Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
Also to follow up on the “no guarantee of deal being done” It’s reassuring to revisit the proactive interview with Dmitry Sushov:
“Q18. You say ‘there’s no guaratnee’ of a deal being done. But you’re fairly confident?
DS: Look, regarding this quote, which you’re referring to, it’s a very typical quote, which any sensible advisor would add to any press release/any RNS in a London listed company. It’s normal qualifications that, at least, our NOMAD [I’m sure others] add into. Because there are NOMAD there are regulators. And that’s quite normal. People need to asses [the probability] on their own.
They can just see what’s coming in the public domain from our side and from the size of the banks involved and the fact that they’re operating on a success fee basis. So definitely, they are assessing probabilities themselves, when they make a decision to work without any retainer – on a success fee.
So I think those are the arguments which reasonable to mention without going into something that I cannot say as a Director”
Good to hear people took advantage to top up low! Saves having to do this after 4p. Most people are heavily in the blue even after the mm raid. No biggie. Will recover quickly, without ‘good news’.
Remember we have 15moz of palladium lol. We’d get an offer many times the mcap JUST for our proven 1.9 mOz
Looking forward to the releases of future RNS’s, when the time is right.
Remember, daily fluctuations don’t matter unless you plan to buy more or withdraw a little. This is a buy and HOLD for something life changing - sale or no sale
The exciting part is it could be a two part dividend: meaning yes, WK profits and then an eventual asset sale(s).
But my guess is it will be an asset sale of Monchetundra, and spare cash that they won’t need for west Kytlim production and warrants.
But for course, should there be no asset sale (unlikely) this will only mean developing monchetundra in the next 6 months to start churning copious amounts of Palladium. Allowing for further expansion, profits, and rocketing the sp to multiple times current levels- with an annual dividend for shareholders imo
You’re feeding the trolls and clogging the board as well. If you haven’t filtered them already, I invite you to try it!
And if you like watching their cute yet pathetic attempts to try and stop common folk from making money, fair enough. Just don’t bother engaging.
top slicing is not a bad idea. I’ll consider deRisking 5% after 20p. Meanwhile; let the BoD do what they do best. We will hear from them when the time is right. Xmas is coming closer!!!!!
JAdam robjprofit bunsenburner123 Kalan
Sam12345 Siborg76 lamtree BullSTOP jimjam
JezTheFez
simonthezealot Elenor JimjamUk are on my filter list. Since LSE deleted the last one!
Good start to the week. Still undervalued for the assets we have, even without the Flanks
The only scary thing about this is your pulse rate potentially going out of control when this orbits to 4.5, 5p, 6p + in the next week or two. This rerate is phenomenal - relax and watch your core holding multiply
I agree LB, just shows exactly what a ‘bad outcome’ would mean for us, and how unlikely it would even be.
Even the green boxes who are apparently saying it won’t sell, don’t even realise that if we don’t sell WE MAKE MORE money!? Like, a hell of a lot more, whilst we sit back and get money for doing nothing.
It’s an absolute win win here. Nothing can stop Eurasia at the moment. And it seems an asset sale is not only likely, but not terribly far off in the future. Either way, a successful outcome.
Topping up when I get paid next week. Will continue to top up below Sp of 10p
This is much bigger than some people are realising. At this price and market cap, it could bag.. and still be a bargain to buy!
Did some quick conservative calculations to consider a ‘bad’ scenario.
If we look at two recent deals as a benchmark:
Noah Capital research suggests a per resource ounce basis
1. Implats’ bid for NAP ($214/reserve oz 3E) was more expensive than
2. Sibanye’s purchase of Stillwater Mining ($100/oz)
Okay, so let’s use the $100/oz resource for Sibanye. (Even though Palladium prices were lower back then)
Using the proven 1.9moz, and $100 = £77.90/oz,
= £148m for our 1.9 MoZ
- Let’s be very conservative and say we pay a TAX on that at 20% = £118.41m
- We one 80% of that = £94.7m
- And let’s give the Banks a healthy 10% for making this happen (generous!) = £85.25m
- Now we have 2.9bn shares to divide it with (when including directors options)
= 2.94p
2.94p is the lowest of low in an asset sale scenario we can expect based on ONLY 1.9moz.
We have 15moz (7.9x our proven 1.9moz).
For our Flanks included - we should expect a minimum of 23.2p, and that is getting a sour end of the deal.
Factors to consider in tactical negotiations:
1. We have a 40moz reserve in our neighbouring areas which is open to licence applications, making this 3x worth above minimum SP.
2. A low $100/oz was assumed here. But Impala’s NAP acquisition was at $217 (would make ours circ. 50p!)
3. Our costs are lower than both of these mines. Which were approximately $575-675/oz. I believe ours is nearer to $400/oz. this LOW cost open pit mining is the most cost effective type of Pd extraction- in the World!
