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Thank you mrY it's nice when we have the answers to their questions/mistruths so appreciate it!
Sorry but I don't like misinformation being left open by a certain poster.
It's a case of repeating things that don't seem to sink in with some people.
The EPC contract with Sinosteel and the sub contract are funded by Sinosteel until the production plant is up and running to set levels. Up until this point all the cost and risk remains with Sinosteel.
So the £46m cost to EUA that PATT is talking about that occurs in the 2 years it takes to build the plant will not happen.
EUA takes on the debt only when it is producing and turning what is substantial profit on production.
The production at MT was again going to be contracted out as it previously was at WK.
EUA is essentially an exploration company that has become a mining company to some degree through need as it adds value to all it's assets. Russia doesn't like assets like WK left proven as minable but unmined.
I doubt the plan was for it to mine it's assets but it was done through contractors to take any risk away from EUA while it added extra license areas and proved up reserves and resources which they would have been looking to sell on.
Added to the BOD recently is JN, a man who understands and is very experienced with mining and is very capable of getting MT up and going and I doubt with any contractor as I expect it was him that has been responsible for sacking the WK contractor and changing things so all areas can be mined at WK going forward raising production considerably.
I fully expect him to move to any company that buys us out.
Mining licenses can be extended and PATT even posted an example from Highland Gold.
Interesting perspective on the perceived Rusian risk!
Please take note - Purchase at the top...
? Eurasia is now debt-free. In September 2018, the final settlement of a $522k loan facility (the
remaining balance from the initial $1.25M) was completed by conversion of the outstanding amount
into shares. This means that Eurasia’s balance sheet is now debt-free.
? Monchetundra is a different beast. We believe that Eurasia has a compelling competitive advantage.
The project is a relatively simple open-pit mining operation with conventional processing technology to
be used to produce a PGM concentrate. Despite the market perception of “Russian risk”, we believe that
Monchetundra offers a much lower risk profile than the majority of other PGE development
opportunities globally.
? Perception of Russian risk overcooked. Our view is that any inherent risks of operating in Russia are
“overcooked” and in any case more than offset by being a fully-funded, simple open-pit operation.
Furthermore, the permitting process for both West Kytlim and Monchetundra has not been impeded.
For investors, exposure to PGE mining is typically through South African assets, reflecting the
considerable reserves in the Bushveld Complex of South Africa. However, the majority of PGMs
extracted from South Africa are from underground mines, typically at depths from 700m to 1,500m.
Consequently, many South African PGE mines are highly capital intensive, not to mention that it can
take several years to sink deep shafts and put in place the underground development required for
commercial production.
? Major mining companies operate in Russia. Several major mining companies have operated in Russia
for years and continue to operate without hindrance. There have been no high-profile expropriations
or enforced disposal of assets. Kinross for example has operated in Russia for 20 years and currently
operates too high-quality, low-cost underground mines – Kupol and Dvoinoye. Numerous large
international precious metals companies operate in Russia including Polyus Gold, Polymetal, NordGold,
Highland Gold Mines, Petropavlovsk to name but a few. Evraz, the major steel producer has a large
asset base in the country.
? Investment attractiveness. Russia is a major producer of commodities, e.g. the country produces 38%
of the world’s palladium and 30% of the world’s diamonds and is the second-largest nickel producer.
This means that Russia actually ranks fairly highly on the Fraser Institute investment attractiveness
index which also takes account of the country’s high geological prospectivity and track record of
permitting world-class mines into production.
That should give him a Gobstopper to suck on..
I didn't, it's what came up in google along with:
13/6mm galvanised staples
Friday the 13th Part VI
13 X 6 GARDEN SHEDS
I don't recognise that Genesis song...
Genesis 13:6
"But the land could not support them while they stayed together, for their possessions were so great that they were not able to stay together."
Means partial sale of assets, it's obvious ;-)
That should keep him busy for a while!
https://drive.google.com/file/d/1yqPbKFozHsxnf7W0M8Sox06tay18ipYN/view
Plus update:-
https://drive.google.com/file/d/1LRuZApmtUfJjStgIxfoxasuWmjzTASqC/view
+
https://acfequityresearch.com/wp-content/uploads/2020/02/Eurasia-Mining-Plc-MA-Valuation-FINAL-ACF-03022020.pdf
+
file:///home/chronos/u-1ab96a4d39e48a315062ff46cdcc146873d94ec7/MyFiles/Downloads/EUA%20Presentation%20Sept%202020.pdf
+
Have a good day!