of Eurasia in Japan, who has already added significant value by bringing interested parties from Japan,"
Added value how, i presume it can only relate to the FSP at this stage.
GLA
mac4671,
"While that goes on WK heads into processing ore due to the weather, the income stream is turned on bringing much treasure to the company and all.
I think this is the final piece missing in jigsaw. Time for James N. CEO to prove his past credentials as COO and start to convert WK treasure into cash and to truly show buyers under FSP to pay up or we can grow this baby to a mining monster ourselves.
Daily SP movements are irrelavant, we're not talking some little penny pinching share, we're talking a PGM district with Japanese buyers brought to the table who are interested in securing some nice juicy PGM pie. While that goes on WK heads into processing ore due to the weather, the income stream is turned on bringing much treasure to the company and all.
Look at the PGM prices, just in time for ore processing, absolutely beautiful!
GLA