Member Info for del929

@Saint; I’ve replied and pointed out that things are going to continually evolve over the coming days, weeks and possibly months.

CS is aware that he can update us on a regular basis as things do actually evolve and not just continue to leave us in the dark on the BODs progress on company related matters.

3 weeks ago YJ advised me;

“we can confirm the company is putting together a release based on the latest operations”.

I spoke to them again yesterday for an update and they’re said;

“we know it has taken longer than expected, The Company is constantly reviewing the political situation and thus once it makes it an announcement, it will want the information to be as accurate as possible”

Https://www.youtube.com/watch?v=-ieIGBijJvU

It’s well worth having a listen to the Webinar again and digesting every word.

Some comments are very comforting, others seems to contradict the BODs actions.

@Spikeyj; can you name any Western investment banks, hedge funds, pension & sovereign funds that currently hold assets in Russia. Point taken ref China, Brics etc. I was under the impression the pending listing in Kazakstan was to circumvent issues with purchasing stock on AIM but tbh I’ve not really kept up to date on EUA lately.

@Spikeyj; didn’t all the investment banks etc have to sell up any investments in Russia when the war started, I assume they’d all have a policy not to buy back in Russia atm.

I think this was discussed here on the 24th.

“In my judgment it is appropriate to provide the minimum necessary aid to a foreign representative to achieve the purposes of getting in and distributing the assets of the insolvent. At this stage the minimum aid to be given to Mr Vesnin is that he be joined to the Eurasia Proceedings for the purpose of making a claim to the replacement share certificates and fully participating in those proceedings through to final determination, including any appeal. Upon joinder I shall give directions in the Eurasia Proceedings which are also before me today.”

Shiv@yellowjerseypr.com

@SJ; I can’t honestly remember, it was either on an email he’d sent or he called me back on it when they’d missed a call. Sorry but I don’t want to put it on a public forum for obvious reasons. Give him a call on the office number and ask, I'm sure he’ll be happy to give you it as he seems a decent person.

@Sjmorrison; it was me that contacted Shiv at YJ via WhatsApp. Might be worth calling the office and speaking to him that way +44 (0)20 3004 9512.

@RandRtrader; many thanks. It’d be worth a few people on here watching it again before making claims ref the asset sale!

https://www.youtube.com/watch?v=-ieIGBijJvU

Does anyone have a copy of the transcript from the last Webinar?

I contacted YJ on WhatsApp and they replied “we can confirm the company is putting together a release based on the latest operations, we can’t confirm on the timing though”

If anyone wants more info or details I suggest you contact YJ direct.

@JamesB1; from memory I’m sure CS said at the last Webinar that he thought it was a good idea to hold another but probably not before Xmas. I may be wrong as I didn’t keep any notes on it as I’ve got wise to the fact that what he tells us and what usually happens are invariably very different.

@Tiffintip; I’d think they’d be duty bound to RNS if there’s a change in ownership of the shares as it’s nearly 12% ownership of the company. Having said that CS seems to have issues with keeping us updated on facts in a timely manner!

Does anyone have more details on the outcome of this? It’d be great if the case has been settled.

12 Nov 2024 Order by Judge

Order of Deputy Judge James Morgan KC.

https://caseboard.io/cases/93c560ea-abc6-4674-8185-d03ae22a0ef4

@Buttybach; hope this might help, it’s taken from EUAs court defence document.

By notices dated 12 and 14 October 2022 sent to Link and the Company, Evgeny Vasilievich Vesnin stated that Dmitry Ananiev had been declared bankrupt by the Moscow Arbitration Court and that the Court had appointed him, ie Mr Vesnin, as the financial manager of Mr Ananiev. Mr Vesnin stated that the Court had restored the regime of joint property of Mr Ananiev and his wife, ie Liudmila Ananieva. Mr Vesnin stated that Mrs Ananieva appeared to be the person who controlled QVL. Mr Vesnin asked for information about QVL’s shareholding in the Company in light of his claim that the ownership of property (including apparently the ownership of QVL) had been restored jointly to Mr Ananiev and Mrs Ananieva. Mr Vesnin’s notices therefore raised further questions about the ownership of QVL and about the control of QVL’s shareholding in the Company.

2. ⁠Why did it take over 8 months for the BOD to advise shareholders they’d sold £2m worth of concentrate?

3. The AR states James Nieuwenhuys salary for 2023 was £10,000, is that an error considering he didn’t resign until the end of June/early July?

4. ⁠28th Aug the BOD stated they were in discussions ref securing a loan facility to cover the financial gap (if any) then on 6th Sept they announced they were drawing £250,000 immediately. What changed in those 9 days?

5. ⁠ The £1,132,246 investment in Urals Alluvial Platinum Limited stated in the AR is that a cash balance or an annual payment & can the BOD confirm what its current cash balance is?

8. ⁠Why have they not recommenced mining at WK to give the company a source of income?

11. How much are we paying YJ to basically ask you questions?

12. How much of the £2.03M raised from the sale of concentrate at the end of Dec were transferred into the EUA £ or $ bank accounts?

13. How many shares do Sanderson Capital Partners Limit hold?

14. Do you intend to issue any options to the BOD on completion of the asset sale?

15. Loans provided to subsidiaries increased by £722,720 in 2023 what were these funds used for?

16. What % of shares are required for a Russian management buy out to be implemented.

18. we have tabled a resolution to provide the authority to issue new shares on a non-pre- emptive basis limited by approximately 10% (can you provide an exact % figure) of the Company's current issued share capital. The Board believes this will provide the Company with added flexibility to meet its working capital obligations”. (What are the expected working capital obligation figures)?

19. “We are expanding the marketability of the Company and in that regard, we are planning a secondary listing in Kazakhstan on the Astana International Exchange” so would publishing things like the NYUD JORC, MT DFS, NKT open pit update & a revised Reserves & Resources figures.

20. In 16 Oct RNS you stated; “We understand the past few years have been a frustrating time, due largely to circumstances outside of the Company's control” You totally miss the point that the main source of shareholder frustration is your abysmal communication skills and inability to communicate anything clearly.

21. If there is a MBO what would happen for repayment of the £28,880,560 that the Subs owe us?

22. Are any of the current BOD or M&A team part of or financially connected to anyone in the possible MBO. Would that be a conflict of interest?

23. If the BOD haven’t managed to sell anything in the last 5 years or so is it time to look at bringing in people who can sell the assets?

24. How much are the secure storage costs per week/month for the WK concentrate?

25. On 23 Sept 2024 you announced the Extension of 41,551,563 warrants to 31 Dec, in what scenario does this benefit shareholders?

26. What was the reason for the delay with the Audit and announcing the AGM once the AR was released?

27.

Did CS state he wants to use the TFL as he doesn’t want to sell the concentrate due to haircuts etc (or words to that effect) Has anyone thought if he’s got the same thought process for selling the fecking assets atm?

My issue is with the questions he didn’t answer and why, especially considering it ended around 30 mins early & why did no other member of the BOD speak? I’m going to watch it again an few times over the weekend, however I can’t remember anything which helped me in making a decision on resolutions 4,5, 6 or 7 apart from Tamerlan assisting with Japanese banking!

@EIE10; apologies you’re correct. That’d reduce the shares to a total of 97,138,519 if my calculations are correct for us borrowing £1M.