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Hi GFD,
My position comes from past statements from EUA that refer to the resources in the flanks as inferred resources from previous drilling that has happened there.
"The inferred resource calculations in the area are largely based on state funded early drilling campaigns".
"NKT category P inferred resources calculated by state funded Rosgeologia in 2017, indicative of potential in the area".
"There is no guarantee that all the resources outlined in these occurances will result in mineable reserves".
There is no doubt there is a lot of potential in the flanks but potential doesn't sell for as much as proven and to get to proven economically viable reserves takes time and money.
The question I am asking myself, and as such have raised it here, is are they selling it before moving it up the value chain or is the interim appointment part of what will be a delay whilst it is moved up the value chain. The answer is unknown as yet because, as usual, we can only guess from very limited information we have been given.
lets hope this RNS was just getting the final ducks in a row, followed swiftly by the mega rns this week
We know they have been infill drilling in the original MT area and we await an update on that which is supposedly coming at some point.
Properly proving up resources for the flanks needs core samples from drilling being reported on to give grams per tonne of PGM's in situ and interval thickness and from there, if there is enough, you can get to reserves that are deemed to be economically viable and that's the point of the detailed exploration project that they have applied for.
Nitrokev, point taken
In the context of talking about underwear I don't want to be thinking of TDT having his shorts open :)
Hi GFD,
I hope that the sale of MT isn't imminent because if it is it's with the flanks being inferred resources.
"In April 2021 we submitted a detailed exploration project for the flanks area to develop these prospects and bring further resources into the scope of the mine".
Did the BOD have expectations for a price for MT that none of the potential buyers would pay ? Did the BOD say we want X for MT and potential buyers said not for mainly inferred resources, you prove what's there and we might be more interested hence an interim CEO to get proving the flanks up ?
Dulyred, even if the sale was announced tomorrow the process isn't over, best part of a month until an EGM can be held then maybe a few more months until everything is concluded, you need an interim CEO to cover that period
"Hopefully when the deal details land we'll get some peace and quiet from the half that are of strange colour."
Agree.
I am so looking forward to reading posts about future mining numbers, sales of the metals mined and new licences etc, etc.
Soon, it is going to be so refreshing to not have to read about the sale of company assets.
It's boring the pants off me.
Will the bots pipe down and dark pools close their boiler rooms when this is concluded.
I ruddy hope so.
INTERIM, INTERIM, INTERIM
Interim to Eurasia.
When what he is interim off has sold, he will no longer be interim CEO of 80% subsidiary Terskaya Mining Company / Terskaya Gornaya Kompaniya (that holds the Monchetundra license and the Monchetundra Flanks license).
Why would you need an interen ceo if the sale is to conclude in the next week or two weeks. IMO they have put in place so they can stretch this process for another 6 months or so. If it was a speedy sale the buyer would put somebody in place. Hence my thinking it’s a long way off.
What else other than a sale of, at least, MT was anyone expecting ? They have been wanting to sell MT since 2015 and that was the whole point of entering the FSP.
Interim gives a pretty open time scale.
Just drown the negativity out with factual posts, they have nothing to back anything they say up, it's all very bizarre how they are all still posting on here trying to sway well researched investors, very bizarre indeed.
Cracking post monty. The RNS is what it is, it tells anyone what is happening tbh, it's right there in black and white.
Hopefully when the deal details land we'll get some peace and quiet from the half that are of strange colour.
GLA
Not sure how you can know its a long way off dulyred.....
A company must have a ceo appointed. I would argue the fact they used the plase interim ceo and not just ceo, that actually, its probably not a long way off....
Monty - firstly top post
Secondly, unfortunately there are a lot of very very stupid/ignorant/deramping (pick a category) folk on this board, that dont actually know what bread crumbs are so can't follow the trail. Anyway their loss.
Await the news, very very relaxed.
Agreed, it means that this is still a loooooong way off. Which is now clear to see for everyone. Down she goes tomorrow.
Too right Monty
.
The word "interim" is doing a lot of heavy lifting in that statement, for those sharp enough to read between the lines. So, er, not our green-coffined friends then.
"Konstantin has further been appointed an interim CEO (interim in the framework of the RNS released on 12 May 2021) of Eurasia's 80% subsidiary Terskaya Mining Company / Terskaya Gornaya Kompaniya (that holds the Monchetundra license and the Monchetundra Flanks license)."
How many more crumbs do people need laying out before them?
"...HAS FURTHER BEEN APPOINTED AN INTERIM CEO (INTERIM IN THE FRAMEWORK OF THE RNS RELEASED ON 12 MAY 2021)".
I mean, it couldn't be any clearer, could it? The 12 May RNS said clearly we're selling assets and he's our man to see things through to the other side on our behalf for an interim period. The fact that he is the former MD of Rosegeologia should put some lead in everyone's pencils too. It demonstrates clearly that EUA's governmental support is rock solid. Not long to go now.