Member Info for Cjen

T8007
These are the questions that should be asked at the General meeting.

Bobby I gets even muddied as people keep imagining new and scary scenarios. Best plan is to wait until after the 15th of July, gather the facts post general meeting and then act from an informed position.

Ziqirat. On my kitchen table there is a large cake divided into 50 slices and Ten of those slices are mine. Now I cut it again into 100 slices but 20 of them are mine.
How much cake have Iost ?

I just spent 20 minutes watching this old presentation on EUZ put together by Turner Pope. In advance of the general meeting on the 15th of July it might be worth re watching.

https://youtu.be/sjsuBwmRI2c

Bobby. I could not agree with you more. Suspending the share prior to the General meeting would have been extremely sensible and saved shareholders a lot of anguish.

Radka. I believe that date will be the 14th of July

Steadfast. The short answer is NO.

You will be advised of the intention to liquidate your shares and you can write to your broker and instruct them to continue to hold.
Anyone with a small share holding in a brokers nominated account will believe be exempt.

cjen

If the motion to consolidate is passed at the general meeting then your 13m shares will be converted to 26000 new shares.
Your percentage holding in EUZ will not change.

As good as our asset is our resource is currently circa 18 million tonnes of Lead and 2.7 million tonnes of Zinc plus the additional Silver credit.
I am lead to believe that the industry would wish to see a resource of 30 million tonnes .
Toral is open at depth and open to the East, presumably with more of the asset to be proven and recorded.
Increasing the recovery percentage from the concentrate is very helpful, but I feel that the need to explore the asset further will be required before we are done.

Consolidation is item 1 on the agenda at the general meeting on July 15th. Assuming it is passed by shareholders then the consolidation of shares will be transacted automatically and the new shares will be traded on Aim on the 16th of July.

Your broker will inform you that as your holding is under £1000 it is classed as unmarketable and they intend to sell it free of brokerage fees. At this point you will be able to decline the offer to sell and exercise your right to retain the shares .
All if this only becomes relevant if the motion is voted through at the General meeting.
The reasoning behind the motion is set out in the notes.

The conversion for Aim will be 500 to 1. So if the closing share price pre consolidation is £00.0002 that will convert to £00.10 ( ten pence ) in the new shares. The same conversation will be applied to JSE.

Myfirstmillion further dilution would be very damaging to my investment and everybody else's and that was the motivation behind my communications with Laurence Read today.

If there is to be an equity raise through the issue of new shares in the future then it will be from a much higher platform than the current SP. I have lost 25% in June and I am sure many others have lost much more .

Myfirstmillion, the motion to limit future share issues is to give some measure of control back to share holders as it currently unlimited. In my conversation with Laurence he gave me the impression that there was no imminent need to raise cash and that a deal with our Silver was the preferred route, but these points can be asked again at the general meeting by all that attend .

Private Ryan. The market for EUZ is very easily moved with very small trades. I also read in todays notice and notes that a new rule will be proposed to categorise small holdings as Unmarketable. The threshold is £1000 and holdings of less than £1000 will be liquidated, however this has yet to be passed obviously.

Not perfect. Should read project.

I was delighted to have a phone conversation today with Laurence Read on the back of an email I sent to him. We spoke for 30 minutes in what was a frank an honest discussion about what lay ahead for EUZ and why current decisions were being taken. I will say from the top that nothing was discussed that could be considered inappropriate and I got the distinct impression that I was in conversation with an industry professional with a deep wealth of knowledge about his industry.

So let’s go from the top. AIM have urged EUZ to enter into the consolidation process to quell the volatility that surrounds the SP with its fraction of a penny valuation. I completely understand the need to do this as not being on AIM and relying solely on JSE as an exchange would be bad for .everyone. To use A phrase from Laurence is is Time for the company to grow up and consolidation does not alter my percentage holding at all, it remains the same.

The current work being undertaken is being guided by industry players who appear keen to see the asset presented in a form that proves mining the ore and smelting it will be profitable and the profit margins able to withstand changes in the marketplace. EUZ will announce the results of the latest test work in due course, but to date the results have been very good.

Non dilutive options remain in play with the Silver credit and this is an ongoing discussion along Side other discussions with industry players.

The company wishes to pass a motion at the upcoming General meeting to limit the amount of share it can issue in the next twelve months to 50% for cash raising purposes. It is worth pointing out that currently the board are not limited in anyway to the number of additional shares they can create so introducing a cap is moving inline with AIM rules I believe.

Whilst permission is being sought to limit the number of shares that can be issued, there are no immediate plans to dilute the current share holding and options with the Silver credit remain in the forefront for additional capitalisation.

I know we discussed more and Laurence would not comment on some of my questions, but I feel confident in the prefect and the man.

Have a good weekend all.

Most of the buys went through on The NEX exchange, one of the for 100million shares at 20k.

This might be my fault. I reported Reasonables posts to Admin as Disruptive and Argumentative and asked for him to be removed.
I am sorry if Admin also took down the good stuff as that was not my intention.

This from today's briefing.

https://www.bbc.co.uk/news/live/world-52887005?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=5ed67b429789ad0655eceffd%26Han****%3A%20Antibody%20tests%20are%20coming%262020-06-02T16%3A21%3A31.840Z&ns_fee=0&pinned_post_locator=urn:asset:0754f26a-6eeb-490a-bc43-907b61aa0c0d&pinned_post_asset_id=5ed67b429789ad0655eceffd&pinned_post_type=share