Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Another thing you will notice Bill is that normally after an RNS over the last few years the share price rises a little and then actually falls below the pre RNS SP. This is also normal with EUZ and accepted by long term holders, however we get nervous when a rare RNS drops because we know our investment will reduce a little. On a positive this didn't happen this time as it rose and stayed above the sub 3's prior to the RNS.
Hopefully a sign that we have convinced another 3 or 4 private investors that this may go somewhere in 3 to 4 year time.
Bill, the day when the RNS landed was a freak day for trades. Over the last 2 years there's only being 2 or 3 days where we've hit double digit trades. The average over this period is 3 to 4 trades a day. This is quite normal for EUZ.
Yesterday and seeing new posters that have come and gone was exciting and I think we all can breath I sigh of relief for 60 days at least. Come Monday we will be back to BAU of maybe 1 or 2 posts and 1 or 2 trades per day. GLA
For the record I'm not been negative below and Myles has done a good job getting this over the line (if signed in 60 days)
I don't think he had any leverage and choice. It was either sign or lose everything. Unfortunately the deal has come 18 months maybe more too late but he has done it.
It would be interesting to know what LR thinks of this. I always said Bennelong were just taking a punt and knew that they would have no involvement in the day to day running of EUZ. For them it was a 100/1 outsider that fell at the first fence.
I will continue to hold my current stock. I've not bought any EUZ this year and glad I've not got suckered into doing so. If the RNS would have been AIM rule 15 for RTO I would have lumped in to average down in the hope that there would have been some SP volatility to sell to try and get close to breaking even.
Personally I don't think we will get to my average of around 11p to 12p in the next 5 years (maybe after that). I think there will be an increase maybe back end of 2023 and 2024 to around 7p to 8p max but not into the 10's. 9p would be a trigger point for me to sell everything in my ISA. With regards to my SIPP I'm willing to wait after the 5 years in the hope we will get to the magic 12p.
Think I said yesterday if the deal goes through our new % share is so small that the dreams of 5, 10 & crazy 20 bags has gone when we sign on the dotted line.
As they say "Beggars can't be choosy"
If in 60 days this doesn't go through I can imagine the pot will be dry. I just hope there's a few pennies left to get us to Aim Rule 15 or we would be properly stuffed. Anyway lets hope it does go through and we don't have to worry about the latter.
It's a shame this couldn't have been accomplished 18 months ago. Denarius played a shrewd game and waited until we were on our knees with a begging bowl to be saved. This allowed them to swoop in and get the asset for peanuts. But peanuts is better than nothing.
It will be interesting to see if we will benefit more from this or the RTO I was semi hoping for.
Well I was 3 weeks out on predicting the JV or aim rule 15 but happy with the potential JV and we always knew it would be bargain basement due to our desperation to secure funding. I don’t expect any great increase in SP for this year but 2023 to 2024 could see a change. I don’t see the 10 or 20 bagger as we all dreamed of as LTH but hopefully we will recoup our losses and break even or hopefully a small profit. It’s better than going under however I still think an RTO would have resulted in a shorter term increase in the SP.
EarlofAim you've come from out of nowhere and not knowing any history on EUZ. Go and do your homework before spouting nonsense. Read the chat history and RNS's and do some research. Send Myles an email he's normally happy to answer reasonable questions. Don't be a lazy boy.
It's not done yet EarlofAim but when you have been a long term holder like myself, sheds, moneymaker, Teaye, Numpty and others this is very welcome news. Yes there's no guarantee but at least Myles and the Team having been working to this.
MM i think its a fair statement and nothing can be guaranteed and I'm happy they have stated that. We have lived through vague value event RNS's so I'm happy for the change and transparency. Maybe we could become that Grown Up company Lawrence once talked about.