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Many thanks Nige...much appreciated as always.....I agree its not doom and gloom however we need to plan for them being exercised as this will impact our % holding if they are exercised at any point in the future. It makes sense therefore to buy more at these lower prices if one would like to maintain a certain % of the company ...in my case 1% so in effect should take my holdings to 1.25% in case they are ever exercised.
Replying to my own previous post this is not meant as doom and gloom. If these warrants were to be exercised then the cash recieved would be returned to shareholders if/when the mine sold. Obviously the private investor would loose out slightly but what would you rather have? 80% of a lot or 100% of nothing? If it wasn't for these guys stumping up the cash the lights would have been switched off at Europa a long time ago.
Accordingly, 3,200,000,000 Fundraising Warrants will be issued pursuant to the Fundraising.
In addition, pursuant to their participations in the Fundraising, Mr Bird and Mr Campion will be issued with 66,666,666 Fundraising Warrants and 33,333,333 Fundraising Warrants respectively (together, the "Director Warrants") and Energy Minerals will be issued with 166,666,666 Fundraising Warrants (the "Energy Minerals Warrants")
In addition, Turner Pope and Brandon Hill Capital have been issued with 300,000,000 warrants and 50,000,000 warrants respectively to subscribe for new Ordinary Shares at the Issue Price, exercisable for a period of three years from Admission
https://www.lse.co.uk/rns/EUZ/europa-metals-ltd-equity-fundraise-issue-of-warrants-and-joint-broker-axtypue6xd71fhh.html
Thats 3 816 666 665 on top of the existing shares in issue of 12 488 876 318
https://www.lse.co.uk/rns/EUZ/europa-metals-ltd-exercise-of-warrants-and-issue-of-equity-5eepvtpphrzu7ke.html
Page 4 section 9 Exercisable but at a much higher price are a further 651 716 595
https://www.rns-pdf.londonstockexchange.com/rns/3889X_1-2018-8-9.pdf
That is just the ones I can find which if exercised would leave us with 16 957 259 578 shares in issue
I have been trying to fathom out how many "options" and or "warrants" are outstanding and could be taken up.....anyone got any ideas ?
Thanks Shed, I’ve watched a couple of LR’s videos/interviews and I have been impressed but I’m always sceptical on AIM. Time will tell but he does remind me somewhat of another director on AIM who is a decent guy and with whom I’m heavily invested. I’m pretty sure LR has stated that this is not a lifestyle company for him and up until now I believe he wants what’s best for the shareholders. If he is genuine and this is played right then we could be much higher before the year is out.
ALLN - if you watch the last presentation posted from Jul 2018 there's some info on LR & MC's track record on disposing of exploration enterprises. When they first came on board after the J Tooth's departure I was quite amused by their unusually laid back demeanour, the joke soon wore thin after the well-documented errors. In my opinion LR has got us firmly back on track and is totally focussed on shareholders interests and that means packaging this up for sale. I don't believe they draw salaries and are alligned with our interests with options that will see them royally rewarded in the success case. MC also has a big holding of stock. I haven't double-checked this as I'm knackered after battling with my hedges (garden type) all day and am now tackling a couple of bottles of wine.... hic!
The strategy and fundamentals of the company seem solid but what do people make of the bod? I bought this as a punt so haven’t done much research on the personal running the company. Would be nice to hear people’s thoughts on this as I find the people in charge can make a huge difference if they don’t use it as a personal cash cow.
Slightly tragic on such a lovely day but I'm bored of gardening so I watched the presentation video again. So much to take from it but anyone who thinks there is a snowflakes chance of us attempting to transition to miner just watch from around 20 mins.
