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"substantially all of Company's assets" - You can't just ignore this critical part, it's a disposal of company assets. What Rosgeo JV do Eurasia currently have?. The answer in zero, none, not even 75% of one at this stage in time. You can't dispose of what you don't own, that is legally impossible.
GLA
Judge & all
Sceptical indeed
Well the BOD are large stockholders & the daily shenanigans on this stock must raise an eyebrow from many investors ,
As I stated earlier, the fact we’ve just had 3 sessions with the lowest volume in 2 years , no dark pool kippers or shorts closing , then on the day of an RNS ,
suddenly shorts closing & a spike in volume , mmm… if you were sceptical the fire exit was opened to save there sphincter hair being singed in the morn
Myself Always stays positive on this stock as look at the stock positions , RNS & market behaviour etc
yet seemed to have spent the last week listening to whinging flapping flounders & investors out of there depth or taking earache of bozos telling us there is no deal & expecting the BOD to feed them daily , which the BOD have done .
All shipmates best prepare the main sail for morning
Rums all Round
I read that May 12th RNS the same way as Sharegar, I agree with Mac though that this RNS reads as though just MT is going, heavy hints.
However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets, the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale.
Hi Mac,
To answer your question, why I predicted the sale to include "part of the JV".
The reason I think this is the case comes from the RNS on Wed 12 May 2021.
It stated:
"As announced via RNS on 14 January 2021, Eurasia and its advisers have engaged with a wide range of parties interested in acquiring either the assets and/or the Company. The Company has more recently focused its attention, including providing due diligence access, on a limited number of potential bidders who had shown consistent interest in Eurasia and its high-quality asset base.
However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent ("Pt eq") Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project on Kola (as announced on 26 March 2021), the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale.
The Board has therefore also decided that it is time for the Company to exit from the Formal Sale Process."
Why would they state? "However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV")" and then go on to say "the Company has now received several proposals".
I could have read it wrong, but that is what it looks like to me.
GLA Sharegar.
I'm reading the pearls here and IMO...
1. The BOD have all but confirmed we're selling "Eurasia's 80% subsidiary Terskaya Mining Company / Terskaya Gornaya Kompaniya (that holds the Monchetundra license and the Monchetundra Flanks license)."
2. Retaining WK... "the West Kytlim expansion is already in good hands of our in-house team on the sites".
3. Developing the JV " Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") (for more details on YGK please see below)".
Either way wouldn’t a nice 20 % er tomorrow settle the tummy and toast a few mellow fellows :)
"plus part of the JV" - Where on earth are you getting that from?. His interim appointment is only over one subsidiary, interim as in temporary, as in MT and Flanks are going. There is and never has been anything to point to any disposal of Rosgeo JV assets.
GLA
Am I the only one who got the impression reading that rns that it was a tweaked “ appointment rns “ with the heavy hints dropped in, in response to the sp drop to act as a reverse speeding ticket ???
I read it as the biggest “ read between the lines “ and chill ive probably ever seen and to use sailing parlance as close to the wind as is possible to get while staying away from the lee shore that is fca rules !
Splice the main brace ( have a drinkie) and relax :)
Excellent RNS: Yet again we are making great progress adding more world class connections with another quality "Interim" appointment.
My Guess: Sale of MT/flanks plus part of the JV (possibly the 4 pits that have the Russian FS 104MOz Pt equiv). That makes perfect sense due to the close proximity of these pits to the planned M/T production facilities.
Eurasia continue to develop the whole JV so that the sale price is maximised. The capital raise at 26.5p IMO will be worth the 3% dilution.
Possibly WK will be sold to someone else, but since this is predominantly Platinum I would not mind this asset to be held for the longer term. Pt has a great future IMO.
That would leave us with the other 5 pits from the JV and we would be in a great position to develop them further and possibly sell at a later date for massive Dividend number 2.
Remember, the company hinted strongly at Resource increases from 104 Moz (JV) in a recent RNS.
We could eventually upgrade to 100% JV plus get more licences in this "Bushfield like" world class district.
The sky is the limit, not bad unless you want to be an Astronaut!
GLA Sharegar.
It's right there in the RNS.
Read it.
BoD take the time to ADD the reference the 12th of May RNS AND then more over ALSO explain in the same para WHY that RNS is important by mentioning the licenses it holds. The ones to be SOLD.
They really cannot make it more clear to us what is going on without saying it directly.
Come on, read!
MS
I wonder if the 'speeding ticket' was issued as we were approaching the potential possible value of an MT sale, whilst still not sure about outcome for WK and before landing the Rosgeo licences?
£2bn sale, minus cost and retained monies for developing new licences probably about 50p?
Not bad, 50p in your hand, WK still to resolve and stack of land at knock down prices for ongoing development and extraction for years to come?
Yeah, plan for ACF (which is conservative btw) and whatever else comes on top is simply a bonus. Just think bidding war between interested parties to get an idea of something to come on top.
GLA
ACF reckoned £2bn for MT which is c70p/share before costs etc.
Still leaving all the other goodies to be worked up or sold too?
Rum & a Recap
.Another Positive RNS adding more development detail to the deal Map ,
.so the company yet again produces more info on what’s happening & feeding stockholders as mileposts are met.
Yet we still get so called investors whinging & expecting the BOD to spoon feed them , guess what that’s exactly what your getting ,
.Now do posters understand why there is so much stock shenanigans occurring & so much stock in BOD & ii hands !
.Said it so many times the stock price does not represent the current deal position !
Manipulation to gain stock while trading in dark pools .
Part asset sale & Divis all Round for all invested
Amers, your head will fall off tomorrow as it's a bucket with no brain in it!
Definitely MT and Flanks being sold …….this previous minnow explorer making small steps to become a giant in the making !
Ducks are lining up……still patiently waiting……but for sure it’s coming !
How much do you think MT/Flanks is worth out of interest?
IMO, MT & MT Flanks is definitely part of the asset sale.
Believe WK is going to a different buyer.
Three legal teams working - one for MT/Flanks, another for WK and the third for the development of the JV licences.
GLA.
It's all looking very good Rjc1, this is going to be truly amazing as they advance the Rosgeo JV areas to production after the MT and flanks disposal.
Nice chunky divi to all patient shareholders and on to the rest of the district there. Royalty divi payments from MT and flanks for the duration of mining hopefully as well.
GLA
Read it again , but a bit more carefully , notice the ‘interim’ word , that’s what tells you we’re still on track for the sale / part sale
Totally agree with you there Mac - MT and flanks are going.
I agree with you mac,
Sale of them assets alone and a nice new eurasia ship to carry on with our merry voyage.
Certainly crippz!
James and Konstantin here to do one thing -
"James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "The Board members are confident that Konstantin's experience, as the head of Achinsk open pit mining operations and as Managing Director of Rosgeo, augmented with my extensive EPC experience to manage turn key construction and commissioning will be important at Rosgeo JV projects going forward"
GLA