Member Info for del929

Is it possible that after the invasion of Ukraine the buyer for whatever reason requested a DFS? Possibly to appease/justify the purchase to their shareholders when/if the sale goes through as they know it may be a risk to invest in Russia? Or possibly whoever is funding them requested it for the same reasons.

Happy with that RNS on first reading. A lot to digest but they seemed to have covered most points. Will look into it in more detail tonight.

Reported on Sky news a few minutes ago. Let’s hope the Russian Governments version of shortly isn’t the same as our BODs!

News is emerging that Vladimir Putin is due to give an address to the board of Russia's Ministry of Defence shortly.
"There will be an important speech by the president," Kremlin spokesman Dmitry Peskov said.
We'll bring you updates on his speech as we get them.

M&A = Mergers & acquisitions
IMO = in my opinion

Lenoman; I’m not debating the DFS, I’m pointing out the BODs poor communication skills. Accept your point though so will leave it at that.

Trading; “The message seems very clear to me. They both say EUA will complete the DFS and submit it by the year end”
Apart from these two comments! Yep, very clear...
set aside sufficient funds to complete and submit a Definitive Feasibility Study for the Monchetundra project in November 2022.
Monchetundra Definitive Feasibility Study being progressed for completion by the end of 2022

Ragsrob; it might just be me but I’d like to see them give clear, easy to understand details in the RNS and for the BOD to keep the same wording, not change it every time they mention it. We’ve supposedly got the best of the best working for us yet they can’t do simple clear communication, things like that don’t sit right with me. What’s your thoughts on it?
29 June 2022;
1. MT Definitive Feasibility study on schedule for submission in 2022.
2. The Company continues to progress discussions with regard to the potential sale of its assets, appointing KPMG Russia as agent in May 2022, and has set aside sufficient funds to complete and submit a Definitive Feasibility Study for the Monchetundra project in November 2022.
3. The Group has spent £682,419 on a development programme for the Monchetundra asset during 2021 and has budgeted a further £527,000 for statutory reporting on this asset to November 2022, keeping the asset in good standing while strategic options for the project's development are considered.

30 Sept 2022
1. At Monchetundra the ongoing DFS study for the Loipishnune and West Nittis open pits represents an important reporting milestone for the project's development and is on schedule for submission before the end of 2022.
2. The Definitive Feasibility Study for the Monchetundra (West Nittis and Loipishnune) open pits is well advanced and on schedule for completion this year. Details of this report will be provided when a response is received from the relevant authorities. The Company has previously released a report commissioned by Wardell Armstrong International covering the adjacent NKT deposit, a deposit which the Company has title to through its Monchetundra Flanks license. Reporting on other Kola deposits, including Nyud and Moroshkovoe will be provided when Eurasia holds title to the relevant licenses. Operational highlights include:
3. Monchetundra Definitive Feasibility Study being progressed for completion by the end of 2022

Mizman; similar happened for WK DFS approval I think it was Dec 2020 and they didn’t advise us it was delayed. They just waited until it was approved around 20 Jan. Communication has always been poor

Mizman; it also goes on to state the following which is typical of our BODs inability to clearly communicate to its shareholders. Is it completion or submission by end of the year?
The Definitive Feasibility Study for the Monchetundra (West Nittis and Loipishnune) open pits is well advanced and on schedule for completion this year. Details of this report will be provided when a response is received from the relevant authorities. The Company has previously released a report commissioned by Wardell Armstrong International covering the adjacent NKT deposit, a deposit which the Company has title to through its Monchetundra Flanks license. Reporting on other Kola deposits, including Nyud and Moroshkovoe will be provided when Eurasia holds title to the relevant licenses. Operational highlights include:
· Monchetundra Definitive Feasibility Study being progressed for completion by the end of 2022.

Selecta6; the BOD are going to have to justify their salaries at some point very soon (if there’s no asset sale). I’ve no idea what our current income v expenditure is but the cash in the bank won’t last for much longer. In addition I believe the Rosgeo options on additional mines expires in Feb and they’d need funds for that too. IMO Q1 of 2023 is going to be very interesting.

Ragsrob; I can only see two comments which I would class as childish. One ref tea & biscuits and one ref shoe sizes. I had thought maybe people might post genuine comments but that seems to be beyond certain individuals!
Do you know if he has many contacts/experience in Russia? I’d think that’s a priority for EUA at this moment in time.

Selecta6; there’s lots of good news on the horizon, let’s just hope it’s all released with the approval of the DFS whenever that may be is anyone’s guess at present. I just hope it’s not the same dept that is dealing with the NYUD licence.

I thought it might be worth discussing EUA matters today rather than reading about the usual petty arguments. Plenty subjects to discuss (both for and against) hopefully it might remind a few people of the potential the BOD are holding onto or even better about to finally update us on :)

Where are we at with the NYUD licence, is the JV actually working as the BOD expected? What’s happening ref the other areas, we had the option on 9 in total from memory but only ever proceeded with NYUD as far as I’m aware.

Artem Matyushok was appointed as INED on 18 May, I wonder what has he been doing for EUA since then?

Binding Agreement was signed with ERDC on 6 Dec 2021. What benefits has this brought to the company for the last year and was it worth it?

On 16 Dec 2021 the BOD gave us this update.
“Work on the open pit part is in progress and the NPV of that part will be announced separately”
Has there been any further news on this that I’ve missed?

An update on the DFS would be appreciated, hopefully it’s still on track for completion by the end of this month and hasn’t slipped back anymore. Has anybody got any idea how long it will take our BOD to review it before submission takes place?

RNS 1 Sept 2021; The Monchetundra Definitive Feasibility Study (DFS), contracted to CKE and EMR (both defined below), is in the final stages of its development further to the successful completion of geotechnical and other studies performed by Gipronickel (an engineering arm of Norilsk Nickel) as well as an audit by Wardell Armstrong International.

29 June 2022;
1. MT Definitive Feasibility study on schedule for submission in 2022.
2. The Company continues to progress discussions with regard to the potential sale of its assets, appointing KPMG Russia as agent in May 2022, and has set aside sufficient funds to complete and submit a Definitive Feasibility Study for the Monchetundra project in November 2022.
3. The Group has spent £682,419 on a development programme for the Monchetundra asset during 2021 and has budgeted a further £527,000 for statutory reporting on this asset to November 2022, keeping the asset in good standing while strategic options for the project's development are considered.

30 Sept 2022; Monchetundra Definitive Feasibility Study being progressed for completion by the end of 2022.

So much news overdue and the BOD have confirmed that they’re fully aware that shareholders are expecting some news, would be nice if they gave us something before Christmas.
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” 587 days ago!
2. Rosgeo JV Licences; (1 Sept 2021) Nyud in advanced state 475 days ago!
3. Rosgeo JV JORC’s; (24 Sept 2021) due shortly 452 days ago!
4. Asset sale; (28 Oct 2021) buyers DD complete 418 days ago!
5. Binding Agreement Signed with ERDC (6 Dec 2021) 379 days ago!
6. NKT JORC; (16 Dec 2021) Work on the open pit part is in progress and the NPV of that part will be announced separately 368 days ago!
7. NYUD JORC (8 Feb draft CPR with BOD for review) 315 days ago!
8. 2 March; BOD confirm that the sanctions don’t prevent the Company from executing on its M&A strategy 293 days ago!
9. 18 May; Artem Matyushok appointed as INED to speed up the sale process 216 days ago!
10. 30 Sept; MT DFS being progressed for completion before the end of 2022.
11. 151,000,000 options are due to expire 2 May 2023.