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OSP, i think Eurasia hold the JV for MT area and not any current subsidiaries.
GLA
CAW don't we already have wholly owned subsidiaries like TAO Terskaya, and the mining licenses sit with them and not Eurasia Group level? If they were selling off WK for instance, they would simply sell Eurasia Group's interest in the specific subsidiary, they wouldn't need to split the company?
Unless I'm misinterpreting what you are suggesting!
I don't think 'ability to allot securities and demonstrate a capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company benefits the Company and its Shareholders by improving Eurasia’s negotiating position' is anything to do with raising cash but the ability to allot shares and split the company in two. One being Eurasia with WK assets and the other Eurasia Japan with the Kola assets.
This would then allow both to be sold independently if required.
At present until the vote the only option is a full company sale of all assets. We could be in a situation where the some of parts is greater than the sum of the total.
We may be sitting on a offer for the whole company at x price however someone has offered y for Kola area and someone else z for WK area. Y+Z offers being greater than the full company offer.
Now the question being put to the company after the 'full company takeover ' is either raise your offer or we split the company and sell separately.
'Eurasia Japan' looks to me to being the subsidiary for the 'Kola' area and potential shares will be issue after the EGM 'pro rata' to current holdings at no cost to make a separate entity to allow the split and sale to two different companies if that is the route to go down to maximise shareholder value.
To do this 'Eurasia Japan' would be a completely separate company with separate Directors and IMO hence in the RNS Tamerian is now Head of it and 'Reputable members of Japan's business community related to PGM are in discussion to join Tamerlan at Eurasia Japan'
IMO it is all being set up to either get a better full company offer or split and sell both independently or just sell Kola and keep mining WK
What ever way win win :) I expect a flurry of RNS on the 28th - 30th outlining the route/offers that are going to proceed.
GLA
Oh forgo to mention ! that would include the bod who are major share holders sooo too cheap will invite criticism!! another reason the price would not be bargain basement that some may be expecting :)
The £0.5m was just an initial consideration - the company will need more cash if it wants to proceed with any of the Rosgeo.
rights issues are underwritten by the financial institution running it ! Share holder are offered an allocation based on their holdings and the unsold shares if any are bought by the under writer !
Getrichslowly....gone green.
So who will get the shares
weel if we bought 75% of rossego for 500k it wont be for that we could finace that right now! I think whatever happens if there is an issue what better way for the BOD who are constrained by the nda and fsp to set their stall out. :) Rights issue at say 34p underwritten but huge financial consortium who want to buy future product anyway ! This is the price if you don't want them these guys do lol :) Bod sets their stall out very clearly within the straight jacket of the fsp !
I've voted. Very efficient with HL actually: sent them a secure message asking them to cast my vote FOR all resolutions and they've done it. Excellent.
I'm not 100% confident that money won't be raised. I voted in favour. I don't think it will 250m new shares, I think that was just a coverall number previously used. Still keeping intentions under Wraps.
Companies can raise money for any number of reasons, not always due to financial stress and not always to "keep the lights on".
What I am 100% confident in is our Bod. If we do raise cash I'm absolutely sure it will be add further value, getting another bargain and moving us closer to payday.
Agreed Judge.
Squeeky time for any shorts or shorting CFD's IMHO.
This next two weeks is going to be very interesting!
major assumption floating around atm. First that there will be a rights issue ( not a given ) and secomd that the rights issue will be at a discount to prevailing sp also not a given. IF there is a rights issue WHO will it be underwritten by ? Has anyone considered it would be underwritten by a financial consortium from Japan AND if the rights issue were to be at a premium of the sp the un allocated shares would be taken up by said consortium.
Knowing that a common situation re rights issues is that the sp walks down in anticipation what better way for a large investor to take a large position without spiking the sp ??? Remember most rights issues are for a company in distress WE ARE NOT! So the prevailing behaviors have no relevance to us other than its the way things usually pan out.
What im saying is dont assume you will be able to buy cheaper later ! you may have a rude awakening :)