Member Info for del929

I wonder how things are going with NKT open pit upgrade?
“In order to further upgrade the resource Eurasia has engaged with SGS and Alex Stewart International for primary and secondary controls of the PGM assays on the historical drill core and the trenches by Severonickel / Norilsk Nickel as well as on the additional confirmatory drilling just done by Eurasia on NKT.
The net present value ("NPV") using an 8.33% discount rate for the underground part of the NKT project is $1.2bn under the WAI price forecast and $1.7bn under spot prices. Work on the open pit part is in progress and the NPV of that part will be announced separately.”

It’s all very confusing but we have no option apart from to trust in the BOD, I’m sure they have their reasons for the constant very poor communications. I wonder what the NOMADs opinion is on it all? They’re certainly not giving us the full details on anything which has to (hopefully) be a positive. IMO it’s a full asset sale and forget EUA v2, I don’t think many shareholders will wish to remain invested with the current situation in Ukraine along with the BODs communication skills.

Leno; we probably can’t sell until we have the MT DFS, sanctions are a complete unknown at the minute as the BOD haven’t stated how they affect us (I suspect the Rosgeo JV is the issue) Is a way round that for EUA to buy out Rosgeo’s 25% of NYUD (if we have enough cash).

I wonder why the BOD didn’t tell us on 21 Dec 2022 the info they eventually gave us on 24 Jan 2023?
21 Dec RNS
1. A new application for an exploration license for the Nyud area has been progressed by Rosgeo and the Company will update shareholders on receipt of this license in due course
2. Further announcements regarding the potential impact of any further UK or EU sanctions will be made as appropriate
24 Jan 2023 RNS
1. The Company notes that the Nyud exploration licence was granted to OOO Monchegorskoye in mid-December 2022, a company established and owned by Rosgeo.
2. Any further developments in the Rosgeo agreement are being considered and would take place in the context of both Eurasia's sale of assets process as outlined in previous updates to market, as well as the sanctions environment, following recent (16 December 2022) updates to both UK and EU legislation.

1. 12th May 2021; “We are delighted to have received a proposal from a credible party that could allow us to pay a significant dividend to all shareholders” 622 days ago.
2. Asset sale; (28 Oct 2021) buyers DD complete 453 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 403 days ago.
4. NYUD JORC (8 Feb draft CPR with BOD for review) 350 days ago.
5. Rosgeo JV; options on remaining 8 Assets expires 26 March 2023.
6. 151,000,000 BOD options are due to expire 2 May 2023.
7. MT DFS: submitted prior to 21 Dec 2022 with approval anytime between 30 & 113 days (WK)?
8. Nyud; Exploration license has been received by Rosgeo in mid Dec 2022, EUA will update shareholders on receipt of this license in due course.

Ragsrob; almost as silly as stating the list is getting smaller when the licence still isn’t ours. Anyway, don’t want to ruin what is a good day by getting into a petty argument. Have updated the list.

My apologies they did mention it on 21 Dec update but understandable how everyone missed it with the BODs choice of wording!
“A new application for an exploration license for the Nyud area has been progressed by Rosgeo and the Company will update shareholders on receipt of this license in due course.”

Ragsrob; yes it’s definitely good news. Can’t quite figure out why it was approved mid Dec, yet the BOD didn’t think it was relevant enough to tell us about on the 21 Dec 2022 update. It’d certainly have been nice to know. Any idea when it will be transferred to EUA and then they can release the JORC details?

Aston, is LB correct in that there’s a rumour on TG or that the licences granted?

Fingers crossed it’s true. Won’t take long for the bongo drums to update us.

The time taken wouldn’t be an issue for me if the BOD were transparent about things. IMO opinion they’ve being deliberately vague about things. MT was supposedly as good as sold then suddenly we need a DFS, Rosgeo JV is a shambles and yet we raised $35M towards funding it (where exactly did those funds get spent). ERDC binding agreement; what have we actually gained from it? certainly no assistance with speeding up licences, DFS approvals etc. BOD additions even more money wasted on additional salaries with to date no benefit to the company from what we’ve been told. Japan office, WTF is that all about? The BOD have certainly splashed the cash for very little known return. To be fair WK is coming on nice but they can’t even give us a straight answer ref the income from it, saying $5.6M but not clarifying if that’s net to EUA is p1ss poor at a time when our cash flow is essential.

