Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Yes I know lor - have similar feelings though I was about to make the same point as Mm's. Are we limping with dwindling funds to another placing or about to announce a complete funding package that clears the path to development - "Death or glory becomes another story" :)
Can’t imagine top shareholders wanting that. They are already significantly down on their 12.75p not one of them sold at the last spike.
It's so difficult to know what to do here. On the one hand we could be on the cusp of something incredible, with a partially EU funded, renewable energy powered, best in class ESG mining operation in a region with amazing stakeholder support...but on the other and you wonder just how much money is left and whether a heavily discounted placing is going to be announced diluting us all, with the broker cutting deals with high net worths and again all us loyal shareholders will lose out. Please please please don't do this Europa!!!
"The mine to smelter gate formula used by Skarn particularly pertinent to Europa as we move forward with various initiatives" - there was some Mayoral comment a while back about a potential green smelter project in the region. Maybe this is the plan and explains why there hasn't been any smelter compatibility work with Glencore yet. Got to be honest and say I don't know if that would normally be expected as a component of a PFS and haven't been able to get a definitive answer but the question was put at the analyst event last year and not tackled head on.
New LinkedIn post
https://www.linkedin.com/posts/europa-metals-ltd_20216skarnbulletinpdf-activity-6813227978852564992-caqZ
If you want the source for below
Mining operations
https://www.lawinsider.com/dictionary/mining-operations
They can’t give news on finance yet waiting on full signature. It’s happening huge huge news just missed ..IMO
Read it and apply the above
WAI is a leading, globally recognised mining consultancy with a track record of conducting all levels of technical study required on projects that have successfully been financed and developed into full mining operations
Mining Operations means every kind of work done on or in respect of the Property or the Minerals derived from the Property during the Option Period by or under the direction of the Optionee including, without limiting the generality of the foregoing, the work of assessment, geophysical, geochemical and geological surveys, studies and mapping, investigating, drilling, assaying, prospecting, designing, examining, equipping, improving, surveying, shaft-sinking, raising, cross-cutting and drifting, searching for, digging, trucking, sampling, working and procuring minerals, ores and metals, surveying and bringing any mining claims to lease or patent, reclaiming and all other work usually considered to be prospecting, exploration, development, mining and reclamation work; in paying wages and salaries of workers engaged in the work and in supplying food, lodging, transportation and other reasonable needs of the workers; in paying assessments or premiums for workers' compensation insurance, contributions for unemployment insurance or other pay allowances or benefits customarily paid in the district to those workers; in paying rentals, licence renewal fees, taxes and other governmental charges required to keep the Property in good standing; in purchasing or renting plant, buildings, machinery, tools, appliances, equipment or supplies and in installing, erecting, detaching and removing them; mining, milling, concentrating, rehabilitation, reclamation, and environmental protections and in the management of any work which may be done on the Property or in any other respect necessary for the due carrying out of the prospecting, exploration and development work.
I think we have missed some big here
WAI is a leading, globally recognised mining consultancy with a track record of conducting all levels of technical study required on projects that have successfully been financed and developed into full mining operations
This implies we have been financed. It doesn’t say to be financed it says have been financed!!!!
In context I suppose WA can be classified as a strategic support group :-)
Well we know that they are working with strategic support groups at the moment….this last bit gives it away….definitely has to be an announcement soon.
Specifically, financial support for these Cornish pre-production / construction projects is supported by the EU within the framework of the Regional Development Program, a support for this type of projects by the main strategic support groups in which we are working with great momentum to replicate these fantastic results in the Toral Project.
Source https://www.proyectotoral.com/noticias/
Am i also correct in saying they would raise for at least year after the last raise? If so thats August the 19th. Therefore with the funding coming whoever it may be should be here any time July. Or at least an announcement letting us know its secure therefore creating a shareholder event. Im assuming directors will want their options first before announcing that though.
1 last big push increase that resource over 4.5 million tonnes and im assuming they will want them for the PFS not sure if that will be before funding
a) Tranche 1: vests on the delineation, by an independent third party, of greater than a 4.5Mt Indicated Resource estimate at the Toral Project, reported in accordance with JORC (2012), exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023;
b) Tranche 2: vests on the delivery of a positive Pre-feasibility Study at the Toral Project with an independent recommendation for the Company to continue advancing the project, exercisable at a price of 8.89 pence per share and expiring on or before 18 December 2023
GLTA im guessing a string of announcements over the next 2-3 weeks
Thanks Chrisp for putting me on track again….I forgot about the warrants…. :-) GLA.
