Haven’t posted in a while
Just wanted to give my condolences. RIP JTMacs - was a great poster and EUA lth. Thankful for all the effort and time he’d put it.
Thoughts and prayers to family and loved ones. Very sad to hear about this news today
https://www.eurasiamining.co.uk/investors/presentations
2.2moz + 13.3moz + 7moz + 17.7moz = 40.3 moz total
I think, PATT, you may have missed the investor presentation. Unfortunately, many of your points are moot points and West Kytlim and it’s recent performance seems to be a sticking point. There is no palladium at that mine, and as mentioned EUA is a primarily an explorer looking to sell these valuable assets.
The recent placing? Ownership? “EUA has years to sort it out”, that means surely you haven’t read the RNS’s? How could you have?
Monchetundra is what we’re talking about, and if you truly wanted a well rounded analysis why don’t you benchmark (even with 2moz Pd) using recently done deals such as Stillwater/NAP?
The value is in the PGM’s and the low AISC. Country risk is one seen anywhere, just look at South Africa.
And “why wasn’t it bought years ago”, oh dear. I’m sure this has been discussed to death, and I raised it previously, the price and fundamentals of palladium rapidly changed. Giants such as Norilsk already sat on their huge reserves. And when Pd was $400/Oz Anglo made a grave mistake by walking, as now it’s worth a vast amount more.
Extra drilling data over the years also helped. But more importantly, its not as simple as saying “why didn’t they buy it”
Who is to say what’s in the mind of any buyer. More so, who is to say EUA wanted to sell at that point? Dmitry and CS must have understood the fundamentals and rejected any offers/decided not to sell when back then. They banked on Pd rising, and it has. EUA didn’t even decide to sell, in the end they were approached due to the highly successful deals carried out last year and before.
“Why didnt they buy it years ago”
Well maybe they couldn’t. Maybe they tried to and the offers were not acceptable. Today, numerous parties are interested & this what’s let EUA to be worthy of billlion $ company title.
Those who saw these fundamentals early on have been heavily rewarded now. Engagement letters don’t mean anything? The market certainly didn’t react that way. And the share price has bagged since then..
Some investors overlook these key fundamentals and that’s why they miss out. Sometimes they troll the boards because they’re sour, sometimes they still are blind to what’s in front of them, no matter how much others stress it to them.
The importance of DYOR & trusting the research and information presented to investors..Eurasia mining have been great in terms of BoD, communication, and they way they have executed this.
To say this has been “ramped” to a £1bn isn’t a statement I agree with. The demand of Pd is increasing, &speculators who believe will hold. Even if others with ACA degrees choose to “not like it”. All opinions are appreciated, but outright purposefully “winding up” others and boasting about it is cruel, unnecessary, and speaks volumes about someone’s character, especially when they are pretending to ‘help’
“EUA was a one wash plant company”
- No, EUA was an explorer who turned into a successful producer taking steps forward and progressing to enjoying 100% margins by cutting out the middle man.
-“Now it is planning to be a two wash plant company”
That’s right, expansion. A good thing
“Small mining business in West Kytlim. Not very successful”
Did you read the RNS’s as you proudly & frequently suggested? Then you’d understand the operator problems faced. Besides, WK is a beast waiting for expansion and work. EUA’s plan was to start beefing it up to sell it. It’s by no means the Company maker. The sale is forward looking for the last Unconsolidated Palladium Play
This is where the poster starts to get a little embarrassing
- “This has 2m oz of confirmed reserves”
Simply no, if you read the RNS’ we have more.
“The extra 38m oz is speculation and creates funny situations like I saw last night”
This tells us you truly are here to try & wind up holders. As you’ve bragged about on other boards, very mature of you. If you think the PGM’s in the flanks is “speculation” & the RNS’s are lies, yet you’d like to believe a page on a website over the actual RNS, it tells us a lot about your ‘research’. We have 15.5moz within the flanks area, and while correct there is an additional 25moz + in the surrounding area, EUA can’t say exactly how much is mineable; there is just as much chance as this will be more as the cut off grades for mining Pd will be in our favour as the price of Pd continues to rise- meaning EVEN MORE will be economical to mine. You’re assuming the Russian state cadastre, work by Barrick, Anglo, and Norlisk in the area, along with 33km + 48km of drilling - is “speculation”. Poorly said and researched on your part IMO.
