Member Info for GingerHippo

The more I think about it the more impressed I am by our new chair. He's a very senior banker. Such people don't join rubbish.

Max 64 days left till IM.

That's not a defence. We all know this and incorporated it into our calculations.

Of course the margin of error is quite wide here, but even ultra conservative calculations put us at multiples of our current market cap.

The fellow in question has been on my filter list for a year. Is it normal to continually bash a company you are not invested in for a year? I think not. Ergo, IMO such a person is either short, paid to bash or crazy.

@Arsenalles, don't bother asking a deramper for calculations. We've been asking for over 2 years now and none have been provided.

Mile and Twiggy, as I said on a different thread, it is a big assumption to say they must have seen the JORC reports.

DD means going out there and checking it out for yourself, not relying on anybody else's work.

Let's try making that readable:

The Company conducted a rigorous and wide-ranging selection process to ensure that it appoints THE STRONGEST POSSIBLE CANDIDATE to lead the business through its next stage of growth. ---(GH: we had loads of great candidates, that’s why it took so long, but we’ve now got someone really good)

….. including BP, Bank of Scotland and Lloyd's Banking Group Plc, where he served most recently as Group Financial Controller and Deputy Group Finance Director, ---(GH: I get it, he knows banking….)--- …... He currently serves as a Non-Executive Director and Audit Chair of HSBC UK Bank Plc and M&S Bank Plc ---–(GH: I make that 4 big banks he’s worked for)----- …. as well as serving as Senior Independent Director on the board of Honeycomb Investment Trust Plc ---(GH: so he knows investments)----- and Audit and Risk Chair at Scottish Water ---(GH: so he knows what fraud, and this ain’t that).

Mr Coyle qualified as a Chartered Accountant with KPMG. ---(GH: OK OK he knows his stuff…)

…… His counsel, expertise and network of CONTACTS will be invaluable as we embark on an exciting new stage in Supply@ME's growth. ---(GH: yeah, contact are extremely valuable right about now)

….. This is a great opportunity to work with a business with a unique model ---(GH: he’s been there done that, but SYME is a great opportunity)---.… we are well positioned for the years ahead ---(GH: he would have been convinced of that before taking the job).---- I am looking forward….. providing a MUCH-NEEDED financing solution to SMEs GLOBALLY. ---(GH: you can say that again, and I suspect he will....).

The Company conducted a rigorous and wide-ranging selection process to ensure that it appoints THE STRONGEST POSSIBLE CANDIDATE to lead the business through its next stage of growth. ---(GH: we had loads of great candidates, that’s why it took so long, but we’ve now got someone really good)
….. including BP, Bank of Scotland and Lloyd's Banking Group Plc, where he served most recently as Group Financial Controller and Deputy Group Finance Director, ---(GH: I get it, he knows banking….)--- …... He currently serves as a Non-Executive Director and Audit Chair of HSBC UK Bank Plc and M&S Bank Plc ---–(GH: I make that 4 big banks he’s worked for)----- …. as well as serving as Senior Independent Director on the board of Honeycomb Investment Trust Plc ---(GH: so he knows investments)----- and Audit and Risk Chair at Scottish Water ---(GH: so he knows what fraud, and this ain’t that).
Mr Coyle qualified as a Chartered Accountant with KPMG. ---(GH: OK OK he knows his stuff…)
…… His counsel, expertise and network of CONTACTS will be invaluable as we embark on an exciting new stage in Supply@ME's growth. ---(GH: yeah, contact are extremely valuable right about now)
….. This is a great opportunity to work with a business with a unique model ---(GH: he’s been there done that, but SYME is a great opportunity)---.… we are well positioned for the years ahead ---(GH: he would have been convinced of that before taking the job).---- I am looking forward….. providing a MUCH-NEEDED financing solution to SMEs GLOBALLY. ---(GH: you can say that again, and I suspect he will....).

From today’s RNS:

the Buyer has informed Eurasia IN WRITING that it has successfully completed its due diligence. ---(GH: imo a proposal must include an offer amount, so we now have an offer figure, the buyer is happy to go ahead and we agree that they are a credible bidder. What’s left to do?)

