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I said it yesterday and I’ll say it again today, things aren’t as startling as they ought to be, given the news that we’ve been waiting for, I think someone has had a heads up and now it’s panic time in the boardroom. I do absolutely agree with you MFM, how can you raise money with no plan on what you’re going to do with it. Unless of course it’s to give yourself a nice big fat pay rise. All funded by us idiots who keep hold of our shares, whilst the fat cats get let in a bargain basement prices.
I find it hard to believe that LR is as dumb as he appears to be. The only other option I can think of, is that there will be some good news coming (J/V most likely given if it was a sale, there would be no need for the raising). Clearly, they would need to wait a few weeks before 'agreeing terms' with the placees doing very nicely. Ie. the placement is about a transferance of equity (wealth) from existing S/H's to the select band of placees. Ie. pure greed
What you say makes a hell of a lot of sense my first million…you are using logic to create the binary outcome with which I agree. However, knowing what we have just gone through ….total incompetency by All and sundry….maybe…just maybe they are clowns and don’t know wtf they doing…..@Teaye….I don’t need to or want to talk to him anymore.?..anyways…I’ve made up my mind…I’m going long until some form of deal….then selling up immediately when I’m in the green. GLA.
Some interesting replies. Yes I could well be kidding myself and grasping at straws. I'm fully aware of that. If I am completely off the mark with the sale or jv (with someone else operating Toral) then as far as I'm concerned we're done for.
Why? Because the placing rns and subsequent interview were appalling. How the hell can you raise cash firstly without having a proper plan for Toral that states that it is definitely funded to PFS. Secondly why not use the cash to take it to BFS? Or we'll into it. The worst part is the complete lack of focus when he talked about half a dozen metals and 4 continents where we might invest! That basically says that they've done zero due diligence. So factor in time to decide what metals you're looking for, which continent you want to invest in then time to actually find a company and then do the DD and what if it shows that it's not as viable as you first thought? Back to the drawing board wasting x number of months to locate another company all the while burning through cash. This plan is the definition of insanity!
No one and I do mean no could surely be this stupid. Which leads me back to my hunch. There MUST be a sale or jv of some sort for Toral. If there isn't then the whole board should resign immediately it's as simple as that because nothing else make any sense.
why would you trust more money with this teenager CEO of “a grown-up company”?
“... project acquisitions prospective in high demand commodities such as copper, lithium, gold, iron or nickel in regions including Europe, Australia, North America and select parts of Asia, Africa and South America;”
You have already one! high demand commodities project.... not potentially low cost? #teenage CEO fail.
“Potential low cost project...”
Because nowadays everyone want to sell potentially lucrative commodities projects all over the world for glass beads and cast iron pots.
In a couple of years grown-up teenage CEO will declare... Europe, Australia, North America and select parts of Asia, Africa and South America is not prospective enough any more! With Tesla and Bezos rockets today's Fundraising of £1.5m provides a stable platform for Europa Metals to seek to build our operational success on The Moon...
Wouldn’t want to be out of EUZ - this side of Christmas.
You are both probably right, speculation has lead to this weeks disappointment. Had we just gone by the facts then the placing would have been expected and the EU would have had a small look in with a small loan to help a uni project.
Lets leave it and see what happens with the results in a few weeks if nothing else happens in the mean time.
Probably should have listened to yoda when he was here he said 4p wasn’t far off either
All I know is that we have all speculated on theories for months/years and not one of them correct. It even looks like new theories are once again building into hope which I find remarkable.
They say love is blind lol.
Judge EUZ on its past and not theories. It's time to listen to Gam, Roger and others.
Shed
That was my hope/thinking behind my "happy hat" post . Could a new BOD member with skin in the game and experience in the second stage here( after the ground work) be on the cards.
Even if you add
The Company intends to issue a further 5,434,676 new Ordinary Shares (the "Second Fundraising Shares"), to raise gross proceeds of approximately a further £270,000. The issue of the Second Fundraising Shares is conditional, inter alia, upon the approval of Shareholders at the Company's 2021 Annual General Meeting proposed to be held on or around 30 November 2021, formal notice of which will be notified to shareholders shortly. Subject to Shareholder approval, the Second Fundraising Shares are expected to be admitted to trading on AIM on or around 1 December 2021.
This adds up to over 30 million I don’t get it can someone explain?
I think if LR and co wants their 270,000 they need to exercise their warrants at 8.89p each get LR and MC to put some skin in the game
Well I sympathise if that is your situation. On the current shares in issue I would have said 65p was far from impossible, of course the mcap will soon have more mouths to feed so goodness knows. Something that occurred to me today is that we haven't had the usual comment from the CH on the RNS's, total speculation but maybe changes at the top with a representative of the new investors coming on the Board? When MC became Exec CH we didn't fill the seat of Executive and Technical Director, I sense change in the air.
