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“ Hi iKN what you say is correct in a simplistic world. The fact is is that every UK/western bank will have put EUA on a blacklist for monies received, as minerals etc are under sancrions. If they suddenly receive a payment for x millions of pounds it will not be allowed to go through. It's not about China buying it , it's about anyone buying it.
Would could happen is the national banks of Kazakhstan could act as mediator and sell through them, then all eua holders could fly to Astana and pick up their riches in Tenge, but via a uk bank it just csnt happen im afraid , too many checks in place“
It’s not a fact that EUA have been blacklisted by all UK banks at all !!
It’s also quite obvious that subsidiaries not within Russia or the UK can very much take monies and therefore push money back through to the UK.
Also noted the UK Gov would like to see UK companies exit Russia, so they would only allow this with no monies ? Very doubtful on a good day.
Thick as two planks x999 ain't they
“ Lol Richard pretty sure DLA Pipers and UBS both stopped working with EUA a long while ago…neither have been mentioned in any correspondence for a very long time“
Not at all, it has been answered by the company that they are still working for EUA.
Spun/ky.... Obviously we have to treat you like a child to make you understand things, being the none invested troll you are, but if you would have kept up to date with developments of West Kytlim, you might have noticed a lot of court cases going on relating to tax, and how it was becoming economically un-viable to continue. Subsequently Eurasia won the case, and restarted operations.
Do try to understand simple economics dear.
The company went to court for a reason subsequent activity at WK resumed after the succesful result of that case ruled considerable tax incentives in the company's favour.
'It woulden't surprise me if the board, DLA Piper and UBS are working in tandem to off load assets to a Western Capitalist Mining giant for pittance'
Do you ever think before you write, what western mining company is going to buy any resource in Russia?
Totally agree Spikey, and apparently so does the wider investment market.
Lol Richard pretty sure DLA Pipers and UBS both stopped working with EUA a long while ago…neither have been mentioned in any correspondence for a very long time…
Offler, key issue is not whether WK is “apparently functioning” or not; it’s whether WK makes money for the company whenever they do attempt to run it — the fact that they mothballed it, and the company accounts history, suggest otherwise.
(a mine could be fully ‘operational’ but still utterly dead in the water economically.)
if WK still can’t operate economically productive and profitable, then evidence of site activity is just evidence of yet more shareholder money being poured down the drain.
There is a lack of faith in the board and with very good reason. It's coming onto two years since the $100 billion sales man was brought on to speed up the sales process. Nothings gaporned and if anything, it seems the board were suckered in by a complete con man.
It does seem to me that UBS and DLA Piper need to be sacked. It's obvious they're very detrimental. It woulden't surprise me if the board, DLA Piper and UBS are working in tandem to off load assets to a Western Capitalist Mining giant for pittance.
Dim, if EUA’s WK mine is operational and economically viable, capable of generating an ongoing stream of cash and profit, then why did they close it down and mothball it? (as per their own RNS history)
… if someone owns an operational and profitable mine, surely they would just keep running it, on an ongoing basis, just so long as they could dig up decent quantities of product that they could sell for decent price?
It’s strange we have all this good news, apparently functioning mine, Wainwright report, Russia/China agreements, need for precious metals (apart from fall back with EV’s) and yet the share price doesn’t move, has the wider investment market, just missed it completely, has no confidence or no interest? I’ve only got a small amount invested more of a punt but I’m at the point now where I would settle for just getting my money back.
Apart from
Not functioning currently
Loss making when functioning
That’s a completely factual statement
'Therefore it's very clear that this is an operational mine once again'
Adam is likely still catching up on yesterdays news?
Hi iKN what you say is correct in a simplistic world. The fact is is that every UK/western bank will have put EUA on a blacklist for monies received, as minerals etc are under sancrions. If they suddenly receive a payment for x millions of pounds it will not be allowed to go through. It's not about China buying it , it's about anyone buying it.
Would could happen is the national banks of Kazakhstan could act as mediator and sell through them, then all eua holders could fly to Astana and pick up their riches in Tenge, but via a uk bank it just csnt happen im afraid , too many checks in place
Just not clear in an RNS.
You seem flustered, Mr Dim. The suns out, it’s Friday, afternoon refreshments…. what more could a man want?
Spikey, that was previous. It's clear to see from the satellite image there is work being done now, it's clear to see from the accounts there is work happening, and it's clear to see from the job advertisements for KK that there is work being carried out. Therefore it's very clear that this is an operational mine once again, but I suppose all that goes against your narrative, because you're a sad little man who lost out. What a loser.
Thankfully we have Jarv55 to post random excerpts from previous RNS releases without providing any context ….!
I’m not sure why any Chinese company would have money blocked going to the UK ?
Why would any western bank refuse such ?
Russian money or a Russian bank is another matter ( which isn’t off the table either ).
Example - Essar as the buyer , buying EUA assets where monies would not enter Russia and be paid to UK bank.
EUA would have pay tax to Russian Authorities so will have to be allowed in however this is done.
Obviously EUA had no issue with any authorities having a tax rebate from Russian Federation a few months back so cannot see any issues with monetary transactions.
Montmuzard 01:02: “Eurasia have (a) a functioning mine at WK that can generate enough revenue to keep the lights on…”
that doesn’t really square with EUA stopping production & mothballing the mine.
Sorry I'll make = bill dunno how that was retyped
My take in lieu of any response I'll may make.
That is a good question Jarv and it can be answered in 2 ways.
Western banks in HK vs China banks in HK.
If a Chinese buyer has a western bank account( HSBC , standard chartered etc) then the transaction would likley be blocked( though we have all seen those banks bend rules) cos what would happen , is the HK branch would suddenly receive a large amount of money from a Chinese bank in rmb. Then sent to their UK account in uk. That alone would cause alot of redflags to go off and unlikley to happen.
Then you have a Chinese bank like icbc, boc, ABC who have operations in both main land and HK ( SAR), who probably dont care about US sanctions, as long as they don't get caught, so yes in theory if eua have a HK bank account with one of these banks, then maybe. But I would imagine the UK banks suspect this type of activity and set up transaction alerts to cover it.
I.e if a barclays UK account with know business in russia suddenly received 100m from a Chinese bank based in HK, its basically not gonna happen.
I think a suitcase through customs is your best bet.
Hi again LIB.....Yes, the Welcher's incomprehensible post is a strange one.....pop o'clock already?
Hi LIB, i totally agree that MJD's post has merit, but the point I was making I that a Chinese buyer has always been a possibility due to their 'close' relationship and economic ties.
This recent expo and V.P visit has only cemented the Russia/China further.......has it made the nationality a buyer being Chinese any more likely than it was before.....I don't know.
@Jarv......sorry....I haven't got a clue.
It's not about the logistics of moving cash from Russia to anywhere, the complications would arise from sanctions and if Russia really has the willingness to distribute funds to western shareholders when one takes into consideration that countries all over Europe are considering whether to monetize/liquidate currently frozen/seized Russian assets.
.