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Anyone know what the target depth is and when completion is expected?
It started on the 8th so they have been drilling for 16 days now.
Got to come soon, how can this still be under a £2M Mcap? It's riduculous really! trading on an in-site resource multiple of 1.5X the stock is so undervalued and should be 25.1X! Turner Pope value EUZ at 0.095p an average between their DCF derived 0.13p per share and peer based 0.06p per share.
Good luck to all newcomers and long term holders, let's see some true value return here and some positive assay results with an upgraded JORC.
EUZ up 100% JSE....FWIW
mms mugging a few again i see. why oh why do people fall for it.
Hopef ully we will get a 'successful drill' rns for drill 3. This would help the sp up, then a decent result from drill 2 tests.
Hi Oiltap I agree with what you say and it looks as though the SP was walked down, however it has given us all here an opportunity to buy more. My original 15M investment from the days of JT was purchased at an average of circa 0.2p. Now however having more than doubled my holding, my average is now nearer 0.1p. So things are certainly looking a little more promising from where I sit. ATB Verbs
Thanks Oiltap. Much appreciated. Never thought about an NDA. As a matter of interest I suspect EUZ's MCAP will double on the JSE today.....looks like it may go up 100%.....from 1c to 2c
Thanks RA. Good stuff....one question for you though.....why have EUZ been quiet and not said anything about these heavy hitters getting on board ? One would have thought they would have used it as a bit of a marketing speel....as reading between the lines we could be in the middle of a hostile takeover bid. What are your thoughts on this ?
This will be helping the sp too :
Turner Pope Investments : EUZ - 12 July 2019
TPI is pleased to provide its latest research note on Europa Metals Plc (EUZ.L). Europa Metals is an exploration and development company focused on its wholly owned Toral Pb-Zn project in NW Spain. The company is currently drilling Toral’s high-grade core with the aim of collecting a bulk sample for metallurgical testwork as well as increasing confidence in the current JORC (2012) compliant inferred mineral resource estimate of 16Mt grading 3.9% Zn, 3.1% Pb and 24g/t Ag. Currently trading on an in-situ resource multiple (US$/t) of just 1.5x, the stock is significantly undervalued compared with our peer group multiple of 24.8x. As such, we value Europa at 0.095p per share which is a simple average between our DCF derived (0.13p per share) and our peer based (0.06p per share) relative in-situ valuation. Our blended valuation offers significant upside to the current share price.
0.095 ! that is a 5.5x times the current sp.
no fall back at end of day which is good. I hope the news of drill 3 completion is not far off now, this with the test results from drill 2 could help a lot in task to get back to a realistic sp.
Anyone know if the statement on the company website is correct . i.e : "Percentage holding of 20 largest shareholders 86.80%" from here http://www.europametals.com/site/investor-information/capital-structure
If so it should move very quickly back up on goon news.
Price has been raised specifically to entice sellers imo, what they got was more bought than sold so I expect higher prices this week. Now is not the time to be selling!!!
Thinking in fractions of ZAR cent would hurt anyone's brain!
We pay premium, jse cant trade shares below 0.01 zar. Unlike aim where you trade on gbx which is a fraction of the gbp. In south Africa we do not have a fraction currency for the Zar
Its a good sign because the JSE has been stagnant for a while now...with minimal trades taking place over the past 3 months. The average is not even a million trades a day....so 17m is excessive which imo is a good sign. When I said we are paying 4x more per share...do the maths...1c =0.000575154 GBP and they were trading at 0.00014 ..... currently trading at 0.00018 which is about 3x cheaper on LSE than JSE.
Hi can you explain why it is a good sign, and also why you have to pay 4x more? i dont understand. Thanks.
I have bought quite a lot today.
17,911,746 M traded so far on JSE today.....:-) ...Good sign.
We all know it's undervalued and with news due from the latest drill, new JORC and metallurgical values you're bound to see long term holders and observers to buy.
If this gets a 10th of a penny then we're all making good money from here, half a penny would be better - but all in good time.
Their is a nice video on pro active as well. Uploaded the other day.
Well, I'd certainly applaud the removal of the imbecile who's overseen this huge reduction in the SP - and yes, that's absolutely my pocket talking.
If it really has, it will be up again tomorrow. But as I suspect it will be back down.
Drill 2 waiting assay results
Drill 3 being well...drilled
Institution that has taken a large stake
...seems plenty of reasons to me for a potential rise. Maybe a curveball with new management announcement (who knows)...
........and whilst that great news and very welcome for new investors (well done on your entry point folks), there remains a way to go before many get back to level (especially if they haven't got funds to average down).
Nonetheless, good luck all.
Do you need a reason for a drop on no news? Well the same applies I guess. Once sentiment changes it has a very positive effect on the SP. I think the catalyst here is that we have had recent work on Toral and everyone is loading up for the Assay results. Also as a contrarian investor it's good to buy at the bottom when everyone else is selling!
Cheap as chips up 36%
Thanks Shatner. Do you not however need a catalyst of sorts to initiate the rerate? With no additional Sens on official news, can one really read anything into these sales and rise, or will it probably just drop back down tomorrow?