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Wait until the first week of November - or December, when the second, yet smaller, tranche hits the market.
Why not wait until the placing shares flood the market - no reason to buy at present at 30% above the placing price
Bricks - agree it doesn't make sense... prices being paid well above the supposed placing price... although it is still an opportunity to average down if you are underwater.
Assuming we think the company is still sitting on a future mine....
I'm hoping and praying for an RTO next year. Cash shell new company new direction and forget about Toral. Only way to hopefully get out of the negative.
Quick question: Is the second tranche in December also to be at 5p (subject to the approval at the AGM) or would that be priced according to whatever they feel like at that point?
Thanks
T
Can’t understand why people are buying even in SA at this price when we should be able to get them at R1.01 on 1st Nov….have I read this correctly ?
Bricks, You’ll get my vote.
So what are we to think about funding for the PFS ?
Previously it’s not been stated as fully funded and this new funding is apparently going elsewhere…As owners of the company, I believe that the board (who work for us ) have a duty to clarify.
I suspect Grappa that they'd say it wasn't promised and that as a strategy it is still what they are pursuing. Having said that I think we pretty much all agreed that once a couple of months had elapsed it was ill-judged to RNS the possibility that something was in the pipeline and then not deliver. Strand Hanson should have advised them not to include it IMO.
try cobr resources 22 gold prospects 6 iocg targets 5 mill mcap drilling end of month
I would happily support that Bricks. Needless to say there won’t be any Director buys forthcoming, even at this whopping discount. I fear it’s all a waste of time though now. I’ve made some terrible choices over the last couple of years (ZOE, GDR, TILS, POW & and VDTK - also EUA but I did actually do fairly well there for a while) but nothing beats this pile of rubbish.
a very reasoned post Highside. Extra funding was always required, although the heavy discount is a bit of a surprise.
If there was any short term good news surely they would have got it out before the placing - that's the way these things work.
I lost faith in EUZ many months ago and sold out at about 12p (at a small loss).
I think the biggest issue is that Toral is quite a small mine so some of the larger players aren't interested. To make it interesting they need to keep proving up the resource and this costs money. There is copper down there, but after multiple drills it has still yet to be found.
What was most disappointing with the placing is the explanation as to what the monies will be used for. There doesn't seem to be a clear plan. Hopefully it will come good, but for now i'm happy to sit on the sidelines
me too I will support that Bricks. The promise of a value event has misinformed investors.
tsbs
As i have said before they are a 1 trick pony, if they sell Toral then EUZ has nothing and they are paid by EUZ, in short if they sell Toral they put themselves out of work. If however they had expectations of toral actually being worth a fraction of the speculation i doubt they would need to work again anyway so that doesnt bode well.
Good luck with that Bricks and i will support you but remember i told You, shed and Crisp and Money exactly what was going to happen and i got filtered by the lot of you. So much so that i had to change my name to be heard . Nearly all the hope here was generated on this board with talks of "raining money in the EU " and countless irrelevant links to funding that had nothing to do with us.
The four of you basically made the board closed shop and shut down an opposition. Now you blame LR...lol In actual fact LR has been pretty spot on in everything he has said. He has been playing this down for years. I dont agree with his tactic of putting all his eggs on the final outcome but 90% of the expectation was fuelled on this board.
Had you even thought about addressing the issues i raised after the last placing when i said that they would raise again with similar dilution (as they now have) and pushed for a different form of funding we may not have been in this position now.
Only 2 weeks ago i said they would have to raise at a huge discount at 5p if they had any hope of shifting the shares, the damage however as i said to you 2 years ago is not in the SP, its in the dilution as once again the final prize will have to be split another 30m ways.
why would they be looking to other projects to further increase shareholder value ?
they havent increased shareholder value at all with their existing project...muppets
Effectively they have just under 30 days to turn this ship around if they want to keep their jobs. I’m going to be lobbying very strongly and will write an email to DB to assist and insist on getting them removed from office. I feel they have lied publicly at this point in time and are not fit for office of a public listed company.
I will be very happy to support you in that motion . Many investors bought shares on the promise of a Value Event that has not materialised and this is the second dilution since consolidation.
Will LR have the cojones to defend in an interview this bitter-tasting raisin’?
why are people buying this now , will be below placing price of 5p madness imo
Agree Bricks, vote of no confidence is our only hope. The alternative is rule 15 RTO in 6 to 8 months when there's no coin in the pot.
props…I’m with you. I think their integrity is now really open to question. They cannot be trusted at this point. Unfortunately I, like so many have taken their word to be truthful….this does not appear to be the case here and now. Knowing them however, I still have hope that the value event is still to come and would not be surprised if another RNS with some good news is published shortly before AGM….otherwise I am going to call for a vote of no confidence in this BOD at the AGM.
Unfortunately this day was always going to come it was just a matter of when. Bet DB are well happy if they haven't managed to offload what they got last time at circa 12p.
Must be the value-event that he referred to - months ago - but only for the money-men who broker dilutions. Is LR to be trusted in anything that he declares? For how long has he been running this project - without realising any value? Is there a long-term future for EUZ - without dilutions for drilling and for supposedly adding value and schmoozing the junta? And who said that we were fully funded until next year?
This is exactly what i have been warning about, its not really a great surprise and the reason no one has been investing here for the last year. Lawrence stated years ago he was not interested in the day to day SP, that should have been the alarm call because as i said at the time , if you rely on placings to finance ,then the Daily SP is all important. Pretty basic stuff but just something he couldn't grasp.