Member Info for Fr.Jack.Hackett

Mentioned long time ago this company needs real boardroom help.

For a company that 2 years ago stated they planned production of 50koz, then changed to 25kox, then 12.5koz then . . . . . . now its struggling with the 1871oz gold loan.

I assume most on here have been following this - it has not been nice to watch.

Wish GRL luck - but I think the Asian Investment organisation know exactly what they have been doing and they have a very well organised agenda to put against a possible poor managed gold mining company.

Mr SpikeyJ,

You missed a 4th reason - as presented by Mr mac4671 at 10.57:

". . . possibly didn't take the full amount to minimise shareholder dilution. . . ".

". . . possibly didn't take the full amount to minimise shareholder dilution. . . ",

If true - what a true gentleman Mr CS is.

And even truer gentleman Mr DS is for not even considering diluting the shares - he knows the affect of dilution as he holds shed-loads.

Mr Magnum.PI

If you wonder why DS never "flipped" the shares - can you imagine the hole the SP would enter - look at what our friend Alexei Churakov accomplished - he wrote-off approx £385m from the company MCAP by selling 12 million shares.

Current MCAP is approx £70m.

Mr Outofreach,

You'd think they'd give the rest to charity . . .Smashy & Nicey would.

DS had 20m CS had 20m

DS now lost all the options, CS exercised 6m. Could it be argued that CS has a 6/20 or 30% level of confidence ?

Gotta find reason in any matrix of data for interpretation.

Could there also be reason under sanctions that may prevented DS exercising the 20m?

Mr Kammy18,

Your words " . . profit making and or companies with money in the bank have folded due to sanctions and the on-going conflict, no fault of their own, just the wrong time, place and situation. . . ." is so true - and EUA need to ensure they do not follow - if they can.

I cannot say they will or wont - and I not sure many here have provided enough level of evidence to suggest they will or wont. I think that is why the BOD specifically used the word hope in their summary statement with regards the asset sale.

Mr Kammy18,

I post my opinions (and I make clear they are my opinions) and facts - and also observations mainly from from other companies.

The effect of a +35% share movement from 2 years ago creating a 10p share price change is fact.

That is why I posted it - if it is interpreted as positive or negative - is up to the reader.

It maybe just the state of EUA at the present time that most of these (opinions, facts & observations) tend to lean towards being interpreted as negative - unfortunately I cannot change that - maybe EUA can change the share-price atmosphere.

+ 35% week

I remember the days when a +35% movement would mean a +10p (or -10p) change in price.

Maybe we all see this again before end of year - but it is a rather big ask.

I am sure there are points from this that can apply to other companies - however I think all EUA assets are already quantified.

https://www.lse.co.uk/rns/UPL/response-to-speculation-pnayfkozdunbcvk.html

". . at the World Trade Center in Moscow. . "

Is it legal to use the words "World Trade" and "Moscow" in the same sentence? I am sure some laws or sanctions are being broken here.

With regards to last weekend stuff being discussed here - it was nice to see some effort being put in by some of the posters - and I think that thought is typically summarised by Mr Spikeyj contributions but also by others. Its always good to see other opinions evaluated & justified & quantified - irrespective of agreeing or disagreeing.

Well done - and you know who.

Mr bobbybingo,

You make some good points - and maybe things work out well with the DFS with respect to mineral grades - and it would add some value back to the SP I am sure.

I do not think the DFS will be issued before an agreed sale price is presented to shareholders. Maybe all this information is presented on the same day - if so would then allow shareholders to make proper decision at vote.

Mr bobbybingo,

Rather than disagree with you, I shall make suggestion to Amur which also had a early feasibility study showing NPV of $333m. The company later sold the asset for $35m.

Please consider this - and let us know if it influences your predictions between 20p and 40p.

thank you

Mr bobbybingo,

You stated ". . . i dont think the sale will be at a high price but hopefully its north of 20p. . . ",

Please note: your 20p is a 8x increase on todays SP. May I therefore ask what a high price is for you if a 8x increase in SP is not considered high price ??

