Member Info for CHRI5P

It's quite strange the response on the boards. When I read the RNS my reaction was fantastic and I wished I had bought more beforehand. The dividend is around 6% for the year and supported but the reasons for the unwarranted share price fall last year have turned around. The SP is well cheap and unless there is a stockmarket crash are a definite buy IMO.

Yes, they're up 10% which is a good sign for EUZ.

BrickSA did you take the RI up - big news tomorrow - fingers crossed?

Shed I take your point and mine was a more general point and salaries for 2 directors was not required for 1 project IMO.

People who invested in EUZ ten years ago were inexperienced in the mining industry. No one should invest in a project that requires so much proving up but investors see the numbers rather than the time and cost required to turn a prospect into an asset. So many PI's have lost money over the last 10 years in many projects. Have a look at KAV down 84% over less than 2 years, have a large area of exploration licenses but to date have found dust but they are worth £8 million. We have always had excellent drilling and resource updates which suggest we will have 20% of a decent mine in say 5 years time - the main hurdle is the ability of Denarius to finance it. I feel EUZ's worst crime is their overspend and anyone who follows CB can see that he is good not just on the deals but also with the cost control. We realized this too late and I blame LR for that. BB you have only yourself to blame and hopefully you have learnt an expensive lesson. EUZ is very undervalued and the potential is still huge but all the cost/expense is now with Denarius.

Weill said MM, Denarius just above 0.4 so anyone who takes up the offer will get warrants which could be worth between 0.05 and 0.1 - that's if they can be traded on the market which is what I would expect.

OK Shed, I was going on the date the exploation licence extension was granted in October and the 3 years to apply for a ML. Denarius are going to priorities the ML

I think EMI proposes to have the mining license in for July but they have until October. Denarius have other mines so EMI is not the only prospect. Denarius SP is very cheap at 0.435 but there is a lot of dilution comming.

BricksSA did you take up the Rights Offer for Denarius or are you going to?
Denarius SP still at 0.435 which is looking good for the funding and should be good for EUZ SP.

Shed I can see a large investor taking a 5 or 10% stake because we are well undervalued and we will have limited placements until we find another project. The next project will likely be to prove up an area again.

Agreed Shed

I suspect that the drills are to grow the business still. We were told that we required £650,000 to get the PFS for Toral and the ML. Then it changed to a PEA. The main purpose of the PEA is to justify the Junta giving us the ML. I suspect that we already have enough data for that reauired PEA. I agree the they will not have enough time to analyse the dd drills and we don't have time if they requir further drills etc. EUZ probably ask the Junta if they would accept a PEA to save cost and a PFS was going to be completed on the much larger area. Just because you recieve a ML doesn't mean you can't expand the area afterwards.

Denarius have to get the PEA and ML done regardless of their drills because the drills will have no value if they don't.

If all the Denarius rights issue is taken up and all the warrants are exercised then there will be 3 times the number of shares so 66% dilution on it's own.

Shed the £400 million NPV will not be in July but in 4 years time when we have received our £2 miillion and Denarius will probably have spent at least £6 million if not 10 million gettingi the whole area to a PFS . I suspect the PEA in July to show north of £200 million easily. Denarius will need to raise huge somes of money, hence why their shares have tanked since the deal and will be under presure of furthe dilution. The one for one warrants alone are a massive dilution.

Once the funding is complete (fingers still crossed) there will be an update PEA. The Old PEA demostrated a value of I think £140 million. The new one will be far higher considering a much higher resources 3 year average price, far more resources and easier to extract. This is where Denarius will be hoping for a SP boost. Then Denarius will try and increase the area further with more drilling and hopefully including Antonina. The NPV of the mine could be worth £400 million when the PFS is complete which would equate to £80 million to EUZ or 85p a share. This might let PI's understand why the fair value is 11.7p because you can't value it on the potential NPV but a percentage of the potential NPV. Having no more dilution means that you can make these pridictions with more confidence.

No guess it would be 20% while the deal is live and is probably based on the old report. No more dilution in regards to Toral/Antonina is a masive plus for the EUZ SP once Denarius is shown to be up to the task of funding the huge investment they are required to complete.

Denarius up 6% a week before the close of thr RI is good news. For me like you Shed the financing of the deal in consideration of who was making it was a big hurdle. This time next week hopefully we will have had justified re-rate.

Denarius SP is holding just above the rights offer price so with the one for one warrants attached would suggest it is still worthwhile to take it up. Only a week to go and I have my fingers crossed that they can raise the full amount and should give EUZ SP a boost.

The best thing from the WHI note I thought was when it says, that the deal with Denarius allows funds to get through the definitive feasibility study (DFS). The DFS is the last stage when you raise the money to build the mine infrastructure. This suggests no more dilution or only at the DFS stage for EUZ in consideration of Toral/Antonina. When you take this into account and the fund raising is complete on 24th February you start to understand why EUZ SP is worth 11p. I just don't believe PI's ger it but I understand the level of disappointment for LTH's with EUZ over the last 10 years and so EUZ need to really spell it out.