The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@ Bobby....at where it is today I think we all paid to much !!! and this after doing our homework and own reserarch...However having said this the asset has not changed ...in fact it has been proven up more and even further derisked.... so averaging down and buying more at these low bargain prices is a no brainer imo :-$ DYOR.GLA
Bobby, I understand your frustration if you have stood by and watched this decline from 0.3p to 0.016p, but surely if you still believe then you would buy more now at these low prices and I for one wouldn't pull you down if you was to try and trade them on the ups and downs to try and increase your holding for the longer term. I see Mcap before approx £7.5m and now Approx £2.67m so a hole of £4.83M. But raised £6m as you say to further increase the value which sadly as not materialised due to the SS balls up with ASX rules which YES, the BOD have to shoulder the blame. But what a buying opportunity now if you believe in the asset and LR and co to take this further.
But this is not about todays SP it is now all about the end game. What is an achievable sale price? Personally I will be happy with anything around £100m, as I am sure most would be here giving an SP of around 0.6p, not accounting for any options / warrrants etc, so everybody is a winner. Worth remembering the figure could be much higher, much higher but only a little less. Do the maths at £100m £150m £200m etc and this could be bargain of the decade.
GLA
Oil I wouldn't advocate salary cuts to push them into the realms of hardship. The Non-Exec's are traditionally supposed to push the shareholder's case in these sort of situations but small AIM companies being so intimate that is rarely the case. I suspect like myself being a Ltd company they would have to furlough themselves to get any government support as individuals and we wouldn't want that as there is desk work that can be undertaken during the crisis. I would advocate paying them a living wage with any accumulated deficit paid on achieving a successful outcome. Not holding my breath though!
one month is nothing in this crisis - there is nothing to worry about here
Nige - I agree it would make sense that surely they won't run it into ground. I just want to see evidence of the cost cutting rather than vague statements. Unfortunately AIM is awash with companies whose Directors have looked after themselves before their duties to shareholders. I'm certain that we can't pay these guys at the current rates into Q3 so want it RNS'd that wages have been moderated, I'm definitely not happy to sit around hoping they'll do the right thing.
I am not in the UK - but would Europa be able to benefit from the various stimulus packages that Govt's have announced in UK / Spain / Australia ? This might help alleviate any cashflow and operational concerns in the short term.
Shed 08.13 post, I don't believe for a minute that after all the hard work LR and co have undertaken they are going to let the company collapse under financial reasons. LR has spoken a lot in recent months about shareholder value and he has a lot of options to make himself a fair few quid out of this! I do however recognise your concerns but I firmly believe the board will be addressing these matters if there is financial constriants required.
It is now just a tick in time to the end game IMO.
Stay strong, and stay safe everyone.
I'm happy to admit that you called it right that there would be a delay, I was wrong it turns out. However the facts I put you right on were correct last week - that WA had confirmed to me that they were operating normally and that Spain is continuing to operate where business can be conducted safely in uncrowded situations. My angry reaction to you last week was because of the jibe that suggested I didn't think CV had reached Cornwall and that it was inappropiate to suggest that a drilling team could safely operate on a remote hillside. I don't take that back and as ever your point scoring goes too far.
Can understand your view Shed. Were all in the boat together sink or swim time.
Although i like the way things have gone recently , there is still that possibility all can go belly up.
These are unusual times for us all. Good luck to you , one and all
Nice to see the share price hasn't collapsed. Oh silly me, that only happens when we get good news
Manicman that is an admirable sentiment but I won't apologise for being concerned about my investment. We cannot continue paying the Exec salaries indefinitely, if they run out of cash and can't pay the bills, listing fees etc we're done. Unless they cut everything back immediately there will be no company, the asset is only ours as a solvent company - the mine could go is the bitter truth.
Shed . I think cost cutting is the least of the BOD worries....Human survival is a little more important right now....The mines going nowhere....
While my first reaction was cynical, after all I contacted WA last week and they confirmed that they were operating as normal, CV matters have escalated since. I think we have to accept that there is no way that WA would take lightly to being included in an RNS that was concocting a convenient delay. I think details of cost-cutting measures are required urgently.
Understandably, we are talking peoples lives here, if WA s in shutdown, I can understand the delay on everything, we are going nowhere as shareholders the resource is going nowhere take care everyone. GLA
Completely agree Cahus!!
World on its knees ....
On this occasion bearing in mind the world is on its need and Spain being among the most suffered nation, it is only fair to accept such an RNS wholeheartedly. Some things come before money and this situation is one of them. So their intentions when saying imminent was Honorable but factors beyond their such Cov19 and lockdown cannot be ignored. I am behind the bod on this one. Am not selling as the fundamentals had not changed.
Guess thats why imminent became shortly ? Lol...anyways guess another few weeks will pass soon... GLA.
To be expected, I guess.
April is around the corner...
Second Phase Metallurgical Test Results for Toral Pb, Zn & Ag Project, Spain, Delayed to Early April 2020
Europa Metals, the European focused lead-zinc and silver developer, announces an update in respect of the second phase metallurgical testwork being carried out on material extracted from the Company's wholly owned Toral lead, zinc and silver project ("Toral" or the "Toral Project") situated in the region of Castilla y León, north-west Spain.
Due to the impact of the coronavirus (COVID-19) pandemic, a delay has unfortunately occurred in completing the last metallurgical laboratory test and consequently also in transferring the data to Wardell Armstrong International in the UK. Once this work has been duly completed, now anticipated to occur in early April 2020, a full metallurgical report, encompassing flowsheet optimisation for concentrates and a breakdown of deleterious elements, will be obtained by the Company and its findings announced to the market.
Laurence Read, Executive Director of Europa Metals, commented:
"The Company has unfortunately encountered a delay to the completion of the last test for deleterious elements required for the finalisation of an updated independent metallurgical report and publication of its findings. Whilst this is frustrating, given that we had scheduled completion by the end of Q1 2020, we would like to acknowledge all the efforts of both the laboratory team and Wardell Armstrong International in seeking to conclude the work by early April 2020 during these challenging times."
For further information on the Company, please visit www.europametals.com or contact: