Fundamentals28 Jan 2021 06:32
Until we're told otherwise:
- The metal is still in the ground and worth its value.
- Eurasia still has £7million in the bank and no debt.
- Still multiple non-binding offers as stated in the RNS 2 weeks ago.
- BoD still the biggest share holders.
- UBS still negotiating on behalf of EUA, industry leading M&A bank.
- DLA Piper still working the legals.
I think there's more to this that just an advisor selling some shares, it hasn't held around 30p for months to fall to s**t now. Can't say i'm happy but I feel nothing has changed in relation to the sale.
Not surprising how all the worms have popped their heads up saying I told you so. They've told us nothing yet until we get an RNS stating no sale and even then Eurasia mine themselves. There's no way after 16 months of this sales process it has fallen apart in less than 2 weeks. The MM’s got their opportunity to wipe out PI’s yesterday which many believed we would see before the final whistle.
I expect a bounce back to mid-20’s today on no news. Equally I believe sales news must now only be round the corner as if this was a housekeeping exercise by Alexei / Eurasia then its been timed after confirmation of multiple bids and the DFS state approval. If it was insider trading (which I doubt) then why didn’t he sell in December in the 40’s, he’d have got nearer £11 million instead of £8million.
We’ve had it all here since the banks approached to see if Eurasia would sell and every time it’s come good and we’ve gone to higher highs, I think this is no different. Nothing has changed.
Good luck all, I feel calm this morning and my view remains that Eurasia will be sold lock, stock and barrel for a lot higher than the ACF Report minimum of 54p!
UBS, CITIC and the board member brought in to help manage this sale are still on board and none get their commission if this sale doesn’t happen. The boat got rocked yesterday in bad weather, but it hasn’t sunk!
Sign In
Follow the stocks