- “Sinosteel”
Please read this extract from an RNS: ‘The sub contract has not yet been activated by Eurasia as it continues to consider its options for the assets. In the meantime, the Company can trigger the start of the Sinosteel EPC contract, AT ANY TIME at its discretion, until 2027. Accordingly, Monchetundra project REMAINS 100% FINANCED as previously announced’
- RE; “final points are that EUA are a small operator. They have engagement letters”
You say you could “do that”. Do what, get engagement letters with CITIC&UBS? Not sure if it’s more amusing than absurd. And yes EUA were a small operator and the market had clearly missed this opportunity but it had done for many precious metals miners. Many are now realising true value, and NONE of them are comparable to Monchetundra, this tier 1 asset which holds tremendous potential. Have you put a ball park figure on it based on the RNS figures? Easier And smarter than suggesting the RNS’s are ‘speculation’
- “why didn’t NN snap up licence years ago?”
I guess you didn’t calculate the price of Pd back then? When it was $500/Oz and costs $350/Oz to extract, the profit margin was different compared to Pd at $2.5k/Oz. boD’s patience has paid off
Good afternoon, Ian. Thanks for the list and efforts!
Please may I put £1.24, (the love of 46 {Pd} plus the power of 78 {PT})
Hello,
Can we please put an end to trying to make some sort of rivalry between LSE and other platforms. It’s ok to post on ADVFN for users, just as is LSE. Why should anywhere be different
Let’s pause with the sly digs with “hide and seek” and “they’ve left”. It’s inaccurate to just assume the motives and reasoning for many people. Collectively grouping people into a category (LSE, or not)
I work 10 hours, often 6 days a week with no Lunch. As a frontline and key worker I don’t have much time to post. I do enjoy reading posts by Tilly, Ian, Mac, RR, GLG, GFD, crabby, anders, Aaltatrako, Gingerhippo etc.
Who says anyone on platforms are knocking lse advfn Twitter? There’s only one person constantly saying this, and I feel it’s trying to cause unnecessary strife and rivalry. As has been mentioned, we are all in this together. When people find things on telegram - its shared on LSE. When people find things on LSE it’s shared with telegram. Investors are in the know; and those who’s lifestyle is better suited to a messaging service akin to WhatsApp, where documents, GIFs, Emoji’s, Links etc can be shared
LSE is no longer the war zone. I have been posting for a year now, and regularly posting throughout September - late suspension, I do not look down or be spiteful to those who were quiet or didn’t post as much before.
There were botflies on Twitter, telegram, adfvn I have fought, as well as LSE. Thankfully in telegram they can be evicted, and on LSE they can be redirected to filter island. But since Adam J from Hubcap got torched, LSE seems happier, and like some others I am fully committed to my work and family at the moment. (Note: I do not even post very regularly on Telegram. Mostly after hours)
That being said, after the latest RNS I’m very excited yet trying to keep grounded at the same time. I do believe our time is approaching so just trying to get on with work and prioritise tasks - as when The One lands i hope to take some time off with the Mrs and enjoy some of the money we’ve saved.
For a year I haven’t paid myself and have put all of my salary into eua. I’ve managed to gift my mum 700k shares in a newly opened ISA for her and can’t wait to see their reaction when I give it to them as a retirement present. Even the wife doesn’t know exactly how much we have between us - looking forward to that reaction too.
One love guys. We’re all in this together. It’s ok for users to read Lse, some don’t have the time or wish not to post. I don’t think there’s anything wrong with that, nor do I have a problem with other sharing on other platforms, as long as it’s benefiting EUA. Fighting LSE botflies helps, but bringing multimillionaire investors from twitter into Telegram, and having their sticky hands buy millions of shares also helps the cause. In a different way.
