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Bye. Enjoy your lambo.
Exactly this GLG. There has been no explanation on this board or by THE board as to why we would exit this FSP that makes sense and before anyone starts the Rosgeo theory doesn't fit.
Therefore I can only conclude that the transparency requirements of the FSP were something the BOD wanted to avoid, and when a BOD wants to avoid transparency that is never a good thing for PIs.
Although nothing but speculation.... the takeover panel probably pulled the FSP after a year and no progress.
Billions/theGG..it was the BoD that pulled the FSP as they had received a proposition which they felt was worthwhile to work towards completing. It's in an RNS!
You have nothing worthwhile to add and nothing substantial to back it up so you can both stop your drivel
Just to refresh your memories'
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that a proposal has been received for the acquisition of certain assets of the Company, the conclusion of the strategic review and Formal Sale Process ("FSP") and an update on its operations.
As announced via RNS on 14 January 2021, Eurasia and its advisers have engaged with a wide range of parties interested in acquiring either the assets and/or the Company. The Company has more recently focused its attention, including providing due diligence access, on a limited number of potential bidders who had shown consistent interest in Eurasia and its high-quality asset base.
However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent ("Pt eq") Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project on Kola (as announced on 26 March 2021), the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale.
The Board has therefore also decided that it is time for the Company to exit from the Formal Sale Process, which has been prolonged due in part to COVID-19 lockdowns-related delays in conducting site visits (as announced on 14 January 2021).
I’ve added today - now close to 2m - and will sell others if this keeps falling- I can’t understand the PI unrest - what will be will be - if the BOD manage to deliver as I think they will wonderful if not bugger my mistake - but the daily ups and downs of the SP are neither here nor there - if you think the fact they have immense assets and are working on a sale to a credible party to maximise shareholders ie their value is worth investing in just ignore the noise. If you think it is somehow a big con then avoid/short/sell - fact is every update has been positive, every macro factor has moved significantly in EUAs favour and the answer should be clearer in a matter of a few weeks- certainly I’m hoping for some more info at the AGM on the outlines of the deal and valuation which I think is not unreasonable to expect.
Smelly,
I know what you mean but it would be great for morale, just a little price rise per day would do.
It comes to supply demand atm. Volume has been low but there is no buying pressure, there hasn't been for a while. Any rise is sold into. Whether its upset PIs or a bigger investor selling is the question. After 50% down in a few months it wouldn't be surprising.
Onthebwagon - Why couldn't they work on the proposition within the FSP, given that the whole point of the FSP was to do so? The Rosgeo JV has no impact on their ability to do that.
Fsp is for company takeover not sale of assets. It also is a special dispensation meant to last a few months but may not suit a very complex deal. Any new bidder has to get same DD as all others so if focused on one bidder would mean waste of effort. They seemed happy enough with the credible party and probably now have gentleman's basis for partially written deal...
But the stock is manipulated just now. Thought had stopped just changed tactics. Gone from early sells and derampers to hiding buys as sells to shake the tree.
I still don't understand what it is that anyone thinks the board can tell us now that they have not already?
Only 2 things matter right now - What the terms of the asset sale & what dividend is (if it is) and what is left of the company and therefore what the company is worth after the dividend is paid out. Until the former is finalised the latter cannot be understood.
I'm encouraged to be honest. Can't see how a disorderly market can be avoided by disclosing more detail at this stage. Hence this quiet.
Wales need to stuff Turkey.