The clocks ticking for our BOD to deliver on the “Russian Assets Sale” and justify the spending of circa $30M which was obtained specifically for the Rosgeo JV which to date has gave us zero in return! IMO they need to seriously review their current strategy (if they have one) as clearly it’s not working.
1. 12th May 2021; “We are delighted to have received a proposal from a credible party that could allow us to pay a significant dividend to all shareholders” 622 days ago.
2. Nyud Licence; (1 Sept 2021) in advanced state 510 days ago.
3. Asset sale; (28 Oct 2021) buyers DD complete 453 days ago.
4. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 403 days ago.
5. NYUD JORC (8 Feb draft CPR with BOD for review) 350 days ago.
6. Rosgeo JV; options on remaining 8 Assets expires 26 March 2023.
7. 151,000,000 BOD options are due to expire 2 May 2023.
8. MT DFS: submitted prior to 21 Dec 2022 with approval anytime between 30 & 113 days (WK)?

There are some absolute pathetic individuals on here ruining any discussion with their constant petty arguments between each other. FFS, can you grow up and if you don’t like another poster or their opinion either have a grown up debate, ignore or filter them.
Let’s debate EUA issues;
1. DFS; submitted and awaiting approval (WK took minimum of 113 days so anything quicker than 12 April is a bonus).
2. NYUD licence; bit of a mess, submitted over 500 days ago but resubmitted around 200 days ago. I’m curious to know why the BOD didn’t have to inform us of this fact until recently?
3 NKT; open pit update is long overdue, again I’m interested to see where we are at with that, it’s within the BODs control via WA so they could release that any day now.
4. Cash flow; obviously we are spending more than we are bringing in at present (none of us know what the current cash burn is though) another placement isn’t possible without an EGM vote which I can’t see gaining shareholder approval so is cash a concern for the BOD, it appears not at this moment in time.

Today marks a minimum of 30 days since the DFS was submitted based on it going in on 20 Dec (hopefully much earlier). Wouldn’t it be nice if it was approved today, we certainly need some good news. Grasping at straws I know but what else can we do here?

Beast; poly dropped from circa 1200 to circa 100 and has recovered to around 350. The ONLY reason for the drop was Ukraine, so why have they recovered yet we haven’t. The ONLY reason has to be the actions taken & information released by their BOD. I take your point ref the DFS but how difficult would it be to state what date it was submitted on at the very least? I can’t see why that would breach an NDA for me it’s typical **** communication from the BOD at a time when we are all desperate for some positive information. What’s your view on NYUD, do you think they’ve handled that well and been totally up front with us?

@Pompal; at these prices and with our assets there should be a queue a mile long to buy but there just isn’t the interest/belief. Ukraine has created a huge issue but other companies seem to be managing that now (POLY) so why aren’t our BOD doing more? I honestly think there’s more to it than the war but we will never know as our BOD are lacking in communication skills

@Ramp, all those previous jumps were prior to the situation in Ukraine. It’s a totally different situation now and our super, amazing, wonderful, experienced in every situation BOD are more like bunnies in headlights these days! They aren’t giving the market any confidence in the company and seem incapable of giving any kind of update worthy of a sp rise. Take NYUD as an example, how long have they being processing the licence transfer and how much have they spent on it with zero returns to date. Even MT DFS, give us the fecking date it was submitted and an idea of approximately how long for approval (with possibly ERDC assisting to speed it up) but no all they tell us it was submitted and receipt acknowledged.

@AJ; unfortunately until the BOD come up with the DFS and probably some asset sale news the sp is going nowhere except down slowly.

Dattabase; are you sure the Chairman, CEO & Directors are Russian? I thought CS is Irish, James S African and not sure on the others. I think Dimitri is but he’s M&A manager/assistant/advisor/assistant/teaboy or whatever.

Well put Tygra. The excuses from the BOD are starting to wear thin now, we’ve had suspension over a tweet, FSP, NDAs, another mystery 2 day suspension, mysterious investors for the placements, signed god knows how many agreements with various banks, lawyers, tax consultants, ERDC, Rosgeo JV and yet they can’t even apply for NYUD licence correctly then don’t notice it for over 6 months. Reapply but don’t tell the shareholders for how long? It seems the BOD are not held accountable and answer to no one. Their communications are shocking but I’m now assuming this is done on purpose. Trust, confidence and respect is very low and I’m just wanting them to give us some kind of closure once the DFS is approved although we don’t even know when it was fecking submitted or how long it will take (30, 90 or 113 days)