Member Info for Cjen

Chrisp , both you and Highside are right. We are exactly where we were 18 months ago , but with more shares in issue.
A great asset, but an inability to create any value from it.
1 billion US dollars of metal in the ground, with a small capex requirement ( it's only $75 million ).
An astute business person should be able to push this forward. Let's hope we see some progress from the team at Bennelong .

Too many nights. .02p

Highside, before the 500 : 1 consolidation the share price was. 0002 of a penny. After consolidation the share price was 10p and it then dropped to 5p, which oddly enough is where we are now. The same price as we were 18 months ago.

It was great to meet you in person Numpti and have a stroll around some of the London sights after the AGM. I share you views and concerns about EUZ but will also be holding onto my shares to see what develops now that we have Bennelong onboard.

cjen

Richard from Bennelong defineatly stated that they were investing £275000. This was in two tranches of £200 thousand and £75 thousand.
Please double check this with Numpti PI as he was sat beside me .

High side
Thank you for pointing out the error on the CDTI grant. It is of course 140 thousand and not million.

Whats you quiriey on Bennelong ?

cjen

Amendment
The recent CDTI grant is 140000 euros. Sorry not million.

9. A new Australian Investment company called Bennelong has been engaged and they are to receive 1.5 million shares. What added value are they going to bring to the company and how will this benefit shareholders?

Bennelong were represented at the meeting. They are very upbeat about Europa Metals and are themselves investing £275000.00 by way of share options. ( 1500000 shares ).
Bennelong will be looking to stabilise the share price and bring it more into line with the Turner Pope broker note and NPV. They are bringing onboard investors who are experienced in mining stock and have a good track record of working with junior miners to develop shareholder value.

10. What has Adam Habib achieved for Europa metals over the past 12 months?
Please see note 6

The BOD has stated that they would be open to adding to the Europa Metals portfolio of assets by acquiring a second mining project. No project has yet been identified as suitable and regardless of this the core focus remains firmly on Toral.

Answers to questions.

1. Since the end of year accounts show that there was more than $1 million AUS in the bank at the end of June 2021, why was the placing required so urgently, as we were clearly funded to the end of the year and to the completion of the PFS.

There were insufficient funds at the bank and the PFS is still some way off.

2. The completion of the PFS will further de risk the project and raise the share price accordingly, so why did the board decide to raise finance in October at a discount of 42% of the then share price without waiting for the completion of the PFS?

A completed PFS is still some way off. Europa Metals is not funded to complete a full PFS but is working towards completed key elements whilst working to satisfy the questions raised by interested parties.

3. Why have we appointed a second broker, W H Ireland, having only recently dismissed one. What was the need to appoint this second broker when we already have the services of Turner Pope?

This question was not asked

4. What if any deleterious elements have been found within the ore? and what are their impact on future smelting arrangements?

The Metallurgical work is ongoing, but to date no issues have been found

5. Why has the board failed to secure non-dilutive funding options, when by all accounts Europe is awash with incentive programs and financial grants?

Please see note 6

6. Did a deal to secure funding, JV, Farm Out or similar fall though in the summer and was this the Shareholder Value Event that was RNS’d earlier in the year?

A deal was being negotiated in Summer 2021 for a JV or partnership of some sort. It unfortunately fell through and no longer exists. This was the shareholder Value Event that was expected. Discussions are ongoing with other interested parties, but of course are covered by NDA.

7. What is the current bank balance for Europa Metals and exactly what purpose is this money to be used?

We have at least £1.5 million raised from the placing, plus the money from the CDTI which is circa 140 million euros .

8. Mr Laurence Read said as part of his recent Proactive online interview, that we would hear from the new investors (the ones in addition to Deutsche Balaton) . When will this happen?

See note 9

Notes from the Europa metals AGM held at 10.00 am on Tuesday the 30th of November.

As previously stated, all Six resolutions were passed at the AGM with 70+% in favour in each case. Please bear in mind that any shareholder that did not vote had his or her vote cast for them in favour of the resolution. Only 20% of the company voted, which means 80% did not and by default then voted in favour.

Toral, owned by Europa Metals is a Geological mining project with the potential to become a mine at some point in the future, however the geological work done to date is formidable, with $1 billion worth of metals resource currently on the ground at today’s metal prices. To progress Toral to a producing mine of Zinc, Lead and Silver, Europa Metals will require a Mining Licence and $75 million of capital investment.

The Board of Directors said that they were in talks with interested parties about the progress at Toral and much of the ongoing groundwork and analysis is being carried out to specifically answer questions raised by these parties as they consider the proposal that Toral represents to them. All, work carried out moves Toral forward to ultimately completing a Pre-feasibility study for a future mine.

Europa Metals is funded, post placing, for the next twelve months, however, Europa metals does not have sufficient funds to complete a full Pre – feasibility study or indeed a Definitive Feasibility study. The objective is to complete enough of the key components to satisfy a JV partnership or some other transaction that will move Toral to the next level. The BOD is aware that the market has completely ignored the NPV of Europa Metals and the SP shows a complete disconnect with the asset. The current NPV is $156 million, the current market cap is circa $5 million.