Bricks they had 3,125,873 * 0.54 = £1,687,970 at the end of December 2020. I suspect they had paid for some of the drilling already by the end of December 2020 and they had not used up all the grant money. So we might be OK for now. The drilling results might increase the SP enough for warrants to be exercised which I think would be another £2, million. We both said last year we could be funded up to the PFS stage if the warrants are exercised and that might still be the case but will depend on the SP.
What I’m starting to wonder like all of you I guess…is where is all this money coming from to pay for this ? We know they have told us they are persuing EU grants and local grants but it seems like we are spending it already….and in all likelihood overshot budget on the drilling…unless MC was wrong on his half a mill per hole statement at the AGM….maybe they know something already ? This being the case why no RNS on the grant situation yet ? Strange sequence of RNS’s……just thinking out aloud….anyone else feel this way ?
Well all I know is that cheapest response to RFP may not have been the best…..other criteria do come into play and yes WA has effectively got all the history on Toral as well as I am fairly certain Lundin used them as well when they owned Toral…..small world the mining world is.GLA
Agreed CHRI5P as I said earlier WAI know everything about our concentrate including the inevitable unwanted elements that us PI's still haven't been informed about and I don't think they'd have tendered for a contract (that they surely don't desperately need) unless they thought it would reflect well on their brand. I take it as a big positive. There do seem to be some popular AIM explorers such as EUA and GGP getting absolutely wacked at the moment so perhaps we're better off in the shadows for now :)
I think this is good news and demonstrates that this exploration is progressing well to funding and then mining/sale. Last year was a huge year for AIM mining and many SP's rose - some IMO justified and others not so. However, it looks to me that the PI's are at the moment cashing out or switching to other markets (diversifying) and the money swirling around is not there. I have had quite a few AIM mining shares fall over the last 3 months on no news or even on good news and shares I don't own also fall back. I would have thought this RNS would have perked the SP up. However, when we get closer to the PSF/funding and the results of the latest drillings are published then this SP will move and once it moves it will move so quickly that you will wonder why PI's waited so long before taking the plunge.
To add to my below
Cummins and Iberdrola Partner for Large-Scale Hydrogen Projects in Spain
https://finance.yahoo.com/finance/news/cummins-iberdrola-partner-large-scale-155812567.html
Green hydrogen also requires zinc...Is this our backer and why WA got the deal as they can offer a great partnership
Heres something interesting
https://www.wardell-armstrong.com/sectors/infrastructure-energy/
There clients are Iberdrola
iberdrola is a Spanish multinational electric utility company based in Bilbao, Spain. Iberdrola has a workforce of around 34,000 employees in dozens of countries on four continents serving around 31.67 million customers. Subsidiaries include Scottish Power and a significant part of Avangrid, amongst others
https://www.rechargenews.com/markets/why-big-oil-needs-to-consider-spinning-off-their-renewables-and-new-energy-businesses/2-1-964539
The best perfoming energy stocks over the past five years were all renewables-focused. Companies like Enel, Iberdrola, NextEra and Orsted have significantly outperformed the Big Oil companies.
What’s interesting though is that the worst performing oil and gas companies were also those most aggressive about decarbonisation, namely Total, Shell, BP, Eni and Repsol. It begs the question, should they be spinning off their renewables divisions?
Total 100GW renewables target to put oil giant in green power top league
Read more
'We won't play the commodity green power game': why Shell is going its own way in renewables
Read more
The heart of the matter is the difference between renewable and oil and gas companies. Renewables projects are generally low risk, low return and debt financed, demanding a low cost of capital and a very low cost base. Investors are comfortable with a secure but low yield and a focus on growth
To add to this look what news got announced today
https://renewablesnow.com/news/iberdrola-commissions-328-mw-solar-farm-in-spain-745101/
They might need zinc??
Yes I thought that too Mm's - nice pic on Twitter of Myles looking characteristically laid back :) do like the cladding though.
https://www.proactiveinvestors.co.uk/companies/news/952919/europa-metals-appoints-wardell-armstrong-as-pfs-manager-for-toral-project-952919.html
WAI has a track record of conducting all levels of technical study required on projects that have successfully been financed and developed into full mining operations, AIM-quoted Europa Metals said.
I like that line!!!!!
As the Irish would say….to be sure to be sure….that’s the only reason I would guess :-)
....... this is probably being a little mischievous but it wasn't long ago that we were told there is no point just drilling & drilling & drilling.....
You're probably right Bricks but I would have thought they would have stuck with the continuity rather than switch to WA. I can't imagine WA being cheaper than Bara but that's just a hunch based on (I think) LR saying we were paying 'top dollar' for WA's metallurgical work. What do you make of us still drilling?
you spoke too soon lor_9