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Christian Schaffalitzky, Executive Chairman of Eurasia, commented: "The Board remains focused on maximising shareholder value, and, after receiving approaches from multiple parties interested in acquiring the Company's assets, has decided that launching a formal sale process under the Takeover Code is in the best interests of shareholders, which could result in a sale of assets or the Company. The Company will work with UBS and its other advisers to execute the process."
Come on Eua!!!
Yes, the covid dynamic will of brought an increased interest, companies have to guarantee supplies to their customers. One way to do that is to target open pit resources, which are safer to work due to the ability to socially distance.
It's not just right now they are thinking about either, it's the future, any other possible waves and any other possible pandemic threats. The whole thing is a big eye opener for everyone tbh.
GLA
I’d have to agree Mac it does make sense, his previous experience is invaluable. I know if I was CEO of one the company’s who had shown a prior interest in Eurasia and it’s assets, I’d certainly be having a quiet word to my fellow board members advising at least showing an interest again.
The Covid situation may have completely changed things around, as if they wasn’t interested before I’m pretty sure they will be now.
A EPC to suit this new mine life and production target dynamic -
Mine life: >20 years
Target production: 1,000koz at full capacity
GLA
They brought him on board for his experience Musso, as per RNS -
"In the Company's announcement of 16th September 2019, it was noted that the appointment of Mr. Nieuwenhuys to the board would only occur if a potential transaction with Lesego Platinum was to progress. The Company would like to reiterate that there has been a change of approach at board level, and at this stage, there is no intention to enter into any arrangement with Lesego, although both companies continue to keep this under review. Instead, the Directors believe that the experience of Anthony and his contacts, especially among PGM and gold producers in Russia, China and South Africa, could be beneficial for the Company as it continues to explore potential options for the Company's assets including a potential sale of the Company's mining assets. However, as previously stated, there can be no guarantee that any transaction, with any party, will occur."
It's quite plausible he was brought here to look at the resource with flanks and make a new EPC plan which would maximise potential ebitda, therefore maximise potential value.
AIMHO
GLA
I would be amazed if Lesego are not one of the bidders.
They’ve done their DD a while back, James has held positions at a number of EPC organisations so will know the costings to set up etc.
And finally South Africa mining is in turmoil.
The ebitda mentioned is per the original production volume target, if you look at recent RNS, that MT production target has changed several fold.
Again, a new EPC may be under NDAs, no one knows, but the new production target is there for all to see.
"JAMES NIEUWENHUYS
Non-executive Director
James has held senior positions including Chief Operating Officer at Polyus Gold, Russias largest gold miner, and is currently Chief Executive Officer at South African Lesego Platinum Mining Limited. James has an engineering background and has also held senior positions at a number of EPC organisations."
!!!James has an engineering background and has also held senior positions at a number of EPC organisations.!!!
GLA
I've read it many a time. Have you noticed that quite a lot of what Aleksey Churakov may have said has been removed -
”he said. In his opinion, given the company's resource base (including on the flanks of licenses) in the amount of more than 15 million ounces in palladium equivalent,
It comes to an abrupt stop, with no finalisation to what he was putting across. NDA sensitive perhaps.
GLA
https://www.kommersant.ru/doc/4221391
Needs translated, use Google crome
That's what we like to see, nice sector deals to accurately bench mark against -
Look at the sale RNS, bench mark the resources here to previous deals in the sector.
That's where you will get the most accurate picture of what is happening with the potential asset/s or company sale -
Stillwater for c. US$2bn by Sibanye in 2017
NAP for approximately CAD$1bn by Impala Platinum in 2019
https://www.miningmx.com/news/platinum/38824-how-does-implats-lac-des-iles-stack-up-against-sibanyes-2017-stillwater-deal/
GLA