Member Info for Aubery

£4m in cash left….
How long will that last?
Any suitor, if there was one, can now sit on their hands…

No they don’t Sandy no they don’t
12 wks to sort DD is standard
Hostile takeovers are done quicker than this.
You seriously saying 3 years is a typical timeframe??

Mont
‘Move to production…’

Now… after all this time?

And all the while who and how are the day to day bills paid?

Libor rate much much higher than when the agreement was signed.

All of this speculation could be avoided if the BoD had a clear strategy…. Supported by proper shareholder engagement.

When was the last presentation…..

Mac
On the contrary… anyone invested who was not ‘whining’ would be strange given the investment performance these past few years.

True Selecta

This was over 1000 days ago… read the last para….
EUA has signed an engineering procurement and construction contract with Chinese company Sinosteel for the development of the two million ounce Monchetundra palladium, platinum and gold project in Russia. The EPC contract comes with an associated mine finance package.

The bulk of this mine finance comes in the form of a US$149.5mln ten year loan facility at six month LIBOR plus 3.5%.

Eurasia and its 80% subsidiary TGK are now working to secure the conditions for triggering this finance package.

The detailed project design report, including open pit design, detailed land survey of the two open pit sites, and other key work is now complete.

And an agreement has been signed with Intec International Projects Pty Ltd to look at process improvements to further enhance the profitability of the project.

"Our team and our contractors at CKE continue to progress our plans for the development of this palladium dominated open pit mine,” said Christian Schaffalitzky, chairman of Eurasia.

CKE is the company’s partner in its operating West Kytlim mine, also in Russia.

“It is our intention to significantly increase activity on site over the next six to 12 months to accomplish activities stipulated by the EPC,” continued Schaffalitzky.

Anyone in this for a while knows the company‘strategy’ is all over the place. It jumps about. . I’ve never known a ‘miner’ publish so little about it’s actually mining progress and forward looking plan

The spectre of ‘sale’ always there to satisfy shareholders

Well what is it, after 3 years… mining at a continuing loss or sale of all or part of the company….

Mac and Layla
Please read the last accounts
Yes they are running out of cash. There is more going out than coming in.
The stockpile is small
The dragline will not materially change the mining operations… and it’s now winter…
Even if they triggered Sinosteel now it would take years to complete and show a return.
Very very very little on updates on mining.. why is that…..

Mac

‘Discussions….’

Nothing substantive whatsoever after 3 years of being up for sale.

Discussions means absolute that. I would not place any strength based on ‘discussions’.

With more cash going out than coming in with very little actual mining the daily cash burn has to be a concern.

Given RMM position (suspended!) and at the time of writing unable to pay the bills it would be unthinkable for payment to be upfront…

With Cu price now on the move up this again looks like poor timing…. And is likely conditional by the lenders to provide greater assurance they’ll get paid.

TB no longer calling the shots he’s a lap dog…

Moon
You mean the mine is the best it’s ever been, the mine.

The company is in dire straits with the balance sheet absolutely shot and unable to service its debts with huge uncertainty on whether it is a viable going concern.

There is a significant risk existing shareholders could get wiped out or significantly diluted in a capital restructure .

TB has done an appallingly job as CEO and has been left to spend spend spend….now it’s time to pay.

Sadly it looks likely that it will be shareholders who take the brunt.

As you are so optimistic and confident… roughly how long until a shareholder who paid say 25/30p gets their money back??

Santhi
This is much more serious that a mortgage missed payment

RMM have failed to make interest payments and the first loan repayment

RMM are also overdue on accounts payable.

Can this company continue as a going concern and if so for how long? How much cash is left to pay for stationery, fuel, team lunches, team building trips, florist…. Etc etc etc

Something has to happen pronto….and I fear it will be at the expense of current SH, hope I’m wrong.

LL
I’ve read the 21st RNS
We clearly disagree which is fine
Your opinion is the mine is currently viable (when taking out Newgen loan)
My opinion is the the mine is currently not viable (even when excluding Newgen)
Good luck
I genuinely hope this comes good for shareholders even if I don’t think it will

C1 costs Q1 were $6.42
Q2 were $3.47

They claim that June C1 were $2.91 but good luck if you believe that…..

With some confidence C3 costs are currently well north of current Cu price and that excludes Newgen finance. IMO

Plus I reckon they’ll be well behind with production against forecasts making fixed overheads prorata more expensive….

LL
That margin is not sufficient to cover non-operating costs.
It’s not ‘viable’ at this Cu price irrespective of the Newgen loan liabilities (interest and repayment)

Paying contractors in shares
Not paying aged AP….

LL
That’s not true
We are not viable at this Cu price
Factor in development costs, trucks….etc
I imagine zero drilling and development happening… which is not sustainable medium/long term

Cannot pay AP cannot pay loan interest cannot pay loan. C1 and C3 costs through the roof. Missed every production forecast.

Hhhmmmm

Moon…..

The share is suspended because they are (were) unable to defer or reschedule the Newgen payment which is due….

Moon you are a Narcissist.