We have so much to be happy and grateful for. Please let’s not resort to rivalry or cheap shots to LTHs who have invested everything into EUA
Rowka,
When you say MT, where are you referring to. As you are surely not talking about the flanks or the exclusivity 5km area?
The research shows it to reside in the MT Travyanaya area so the Rhodium (present in very small amounts as seen in Table 7 of the second link) can be found there - but it’s not within our licence area so it is in the surrounding Monchetundra area- but it isn’t in EUA’s mining licence or area - hence why it has not been RNS’d.
Check the maps and the tables to show where the Rh is found - not relevant to a sale in 2020. Best stick to what is actually in our licence right? As anything outside won’t be noteworthy
... or the general area, which also includes the areas outside of the licence
Overall I think the PGM basket at MT is still phenomenal in its own right. Any trace amounts of Rh will certainly help but will be minuscule compared to the other PGMs. The upgrades in resources seem to have been missed by the market, and the excellent presentation gives us more numbers and detail to work with. Once again EUA have smashed it and I’ve a feeling many dreams will come true this year, hoping for £1+ but I will be happy with whatever the BoD will achieve, as I know they’ll be getting us ‘the best deal on the table’
Seeing a lot of talk referenced by some articles which make for a good read regardless, however, there may be some confusion when analysing them. To my knowledge, there is no significant amount of Rh in our licence area at MT. Yes, at WK we have Rh, but it’s incorrect to say we have Rh at MT. Especially in the amounts some on here are suggesting. EUA have plenty in the ground, it would be wrong to try and suggest there was more there than actually is. We don’t need to ramp this now, just need to look at what’s given to us in the RNS.
I’ve yet to see a definitive price of information to show copious amounts of Rh that fall in our licence area.
Having a look at the link:
https://www.researchgate.net/publication/225532839_Assemblages_and_genesis_of_platinum-group_minerals_in_low-sulfide_ores_of_the_Monchetundra_deposit_Kola_Peninsula_Russia
“PGM assemblage in the layered rocks of zone are minerals of the braggite–cooperite–vysots-kite series..In addition, sperrylite, and LESS ABUNDANT hollingworthite and native gold/silver are noted in orebodies (Table 1).
The most diverse &unusual PGM assemblages found in orebodies of zone 2 localized in the Monchetundra Fault Zone. Their variety has been caused by the long-term mineral-forming process.
In addition to the known PGM species, previously unknown mineral phases, submicrometric and nano-sized PGE aggregates, whose composition is NOTquantitatively detectable, are widespread in this zone.”
Hollingworthite, platarsite, keithconnite (&others) names in figure 3(a)-(f) show any (small) quantity of Rhodium to exist only in certain areas - definitely in no significant quantity (or else EUA BoD would have mentioned this several times)
Therefore, it is misleading to state we have Rh at MT, maybe widespread in the area - but specifically in our Flanks area? Or at least 5km?
Taking a further look at 2-3 docs posted it’s clear than the Rhodium present a) falls outside the area and b) in minute quantities (compare the relative quantity to Palladium. 24500 parts/billion Pd at Nittis compared to 5-6 for Rh. In other places hits 101 ppb for Rh)
Link: https://orca.cf.ac.uk/108748/1/2017karykowskibtphd.pdf
TABLE 7
The Rh is shown to be in the Mt Travyanaya region, which is located both outside of the Flanks exploration licence & even outside the 5km exclusivity radius.
So yes there is Rhodium present in the general Monchetundra area. But the question in being relevant to Eurasia being is it in large quantities and (more importantly) is it even in our licence area?
