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I really do believe that the company with the new investor on board like UFO was, will now be more proactive rather than un-active with news.
Tweet today
@LtdEuropa Following successful AGM Monday team onsite at Toral Pb, Zn & Ag project, Spain- Q1 targeting resource drilling supported by Govt Innovation loan. Objective to build value in 22 from Toral & potential near term value projects.
Let’s see what near term value projects are. CDTI could be part of it all a mystery still but largest volumes of trades we’ve seen in a while.
Ok let's see if something ut I won't be holding my breath. Every week and month that an acquisition isn't announced is another week or month we've burnt through working cash flow... let's see how this pans out.
As i said before MFM buying an asset or something thats producing could be worth 5 million so you spend 1.5 million for something thats worth 5 million in assets therefore you can get asset finance of upto 80% on that 5million.
https://www.businessesforsale.com/excavation-civil-construction-company-for-sale.aspx
This company is up for sale for less than their turnover something like this could actually be valuable to get the money and complete the PFS for toral.
I agree grappa, on the one hand they're saying we can't afford to finish the PFS but at the same time they've raised money for an acquisition. In what world does that make the slightest bit of sense?!
If you have one asset and know that getting the PFS makes it that much more likely to be partnered or sold AND makes it much more valuable why would you then use what precious funds you've raised to pursue buying another asset?
I feel like I'm in some sort of parallel universe here with the posts I'm reading from some. Those wearing the rose tinted specs can you answer that question? How does it make the slightest bit of sense?
If you answer 'ah well perhaps there's another deal being negotiated' well that could make some sort of sense BUT we've already had one deal fall through apparently so who's to say that another deal (if such a thing exists) won't fall through?
And related to this point is the mention once again of a 'value event' in the last RNS which must have been after the deal fell through. You can't just leave that there unless there is another deal being negotiated but again, it would be complete folly and madness to purchase another asset until ink has dried on a deal.
As with everything EUZ any communication from the company is so vague as to just throw up a dozen more questions.
I can see no justification at all for buying another asset unless and until we have a black and white RNS stating that Toral has landed some kind of deal.
Yes MM can't argue with that, the PFS is a big flaw and without it the sale/JV will go through at a fraction of the price it should. Someone will benefit but not us. There's lots of rose tinted glasses on here under the impression we are going to multibag!
I hope for them it does but I simply cannot see it. Why on earth do they not want to spend the new funds on this beggars belief. I wonder what Wardell Armstrong think of all this.
Thanks to cjen and numpty pi even though cjen chose not to acknowledge my questions or ask them.
No confidence in this BOD at all. We might stumble over the line eventually but it will be despite this BOD rather than because of them.
A supposed deal that fell through and we have no idea who it was with. ARS had a deal that fell through earlier this year but they told the market who it was with, so it is allowed and done by many companies. Announcing that a deal was possible could have seen a far higher share price for a raise. Why did they not announce this earlier in the year and raise off the back of it? Yes we'd have been hammered after the deal fell through but we'd have raised at a much higher shareprice with much less dilution. The shareprice has been hammered anyway!
Could it be that they didn't announce the company involved because there was no company or no deal? If there was a deal then they really missed a massive trick to avoid diluting us to the degree we have been.
Then there's the current funding issue. Money left for 12 months they say, presumably IF we don't acquire another asset. If we do then 12 months is fanciful and acquisition is their stated intention.
No mention of Adam Habib or what his remuneration was. No more detail around said potential acquisition and worst of all the PFS is NOT fully funded. We all remember the rns what was it now? 18 months ago? Where they said we were funded for all the major parts of it, which immediately set alarm bells off for me and I posted a comment about it immediately on here. 18 months later and another shambolic dilution and we're still not fully funded to complete it!
This management are inept. I can't believe only 20% of shareholders voted. Shame on the 80% that didn't. You'll get exactly what you deserve over the next 12 months if we're around that long!
thank cjen
The value event was probably fictional to eventually get the placing away now its mysteriously gone and dead in water
Would take with a pinch of salt everything these clowns in charge say from now on
It was great to meet you in person Numpti and have a stroll around some of the London sights after the AGM. I share you views and concerns about EUZ but will also be holding onto my shares to see what develops now that we have Bennelong onboard.
cjen
Highside, I do feel like my head is going to explode and yes full marks to Cjen. I'm not shooting the messenger and as stated before my gratitude to Cjen for all the hard work and coordination.
If anything I have far less confidence than I did yesterday and would not part with another penny of mine on this stock. The trades say it all anyway, there is no renewed confidence in the market after the AGM.
Grappa
You are banging your head on a brick wall
They said they were funded for the major PFS components a year ago, they said they would do a PFS in the hope they wouldn't need a BFS
They say they are funded for 12 months but also still say they are looking for another project ( so will not be funded for 12 months) they didn't explain the logic behind another project ( strategic direction) while admitting they cant fund the PFS for the project they have let alone another project, None of it adds up as we have less than half the story
Full marks to Cjen for trying but i dont feel any more enlightened than i did yesterday.
Toral looks like rattling on for another year or till they run out of money again and no mention of funding for a new project or even what that might be. The only ones guaranteed to make money this year are the BOD again.
The BOD has survived because of PI voter apathy and little else. shame they didn't survive on Merit.
Numptypi, you said:
"Do I believe that this will become a successful mine, yes even more so."
At what cost, when and more importantly for who? Without a PFS it's going to go very cheap and you and I won't see a return on our investment. Yep whoever buys it will have a very successful mine that we as EUZ shareholder won't reap the rewards from.
I'm baffled that they now say we're not funded for PFS but will do this fag packet version. Is that because they have only secured enough funding that DB are willing to give? Surely if DB were confident they would invest for PFS to be completed? OR is this last chance saloon where they have said take this, sell Toral and get my money back.
I also attended the AGM and would like to both thank Cjen, and add my personal comments …
I have always been impressed with the geological work that has been achieved at Toral, following discussion with Myles yesterday my confidence about the significant achievements on site has only increased.
I spoke to LR about an additional acquisition. I said that I personally have grave concerns about taking away focus from Toral, let alone funds. When I said that the idea in my opinion has not been successfully sold to other investors he replied that he has taken my comments on board.
Do I believe that this will become a successful mine, yes even more so.
Do I have still have concerns about the medium term finance situation and share price, yes I do.
Do I intend to buy hold or sell, hold.
Numpty pi