Member Info for djm1

Anders its a year old this article......

Alex do not feed the vermin.

The company is private means the shares of that company are not traded on the exchange not you lose your percentage ownership.

Ethio a quick look on the rules about ownership and delisting might be useful because you are not factually correct.

I thought yesterday was a good update with a lot of focus being on the Nomad situation. But as the RNS said the company is in advanced negotiations and WHI are staying on to help with the handover, this has to be a statement of fact so it seems a very elaborate way of delisting a company to me.
WK sounds like its progressing well and this active increase in mining maybe where the board is planning to increase its strength. At some stage we will see an upgrade in resources as well. With the inability of RSA to meet demand due to lockdown and financing issues, WK could be a very good cash cow for the company. I imagine that any production will be monetised quickly in this market.
It was my understanding that negotiations for the sale of MT are ongoing, hence the clarification of who CITIC were but not a confirmation of a signing of agreed terms. In this respect i wonder if we were suspended at the company's request because Hammond's Tweet was factually incorrect, maybe an honest error but it allowed the company to ask for a suspension which is as i read it, is allowed under aim rules when negotiations are underway, and not as sinister as some seem to think. But that is my opinion only.
I liked the reference to the inability of RSA to fire up production, it was a clear message to those circling that the price could quite easily go up, as the structural deficit is about to widen. Along with the Absolute Precision tweet its clear that signals are being sent. Some seem to despise this course of behaviour by the board but they are playing hard ball so to me they are doing their jobs well.
Sounds like flanks approval are due any day and i cant see this not having a positive effect on share price were we to re list.
I thought it was positive and i can understand people's fears about the Nomad but it seems at this stage over egged, some have questioned what the BOD have been doing for the last 7 weeks, to me it seems they have been very busy.
GLA and stay safe hopefully we will see the benefits of our lockdown soon.

erifles, i would imagine its a negotiating tactic from a buyer, they want MT because of the flanks and the relatively straight forward mining operation but on the other hand deny that a full valuation can be ascribed to it through lack of proof!

Potentially yes in order to remove any doubts about what is there, as TDT alludes to in his NPV calculations.

The below list of resources has been compiled by the Murmansk Geological Archive and represents the current database of resources in the immediate area of the Monchetundra production license.

This information contained in the Russian Cadastre has not been independently verified by Eurasia and it is therefore provided for guidance purposes only.

The Company would need to verify the data in the Russian Cadastre through additional work and drilling if it was to incorporate the data into the defined resources of the Company (as required by the relevant mining standards and the AIM rules). The Company may undertake such work as and when it is deemed necessary and in any event if it determines to progress with expanding the operations of the Company; building upon the data sets already established by previous workers.

Taken from the MT update on the 4th Dec.
Its possible that a bidder may be trying to low ball the offer based on their assessment of insufficient evidence on the flanks resources, or it could be more detail required to mine MT ourselves( cant see anything being done at MT this year now realistically) or its for the increased acreage at West K.
With mining season approaching fast an update must be due but how to do that without revealing ones hand might be tricky.

Hi Ian,

well its how the world works isn't it, especially in Russia. With Oil tanking Russia will need every last rouble it can lay its hands on so big industry will be very important. While we are only small time, we are still jobs and taxes.

West K is a long way from Moscow, this would be the mines first full season under direct operatorship, with prices still strong it's a great opportunity for the company that I'm sure they will want to get stuck in to. Let's hope they can start mining.

Hi Alex
this could be about West Kytlim and Machinery at MT does not mean it won't or can't be sold...I imagine after the winter machines are there just to keep on top of access roads etc.

yep starved is right.

Amers I was not in to Twitter before this...loved the first tweet from Indaba about negotiations....loved the second tweet re Citic...until suspension . Anyway at least we know they are still alive and doing things!!!

Just reviewing Last October interview with Dimitry on Proactive, 2018 was first year at WK of commercial production with contractors, prior to that only pilot production. He refers to Anglo American selling out in 2014 (which he says they subsequently regret) for West Kytlim, not at MT which Book 5 talks about on the other board (i say talks, i think hes knows very well the untruth he speaks). Sep 2019 was the first period of EUA mining completely themselves at West K for PD, PT, Rh, Ir and Au.
A previous interview on proactive in August, with Christian Sch, questions why only 1 wash plant, Christian refers to permitting issues which Dimitry then says have been resolved in later October interview.
So WK should be going in to production soon, potentially with increased plant. The maximum output achieved last year was 7kg per day of metals or circa 200oz.

Well done!

Again they won't be able to BS a due diligence team from another company so why would you try. They would all be tarred as fools. They have said it's open pit......and stated their costs....it's easy to verify for experts so why lie?

BNR, yes still no clarification on what Lamtree means by naughty. But he restates it regularly with no back up or proof, does not even bother with IMHO.

Imagine doing nothing all day except commenting on a bulletin board, arguing petty points with people you don't know. Even before the lockdown...

OMJ has views on lots of companies and some are completely off beam and his disapproval expressed in purile and offensive terms. So if hes such a serious investor why does he even engage with the likes of us PIs?? If id made millions as an investor and was so sure of myself I wouldn't be tweeting about the place, I'd be diving off the back of my boat some where nice.

DD as someone who is self employed and seen the order book fall off a cliff i am more than a little nervous about current events, as markets have tumbled i've been grateful of the suspension but i could do with something to ease my nerves for sure. It seems that there is wiggle room for the board to stay silent and still be working in our best and the company's best interests. Im hoping the news from China holds true and some positivity returns in general across the world. If C19 flairs back up there again then the consequences could be truly awful.