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Meant to include, that it is important to bear in mind that once above the 26.5p level and the institution(s) feel they are safe to exercise their warrants at 26 and 26.5p this will then virtually double the cash that EUA currently has in its account.
Plumshare
A valid point and I suspect that unchecked the share price may will drift downwards.
That said, I would hope that after the reaction from the May 20 placing and the subsequent warrants attached to all intents and purposes being un -excercizable; that the BOD would be astute enough to engineer this placing at a time where they can shortly follow it up with a decent RNS to prop up the SP.
It is my opinion that the BOD didn't like the SP dropping below that 26.5p much. I therefore would not be surprised to see some kind of significant news fairly shortly, All IMHO of course.
That'll do for me.
Great work all.
Caw - I think the $20m that the BOD originally had was to buy the 75% (discounted) share of the licences but they needed 75% more ($15m) due to WA/JORC showing there were 75% more reserves. The 25% to purchase off Rosgeo is not going to be cheap and I think the buyer will sort this with Rosgeo directly. Just my two pence worth.
GLA.
Chrysalis problem being after last placing on May 20th the SP dropped nearly every session down to 14p is this likely to happen again?
Lb , chrysalis & all
I’m in your field of thinking - posted the below today - some how all connected in my eyes
The shenanigans on the stock in recent months are certainly all connected with the USA ii in my eyes & the recent RNS very strategically placed knowing exactly which direction the stock would go # manipulation
, & if you were sceptical - to suit those in the know from all sides , all seems very orchestrated for the right reasons .
However in my eyes for all the right reasons as they all want in at favourable prices to gain the maximum benefit from the sale & with all the news on asset numbers expected which could well indicate a Herculean offer .
So the stock ownership chess pieces have been slid around the board in place ready for incoming.
My musings
Rums all Round
Not convinced- the first placing , the manipulation since 12th May , the recent manipulation & shenanigans & RNS / second placing are all connected in my eyes & the undisclosed USA ii are pulling the market strings , always sceptical with BR tentacles involved or one of its clients .
How it all fits likely never find out .
Rums all Round
I think the buying of the 25% on Jorc result is the expensive bit. Like to think 20m was enough for 104moz but Jorc shows 50% more in the ground so had to raise 50% more to 30m to pay for it
GLA
Does seem very coincidental. They make the caveat in today's RNS that the proceeds are primarily for furthering the Rosgeo JV. Out of interest, is there anyone out there who has any idea of what the $ figure is for the transfer of Nyud?
I was wondering the same chrysalis. I keep re reading the 2 placing rns. The bit that sticks out to me in today's...
"The cash position of Eurasia after the Private Placement will be approximately US$35m.
After receiving a more sizable offer, the Directors have decided to limit the size of the Private Placement relative to the offer to minimise shareholder dilution and at the same time place the Company in a stronger position."
HCW spreading the exposure risk over 2 clients?
ATB LB
Bearing in mind that this is another placing, at an almost identical price with an unnamed different/same US institution that .....
EUA prior to the first placing were working on requiring $30M to do what they needed to do, To avoid unnecessary dilution, they were relying upon the institution at the first placing to exercise their warrants, but of course the share price never went above the 26.5p mark and hence it would have been madness to exercise them. EUA then needs to go back to the same institution after boosting the share price via the recent RNS to get themselves up to that $30M level, but have had to give away more warrants.
Just seems more than co incidental to me that twice within a few months there has been a placement with an unidentified US institution(s) at more or less the exact same price for a similar tranche of shares.