Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I have no problem with the 50% wage reduction and take on shares as it shows commitment. My main concern is this looking for another proposition. It's not the time, spend what little money we have left in the "war chest" as LR calls it on Toral. We have spent years refining/tuning, lets get Toral over the line first. More we can do to get close to PFS then surely the better position we will be in to negotiate a good price/deal.
I just see no business acumen in this BOD at all.
Thanks Chrisp…some valid points taken.
I think you speak more on the pre requisite of a PFS for any deal as an exception rather than the rule. In my time it is and has been more a rule and in our case I still think it will apply as every shortcut we have tried to take in the past has back fired on us. I think the market and prospective suitors have sussed this out and any due diligence on EUZ I am sure will be done thoroughly.
On CB front and Jubillee he will be leaving in the next 6 months….hence me thinking there is something more at play here. Best D
https://www.proactiveinvestors.co.uk/companies/news/969454/jubilee-metals-sets-up-new-standalone-global-arm-chairman-to-stand-down-969454.html
Bricks CB has left Jubilee last month I think or announced he was - he also sold out completely this time last year. This idea that a PFS is essential to sell is just not true and CB has commented on this many times. Yes, if you need a bank to lend money then you need the PFS, BFS and the DFS but that is not the case if you are going to sell to a partner. GGP did not have a PFS and EUA have a PFS with mainly inferred resources and both are worth north of £600 million. What you do need is to demonstrate that we have a mine worthy of a big fish to pay for a stake in it at the right price to forward it to the completion of works up to the mine being built.
The RNS is showing that the directors feel the asset is worthy of been developed by them being paid in shares but also the very reason they are now going to own more shares they want to use the cash more wisely. When they mention funding it can come in all shapes and sizes and Bricks you think it will be a huge discounted placing but it might well be the funding from a partner to get this to the final stage of building the mine which as happened to GGP and the SP is now up at
least 20 times.
The timing of the 'value event' is still impossible to comprehend but it could be any time from April until the end of the year and possible further down the road. Hence, I think this is the other reason for the RNS. Finally, and this is one thing I have always said and that as long as there are no unforeseen issues such as the water table the price of the resources and the running out of certain metals due to the lack of new mine exploration worldwide could see the NPV go much , much higher and the more appealing we look then the sooner that value event will arrive . However, EUZ is very high risk but is 96% less risky than when the likes of when BB/Highside invested.
Lols Highside…..how do you know I wear a hat like that ??
Anyways….FWIW…..
For those of you interested I picked up on when LR spoke about quarries and thought about the possibility of these same auarries being the opportunity he speaks about when he talks of acquiring new opportunities for shareholders and will add value to EUZ and give it a revenue stream. It makes sense if we are in some way involved in rehabilitating these old quarries and make it part of EUZ ? Interested parties can read https://www.mogroup.com/insights/blog/mining-and-metals/how-to-generate-value-from-tailings-with-reprocessing-to-be-future-ready/
I am also starting to wonder whether if Jubillee metals are involved in one form or another…CB is the Chairman….DYOR.
Good that we get advance warning of dilution for a change. However I can't see any appetite from existing LTH to part with their cash and I'm surprised if our institutional investors would also. Are there enough new investors I doubt it, so would they raise enough funds? I think a big NO = AIM RULE 15 CASH SHELL = RTO.
IMHO I think by the summer EUZ will have no WAR CHEST or a maybe a war chest with no coins and 6 months for RTO to complete would mean no EUZ by winter.
A strange interview . Lawrence looked quite bored - admitted trying to boost the SP prior to a fundraise!!! At one point he was asked a question (which are usually pre-agreed via this format) and he said the details are all in the RNS!! So why bother coming on??
Unfortunately this share is mirroring LR's hairline
I knew one day i would have to hand my pee'd off hat to someone,,,, but i never thought it would be bricks. :-)
You wear it well Bricks and i particularly like the Jaunty angle and the feather :-)
At least we know about the dilution ahead of time - expect share-price to bob along until then; talk of 10p, let alone 16p, is glib - and for the birds.
There you go then….from the horses mouth…..”cost cutting ahead of a future fund raise “ in the opening minute.
agree Bricks AimGambler is not here from the long term and a quick pump and dump. It's just noise. A few months back he said 10p soon lol.
How will this get to 16p without a PFS Aimgambler ? Current demand for this share is a big fat zero….so what do you base your 16p on ?? We already know what TP value it at….over 30p????has this helped the SP ? No it has not is the answer. Yes the asset is good and is undervalued by all accounts but I do not see this moving until PFS is imminent… and no Corporate deal will happen without one. Can you name any exploration company that has sold or JVd their asset without a PFS/BFS ? I bet you cannot….so what exactly do you base your prediction on ? A pump and dump ?
https://twitter.com/LtdEuropa/status/1486346095584239620?s=20
Proactive Interview.
BricksSA is a danger to your wealth.
Remember he bought high and sold low, yet thinks he's now the wise one?!
Do the opposite to him and you'll do alright.
16p soon
With No PFS imminent…..it tells me at least one more fund raise at least to complete it.
My belief is they can only do something with this asset after PFS. Hence my view. No I’ll intentions at all. Just need to get the timing right. I bought in too early previously. Lesson well learnt.
It’s called trading.
I sold 60% of my holdings….held 40% …..yes hoping they do another raise and it drops again and I will buy back the other 60% at a lower price….spot on Chrisp.
so Bricks you're now trying to encourage the the SP south to get in at a lower price. New shareholders need to know you agenda.
Which will be straight after the next fund raise.
Well I’m waiting for this to drop lower so I can buy again at basement bargain price :-)
Its hard to say that DB have got it wrong when they drive the price down themselves by demanding a buy price up too 40% down on the listed price at the time of purchase.
I think what people are missing here is not a question of "will" this come good or that DB are mistaken, its the size of the cut they will get if it does come good. That cut diminishes every time DB drive the SP down, the BOD award themselves shares by not buying in the market or there is yet another placing.
As i said earlier the cut to each holder has already dropped by 56% since the consolidation and will continue to fall with shares issued in lieu of wages..Its literally 80 million sharing a pay-out now instead of 35m, its that simple.
Bricks all I am saying is would DBA bother with a proxy small AIM miner like EUZ if they didn't think that paying 5p for a company with a NPV of £1.50 a share was not getting them on the cheap but of course they might be wrong just like anyone who owns the shares and does not sell like you have.
Chrisp…a bargain price is in the eye of the beholder. :-) that’s all I’m saying. I mean…really if this drops to 3p which it will do if they do another raise….would that not also be a bargain price ?
And if they disagreed with taking 50% in shares, the alternative would be to leave - but would another company employ them with their poor record of devaluing a company as quickly as Boris’s grasp for the occasional mendacity?
I think they are paying themselves in shares not because they think its worth it but because there is very little money
If they were taking salary in shares because of a value event I think they would taken them a lot sooner than now.
They might not be so keen to dilute us so much when its their investment being destroyed