Member Info for CHRI5P

The new project will unlikely be cash generative instead a similar project to Toral when we first bought it. I have already said that if we do sell a large part of Toral, management will not have much to do. CB bought some licenses for less than £500 million giving away shares and cash. The cash was raised with a small placing.
The sort of projects we will be buying IMO are areas where close by resources have been found but drilling is limited which needs a lot of proving up or areas where mining was abandoned because the resources was out of favour but might be worth a relook now. This is exactly what your KAV's, UFO's, GGP's and many other exploration miners do apart from EUZ.

WTF - I think I will hide for a few months.

No Buyers - down we go and Zinc a few dollars of all time highs.

Zin $96 up and could well finish on an all time high which was last se October 2 2006!

Up $96 now - all time high close today - amazing!

Well said Shed.

MM I think you get to measured at the final stage the definitive feasibility study DFS. Anyone who thinks the price of Zinc is not important is deranged and the 3 year average is used for the DFS and is also a major consideration to warrant a PFS. 2 years ago when I invested in EUZ in 2020 the resources we had were at 5 year lows I suspect a PFS would not have been worth going for but now with zinc over 100% higher, 3% off record highs, more resources and Shed's hydro research done we are IMO waiting for very good news as long as the drilling results are OK. I mentioned we had a million more Australian dollars than last year which was at 31 December year end and we have cut costs savagely which means we can last until the end of the year without a placing. I only believe we will have a placing if we buy a 2nd exploration project because most of it will be paid for in shares, a royalty given and a small amount of cash say £150K - this is how they work. I see a lot of flash AIM stocks like KAV who are worth £12 million but they are still drilling for their infered resources let alone indicated.

Zinc is on the brink of an all time high and we have a huge opportunity. This company has so much going for it I actually do believe 20p is achieved this year. Once the PI's start to realise there will be no stopping the SP.

Yes zinc is in massive demand. Last year I think a few of us me included got carried away thinking a PFS was closure than we thought but not Shed, Grappa and BB. I suspect you could say that we were well over valued 12 months ago and that was the time to do another placing.
The big miners are not investing in new mining yet because last time 2010 they over invested and industrial metals crashed and mining shares were toast. This time it is different and metals like zinc, lithium, cobalt, copper and nickel are a one way bet IMO.
So just because the PI's think we are a dog means absolutely nothing because yes my timeline was wrong last year but once the SP moves there will be no stopping it but even with what we have and the potential of the asset we have a valuations of £10 million in my opinion would be extremely cheap.
Most PI's buy when shares are going up and cut their losses on the way down. However, if you can buy when everyone one has sold and the busines prospects haven't changed (IMO EUZ is looking better and derisked) then you have a chance of catching a multi-bagger.

The buyers are back and we are up .05p

We had already done drills but we have had no news that further drilling is being done or completed since Nov 8th. This is why I think we have actually put that drilling on the back burner to see what SFR find.

Y on y zinc up 50% and lead up 25% , we are further down the line in proving what we have and we have a million more Australian dollars in the bank. Yet the company is worth a third of what it was this time last year. AIM market is about a beauty contest and real valuations make absolutely no sense at all.

Data I did not believe your post last night and then I just listened to CB. We are in an amazing position.

I believe that the KCB licenses we own are being sidelined. We have done some drilling and found what we have needed to and SFR have actually found copper in their licenses. SFR are spending £4, million to prove up their licenses and I suspect if the news is good they will want to buy us out of KCB which would make sense for us at the right price. SFR are all over the KCB region whereas we would incur huge exploration costs to get to a mining license. We are sitting pretty on many fronts.

I have invested in and seen many exploration miners have more than one project and to me this was part of the problem. Too many experts using their experience on too little work costing too much for their endeavours. CB bought exploration licences in 2020 for less than £500,000 and many more with GLR later. Selling 9 of the 30 licences to SFR for around 4 million and still retaining a 80 million payout if it goes well. The company has 7 exploration projects and CB is in charge of 4 other companies and he his 78 years old. These exploration licenses do not cost that much it is the cost of proving them up that is the real cost and don't we all no it. It also takes years if not decades. The other thing is purchases are structured in a way to reduce up front costs. Such as with a small amount of cash, shares and royalties. I am pleased the cash burn is reducing. I also believe Toral will be in another companies control with us having the smaller share but the almost certainty of no more costs associated with Toral until the financing or the mine being built. However, what would EUZ do with no other project. In fact if we are giving up control and all the work going forward then we would need another exploration project that to me would make perfect sense.

I find it interesting that the SP rose today on such low volume and yesterday there were also quite a few sells. Might it be that the MM's are filling a large order and needed to raise the offer price to facilitate it?

I think what we have spent is the equitable reasoning and would come into play if only as taken as a loss against taxable profits when they arrive. However, AIM SP's do not give a valid valuation in many cases so the percentage given will be based on what they think we have, the cost of getting it out and the desirability of we have, how much interest but also how desperate we are in selling. Someone, has said before that why don't they just by the share on the secondary market but they will know that will mean that once they have accumulated 3% the SP will have already risen and the RNS saying the 3% stake will cause a huge spike. So if we have the beans someone will pay far higher price than what the SP suggests currently.

Nothing is equitable when you are AIM mining. I think GGP sold their 75% for something like $200 million yet 4 months later GGP were worth $2 billion. Work that one out.

I think 51% will be the minimum because the partner will want control. GGP gave up 75% but they had not done the drilling required to show any indicative resources or and PFS work.

Shed I am also looking to fund up to and including a DFS and funding to build the mine and mining set up costs etc which quite often is mainly via a loan

funded including the DFS