Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Work for the PFS has been underway since Bara recommended we progress to this level last year. The JORC in the PFS will be updated and will build on the 17Mt announced last August, it is up to AMS whether Cu is included based on the data we have given them. Highside - did you really think the PFS would use the JORC from last year and not include the current drilling? Here's a not so cryptic clue "This latest drilling campaign forms part of the Group's Pre-Feasibility Study ("PFS") workstreams initiated at the Toral Project" (Jan 2021).
In July they stated the PFS was underway based on 17mt including Zinc ,lead and silver.
Presumably copper will not be included ?
Grappa I'm sure there will be sellers at all levels, there always are. For me it depends on the news that drives any rise. If it is solid operational news with funding certainty I doubt I'll sell any until much, much higher than 15p. If we get in a situation like Jul 2020 where it looked frothy with the extraordinary gains on JSE I might take some off the table, as I did then.
I also think lots of investors are on edge. If we get to 15s I think lots will sell and bail out and run for good.
If the SP doesn't start going north soon and significant news will only have minimal impact. If and I say if, any significant grant won't get us to 10p currently. We need positive news on JORC and PFS to get the SP up and then news on a possible grant could get us back to the 13s.
Highside, agree on the first point. They will not give money without some guarantees. 2nd point don't agree and think scheds reply covers that. Agree on last point. LR needs to start getting the buckets and bail out the water.
Nothing has been withheld, as stated in October 2020 - "Europa Metals will draw the Grant monies down in up to three tranches, with the prior agreement of the CDTI, with the initial tranche, comprising an amount of €163,380, to be received by the Company imminently. The second and third tranches are scheduled to be drawn down over the next 18 months subject to certain, defined, operational milestones". Yes 'imminent' didn't prove to be imminent but the original plan was to start drilling before Christmas 2020 and the grant delivery was dependent on completing the data to satisfy 'milestone 1', we couldn't do that without the drilling data.
A few points worthy of debate ?
I would imagine that any money from the EU would need to be at least matched by the company if only to satisfy the EU that the company they are investing in is solvent.
Why has the 2nd part of the current grant been withheld ? is it because of doubts that they will get the proportion that is a loan back ?
The RNS did say "we are actively involved in a number of initiatives that we believe could potentially lead to a major value event" So its not just one initiative that has failed to provide a major value event, its a number of initiatives that have failed.
I note that even the diehards are now starting to cover their backs as sentiment is going backwards much like the SP down 42% from 13 to 7.5.
When all is said and done it will be interesting to see if Lawrence does something tomorrow to rescue the sinking ship or if he is happy to sit back and watch
No you're right no guarantee as yet, but I think the picture is becoming clearer which is why I wouldn't discourage posting the research links, some will inevitably be more tenuous than others. I thought the REMIX stuff was interesting as it showed the regional appetite for regenerating mining, the evidence of retraining for the mining sector, top brass visiting Toral and so on. All encouraging but nothing guaranteed as yet.
I agree keep an open mind but don't assume it's a given. There could be 100s if not 1000s of applicants of which many could meet the criteria more than us. Nothing in this world is guaranteed.
Personally I think we all should keep an open mind on grants. Yes Mm's finds don't mention EUZ but they show that there is an unprecedented 'grant environment' and I can't really see why we'd be excluded. If we get to the stage in the grants process where we start seeing announcements of other projects being favoured but no mention of us then it wouldn't look good but for now it appears that it's all to play for. Yes there are metals that have more obvious green appeal like Lithium but there are applications for Pb-Zn in the battery sector plus we're at last pushing the Cu a bit more. On top of that you have factors like the circular economy, supply chain security plus jobs and ancillary prosperity in the region, all making the case for the Junta to give its a helping hand.
The value event didn’t say guarantee. It said could. Like saying to someone I could do that for you then you let them down. Big deals like government funding don’t happen within 6 months can take 12-18 months if not longer.
No mention of EUZ but everything everything this company has followed government guidelines on to get funding.
Job creation 200 jobs
Economic growth 500,000,000 profit 12 years
Something with an innovative character (one product is a deviation tool that EUZ gets a royalty on)
All there pieces are coming together exciting 5 weeks ahead for sure
Bricks. I detect the usual passive aggression from you. Nobody needs spoon feeding, it's public domain information on the www. Plus it's naive to say that because AH said we are applying for grants that we will win these grants.
