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Tiffin
There’s no comprehensive mine plan or cash flow forecast for WK.
All the years it has been mined it has been uneconomical… by their own admission
What info do you have or can share to demonstrate it will be economical? Have Eua confirmed for 2023 what they will mine from WK?
Beast
Really? This is mining.
An explorer or junior should not be speculating on future prices, especially when it has not made a profit in 20 years.
They could of course hedge if they want some certainty.
By their own admission they have little working capital left and that stockpile is not very ‘liquid’ …
Very odd and I’m surprised you’re not questioning it.
One in the hand is worth…..
Or just maybe they don’t want the cash on the actual cash on the balance sheet……
Stonk
Please share the profit forecast
Regard’s stockpiles, yes if you are a top tier producer are profitable and cash flow positive it can make sense to strategically stockpile some… but shareholders would want clarity on reasoning, why not use that resource/cash to invest, give divvy, pay debt, buyback shares…etc
What I have never seen is an explorer or junior ‘strategically ‘ stockpile resource…. It looks very odd, especially when cash flow negative….
Red flags everywhere
The only bit I can’t reconcile is Iain Rawlinson… he’s still there as NED. I’d love to know what he is actually doing, is it just attendance at a few meetings a year…
Shortly
Folio
It’s not about ‘bashing’ it’s about facts
Yes it is in production but unfortunately is loss making - see last accounts. Coupled with little cash on the balance sheet
There is no 2023 forecast or mine plan
Zero comms from BoD
Shortly
Del
Completely agree it’s dead in the water
But look at the fanfare when it was announced and what they said they were going to do…. None of it materialised.
I recall the sub-contract element back to EUA subsidiary resulted in speculation of a divvy back to shareholders ….
Beast
You are looking at this the wrong way
How will there be evidence that there HASN’T been an offer??
You need to reframe
What concrete evidence is there that there HAS been serious interest, I.e a formal offer? Name of an interested party? The successful DD, what was this?
As of today… nothing
Last thing stated was ‘discussions’
And I’m afraid that, after 3years, is fairly weak.
Datta
Reference BRICs
Other than reference to ‘discussions’ what is there materially linking EUA and BRICs?
Anything contractual?
Sinosteel contract is about it and that hasn’t been triggered.
I’m not aware of anything else and certainly nothing concrete .
Happy to learn if there is, I.e anything concrete
Folio
Those are all fine but how do they translate to pounds shilling n pence?
The dragline…. They have not forecast what they will mine in 2023. What ‘value’ do you place on this? There is no 2023 mining plan/forecast … and it’s nearly March ffs.
Regards sale… ‘in discussions..’ what confidence do you place on this when we do not know what, who, when or where… and this for 3 years and a failed FSP
I’m afraid there’s far too much speculation….
Might be worth checking the proven resources…. None one seems to discuss these… which is strange for a mining company
Layla
Please remind everyone of the size of the assets
How much C1, C2 assets do EUA have booked?
How much is
Inferred
Indicated
Measured
Probably the most important piece of research for anyone invested or interested in investing
It’s done moon I’m afraid, it looks done….
Zero production, overheads (Bod salaries…etc) still going out the door, suppliers evidently not being paid, gold not delivered as contracted, Newgen not paid, AP not paid