Member Info for Fr.Jack.Hackett

good morning:

scuba101 - my thoughts on the depreciation of stock - that happens when keeping stock - next month lower next month higher - i would prefer the stock liquidated however i assume this may possible cause more issues for eua depending on contract wording for off-take agreements - maybe it is more legal advise not to sell rather than economical advise - however i assume shareholders will not be accurately informed as usual. at least the commodity is mining concentrates which does not decay - not good if it was milk with a use-by date.

del929 - i assume you're correct - however for the name to appear after 4 or so years - then its interesting to ask.

overall - not expecting much info from agm so not bothered - i have already read the previous rns on the sales process and the changes in wording used over the last 24 months - so i assume at most the agm will generally confirm my understanding that the "credible party" has well flown the nest and any defiant participants at the agm that even suggests to mention the words "due-diligence" shall be dealt with similar to butch and m****llus wallace when they entered the pawnshop. please note - i understand eua have recently procured 4 full sets of snooker balls just for the agm.

i also wonder if the wording in the rns dated 6 january 2022 is still accurate and aligned with current company strategy . . "the board established that the target dividend amount shall be at least 80% of the company's adjusted net income (calculated as described in the policy)" . . .

as for the future of eua - they can 'look' all they like to new ventures in different jurisdictions and green hydrogen projects - however cannot do anything without spondoolies. it does appear to many (not all) that the company is entering a state of cryogenic existence with regards to any expenditure for 2023 onwards. i am not expecting the company to spend even tuppence in trying to put additional value into any of their book assets. i expect the only expenditure for 2023 will be mandatory expenditure for existence on companies register in various jurisdictions and also the cost of the snooker balls.

As Mr Del929 bought up the Japanese office at the beginning of this thread then I might as well plonk some irrelevant points which I would consider bothering to raise with the EUA Board at the AGM - if I thought they would bother to provide any level of relevant response - however I expect this AGM to be as informative as last year's, so would not put much effort & time into it:

1) Page 63 of AR states the jurisdiction the Group operates in, it is noticed Japan is not listed however an office in Japan is stated in Page 8. Is Japan an area of Jurisdiction associated with COMPANY activities?

2) Page 8 of AR states COMPANY view on investment case for potential buyers of Russian assets, for what specific reasons does MANAGEMENT understand has delayed/stopped the sale of these assets since the FSP was announced back in July 2020?

3) What (if any) is Alex Agaev involvement with Eurasia and/or with Grant Thornton during 2022/2023?

In addition - not associated with AR - but I still wonder if EUA consider obliging Shareholders with providing a quarterly mining progress updates on the actual activities/progress for the last quarter at West Kytlim - most other listed AIM mining companies I follow do provide such information for their assets.

For information, Alex is listed as document Author under the PDF document properties for the Annual Report and Accounts 31 December 2022 and was past Company Secretary.

I have mentioned before - and will keep saying - this company really needs some help at boardroom level - as I think market confidence in their RNS releases concerning future expected performance is near nihility.

Please note - the f**** in my posting was changed for the word f a r c e - I would never imply any naughty language here

mr mac,

i think it is more like the good, the bad and the ugly (with the script writer directly from eua rns announcements):

the good:

if mandatory updates to shareholders are ever to be considered good rather than expected !

03-jul-2023:

. . . eurasia mining plc. . . .announces its audited financial results and operational summary for the year ending 31 december 2022. . .

. . . at monchetundra, the dfs study . . . and the company was notified that all authorities were received at the end of june 2023. . .

it is good the accounts have been filed and prevented suspension - maybe better if eua had issued earlier last friday to avoid the 16% drop late friday - but that’s now history. it is also good the company this time thought to promptly inform shareholders that 'all authorities' were received - not like the f**** they purposely allowed with the nyud licence which took a month for them to announce.

the bad:

again it appears like backward steps in the sales process which must be considered bad for the asset sale - example being:

28-oct-2021 - . . . the credible party (the 'buyer') . . . has successfully completed its due diligence. . .

30 sept-2022 - . . . m&a team is focusing on brics counterparties, and discussions are ongoing. . .

