Member Info for del929

EpicOG; That’s a great idea hence why I posted it! Think it’ll be interesting to see.

Let’s see who agrees

Let’s see who agrees

BoB; I can see the markets confidence is at an all time high with lots of massive buys going through at this low SP. I’d guess that you are in the minority at present but I’ve certainly lost confidence in them. Do you genuinely believe they’re doing a good job at present?

TC; I agree with you on that point. Confidence in them has totally evaporated, I’d not be shocked if they receive the MT DFS and don’t tell us straight away. Then we will probably be waiting months for the NYUD licence oooops forgot about the NKT update which we’re still waiting on too!

This to me sums up everything that’s wrong with our BOD, we found out through a shareholder from the Telegram Group and the SP rose to over 5p on the news, the next day our BOD released an RNS stating;
“NYUD Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course”
The 21 Dec update could have included this but no they told us something different, did they not even know it’d been received or did they simply decide not to tell us?
Over 10 weeks since the licence was received by Rosgeo and we still don’t know what’s happening with it.

Mr Wolfe, if they can’t sell anything after all this time then I think the only question is why not? We all remember Artem and why he was brought in!
Truth; I’d vote no and as stated previously they’d have to give some proper clarification before I’d change my mind.

Mr Wolfe, the BOD would need Shareholders approval for a raise and I genuinely can’t see many voting in favour at present, they certainly won’t get my vote! I’d think most would want more clarity and the BOD are supposedly very restricted in what they can tell us by those fecking NDAs! I’m hoping we get the MT DFS approved, sell the lot, give us a dividend and then we can forget about EUA.

The MMs can do as they please with dropping the SP as they are confident that our BOD are incapable or unwilling to give an update at present. They’ve really put us LTH in a very uncomfortable position, have faith in the BOD and watch the SP slowly decline on a continual basis or sell and hope to buy back in later at a lower SP just before (if ever) news is announced. IMO I’m totally p1ssed off with the BODs silence but holding in the hope this comes good, it must have been a year ago they tweeted for us to remain calm.... I’m sure they realise how bad a reflection the silence is on their reputations! I will not be interested in EUA v2 as I simply don’t like the way the BOD have treated us, and that goes back to long before the War in Ukraine commenced! Communications are horrendous.

@B1ll, added the FSP in.
@Aubery, I don’t want to include the Sinosteel deal as I can’t see that been activated after all this time, money, effort & stress! To go back to that now has to be a last resort and indicate a massive failure of the BOD.

1. 12th May 2021; proposal from a credible party 657 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 488 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 438 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 385 days ago.
5. Rosgeo JV; options on remaining assets expires 26 March 2023.
6. BOD options are due to expire 2 May 2023.
7. MT DFS: submitted a minimum of 70 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.

@ LB; Excellent well thought out post (as always)
@ EIEI01; “Plant & equipment purchase £ (6.2)” I’d assume this was for WK. Didn’t we raise £10m specifically for WK and the circa £27m was raised specifically for the Rosgeo JV.

@LB, that’s a very good point ref KK.
The EUA website states this for WK but no idea if that’s updated with dragline!
“Simple, low cost (cash cost below $400/oz) operations”

Database; I can’t see anyone lending them anything in the current climate and uncertainty. I’m sure the BOD have it all in hand and all will become clear soon enough. My concern is that the buyer may be fully aware of our cash situation and know that any further delays in concluding a sale may create cash flow issues for the BOD. WK income alone won’t be enough.

Outofreach; it’d be nice to know how much of that “approximate £5.6M” will actually be available to EUA after costs and the fact we only own 68% of WK. No idea how the vat credits work however I’d doubt they’d be able to use them for ongoing operational costs. There’s also items still pending such as NKT open pit update, NYUD JORC, Rosgeo JV & licence costs none of which we are sure have been paid for already or not (I’d like to think NYUD JORC has) so IMO cash flow may be an issue soon.

Here you go Roger65; a few changes but nothing to get too excited about just yet. An update on the NYUD licence transfer or NKT update would be nice as both are within the BODs control but thinking/hoping they’re holding back on that info to give it along with the MT DFS.
1. 12th May 2021; proposal from a credible party 653 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 484 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 434 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 381 days ago.
5. Rosgeo JV; options on remaining assets expires 26 March 2023.
6. BOD options are due to expire 2 May 2023.
7. MT DFS: submitted a minimum of 66 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.

Big increase in noise on here yesterday, news from the BOD must be coming “shortly”.
1. 12th May 2021; proposal from a credible party 652 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 483 days ago.
3. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 433 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 380 days ago.
5. Rosgeo JV; options on remaining assets expires 26 March 2023.
6. BOD options are due to expire 2 May 2023.
7. MT DFS: submitted a minimum of 65 days ago.
8. Nyud; Exploration license received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.

Treadingcarefuly; I didn’t realise the 90 day process was dependant on the amount of docs to review. Are you stating a fact or making an assumption, do you know how many docs there were for WK compared with MT and how many staff are working on the approval?

64 days after the BOD advised the WK DFS was submitted (RNS 30 Sept 2020) we had this on 3 Dec 2020;
“The DFS has now been approved by the working meeting of the Russian State Committee on Reserves. The final approval is expected to happen this month”
It’s been 62 days since they advised that the MT DFS was submitted!

@LB; The Rosgeo JV sounded brilliant when announced but I’m not so convinced now. Far too many questions and not so many answers. Something just doesn’t feel right about it and like everything with our BOD we will probably never get the answers. 2 months on from Rosgeo receiving the NYUD licence we still don’t have a clue what’s happening ref transferring to us.
@Wolfe; IMO there only option is to sell something ASAP but we’ve been saying that for years!