Member Info for del929

Asked YJ wtf is going on ref a date for the AGM and this is the reply I received this morning, it sounds to me like the BOD are deliberately delaying announcing the AGM. They are taking the p155 once again, my guess is they’re concerned about getting any reappointments voted through!

“Whilst I cannot disclose the date, from what we have been told, it is close to being finalised and with that a statement will be made to the market”

@Lenoman; you stated on here you get info from friends who are on TG & Twitter and have then reposted that info on here! You also stated you had a friend who was a big holder who gave you the nod for a sale. You’re making a fool of yourself by claiming you could have ended up in court because of what someone said on here! I’m fully aware of the webinar as YJ told me this morning and of course I’ll be submitting questions as I’d think will most genuine holders who have the ability to read the AR and find things they’d like clarification on. I guess you’ll not have any which I find strange from someone invested. Apologies for thinking you’re nearing retirement age, maybe you can confirm how old you are to prove me wrong!

@IKN, no need to thank me, I was addressing Lenoman! Our issue was well documented at the time and I’ve not really had a problem with you since! I’ve no idea who Glenn Gordon or Darren Hill are so not sure if that’s meant as a compliment or insult.

@Lenonan; ps, I hope you noticed that I didn’t accuse you of anything as I clearly remember you like to threaten posters with your solicitor for defamation of character (on an anonymous BB) lol

@lenoman; that’s twice you’ve mentioned me in the last day or so. the only posters on here who i’ve had an issue with was dr, ikn & yourself for well known reasons which i can’t be bothered to go into! if you really want i’m more than happy to get into a discussion with you once again & point out to everyone the bull**** you’ve posted in the past. to be honest i can’t see the point in it as this bb is already full of petty crap & i prefer to try focus on eua matters. maybe you can ask your friend with the “big holding” or one of your bum chums on twitter or tg (which you’re not a member of) for some eua topics to discuss! for someone who i assume is approaching retirement age you aren’t half acting like a child!

Had a response from YJ;

“We acknowledge your questions. Just for your reference, we hope to schedule an opportunity to direct all questions to the Board in a scheduled webinar (TBD). So until then, please can you hold your questions. A statement will come our in due course when that event will be.”

@MrY; the statement on the Russian Sub securing a $1.3M loan facility is on page 18 section “Additional sources of funding”

I’ve just messaged them the following;

Good morning, is it possible to ask CS when they intend to announce the date for the AGM which was originally due in July?

In addition there’s quite a few points he needs to clarify;

1. The figures given for the concentrate do not make any sense. In June 2023 we had £3.5m, Dec 2023 we sold £2m, now have £5m?

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 announce they are drawing £250,000 immediately followed by £750,000 around 24 Sept. What’s changed in those 9 days?

5. ⁠Urals Alluvial Platinum Limited, EUA’s Subsidiary in Cyprus. Can they confirm what it’s current cash balance is?

6. ⁠Which Russian Subsidiary has secured the $1.3m loan and what are the terms ie who’s repaying it and what’s it secured on?

7. ⁠Why did they not sell the £5m concentrate to negate the need of the loan facility?

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

9. ⁠Tamerlan Abdikeev is on a salary of £125,417 what does he actually do to justify being the highest paid member of the BOD?

@RnR; thanks, I’ll contact YJ tomorrow and see if they can find out when to expect the AGM date.

I thought we’d get a date for the AGM today now we’ve had the AR and audit. Does anyone know how long the BOD have to announce it?

@Bdf; yep they probably didn’t have to tell us legally but they could have easily updated us. Either way June 2023 we had £3.5m worth of concentrate. Dec 2023 we sold 2m worth. Now we have circa £5 worth! That doesn’t add up, It’s things like that which I find confusing and so did the auditors I’m guessing.

@bdf; that corporate update was released early and we all wondered why at the time. I think on 21 Dec questions & answers were received via YJ and they stated “discussions regarding the proposed sale of the concentrate are ongoing” so they were fully aware shareholders were looking for updates on it. How many RNS in 2024 yet they didn’t mention some had been sold?

@Bdfinvestor; as a Shareholder I’m interested in knowing the facts. I agree the concentrate has now been fully audited, wasn’t that one of the reasons given for the 10 week delay? Now the BOD decide to announce they actually sold circa £2M worth at the end of 2023 yet not once in the last 8 months did they find it necessary to tell shareholders. Coincidence?

@MrYfrons; I’m positive the BOD said when asked ref the $28m that went to KK subsidiary that the figure was a total paid in to date but you may be correct.

@Mr Wolfe; the concentrate is very confusing, I think we originally had circa £5.5m then it went down to circa £3m, now it’s £5m and they’ve told us they got also got paid £2m end of 2023. Will try look back into it all in more detail during the week. But something isn’t right, could well be my memory.

@Spikeyj;

In the AR the BOD state the sub in Russia has secured a long-term loan facility of US$1.3M to be used for working capital purposes so I’d assume that means they are low on cash!

The urals alluvial platinum limited sub is in Cyprus and I think the >£1m they have is a balance and not an annual payment.

No idea why they can’t transfer those funds to EUA as The BOD stated in the AR that the remittance of funds from Russia to the UK is permissible under current banking & sanctions legislation.

I’ve also noted James Nieuwenhuys only had £10,000 in 2023 which seems very low even though he left in June/July yet Tamerlan Abdikeev got £125,417 which was the highest on the BOD!

I’m trying to see if they previously ever mentioned in an RNS that they sold £2m concentrate at the end of 2023. I can’t ever remember reading that.

we all hoped for a 7am rns however i don’t think many are surprised that it hasn’t appeared. in cs’s defence it can’t be easy to announce to the market & shareholders that you’re a useless **** and give the proof in writing! yes, they have all day to release it but remember this was actually due at the end of june so a little bit of thought for long suffering shareholders wouldn’t have gone amiss. at the agm (if we ever get one) i will be voting against renewal for any member of the bod who is up for re-election!

Shouldn’t we be asking why after 11 months they’ve not sold the concentrate to ensure we didn’t get into this bloody position? Advanced talks, when did they start the talks and what are the proposed terms for a company which has zero income and a BOD who can’t seem to sell anything? I can’t see them been very favourable.

@BoB; I’m positive there was an issue with this “loan facility from DS” and was cancelled in an RNS a few years ago! Can’t remember the details but there was defo something picked up about it.

“The company has/had a bridging loan agreement with DS”

DS is on the M&A team so surely CS has a duty to check on those sort of things on a regular basis.

@Kammy; excellent post

@Wraggy8; it’ll depend on what they tell us in the AR, everything is so vague and I’m not sure CS & the BOD have the ability to clinch a deal, unless it’s a Tescos meal deal! It seems to be one issue followed by another, yet they seem invincible. Granted the issue in Ukraine has created problems but I honestly believe it all could be managed much better.