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Glad to see you are not concerned about the mining license but in the same breath say it’s not guaranteed. Welcome to the real world.
FYI…the document is right up to date and was updated in 2019 with latest EU mining law.
It also tells the difference between an Exploration permit , Investigation permit and Extraction permit which is the current process btw. Now EUZ had an Investigation permit which expired 15th Nov. not an Exploration permit. The document also refers to two types of exploitation permits which can be granted. The one being where you can apply for an exploitation license without a PFS and the other with. Please read it so you can understand. In addition in the Denerius presentation they talk about doing a Scoping Study in 2024. The problem I have is we have already paid for a Scoping Study which was delivered by EUZ some time back. Yes you will say that this Scoping study is to prove up a greater mining area but would the exploitation license not then have to be updated to include this ?
Yes, the MLA is in and we did not need a PFS to submit the application and yes you were wrong and again yes I think everything is going to plan regarding last years agreement with Denarius. I am not concerned about the MLA but I don't think is guaranteed. I also think the document you posted could be out of date. EMI and Denarius (who you invested in apparently) are not fools and I expect they have done their due diligence but at 2p I would suggest EUZ is valued at a price that the MLA will not be accepted and EUZ will be sold as a shell company like some other poster suggests. However, if the MLA is granted and the area of the resources increased then EUZ will multi-bag many times.
Fortunately my budgie is still alive :-)
https://s29.q4cdn.com/901583928/files/doc_presentations/2023/09/dslv-corporate-presentation-september-2023-final.pdf
PS….my canary died :-(
Chrisp….sorry about the smell….your post 26th Oct ….. When you have a MLA in it overides the expiring exploration license because the reason for receiving an exploration license is to complete an MLA. Additionally, you are now aware that you were wrong when you were adamant we would need a PFS first before the MLA. Everything is going to plan since the agreement with Denarius and may it continue.
What on earth is wrong with you ?
People who have sold out may well buy back nearer the time, its called trading. Exactly why these forums exist.
People dont "hang about like a bad smell", who on earth do you think you are...jeezzz
Bricks has the same rights to p;ost here as you, probably more rights given the years he held, the AGM and zooms he was involved in and his knolwedge of EUZ... not to mention the confidence he had here reflected in the size of his investment.
I for one am very intrested in what he has to say going forward..
I have never, ever said the MLA is a formality so please get your facts right. In fact, EMI might need to submit more information and even then nothing is guaranteed. However, when I sell out of a company I won't keep coming back like a bad smell.
After all we are talking about the same company that thought they could publish financials with a Jorc report and ended up delisting from the ASX. Now if you had bothered to read section 1.6 of the document I posted you will find that the MLA should contain a feasibility study. In addition if you read a bit further you will find that if the mining license is not granted….then investigation can continue until expiry date…..me worried ? Not at all ….however…You really should be because if it’s not awarded Toral is history as far as EUZ is concerned….For a lot of people and some of my friends who have invested here I am hoping that it is awarded by the way !!!!! But stop trying to make out it’s a formality as it definitely is not.
Chrisp…I don’t need your permission to post here. I am an ex investor who is still very interested in Toral. Can you name a few exploration companies in Spain you have invested in please where they have applied for a mining license not having completed a PFS and have been successful in the application ?
Why are you worried BricksSA I thought you had sold out? I have had many investments where the exploration license ended but the analysis still went on due to the MLA being submitted. You really don't need to worry yourself about these minor details anymore.
Https://rmis.jrc.ec.europa.eu/uploads/legislation/MINLEX_CountryReport_ES_2019update.pdf
For those interested in the MLA process in Spain.
Has anyone asked Myles how EUZ is operating at the moment as the exploration license expired 15th Nov 2023 ?
I don't think i have ever seen a share with so many "corrective" trades. I always assumed small quantaties were MM's balancing the spread sheets but the stock doesn't have nearly enough trades to need to balance out. I would go so far as to say the trades under £10.00 are more than those over, most weeks.