I don't see why not Nige - they have finished drilling, have all they need (LR), and the JORC will be complete early Q4 latest. In the last video link posted LR (Jul 2018) clearly states they are consulting with other parties. It's not as if when everything is in LR will stand up at the AGM and say right we've proved the resource, what now? No the disposal will have been an ongoing process contingent on exploration success. It amazes me that the SP isn't going crazy but many investors are understandably risk-averse and happy to wait until it's virtually nailed on. Think of it this way, the smallish amount I added at 0.014 could 50-100 bag, the much bigger amount I have risked at these levels might do x10-20 but assuming the assays are good I think people on the sidelines are calculating they'll get in around 0.1 and possibly 5-10 bag, and of course if it all goes horribly wrong their capital is safe.
Whilst we all want to see the metalurgy news, let's not overlook the stakeholder engagement process announced 9th Aug, with a 30 day period. So we may get one or two lots of news pretty imminently, with a third being later this month / early Q4
Exciting times ahead for investors here if you can sit on your hands and not hit the sell button, but instead be patient.
I maybe a little ahead of myself but I think an offer is going to come in very soon and who knows but this could be all wrapped up by Xmas.
What happens. Obviously it has a bigger effect on some more than others. But life circumstances often dictate. I got engaged last week and I’m on cloud 9! Sorry but I’m on cloud 9 at the moment. Hopefully within 6 months this will pay for my wedding!!!! GLA
Strange how last trade is 3.30 at 0.046 however google is showing 0.044 an earlier trade. Recently we have seen a few failed highs (including yesterday’s 0.049) that seem tactical to aid the mm’s games. It looks like large fall today but in reality still holding up well. Keep the faith and have a great weekend. GLA
Another day closer to news. Ive had another top up at these cheapy cheap prices. I dont think we'll have many more opportunities at these prices!
So on Monday it's a calendar month since 023 core was sent for assay (in-country), next week surely?
POSTED earlier, good Q/A video Lawrence Read.
https://www.youtube.com/watch?v=AftxWNvv8Co
Thanks Jodav I'm rewatching (well listening while trying to work) that one again. Still haven't found the snippet I remembered re. packaging up and selling for shareholder value but interesting he addresses one of the early deramps as we were rallying when someone kept banging on about the resource being too deep and uneconomic. LR mentions the importance of having a 250-300m egress point in the side of the hill negating a more expensive central shaft mine (17.20 mins approx).
It would depend on the offer .
All cash,cash and shares or all share swop!
presuming there is a sale and this goes to mine - is there any possibility of an option where shareholders maintain some/all their shares into production or is it black and white if there is a buyout your shares are bought for a set price and if you want in on the production aspect you buy shares in the company who have bought out EUZ?
I found this one interesting
https://www.youtube.com/watch?v=AftxWNvv8Co
https://www.youtube.com/watch?v=QhFC2kjogdA
https://www.youtube.com/watch?v=1E5YurJhIxs
'It doesn't really get any better than this' - Ferrum Crescent's Justin Tooth on Toral drill results
I think the waiting game will be over in the next few months.
As the next string of results are released it will soon become apparent if this mine is deemed to be economically viable.
IF the extraction and processing of the raw materials is straight forward it's happy days for holders and a buyer will not be far away .
Gla
videos
https://www.proactiveinvestors.co.uk/companies/news/194327/name-change-to-europa-metals-highlights-ferrum-crescents-new-focus-194327.html
https://www.proactiveinvestors.co.uk/companies/news/307672/ferrum-crescent-s-justin-tooth-thrilled-and-delighted-to-welcome-new-technical-consultant-7672.html
"We have everything we need" LR. I wish I could pinpoint it but about a year ago, maybe longer Laurence did an interview where he talks about shareholders not wanting a junior explorer attempting the costly and lengthy step to becoming a producer. Does anyone else remember it as I'd be interested to see it again?
We have a series of updates to look forward to, and clearly we expect a significant improvement in valuations but what next?
Everybody is discussing jv, outright sale etc but surely being open both along the fault and at depth, is It not conceivable that LR simply announces a new drilling programme that could both extend the size of the inferred asset and convert more of the existing asset to indicated. I’m not suggesting that this should happen but am interested in everyone’s views.