Member Info for CHRI5P

I am thinking that the next RNS will be the complete sale of our Denarius shares followed by the AGM notice. When looking at the results our cash position was much higher than expected which suggests we had already sold some more Denarius shares without RNS's it. AIMO.

Maybe Iky is CB in disguise!

Suspension is over 6 months long and this is now irrelevant because we will go private for a short period and relist in a RTO. When we have the general meeting we will return what capital we have (Myles also said this in May) and vote for a RTO. When we return capital we become a shell company for Murala to use as their listing on AIM to satisfy their long-term funding agreement. I was surprised how long it was taking to return capital and we now know why. I was hoping we would sell our name and do a RTO. This might be the reason Myles was getting tax advice from Australian authorities.

I think this is a good estimate and from my calculations would value EUZ at 1.5p a share.

5 million buy just been worked through and the other day a 3 million one. Maybe a TR1 is on the way?

Murula are in a hurry because the short-term bridge funding they have in place is not cheap and they want to move their assets forward. Just look at thier RNS record. We need the general meeting to deĺist EUZ and send over the capital to shareholders probably before the end of the year. In the new year we relist with the RTO in place and signed off by solicitors paid by Murula and the regulator. Both parties will not want any delay.

If we don't do this RTO we might look elsewhere but I think this one is the one for me.

The total cost of the RTO will come from MURALA so EUZ will not need any money before relisting, hence the capital return to shareholders. Basically as I see it Murala are paying just over 3.2% of their company to EUZ shareholders so that they receive a AIM listing quickly to get the £25 million long-term funding done.

0.0048 pounds or 0.48p a EUZ share

However, with the funding announced and all the potential assets Mural have it could be worth £60 million after the RTO and EUZ shares could be worth almost 2p.

Andii I don't no where you get your figures from but Murala shareholders will receive 9 EUZ shares for EUZ taking over Murula's assets and debts. EUZ will delist and give back all its assets to shareholders. A reverse takeover of Mural by EUZ with EUZ relisting on the AIM market. If you value Mural at 4.5p a share and their are 338 million shares then the value of the new company is £15.21 million. However, this equates to (9× 338 million) + 102 million existing EUZ shareholders. Value each EUZ share at 0.0048p a share.

FS I get where you're coming from but from experience I have seen too many small exploration companies go bust when they take on debt to mine. BZT is going this way because they have no other option and it might work. However, GLR have so much exploration they can do to enhance their portfolio and Luansobe is in demand so why risk the extra capital expenditure to mine and the unknown when a sale is money in the bank

Yes the idiots want a 50% SP increase so that they can sell out but I want a 10 bagger and so does the large investors that actually matter.

The SP on the JSE finished at 6p

The most important stats on copper for a DFS or sale is the 3 year average and is the future copper supply in deficit. The latter is a fact. The former due to continuing higher prices this year is getting better. We have the right to be extremely greedy the longer copper prices keep going north.

Considering where we have been over the last 18 months I am extremely happy with this outcome. I bought millions at an average of 1.25 last year so getting 2p back for those trades and a potential RTO would be great. It will not make up for my losses because I need 3p. However, getting 2p back means I only need the RTO to happen and make 1p for me to be even. This is a very good deal for EUZ in the circumstances. Remember the RTO is a freebie.

I expect to see an AGM notice soon and a sale of all Denarius shares. We will not require to hold any cash or investments before the RTO.

This RTO is a win, win for all parties. Murula get a cheap, quick listing with substantial losses while EUZ get a stake in a promising and undervalued assets for free. Can't wait to get the EUZ AGM over and done with.

If you put a value of 4.5p (mid range for the last 12 months and an uplift)on Mural then we are paying around 0.5p a EUZ share - 4.5/9. The dilution will be massive. EUZ shareholders will own about 4% of a company worth around £15 million if there is an uplift. However, with financing in place the uplift could be a lot higher!

EUZ is worth the equivalent of 2.42p a share on the JSE

It looks a very opportunistic RTO. From what I gather we are going to get a capital payment of between 1.5p and 2p depending when we sell our Denarius shares and then relist with a small share of new assets. Basically, we are being paid for our listing and maybe our tax losses!

I pray we don't go down the prem route.

I don't want to be loaded up with debt.

Selling outright or partly with a stake is always the best option. Loading up with debt almost never works.