As announced via RNS on 30 September 2021, since the receipt of the Proposal in May for the potential acquisition of substantially all of the Company's assets, additional interest from other parties is being considered by the Board. ---(GH: despite having an offer more or less in the bag, we are considering others offers. Must be better offers than the proposal or we wouldn’t be wasting our time)

It is the Board's intention to advance several options with advice from UBS, DLA Piper and other advisers. ---(GH: AKA bidding war)

Christian Schaffalitzky… commented: The Directors are delighted that we are advancing several transactions concurrently.---(GH: bidding war)--- We see COMPETITION for Nickel-Copper-PGM assets… increasing on a global scale. ---(GH: we are in demand. Lots of companies need these assets are are fighting over them)

James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "We are advancing our development projects to production ---(GH: that’s new. Good. Let’s get moving on every front), increasing production on our operating mines adding value to Eurasia ---(GH: don’t forget about good ol’ WK), while also focusing on other strategic options that are progressing well. ---(GH: we have so many options we can’t even decide which of these brilliant options we should choose. Thank goodness we have UBS guide us. Remember when we were excited about Citic…? Yeah, me neither.)

This was a good thread to find people that need to be filtered.

Indeed. That was at -3%. Now we're at -7% and various posters seem to be losing it I thought it was worth saying again.

I expect I'll be posting it a few more times before the next RNS lands.....

It's simply ridiculous to lose ones head at the moment. Like I said, this could not be spelt out any more clearly by the BoD. People who need their hands held should not be investing in anything at all IMO.

From RNS - Summary highlights of 2021 to date

· Agreement with Rosgeo CONCLUDED in March to form a GLOBALLY SIGNIFICANT battery metals and PGM district on the Kola Peninsula, positioning Eurasia AMONG MAJORS (GH: we’re going to be big enough to see demand from all over the world. The term ‘among majors’ is ambiguous, but the 50 biggest miners in the world all have market caps in excess of $6Bn).

· Wardell Armstrong International engaged in April for SEVERAL COMPREHENSIVE TASKS including JORC resource audits which are almost complete and are EXPECTED TO BE ANNOUNCED SHORTLY (GH: we can argue about the use of shortly all day, but one thing is clear, IT IS COMING AT SOME POINT. It says “audits which are” in the plural, so I reckon it’s going to be big WHEN (not if) it is announced).

· PROPOSAL RECEIVED in May for the potential acquisition of substantially all of the Company's assets. Since then, ADDITIONAL INTEREST from other parties is BEING CONSIDERED by the Board (GH: at least one company made an offer that was good enough for us to exit the FSP, and since then we’ve had interest that is even better than said proposal. They couldn’t have said bidding war any more clearly without using those actual words).

· Eurasia is now FULLY FUNDED to fulfil its COMMITMENTS in relation to the Rosgeo JV (GH: the legally binding agreement has been signed and we now have enough cash to complete it. THIS IS HAPPENING. I don’t know when, but it is happening. Like queueing for a ride at Disney Land, I don’t know how long the queue is, but I know that if I stay in the queue I will at some point find myself on the ride).

We concluded a company transformational, legally binding agreement with Rosgeo covering 9 projects which…. form a globally significant battery metals and PGM district on the Kola Peninsula, positioning our Company among majors (GH: we were at about £0.5Bn market cap before the JV and that is said to be transformational. When CEOs use that word they usually mean a SIGNIFICANT step up. What do you think a significant step up for a £0.5Bn company looks like? Stay tuned, I reckon we’re about to find out).

From RNS - Summary highlights of 2021 to date

· Agreement with Rosgeo CONCLUDED in March to form a GLOBALLY SIGNIFICANT battery metals and PGM district on the Kola Peninsula, positioning Eurasia AMONG MAJORS (GH: we’re going to be big enough to see demand from all over the world. The term ‘among majors’ is ambiguous, but the 50 biggest miners in the world all have market caps in excess of $6Bn. Just wondering how many here have heard of the likes of Lundin Mining founded in 1994; Evolution Mining founded in 2011; Koza Gold founded in 1989 etc etc. Loads of companies founded around the same time as EUA with market caps in the billions and even they would probably not be included in a list of “majors” imo).