Better to stick to what’s given to us in the RNS. There clearly is not as much Rh as has been speculated, and I think it’s misleading and incorrect to try state otherwise. There’s potential for the general area, but I have to ask, is this information being regurgitated without distinguishing what is actually in our licence area (hence relevant to a sale in 2020) or the general area, which also includes the areas outside of th
Hello,
After absorbing the RNS this morning, I was pleasantly surprised. Another blinder by the BoD. Reading through todays posts there've been a few great ones, some surprising ones (I'm filtered?), overall nice to see the majority of posts are EUA. Disruptors to the board (for the most part) seem to have fled. After JubCap, perhaps shorters are weary. Apologies in adv. if I echoed some earlier messages:
1. Placing:
- EUA complete a US$10m with ii's - 22.5p/share (closing price on 17/8/20) - no discount for the placing
- Instills massive confidence that II's see great value at 22.5p, as they could buy on the market.
- This will be used towards scaling up the production of WK
- If required, we still have (DS's) $1m credit line
2. West Kytlim:
- EUA reiterate they retain 100% of revenue from WK; still unaffected by COVID19
- Deliveries of PGM concentrate to the refinery 'are also ongoing' & the payments are received on schedule AND reinvested into WK - a lot of funds directed to the scaling of WK, this could truly be a beast!
- (AP? their role?)
3. Definitive Feasibility Study (DFS)
- This will encompass all resources at ALL the sites of the production license; commissioned with GeoInvestProject (GIP) & is on track for approvals this year. (Last time EUA hinted like so, information was sooner than expected)
- GIP: http://geo-invest.info/en/ GEO INVEST Project; provide services for key clients in various fields. Strengths in Horizontal Directional Drilling & DIRECTIONAL DRILLING with an array of equipment & specialists
- ALL resources on the WK Permit commissioned & being progressed through approvals. Now it's submitted - the final approval is expected before end of 2020, in advance of 2021 mining season (timeline being recommended by GIP & permitting authorities)
- A sign of strength - EUA consulting with State Reserves Committee experts & agreeing on mining data (along with in-house resource databases) to be sufficient for DFS approval
- As per RNS; significant (annual) permitting hurdles, cost and time have been saved.
- No further drilling is required to approve 'shovel-ready' resources, allowing MORE open pit sites to be mined (bonus for production Volumes)
4. MT:
- Flanks application still awaiting license issuance, having passed the FSB & MoD.
- Extensive prior drilling campaigns with c.48,000m (more than previous?) drilled at NKT
- Progress with receiving EUA predecessors' data, (48km drilling campaign at NKT)
- NKT: a "STANDOUT part to the Flanks" valuable catalogue of drilling data now available. With predecessors 'Target Areas' resulting in PFS logged in the Cadastre - thankyou to them
- PRODUCTION, EXPANSION, LICENCES "strengthen our position in the Formal Sale Process that we are focused on now" - I take that to be - we've ticked all the boxes and are primed to go; submit your best offers.
As we progress, every RNS catapults EUA to another level, truly amazing. The end result is looking to be sp
Hi Rowka,
To answer your points;
1. "A regular poster stated the other day he had sold out, but for some reason he was still here posting, I wondered how many more there were"
- Good for him. Wish him the best in his future investments and thanking him for the shares I've been purchasing.
2. "When the latest RNS landed and the price rose to 23p the reaction here was very muted, different to all the other times when good things happened, akin to happy hour in the pub"
- Could be more people at work. Could be there are other platforms, beside LSE, that are convenient for people to discuss day to day price action/other things. Some people have abandoned LSE altogether, that doesn't make them any less invested.
3. "The steady and gradual decline from 20p to 16"
[see above] (Also, many folk recall worse times e.g 4p - 2p. MM shakes have and will be part of the process)
4. "When A1ex leaked news of the license"
[see above]
Another poster requested the link for the Telegram group, a link is up;
https://t.me/eua_palladium
Link via twitter: https://twitter.com/GMF782/status/1293651927058862085?s=20
LSE, Twitter, Telegram, ADVFN, emails - each have their advantages. We've all come a long way - and BeastofBodmin's post summarises well. Lets move on and look forward to the epic and spectacular finish. The BoD are the true heroes of the story.
“It’s like a disease with you people”
- what do you mean by ‘you people’ ?
