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The knowledge we do have, as stated in the Sunday press, is that the western economies are desperate to prevent the total monopolization by China of the very materials we hold in abundance. The eventual ownership of our company will be critical to the prospects of western manufacturers who are, to a large extent, subject to the agreement of the Chinese making make these essential commodities available. There is only so much of the stuff, no one is going to get all they need - and it's only going to get worse as demand increases.
The value of this company, imo, is strategic - and way beyond the price of the metals. All I know is that our investment is being managed by experts and we can have confidence in them to get the right price for what we own.
Crabby - i may be wrong, but I believe 4 of the 9 assets which are proven are located close to MT and they could be packaged into a sale of MT, therefore being consistent with the “cornerstone” comment.
EUA then focus on the other 5 assets and keep WK as a cash generating asset to provide the funds required to work on these JV assets?
“ We are also committed to the concurrent development of the Company in two PGM districts: in the Urals, where we have recently had our DFS and Technical Project approved to expand volumes with 3 plants in production this year (as opposed to 1 plant in previous years); and in the second district of Kola, where we concluded the Rosgeo JV to significantly expand our presence both in PGM and in battery metals segments. The Board has a strong confidence in our opportunity to create a globally significant PGM and battery metals producer that can be achieved through our Rosgeo JV".
That says to me that we are retaining WK and (some of) the JV assets. Everything else will be sold and that is the significant asset sale, as the WK assets and JV options have relatively small value. Almost all of the value is in MT.
Could this be the week for another update ?, Not one poster,ii,mm,or financial institution know when ,what & how much will be in Pipers envelope, however whatever combination Jv ,Japanese consortium, full sale , etc very content with my investment & a prosperous conclusion , best value for shareholders was mentioned somewhere ....
Monday is always a classic day for fresh bot hatchlings infesting this board with naysaying waffle .
This part of the RNS "We are also committed to the concurrent development of the Company in two PGM districts Urals and Kola" So how can we do this if we have sold all the Assets?
is saying that EUA will continue with the development in case the sale falls through. It's also a message to the buyer that EUA is quite willing to develop the assets themselves, so don't try and re-negotiate/under offer/ask for a discount.
Mac, that’s actually what I was saying. Having the market value of the company plummet because you’ve sold-off all the assets wouldn’t be considered shareholder value.
On the ‘same or more than the $8.3m EUA has already invested’. That is just one of a number of mechanisms to value the JV. The “or more” could be $10m, $100m or $1b+. It would been a bit ignorant of me to use an actual figure though.
As I say, my personal belief is that the JV will be retained, purely on the issue that if indeed all of the assets are sold, EUA would become a shell with no value remaining, unless there are other assets that the BoD have their eye on.
Money, that would not be creating significant shareholder value from the JV assets, something which they mention wanting to achieve throughout. At this stage, the only way to create significant value from the Rosgeo JV is to progress through the earnout structure and gain the 75% of the assets. Then Eurasia would have JV assets, at this point in time they don't have any JV assets, just an option to proceed through the earnout structure. The JV is like throwing the cat amongst the pigeons tbh, it will have well and truly grabbed buyers attention that Eurasia have other things to be getting on with and have full support of the Russian government. Buyers have perhaps been dragging their heels a bit wanting a better deal than Dmitry has been prepared to give them, i see Dmitry as a very hard ball negotiator tbh, this whole thing has been expertly ran to date.
Hairy Harris - you were saying months ago you didn’t think a sale would take place? But you still linger like a bad smell. If you didn’t think there was going to be a sale and didn’t sell out I’d say you’re strategy is losing money, so yes may be worth re-thinking...
Surely if 2 assets are being sold, then less legal costs, 95% will be the dividend Company holding 5% for running costs, only once a deal has been agreed and committed to by the new JV partnership They would have to supply all the money to advance the new mines for a percentage Otherwise if not the cash, what are they bringing to the table? So our 75% of new Rosgeo Jc would be split say 50/50 in terms of profit but we get to keep the shares and substantial one off dividend That’s how I see this evolving anyway
Ultimately I think last weeks RNS outlined they BoD have received multiple offers, some for the company lock stock and barrel and possibly some for certain assets and even JV’s. Could be wrong, but they’re now working out which to potentially put forward to shareholder vote (if required) to maximise shareholder value
I admit, my own thinking tends to be inline with yours Mac in that the JV assets will be retained. Not on the valuation side of things as that’s a fairly simple hurdle. The buyer would just have to pay the same or more than the $8.3m EUA has already invested. I believe it will be retained as a dividend was specifically mentioned, indicating that it’s not a full company sale. Plus EUA is currently valued by the market at not far off a billion dollars. The market value would plummet if all the assets, including the JV were sold-off. Unless that is, that the BoD have something else up their sleeve that hasn’t been announced yet...
Because cjmarrit there are further assets to head into in both areas, JV ones at kola and they explored more of the urals back in anglo jv days. They could just sell Monchetundra at this stage, but the original bank rns has the statement in about disposing of both company assets, both being WK and MT at the time. We don't own anything in the Rosgeo JV so far, you can only sell what you own.
Its so hard to try and work out what is going on in the RNS. It all made sense at the start of the RNS until the directors bit and thats totally confused things. Especially one min hes saying about selling all the assets then next line hes saying about building in two districts "We are also committed to the concurrent development of the Company in two PGM districts Urals and Kola" So how can we do this if we have sold all the Assets.