The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
No probs Sheds...looks like all my posts are somehow being vetted....strange.
Fine understanding of this BB !!!
Same thing happens to me ...refresh the page and posts go missing...makes one think.
Sorry Brickz your post wasn't showing when I logged in, can see it now that I posted. Very interesting, so AH is a 'Special Situations Advisor' at Capstan. Well that could come in handy because I'll be in a special situation if my wife finds out how far down I am with these EUZ shares :)
Sheds...these guys specialize in bulge bracket transactions....and guess who is on the team ?
http://www.capstan-capital.com/
And it would not surprise me at all if these three objectives have not been documented in some form of NDA by a prospective suitor and are pre requisites for a deal of some sort....and the Corporate news associated with each of them will flow as they are achieved....
Details of the individual tranches are as follows:
a) Tranche 1: vests on the delineation, by an independent third party, of greater than a 4.5Mt Indicated Resource estimate at the Toral Project, reported in accordance with JORC (2012), exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023;
b) Tranche 2: vests on the delivery of a positive Pre-feasibility Study at the Toral Project with an independent recommendation for the Company to continue advancing the project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023; and
c) Tranche 3: vests on the submission of an application for a Mining Licence at the Toral Project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023.
I understand Sheds where you coming from. I was miffed with the last fund raiser as I was hoping for a rights issue which effect gives shareholders first bite of the cherry. I Romberg speaking to LR and the conversation was rather heated as he told me a rights issue was too expensive...Well now as a grown up company perhaps it will not be that expensive and long term holders will be protected. Many options ito non dilutive funding now I suspect. Far more than previously and also a further derisked resource and prospective suitors in the data room gives me a lot of confidence moving forward. I have no doubt in my mind we have a mine and a good business case....hence LR going full time now with EUZ. Interesting you mentioned MC being temporary Chairman....I honestly do not see this changing with the current watch. IMO better the devil you know....and I think with Adam on board he compliments the current team rather nicely and the skill set is there to take this to mine. And yes I agree DB is a very good ombudsman to protect LTH’s. I feel we are on the verge of some huge Corporate news which will overshadow the operations side quite considerably and will boost the SP more than any operational report has done in the past.Hang in there. Best D
Hi Brikz - funny how Pb and Zn have oscillated around the three year trailing average since the PEA was published. I admit we tend to get silver fever on here but I know I need to remind myself from time to time that the unglamorous plomo will be a much bigger earner than our silver even though neat funding solutions could come via the silver. From what I've swotted up on the NPV becomes more significant as a valuation post PFS which is why I'm wondering if a bridging equity raise might actually be a better option to get us to the PFS and BFS rather than taking on debt or letting the sharks in when we're on the brink of going to the bank independently. I just feel that LTH's having shouldered the risk for so long that we might be better served by a little more equity in issue rather than a deal that lets institutional investors in on pernicious terms to LTH's, ironically the much maligned DB may be an ally to prevent that having stumped up at 12.75p.
In the updated scoping study they used a 3-year trailing average metals prices of US$2,668/t for zinc, US$2,099/t for lead and US$16.5/oz for silver.
The NPV arrived at with these figures was US$156m NPV at an 8% discount rate.
The current price for zinc is $2788 per ton
The current price for lead is $2075 per ton
The current price for silver is $26.31 per ounce
Assuming LR and co meet their first objective (tranch one) of assuring a greater than 4.5Mt Indicated Resource estimate at the Toral Project, reported in accordance with JORC (2012) by say 16% which IMO is easily achievable ( I think Sheds commented previously on the low targets set) and only on the current price of silver....( lead and zinc are fairly close to 3 year trailing average previously used, the actual NPV should be closer to $175 million.
