Member Info for Broxburn68

JT Macs

The link is there to illustrate that BlackRock invest directly in to individual companies as well as provide a multitude of funds, for those that might not be aware of this! We'll find out in due course.

BlackRock would be my best guess. Whether everyone would be happy with this is another matter..

https://www.marketwatch.com/story/blackrock-seeks-to-raise-10-billion-to-make-direct-investments-in-companies-2018-02-07

https://acfequityresearch.com/wp-content/uploads/2021/05/Eurasia-Mining-Plc-Research-Update-Valuation-Research-ACF-FINAL-20052021.pdf

It's not likely to be other companies who participate in any potential placing, though having said that Premier Miton (Gervais Williams) will have most likely picked up their holding here through previous placings. They're the only active II fund invested here as far as I can see.

Placings normally go to high net worth clients of the company brokers; bigmj would be a good example of this for those who have been following EUA for a while.

I've been an advocate of Primary Bid for a while now, this allows "normal" PIs to take part in placings as well as the heavier hitters. Let's see if EUA will open up to this option if/ when they decide to do a placing..

It's just another of these standard Companies House filings that any AIM company will do every year to allow them to do a placing if they so wish. This company do this every year, normally in July looking at past submissions.

A number of these state secrecy laws regarding strategic resources have since been repealed, but I'm firmly of the opinion that any buyer will be Russian. There is very little foreign ownership of Russian mining and the experiences of Barrick Gold at Fedorova Tundra illustrate the problems overseas investors can face.

https://investinrussia.com/data/files/sectors/Metals-and-Mining-in-Russia.pdf

Hi Ian_

I'd maybe check the RNS...

https://www.lse.co.uk/rns/EUA/issue-of-equity-directors-holdings-d3t10r3mhf92oza.html

mac4671

If you're looking to gain a possible valuation for Monchetundra alone, perhaps looking at the prices paid for other similar undeveloped in-situ PGM resources may be more useful than comparisons with Sibanye and Impala.

Some purchases in the last five years or so include:

- Federova Tundra (Kola *****ula)
- Red Emperor
- Empire Metals
- Platina Resources
- Nickel Creek Platinum
- Grid Metals
- Wesizwe Platinum
- Jubilee Platinum
- Wellgreen Platinum

I hope this helps.

Following this thread possibly leads to Tatneft being an interested party. They are a $16.2bn MCap Russian oil refining and petrochemical company...

https://www.tatneft.ru/about-tatneft/general-information/?lang=en

There would be 250m shares issued at par value of 0.1p, CAW1, hence roughly 10% of current share capital. Put a placing out at 20p gives £50m to the company, just as a simplistic example.

Someone could mention to Keith that his latest submissions at Companies House have incorrect nominal values listed...no big deal though!

This is nothing to do with a rights issue. It just gives the company the option to issue an extra 10% of the share capital in placings if required, which is standard practise for any AIM listed company. At present, this would raise c. £50m if the company decided to do so.

There is more to come over the next few days/ weeks for sure however....

Avizandum1

Komarov is no small fry, in fact he's the man behind the purchase of the Fedorova Tundra deposit last May, so he's well into the PGM space already.

"The beneficiary of the controlling stake and partner of Rostec, according to a source familiar with the new owners of Fedorova tundra, may be Seleznev's former employer - the owner of ChTPZ Andrey Komarov, whose fortune was estimated by Forbes at $ 550 million".

https://www.rbc.ru/business/15/05/2020/5ebd49a99a7947123b2e6937

mac4671,

I'm not sure if this is the article you intended to post, but I must admit to having a chuckle at these quotes:

"About all other projects, Eurasia are reticent, including the search for gold and their 100% owned projects. But then working in Russia imposes a discipline in which Eurasia's management are grand masters.

"Don't say anything you don't have to" might well be their mantra, and given some of the more recent developments in the natural resource sector in Russia, it might be a sensible course to take. In a recent interview with Proactive Investors, Christian Schaffalitsky was very guarded, and took care not to be specific about anything!"

"Although long-term investors must be forgiven if they finally run out of patience with this close-mouthed and secretive operator......at just £6.3 million market cap and with Kola slowly but steadily revealing its potential, plus a possibility of cash flow next year, there could be rewards ahead for those who possess tolerance and tenacity."