“25% of X” 25% of 2.7billion shares. I know maths isn’t your forte so that’s 675m shares. I was merely highlighting that these declarations only went up after suspension and not down, so as to give a good indication of the growing number of shares in sticky hands - which is a great thing for the company.
In no way did I mention that those with larger holdings are more important, please do not twist my words. I expect that from the green coffin, not yourself, sir.
And RE: following you on Twitter.
- I didn’t call you an idiot
- I didn’t say your research was bad
- I quite clearly said I only thing it’s disingenuous to assume things, such as LTH’s have sold up, without basing it on substance.
Let me jog your memory to my post two weeks ago: where I not only praised your links and contributions but also corrected you on a VERY gross miscalculation on your Calculations. I have copy & pasted for your convenience:
“
Dear Rowka,
"The part I don’t understand
If MT was valued at $2.1billion in Dec 2018, that price has to increased so lets say $3billion (even though Pd has nearly doubled). Then what happens to the valuation when the flanks are added?"
Firstly, thank you very much for the research and information you've posted, as well as the telegram channel packed with some fine reads. I believe there is some confusion in the $2.1bn figure that you are using for valuation. The MiningMaven website was the source you must have been referring to:
https://miningmaven.com/companies/eurasia-mining/972-eurasia-mining-accelerating-growth-into-2020-eua
Where it is said: "Eurasia also believes that Monchetundra offers a considerable amount of resources upside, estimating that it contains an in-situ reserve and resource value of approximately $2.1bn across two open-pittable locations."
$2.1bn was an approximate estimation of the total in-ground value of resources - for the 1.9Moz PGM equivalent (as mentioned earlier, the 1.9moz and inc. flanks 15moz total is not in ounces of palladium but palladium equivalent).
Of course, with the rise in Palladium (and other Metals in the basket), the in-situ reserve and resource value increases. With the flanks, takes us to 15moz. If we were to use the figure of $2,000/oz, then for 15moz, the in ground value is roughly $30bn.
Therefore, the $2.1bn (now >$30bn) was the in ground value. We could guess at whether 8%, 10%, 12% 15% would be used to calculate valuations. That is all speculation, and all great fun. But unfortunately, the valuation of MT was not $2.1bn back then, but less. I hope that clears that one up!”
Hi,
Rowka, the 'old guard' have been here before your recent sharing of research, & have been adding and accumilating heavily since. I had to comment as I think its disingenuous to suggest most have (mostly) sold out or heavily reduced - where are you getting that information from? I've been in regular contact with over 300 private investors and converse reguarly with PI's in a group who own >25% of the company. I can assure you, most of us have been adding far more to our holdings post suspension. Yes some have sliced profits, and after several hundred or thousand percent rises - who could blame them.
Confused about your judging the reaction to:
• A1ex’s post • The recent RNS • The increase in a few days from 16p to 23p
I am not of the opinion that most have sold out or heavily reduced, or more so that there is a reluctance to leave? I think at this stage we are almost all in here for the End Game. There are other posters who have done more than sharing information on LSE, others who have done far more for shareholders & the company and these holders are so humble you'll never hear them say what they've done. But they know who they are. Websites have been created, channels have, groups have, sharing of quality research/predictions, transcription of interviews, licence discoveries.
I have been here for a year battling botflies & doing my best to share what I can. I don't post very often, & botflies nowadays (especially since we passed the £500m mcap) don't pose as much of a threat. Back in the 1-2p days the vermin would prey on the private investor and put them off more easily. Today, with UBS on board, mcap of over £600m, EUA has established itself and is in a very comfortable position.
"The original Telegram group was formed by people pis*ed off with the in-fighting here. I joined this group for a short while. Initially most of the conversations were based around this board and the characters on it, it did not make pleasant reading"
Do not recall you being in the original telegram group when it was set up? Struggle to find out how you were even in initally as it wasn't shared on LSE, only twitter (which I assume you didn't have back then). I believe it was set up after the twitter group maxed at 75 people, and the sharing of documents etc is far easier on telegram than LSE. I would not say that the latest 'public' EUA telegram group is 'filled up with disgruntled members from here and a lot from Twitter'. Especially without joining the group first? ADVFN - probably one of the better places? I very much doubt that, if you'd read what I had before suspension (JakNife, Tuvart?!!)
