Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Anything remains possible. Whilst remaining positive of the long term prospects I personally feel the asset sale is unlikely to complete prior to the JORC and potentially other JV news.
The reason for that belief is:
IF the JV assets are to be included in the sale presumably a JORC is desired by the purchaser.
IF the JV assets are not included in the sale then presumably there is an advantage to EUA in at least having the licences fully transferred before the sale? Possibly relevant in terms of where exclusivity zones will lie following the transfers?
Today’s RNS was positive, however in my opinion it means another few weeks or so to wait at least.
Not selling or getting frustrated despite being underwater and have been for some time. I would add if I had the funds available. I’m enjoying the journey, albeit this forum less so especially recently.
TMS -
Assuming, for the sake of discussion, that you are correct in everything you state above:
What motivations do the board have here?
Surely they would be aware of these issues?
Are you suggesting they are playing a game, involved in a scam, or just completely stupid?
Ok, so I have seen various posts, from various posters on this and other BBs which suggest, infer, accuse or state that the Board are "milking" the company for their own ends.
I don't understand that suggestion so can anyone please explain it?
Why would the BOD spend 20+ years building a company if they didn't believe in the fundamentals?
Why would they not have done more to exploit the share price when it went to 40+ if they knew there was nothing to support it?
Why have they not (outwith the FSP period) sold heaps of stock?
What do they get from holding whilst the share price comes down?
These are fundamental questions for those criticising the board. In the absence to reasons for them we have to assume (as most LTHs do) that the board are doing everything they can to promote the company, and their own interests (which as shareholders essentially align with ours).
They may not make every call right. The company may not be sold / part sold. It may never make billions. However, that is NOT the same as it being a scam, or of having "fat cat directors" with "snouts in the trough".
If you want to criticise the company, by all means lets see some logic, reason and facts. Lets elevate ourselves from innuendo, rumour and suspicion.
A lot of talk of the share price "flopping". I am not sure that really is the case.
Despite the many "red" days we have, frequently in a row, the current share price is very similar to what it was a number of weeks ago.
Yes we had the surge to the 40s. We had a period in the 30s. They weren't ever really sustained though. I have said before I think people invested expecting a quick pay day, and a quick resolution.
That clearly has not transpired and the price has effectively traded sideways for a while now. In my opinion it is unlikely to go significantly up, (or collapse) until we have an update.
I would obviously love an update, but at the same time I am content to let the board go through their process. A good outcome for them will be a good outcome for shareholders generally. I can't imagine that they spent 25 years of their lives to seek a small return, or that they did it all to profit from a fund raise. Those suggestions make no sense to me. If you want to scam someone there are far quicker ways.
So I remain positive that we will get an outcome. It has already taken longer than a lot of people thought it would and clearly people have sold to utilise funds or chase profits elsewhere. Each to their own. That is your own choice and best of luck with it.
The U/Ts are always a bit of a mystery to me. Why someone is willing to sell any volume for that much of a discount at close when they could sell for a better price the whole day???
Only explanation I can come up with it that they want the price red and they want it to look like it is falling.
Beyond the (obvious) fall from the 40s the share price really hasn't moved much in a while. Very much stagnant and trading sideways with little bumps along the way.
horse.mouth - The advice appears to be incorrect.
Role over relief would not usually apply to shares. Feel free to do your own reading rather than assuming any posts on this threat are even approaching the correct legal position.
If EUA sold their desk for 100 million it would currently require shareholder approval as would, once the offer is received, be more than 75% of ‘assets’ based on the current accounting figures.
If a disposal is agreed for the desk at 100 mill, the desk has to be recorded in the accounts at that point as being worth 100mill.
… obviously this is ludicrous. No way they would sell Dmitry’s desk for less than a couple of billions.
Not sure how practicable it would be do set it in the past, even if it were desired.
I think you can be 99.999999999999% sure that the earliest point will be the point of the announcement of the dividend.
Otherwise I think there would be all sorts of issues trying to locate previous owners etc.
Well...
Lots on here were moaning about the lack of communication from the board, and about ambiguous RNSs . I think the most recent RNS is about as clear as it can be in relation to the Board's intentions, both in terms of funding, asset sale, payment of a dividend and future progress on the JV.
I am busy this afternoon but will assume that those same negative posters will now applaud the board for responding clearly to the concerns and providing clarity? (I will not hold my breath).