03-jul-2023 - . . . the board remains of the view that any buyer is likely to be found in brics countries . . .

so its gone from . . 'the buyer' . . to . . 'focusing on brics' . . to now . . 'remains of the view that any buyer' . . rather than adding clarity it has become more blurred - at least eua are being honest with the status.

the ugly:

the sanctions are designed to throttle companies dealing with russia and may well get uglier in the coming months:

30 sept-2022 - . . .there has been no significant impact on the group's activities as a result of the . . . sanctions legislation

03-jul-2023 - . . . the company's activities are not prohibited under the sanctions . . .

as expected - the wording has changed from 'no significant impact' to now 'not prohibited' by the sanctions. how long will it be until their activities are prohibited. a certain dmitry suschov once said . . eua are not gonna rush the sale process. . - well maybe its time to change this attitude - as the uk government shall not be helping them. in reality, uk gov shall probably be trying to stop eua further with future legislation. eua need action now on the sale process - and if not do not be surprised with mcap drop in time.

Mr Bingo,

I suspect it is this issue that may be causing problems finalising the audited Annual Report and Accounts - if EUA auditors have any issues with what has arrived from the Russian subsidiary they cannot address these issues directly towards the document originators. As far as I understand the EUA auditors can only use the accounts as received - and therefore if they are not satisfied with anything within these third party audited accounts then they possibly may not be in a position to sign-off the consolidated accounts.

As I mentioned - it is the UK government trying to limit the ability of UK companies having dealings with Russia organisations and personnel. As the UK government have now given all companies over a year to get their house in order - they now feel like they can tighten these restrictions further.

I suspect next year will be even harder for UK listed organisations to have involvement in Russia whilst complying to UK laws.

From reviewing the discussions over the last two days - and my knowledge of the LSE AIM system - the half hour between 7am and 7.30am on Monday will probably dictate the future for ALL shareholders of EUA.

Possible outcomes - but there may be more:

a) COMPANY furnish accounts

b) COMPANY furnish accounts and provides confirmation for asset sale

c) COMPANY states cannot complete above - and shares therefore suspended until item a) is achieved

For me:

Item c) most likely - based on the fact back in April, EUA stated expectation to provide audited Annual Report and Accounts in early June - therefore it suggests that EUA have overlooked something and now have an issue to complete this mandatory task

Item a) possible - but seems very odd leaving to last minute - especially when so confident they would provide in early June they even suggested in RNS.

Item b) highly unlikely - as to arrange a sale process that been over 3 years in the making to land at the same time as calling for an AGM - just toooo many ducks to align - and they normally be quacking in all different directions - even the good ones flying

So : 7am on Monday

Mr Now,

I hope you OK.

Just like to have an opinion shared on your earlier statement . . .'I imagine Eurasia can keep ticking over and wait for better times to return' . . . . I am sure many on here have similar thoughts however, I suspect the 'antagonist' for EUA is currently the UK Government which is actively trying to choke any business between UK personnel/organisations and all Russian entities.

Please refer to my post on here earlier today, and it is my opinion that things will get worse, becoming critical and possibly terminal for EUA.

Time may well asphyxiate EUA.

2023 - doah - i mean 2022

Please find updated of the UK Gov sanctions dated 30th June 2023 (additional legal advisory services sanction added).

https://www.gov.uk/government/publications/professional-and-business-services-to-a-person-connected-with-russia/professional-and-business-services-to-a-person-connected-with-russia

From my records - the last time EUA made a statement saying there has been no significant impact on the Group's activities from sanctions was back on the 30th Sept 2023. Since then they have not made such a clear statement indicating 'no significant impact' even though they have refer to them.

With regards to the professional and business services sanctions, two updates have taken place since EUA made the declaration on the 30th Sept 2023:

16 December 2022 - detailing advertising, architectural, auditing, engineering and IT consultancy and design services.

30 June 2023 - increasing restrictions on legal advisory service.

For the legal advisory services - there is a grace period which will expire on 29 September 2023 for contractual obligations IN PLACE before 30 June 2023.

So;

1) Can EUA make a clear statement again of 'no significant impact' from sanctions (as of 30th June 2023)?

2) If no contract obligation is in place as of yesterday for sale of assets - can EUA complete this activity?

Unfortunately - I suspect the answer to both the above is negative - however maybe EUA can politely inform us on Monday.

Mr Mac,

Your statement '. . . In fact, when Monchegorsk comes online it will be one of the most profitable operations in the World due to the very low overheads!....'.

I thought we still await the DFS for MT, so I raise the reason you you sed the words 'in fact' in the above statement.

I do believe in most of your statement (if the words 'in fact' are removed) - however I have doubts that Russia will in future be considered as low overheads to certain organisations/creditable parties - risks normally increase costs.

