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Comment:
Christian Schaffalitzky, Executive Chairman commented: 'The Board is pleased to make progress on the operational side, on the appointment of the new Nomad, and on its strategic discussions. Although our mining operations are of an open pit nature and are ongoing without any impact of COVID-19, the Directors have decided to be prudent and not to invest all the Company's cash into production expansion but to keep a cushion on top of the unused credit facility. With our flanks application imminent, a developing supply crunch from stalled production by the major PGM producers and the recovery of PGM demand from China underway in March 2020 with both Industrial PMI and Composite PMI above 50, we are in a good shape and, although all companies are affected by the uncertainties of the current environment, I believe we are well positioned to take advantage of the right strategic options for our assets"..... ..
That says it all for me :-)
@Teletubbies......the Rns has been released at a time that is beneficial to EUA .
A few points really......
- They have told us that the NOMAD has resigned, but they are I advance talks with a replacement.
- They have given us an operational update at W.K and In my opinion it is a very promising one that shows we are geared up for full production at the site.
- Monchetundra flanks application is progressed .
All the information stated in the Rns is letting us shareholders know that we are now a fully operational, independent miner with a plan.
As previously stated by another poster......selling product is not going to be an issue.
I for one am not worried in the slightest.
Gla
Elenor, what notice do you think they have to give - 3 weeks ? Dont be so stupid they would have had to give MUCH longer . So they have KNOWN for quite a long time that WHI are leaving yet it was announced yesterday- why?
With the 3 weeks to go and the end of May another month I think a notice period of two months prior to yesterday is around 4 months?
I called WHI yesterday but no one was available to tell me the notice period- but I will be in touch on Tuesday to find out.
I have not been anywhere- check my posts- always invested - I just dont need the self gratification of post after post like some
Tellytubbies filtered. Anyone who says "I have a bad feeling about this" who is not Han Solo can get tae...
Lady Thatcher let the free market handle our N Sea asset in the belief that the money would be reinvested in the UK. Sorry to say she was mistaken. They took the money n ran.. The Norwegians built up a huge sovereign wealth fund. I am sure that if Lady T knew that money would disappear she wouldve started a national wealth fund too!
I doubt Putin will let EUA wealth leave theRussia.
But that does not mean we won't get a good deal.
Something I have thought about quite a bit in the past, but how could the Russians block the sale?
Then after the RNS yesterday a bit of light
Delisted, after at least 4 months” trying “ to get a new NOMAD
Leaving a private company to be taken over by whoever, PI’s left with nothing?
Worse case scenario? But not only that a VERY possible one.
But nothing anyone can do, they have broken rule already so they have form.
Hope I am wrong but have a bad feeling
TT
It's a possibility. I don't know if it's a coincidence, but James Nieuwenhuys - the Lesego CEO that was appointed a non-exec director, has experience in Chinese investment ties (via Polyus, and Lesego being funded by Chinese private equity), beyond his knowledge of the Russian mining market (via Polyus).
Think EUA might be exploring multiple angles, a la GV Gold (who was also at the Rosnedra stand at PDAC). Chinese investment might be an avenue, but my postulation is that it'll go the way of a Russian mining firm - or a Russian or CIS oligarchs (a bit like GV Gold), that might want a foothold in the PGM market. There are more rich people in Russia than we think, that could bankroll such a purchase, beyond conglomerates such as Nornickel.
If EUA is worth what we think it is the Russians are not going to sell it to any foreigner!... Would you?
Moneymaker, I’d be more than happy with Sinosteel buying MT. They will have plenty knowledge of the project already so it would make sense and hopefully be a quick process.
Seeing as there’s so many wild thoughts flying around, I thought I’d throw another conspiracy into the mix...
CITIC Merchant Co. Ltd specialise in ‘China’s overseas acquisition particularly in resource and energy sectors’. Considering Sinosteel are already a potential stakeholder in MT, they are a state owned enterprise, have made numerous overseas acquisitions already and have the money to continue doing so. They are better positioned than anyone to make a potential bid for MT.
Food for thought, but fingers are pointing to SS for any partial acquisition...