4. Palladium prices today - speaks for itself. No wonder banks and buyers are rushing. And the forecast is only set to rise, this is inevitable in the near future.
5. Rhodium hasn’t been factored in, with its ever increasing price and value, it makes a beautiful addition to our glorious basket.
Overall, this is at least 23p without the above 5 advantages we have. I am sure the BoD are in a great position and a deal of this magnitude will need some ironing over, but has quite a large price tag to it.
I predict 31p but it’s very possible to get 50p + given our situation
For MT Alone:
For 2moz, benchmarking against the two previous palladium plays then 5.81-8.35p+
And for 15moz; 43.6p-63.2p+
I know what you mean!
Anyway, JezTheFez has now been filtered.
Sandman; simple and beautiful - great summary!
win win!!
You cant expect them to tell you what they've decided, before they've decided it. Obviously they aren't going to tell us "hey, we are going to sell MT outright", when they are obviously knee deep in negotiations. Nothing is set in stone, and your "concerns" are less relevanat when you take into account the information that we know.
Do. Your. Own. Research. And if you're getting weak knees, and don't like the sound of a JV, you know what to do.
JTF,
The RNS you refer to from 16th September; "for assessment of both MT & WK projects to consider, AMONGST OTHER OPTIONS, potential partial acquisition of Eurasia's subsidiaries and joint venture opportunities at the sites"
- Your first Q about 'what we believe our definition of an asset sale to be?' as you mention the paragraph doesn't make a reference to buying WK or MT, and it references "partial acquisition of EUA's subsidiaries and JV opportunities."
It clearly says amongst other options. Furthermore, there have been numerous pieces of information & interviews since then to indicate an asset sale of one or more of our assets.
e.g 24th/10/2019: "Banks have agreed to work on a success fee basis, so their motivation is directly linked to a successful completion of an alternative asset transaction SUPERIOR to those outlined in the announcement of 15/9/19. The interest from the Banks is originating from the RECENT palladium acquisitions..earlier this month [October]"
So AFTER the one little line that 'genuinely concerns' you, you fail to mention the updates and new pieces of information. Namely, an extrondarily large Pd sale in Oct which has naturally changed the game completely.
- You then raise concerns about a potential JV - WHY? A JV would make us phenomenally rich in the years to come, and if you are planning on investing in the company long term and not looking for a quick payout for yourself, you wouldn't mind this at all. It appears from your posts that the idea of a JV is some cataclysmic event that symbolises the end of mankind.
- Leading me to my next point about concerned you won't get a "dividend pay-out" and "the BOD need to come clean about this"
Firstly, you admit yourself you "don't want to be strung along thinking Im going to get a wonderful divi pay-out", who said you were going to get a div.? & what exactly do the BoD need to come clean about, in your eyes?
So what if they decide to go ahead with a JV and make WK and MT extremely profitable. Since the RNS, Dmitry has alluded to a POTENTIAL dividend option(s) to reward LTHs.
You have high hopes of a divi, but its simply your assumption youll get one. You "won't be very impressed at all" with no divi whereas some will not share your view that EUA are "beginning to lean on the PI excitement at the moment in order to line their pockets", and will stick with the companies decision, as they know best.
Wow, how do you even justify that hypothesis?
If you feel that it's "uneasy and untrusting" then sell up, people like me desperately want your shares.
"and the video being pulled is also odd / bizarre"
- It's not a video, it's a telephone interview.
- it didn't get pulled, its awaiting approval by NOMAD
I suggest you take your "rain check" & swiftly depart from EUA if you have such lack of trust in the BoD. Funny how these concerns from 16/9 have concerned you the past "few days". You cant expect them to tell you what they've decided, before they'
I have faith in AP and vast to deliver. May take a bit but this time next year, wowza, this is going to be a totally different company!
And 3 years from now.. we’ll all be laughing at our averages :)
A good day and a good end to the week. With some awesome posts and banter too!
EUA and Share Talk have submitted the interview to Nomad, who have to give permission before sharetalk can release the material (as mentioned in Mckinley’s tweet). They are naturally frustrated as are all parties. So it’s just a matter of sitting tight, and patiently :)
Next week is going to be even more exciting than this week imo. Lots to look forward to!
Meanwhile, have a great weekend everybody
oversight - 4.25
but i'd be happy regardless, as it doesn't matter :)
Elanor - get the mop. Clean up on ISLE 5
Should be a good rest of this week. With information expected imminently and an interview on Friday!
that is exactly what Mr G, and also Gary Newman from twitter used to say. Be careful or it might seem like you're using three different accounts to continue your incessant deramping, GARY.
Lord Flashheart - funny how you all of a sudden believe it's him, but failed to tell the board about your disgusting comments you had sent 30 minutes before, suggesting its not him etc. I refuse to repost what you have said because it's not even worth repeating. You are not only a hypocrite but despicable , which is why you're no longer a member of the group.