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Sorry if I have triggered any sensitive alarms with anyone but this a discussion board but I want to re-iterate these are my views and thoughts having analyses a few decisions made in the past and rereading the RNS’s. This is why IMO EUZ desperately desperately need another project otherwise they will cease to exist and who knows maybe a payout to shareholders eventually.
Sheds….think about it….how will EUZ pay for further exploration of 1 of the 4 opportunities they are currently exploring ? Forgetting about the initial purchase…..wouldn’t the sale of their 20% ownership be an ideal fund raise ? No further dilution then as well ?
And my longer term prediction is EUZ 20% will eventually be bought out of the Newco formed between Denerius and EMI and will remain an exploration company based in Australia with listings on the JSE and LSE ……:-) I guess you can see why I had my fallout !!!
@Highside ….it’s more EMI and Denerius than EUZ now….that’s the way I read it anyways.
The JV although all press pointed to JV between Denerius and EUZ it’s more a JV between Denerius and EMI…..EUZ as far as I understand are almost out the picture now …..this is my personal take though…please don’t shoot me :-)
Thanks Chrisp for sharing your view. I have seen plenty RNS’s in the past that get superseded by the latest. But you have read them correctly just wondering whether the previous RNS is still valid just like the RNS that made WA the PFS manager ??
This may help ito your question ref responsibilities Highside…but good point. From the RNS.
The First Option is for an initial exercise period of three years from the date of the Option Agreement (extendable by 90 days in certain circumstances) and may be exercised by Denarius conditional upon, inter alia:
o it assuming operatorship and making expenditures on the Toral Project of US$4,000,000; and
o completion of a preliminary economic assessment ("43-101 PEA") compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on the Toral Project.
o Expenditures to include the completion and submission of a mining licence application in respect of Toral to the local Junta by 31 July 2023.
· The proposed transaction is conditional, inter alia, on the approval of Europa Metals' shareholders and once obtained an initial US$100,000 advance will flow to EMI on the business day following such approval followed by a second aggregate sum of US$550,000 made in periodic payments at the discretion of Denarius.
· The Second Option may be exercised by Denarius within a period of one year from the date of closing of the First Option conditional upon:
o exercise of the First Option;
o completion of a NI 43-101 compliant pre-feasibility study (the "PFS") on the Toral Project at its own cost; and
o payment of US$2,000,000 cash to Europa Metals.