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Faustein can you please drop the fundraising BS.
It was ridicules 2 years ago when the SP of EUA was around 0.4p with at the time with 1.9 billion dollars of proven resources at MT. However, that is AIM exploring too small for the II's and the PI's don't get involved unless it doubles. The management knew what they had and in insight this was obvious looking back because at every stage in the last five years they bought into placements, issued options and were paid in shares. This is a clever and patient BOD. I bought back in yesterday for 100,000 shares because the RNS 2 weeks ago was very positive but not the one the impatient PI's wanted. I think I said on here that the SP might double but it didn't and so I just had to get back in yesterday. I am not going to predict the SP again but I do feel extremely positive. The reason I sold out was due to exposure to AIM mining but was able to top slice a few AIM shares last week to buy in here again. Have a good weekend and the largest game of poker is still in play.
SP could move either way on Mon. Normally, with fund-raising in prospect, you would expect a dip. But if the market scents a serious bidder being flushed out, it could rocket. A trading opportunity for the hardy.
Agree - a last opportunity for a serious bid to be made. Linking up with the Japs will worry the Chinese, but will it be enough to stir them into action? Some bidders will regard this as another negotiating tactic.
Personally I think the bidders are under-rating our board. And I prefer the no-sale option - delivers best value and saves on CGT.
Hi All, if EUA is sold then for it to be agreed, the deal would need to be voted on by the shareholders. Could that item be added to the EGM?
GLA
The BOD and the advisers have played an absolute blinder with it all Aviz, every move is calculated to extract maximum value. When you look at the entire picture, it makes you wonder how this was just a tiny little AIM tiddler floating around at one point doesn't it. The entire time they've been sat on the mother load, a PGM and battery metals district.
GLA
If I was an offerror, I'd either get the hump and walk away, or get my ducks lined uber quick, and stop this accelerating value ASAP. My guess is the latter.
What could have possibly slowed that stage down, didn't NN take around 30 days to win a previous bidding war?. We can not know for certain, but look at how the picture has developed since the 8 week marker passed, chunk of value adding bait after chunk of value adding bait. If we're excited, can you imagine how the parties who have full acquisition offers in are feeling?
GLA
What does next week mark, how much news have we had since the 8 week marker passed, we've had quite a lot haven't we?
"14th Jan 2021 7:00 am RNS Update on Formal Sale Process"
DFS, Rosgeo JV, and everything on Friday has landed between the 8 week mark and now!
GLA
Avizandum, i agree. The BoD will have the option to raise via rights IF they choose to develop the new 9 assets with Rosegeo. That may come after the FSP imho.
Some question why they called an emergency meeting and if KOLA PGM is also part of the FSP? It may be but if they were to go the development route, why would the BoD wait till next AGM to get the ball rolling. Japan will help bring KOLA to development with an off take agreement.
Lots of ifs and buts but 1 thing is certain, there's huge demand out there for our assets and our expertise.
The FSP is nearing conclusion. Just remember, the BoD have a lot in this and will do what's best for us. GLA
They just put pressure on the bidders..
Don´t forget the initial thoughts..a full sale
Due to the Rosgeo deal we own more but they will not sale MT to mine those 104 Moz:)
We are close at the end of a full sale at the right price for our BOD..those 104 Moz gave us the chance to get the right price...win win for everybody and shareholders get the right price..end of story..all IMO
Aviz
100% agree.
I do not think we will see this EGM materialise, as I believe the sale will be concluded prior.
This latest couple of RNS s are to put Ians rocket, under the back side of buyers.
In the last AGM points 8&9 were not past due to Covid. Now these are the same points to be voted on now in EGM.
Why now and not in next AGM in a couple of months? IMO smoke and mirrors and there will be more added to agenda/vote. Also may find out MD change etc.
GLA
Hi again MAC
I think this RNS puts the potential offerror, kindly, in the position of having to firm up to binding. Once that EGM takes place, our options blossom, and any deal currently contemplated, could end in up the trash. That's why I say, there is now a long stop for any firm and binding offers.....the EGM. So do not be surprised, if we finally get a binding before the EGM.
Agreed, but it will send a strong signal to any current bidders that the BoD are not joking about mining it themselves, and moreso that the shareholders are happy for that to happen.
But will massively affect our bargaining position! Off the scale!
Think about the timing of it Aviz, the FSP and non-binding offers being progressed is not exactly a new thing is it, things have been going on a good while now.
GLA
Yes this leaves all options open!
As someone earlier said the the Russians like chess but I would not want to play this game against our BOD.
Hi Mac
The EGM will just give the authority to issue the rights..............not place into effect the rights themselves. So IMHO, the authroity by itself, won't affect the FSP.
As CAW has pointed out, they can't issue any shares while the FSP is going on, so decide yourself what that EGM could mean.
GLA
Yes it's possible, cash for the rights issue as shareholders would have a chunk of cash and free ride into the Rosgeo JV. It's certainly very plausible with what we've been given recently tbh.
The new director is essentially a direct link to Japanese investment and off takers, that would be handy for taking multiple JV assets into production.
All in all, Eurasia are in a massive position of strength right now.
WK will more than likely start processing this coming week as water begins to flow again as well.
GLA
It would give every single one of us a free ride as no one has ever paid 50p for their shares.
That certainly could be a possibility, it does not sound like EUA will disappear but rather grow. Sale of MT to give divi. (min. 50p please lol) and remaining cash to help fund the Rosgeo JV. GLA
WOULD IT BE A POSSILBILTY THAT MT SELLS FOR A 50P DIVIDEND
AND WE KEEP OUR SHARES GOING FOEWARD GIVING MANY SHARE HOLDERS
A FREE RIDE GOING FORWARD