Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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GFD - here is an example of a “reverse speeding ticket” from May 2019 when BMN was thought to be being shorted.
“Comment on Share Price Movement
Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets, notes the recent downward movement in its share price. The Company confirms that it is not aware of any corporate developments that support such a movement.”
https://www.lse.co.uk/rns/BMN/comment-on-share-price-movement-g5sngcn9qin1his.html
The RNS was issued intraday and the SP immediately went into an upward reverse climb.
Different situation here but just for reference as an example as you requested.
Cheers
So close it's nearly touching ;-)
GLA tick TOCK
OK, so they missed those actual words off. Whoop-de-doo. That RNS was far more comforting than the wording you seem to need.
Hairy Harris was known as Dog with Fleas for a reason …..!
Felt sorry for the fleas……lol.
Hairy_Harris_
haha really!
i have you on filter but something must have gone wrong with lse, i don't tell anybody what they have to do, but i will tell you..f off
Aspen, that´s how I read last RNS..why worry ? We are one of the biggest shareholders..
Earlier RNS stated to max.shareholders value
IMO we are very close now
That’s how it read this time, it’s close so more relaxed but still compliant.
Or the BOD's could be thinking the sale RNS will be coming shortly, so why the necessity.
Calamari : that's exactly what they did yesterday. However, they also had the courtesy to show their workings out - step by step - as to all the activities, their status and anticipated outcome.
Calamari, they were forced to issue that speeding ticket because the sp had shot on with no grounds within a matter of days
This has been a slow steady decline so they are under no obligation to do so
Yesterdays rns, however, i see as doing just that , it was to tell the market that nothing had changed and things are progressing as they should
What more can you ask for
taking ages this one.
That’s the whole point GFD, he doesnt believe the BOD are acting in our interest! He must have been drinking his own p iss, cos something has addled his brain. Best to filter and ignore rather than pander to him, that’s what he always USED to condone!
GLG, fair points and I completely understand and have some empathy for your views.
You may have already mentioned it and I missed it, but interested to understand if the RNS yesterday went someway to allay your frustrations, it felt to me that the BOD went as far as they could to address some of the 'concerns' expressed by share holders and personally I thought it was helpful and very positive. As always with these things you have to 'read between the lines' a little like it or not.
At MT originally you have 15Moz Palladium eqv between the original planned open pits and the flanks, different to a Platinum eqv figure. There's also the JORC to do on NYUD and then get 100% ownership, they could argue that it has little value until that stage to be honest and it has came after they chose the asset disposal from the FSP.
GLA
The disposal is on what they have 'mining rights' to Pk73. Mining rights have far more value attached to them than exploration rights!
GLA
I don't think it can be everything sold but the JV.
In the RNS on the 15th June They have activated the Nyud mine as a going concern. This looks to have an estimated 54.97mOz of PT equivalent (or c.40m0z at 75% ownership), which dwarfs the 2.2mOz JORC at MT.
Therefore to sell "substantially all" of the assets as per Q3 of the RNS, then Nyud MUST be included in the sale.
If it's not included in the sale then this would make AIM rule 15 redundant in this case as MT is now a minor asset percentage-wise, and certainly less than 75% of the business.
I think they will strategically activate at least another two or three assets in the JV and include them in any sale, and I think that's what it means when they say in Q2 of the RNS that "The work programme is being developed in relation to the Rosgeo Joint Venture". And then once these are confirmed our buyer's requirements will be met and the sale will proceed.
All in my opinion reading the most recent few RNS's. Either way, I'm absolutely comfortable that my currently red investment is going to make handsome returns in 2021.
Best. PK
It's a good question CAW, what it does is it gives you a good idea of how long it may take for something to be in production, JV assets have been mentioned as being 'toll treatable' to the original sino plant at the original MT asset area. There is no plant construction required for Eurasia if they dispose of the original MT now, but the same timeline for construction will exist.
GLA
Just filter him, waste of time and energy sadly.
Higher than 104.6 million ounces of Platinum.
gecko I get your frustration but we have never known exactly what is going to get sold, so why all of a sudden is this an issue
Indeed Judge-mental, it looks like a full disposal of what they initially had to move fully into the Rosgeo JV, both MT and WK. RNS to date has always suggested a MT disposal was being worked on, from specific NDA's being mentioned to what was dropped in the annual report -
Eurasia Mining plc Annual Report 2020.pdf -
"• The Company received a proposal in writing regarding a potential substantial asset sale in May 2021 and exited the Code compliant Formal Sale Process as announced on 12 May 2021."
"The Company has continued to manage and develop the Monchetundra Project while commercial negotiations/discussions
regarding a potential sale of the project are ongoing"
But, the original bank RNS of 19 told everyone about the potential disposal of both tbh -
"If the Company was to dispose of both of its Assets, then AIM Rule 15 (Fundamental Changes of Business) would apply. Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it."
Big asset disposal at this stage either way, 75%+
GLA
GLA
Find this question strange as not one I would have personally put in my top 5 - why mention it when we know from the annual accounts update there is a proposal in writing to purchase MT.
Q4: If commenced, how long will it take for the Monchetundra Project preparatory works assigned to TGK?
The engineering, procurement and construction ("EPC") contract allows for an 18-months to 2-year construction phase to commence in line with pit preparation works, undertaken by Eurasia subsidiary TGK, in a sub-contract costed within the EPC. These preparatory works include stripping at West Nittis and Loipishnune, transportation and compacting and dumping, slope grading, compacting of run of mine pad.
GLA
i would guess at over 75% :) ! probably 90% which is pretty much everything except the rossego jv because we only bought a piece with the option for the rest ! so " Fundamental change to the business " from explorer to pgm miner with a fully funded program and all other assets sold! One thing do know is its over 75% which is a lot of pgm potential for the next 40 years :) Just my guess obviously usual caveats apply !
Think this answer tells you what is for sale - everything apart from JV IMO well they might disregard Semenovsky as not sure even exists anymore
Q2: Have the board used the circa £14m from the recent placing?
No. As announced on 4 June 2021 the cash balance of Eurasia is c.$23m. The work programme is being developed in relation to the Rosgeo Joint Venture.
GLA
You've had your answer to the question from the BOD Gecko, accept it and move on, over 75% of the company assets -
"and that the transaction would make the Company subject to AIM rule 15 (any disposal which exceeds 75% in any of the class tests is deemed to be a disposal resulting in a "fundamental change of business")"
Stomp, stomp!
GLA