Member Info for del929

Thanks SB & Tonwin. Hopefully they will release it today as Monday is a BH in the UK, or can they delay it until June?

Is this due for release today?

No matter what anyone on here says or thinks the reality of the situation is none of us have a clue what’s going to happen until the BOD announce it in an RNS. Some people say we are worth £s, others 2p, not even the MM’s are sure on our true value. We had a high of 42/44p and are now staying in the 25/27p range. In my view the BOD could have released more specific information but haven’t, they must have good reason for this. This has led to continuous speculation from the rampers & derampers and now it is just constant abuse on here as we all wait on news. It’s frustrating but only time will tell who’s right. I’m holding my shares as I believe the prospects of EUA are very good. Just a shame we have so many unanswered questions which creates an opportunity for the doubters.

Loads of arguments on here today so maybe worth discussing something else while we wait for news. I think EUA target 68000 Oz a year at WK. I have a feeling we will continue to mine this to give us steady income. If my calculations are correct at current prices we’d get around $750 per Oz (after costs) which is around $51 million a year (profit) nice income every year to help develop the Rosgeo JV and maybe a small dividend to shareholders.

I’d love a 70p to £1 divi but I can’t get my head around why the BOD would additionally give the private II 50+ million warrants. That’s one hell of a sweetener as they are guaranteed to exercise them as soon as the divi is announced if it was at those sort of figures. Am I missing something?

I assume EUA will get the money from the placement immediately and use this to purchase some of the Rosgeo JV mines (no idea on cost but hope it’s at least the 4 next to MT). What is the need for the money from the Warrants issued which EUA won’t get until exercised?

I’ve got a good feeling about the week ahead, the placing on Tuesday will hopefully be very closely followed by news that EUA are taking up the option with Rosgeo for at least the four open pit deposits, which are located directly adjacent to Monchetundra. No idea on cost but I’d like to think we now have the finances to complete this part of the JV. I think the plan is to sell MT including the 4 new mines. Carry on mining WK and then potentially purchase the other 5 mines Rosgeo have gave us the options on. The only thing I’m not sure about is the warrants they have just issued but imagine it will be a very good sign when they are exercised that news is imminent.

Cheers Mac, appreciate your responses, just to be clear at no point have I said I’m selling my shares and will wait for the final announcement by the BOD as I do believe we will get a decent return on the current SP. I really hope this is the final stage and that it’s concluded soon.

Mac; I’d just like the BOD to be a bit clearer as to what the facts are. Every RNS is vague and leaves us guessing what they actually mean. None of us genuinely know what’s happening after all this time which I’m getting frustrated with.

Mac4671; we’ve been saying similar things for months. News will be by this date as it’s obvious etc etc. To date in over a year we’ve all being totally wrong. The AGM is not a guaranteed time for them to announce anything, it’s just another guess by us shareholders. If WK is not part of the asset sale shouldn’t the DFS details be made available to the market within a specific timeframe as it’s bound to effect the SP?

This is what the company said in the last RNS;
“the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale”
If they are able to tell us that information in an RNS why can’t they be more specific as to exactly which of the assets they are focusing on selling? It would certainly make things a hell of a lot clearer to us. In addition if there are assets which they aren’t focusing on selling then surely they are able to give us any information on these ie sell MT only then free to give information on WK & the Rosgeo JV.

I’m a little confused. Is this the EUA bb or one about a crazy stork? FFS people, if you don’t like or agree with what they say either ignore or report them.

Arsenalles; good luck with your training today. I’m sure most PIs are in a similar position to yourself, waiting on what should/could be life changing news. Just hope you and all other LTHs can hang in here until the BOD/Lawyers get this concluded. I’m fortunate that I can afford not to sell at the minute but there will come a point where that won’t be the case. The FSP started 10.5 months ago, we were suspended for 5 months before that, hopefully this part will be concluded very soon. Loads of positive news recently but the deal is the news we all really want/need.

Casa; tax in Spain for this year 2021 would be payable around June 2022. You shouldn’t have to pay tax to your broker on payment but I’ve no idea on Belgium/Dutch/Spanish tax agreements.

Casaeurasia; you’d need to speak to an accountant but as far as I’m aware tax is payable in Spain.

Casaeurasia; divi tax in Spain is a max of 26% if over €200,000. 23% up to 200,000, 21% up to 50,000 and 19% up to 6,000. Which part of Spain are you in, I’m South Costa Blanca.

We had non binding bids (assuming at a suitable price to the BOD) in the FSP. The BOD must have had a proposal from the Japanese for more money but they want more of the company (not just WK & or MT) There no way the BOD & legal experts would have ended the FSP without DD etc being complete with the Japanese. The big question now is; what do they want & what are they willing to pay?

If we sell WK & MT would EUA still exist as we’d still have Semenovsky plus the potential 9 mines in the Rosgeo JVs? I really hope we get some clarification from the BOD soon as to which assets they intent to sell and what the long term plan is for the company. There are so many different scenarios it’s almost impossible to guess as the BOD could easily be looking at additional projects/JVs we are completely unaware of.

Am I correct in assuming that any NDAs would remain in place for a certain period of time for the companies who had access to the data room during the FSP as they’d have much more knowledge on the true value of the company than the market currently does, this would also restrict EUA from releasing any details on previous non binding offers? The Japanese must have came in prior to the new Director Appointment on 9 April so that’s a minimum of 5 weeks ago. I’d assume there will be NDAs in place for them as well so possibly updates will be restricted to just the actual proposed offer for us shareholders to vote on, news which could arrive anytime between now and 8 June. Exciting times ahead.

I can’t for the life of me think of why anyone would considering selling today (unless we see a massive rise in the SP). I’m holding onto every one of mine, not selling anything as I want anyone who’s gone short to suffer a very long, slow, painful time trying to close their position.