Aalta Traacko summaried it very well - we've all been doing our part. Some less vocal than others. The shorts were battled by many, including yourself. But I would not be so hasty as to assume the Old Guard have disappeared or sold - in fact, it is very much the oppsite. Wish everyone the best in these final stages of journey!
Great tweet by GMF78:
https://twitter.com/GMF782/status/1289926397218054147?s=20
https://www.powerof78.com/eurasia-mining-key-information/
Contains Eurasia Mining Key information - A handy reference guide to Eurasia, from recent RNS to Broker reports to mining locations
Smashing update from GMF, very handy for both new investors and LTH’s
“#EUA - updated my reference library of the key nuggets for anyone new to
@eurasiamining
as they look to sell 15Moz #palladium this year with mins on board to help out”
Definitely here to disrupt. And an increase in posts (none of which are useful), trying to act smart with their posts. Blast from the past posts from calamari - (the TW one had me laughing out loud)
Calamari
calamari
Posted in: EUA
RE: 5 months this week3: 29 Jun 2020
Spikey and muldoon, yes you're correct. Bill had a way with words but not with logic. Newton would never have made that mistake
calamari
Posted in: EUA Spikeyj
13 Jun 2020 13:13
Spikeyj - GM I am going to ask you nicely, please keep posting, as you are investor in EUA. All you are doing is helping the very investors, those who have hard earn money in this stock, to see the full picture. So pls pls just stay, we all enjoy it even if we don't agree. As and when the shares starts trading again and you manage to get some, then we all will be happy for you to continue posting. Thanks for understanding and be a good boy.
calamari
Posted in: EUA
Rampers, please buy my shares
15 Mar 2020 09:30
Rampers like lucretious think these shares are worth 60p to 100p. You can buy all of mine for only 10p each.
calamari
Posted in: EUA
Posts: 2,550
Tom Winnifrith - 14 Feb 2020 08:36
has a simple but effective strategy. He looks for any AIM stock which has risen 200%+ in the last 12 months and then writes a short-seller bear attack report saying its going to crash. 9/10 times he is correct.
Where have all the rampers gone?
25 Nov 2019 12:47
Rampers, where are you now?
What have we learned? Calamari seems a bit sour, even his chums SpikeyJ (Adam Dziubinski?) and TW have been proven wrong, all quite embarrassing.
Long term holders can right through the likes of Calamari. Shorting scum, doubt they have 1 share let alone a million . Best left filtered.
Yes, invested in EUA. Some of the calculations ranging from 70-140p are well backed and don’t take into account many other positive variables. Increase in licence/areas and/or sale of Volchetundra could create supersize targets.
The offer will be multiples of today’s SP, anyway. DYOR
Good morning,
Excellent points, Ian. I agree, very kind of CHFMetal to bless us with his wisdom, so early on a Saturday morning, no less!
First post on this board to say “people are going to be disappointed”; and “it’s not going to happen” - I’m of a different opinion - I’d suggest that the multiple interested parties and UBS in the process speaks volumes. It is also extremely likely that bidders will be thinking long & hard about what bids their competitors will give, as well as which competitors to watch out for. Eurasia minings enormous reserves are worth what they are worth - a strategically important asset worth billions - regardless of sp being 1p/4p/16p- lth’s will have heard similar dialogues from those who have come and departed since.
With regards to “banging on about..so many Oz of this that or the other in the ground”, well, Palladium & Rhodium (along with platinum, Gold, + other noble/precious metals) are in a strong position and look to rise much higher in the short and medium future, by almost all credible analyst. And with many millions of ounces - which is a key factor in the final sale price, discussion on the topic is obviously one of shareholder interest (CHFmetals - I assume you are invested?)
