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Dare I say it…..and ripped the ARiStotlE out of all of us…:-)
Plato, You’ve SOC’d it RAiT to uS.
I would hope most things are open for discussion, but the objection sent to Proyecto Toral by the Sealion Conservation Society was a little zealous IMO.
Think you might have the wrong thread Plato ?
I don't see any evidence that we're being held up by environmental loopholes anyway. All that work is going on in conjunction with the resource drilling, metallurgy and geotechnical work. The borehole and piezometers are producing ongoing data and are not just to ensure the hydrology doesn't compromise the environment but also to assess potential economic impact of mitigating for instance water ingress to the mine, all relevant to the predicted operating costs. We are not yet in a situation in which the mine plan is good to go but the licence is held up because of a colony of Roman snails.
That sounds just like the good old days Plato….that’s how it was and that’s what miners focussed on. Fortunately the world is changing and mines now have to comply with ESG targets being set worldwide and new standards being set by ….as you rightfully say…politicians who understand that saving the planet is more important than making money…a question of doing the right things. I certainly would not invest in a fossil fuel company today as it is just not the right thing to do and their life expectancy is limited. But I get what you mean.
If it is going to happen, get on with it. Get the mining machines fired up and burning a gallon of diesel every 2km travelled when fully loaded. Get the explosive in. Get the heavy machinery in. Get the resources out of the ground so the population can benefit and the shareholders can make profits!
Been in the markets too long and seen too many companies get involved in bureaucracy. A companies duty is to its shareholders and to get the product to customers. Companies really have no other duty - it's all just in the head of greedy execs when they go delusional and want wildlife surveys done - common this is the real world - people matter more than sealions and hedgehogs. I can't believe how much crap I see in the market these days. I have lost a lot of money because some directors have this approach that everything else is just as important as getting the product to the customer in the cheapest possible fashion - so shareholders make profits. I am fed up to the teeth of admin and bureaucracy. In a pure capitalist economy admin/bureaucracy would not exist. Now I accept we do not live in a pure capitalist economy. However, neither should we live in a fairytale world of endless admin/bureaucracy/talking shops/grant applications and in the end it takes so long that the value is lost. The customer is annoyed as it never got the product/raw materials they could have made into higher-value products. The investors are peeved because a dithering company will go bankrupt (only a matter of time and most investors will be pretty quick to jump out when they perceive dithering/lifestyle companies/fairytale 'do-gooders' engaged in endless bureaucracy/politics).
We live in a capitalist society and politics is second in the order of importance. People would do well to stop thinking politics is more important than it is.
The break down is very significant
with the following breakdown of funds: urban and rural agenda (20.7%), infrastructures (15%), green transition (9.2%), modernisation of the public administration (6.2%), companies' digitalisation (23.1%), science and innovation (7.1%), education (10.5%), care of people and employment policies (7%), culture and sport (1.2%), and modernisation of the tax system (7%).
This breakdown complies with the European Regulation's minimum requirement that at least 37% should be devoted to environmental protection and 20% to the digital transition.
There are potentially 3 which we come under
urban and rural agenda (20.7%)
green transition (9.2%
companies' digitalisation (23.1%)
LR was going on aged about how the mining sector is changing, we’re definitely in the green sector and also rural and urban just about where we are.
3.1 Tools for the distribution of the funds
The funds from the RRF, according to the Royal Decree-Law, will be distributed under three different lines:
Strategic Projects for Economic Recovery and Transformation (known as "PERTES", in Spanish), which constitute a new public-private partnership instrument that identifies projects of a strategic nature, with a significant potential for the rest of the Spanish economy. They require the collaboration between administrations, companies and research centres and are subject to a very specific criteria (e.g. combining knowledge, experience and financial resources to remedy important market failures and presenting an innovative character in terms of R&D).
Grants, for the financing of private assets, through competitive calls for proposal. They require public-private financing.
Contracts, for the financing of public assets, through call for tenders. Financing can be 100% public or public-private (concessions).
Although the distribution of the funds will be governed by the general regulation, the Royal Decree-Law introduces several flexibilities to the standard operating procedures (e.g. urgent processing or less strict rules on economic and technical solvency in tendering procedures).
In addition, as specified by the Royal Decree-Law and by Regulation 2021/241 in its recital 8, the funds received from the RRF are subject to EU State aid rules. Consequently, Spain is expected to notify to the European Commission the measures that constitute State aid, unless they are covered by one of the rules set out in the State aid block-exemption regulation.
3.2 How to access the funds?
The funds from the RRF are open to all companies, there is no specification by sector or type of activity beyond that determined by the sector's fit with the objectives of the plan. The Royal Decree-Law identifies three public-private partnership instruments for the implementation of the funds:
The beneficiaries will be the local entities and the funds will be distributed in three lines of action :
1.- Sustainable markets in commercial urban areas
2.- Sustainable markets in rural areas
3.- Strengthening the commercial sector in tourist areas
For the Minister of Industry, Commerce and Tourism, Reyes Maroto , “these aid are intended to alleviate the effects that COVID-19 has caused in the commercial sector , taking into account its special vulnerability as it is mainly made up of SMEs and the self-employed . In addition, they will promote a more resilient, competitive, sustainable, digital business sector that responds to new consumer habits and models. The objectives of the three lines are aligned with those set by the European Union and we place special emphasis on rural areas, because trade is an economic activity that contributes to settling the population and is part of the identity of our peoples, in addition to favoring the economic development and territorial structuring ».
