Teaye….yes we have the resources and I agree with a lot that has been posted recently. The problem for me is the PFS and the fact that our current exploration license expires Nov 23.
If I remember correctly it was reissued again as an “exception” ….and we are running out of time….this interview explains a lot in hindsight….LR clearly wanted to push the PFS almost 2 years ago when we were granted the exploration license…..here we are now in June 2022….not knowing when PFS will be completed. Says a lot to me. I have derisked to a point where I am holding now minimal shares for EUZ and will only buy back in when a clear path to production is published….all to iffy for me at the moment and also no guarantee that our exploration license will continue after it expires as I do believe we were in the last chance saloon 18 months ago hence the exception.
https://youtu.be/FgUyJRS5t6o
I think shocking is an understatement….. I question the ethics and validity behind this dilutive placing when the share is under suspension and a consolidation and purchase of another project is on the table. I honestly expect us not to be trading come end of May as originally RNSd. Expect further delays imho. Seems like more delays and surprises are imminent.
I’m with you on your analyses cunningfox…..smoke and mirrors at the moment this share definitely is….slipped 3 months …in the space of a month..until end June on the pre reqs for Broomfield project and now this…..an agreement to sell products on behalf of another company that makes them and they have yet to prove the concept….makes one hell of a lot of common sense to me :-)
“ Unless of course they want the SP down to buy way cheaper next time.” Never a truer word spoken by you Highside :-). Bennelong imo will own more than 40% of EUZ for a measly 2million quid after the next fund raise which is very imminent imo. Cannot see us holding out much longer and drilling is not cheap…GL.
This worries me….. https://www.kitco.com/news/2022-04-05/Putin-says-possible-nationalization-of-Russian-assets-abroad-is-a-double-edged-weapon.html
I think LR resigned because WA found gold when identifying the deleterious elements :-)
He is now officially unemployable :-)
Joking of course but who knows…..A third of the worlds gold comes as a by product from lead and zinc mines…….still hoping of course.
Some guy is trying to sell these at 88 c a share on JSE when one can buy them on the LSE for equivalent of 70c……I don’t think he will get any takers unless they can’t trade on the LSE.
GL.
Yep…that’s always been the problem Highside…PIs have funded this largely to where we are and most of us are fed up with the rinse and repeat tactics adopted by EUZ in the past…. I certainly will not be buying anymore until such time as a clearer pathway to production exists.
Sheds…I don’t think anyone will dispute we have a good asset. The problems are the usual though…..funding to complete the PFS as well as funding to build the mine…..e are short about 82 million quid my estimate. The problem is how much will be be diluted and when ?
I think Money may be right Highside…..but only after the next fund raise. I suspect Bennelong will own over 50% after it and they will have the rights to appoint a new CEO.
My guess is they are lined up to buy 100 million shares at.02p per share…..that will give us enough to complete the PFS I guesstimate.
Yep…I have been invested since Justin Tooth’s FCR days…..just learnt the hard way and now use 50% of my holdings to trade….got sucked in further by LRs bullsh@t and invested in him and EUZ further….I am still of the opinion that when investing in a company one needs to revue the cvs of all company leaders and the board…..ours seemed strong at one point but alas my judgement was wrong….again. I now live I hope that the asset is our saving grace. Got no faith whatsoever in current management team. Fact but true. Sorry if I offended anyone.
Good RNS. At least they have updated us on Toral….left the c@@p out about buying other projects and value events…Cannot see past another dilution however as deep drilling is very expensive and I estimate another 2million quid alone for this activity…..bearing in mind we have not got funding until end of PFS…..imo….expect a fund raise soon.
Good morning Chrisp. Yes I know it’s expensive but must be an option on the table if we need more funding for the purchase of the other project or projects they continuously allude to without necessarily diluting us more. Another fund raise will see many LTHs rush for the door on the first spike otherwise it’s back to “rinse and repeat” which we heard so much about under LRs tenure.
Maybe a rights issue on the cards….that’s the only way this will survive imo and will at least allow LTHs the ability to maintain their share of the company. Also another anti dilutionary tactic if one chooses to retain their % of the company.
“ I doubt these is actually the money to do either now.” I suspect you are correct Highside.
What this in effect means that in any negotiation…..MC will have the short straw…which is us as well….unfortunately. However this can change overnight with another fund raise or sponsorship or JV whatever and it may strengthen our hand. But we will need more cash in order to achieve this…undoubtedly. .I have looked at this aspect over and over again but it all spells another fund raise to me…..with dilution…unfortunately. Then that will be the right time to buy imo. Let’s see but GL.
Something may be happening but it will not manifest itself ….. like always I guess. :-) Here’s hoping that some Corporate news pops soon as I don’t think any operational news will create much sustainable growth in the SP…..as has been proven in the past. Have a nice day all.
For clarity the first three conditions precedent noted in the Previous Announcement now provide for:
1. by no later than 29 April 2022, Kibo and Broomfield shall have delivered to each other written notice that they are satisfied with the results of their respective due diligence investigation;
2. by 29 April 2022, Broomfield shall have provided certified copies of resolutions authorising the sale of Brownhill;
3. by 29 April 2022, Kibo shall have entered into service agreements on mutually acceptable terms with the key individuals nominated by Broomfield to the board and executive management of Kibo for a period of at least 24 months;
And speaking generally….there are no short cuts in the exploration process…as we all have learnt the hard way. The PFS should be all that EUZ is working on at the moment…these other projects MC talks about is imo p##s poor management of the company. His days must be numbered in my honest opinion. They should be looking at completing it rapidly and even paying WH in script if they need to…this is where the focus of the entire company should be….but alas yet again….EUZ somehow trying to find another shortcut.