Next Steps

More drilling will be taking place in the upper zones that represent the first few years of the life of the mine and this will be combined with ore sorting analysis. It is hoped that this will increase the percentage grades recovered in the early years of the life of the mine. The short-term objective is to;
• Further increase the Indicated Tonnage, which is currently 6 million tonnes
• Shorten the Cap ex investment payback point from year four.
• Increase the NPV

Hydro Analysis work is ongoing, but to date no issues have been found

Metallurgical work is ongoing, but to date no issues have been found

The Resource at Toral is open at depth and also open at the East, so the potential exits to further increase the resource from its current 20 million tonnes of which 6 million tonnes is currently an indicated resource.

Initial reactions from commercial lenders have been good, when discussions about the required Capex have taken place and it is not considered to be an obstacle to development once DFS and permissions have been granted, but of course this is some way off yet.

Hi Bricks. Can you please hang fire for 48 hours whilst I put my update together.

Thank you
Kind regards
Cjwn

Lots to talk about, but I'm going to need a little while to process it all on the way home.
All 6 resolution were passed by a margin of 70+% in each case, but only 20% of the company's stock was used to vote.
80% of the company did not cast a vote.

I have had a chat with my broker and they have told me that my votes must be cast in advance of the AGM as they are in the name of a third party and their voting deadline is before the date of the AGM. I will still be attending and I will still be asking questions of the BOD.

I think it means that I can attend the AGM but all votes must be cast via the brokers in advance of the meeting.
I will not be able to act as proxy for any shareholders so please ensure that all voting intentions are given directly to your respected brokers in advance of the meeting.
I am assuming that I wont be blocked from asking questions at the AGM, but we will see.
Whatever happens on the day I will report back .

This just in from my broker via the Registrar.Depositary Interest holders or beneficiaries of registered Depositary Interest holders are not permitted to attend and vote at the meeting, but can attend as guest.  If Lord Jenner still wishes to attend as a guest, please provide an amended request and upon receipt the relevant Letter of Representation will be issued.

Can someone please enlighten me as to what's going on with this AGM. I have just recieved this from my broker via the Registrars.

Good afternoon

Further to the below please be advised we have today received the below from the Registrars concerning your request-

Depositary Interest holders or beneficiaries of registered Depositary Interest holders are not permitted to attend and vote at the meeting, but can attend as guest.  If your client still wishes to attend as a guest, please provide an amended request and upon receipt the relevant Letter of Representation will be issued.

With reference to your clients voting intentions, please submit these prior to the voting deadline.

Please confirm by close of business 18th November how you would like us to proceed so we may instruct the Registrars accordingly.

Many thanks

Kind regards

Alex Hutchings – Corporate Actions & Dividends Manager, Operations Department

Address: 78 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS
Phone:+44(0)1892 510515

Jarvis Investment Management Ltd is authorised and regulated by the Financial Conduct Authority, a member of the London Stock Exchange and an HMRC authorised ISA manager. Registered office: 78 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

Registered in England no. 1844601. VAT registration no. 680 0400 74.

This email contains information that is confidential and may also be privileged. It is for the exclusive use of the addressee. If you are not the addressee, please note that any distribution, dissemination, copying or use of this communication or the information in it is prohibited. This message is attributed to the sender and may not necessarily reflect the view of any group company. If you have received this email in error, please telephone us immediately.

Hi Shed could you explain that question to me again please. Send me an email or LinkedIn post if you like. I am happy to ask it but need to understand it first.
Poison tipped umbrella might be a step to fat but I was going to slip a truth drug into his tea. I think they call it Pentathol.

Hi all. I did sent the question to Dan Smith on the 7th but with the removal of question 3cas it clearly could not apply this year. I have had no presence from the company as yet.

Questions to be asked at the EUZ AGM

The recent placing came as a surprise to many.

1.       Since the end of year accounts show that there was more than $1 million AUS in the bank at the end of June 2021, why was the placing required so urgently, as we were clearly funded to the end of the year and to the completion of the PFS.

2.       The completion of the PFS will further de risk the project and raise the share price accordingly, so why did the board decide to raise finance in October at a discount of 42% of the then share price without waiting for the completion of the PFS?

3.       Recent changes to the SEC (Securities and Exchange Commission) accounting rules from 2019 and enacted in 2021, now allow Indicated Mining Resources to be included in a Mining company’s balance sheet. Why were our Indicated resources which are circa $475 million dollars (US) approx. not included in our balance sheet as part of the company’s year-end accounts?

I wish to withdraw question 3 as the new guidance will not take effect until our next financial year, that being the financial year that follows January 2021.

4.       Why have we appointed a second broker, W H Ireland, having only recently dismissed one. What was the need to appoint this second broker when we already have the services of Turner Pope?

5.       What if any deleterious elements have been found within the ore? and what are their impact on future smelting arrangements?

6.       Why has the board failed to secure non-dilutive funding options, when by all accounts Europe is awash with incentive programs and financial grants?

7.       Did a deal to secure funding, JV, Farm Out or similar fall though in the summer and was this the Shareholder Value Event that was RNS’d earlier in the year?

8.       What is the current bank balance for Europa Metals and exactly what purpose is this money to be used?

9.       Mr Laurence Read said as part of his recent Proactive online interview, that we would hear from the new investors (the ones in addition to Deutsche Balaton) . When will this happen?

10.   A new Australian Investment company called Bennelong has been engaged and they are to receive 1.5 million shares. What added value are they going to bring to the company and how will this benefit shareholders?

11.   What has Adam Habib achieved for Europa metals over the past 12 months?

 

I am fairly certain that our accounts are in AUD.

High side, at the last two AGM meetings , share holders have voted in favour of the Disapplication of Pre exemption rights and therefore we have excluded ourselves from participating in share placings