“It needs to be extracted first”, I do hope it’s not being implied that WE will have to extract it from the ground? I would think that the buyer will be extracting it from the ground - and it would be expected that they’d like to crack on as soon as possible. The extraction costs were estimated $300-400, with a closer figure from an interview setting it at $325/Oz. However, since COVID19 the cost of extraction has actually reduced by a certain amount, therefore it’s possible it’s now <$300/Oz (bigger players can actually reduce this cost a lot further)
Nothing has to be mined yet - and if it needed to be, Sinosteel would have been triggered & wheels would already be in motion.
“but been in this situation before”
Interesting, when has there been a situation where:
- an open pit palladium mine is for sale
- during a time where Pd is near all time highs
- UBS and CITIC helping facilitate the sale of an AIM company
- Directors have so much skin in the game
- a dream team combination of Investment bankers, geologists & lawyers act in the interest of shareholders
- dealing with the lowest global extraction (significant!)
- the buyer stands to gain 2-3x PGM’s - as winning the bid wins the territory
- Palladium’s importance in producing cleaner emissions result in a requirement of much more to be used in vehicles
There are many more points that further highlight this is an extremely unique situation. I’m intrigued as to which situation has been similar?
I did check CHFM history, intrigued - but only discovered they send abusive emails to COVID CEO’s, accuses them of pump&dumps, & other unfounded and somewhat wild statements.
We’re in an excellent position, trust in the BoD
Hello, seen some naysayers out so a few quick points to clear up:
"if this company was so obviously worth 100p / 200p or even 350p as many on this BB suggest then why has the sp normalised at 17-20p"
Why was the company valued 0.4p last year? When I gained interest at sub 1p I could calculate the amount of palladium (with or without flanks) in the ground, compared to it's fundamentals (ever improving) and the structural deficit along with the global significance. The market has valued EUA currently on 1.9moz confirmed Pd with flanks on the way; flanks in the bag practically awaiting local authorisation. I don't think the BoD would have gone through the FSP without knowing if flanks would come in or not. It's practically ours, just awaiting for local confirmation.
"A crude rule of thumb is that proven reserves in the ground are worth around $100 p.oz +/- $50"
Extremely crude. Nothing compared to benchmarking against previous deals, which is what the investment bankers on our board have suggested we do - and what they will be doing when looking at estimates of a fair price. For palladium equivalent we are looking at $200-300/oz AT LEAST, perhaps more. Since you seem to have plucked numbers out of thin air, let me direct you an experienced private investor who has tabulated this information for you:
Tweet: "New 27/7 #EUA DEAL BENCHMARKING using EV/OZ.
New risked/discounted TARGET PRICES including SUPERSIZED case for known Reserves <5km and regional Volchetundra.
@eurasiamining
UBS-led sale process boosted by soaring #palladium #platinum #gold this morning."
Link: https://twitter.com/DShox1/status/1287662299159945216?s=20
(Target: £1.35)
"So they Montrachundra reserves might value EUA at $2.5bn but the flanks add $1.5bn ... nobody could make a sensible offer with that sort of unknown variable." I am sorry but this makes no sense. If 1.9million ounces is valued $2.5bn, why would 15 million ounces be valued only 60% more? Are you aware of how much Palladium is in the flanks? Let alone the further Metal in the licence area. Again, not forgetting the potenital >20 million ounces to consider in the surrounding region.
"perhaps they're asking for 10% of Sales as their cut to grant the licence ?"
Perhaps not. I advise you do some more research into Russian licence procedures. The flanks have passed MoD - nothing to "resolve", that is pure speculation & false info on your behalf.
Regarding "run out of capex cash. Borrow money" tells me some havent done much research into the Sinosteel deal, how much we'd make in only the first year of mining (just the Pd alone!). Zero debt, cash cushion, >$1m credit lines, fully backed to production. The Bod will sell, but we'd make SO much more money if they didn't (in the medium term), and this isn't your run of the mill mine - It contains the most valuable metals in the world, for the cheapest extraction cost in the world.