And monetise risks in Russia shall probably appear higher for most (if not all) companies for a long time to come.

At the time of writing this - the SP is down 8% today.

From the amount of comments on this discussion board - I assume such a drop nowadays is not worth of a discussion.

I still refer to my last posting on GRL - especially the last paragraph - as i do believe this company really needs some help.

I assume the following GGP Share News is incorrect - made by Alliance News Ltd at 11.43:

'Exploration drilling has also begun at the Stingray target on the Budjidowns tenement, which is located north of Greatland's 70%-owned Havieron gold-copper project, Greatland said, while drilling will commence shortly at the Decka target.'

It be interesting to see what the UK investment market makes of the weekend activities, if instability within Russia at governmental level increases or reduces the risk profile applied to UK listed companies with assets in Russia.

We find out in 10 mins.

Not really interesting - but shall place link here for others - as I am sure some are tuning in daily with expectation of RNS and issue of AR - so light reading whilst waiting!

Eurasia are referenced as part of platinum in Russia:

WK as an operating mine

MT as a developing mine (stage - construction)

https://www.mining-technology.com/data-insights/platinum-in-russia/

When you click on the report link in the table (link below) takes you to a page which concerns worldwide platinum - most of the active/exploration/developing mines are Southern Africa. A few are Russian but MT not on the developing list.

https://www.globaldata.com/store/report/platinum-mining-market-analysis/

Thank you Iknownuffin for your learned contribution.

If you don't think the words in the RNS mean much - then that's your prerogative, others may take a different view. Suggest you make allowance for their faults.

Mr Mac,

You refer to the following "Possible sale of Russian assets"

You state 'Does it state the maybe process or does it state the 'Sale Process'?

For me it states the 'POSSIBLE sale. . . '

Please note - throughout this article I have either stated what EUA have stated within RNS or clearly indicated it is my opinion.

Please also note - I have also made reference to latest RNS wording - which I assume is more aligned with EUA's latest position/situation - as I am sure you agree things do change with time.

And finally - I would like to think I have not 'lost the point entirely' when I am only referring to EUA's RNS wording after which I have given my interpretation of the wording - which I have made clear may differ from yours.

As I shall recapitulate, taken from EUA RNS dated 11 April 2023:

Possible sale of Russian assets

The Company continues to consider options for the sale of all of Eurasia's interests in Russia.

This is the position I understand until EUA state otherwise.

Mr Mac,

Please note - as you have posted the two paragraph from the section headed 'possible sale of Russian assets' from the RNS issued on 11 April, EUA only made one statement concerning what the company is actively doing concerning the possible sale. That full statement is, 'The Company continues to consider options for the sale of all of Eurasia's interests in Russia'.

The rest of the paragraphs detailed what the board acknowledges, their frustration, and possible future updates - but only ONE statement on what they are actively doing - so my wording is not selective - they are the only words I can use from EUA concerning their activities associated with the sale process.

So, I again take my wording directly from the released RNS, that the COMPANY still 'continues to consider options' and they have not informed us of anything else recently that they are doing associated with the sale process.

Opinions of what such statements means are more than welcome - as that's nearly the only reason I bother with such a discussion board - if nobody posted opinions then little point of the discussion board.

Your opinion is that they are 'selling multiple assets', my opinion is that they are considering the options for the sale of multiple assets.

My interpretation of the above statement 'continues to consider options', for me indicates the sale process is probably not as advanced as you have describe in your earlier post. The wording used by EUA gives me the opinion of a backward movement from where EUA was at the 28th Oct 2021 when they openly used the words 'the Buyer' in the RNS. The word 'Buyer' is not now used.

RNS dated 21 Dec 2022 made a general reference to potential buyers, this again gives me the opinion of a backward step.

Other peoples opinions are also welcome - and I encourage - as that's is why I think we are here - and also to hear the odd joke from Mr Tillywhiz normally posted during the weekend.

Mr Oldspursfan - your words 'Let's see if the wording changes at all in the annual report' also reflect my words - lets see if the word 'Buyer' makes a re-appearance in AR or the next few RNSs.

Mr Mac,

I have only quoted what EUA stated they are doing in the RNS dated 11 April 23.

It is THEIR wording addressing what they are doing - not my interpretation.

If you disagree with what they are doing or what they say they are doing - please raise with them.

Mr Mac,

for meticulousness, the COMPANY stated in RNS that '. . The Company continues to consider options for the sale. . .', therefore Its the CONSIDERATION of the options for sale we know they are working on.