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of £4.2mil- what an absolute joke.
Come on guys work with me.
I'm no ego maniac, so I won't try to carry on my earlier failed heading of 'Strategy?' .
Is it heads in the sand time to what will happen in 6months time if a sale doesn't go through before funds run low?.
A.g.m all about directors pay or is there other issues they will discuss?.
To buy in at this level seems good , but I'm stopping myself topping up.
I've no hidden agenda and I truly hope everybody who is holding gets this big pay day we are all hoping for.
Where do people see this in 12 months if an off hasn't been made ?.
Your opinions on any of the above would be much appreciated.
Gla!
It is Lloydy and despite my enthusiasm for Toral it is increasingly difficult to stay positive. I wonder if a few had today as a deadline for mets and despite it appearing non-sensical not to wait a bit longer many traders will rigidly stick to a plan - quicker money to be made elsewhere etc. Overall though we're being haunted by two damaging raises that shouldn't have been conducted at such low levels, I'm certain that the mets will be good but I can't see that overcoming the negativity. I'm resigned to suffering this ridiculous Mcap and SP until a JV or sale comes onto the radar, when that happens I suspect the re-rate will be spectacular.
All coming together nicely, once the mets are released we'll be on our way - this isn't a Mickey Mouse project and takes time.
Good presentation on v o x
****************************/articles/europa-metals-corporate-presentation-featuring-laurence-read-5ceccd1/
Im With you Bobby...."The risk of it rocketing and not being able to get in is worth taking ".....I still get the feeling we will get "the slingshot" ....very low volumes being traded currently if one considers the number of shares issued. My guess is they have already moved into "stickier hands" ...hence the low volumes. This being the case imo ONLY good news will move this SP. ie a sale of or part of the asset....I think this will be the turning point....imo.GLA !!
The metallurgical work was always a much more lengthy process and was clearly signposted as being delivered after the JORC. The timetable ASSAYS-JORC-METS was established ages ago. They were never going to be released together, the only way that could have happened would have been to sit on the JORC and you can't indefinitely hold back price-sensitive information.
You are correct Shed...but the part that worries me...in the RNS 29th Oct with updated Jorc....LR states..."Going forwards, I look forward to announcing further progress in due course with respect to our stakeholder engagement process for a development application, metallurgical testwork results and the next stage of resource drilling."
Now stakeholder proress has been RNS's and so too next stage of drilling.....notice the METS in between...I really do believe they are completed. This in my mind is also "price sensitive"....so who is sitting on them and why ?
Bricks while I agree the mets in themselves are unlikely to trigger a re-rate they could well be the catalyst for something that will. Not being patronizing as I'm no expert in this field but they will be complex and we'll all have to put our thinking caps on. Luckily their value won't be lost on the entities we are sharing them with and it will be their actions that will hopefully cause the 'slingshot'.
True Bb - but there is more metal in the ground and it's only going to get bigger, I believe come the agm things will start to improve. Toral is a much bigger resource than currently stands and with new drilling targets and geo/hydrotech work planned it's only going to confirm the true value.
The JORC update was impressive with a significant increase of the resource but had little effect on the sp for whatever reasons.
The shrewd are buying now and waiting patiently for the uplift which will no doubt come out of the blue.
You can't stop people selling and going to pastures new while they wait.
No brainer at this price, I’m very happy buying these up
Sorry Bricks hadn't seen that when I posted. I know that I speculated last week that the incomplete 'locked cycle testwork' could be a convenient way of buying time for exclusive discussions with other groups but that's probably a bit far fetched, maybe. The guidance always was Q4 and we're right in the middle of that period so no delay yet to worry about. I often think back to MC's "more importantly" comment on the mets hence my thinking that they will be the springboard for negotiations to begin. Rubber stamp the economics of the resource we have and all the while the drill bit is turning potentially making us much more expensive, good bargaining position.
Thanks Shed...but why did he mention those 3 events in that specific order....surely he must have known when they would be delivered....it seems the drilling was announced 2nd instead of the METS....so in line with your theory...my theory is the "buyer" has seen the Mets...happy and now asked them for more "indicated"....which possibly is already built into the price that possibly already been agreed.....hence the "speed" of this drilling exercise which imo the scope was very poorly reported in RNS....Seems like some plans were changed the last minute...with the "silent hand" dictating. IMO. GLA
It could be a case of, whilst you have been pondering over those results Mr Buyer we have since commenced further drilling and have cracked on. Oh and by the way we can now improve our indicated resource so it'll be XXXm to buy the project and others are interested.
Good point VR....using it as a negotiation lever for a higher price....I dont mind in that case waiting.....:-$
The more I think about it the more it strikes me the drilling RNS was really rushed.......compare it to the other RNS's on drilling and you will see what I mean...
Yeah I see what you're getting at Bricks, the suddenness of them embarking on the drill program surprised everyone. A couple of things - from the point of view of the company the mets have unfolded as an ongoing process, if anything from the mets was required to inform the drill strategy then they probably will have known about it for a while (don't know what that might be but there you go), secondly I think the decision to get on and drill is as likely to be EUZ wanting to demonstrate that they have a plan of action independently of suitors as them being required to prove more. Guess what I don't know, oh you knew :)
Flippin heck I must do some work but this is intriguing. I doubt they would rush an RNS - legals and all that sort of thing. I admit there wasn't much detail but for some reason in the 9th Oct presentation it seemed that the next drilling would be to the east (14 mins in) of the inferred zone but they are now drilling to the west of the indicated area but within the inferred zone. I think this is probably a conservative move to firm up our indicated and possibly leave more ambitious exploration until we have a JV or as running room for a new operator, I believe the same thinking could be applied to the copper.
I think you have nailed it Shed....so a distinct change in plans rather rapidly the way I see it.....now the question remains....why the sudden change ?
Someone knows what they want and where they want us to look for it
i know what i want what i really really want...i want it, i want it NOW
Unless someone wanted to drive the sp even lower with an unexpected drill in an area that will be disappointing - leading the way for a cheap takeover.
Somehow dont see that happening Picaasso...LR has more integrity than that....However what I see in SHed's chrystal ball....is a deviation again.....this time a deviation to beef up the inferred and indicated of the Cu perhaps.....lets face it we have enough lead and zinc and silver....why more of this???
Notice the emphasis on Copper here....https://www.reuters.com/article/us-yamana-gold-divestiture/canadas-lundin-mining-still-seeking-assets-after-1-billion-mine-purchase-ceo-idUSKCN1RR12N