". . .current operations don’t include mining/ exploring / selling our stored concentrate. . . "

Not my words - but if above is true - then what are the current operations?

Selling the mining assets ? that's been ongoing for 3 years+ maybe longer

Not communicating with shareholders ? I think they busy doing this - maybe nearly full time - and are experts now I think!!

My view - if they put less effort in "not communicating with shareholders" and focus this "effort" onto the asset sale - then they will make sale next week.

Mr Tygra,

Your statements:

" . . all is not well sanctions wise. . . "

". . . because they CAN'T. . . "

are similar to the conclusions I have arrive at to understand the situation - and have been applicable for a long time.

Please note - the COMPANY have stated they ;

" . . .remains satisfied that its current operations are not prohibited under US, UK or EU sanctions rules. . . ".

Originally - the COMPANY stated the sanctions do not affect operations - now it is that they are not "prohibited" or in simple terms - they are not illegal. Its not good when a company is just "satisfied" that it's operations are not illegal.

I am sure some members of the BOD are very hopeful they are not conducting illicit activities.

EUA are an exploration & mining - if they cannot do either - then sanctions ARE affecting their operations. If they dont sell the product - then maybe they are "satisfied" they are not breaking laws!!!

Sanctions are here to stay - this COMPANY need to address this - if they cannot operate - then where will the revenues come from ??

I think the main reason for Rosgeo concerns - nobody wants to put capital into their country if there is any alternative elsewhere in the world.

Russia has made investing in Russia so risky - why bother when you can still have a flutter on an outsider in the 3.20 at Redcar today.

One point direct to Mr Mac (but others may contribute as always) - if the conflict does end this year - how many decades do you think it will be before the EU & UK start considering reducing sanctions ?

My thoughts - I think some of us shall be still driving hydrogen powered cars but many will be using the teleport by the time the sanctions are lifted.

Also - if you don't know yet - the technology for teleport uses shed loads of palladium and platinum.

Mr Peleliu and others,

CMCL did state in the Corporate Presentation 2023 (page 14) that the peak funding for Bilboes is $250m based on the actual FS on which CMCL purchased the mine. CMCL then stated that they will be looking at completing their own FS based on a phased development to minimise the initial capital investment and reduce need for third party funding.

Note : The company is currently running around $40m pre-tax profits.

I would like to think they can get a level of phased production from Bilboes using 3/4 years of internal cashflows plus (say) $70m external funding : making up hopefully $150m - which I would like to consider in calculations enough to get the Bilboes mine running to at least 50% capacity - and then over the following few years increase to 100% capacity through internal cash flows from Bilboes balance sheet only.

This is speculation and is my opinion based on assumptions on an unembellished model as the original FS is not available (if it is then please - someone please make link to document) and I am hoping the COMPANY makes available certain items from their own FS when complete.

An additional item - the COMPANY still maintains 75-80K oz for the year. If the company can balance books and pay dividends on production of 75k, then with the new shaft adding more reliability - and based on the 21.7koz production for the last quarter - if this can be maintained over the year then it will add 11.8koz, or extra revenue of around $18m, above what they planned to run the company including dividends & CAPEX investment.

I suspect certain financial decisions shall already be made by the COMPANY before shareholders have visibility of the FS.

https://www.reuters.com/markets/commodities/caledonia-explores-funding-options-build-zimbabwes-biggest-gold-mine-2023-10-19/

Cannot spend much time looking at all this - pity Tillywhiz not here today cause he knows all the stuff to look at - but I suggest the amount of buys (even the ones that may look like sales) could make this turn blue later today as I am sure the amount of available shares in the kitty is dropping very quickly.

" . . . what say you?"

They have already said - with their silence over the last 2 years apart from legal required statements to adhere with LSE/AIM rules.