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Hamster I'm here mate!!!!! Hope you're well I am always checking in but not always posting. I feel we fell to the bottom of a well and got stuck. We will have an RNS in October at some point. I am not as optimistic as Banker as to an immediate RNS though. On a positive note I only see good news heading this way, let's hope the SP also follows with a nice movement. Hang on in there guys, keep safe, be positive our time will come.........eventually!!!
I am also expecting a lift off soon. In Turner Popes research note dated 12th July 2019. See http://www.europametals.com/site/PDF/30ffa441-6995-4f39-8701-47b3e18eea8b/EuropaMetalsplc
They valued us at 0.095 p per share (old Money)
That equates to 46.25 pence per share new money.
I know a lot of you take their valuations with a pinch of salt (myself included) but between July 2019 and September 2020 we know what has happened as regards the further de risking of Toral project and the huge success of the metalurgical and ore sorting streams . Time will tell.GLA.
Morning Brikz, a couple of dilutions since then of course as you know. Interesting that was the last time they rustled up a detailed brokers note, unless I'm mistaken they have only managed 'flash notes' since then. Perhaps we will get a full re-evaluation after the Bara economics. Interesting they cite lack of metallurgy in 2019 (as well as risk of dilution..:(..) as the main technical risk to the project. Well that's pretty much sorted now so what an entry point this should be for new money, roughly a 30% discount to the institutional placing at 12.75p which in itself would have been beaten down from fair value. I have to agree that this funding gap to complete a full PFS is weighing on us I just hope they have a plan and it isn't more magic beans.
Hi Sheds. GM. In the speeding RNS dated 30th July...they stated. " The recent rise in share price is positive for the potential exercise of outstanding warrants which would mean further funds for the Company " so I am convinced the PFS is built in to the warrants being exercised at the right time. I don't see further dilution until perhaps after PFS phase (if its not sold by then) GL. D :-)
BTW....with all my calculations I am already taking into account all warrants being exercised which will then mean about 60 million shares issued.
Hi mate - what sort of figures do you think we might be looking at from the warrants? If we can JV or sell after PFS it will be from a much stronger position. Dare I say it.... total speculation... but it had been rumoured that CB might have wanted to bring in one of his vehicles, perhaps LR and MC wanted to go it alone until after PFS at the expense of a placing. Could that explain the parting of company, personally I wouldn't be surprised to see him back at some juncture. Guess it will all become clear eventually.
We will raise an additional 1.6 million quid from the warrants. This should see us through to end of PFS stage.
From a CB perspective I do not want to speculate but we have had a few surprises in the past and anything is possible.
I personally think we ain't seen the end of Lundin.... based on my previous research....and they have the cash.
Maybe Brikz, though MC did say we're too small for Lundin, there again he also said we had non-dilutive funding optionality last December :) In any case why did Lundin have Toral in the first place if it's too small? If it's a profitable and strategically well placed mine with Silver I wouldn't have thought size really matters. Right back to hauling hardcore before my floor goes in.
I also think we have changed our tune somewhat since those days...they no longer talk quantity of concentrate....its nowadays higher graded quality of concentrate.....so being too small for Lundin made sense...then....but I dont think somehow they will shy away from higher graded concentrate when it can improve the quality of their current concentrate grades in todays market.
And if we can prove up the Cu it’s race over imo.....as they are actively looking for a Cu play.
Yes they do seem to be emphasising the significance of being high grade, hopefully that's what caught Conrad's eye. As for the copper - it's still the great unknown, could the ore sorting have something to say about it or would we have already heard something about it in the initial ore sorting analysis? Probably now I think about it.