Almost a bit like announcing a value event that doesn't materialize :)
And would you honestly think that by getting AH on board and publicly stating we are applying for EU grants that we will not get one ? For me it is a no brainer…however I do understand that some investors need to be spoon fed.
Grappa…yes no mention of EUZ….however it is clearly stated in our webinar presentation this is the fund we have applied for a grant from….and what it shows is these funds are now being released. Patience must prevail. Our time is soon….GL.
Long read of last 3 posts and no mention of EUZ
Access to the European Funds
One of the main instruments to qualify for the EU New Generation Funds are the Strategic Projects for Economic Recovery and Transformation (PERTE), strategic initiatives with great dragging capacity for economic growth, employment and the competitiveness of the Spanish economy, which require public-private collaboration.
Any project to be declared PERTE must contribute to economic growth, job creation and the competitiveness of Spanish industry and economy; that allows combining knowledge, experience, financial resources and economic actors, in order to remedy important market failures; that has an important innovative character; and that favors the integration and growth of SMEs. Likewise, these projects must be tractors, transformers and in line with the axles established by the European Union.
Fernández Carriedo explained that the Community expects to obtain at least 5,000 million European Funds, 6% of the 84,000 million euros of the Next Generation EU program destined for Spain, of which half must be managed by the Board and the rest by the state. Likewise, he stressed that the Board is the first autonomous government that encourages more participation to promote initiatives related to the Next Generation Funds.
September 24, 2021
Castile and Leon | Ministry of Economy and Finance
The Minister of Economy and Finance, Carlos Fernández Carriedo, presented today in the session of Active Audiences of the Economic and Social Council (CES) the presentation on 'Castilla y León in the face of the opportunity of the new European Funds', in which he explained the work being done by the Junta de Castilla y León regarding European funds and the rest of European financial instruments to face the challenges posed by the economic crisis caused by COVID-19.
The European Next Generation EU Recovery Plan will promote digital transformation, sustainable development and the green challenge, objectives that coincide with the modernization strategy being carried out by the Junta de Castilla y León, and which includes economic, social and territorial cohesion of the Community, advancing in rural development and the demographic challenge.
5,000 million
In this sense, Fernández Carriedo explained that Castilla y León aspires to receive, at least, 5,000 million euros from the Next Generation EU program, so that of the 84,000 million that Spain could receive in subsidies, the Community should reach no less 6%. Likewise, the counselor has argued that half of this money that would have to reach Castilla y León from these funds - 2,500 million euros - should be managed directly by the Board, while the management of the rest would correspond to the State. The Government of Spain has confirmed so far an initial allocation of 1,554 million from the funds.
On the other hand, the Junta de Castilla y León has been the first autonomous government that encourages more participation with political representation through a working group to analyze the funds and monitor the distribution and management of European reconstruction funds after COVID-19.
458 projects and more than 6.8 billion
The Junta de Castilla y León, in order to undertake the reforms that allow economic recovery and reactivation and overcome the effects of the crisis, is approaching the management of funds from coordination and participation.
Thus, after the signing in June 2020 of the Pact for Economic Recovery, Employment and Social Cohesion in Castilla y León, signed by the Government of the Community and most of the political forces with parliamentary representation in the Cortes, in September created the European Union Fund Coordination Office with the aim of optimizing coordination in the management of European funds. In addition, the Board prepared the document 'Recovery
5 Billion has been announced for green initiatives
https://comunicacion.jcyl.es/web/jcyl/Comunicacion/es/Plantilla100Detalle/1284877983892/NotaPrensa/1285094975665/Comunicacion
Exactly they bought a up and running mine. A very different story. Think I said could be us in 5 years
It was posted yesterday and was very good news for somebody. Just not us.
This was posted yesterday. Old news
A west australian copper company is aquiringing a spanish copper/zinc mine. Clearly the jurisdiction & copper/zinc are very much in demand.
STRONG INTEREST
Sandfire swamped on raising for Spanish acquisition
Sandfire Resources is understood to have been swamped with interest in a $1.26b equity raising for the MATSA copper-zinc mine in Spain despite a mixed reaction from analysts.