Holding and adding, to the end.
DEAL BENCHMARKING iro @eurasiamining using Enterprise Value per oz, % of Reserve and historic premiums (LON: #EUA)
https://twitter.com/DShox1/status/1286017339796979712?s=20
Very interesting and well structured representation of Major PGM deals of recent times, benchmarking them against EUA using various comparisons.
Important to note absence of BID situations, the Pd/Rh deficit, low AISC, open pit mining.
7-8x current mcap (comparing to Stillwater and NAP deals after adjusting for now much higher PGM prices in EUAs basket), with potential upside still makes this a very attractive investment.
I shall continue to add as and when I can. Not selling any golden tickets until an offer is presented & recommended by the BoD. This is going for multiples!
Over the last six months (and more) posted here have been well referenced fact, with some banter along the way, when battling the ill researched, inexperienced, hostile derampers . How many times were we barraged with "You will never trade again", "EUA doesn't exist" etc. (Some of them seem to have disappeared with their tail between their legs, others lurk still). How many times were they retaliated with by brilliant links by Mac & other dedicated LTH's (special thanks to Ian), yet still a botfly would appear over and over again. Unfortunately, reincarnations of banned avatars came back to the bb, asking the same misleading or aggravating questions to deliberately deter new investors and clutter the board with inorganic, meaningless drivel.
(PS. Keep up the useful links, Mac - despite what others may say, I know it can be an earache sometimes).
There are clearly many new investors, and researching the company's worth is a great place to start for anyone who wants to asses the situation, as such opportunities rarely present themselves. A start would be the previous RNS's:
(https://www.lse.co.uk/rns/EUA/)
Understandably, time isn't always our friend, and fortunately some other links are available;
1. GMF power of 78's report and site:
https://www.powerof78.com/eua-gmf78-research-report/
2. https://www.eurasiamining.co.uk/
3. ACF report
https://acfequityresearch.com/wp-content/uploads/2020/02/Eurasia-Mining-Plc-MA-Valuation-FINAL-ACF-03022020.pdf
4. A (now outdated) link to 2019s compiled RNS's with transcripts form proactive interview |https://www.dropbox.com/sh/ak8rewy0pkvqgzz/AAAKnn_EoKwjcLiDrFTCIhMka?dl=0
5. Dmitry's interview with Proactive: (great to understand what's up for sale here)
https://www.youtube.com/watch?v=d_YMY6yiMDE&t=1260s
Other posters have summarised it elegantly recently - but in a nutshell we have a mines that produce some of the most valuable metals in the world. Namely; Palladium (Pd) & Rhodium, they're in a structural deficit, and help prevent carbon emissions. Tighter standards = more Pd. Banks Vaults & supply are scarce.
Why Eurasia? Apart from Russia, Palladium (Pd) is in South Africa, who face numerous issues. Also EUA have open pit mines, do not require deep shafts. Rather unique. 15 million ounces, with 4m more in the licence area, and 21moz in the surrounding area. Thats 40moz of Palladium (do the math!)
Valuations wise - I am no 'M&A expert' but the BoD aren't letting this go for 35p. The ACF report suggesting 54-60p would serve as a good baseline, but its clear to me the company with all assets is worth north of that. Ultimately, it's the best deal on the table, and the bravest bidders will stand the best chance of acquiring this Tier 1 asset. Not many Pd mines like it (apart from Norilsk Nickels own vast reserves) therefore, wont go for cheap - big banks & directors working on a success fee hints as much.
Truly remarkable journey and there's a way to go yet
Well, that drop was most welcome. I hope it didn't catch anybody out.
"The Company's liquidity remains strong. Amigo has sufficient financial headroom and cash on its balance sheet to continue to fund operations and support its customers during this challenging time. Amigo had a cash balance of over £136 million as at 30 June 2020."
£136m is what attracted me: MCAP currently £57m.
Fundamentals looking strong. Best of luck holders.