RE: Any Updates27 May 2020 15:04
Hi Lee,
I’ve been holding shares in EUA since April 2018 so am fairly familiar with the company and operations but there are better people to answer this than me however:-
- the announcement today means that we are no longer at risk of delisting as you will no doubt know.
- appointment of an M and A specialist with the level of expertise that brings as a non exec director is amazing.
- WK is an ongoing source of income and I’m sure will be proved soon, you may have missed that previously we sub-contracted the mining out and took a low percentage (30%) of the profits, we now how our own plant, machinery and staff so take 100% of profits therefore to a point ignore past accounts.
- we have license approval to expand mining at WK but this hasn’t yet been announced, Alex found some links and posted earlier this week / late last week.
- we are waiting for flanks license approval for MT, this has an estimated 15m Oz of PGM’s and has been valued at circa $1.5Bil, I believe we own 80% of this site and taking into account the exchange rate for $ to £ and our 2.9b shares we are probably looking at cash injection into the company of circa 35p per share or so. That may translate as a special dividend and is what I’m expecting.
- new Non Exec Director is likely to be onboard to facilitate that sale of asset or a wider company sale, time will tell.
- in essence all we need now is flanks license and whatever offers to be put forward, I don’t imagine this will be long.
Depending on how long you have been on the board you may be aware that certain people here enjoy scaring other holders with all sorts of rubbish, feel free to ignore me but I would take that with a pinch of salt and do your own research before letting your hard earned shares go too quickly. There is one chap here who has spent the last few weeks wetting the bed at the prospect of us being delisted, avoid him if you can, the more educated tried to pacify him but often children can’t be consoled!
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