Member Info for GingerHippo

Actually we don’t have to agree to disagree. What you’re saying is simply incorrect. Please refer to the accounting treatment per IFRS.

It wouldn’t go on the balance sheet because MT would be gone by the time we came to the year end. But the principle is that the asset value would be the value of the offer. This is obvious and self evident, and what the accounting treatment would dictate.

Tbh, I’m trying to be polite here, but I think you know what you’re saying is nonsense.

Billions.....

If MT is sold for billions that will be its asset value, not cost.

It’s common sense, but feel free to look through the relevant IFRS for confirmation.

Shorters be like:

There’s 22.6M oz at MT, but let’s only look at 2M of them. And Pd price is $2600 but let’s assume it’s €1500.
So 1M x $1200 is $1.2Bn but let’s call it $1Bn.
Eua only owns 80% so let’s call that $0.5Bn.
Take 10% in situ value so that’s only $40M which is only 0.5p per share.
And the rampers will shout abuse at me for having a different opinion.

Agricore that was hilarious.

I’ve got a great book for you to read:
https://www.amazon.co.uk/dp/1789083095/ref=cm_sw_r_cp_awdb_imm_0WHQ5Q2353RH2REEZKE9

Worth adding - if Hibiscus don't pay the $2.85M, United retain ownership of the licence asset, and keep the initial $950K.

100%. It was obviously going to happen.

But anyone who said so was labelled a "troll" by rampers who have their own agendas (who have bene doing this since over 1p)

“ I don't get upset by such events, just pis sed off ”

With logic like that who needs derampers?

Yeah I will filter. Got no time for cry babies.

Crumbs. I stay away from the board a couple fo weeks days and look what I find when I come back! Perhaps people have forgotten why they bought in the first place.

This is not some pump and dump AIM O&G play. This is the real deal.

Expected boepd for 2021 circa 2600. That gives net revenue to UOG of about $25M and net profit of about £8.5M.

Industry average PE ratio is 16. So the share price ought to be about 22p this time next year.

Please stop whining that the directors get paid.

Thanks Trift, I'll take another look when I can.

TBH I'm fine with the idea of Tesla having an offtake agreement with the JV part (although they're far from the only people who need what we have). The bit that bothers me is people insisting they're involved in MT in some way, which I highly doubt and I suspect ppl are saying it to try and stir additional intrigue, which we do not need.

Mac, of course the increase in demand is good for PGM outlook.

That's not the bit I have a problem with.

I certainly hope MT is sold long before Tesla start building a plant in Russia though.

Trift, I just searched in the transcript of the interview and Tesla were NOT mentioned.

As far as I know Tesla doesn't own any mines at all atm. They tried and failed to buy a Lithium mine a while ago. So naturally they're going to buy a PGM mine in a country where they don't even operate yet?! It's nonsensical conjecture of the highest order.

And why on earth do people want Elon to be connected to EUA anyway? Look what happened with his involvement with crypto. We don't need this.

Elon building a plant in Russia doesn't mean he's buying a mine in Russia. There is no connection between the two things. And the completely unsubstantiated suggestion that it does does not serve us well.

No.

I don't see any connection between the this and EUA, and I think it's dangerous to suggest one.

Erm, BR bought most of their shares for over 40p.

More than 32M bought for over 40p compared to the last known amount of just over 38M.

HappyScot, MMs are short quite a lot of the time. That's how the system works.

Don't forget that it's often the MMs themselves that are short.

"Even if the sale is 60p, net dividend will be a third of that imo."

Sure. Presumably the BoD are planning to spend the extra £1.1Bn on the partay...........

The bashers do make me laugh sometimes.

The BoD have clearly followed through with their strategy and I'm confident they will continue to do so.

The EGM RNS said "The Directors are confident that the ability to allot securities and demonstrate a capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company"

Now that has been done, this morning's RNS said: :" The net proceeds of the placing are intended to be used primarily to finance the joint venture with Rosgeo."

And: "The Board is confident that this strategic financing allows us to take Rosgeo JV to the next level, while Eurasia and its advisers are focused on advancing our strategy as announced on 12 May 2021."

So I'm inclined to believe them when they say (in the Rosgeo RNS) "we are going to roll out the EPCF structure we put in place for Monchetundra to the Additional Assets significantly strengthening our position in the open pit PGM and battery metals district of Kola"

.
Another point regarding Japan:

EGM RNS: "The Directors also welcome aboard Tamerlan Abdikeev as our new Non-Executive Director and the head of Eurasia in Japan, who has already added significant value by bringing interested parties from Japan"

Today's RNS: "Director Tamerlan Abdikeev's experience with Japanese EPC contractors, opens new doors."

.
Take the two together and what do you get? We were in an FSP to sell the company, then Rosgeo came along and is so huge that we wanted to pursue that. So we've come out of the FSP to sell MT only. Now we need to finance our bit to drawn down the EPCF from a Japanese partner and get to work on the JVs.

104.6M oz of Pt @$1200 is worth $125.5Bn
Which is about £88Bn
Of which we have currently 75%, so that's about £66Bn
Taking 9.5% as in-situ value that's worth about £6.3Bn
That's something like £2.20 a share.

Fun times ahead.