Member Info for Crabby08

Even if the ACF report was sponsored by EUA it was done so as a guideline to offered of where to start and that was before final flanks approval. There’s no way it’s going for any less than the sp stated in the report, the BoD would simply decline and move forward on their own. Interested parties have known that since the report was issued 3rd Feb this year, were no in September and if buyers though the ACF report wasn’t reasonable the FSP wouldn’t have started and UBS Pyle turns have got on board to negotiate on EUA’s behalf on a success fee basis!

https://acfequityresearch.com/wp-content/uploads/2020/02/Eurasia-Mining-Plc-MA-Valuation-FINAL-ACF-03022020.pdf

Agreed RMR - I would have thought interested parties would have known the price of assets before the FSP began and if it was unrealistic they would have walked away. But the FSP was initiated and UBS were appointed so I feel they have found common ground as you say. I believe the BoD are in a firm position to hold their ground price wise as they know what they have and have the line of credit to mine themselves which they can always throw at offerers if they try playing hard ball

Come on let’s have a bit of excitement after wet couple of weeks. A bit of asset value reflected in the SP and all that.

The BoD must have outlined the price to buyers of assets and the whole company by this stage. If it was too much the FSP would have been shut down...

Starting to get on my nerves a bit those form 8.5’s! Give us some proper news!

Agreed, absolutely mind blowing! If Elon can send people in to space and develop Neurolink I’m sure he’s smart enough to figure the mining industry!

Carlito - the fact UBS are on board for a success fee basis is what puts my mind at ease.

Hoping for some substantial news this month that gives an inkling of the scenario that’s playing out. Eurasia have done a good job of keeping it under wraps

Plus I read NNhave $2.7 billion spare cash at the minute..

This was my question too...

Confident we’ll see a decent finish I’m going to go with 25p. You’d be kicking yourself if you sold in the dip at 21.5p!

Judge-mental - we had an expected resource update on Tuesday with the final approval of another 15moz at MT and it went through like a wet f4rt in the scheme of things.

Either way we’re massively undervalued still I feel

Gringheyi - after the poor so reaction to the flanks RNS on Tuesday I think the only RNS that could cause a major spike would be an offer RNS

Panderman - potential buyers aren’t allowed to buy on the open market once they have signed NDA’s and are privvy to inside information

Agreed GingerHippo, but we have time served pro’s on the Eurasia BoD and UBS on our side, I can’t imagine they’re going to withstand any messing around. Competitors need to buy EUA’s assets more than EUA need to sell

Time is money and neither will want to spend more time than necessary negotiating so I’m sure there’s a time structure in place and buyers will have to prove how they will finance the deal

CITIC negotiate / facilitate on behalf of buyers, UBS negotiate / facilitate on behalf of EUA on a sale

If EUA’s asking price was pie in the Sky unrealistic then the FSP wouldn’t have been initiated after 8/9 months of DD and UBS would have refused to take EUA on as a client on a success fee basis

EUA didn’t initially put themselves up for sale **

Kippermanbike - slightly disagree as EUA initially put themselves up for sale, they were approached by CITIC & VTB and asked would they be willing to sell asset(s) to which EUA responded yes if the offer was one too good to refuse. EUA haven’t had to really market themselves as the banks have done it for them, plus they don’t need to sell as they have finances in place to mine themselves if need be.

So it’s not what the buyer feels is the right price, the BoD are firmly in the driving seat here with all the right people working on a success fee basis. It’s more what the BoD and UBS feels is the right price for the last non consolidated palladium play and I’m sure there are enough buyers interested at that price, hence UBS appointment and FSP being initiated a couple of months ago.

Aresnalles - it won’t be an average of the share price as if that were the case say between now and last September at a guess the average sp would probably be around 10p considering we were suspended for 5 months at 7.2p - so it the offer has to be based on assets otherwise it wouldn’t be entertained. The worst case scenario bid should be based on the ACF report but wouldn’t be surprised if it went a lot higher now MT flanks have all formal approvals.

As Dimitry said in the Proactive interview last October, they have told the banks no to put small offers forward as they will not be entertained

Ferg - I firmly believe no sale was an option between October when CITIC & VTB approached EUA In October to propose a sale but when UBS were appointed to negotiate on Eurasia’s behalf In July that’s when the chances of no sale were reduced to almost nothing. Interested parties had no doubt been carrying out DD for 8/9 months already when UBS were appointed, Eurasia wouldn’t have appointed them and UBS wouldn’t have accepted on a success fee basis if there was only a chance a sale would take place