Member Info for CHRI5P

Well, we know DBA aren't going to be forward selling. To me it is about sentiment in the marketplace and Denarius is not Rio.

Shed I did try to explain this in previous posts but due to me be dyslexic (I expect most people guessed this) I sometimes don't get my point across that well. Yes, we will have no other cost to run Toral until we get the mining license and the PFS for the enlarged area other than the EUZ cost associated with having EMI which should be minimal. Hence, why we will be looking at other projects. All the risk is with Denarius, and I am OK with 20% of an enlarged area which I suspect will be at least double what we thought we had last year and $2 million in the bank.
The new company EMI will not be subject to our £40 million and counting Australian losses rules and so I suspect that if EMI goes public with a listing share could be distributed to shareholders in 4/5 years'!

Yes I am suprised the SP didn't increase anove the 4.5p. This IMO is due to sentiment being at a low for exploration companies with AIM miners like GGP, EUA, KAV and many more down over 50% this year.
Reading the RNS in full was interesting and so the monies for the new company EMI which will develop Toral will be for 4 million US dollars in a loan format but if Denarius do not complete Option 1 the loan reduces to $1 and they have no stake in EMI. The time limit is 3 years. If they don't complete option 2 and they have already paid us the $2 million but don't get the combined area to a PFS they will need to give EUZ 2% of the share so we become the largest shareholder again. From all this Denarius are going to put a lot into Toral and be committed because they might lose control in the end.
DBA are increasing their holding by £330K or 10% which is a major boost and will be part of the 2021 raising mandate not 2022.
All in all this is a great RNS and does lead the way for Toral to be developed without us taking so much funding risk. One final thing is that I am sure I read that EMI made 100,000 dollars profit (how)! My own opinion is that shortly after opinion 2 if it gets there (mining licence, PFS on enlarged area) EMI will be sold.

This was a good RNS update. We have a fantastic portfolio of assets. The re-rate to our SP is long overdue and if we were in this position 2 years ago we would be closer to 10p. Momentum, in the AIM mining companies is at a low with many, many miners below half or more of the value they were this time last year, GGP, KAV, RMM and EUA to name a few. Then you have the cost of living dilemma with people having to sell or not commit monies to risky exploration companies. However, there will be a time maybe next year when the momentum will be back because the larger miners are so very short of assets and will need to splash the cash. I cannot think of a exploration company where that money is more destined to go to - we are on the crusp of a significant re-rate it is just a question of when not if. IMO

A placing done at a premium means we have long term investors whilst at a discount the shares could already have been forward sold and the II are just buying the shares they sold back. This is very, very good news. The deal to me is now a formality and Shareholders will push this through - I know I will put my 2.5% behind it.
I am pleased to see Denarius move higher we need each other. BrickSA sorry about the outburst the other day but you were starting to sound like the old BB and your timing was not good for me after a really good update.

Announcement is on HL

I can't imagine where the SP will end today!

What an RNS. Raising money at a 60% premium.

I was comparing Denarius SP with EUZ's before the consolidation and post the deal and Denarius has fallen a lot more. Yes they will end up with 80 but will need to raise a lot of money to get the joint area to a DFS. I do hope the Denarius SP recovers because we need this deal.

Shed, I have not seen anything in any RNS which suggest they need approval for the deal from shareholders. Wouldn't they have included it in the AGM resolutions?

I have owned RMM but sold out before the collapse due to the debt. Forward selling shows confidence that RRM are not going bust and is part of the refinancing. That is good news. You can only forward a certain amount because if you can't supply the copper and the copper price goes through the roof then you have to buy it on the open market to fulfill the contract. If I was a shareholder I would want the suspension to take its course and a 20% in copper last week might have saved RMM. I am confident you will come out of suspension and hopefully copper will be back to all time highs. When you do come out of suspension RMM will be one massive leverage on copper and I sincerely hope RMM can make it big.

I was impressed with the interview and just underlines the assets we have. I bought some more yesterday and the day before at around 1.45 p. GLR is my largest holding and we are very very close to some re-rating RNS's. Watch this space.

The reason that I said the Mining license was a formality was from Myles's podcast after the Denarius RNS which he to me inferred it was a formality.

Agreed Shed, I want to apologise for my outburst. The negativity from a previous holder after a good RNS was one too many posts which seemed to be deliberately poisonous and then the follow up email was condescending and patronising.

BrickSA thank God you have gone goodbye. By the way I have made a fortune on AIM mining have you?

That does not make me feel better.

BricksSA you have sold out so you do not need to worry unless you are trying to spread negativity to get in at a much lower price. 20% of something massive is better than 100% of nothing. The mining licence is a formality when we have the backing from Denarius. We are worth £3 million which is peanuts compared to having 20% of the Toral enlarged area with a mining licence and $2 million in the bank.

Thie is good news and will make Denarius's decision to sign straightforward. We cannot go it alone there is just too poor a vibe around EUZ. Too much negativity and the idea that we could raise enough to get the project beyond a mining license to a DFS is just not an option. Hence for me there is no plan B. A new project to go alongside is far less expensive than taking Toral and the Antonina to a DFS. You could blame the BOD for miss management of funds over the last decade and people on this board have but it is what it is. The administration cost does not increase that much when you have more than one exploration license and that is money has been wasted. Too much directors, admin staff etc not having enough to do for their salaries. GLR admin costs are less than ours and they are working on 4 projects.

To think of all those negatige comments last year suggesting we would need a placing in 3 or 6 months were completely wrong. We will have gone past 12 months which is very, very rare on AIM mining.
BricksSA we have given up 51% to get to PFS and funding for a much bigger area and 80% to get a PFS of a much larger area and $2 million in the bank wich is around 2 thirds of our current value. Yes, not a 10/20 times bagger but a 5 bagger early next year IMO.
I don't understand the fear of a new project/exploration licence. GLR, UFO and many other AIM miners have found good projets which have increased the SP at the time of announcement and have allowed the companies to increase their footprint and be more a viable prospect. The last few months have gone well but the deal is very important for EUZ.

To be honest I would be anoyed if resolution 3 and 4 were not there. How can the BOD make a purchase of an exploration license from another company if it could not act fast. Can you imagine when negotiations are being done and the offer is accepted and the vendor asks for the payment and the BOD then says well we need to organise an EGM and wait for our shareholders to let me raise the capitai!