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Ian, i have a different problem with my old posts, LSE seem to change the link addresses to RNS. I only noticed the other day when i was following my own post and trying to follow the links to the RNS and they wouldn't take me directly into the RNS.
A little annoying perhaps, but it is what it is i guess.
LB28, i wonder where that person is these days, i can't recall seeing a post from them for quite some time.
All the best to you Ian.
GLA
Hi, Mac,
I totally agree with you, it was an old and outdated post of mine that I had to hand to give some idea to newcomers, and thank you for updating it.
Please keep up your good work and as I say it was your posts of old along with LB28 that piqued my interest with this great stock in the first place.
All the best Mac.
Ian
Good post Ian. Just a slight correction, so new guys/gals don't get confused. The company now currently anticipates a 20 year mine life with a different output level.
I presume it is MT you were referring to with this - "One of the company's mines has circa 2M oz of PGM's, more in the to be added flanks and with only the current low mining output, the company anticipates a 16-year life of mine producing 125,000 oz’s palladium equivalent per annum" :
"MONCHETUNDRA
A fully funded development project; with 15moz palladium dominated PGM resource, it is one of the largest assets globally not owned by a PGM major.
Asset overview:
Ownership: 80%
Operating Partners: Sinosteel, Central Kola Expedition
Region: Murmanskaya Oblast, Russian Kola Peninsula bordering Finland.
Mine type: Open pit.
Licensing: Mining license to 2038. Financed via Sinosteel EPCF.
Status: Preparation for production.
Product/Offtake: PGM and base metals concentrate (Palladium dominant, Platinum, Gold, Nickel and
Copper).
Infrastructure: Road, Rail, Sea Hub, Power and labour. Close to Finish border
Mine life: >20 years
Target production: 1,000koz at full capacity
Exploration upside: Expanding mineable reserve base via acquisition of adjacent licences."
https://www.lse.co.uk/rns/EUA/annual-report-and-accounts-sikzqj9pkwa6gdz.html
GLA
Hi Ian, what a great post! Needs to be framed and stuck at the top of the board and emailed out to every new investor here!
I, like all, appreciate the massive amount of research posted here but as a new investor it does get overwhelming as most contain so many acronyms it's like a foreign language at times! You've just summed everything up in such a good way even I understand it and makes me very excited for the future here whatever unfolds!
GLA!
Rowka previously posted a good article from the Moscow Times Archive which provided some good insight into the difficulties Eurasia faced over the years re developing their assets. Can't seem to find it now. Thought it was posted around beginning of Aug.
Morning Ian
Great post
This Company, Eurasia Mining, started life approximately 25 years ago on the AIM market, this was a new market platform set up with the intention of empowering new startup companies with very small Mcaps, and to enable them to get good access to funding through various means, this market was somewhat abused by dubious companies and led to the platform to become known as the " Traders Paradise " where no serious investor would invest any large amount and certainly not for any length of time, it became known as the Casino for gambling, rather than long term investing, the mentality to Buy on rumor and sell on news, good or bad was the norm, most companies did not last long, and if they did, most shareholders were massively diluted by cash raises and trapped underwater.
EUA tried its hardest to be the exception to the rule, it was a long struggle to gain all the relevant permits and mining rites, and the directors and senior staff believed in the company so much that when the cash position was so low they might have folded they accepted to take shares at par in lew of pay, and have continued to purchase more shares along the way, one to the tune of £50,000 last June.
The Company has now turned the corner and proved it has vast resources within its acreage, and surrounding flanks, is in the enviable position of being 100% fully funded, is growing organically and self-funding, has cut out the subcontractor at one mine and now runs as an owner-operator gaining a 75% margin since last September. The value of the PGM's mined has recently gone through the roof and is continuing to do so, palladium going for approx $1900 per Troy oz.
One of the company's mines has circa 2M oz of PGM's, more in the to be added flanks and with only the current low mining output, the company anticipates a 16-year life of mine producing 125,000 oz’s palladium equivalent per annum, Assuming a 20% discount (for the smelter) and a long-term palladium price of $1,900 oz.
125,000 ounces ($1,900/oz 80%) = $190 million revenue per annum.
This minable output is due to be increased and ramped up in 2020, the company if it does nothing and just carry on just prints money going forward.
The company finding its self in this enviable position has engaged two world-class banks to monetize this position.
Either company sale or assets sale, whichever, we are currently way undervalued on fundamentals.
Why is this? We are on AIM, where the share price merely reflects sentiment rather than indicative value, that's all, and indicates to me with the facts laid out that the market does not as yet have a grasp on reality with what the true value should be for this company.
The board and senior management are perfectly aligned with shareholders and want the best price going for this in a company sale. This share could be the bargain of the decade, I certainly think so. and with flanks approval just around the corner, who knows what this could go for in a full company sale... :-)