Let's hope there's money left. Another dilution even a small one will finish us off for good. It would cause a huge sell off and we would not recover.
Nothing on the EUZ front today but lots on twitter about it. Good news is spain have 9 billion to get rid of now until their next tranche in December lots of cash to be given away.
All is not lost at all we're still waiting for the grant from CDTI to come through as i said previously wages will be paid for next the few months on that grant alone. Were now only 13 months since the last raise and theres still work to do on the key elements of the PFS of which we are funded for prior to the grant! The grant was a bonus
News to come
1) Resource Upgrade
2) Hydro results
3) The end of year report which will show whts been spent
Hi CJ while it's great news that they're bringing the copper to the fore a little more and considering partnerships to explore it I'm not certain it will be in the next JORC upgrade, maybe one to check with LR that, looking at the RNS I don't think it's entirely clear. As you suggest the work is all good and the resource superb, lazy accusations with the old hackneyed phrase 'lifestyle company' are way off the mark IMO. We all know the familiar problem that holds us back is the question of how much money do we have and how far it will go. I've mentioned before that other participants in the TP / Vox event stated their cash positions, we didn't and I think the market is pricing us on the assumption that it's grim. It's up to the Exec's to change that and we will, I believe, at long last get valued on what we have (a highly de-risked valuable asset) rather than what we don't have (mountains of cash).
I think you mean the Wolf in sheep's clothing ?
Beware of sheep in wolfs clothe :-)
hmmm, well the thing is (in my opinion) the point about a lifestyle company is it has to have just about everything you list cjen, to keep investors pumping in money....... while never quite delivering. You have to keep an open mind on these things but if that was the case with EUZ they have really backed themselves into a corner by employing a reputable company to further the JORC upgrade and the PFS. Put simply if either of these dont arrive they will have killed their own golden egg layer and a lifestyle company would never do that. They would be kicking the can down the road and putting in a little more drilling and exploring their "reserve" site etc.
No, i understand the frustration but people like Mr Habib dont come in to explore non existent finance options etc.
Best of luck to you then Cjen. If it had any realistic hope do you not think there might be the merest hint of interest from the wider market, even if only taking a relatively small punt, in the form of some actual buying? Each to their own and I hope it turns out well for you.
Roger65, thank heavens you arrived when you did. I have read your post and I will also now begin to sell all my shares as well. I haven't lost any money yet so I count myself lucky.
With the addition of Copper to the current resource of Zinc, Silver and Lead, a potential resource worth 1 billion dollars and only requiring Capex of 75 million, it sounds like the perfect time to abandon ship and swim for it.
I'm extremely grateful to you.. zzzzzz
Roger, sorry to here that. Not looked at EUA but hope we have a similar rise here and we will all be happy. At one point it 100 bagged!
Not quite sure Teaye…but the translation came out like this…. The vice president, spokesperson and counselor for Transparency, Spatial Planning and Foreign Action, Francisco Igea, attends the conference 'The company before the implementation of the Next Generation EU Funds', organized by the Council of Chambers of Castilla y León
Yes, my Spanish is pretty reasonable, hence I've long had an interest in EUZ in this particular area in Spain. Quite some time ago however that interest turned to disdain as it became clear to me LR and cohorts don't have the ability to make anything decent happen for EUZ. They will take their monthly salaries for as long as they possibly can, whilst saying as much as they can to give false hope, whilst actually doing as little as they can, and then with no warning someone else will swoop in and nab EUZ and all of its potential from our grasp, or it will simply go bust. I have no hope here so it's now a case of morbid curiosity as to why I drop in once in a while as I continue to sell my holding. Over all my loss will be well over £50k once I've got rid of all my shares but I've written it off a long time ago and mercifully made that up (and more) with EUA. I don't wish to see anyone else get stung here though, hence why I'm clearly encouraging people to steer well clear. It's a life style company and will never see any serious progress made under the leadership - hardly an appropriate term - of LR.
Bricks - was it marketed as an update/announcement of beneficiaries?
It does suggest grant decisions from the Next Generation fund could be some way off. Im still excited about the REMIX document that Mm's dug up though, partly because it was initiated in 2019 but also because it is talking specifically about mining investment in CyL.
Yes..it was the process and controls put in place for various checkpoints and to prevent corruption. The Beneficiaries will be announced later…..how much later they didn’t say but I know a few Journos are upset based on some of the comments I saw that they did not announce the beneficiaries.
Yes I didn't listen in Teaye but that's what the summary says. Thinking about it they wouldn't announce funding for a publicly listed company in this way. EUZ would be informed first allowing them to make the announcement to the market in an RNS first.