Divide this by approximately 50 million shares issued gives a share value of over $3....which is just over 2 quid a share....so you guys are not far off the mark. GLA
I really don't see why this shouldn't multi bag towards the higher ends of expectations but things need to continue going well in the field. The PEA didn't cause great excitement in the market disappointingly despite being a strong endorsement of the project so anything negative on the exploration side could have grim implications, but I'm not expecting that. I do think that anything from either Conrad or AH will cause a strong rise because we'll finally have proof that (equity) non-dilutive options are reality. However something will be given away either in terms of our asset or the burden of debt depending on how any transaction is structured. I have a gut feeling an impending deal is likely to be quite complex so (speaking for myself) I'm confident we'll see a positive market reaction while perhaps being left slightly uncertain of how good the deal actually is. This is where, for me, I have to just trust that LR & MC will do the right thing by shareholders and is partly why I'd rather someone like AH had been brought onto the Board. They must have their reasons for doing it this way so I'm trying to remain positive about the advisory role. Now if CB's seat is being kept vacant for a big name to come in that could really put us back on the radar, at the moment (in terms of new interest) this is beginning to feel like being the last hand aboard the Mary Celeste :)
MFM i am with you... its been a longgg wait.... there was a old tv program where you could choose between Money or the Box, gime the money and i am off!!! .... but i would like Trade's sell @ 50 000 000
Bobby right now I'd take 60p too! My average is 57p, would feel like a massive win after a long wait. Of course if we do sort proper funding out to take us to actual mining then I'd wait for a lot more.
I'd take the pound now every time!. The opportunity cost of four extra years is huge, plus the uncertainty that goes with it...
Seems a lot of optimism around last few days I hope it isn't misplaced. Until something positive is officially rns'ed I'll stay in the cautious camp. We've had many be overly, some might say naively optimistic before only to be made to look foolish weeks, months, years later...
Syntax, agreed.
A £ in the hand is worth 2 in the bush ...
Aucs, sorry to bud in, but I certainly would take any of those!! Unfortunately these are not the only possible outcomes? Otherwise the price would be there already. Perhaps soon though.. all is looking good at the moment. Some financing news with good ops progression would be lovely, thanks LR.
Trade, what would you take ? - £1 per share because of sale by year end or £2+ per share in four years time if we mine??
This is Jesus comments from the license RNS....bearing in mind it was an exceptional license.....seems like a year imo will be too long in the bigger scheme of things and the urgency to get this to mine.
EXCEPTIONAL EXTENSION OF THE TORAL RESEARCH PERMIT
Europa Metals is pleased to announce that it has received an Exceptional Extension for three years for the Toral Research Permit, of which it is the holder.
During this new period, valid until November 15, 2023, Europa Metals will prioritize all the work necessary to finalize the design of a sustainable mining project with development guarantees for the Toral project and present the documents that accompany the Concession application. of Exploitation, in the shortest possible time
Hi trade - bit busy to go back through the media but I seem to recall after the equity fundraising a year was mentioned for the PFS but that was when they planned to start drilling before Christmas. From memory that then became a more realistic 18 months from Autumn 2020 so perhaps a year from now (ish). Certainly in the Nov 20 presentation it describes completing the key components of the PFS as a 12 month target, so that would perhaps fit with a year from now.
Trade, whats the £35m deal? Have I missed something. Don't check the BB that much at the mo.
Jesús is a founding partner in Mining Sense so they should have got it right trade :) As there is plenty of exploration running room on the licence it is highly unlikely that the LOM will be restricted to 12 years though. I also think that an ore sorting facility could make Toral a reprocessing hub for the old tailings dumps in the region.
Shed, thanks. I understand a bit better now. I do believe good news is on it's way.. patience, patience, patience.. perhaps the next news will give is a major boost. Fingers crossed.
Hi Michael no perhaps I didn't word that very well. It would be great if the first drilling update moved the SP up and held the gain, it's just that I don't expect it too. I am however hoping to hear that operationally things have gone well but we'll just get something vague about the visual mineralisation and hopefully that they've wedged off, cores gone for assay, etc. Whether this XRF technology gives us any reportable interpretations of the mineralisation I don't know but I would guess we'll have to wait for the independent assays from ALS.
I dream of the day I don't have to worry everyday about my EUZ share. No one likes losing money and there are still risks here. I believe we will get there, but the sooner, the better.
I must ask, Shed. Why would you not want the share price to increase? Will it not give you more confidence of your shares to see it is worth more money? Or is it the averaging down thing? I personally would rather want to see the company going forward. A higher share price will reflect that people want to invest in the company, making it a much more viable investment for everyone. Just my opinion.
"I don't want the drilling update because I think it will move the SP significantly"
You'll be in luck then.
I don't want the drilling update because I think it will move the SP significantly but because I'm interested in hearing about progress, I think that's allowed. The subsequent assays might move us if they suggest they'll feed positively into an improved JORC going forward to the PFS, particularly if copper becomes significant. There is potential for a negative impact from the drilling update should it miss or return unpromising visual mineralisation, so plenty to look out for in the near term.