Member Info for del929

The SP has been getting played for ages. I think we have to accept that the market doesn’t rate EUA as highly as we do! IMO that’s down to the BODs communication which is poor, use of certain words is appalling and contents are vague. MT DFS is confusing, Rosegeo Licences, JORCs, Ukraine situation and lack of updates just make it easier for the market to do as they please with the SP.

Im positive my postal vote has to be returned to Halifax by 22 July so if no news from the BOD by the 19th I intend to vote based on what I think. At this moment in time I see no benefit in reappointing both INEDs as I have no idea what they are actually doing! I’ve emailed the company to ask but had no reply which kind of sums up the previous 12 months of not having a clue what’s going on!

Another blue week would be appreciated along with some news from the BOD before the shareholders vote at the AGM, Halifax have gave me until the 22nd to return my form;
1. Rosgeo JV Licences; (1 Sept Nyud in advanced state) 312 days ago!
2. Rosgeo JV JORC’s (24 Sept; due shortly) 291 days ago!
3. Asset sale; (28 Oct buyers DD complete) 256 days ago!
4. NYUD JORC (8 Feb draft CPR with BOD for review) 153 days ago!
5. 24 Feb Russia invades Ukraine 137 days ago!
6. 2 March; BOD confirm that the sanctions don’t prevent the Company from executing on its M&A strategy 131 days ago!
7. 16 May; EUA suspended for 2 days for an unknown reason!
8. 18 May; Artem Matyushok appointed as INED to speed up the sale process, change of wording from “Potential Sale” to “Our Russian assets sale process” 53 days ago
9. 13 trading days until the AGM

Monty; you seem very well researched and knowledgeable. It’d be a good idea if you were to give the company a call to ask these questions then let us know the responses you get.

The BOD’s communication has been and still is utterly useless. As an example the MT DFS was nearly complete on 1 Sept 2021 then suddenly they announce in the Annual Report that it’s more like Nov 2022! Similar can be said of the Rosgeo licences and wtf is happening ref the NYUD JORC the BOD were auditing/reviewing in Feb? OK Russia invading Ukraine created massive issues for us but the problems started long before that. On every point there is never a clear explanation yet we are expected to accept that all is progressing as planned, I’ve no idea what their current strategy is but imo it’s not working. Now they want us to vote to re-appoint 2 INED’s but give no explanation as to what they are going to do apart from add to the cash burn.

The BOD could release lots of news but they haven’t. NYUD license & JORC, update on the asset sale or at the very least a summary of the FSP including how many offers they had and price range of those offers. I can’t see how that’d be prevented by the NDA’s. The simple fact is the silence gives the market no confidence and those possibly in the know (undisclosed II’s) can do as they please with the SP. As for speaking to Keith all he ever says is he will pass it onto the BOD who clearly don’t listen to shareholders concerns. I’m voting no to re-appoint the two INED’s unless we get more details, IMO it’s just throwing away more company cash on wages on people who can’t complete the Asset Sale.

I’m expecting the BOD give us more information as to how these two INEDs are going to add value to the company before I decide on my vote.

Possibly also because no II will touch this with a barge pole now anyway. I hope your theories right though Mac

Erik, because I believed that the BOD would achieve what they said they would

It’s dropping because our amazing BOD are incapable of basic communication leaving us open to constant debates ref what’s happening and drops in the SP as the MM’s and possibly II’s do as they wish. You know the secret II’s who invested at 26p and probably know a lot more than us.

I’m in the red, first time since Oct 2019.

1. Rosgeo JV Licences; NYUD in advanced state 1 Sept 2021
2. MT DFS; nearly complete 1 Sept 2021
3. NYUD JORC 8 Feb 2022 draft CPR with BOD for review
4. Clarity around which items are covered by NDA'S
5. Is the party that carried out DD still at the table
6. Have any bids been received and consequently rejected

Iknownuffin; CS stated that Artem is hopefully going to speed up the Russian Asset sale.

I thought it’d be beneficial to make a list of questions for the BOD to clarify prior to the AGM vote, feel free to add anything
1. Rosgeo JV Licences; NYUD was in an advanced state 1 Sept 2021
2. MT DFS; was nearly complete 1 Sept 2021
3. NYUD JORC 8 Feb 2022 draft CPR with BOD for review

The BOD will have to give us more details to justify the vote to re-appoint these two Independent Non-executive Directors;
KOTARO KOSAKA
ARTEM MATYUSHOK

So just over 4 weeks until the AGM, I’m expecting some more RNS’s with some details. Maybe we all put a list together and all email it to the company.

1. WK production figures for 2021
2. Rosgeo JV Licences; (1 Sept Nyud in advanced state) 302 days ago!
3. Rosgeo JV JORC’s (24 Sept; due shortly) 278 days ago!
4. Asset sale; (28 Oct buyers DD complete) 244 days ago!
5. NYUD JORC (8 Feb draft CPR with BOD for review) 141 days ago!
6. 24 Feb Russia invades Ukraine 125 days ago!
7. 2 March; BOD confirm that the sanctions don’t prevent the Company from executing on its M&A strategy 119 days ago!
8. 16 May; EUA suspended for 2 days for an unknown reason!
9. 18 May; Artem Matyushok appointed as INED to speed up the sale process, change of wording from “Potential Sale” to “Our Russian assets sale process” 41 days ago
10. 7 June RNS; AGM notice delayed & Annual Report behind schedule

The clock is seriously ticking for the BOD to give us some news. The MM’s know that news will probably arrive at the very last minute (Thursday 6.30pm). I really hope the BOD give us these long overdue updates otherwise any AGM will be very heated (understatement of the year). Meanwhile we have to suffer the constant conspiracy theories of Monty, Kira etc (which could be true)
1. WK production figures for 2021
2. Rosgeo JV Licences; (1 Sept Nyud in advanced state) 301 days ago!
3. Rosgeo JV JORC’s (24 Sept; due shortly) 277 days ago!
4. Asset sale; (28 Oct buyers DD complete) 243 days ago!
5. NYUD JORC (8 Feb draft CPR with BOD for review) 140 days ago!
6. 24 Feb Russia invades Ukraine 124 days ago!
7. 2 March; BOD confirm that the sanctions don’t prevent the Company from executing on its M&A strategy 118 days ago!
8. 16 May; EUA suspended for 2 days for an unknown reason!
9. 18 May; Artem Matyushok appointed as INED to speed up the sale process, change of wording from “Potential Sale” to “Our Russian assets sale process” 40 days ago
10. 7 June RNS; AGM notice delayed & Annual Report behind schedule

Can’t be long before we get some updates/clarity on some of these;
1. WK production figures for 2021
2. Rosgeo JV Licences; (1 Sept Nyud in advanced state) 300 days ago!
3. Rosgeo JV JORC’s (24 Sept; due shortly) 276 days ago!
4. Asset sale; (28 Oct buyers DD complete) 242 days ago!
5. NYUD JORC (8 Feb draft CPR with BOD for review) 139 days ago!
6. 24 Feb Russia invades Ukraine 123 days ago!
7. 2 March; BOD confirm that the sanctions don’t prevent the Company from executing on its M&A strategy 117 days ago!
8. 16 May; EUA suspended for 2 days for an unknown reason!
9. 18 May; Artem Matyushok appointed as INED to speed up the sale process, change of wording from “Potential Sale” to “Our Russian assets sale process” 39 days ago
10. 7 June RNS; AGM notice delayed & Annual Report behind schedule

Drthomas; I’m not sure if they have to but we are all expecting the annual report & AGM notice. Nothings ever guaranteed with our BOD though