I wonder what its really about here ?
My own opinion is that Denarius will want to increase the footprint significantly before they take up Option 2. Yes it will mean a huge amount of money to prove up for the PFS but it will be worthwhile because they will own 80% at the end of Option 2. Mean while we have £2,000,0000 + 20% of a much, much larger mine. I am very pleased with the progress of last year and these next 15 months are about enlarging the resource possibilities and getting the licence through to acceptance.
Sure, we have to remember that for roughly half the results period Denarius weren't shouldering the costs so looks steady. I have been disappointed that the enlarged mining area hasn't materialised in the last year but they have reiterated the intention "As part of the agreement the parties have also signalled the ambition to secure potential further concessions in the surrounding Northern Spain region therefore expanding the footprint around Toral", so I'm encouraged that the aspiration hasn't slipped off the radar which I always saw as a key upside of the deal but for market recognition we need something concrete.
They're increasing the area hopefully so Toral could be a considerable deposit. Cash burn reduced ďue to the separation of EMI.
Yes well done springboks
I have to say in my day as No.8 the call of "ball not straight" by the ref was common in scrums and you put the ball in for your hooker to hook back. I cant help thinking the modern scrum is just a device for trying to get the opposition to drop a penalty rather than a method of restarting the game .
If you are going to throw the ball in the side so it comes out the back without anyone even touching it ? well its sort of makers the scrum redundant.
Maybe I'm just getting old :-)
Thanks Shed !!! :-)))
....... to our JSE contributors.
Evening CHRI5P my only surprise is that Denarius want another campaign before the PFS, still it will only strengthen the metrics and after all they're paying for it! However nobody should be surprised at the ongoing exploration in general as that will continue as long as a resource exists to be defined. Exploration doesn't cease on most licenses even when production commences. We've had an economically viable resource for a while now but that doesn't mean you stop drilling, the more information we can extract the better the mine plan will be informed plus the more indicated and hopefully even measured the better the banking terms will be.
Bricks
They found gold seam a couple of years ago and have been mining it in secret under the guise of "exploration drilling" ever since. Didn't you know that Myles middle name is Bullion de beer ??
BricksSA I don't know what you're going on about. If you have read any of the RNS's about the agreement this was part of Option 1. When you have a MLA in it overides the expiring exploration license because the reason for receiving an exploration license is to complete an MLA. Additionally, you are now aware that you were wrong when you were adamant we would need a PFS first before the MLA. Everything is going to plan since the agreement with Denarius and may it continue.
Shed the extra drilling was a bit opaque in the agreement along with increasing the area but Myles confirmed on the podcast it was to increase the deposit for the PFS which I did take for granted.
19-Aug-20 19-Aug-20 Placing Myles Stuart Campion 12.75 GBX 78,431
Yes I agree and he should be telling the public how he will will get this SP back to 12.75 p again….which it was when he bought some !! But hey…he enjoys exploration so much he is going to drill again in what he and LR called Toral …. A pin hole cushion in 2020…..that’s how much drilling has taken place already at Toral…..yet alas….more drilling to come in 2024 and again in 2025……seems like he will get his wish….another exploration license extension on the cards .
We should have sold everything to denarius for a higher price.
If they had an asset for £15,000,000 would be a bargain IMO
Cjen
You may well be right but this is a company that took the original SP of 20p down to 1 hundredth of a penny. yes there are 97 million in circulation now but that's after a consolidation of 500/1
500 x 97000000 = ?
My point is private investors drive the SP up
Corporate drive it down ( as they usually buy at a discount from which the SP doesn't recover here)
Dont think MC is beyond another placing at a discount before this takes off to let DB and others bring their ave down. You have seen it before, money raised at times when it wasn't needed, at the lowest possible price. But they are fully financed you shout !! Dont worry they will find a reason like this long awaited new project they are "actively" looking into.....Maybe you think EUZ will just become a holding company for 20% of Iberia ?