Member Info for CHRI5P

So we are working with Denarius in Option 1 which would make sense because Denarius only get 51% when Option 1 is completed, Myles made it quite clear. Denarius are trying to save their falling SP with not mentioning EUZ and I hope they do bolster their SP. We are 3 years away from Option 2 and it will only happen if it is large enough for Denarius to spend tens of millions to get the project to a DFS if they commit millions to get the enlarged area to a PFS and $2 million for us. Option 2 is not a given or a give away it is a massive commitment which Denarius will need to fund or EMI gets sold at the end of Option 1 or when Option 2 is done.

Thanks Cjen. So that clears up who is operating the development and that is even better news so we will have absolutely no cost associated with EMI - the agreement in my mind did not make that clear.
Everthing I said in the possible outcomes still stands and Denarius will lose overall control if they do not complete stage 2. Denarius must believe that the enlarged Toral must be huge because they are going to have to raise a lot of money to get it to beyond stage 2. EUZ need another project and it is obvious to me that they should already have other projects like every other AIM miner does. You start with an area of interest which might have an exploration license which you buy for a couple of hundred thousand and then do the initial work to see if it is worth drilling - not that much money to start.
The negativity on this board for the last 2 years has not helped our cause, management have spent too much on admin and we have failed to get Toral to a DFS which I think could have happened given different circumstances. Shed, Cjen you deserve better.

The more I read the agreement the happier I am. Yes, the mining is at least 4 years away. However, we will get 20% of something massive (Denarius will not continue unless it is) and $2 million if option 11 is completed, have 51% of something far bigger than we have now but we might only have Toral but have a mining licence if only opinion 1 completed, own 100% and have a PFS and mining license dut Denarius failed to complete option 1 or we fail to complete the PFS and we are worthless. Take your pick.

So if option 11 is not completed then EUZ will own 51% of EMI and will be in charge or EMI. BricksSA I mentioned the EMI profit a few days and no one commented. I suspet it is due to the money from the grant and not all of it's been spent.

BricksSA it definitely says in the agreement Denarius will transfer 2% of the EMI shares to EUZ. Which would make sense if Options 11 is not completed.

IMO EUZ will still have a lot to do to get Toral to start option 11. When Option1 is complete we get our $2,000,000 and Denarius will own 51% and they will fund the rest and I expect them to do all the work to complete option 11. If Denarius don't complete option 11 we are still in charge.

So, the new shares are issued today but not expecting any of them to be sold for a long time - should be in safe hands.

Maddogpete - I don't own XTR because I am in big with GLR but do research CB's other companies.

I have been researching XTR and they have some good assets. If there 2 million tons had come true then the SP would have quadrupled but it didn't and the SP fell. XTR are cheap now because they weren't priced to have 2 million tons they were priced to have much less. CB is getting a bad name wrongly in my opinion. GLR is not priced for what it could have but for like XTR for disappointment, it won't happen, we have a CEO who is far too optimistic but what happens if only one of the assets comes true nevermind 5 of them. This is a multi-bagger in the waiting not because of all the potential, the cash in the bank but because we are valued to fail.

AIM exploration/mining is on the floor and there are too many companies that will fail. I don't think XTR will fail and from the research I've done lately could still be massive. I am not invested here yet due to having big positions in 2 other AIM Explorer's who like XTR are well undervalued. Yes, the 1.1 million is disappointing, your CEO was too optimistic and 2 million would probably have seen XTR SP go through the roof but you still have some very good assets and copper IMO is going to be in demand for at least a decade or more.

I've unfiltered you Highside - I read your latest post accidentally via my phone which does not have me signed in. Anyone, who invested at £100 deserves a fair shout.

Someone on ADVFN called Spec7 said that they invested at 20p before the 500 to 1 consolidation which would mean they invested at £100 per share initially. I think that demonstrates the disappointment and mining costs of this project. We will not get back to £100 a share but I think 10p next year is a possibility if the deal goes through.

US$6m farm in payments, which can now be dedicated to new projects - where does it say this!

I agree BricksSA that Denarius are running the show because it is their money. However, if they don't deliver it comes back to EUZ.

$2 million not $2,000

One final thing about a PEA and I did mention this last year if the PFS dragged on because between 1st January, 2020, and August 2020 the base metal prices were on the floor so by November 2023 the 3-year average prices will be massively higher, and it will be in our interest to have a PEA well after that date when Denarius has spent more money proving up Toral after the mining license/PFS. Remember Denarius are spending $2 million after we get the mining license on Toral! This will give Denarius a much higher SP to raise funds to pay EUZ the $2,000 and the funding to complete a PFS on the enlarged area.

Shed, Bricks I take it that the PFS will be finished to apply for the mining license on Toral. Option 1 requires Denarius to spend $4 million + complete an updated PEA + mining license on Toral all separate targets. It did not say how the $4 million would be spent in this summary, what is required to get the mining license, but the PEA is a new addition to the Option 1 summary. The PEA will hopefully be good news for both Denarius and EUZ and give a boost to SP's.

BricksSA

from the initial RNS:
o US$650,000 in two tranches to be utilised by Europa Metals to fund completion of a pre-feasibility study and mining licence application for the Toral Project

From yesterdays:
o it assuming operatorship and making expenditures on the Toral Project of US$4,000,000; and

o completion of a preliminary economic assessment ("43-101 PEA") compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on the Toral Project.

o Expenditures to include the completion and submission of a mining licence application in respect of Toral to the local Junta by 31 July 2023.

I think the submission of the mining license includes completing a PFS for Toral and Myles said this in the podcast. I think submission of a mining license includes having a PFS. Denarius will pay for the second PFS for the enlarged area in Option 2.

I am very pleased with DBA and when they get their subscription done on the 28th I will look to raise my stake back up to just under 3% or 2.7 million shares.

Cjen, absolutely the headline is all PI's are looking at not the detail.