· Wardell Armstrong International engaged in April for SEVERAL COMPREHENSIVE TASKS including JORC resource audits which are almost complete and are EXPECTED TO BE ANNOUNCED SHORTLY (GH: we can argue about the use of shortly all day, but one thing is clear, IT IS COMING AT SOME POINT. It says “audits which are” in the plural, so I reckon it’s going to be big WHEN (not if) it is announced).

· PROPOSAL RECEIVED in May for the potential acquisition of substantially all of the Company's assets. Since then, ADDITIONAL INTEREST from other parties is BEING CONSIDERED by the Board (GH: at least one company made an offer that was good enough for us to exit the FSP, and since then we’ve had interest that is even better than said proposal. They couldn’t have said bidding war any more clearly without using those actual words.)

· Eurasia is now FULLY FUNDED to fulfil its COMMITMENTS in relation to the Rosgeo JV (GH: the legally binding agreement has been signed and we now have enough cash to complete it. THIS IS HAPPENING. I don’t know when, but it is happening. Like queueing for a ride at Disney Land, I don’t know how long the queue is, but I know that if I stay in the queue I will at some point find myself on the ride)

We concluded a company transformational, legally binding agreement with Rosgeo covering 9 projects which…. form a globally significant battery metals and PGM district on the Kola Peninsula, positioning our Company among majors (GH: we were at about £0.5Bn market cap before the JV and that is said to be transformational. When CEOs use that word they usually mean a SIGNIFICANT step up. What do you think a significant step up for a £0.5Bn company looks like? Stay tuned, I reckon we’re about to find out.)

TBH I don't see the value of an RNS confirming that negotiations are continuing. That would be pointless and look desperate (which we are not). If something changes we would have an RNS, so in the absence of news, you have to rely on the latest statement from the Bod, which clearly say that they are considering an offer as well as additional interest.

That is what we know. Repeating it in an RNS would not be helpful IMO. I understand the frustration, but try to look at it logically.

"Why raise money at 20 odd pence when great riches are coming shortly"

Because they needed the cash to complete on the JV and pay for the Jorc audit. As stated in the RNS.

To my mind, this points to us selling the JV once completed. But we needed cash sooner than the sale in order to complete on the JV.

It's actually not difficult to understand. So while it sounds like a great question, when you think about it for even 1 minute you realise it's not.

"The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly."

Lololol, allow me to paraphrase what was said, OP.

"I haven't sold any because I want to sell for higher. Oh and btw the next RNS will cause the price to go down."

This makes no sense whatsoever, mate.

Best of luck with your trading strategy (if that's the right word)............

Kev, I clicked reply to read the original comment.

It was filtered.

I haven't filtered anyone for about a year.

Ergo, this fellow has been deramping for a long time.

Ignore and filter.

I'm not a fan of shorting but I'm also not a fan of government making restrictions on the free market.

My guess is after hours next Friday (29th), but i won't go crazy it's not announced by then.

Bear in mind that we have several heavy-hitters on the BoD and as advisers.

There is no point having them on board if they don't do anything. Hence, they will all contribute to every stage. This takes additional time, but is well worth it. Trust them.

The interims said the reports were "almost complete". That was a week after the first mention of shortly (in this context) in the RNS on 24/09/21.

So clearly shortly doesn't mean the repot is finished and therefore will be released any time. It means it needs to be finished off the JORC auditors first.

I'm not a geologist but I would imagine that even when the report is finished there will be a great deal of checking before the final report is sent to the client. Then EUA BoD (from different countries) will need to discuss it, as well as with the advisers. Then the RNS needs to be written and approved.

So all that will for sure take time. How long I can't say, but people who saw the word "shortly" and thought in terms of days were being silly, and that silliness has come back to bite them in the form of frustration.

Yes, I'm sure what I mentioned above would be an on-going process and not only started after the report is finished, but you would definitely want to discuss with everyone involved when you have the final report, and you definitely would want to check it very very carefully.

Thatks 1stTL for exaplaining what I have run out of patience to explain.

Apart from the fact that if these these highly expereinced professionals wanted to break the law they would have done it a year ago and not bothered with the Rosgeo JV. Oh, and UBS, DLA Piper etc etc would also have to be in on it because they would have a legal duty to report it.

Accusation of this magnitude frankly sit next to flat-earthers and ppl who say the US faked the moon landing.