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Option 2: Could be that there is a little bit of work left to do and they are looking to IMPROVE their resources based on the following quote:
“The applied for area contains a significant portion of an area to the north and west of the West Nittis deposit known as the Nittis Kamuzhaya Travanya (NKT ) Massif, an area previously mined for high grade nickel and copper and with resources in PGM provided to the Company by the Apatity branch of the Territorial fund of geological information. At NKT a Russian category P resource (similar to an Inferred Resource under the JORC classification) was calculated by the state funded research group Rosgeologia in 2017 and comprises Ni - 298,000 t; Cu - 229,000 t; Co- 11,300 t; Pt - 18.5 tonnes/594,000 oz; Pd - 55 tonnes/1.7moz; Au - 7.6 tonnes/0.24moz; Ag - 185 tonnes/6moz. This resource has not been verified by the Company and accordingly cannot be relied upon, but is provided as an indication of potential. The Directors believe further potential resources exist in the on-strike continuation of the mineralisation at the Loipishnune deposit as it extends into the area between Loipishnune and West Nittis, in fact several early 'discovery holes' drilled by Eurasia in 2006 occur in this area beyond the current extent of the proposed Loipishnune pit and contain significant intervals including 8.4 g/t (Pt+Pd) over 3.6m occurring in Drillhole UM-3(see RNS dated 5th November 2006). These areas may be followed up in due course and, if so, the Company will provide updates as applicable.” [20].

Option 3: Potentially more work to be done in the ‘wider area’ (i.e. not in the flanks) to INCREASE the resources. This can be speculated from:
“In relation to additional 25Moz (those resources in addition to the 15Moz of PGM in Monchetundra and its flanks) the information contained in the State Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only. The Company would need to verify the data in the Russian Cadastre through additional work and drilling, if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM Rules). The Company may undertake such work as and when it is deemed necessary and, in any event, if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous licence holders” [21]

Been a bit doom and gloom on here so here's some positivity going into the weekend from RNS that I'm sure everyone has already read (O.O). These are just my basic thoughts from RNS. Feel free to agree or disagree. There will be no fancy satellites or old papers from research gate presented. Just plain old RNS with links provided at the end.

EUA becomes extremely attractive due to increased metal value and everyone noticed the sale value of similar mines, so banks got involved to try to cash in on the last mine of its type [1].

The BOD announce that there are multiple parties interested in out company [2]

In the interest of dealing with them all, they begin FSP [2] to have all interested parties sign NDA rather than dealing with everyone individually.

They bring third parties on board to facilitate all of this (e.g. UBS [2], DLA [3]).

The BOD present XYZ data making XYZ claims (e.g. MT 1Moz PA plan [4], 15.5 Moz [5], 7Moz here [5], WK production can be scaled up [6]) to interested parties after signing NDAs at the beginning of the FSP.

Interested parties say well that all sounds great If you can prove it to ‘X’ extent then we will offer this, and if you prove it to ‘Y’ extent then we will offer this). They then submit non-binding offers [7].

We know a non-binding offer stipulates what each party expects from the other etc [8, 9, 10].

So, BOD essentially have a to do list and head off to prove their claims. They sack off the WK contractors to give them free reign over WK [11], get Typil licence [12], WK DFS [13], MT flanks [14], access to data at MT from NN [15], Alexei Boucher prepping samples since November 2019 just before MT was declared as a site of federal significance (i.e. valuable) [16]

Absolute precision were in discussion with EUA since at least March 2020 [17] and wrapped up their work in Monchegorsk (our area. We are the only ones with mining licence here) just before the New Year [18].

So, what is left to do?

Well, the FSP is still ongoing despite the difficulties/ delays so no worries there [19] so I can think of 3 options.

Option 1: Nearly there. Could be that all of the terms from the non-binding offers are met and they are discussing the final details.

8ead,

In my experience pump and dumps are a company picked at random that out of nowhere skyrockets and within a day of two (if not within an hour) crashes right back to where it was leaving people with a loss that bought in on the spike. EUA have went from 0.25p to 30p is because we had a steady stream of positive news, a rally in metal prices, and interest from other companies and banks about selling the assets or company. It has also been a consistent rise over the whole year as the BOD keep adding value. Every part of the rise in SP is underpinned by official news and therefore cannot be a pump and dump. If anything we can see the SP being supressed. Also being in FSP would be a pretty stupid way to pump and dump since the aim is to cash out at the top and let it drop but if the company is in the sale process then its hardly going to drop.

The second thing you'll keep seeing is that it is all a scam. As per takeover code and aim regulations the company would not be able to be in FSP without proving that they have something to sell. The takeover code can be read online on the official website. As per official RNS (barring the updated resources from the presentation) we are trying to sell at least 15Moz of Pd equiv and the 1000koz PA plan at MT, and we have several interested parties. This was signed off by the NOMAD who have to ensure the content of RNSs are accurate. You simply cannot get to FSP stage on hype and fake data.

As you mention the reputation of the companies in our corner is also a massive give away. Do you think for one moment that UBS or DLA would be involved with anything that could damage them? They would get one whiff of something off and they would report us in a heartbeat to distance themselves from anything dodgy. I know everyone says how incredible our BOD is but the people in charge of other companies are equally skilled and would spot BS from a mile away, leading banks and law firms will likely be especially good at spotting it.

Anyway, best not to rely on anonymous posts on the BB, including me. Read through the RNS over the last year and see for yourself. Make it a drinking game and every time the BOD make it clear that we are being sold take a shot. You'll be p****d in no time.

Good luck everyone.

Alta

I'd imagine the article used the 2.2 Moz updated from 1.9Moz because that is all they have a mining licence for and has been in the public domain for years (e.g. the 1.7 billion valuation for 1.9Moz from Mining Maven in 2017). The Moz from flanks and exclusivity zone are exploration licences and not mining licences. So to be extremely accurate they would not try to place value on that. Likely the value for the additional 13.3 Moz from flanks (exploration licence) and the 7Moz (exclusivity and would be exploration licence) is what is being analysed and negotiated just now during FSP. Therefore, it would probably breach the NDA, and at the very least be extremely unprofessional for the company to speculate about how those would be valued in public while negotiations are ongoing. The value of the mining licence (now 2.2Moz) has been in the public domain for years so there is no issue for them speaking about that but it is probably all they are allowed to say at the moment.

The article using the mining licence numbers was clearly another opportunity to say "by the way the SP is rising because we're selling" after having to release that speeding ticket RNS which also directed people to the 30th September RNS that said "we know exactly why the SP is moving and here is where to find the info". Can feel the frustration from the BOD as they know this should be staying north with the sale potentially imminent and they are likely fed up with people fabricating nonsense against them so they are hitting back how they can.

BOD have been very explicit on how to value get ball park estimates on this and they released that presentation too showing the increased numbers for us to use for new ball park figures. I think Macs £1.17 serves as a good midpoint between all of the valuations using appropriate methods and like he says, with the improved circumstances that £1.17 just gets more and more likely. We will find out more when the BOD are allowed to discuss more. Run your own numbers with the available data and see.

All IMO. Have a good weekend. See you all next week!

Alta

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