If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them 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.
Thanks all for the updates.
T
Also Myles used the term our precious metals so not just 1 it seems.
Great summary Brikz, I felt they dodged my question on deleterious elements somewhat, perhaps I put it badly but Myles seemed to answer a different question, future in politics perhaps? Tomorrow will be interesting to say the least but I'm confident that our Execs know that they have a mine. GLA
Bobby...LR took a bit of time explaining the non dilutive options...which have been documented by previous posters but the real key imo was Miles’s explanation on awaiting WA met results which will determine their strategy....and I took this to mean possible additional strings to their bow ito non dilutive options. But I think they have all the bases covered and overall from an operational perspective they are doing it by the book and taking no short cuts imo. This augers well for shareholders who deem themselves investors rather than traders. I also think we have not heard the complete story with TOD 25....hence imo anyway no strategy finalized at this point. We were given confidence as well that he anticipates no challenges with deleterious elements and all seems goodly at this point. The fact that they are now incentivized to deliver value to share holders is a huge leap in the right direction. I personally believe that EUZ has grown as a company even though the market appears to think otherwise and we are entering into a new era with an extremely competent BOD imo. Very exciting times ahead for EUZ. GLA
Thanks Shed
Sorry Teaye that would have been a good question this morning. I did spk to LR back in June and he said that he was wanting to focus on EUZ going forward; over the phone is not like in person. Maybe that was what I wanted to hear, but feel that we should know quite a bit more by August, just hope the SP can hold up from tomorrow.
Teaye he has already confirmed that, I think Brikz had the most interesting reply on that subject. Radika I don't see how consolidation will help the SP short term, except the obvious spectacular false rise! So let's say to avoid confusion I don't see how consolidation will increase the value of your holding in itself short term. However there is a massive period of news flow coming up. Reading between the lines there were a couple of snippets today that pieced together suggest to me that we have options - mention of EU grants and waiting for metallurgy before deciding on strategy. The second bit I think meant next operational strategy plus the course we will take in funding the next step. LR is very cautious and I think something is in the pipeline on EU funding for him to have mentioned it. The scale of this could dictate how strong a bargaining position we're in with a potential partner, so they don't want to put the cart in front of the horse so to speak. I remember not rushing being mentioned as well and I get the impression thinking back that they want to establish where EU funding might leave us before getting into bed with anyone on a JV, all the while metals are recovering, particularly silver the most source of cash pre mining.
Verbs, Soul - did anyone ask LR whether his recent withdrawal from other commitments was so that he could dedicate himself fully to EUZ?
Was hoping there would have been more about the company strategy as it “grows up” rather than pushing this until the release of the WA results although another couple of weeks probably won’t kill us. What happens to the SP is anyone’s guess, however...
Shed What is your view do you think this will help sp or is it going to be bottom drawer for us?
I really don't know Teaye so completely open to suggestions, your point does sound reasonable though. I do suspect we'll see some trades tomorrow that might suggest not everyone has grasped what has happened. From the RNS "Shareholders will have the same percentage interest in the Company following the Consolidation, but will hold fewer individual Shares, with each Share having a higher market value due to the total aggregate number of Shares in issue being less". Hope pasting that doesn't appear patronising, I'm sure the vast majority are on top of this but I'm kind of bracing myself for a lot of wilful misunderstanding tomorrow.
hi Sched - as the ISIN changes, wouldn't that technically mean any order would have been for a different share?
Thanks Soul - did anyone have any thoughts about forgotten limit orders? Just wondered if there will be a number of 'bottom drawer' type investors who will have stopped following the story (understandable given the SP!). Basically aren't they going to get their shares taken out on the bell tomorrow morning having placed modest limit orders in the past? I guess look out for a load of 'A' trade sells first thing. In addition I have seen comments on the 'Latest Share Chat' in the past where someone has said words to the affect of "Wow look ACME Metals have just done 1 Billion %!!" not understanding a consolidation has taken place. Incredible as it sounds will there be holders who will think something extraordinary has happened and sell? Nothing would surprise me.
Here's some info from the quick notes I took on the call:
Options/Warrants: Consolidation at the same ratio 500/1
Current options being explored in terms of raising capital:
They are considering a number of different strands -
1. Looking at a JV group to come in and work with EUZ and invest into the project itself (ideally minimal or reduced stake).
2. EUZ will look seriously at any buyout offer if tabled.
3. EU Grants/Loan - actively pursuing securing funds according to the grant model.
4. Pursue further exploration of using the precious metals credits.
5. They didn't completely discount dilution, but rather mentioned it quickly in passing.
Other messages and information in the mix:
1. Wardell Armstrong should complete their current work over next couple of weeks - news will be out more fully once the new numbers come out.
2. They want to make the project as attractive as possible without spending a lot of money.
3. The company is in talks with a JV group and once solid agreements are in place, RNS will be out regarding this.
4. Proving up the deposit takes time, and there' a lot of boring works like Hydrogeology, metallurgy that must be completed. The very good high grades that sit within the deposit is where the focus is. The Intention is to do things thoroughly.
I had to leave after the last bit, but I think I got most points down. Hope it's helpful.
RNS is out...
Verbs, thanks for updating the bb.
ATB, Pete
Apart from the WA results in about 2 weeks the main points that I took on board were:
1. In talks with a JV group
2. Would consider outright sale
3. Looking at the precious metals for future funding
4. Looking at EU grants
5. Extension to mining licence with local Junta
MC said that they were quiet on strategy as awaiting the WA numbers first before making a strategy statement (his words). He also felt that the deleterious elements such as Cadmium and Mercury should be OK (again his words)
LR said that he wasn't sure that Lundin would exercise their buyback as the project too small, but wouldn't commit.
Oh; and Denzil may be Bricks
I have probably missed something, but it's still a waiting game.
ATB GLA Verbs
Shed, thanks. Were all of the motions carried and did the bod get their incentive?
Hi Pete - well going through the resolutions took most of the time, we'll hear the results later today. CJ got the £1000 issue cleared up with the company lawyer and basically all the stuff about folk with small holdings getting shafted was a storm in a teacup. I qualify that again by saying you could take an alternative view and say they have been shafted as their holdings have become so small, but from where we are now everyone will be treated fairly. Encouraging stuff on talks with other entities, though a cynic could fairly say wasn't it ever thus! Thought there would be a lot more questions to be honest.
I'm also looking forward to the news flow. Should Miles of said the next couple of weeks for the WA report. Only reason I say that is some people on here are hot on said deadlines being missed. Also some good questions at the end from CJ etc
Shed, I couldn’t make the meeting, are you able to share the high and low points?
ATB, Pete
Well that was interesting I thought. Looking forward to the news flow now. I think it might be deathly quiet on here this afternoon as everyone who has a gripe with the company had their chance - absolutely no vetting of questions, anybody could speak up.