Member Info for CHRI5P

To be honest I thought it was open pit due to the low mine construction costs and the 4 year pay back time. My analysis of late has focused on the PEA and the NPV and so the cost of construction and pay back was always factored in. However, obviously a underground mine is riskier and less desirable. Nevertheless, the PFS/DFS etc is only absolutely necessary for funding the project ourselves. GGP, UFO and CB companies didn't have PFS's when they sold JV's or bought more exploration projects so LC is just doing what everyone else does. Except the price of the placement was not good.
MYF
I stand by my averaging down comments last year and it has worked for me when I have timed it right and in the right share but obviously it is not a guarantee. I am not down with EUZ at the moment due to buying very low at consolidation and top slicing at above 20p August 2020 and around 15p March last year. I do exactly what Oiltap said he did but what I never do is buy when a share has spiked.

Yes Shed GGP had no PFS and actually no indicated resources before they received a JV and the shares rocketed. The JV was to finance to a DFS and after the DFS they would have given up 75% of their project but would not need to raise any more money until the finance of the building of the mine which I don't think was open pit like ours will be. GGP are worth over £500 million yet still a long way from mining and they will still need to be part of a big fund raising for the construction of the mine.
We are valued at around a 40th of the NPV of the mine whereas GGP is at around a 15/35th's but PI investors love GGP because there is a high possibility the mine will be constructed now due to the JV and their resources are gold and I think copper.
This is why DBA and others are invested, with or without a PFS if we can show what we have by more drilling and testing a JV could give us a boost and we are already years ahead of where GGP were when they received a JV and they had been disappointing PI's since 2007 until they it gold in 2019. Finally, we are so negative on this board but could it be that the BOD pulled out due to the JV not being attractive enough and the longer Zinc and Lead stay on a 4 year high the higher the 3 year average for a new PEA. The multi-bagger potential is still in EUZ and we are closer to it than we were when we consolidated 19 months ago but there is still a big hurdle and that is we need a partner with deep pockets.

This could happen in a matter of a few weeks because the SP moves on such low volume. Not that I am saying it will. However, I suspect most of the sellers have gone and most shareholders left don't want to sell at this level and there's a lot of investors who have bought in or increased at 5p. I agree the SP should have been higher before the placement and with our resources increasing in size and price the management failed but the asset is still there. One thing about placings is that if you are a bit more liquid than we are such as EUA, GGP and even KAV, then you raise the money to investors who have already forward sold the shares that they supposedly purchased has a new investors. That did not happen to us so I do believe we have new investors because they see value and not to make a guaranteed quick buck.

Shed happy new year and I agree with most of what you've posted over the last few days.

I am happy Bennelong are invested and do think it is positive. In fact the level of institutional investment is very high in EUZ compared with other similar sized companies. I am always wanting to see positives and if the SP can start to rise on the results now over due and if a JV is announced (this is what both UFO and GGP did before they increased tenfold) then we might increase above the 12.5 where warrants could be worth exercising and raise around £700,000. I am not saying it will just that it might and then again in 12 months time we might have just had a funding and PFS still not in sight. Bennelong and DBA don't invest to lose money so I think there will be a big rise at some point next year but can't deny it won't be a pump and dump. However, I do expect a rollercoaster SP ride because the asset is looking good but management have not yet got the ability to sell the company to the PI's who we need to buy shares or not sell up like BricksSA. I am in a good position because I bought most of my shares before and just after consolidation 18 months ago and like Shed top sliced when the SP was at 20p. EUZ has very little debt (grant funding) and so we can keep going for a long time raising money and dilution but as long as the mine is accessible the resources are there and the resources price stays high we can hope for a positive outcome.

Best wishes everyone and good luck BricksSA and I congratulate your willingness to leave a share when you're at such despair with the directors you feel the only thing is to sell up like Oiltap. I still think there is a future and I also think Zinc will be at a very good price (current and 3 yearly) when we we do get a PFS and then DFS. However, my predictions on this SP have not been good over the last 12 months. Personally, I would not buy EUA now too much that could go wrong and the upside has mainly already happened but do look at GLR where OILTAP is well invested and are definitely under the radar with a market value of £10 million. I don't think at the end of the year mentioning other shares is a crime. Someone mentioned EUA on the WTI board around Xmas 2017, the funny thing is I lost all my money in WTI but EUA made it all back ten fold. It is strange to think that losing so much on one share opened my eyes to another.

I completely understand where people on this board are coming from and to me unless the BOD talk up the SP like in a lot of other AIM companies such as KAV which is all they ever do. KAV have no inferred resources just helicopter surveys yet they are worth £23 million and so are able to raise money with little dilution but they RNS when they have made themselves a cup of tea. This is where the BOD get it wrong in that they need to update more to keep a PI invested. KAV even if they get some data on resources are at least 5 years off proving with loads of placings required yet we should not be that far off but still further than I hoped last year. We still have a good exploration project and we are so, so undervalued.

well said Westlad

Ella Ok
Let's agree to disagree on the very positive news on our drilling.
I don't think CB needed to say we have not found copper and just explain what we did find - PI's are very fickle and do not read or fully understand the mining exploration process. Just on the SFR drilling we SP should have moved higher.

WHOROTETHIS - I think Ella is comparing us to KAV. KAV have not found anything yet with their drills but their COE keeps dangling a positive storyline that there might be. CB is more black and white and said we have not found copper because SFR did find some on their first drill but also CB stated that the GLR drills were just what they expected. KAV have not found copper but they avoided a statement like that for obvious reasons. However, KAV might well find a huge copper deposit but it is all about perception at this point in time.

Sorry, Bobcat 'will allow me to sell all my holdings' prove it and press the button and let us know!

Very good news and more to come - CB knows this and that is why he owns more than 7% of the company.

Garbo have to sell at least 50% of the license by August 22, hence we will have 51% by spending £500K only. Also, Zambia in the past has not been that good to do business but better know. We might have a little gem here without a large outlay due to the circumstances. CB might have done it again and backs up him being paid in shares rather than cash.

Cjen I bought some at 0.015 just before consolidation and I think it went go down to 0.10 and the the 500 consolidation came in and they went to 5p but that same day they went down lower and I think their was a sell at 3.5p but they slowly went back towards 6p for a week before a pump to 27 intra high a week or so later. However, the facts are that the SP has gone nowhere in the last 18 months.

I really do believe that the company with the new investor on board like UFO was, will now be more proactive rather than un-active with news.

500k of shares bought since 1:00 pm could we be at the bottom of this cycle?

On a more serious note I was in WTI and I thought I had lost too much to sell out even though PI's were saying it would be bankrupt - I did not listen and lost the lot. So if you are felling so aggrieved and feel the company cannot deliver then you should sell now because you might regret it. Oiltop sold out and has done well from it.

we are now up 6% has BB sold out and put short in place!

We have movement again shares up 3 %again

If we can come out of this SP slump and get to 50% of TP's value at 17p then their is 5.6 million of warrants ready to be exercised before April 2022 which would raise over £600,000. Everyone on this board thinks I'm mad but when you have the top 20 shareholders owning 80% of the company and I realise these include II, Barclays and Hargreaves etc this a very high percentage. If the shares do start to turn they could move quickly but just to balance things up if it did move it could be a traders pump and dump. Yesterday when I put a dummy buy in the most you could get was 50,000.

I am actually a lot happy now that it looks like we are looking for a JV partner or a farm out with our 100% owned Toral. If we look at both GGP and UFO that is exactly what they did and the actual terms were not that great but both SP's went the roof initially and both did it well before a PFS or any actual indicated resources so it can be done with Toral.