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BricksSA, I did ask the company via email if they had a current list of exercised warrants, unfortunately I didn't receive a reply. However, by my calculations, the company would receive in totality (from Lloydyboy's figures) £1,594,500 if ALL warrants are exercised.
A total of 5,378,000,000 shares, added to the current share total of 16,556,000 - an increase in shares (or dilution if you regard it that way) of 32.48% for the allotted funds.
Those allotted funds are £1.6m vs a current M/cap of £5m - a funding contribution worth 31.19% value to current M/cap.
By my thinking, if the SP increases as the Warrants are exercised (and it does need to rise to .0375 for 37% of those warrants), the company will be in a stronger financial position to carry out he plans LR alluded to recently.
Happy to corrected.
Bricks, surely the saying goes, "A bird in the hand complains of sexual harassment"?
Yep.Im with you...its called a rights issue. I have asked them before why they dont do this but apparently it is a lot more expensive to do a rights issue. You need to consider EUZ has not got a lot of Tom to spend on things like this but I understand and share your frustration. My take is that the value added ultimately to the asset will far exceed the cost of these funds and the dilutive effect it has on our holdings. This will show in the SP in the very near future.
I cant help but feel all of this is just background noise in the grand scale of things. LR’s rhetoric of late has included the word ‘de-risking’ a lot, and that’s like music to the ears of a potential development partner or a buyers. I’ve tuned out of the daily SP fluctuations, (and can’t see why people would sell when warrants are exercised, that’s just thick). This will simply multiply once it’s been de-risked enough, which I’m quite sure will happen. All IMO of course.
@Bricks I agree with what you are saying I don't know how difficult it is to raise cash, I'm not clued up on it just have experience in being in ANGS when the director put out a chance to for PI's to take part in a fundraise which calculated by how many shares they already held which then allowed them to buy a certain amount. Which leads me to think if EUZ management was a lot better and managed to maintain the share price if you offered the chance to existing PI's the chance to buy 10-15% below the trading price I'm sure a lot of people would of. I never understand why boards bend over backwards to institutions when there are a lot of PI's willing to put more money in but in the end just get shafted continuously.
Just my thoughts
Beef
@ Beef....I guess it could have been done better but as the saying goes....a bird in the hand is better than a bird in the bush....Lol...well it used to be anyway.... But on a serious note equity raising has been very difficult for many explorers recently but I think CB sums it up rather nicely in the annual report....
"As noted above, the initial part of the year was not without its challenges, with some of the worst equity market conditions for mining companies that I have encountered in my career, reflecting a combination of factors including uncertainty within the UK investor community over the domestic political situation and wider, industry issues, such as the US-China trade discussions continuing to drag on without resolution. This regrettably culminated in Europa Metals raising funds at a sizeable discount to the prevailing market share price towards the end of March 2019, albeit introducing a new strategic investor into the Company."
And by all accounts DB are strategic as I have NO DOUBT WHATSOVER they will exercise the rest of their warrants at the appropriate time.
ambitious, it is never easy to raise on aim with a favourable deal generally. The best I have seen lately is UJO where the sp actually went north. It is a hard and specialised task and with the daily price fluctuations there has to be meat on the bones and security for the providers. Some comfort should be taken that the raise was higher this time than last. I also feel like warrants don't really count as they are in the public domain already. The mm's just take the pi55 when they convert. Shock
I have been invested in here and I think the asset is sound! my only problem with this company is the management, I have been looking around at other shares and the way the BoD operate and just seems to be a lot better than this share. how a company can have no respect for the SP when at this present moment in time they are not profitable is beyond me. obviously looking from the outside is a lot easier but how they raised at such a low price was only going to end one way. they just don't seem capable of closing out a good deal at the moment. that's just my thinking.
the asset is great just trying to keep balanced argument.
Beef
Thanks for the thumbs up.I am not well informed. I am well researched and I do a lot of homework....:-) On DB, BH ...their holdings etc....Also very very very confident with the Toral asset ultimately being mined or sold off.... either way one has to be in to win.
You are one of the few posters on here that are worth reading and appear well informed. It would be a huge loss if you left.
gobsmacked if this does not head north into close.....
Yep...I agree......mat and RA1.....wonder what happened to them....I thought maybe RA1 worked for DB......pumped it up and then they dumped.....professing to have 170 million.....:-)
I try not to be too cloak and dagger but without naming names because (after all I'm only going on instinct) a now absent poster was asking me about my holding weeks ago. No way I'm disclosing any figures to anyone I don't trust as I assume they wanted to build a picture of where LTH's might be exiting. For what it's worth I have a pot in my trading account which I will sell depending on where JORC and Mets take us, I plan to keep my ISA holding for the endgame. Oil, like you I see us being taken out and personally I don't think it's inevitable that we will drill again. I found LR's comments about the Mining Engineer Jesús Montero wanting to take this to a mine really interesting, that's either a hint that potential partners are in the wings or a message to buyers that they're going to have to get serious because we're about to get more expensive.
Average now at .0345 I know what you mean on posting the strategy but you can always sell euz easy on big volume days. Now we are being played with by the mms trying to create a market and 10mil Mcap could be tomorrow or 2020. Who knows
Lloydy - your call but I would be cautious of sharing the details of your strategy when there are so many disingenuous posters about.
i have now accumulated 100,000,000 shares to hold for a £10mil mcap. lets do this
RNS
"We are NOT so frigging pleased to announce.. .."
LiL
Yes it will be interesting to see how they head the forthcoming announcements. Throughout the drilling campaign they clearly chose not to use any emotive language in the opening pars. Would be odd to change that now but people do look for the "are pleased to announce". Mind you I've seen some disastrous RNS's across AIM with that at the top!!
Thanks Shedulike....as always these AIM resource stocks are chavvy. But i scaled in (at a much higher price) and then watched with horror how the company erroded by investment. But I have now scaled in 10 times bigger at this price. the results of the 58kg are key....more important for sentiment than the JORC that most readers wont read and go straight to the CEO conclusion LOL. If EUZ are reading this, please make the heading of the RNS positive as most investors based on that one sentance will hit the buy button to catch the incoming price increase!
That's not a bad analogy PSSW stop being so sensible, don't you know when we have red it's traditional here to go hysterical? I found CB's comments in the final results interesting, after talking about the JORC he moves onto the Mets with "More importantly, a 58kg core sample was retrieved for metallurgical testwork". I think they know they have the resource it's now about proving the economics of mining our products, as you say can they flow?
absolutely PSSW at this point for me it is all about current Mcap against what the JORC will bring to the party. There will be a clear discrepancy between Mcap and resource. That means blue and correction.
To be clear im obviosuly not saying we have oil (LOL) Im using that as a comparison with our Minerals which we need to prove can potentially flow!
Outrageous allegations :)
Look at MATD today.....been bad news followed by bad news. But they like us finally proved that they had oil and it flowed. A rerate this morning (at one point 100%). No reason at all why this cannot be the same at EUZ. We have minerals, the JORC will reconfirm this and even better the Mets will show how to get them out of the rock (akin to a flow test imo). Warrants exercise will happen, I think they are pretty much cleared already - and who cares they amount to 41K. Hardly life changing. The MMs of course marked down on the 16 million sell. Its still early in the day, this will come blue again today.
Fair enough too Lloyd- it does seem like Shed has mis-led us all ;-) .
Gla