Member Info for CHRI5P

What I am sure about is if it goes ahead we will be valued at a lot more than £2 million after the raise. What we don't know is how much we need to raise to buyout Viridian and cash to get through the DFS and for me what price will new investors pay. I think the loans are director loans and if they can be transferred to EUZ's balance sheet and can be paid back to the director/directors when cash flow allows it.

In the Video they talked about a listing before the fund raising for the construction of the plant.

Maybe they raised most of the €3.5 million but they need EUZ so as to become listed (cheaper than IPO) and to raise funds to finish the DFS. Very interesting.

No they don't Irish but 12 months ago CB definitely relayed this as the most profitable option

Thank you for the video Shed.

So I suspect Viridian failed in raising the €3.5 million hence the RTO.

The raise if successful would have valued the company at €14 million

The plant will be funded by loans

€22 million cost of basic plant with a projected after tax cash flow of €10 million for a life of over 10 years

Let's see the financial details for EUZ but it looks like they need us as a shell company to move forward and so the terms could be very beneficial to EUZ

Shed this is still big bucks in comparison to EUZ's current market valuation and we must be getting in at a good price to facilitate the funding to complete the DFS. The RTO could well give the EUZ SP a welcome boost but the proof will be in the details.

0.6 × 0.043 = 0.0258 = 2.58p

Shed WTF which idiot is claiming it will cost €70,000,000?

The DFS will evaluate the cost of the plant, potential output, profit and year's until capital expenditure paid back so that money can be raised via mainly by the banks to fund the plant and initial production. To justify spending €70,000,000 then this tailings potential must be pretty big and we would be making at least €20,000,000 profit a year.

0.6 × 0.43 = 0.0258 or 2.58p a share

Elzis I am thinking that the RTO is so compelling and that we have to sell EMI to move forward on the RTO because I agree that the sale to Denarius is so low we must of requested it rather than the other way round.

Yes Shed the DFS is for the tailings which Jupiter mining is doing very well in. I initially thought that the Denarius shares were collateral but could it be that the RTO will only happen if EUZ sells EMI. At the end of the day £2 million of Denarius shares is not a huge amount of collateral.

Shed the details on Viridian are required but 2 good points are that we are going for a DFS which means all the proving up is done (far ahead of where Toral is now) and so we will now be completing the funding part before minining and we have the expertise of a Jupiter mining director who have a huge plant on this type of mining in Africa. Hence, it might be EUZ wanting to release themselves from Toral to action this RTO.

An RTO is usually beneficial to both parties. The acquired gets a public listing on the cheap and an injection of cash from new investors and the buyer (EUZ) a good price to get in. With the Denarius deal this could give the SP a boost. If the new investors were needing to pay 4/5p a share for the fund raise then I would be very happy. Although, this will definitely IMO not be a 10 bagger anymore but a less risky investment with growth prospects.

The Denarius shares at cad 0.5 are worth around 2p per share so the RTO needs to encourage new investors well above the 2p level.

I do agree that we should look at the RTO Cjen but I am sceptical. The EUZ SP was up yesterday in South Africa at a level of 2.68p equivalent. I think the level at which new investors come in will speak volumes. If they are prepared to pay over 3p a share to be part of the RTO which is close to having a DFS then OK but if they are only prepared to pay 2p or less then the RTO is a no, no for me.

At the moment we are 100% EMI and we are selling 100% of EMI so MM I don't understand what else is there of EUZ to sell?

I think that from Denarius themselves Option 2 is dead and that they have relayed this to EUZ.

They are stretched both on timescales and finances and so Option 2 is a complete no, no.

They are struggling to complete option 1 and so have offered us a deal.

My biggest concern on the Denarius deal was that Option 2 was not taken up because it leaves us needing to raise 51% the funding which Denarius might not take part it to get what looks like a large resource to a DFS.

We have 3 options:

1. Say yes on both the Denarius deal and the RTO but to raise more money dilutes the number of Denarius shares we can have each and eventually they are sold and we are wiped out.

2.Say no to the RTO and yes to the Denarius deal and force the company to desolve EUZ and share out the Denarius shares.

3.Say no on both which would force Denarius to finish Option 1 or walk away today but we will require a huge amount of funding which is not available.

My vote is definitely with Option 2

Yes Cjen someone posted the old ticker. I thought Denarius would buy us out now using their shares and I think I posted but I was expecting more. If EUZ gets dissolved I think the shares can be distributed which is what I am now hoping for.

If Myles says that in 4 months time the Denarius shares will be distributed to EUZ shareholders then I can live with that. However, if the Denarius shares are being used for collateral or will be sold down to fund the RTO, then it is a no from me.

EUZ was worth £1.95 million last night and we are selling EMI for £1.95 million including the grant/loans we own. Denarius need to buyout EUZ and shareholders receive approximately 7 Denarius each and disolve EUZ. Can't say I am happy but changing EUZ shares for Denarius shares gives us more projects and in a more liquid company. If we can say yes to the sale and no to the RTO then EUZ would need to hand out the Denarius shares. EUZ could then be sold as a shell company with tax advantages.

I think £70 million for our 75% of Luansobe and we keep the unknown third licence of the possible 65/70 million tons contained copper is a reasonable deal.