Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Good morning Shed. I see that the usual suspects are back on the board trying their very best to discredit and deramp EUZ. Anyone reading their posts should probably ask themselves, what is their motive for ding so ? They do seem hellbent on shouting about what an awful investment ut is.
LOL
Highside, the 20% does cause me an issue. The new drills, Jorc, expanded area ( hopefully) will need to increase the value of Toral by 250% just for us to stand still.
(20% x 2.5). Only time will tell if we are sitting on a fortune or have sold out for $6 million.
My hope is that a mining licence and an increased Jorc will dramatically increase our value at a point where we still own 49%.
One other point. Dors the board have to seek further approval from shae holders before concluding the addional 29% sale?
I think hold and wait is the best strategy right now. As far as value is concerned, it all depends on the figures that will eventually come from the updated Jorc.
I hope for a large increase in minerals, a mining licence and Copper at depth.
Sheds is right Bricks. The facts are in the RNS and opinion has no bearing on the matter. Europa Metals own 100% and Denarius do not acquire 51% until they meet there contractual obligations.
Hi Shed. I do accept your view, but I did say that the money paid by Denarius would be spent on developing Toral.
It's my opinion that the deal is weak. The BOD could have done and should have done better and my expectations of what this investment might deliver for investors like us is now greatly diminished.
I have read the RNS’s and then re-read the same RNS’s and I can only come to one conclusion. Whilst this is currently the only deal on the table, it is not a good deal.
There is nothing wrong with option One. A Joint Venture arrangement where Denarius acquires 51% of Toral for $4 million dollars and those funds are used to take Toral through to approval of a Mining Licence. However, what was originally presented to shareholders as a Pre-Feasibility Study as part of Option One has been downgraded to a Preliminary Economic Assessment, with a PFS to potentially follow at an undefined point.
For me personally, the issue is with Option Two. This option allows Denarius to acquire an additional 29% of Toral for a mere $2 million dollars at the point at which it is granted a mining licence, leaving EUZ shareholder with a poultry 20% of what they originally invested in. The sweetener was to be that Denarius would increase the footprint of the mining estate and bring in additional mines, including Antonina, to expand and grow the value of the asset. There is no longer any mention of this as an intention, so why sell?
My opinion is that a more truthful strapline would read “ Europa Metals agree to give away 80% of Toral to Denarius for $8 million dollars”.
https://www.denariusmetals.com/News/news/news-details/2022/Denarius-Metals-Announces-Third-Quarter-and-First-Nine-Months-2022-Results/default.aspx
This makes very interesting reading.
This deal just makes me angry. What the hell have Europa Metals paid for. The markets apparently dont like it either, as we can see from the current share price and now we are referred to as a subsidiary of Denarius. A company without a pot to **** in.