Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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RE: Topped up again16 Jun 2023 22:22
Six weeks until ML application deadline. Will we get the Denarius' new PEA before then? Suspect we will as the conditions include a near PFS level of economic report. That could be very interesting as a lot of work including JORC upgrades have been completed since our own PEA.
Sounds like 3/4 years worth of work. As long as I get my 8p by then :)
My timetable shed:
Confirmation drilling started and MLA in
Confirmation drilling results RNS'd
MLA agreed
More drilling on Toral to increase the block and applying for an exploration license for Antonina
PEA done for Toral - the later the better if not being used for the MLA
£4 million spent, MLA agreed and PEA done
Option 1 complete
To be honest CHRI5P my opinion is that if the new PEA is a requirement of the MLA it would be based on the last EUZ Nov 22 JORC as a JORC on the current drilling is some way off, so I genuinely don't know. If by 'extension to the area' you mean enlarging the block model I'm certain that's not happening for now, certainly all Option 1 drilling will be within the current block model. On the MLA I don't know if the 31st July deadline was imposed by EUZ on Denarius as a condition of Option 1 or by the Junta on EUZ as 100% owners until the JV is triggered. Either way if the deadline is not met I can't see EUZ claiming the $4m loan off Denarius for $1 anymore than the Junta chucking us off the licence later this year. Not in anyone's interests, much more likely an extension of the deadline.
By the way isn't Friday the last day before the mining licence application has to be in ? or is it Monday when the SP rockets ??
Now if you had said bricks had sunk to the level of the SP here i would have understood what you were getting at.:-)
As it is you just had to attack the posters rather than defend the company and that is always a sign of someone who's on a losing wicket ( unlike the Australians ).
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That makes sense Shed and the PEA would be on the new drilling data. We now are waiting for more drilling results and an extension to the area.
CHRI5P I'm not sure if the PEA has to be part of the MLA or not but it does say in the presentation that it requires CAPEX and OPEX calculations close to a PFS level of detail. Other requirements listed look like components of a PEA to me so who knows?
Hopefully not back to the old days. We can all have opinions and speculate on the RNS's which I might be quilty of but completely disingenuous comments need to be put straight.
I am now thinking that we would only get an RNS on the MLA if it was not applied for in time because that would be material difference to a previous RNS so I am thinking it has been submitted. However, what about the PEA? It might be that the MLA can be submitted but can't be agreed without the PEA which will follow. All we have is the RNS's and a material change of one IMO would require a new RNS.
Well I couldn't help having a bit of fun with Highside's 23:28 meltdown - I mean have you read it? But to be fair this little volley of posts started with some scaremongering based on inaccurate information which needed to be put straight. I'm not going to apologise for that.
Wow I very rarely post these days as I've kinda mothballed this stock for a few years in the hope we will reach the 8p's by 2026/2027. What's the point in bickering with each other, the focus should be on Myles and the people running this comedy club.
If we hit 8p in the next few years there will be a mass exodus of LTH selling to break even and saying goodbye to EUZ. Well that's if EUZ can last that long :)
BricksSA sorry for the comparison it was a bit below the belt. No one could be so bitter.
Ha ha what a gem! How dare you point out a glaring inaccuracy CHRI5P, only the entitled liberal elite would have the audacity to apply such logic, sickening.
At least he hasn't reached your level Cri5p. :-)
Hundreds, maybe even more have lost out here. amounts dont matter, £100 to one guy is £10000 to another. A vast majority will never see their money again, Why ? Well its either a very poor Asset or its been very poorly managed ?
I dont see anything wrong with the asset, do you ?
You show all the signs of this sickening liberal lefty Woke nonsense. You are right, everyone else is wrong and as you dont agree with them they should shut up and go away ? Well tough luck mate, i think i have paid in enough here to have my say whether you like it or not..
As for the condescending Bulls*"t about reaching my level ? you have a long climb ahead of you to get even close. :-)
Brickss I never thought you of all people would get down to BB levels.
Furthermore EUZ own EMI 100%, EUZ can't be sidelined by a EMI / Denarius JV. In any case the JV doesn't happen until Denarius fulfil their commitments.
I'm really saddened to see the chicanery of certain ex-holders here - the last exploration permit was acquired in Nov 2020 and runs for three years:
"The Investigation Permit has been renewed, following, inter alia, a consultation process conducted by the relevant bodies of the Junta of Castilla y León, for a further three years until 15 November 2023". (Nov 2020)
As for the MLA it is a condition of Option 1 which until completed as CHRI5P says we own 100% of Toral, if Denarius fail to complete Option 1 we keep the loan (or what remains of the $4m) which covers Option 1 works:
"In the event that the First Option is not exercised, Denarius shall be required to assign the loan to Europa Metals for US$1".
Chrisp….read my post again slowly please……got no idea what you ranting about.
BricksSA can I spell out to you DENARIUS OWN ZERO OF THE OPTION 1 UNTIL THEY HAVE SPENT £4 MILLION AND HAVE COMPLETED A PEA. Is that clear enough
BricksSA you really are delusional if you think Denarius will not lose everything they have invested in EMI so far if the MLA is not in. I expect you sold EUZ to buy Denarius and now are massively down again.
Well let’s see what happens with the MLA. My understanding is exploration licenses are only valid for a year in Spain and they have already got the current one extended.
If they miss the deadline I think it could be curtains for EUZ and EMI/ Denerius JV will have everything handed to them on a plate…..at great cost to EUZ holders.
So I’m essence Shed is still all jam tomorrow…maybe. Been like this now for 4 and a half years. BODs are crap andb this is a lifestyle company, and it’s not even good at that. This will go to the wall and it’s just being dragged out by Directors so they can take their salaries into the bitter end.
No, because the money wouldn't have been procured without the innovation programme, it had to be specifically demonstrated that it was directed at gathering the drilling data. You could have argued that much of it went on the wages of the graduates involved in the CTDI project but that would have taken a little mental agility. As it happens I also think remuneration is too high, of course I would given the SP performance and yes my investment is doing badly. Unfortunately AIM wages are scandalous and we're operating in that market. You might have forgotten that the remaining Directors now take half salary with the remainder made up in shares in the deferral scheme, if EUZ is ultimately successful they will do very well out of that arrangement also so trust me I'm aware they know how to feather their own nests. Anyway the programme created some positive local engagement which should help our relations with the Junta and we could also have a marketable product if the correctional algorithm is of value to other explorers. Time will tell on that one.
Doesn't make a lot of difference if they use this money, or if it frees up other money, it pays the wages all the same ...
Anyone want to hazard a guess at the millions spent on BOD remuneration since the purchase or Toral ? How's your investment doing in return ?
Anyone wanting to take a serious look at what the grant was for here's the original RNS:
https://www.lse.co.uk/rns/EUZ/grant-awarded-to-europa-metals-t9zsgztnjk7q5hx.html
Note the loan element is fixed at 0% and 30% is not repayable, so I would describe it as a soft loan / grant.