Delighted to see that RNS given the current share price. Confirms that a sale is still very much on, and that would suggest that the sliding share price is sentiment driven rather than any knowledge of poor news.
I actually don't agree with Billions or Amers here.
I don't see myself as a ramper, nor a deramper. I like to think my views are reasoned and relatively middle of the road. I don't feel that the "rampers" have attacked anything I have said. Indeed some responses are quite thoughtful. The same on the deramper side.
Rather than blaming "the other" I think people need to analyse the style in which they post. Anyone who thinks they deserve friendship and cuddles whilst laughing / mocking the investment choices of others is deluded. Aggressive deramping also serves no purpose. You aren't saving people by being nasty. If you want to have a view, great. Try and post it respectfully and back it up. Honestly think there are some from both camps who do this and they are well received. Becoming more tribal is, shockingly, not the solution to the issue of tribalism on the forum.
As an aside... The SP is taking a hammering. It is tough to see. I get why investors are nervous/frustrated/angry. Please though, take responsibility for your own decisions. No one forces you to invest and no one stops you selling at any time, only you. These forums are good for indicating sentiment, although take with a large dose of salt, and sometimes for throwing up an angle or research you didn't consider. Blindly following conclusions of others is not recommended.
Anyway, I hope everyone succeeds in their own investments, whether that is with EUA or elsewhere. Hopefully we can support each other, laugh and have a bit of fun whilst doing it.
Mac - from the link you posted:
“ STATUS OF THE DEPOSIT IS UNKNOWN BUT BELIEVED TO BE DEPLETED”
I’m not suggesting for a minute that the BOD have purchased an empty used mine, but it would be interesting to know how extensive previous excavation has been and why mining there stopped.
Obviously prices have risen significantly so previously uneconomic mines / resources may now be somewhat attractive.
Interesting to see how this all plays out.
Regardless of your individual view on this, or any other share, the apparent glee that people appear to be experiencing from a dropping share price and others losing money is pretty disgusting to watch.
Unless these same people are short, which most say they aren't, they can only be getting satisfaction from being "right" (at the moment) about the direction of the share price, or they are smugly feeling arrogant that they are the next Warren Buffet.
These boards should be to try and support each other. Discuss options, a place where people can understand alternative view points.
This board continues to become more and more polarised, and less and less useful to any investors.
Some blame "rampers" - well, they didn't make you buy shares. Take some responsibility for your own money and investments. Perhaps some are over zealous in shouting down negative views? However when the negative views are expressed as they are on this board it is hard to take them seriously (some few exceptions aside).
So rather than be pleased with the misfortune of others, can we possibly have a bit of discussion as to what people actually see as the future here?
If you see this crawling down to 1p or below, you are entitled to that opinion, but please explain it.
If you see this booming to £5 +++ then likewise, you also are entitled to that opinion, but again, some explanation would be appreciated.
Also vague accusations and criticisms of the BOD are getting somewhat stale in the absence of any evidence.
Just my thoughts... no doubt they will be drowned out in a wave of antagonism from both ends of this current spectrum.
Simeon - So you feel that 17p is a good entry point? Any chance you can explain why?
What upside do you see from that? Or is it just a random punt?
I am curious why you would wait in the hope / expectation of it hitting 17p when it may never reach that point? Why is 17p a good buy but 20.5 isn't?
With the AGM later this month hopefully some of the slide will abate. Does seem to be a fairly consistent trend at present, but here is hoping that the wind changes soon.
Share price rarely reflects the true value of a company. Hence why it goes up and down on sentiment as often as it does on news. Also why share prices tend to re-rate and jump around for positive and negative news.
Share prices are reflective of investor sentiment based on limited outdated information about the company.
Too many in EUA waiting for "that" RNS. Too many out of EUA chasing rainbows believing they have time to get back in before "that" RNS. Probably some who think "that" RNS will never come. A combination is why the share price is where it is at.
Does it bother me? Not really. Slow gradual decline is a bit frustrating to watch, but the news from the company is positive and I am happy to see what the future holds.
I can't see the RNS as anything other than positive.
Any expansion of EUA assets will surely have a positive impact further down the road on the value of the company, and therefore our shareholding.
In terms of the shareprice... we have seen this before. Because it doesn't say that payment is being made tomorrow, or a signed deal has been agreed plenty of people are going to moan, be impatient, sell out and run off chasing rainbows.
Best of luck to them, for me though, I am pleased and impressed with progress and look forward to seeing how things end up.