Member Info for BricksSA

@ Oils....Yep..it is rather a strange choice of words. My previous understanding was a product in mining terms was a "concentrate" of whatever it is one is mining for. CB quoted the following in the Annual report whereby he also refers to a "product" as a concentrate.
"The forthcoming metallurgical results will provide us with: (i) a better defined production flow sheet, and assist the team in optimisation work and the identification of efficiencies versus the initial scoping study findings; and (ii) an initial indication of the kind of future saleable products that can be produced. In all likelihood, potential future products will comprise a zinc concentrate and a lead-silver concentrate, and by determining the separation characteristics and make-up of the products available from Toral the Company can assess the most likely sales channels in a market that is currently seeing strong performances in zinc, lead and silver pricing."

@ Shed...whilst I agree the publication of the Metalurgical report is massive and will further reduce risk for potential buyers...I am very relaxed and so should you be. Confirmation that the data room is open by application means a lot to me.
Someone asked the question on Linkedin to LR....
Great progress being made, will we get official confirmation that the Data Room is open? thanks.
LR replied...It is open by application.
So I am very upbeat that the METS should be exactly what they should be... very positive otherwise the data room would not be open at this stage.

@DW...one would hope so....after Oiltaps post it could also be progress on talks with stakeholders..." We also had a very positive meeting with the new dg of castilla y leon relating to toral and europa metals. "

@ Ticor...Could be...what about an RNS saying they have created a virtual data room and have potential buyers doing a DD ?
Now what would that do to the SP ?

@DW....I would not like to take the risk of being out when big news lands...like a sale or an offer logged...Happy to buy and hold :-)

Guys...I notice another 1 share trade. There was one yesterday and an RNS came out sure enough this morning...so I expect another one soon...any ideas what the subject matter could be ?

Is it my imagination or are the RNS's this morning different on JSE and LSE ?
https://www.moneyweb.co.za/mny_sens/europa-metals-limited-euz-drilling-and-metallurgical-update/

Lol Shed...hope your crystal ball is still intact :-)

Some clever buying and....selling taking place. Still seems somehow carefully orchestrated ....Peel at the top of the ask ...no doubt...IMO DYOR

Fair enough comment Oils... But in our case I suspect their are "multiple" potential buyers that have been given access to data room ..This being the case surely they would be at it 24x7 to beat competitors to the punch...and confirm the value and place the subsequent offer on the table (with expiry period) for EUZ BOD to consider ? The part that intrigues me is when will they actually share any info with SH's ?? AT which part of the process are they compelled to issue an RNS ?

@ Oils...the reason I mentioned 90 days..... :-)
"From personal experience, any due diligence period past 90 days is a recipe for disaster. As my parents used to say, “nothing good happens after midnight,” so too in due diligence, “nothing good happens after 90 days.” Whether its attempted deal re-trading or the inevitable deal breakup because of something found (or not found) in the virtual data room, the length of the due diligence does matter, especially once you go exclusive with a given buyer. Exclusivity precludes the seller from any further talks while the buyer has unfettered access to all the most personal and intimate details on the company." Source :https://roi.me/due-diligence-time/

The question we should be asking ourselves...is when did the due diligence actually start in the data room....If we can determine this then we will know when it should end... Max 90 days by all accounts...DYOR.GLA
I also suspect the NDA's will have an expiry date.....so maybe after they have expired will we only see the METS...however I am leaning towards a sale being announced before publication of the METS. :-$

I did some research last night and by virtue of the fact that LR has confirmed a data room is in place and "multiple" NDA's are signed rest assurred...Goldquest Spain is up for sale...It also sounds like multiple prospective buyers..This is a very good sign imo ... as I have previously stated...EUZ has an accumulated loss of 40M quid and no ways are we in business to break even...I suspect this will be sold very soon and if you aint got tickets...no chance of winning :-$
https://www.firmex.com/blog/virtual-data-rooms-definition/

Hi guys….very interesting posts and serious progress noted indeed….good detective work…FYI…I have noticed Accumulated losses for EUZ are (40,759,280) ….I doubt very much whether LR and CB will let this go for 40M as this will only be “break even” point….and is only 10x the current mcap which seems ridiculous. IMO DYOR GLA.
Source: Final results RNS 1st Oct. 2019

Depends what Moody's you in....I havent paid out any monies from end of June....just talking credits :-)

You are correct Oiltap...I did a quick sum ...from end of June to now....we have over 2 million quid in the bank....lol....half our MCAP in the bank :-)

IMO...still games being played....all these "sells" with pending Mets and drilling news ?? Total madness if you ask me...nothing seems to tie up...purposefully I guess....DYOR.

I think if one uses the Turner Pope NPV which was worked out imo based on a known proven methodology.....see below link
http://ehrenworthsyme.com/casadeleon/Docs/ValuationofMining.pdf
Then I would settle for $110m...however having said that we know that the resource has been proven up even more since then....so must be closer to $130m by now....after METS who knows :-) IMODYOR.

Guys...I thought in LR's email which I have previously posted....we all agreed that JV would not work...based on what he told us... so a sale in our opinions was on the cards...FWIW.......here it is again.
"Toral is looking to be developed into a project with strong operating margins and is, in my view, a highly attractive proposition (See Rio's CEO talk recently on being more nimble/scaling), it also does have real scope for more scale but at present the resource is as stated. For a major buying into half a project of this type , even with a controlling interest- given the current scale, purely by asserting rights on a junior, ie; with no pathway to 100% or ability to prosecute further meaningful work, would not be something that might be attractive. Reasons being:
1. Capital efficiency
2. Majors are very 'mess adverse' with junior companies which is why assets are nearly always held in subco and hostile takeovers are rare
3. Ability to plot a mid-long term pathway to forecast likely production contribution
4. If an actual miner wants an asset its generally because they have decided its worth taking considerable time and expense to focus on the project "

....I know what you mean Shed...I found another interesting read....I think we are in the "orphan" period... hence no one to love us...hopefully will change soon... :-$
https://www.linkedin.com/pulse/becoming-grown-up-mike-elliott/