The shares don’t even add up on this RNS
The Fundraising has raised, in aggregate, gross proceeds of £1.5 million through the placing of 19,527,920 Placing Shares to certain institutional and other investors and a subscription by certain other investors directly with the Company of a further 10,472,080 Subscription Shares in each case at a price of 5 pence per share (ZAR1.01).
As noted above, the Fundraising comprises a placing and subscription of new Ordinary Shares to be effected in two tranches. Accordingly, the Company will issue 24,565,324 new Ordinary Shares (the "First Fundraising Shares"), to raise gross proceeds of approximately £1.23 million, to participants in the Placing and Subscription under the Company's pre-existing share capital authorities to allot equity securities granted at the Company's annual general meeting held on 30 November 2020.
It’s nuts
If you were in Total despair you would probably be looking at an investment that had shrunk so far it wouldn't be worth taking away in a heart beat :-)
The despair comes not because you might not get your 5p back up to 10p and double your money as it stands, it comes because its never going to go to 65p and get all your money back ...lol
Props I'm not trying to gloss over the fact this is a badly discounted placing but the bottom line for anyone sticking around is that these investors don't plan to lose on their 5p shares. They could be wrong just like DB have failed thus far with their 12.5p tranche but we at least know that some industry analysts have seen something they like, even if it is at this miserable price. I would add that I do think EUZ have made a somewhat bizarre communications error in announcing a strategy of possible acquisitions before the news we all need to have to be confident it's feasible. So believe me I'm not much happier than the posters pouring complete derision on the situation, I'm just trying to unpick where this is going in as constructive a way as is possible in the circumstances. If I was in total despair trust me I would take my depleted investment away in a heartbeat.
They probably endorse the strategy because they can indulge themselves in a ludicrously discounted placing in a desperate cash-strapped company whose BoD’s modus operandi has been to continually dilute while delivering no material increase in its market-value.
With ref to mfm's post, "pursuing further geotechnical drilling to assess key areas for future plant location and potential tailings storage facilities and to compliment metallurgical and waste analysis work", doesn't sound very exciting does it but if you have any faith left (there must be a few of us) that sounds to me that we have jumped through sufficient hoops on the resource and are moving to essential practical elements of the mine plan. Yes the situation is grim for LTH's but it appears that the new investors are endorsing the strategy, unfortunately being able to drive a horribly hard bargain in the process, to the detriment of LTH's.
Owing to LR’s monumentally embarrassing failure to add any market-value to EUZ - despite the torrent of good news over the last twelve months - he desperately wants to be part of the in-crowd who benefit from rising share-prices because they inhabit the world of in-demand metals; is he therefore fretfully partaking because of FOMO, or out of a calmly well-thought-out plan (discussed with the new investors) that will genuinely add value?
i dont want to pour cold water on your idea MFM because i dont have a better one but if he has diluted us to this extent for another 12 months ...just before announcing a deal on Toral then why ? I very much doubt he would be selling shares at a 40% discount if he knew that those investors were going to strike rich any time soon.
sorry i think you first " utterly preposterous" idea fits in historically with this BOD thinking..
Ok so I've just watched LR's interview. More of the same old same old no surprises there. Waffle waffle, faff, metals, countries waffle waffle. Don't really say anything. This guy should definitely be a politician.
Now for the point of my post. I see two possible scenarios here, one is terrifying and the other could be very good.
First scenario they're doing exactly what they've said and are looking to buy another asset somewhere around the globe that has some metal that is or could be in demand. Extremely vague and concerning given that we don't have a PFS for Toral, we don't know if the PFS would be fully funded once an acquisition and general working expenses are taken into account and if it is funded then what do we do with it? On top of all that if we do buy another asset how much is it going to cost to get that to a minable outcome? All utterly preposterous and terrifying if you have a large chunk of cash stuck in this.
The second scenario is that something big is going on that isn't ready but obviously can't be disclosed yet. A sale or JV of Toral through to mining. The more I think about it this is actually starting to make more sense. It's the only option that makes any sense!
Let's look at the evidence for the second scenario. The guy they brought in to do a corporate deal, nothing announced as yet but we haven't heard that he is no longer contracted. Buying another asset, could this be because a jv partner will be acting as operator for Toral so they want to be proving up another asset or because Toral is sold outright? Then we have LR's 'value event' comment. Finally institutions buying into this placing and the large open market buys since the announcement.
I have no idea but the first scenario seems absolutely bonkers to me and makes no sense whatsoever. The second does make sense, as I said it is THE ONLY idea that makes sense. After having had a day to reflect my hunch is that a deal of some sort has been done for Toral, it is only a hunch and maybe I'm grasping at straws but I hope for all our sakes my hunch is right.