From 2006

Just for fun... ;)

There's some interesting opinions form Michael Shellenberger, a prominent environmentalist from California, which you might find of interest, ***. His views go somewhat against the populist perceptions at present. These arguments are pretty hard to refute imho; here's a couple of links to some presentations he has made on YouTube. See what you think..

https://www.youtube.com/watch?v=K9AGx2q_F_0&t=85s

https://www.youtube.com/watch?v=ciStnd9Y2ak

In the past year, Rosgeologia have completed drilling operations in the Vuruchuayvench deposit area, the exploration license of which was held by Norilsk Nickel until 2016. Rosgeo are 100% owned by the Russian state, so the activity here may well be with a view to putting out to auction the rights to the currently dormant license.

Vuruchuayvench is just outside the flanks license granted for MT to Eurasia last August. The drilling has given preliminary calculations of P2 resources (inferred) of c. 10.8M Oz (336 tonnes) of platinum and palladium deposits.

https://www.vnedra.ru/novosti/rosgeologiej-okoncheny-burovye-raboty-po-obnaruzheniyu-metallov-platinovoj-gruppy-na-territorii-murmanskoj-oblasti-10745/

https://webmineral.ru/deposits/item.php?id=2979

https://ar2016.nornik.ru/ru/strategy/business-group/exploration/kola

Below is a link to a pretty comprehensive report on Russian State approved palladium and platinum resources from 2017. There is a lot of information in here, so I won't attempt a precis, but it does show the vast scale of PGM deposits in Russia.

Eurasia gets namechecked around 2/5 of the way down the page re. Tylai-Kosvinskaya (West Kytlim), but also contained here are the breakdown of state approved resources as below for the MT area as at 2017:

"In the Murmansk region, Terskaya Mining Company CJSC (a subsidiary of the British Eurasia Mining Plc) completed exploration work within the Monchetundra massif in 2016, which resulted in the first accounting of PGM reserves for open pit mining in two blocks of the Monchetundrovskoye field.

Loipishnyun and West Nittis : 0.34 tons [10,900 troy oz] of category C1 and 26.2 tons [842,350 troy oz] of category C2; the palladium to platinum ratio averages 2.2: 1. The ores are classified as ordinary low-sulphide platinum-metal ores, enrichment is possible according to an inter-cycle flotation scheme to obtain a copper-nickel-noble metal commercial concentrate with a platinoid content of 75–95 g / t.

At the end of 2017, Rosgeologia completed prospecting work within the Monchegorsk ore region with a predictive assessment of the platinum content of the Nittis-Kumuzhie-Travyanaya and Nyud-Moroshkovoye massifs; resources have been tested in the amount of 24.4 tons [784,500 troy oz] of platinum and 99 tons [3,182,900 troy oz] of palladium in the P1 category and 5.1 tons of platinum and 34.9 tons of palladium in the P2 category.

https://nedradv.ru/nedradv/ru/resources?obj=ab05b068239ede80d3dd35cf40743ddb

The current MCap of Norisk Nickel is c. £34.3bn just to give some perspective...

These new Freeport areas will bear many similar characteristics to the old Enterprise Zones , which gave tax breaks on business rates, employers' NI contributions, and provided for simplified planning permissions. They're not just set up as a mechanism for deferring import duties . The enhanced capital allowances announced in the budget are another obvious plus considering PRE's forthcoming investment.

The new freeport area stretches from the Saltend industrial complex to the outskirts of Paull village.

This at least should speed up the issuing of the CSN report on the construction permit. Then the next step is to get the approval through the Ministry for Ecological Transition; Ribera et al. Not straightforward by any means.. more delays at best I would think.

More here from the Spanish press - I'm personally very surprised that the PP have supported this prospective amendment. It's a critical few weeks ahead for the project - the lawyers for BKY may well be very busy..

https://www.larazon.es/economia/20210224/g22y6fx6rjdh3j5gjehxi7e7iq.html

This would seem to be IMHO a risk reduction exercise by IG. It involves several hundred stocks which in their opinion may be subject to SP volatility in the near future, both positive and negative.

It's not been possible to short many of these stocks through spread bets or CFDS for quite some time; possibly IG now want to exit this more volatile segment and concentrate on more "predictable" outcomes which are easier for them to project their margins. It would also ensure that they are not left with outstanding liabilities which some clients may not be able to meet, both long and short.

There are some good shares on the list as well; again IMHO it should not affect SPs in general as now you are better off buying the physical shares rather then paying the intermediary for the cost of the spread and rolling charges, if you remain positive about your investment.

Ref WShak for this list from Twitter:

https://onedrive.live.com/?authkey=%21APgz4twabksqJNo&cid=B781E949DDEFB3BF&id=B781E949DDEFB3BF%215135&parId=B781E949DDEFB3BF%21135&o=OneUp