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I was getting quite excited until i got to the bit "Specifically the drilling deviation correction technique".
i had hoped they were talking about the Toral project in general.

No idea what a PHF is :-) maybe a PFS for dyslexics

What am saying is we know of about £250k savings since they said they were funded for a year, maybe more as WA are obviously not preparing the PHF either. Its quite possible that the extended deep drill was not in the calculation however there has been no effort to get the SP up which you might expect if a placing was imminent. who knows ? and there's the Rub, it could announce a JV tomorrow and rocket or it could just as easily go bust, much like any other day in the last 4 years :-)

Bricks
Firstly i am not disagreeing with you.
Its very hard to see how they could get another placing away without some sort of guarantee it will result in a return this time. Its hard to see how they could raise enough to get them to a return and if they have info that a return is even possible then they would be obliged to share that before hand and get the SP up before they did the placing.
We just have to trust that they are carrying on now because they have and end game and are not just going through the motions till the cash runs out.
they said they were financed till Oct. since then they have lost the CEO so saved about £100k + his expenses which were about £60k. They have also saved on 50% of two other wages (is it 2?) so poss another £75k.
This assumes MC is not taking LR's wage while doing his job which it didnt appear he was doing in the recent shares for wages issue.
Its possible they are funded well beyond Oct but only a back of a fag packet guess ?

It does look like a very good scheme MM but do you know what the time frame is for selection and presumably presentation etc?

Better ring your Broker in the morning Bricks :-)

Probably a lot more than 150k MM because if they actually wanted to sell they would get way under the bid for any quantity.

Please dont come here blaming sentiment of holders...lol .. Quite frankly ,who believes and who doesnt here is completely immaterial because if the SP rises or falls it will not have anything to do with current holders sentiment, in fact whatever the sentiment, you have current holders to thank that this is even still alive. Most LTH have been diluted 4-5 times and thats for Toral now , not Moonlight 5-10 years ago. The SP is nothing to do with holders sentiment its to do with the sentiment of prospective buyers, we have all pinned our allegiance to the mast already. Its prospective buyers that look at the chart, read the accounts, try and find a clue to when they might get their money back and decide to sit back a watch.
Sentiment is almost entirely down to the fact we are about to run out of money and a placing would not only dilute everyone 50% it would raise barely enough to probably wind this up and settle the redundancies.
For that reason the long promised non dilutive funding is now imperative.

I think if you spent the last 5 years trying to prove up a zinc, lead and silver resource and it comes down to needing to find copper in viable quantities to prop up your original target then we have a problem. Of course its a bonus if you do have Copper but at this stage it really shouldn't be about copper and in my view it isn't. It doesnt really feature on the recent updates or the jorc. EUZ needs or at least should be able to stand in the market a a zinc,lead,silver resource which is what it set out to do. I dont think it makes sense to say a copper deposit would push the SP up 400% ? what does that say about the zinc/lead/silver deposits..

The tragedy is the only reason we are even discussing these possibilities is because once again we find ourselves with no idea of the plan, if there is a plan, no idea of the bigger picture, why Bennelong got involved, why LR jumped ship, why the broker change, whether they are looking for a new CEO, why they want a new project, Why they hired that banker last year or why they hired a company to oversea the PFS then said a PFS was not funded. You could write pages on it but bottom line is we dont know, we will not be told and consequently the SP has been plummeting for 5 years :-)
Even shed is sulking in his shed :-) Time to forget about this now IMHO.

Ha ha, dont get me wrong Bricks, i personally think just one more placing will be catastrophic in fact I would rather see it wound up than stagger on another couple of months while those in the know go into damage limitation and the rest of us are left with nothing. a small placing , because thats all they could do, might raise enough to pay off wages and redundancies before they fold anyway.

I think its very easy to be cynical Bricks and i am more guilty of that than most ( you told me so on many occasions :-) ) but the timing of the issues says they are mostly at a point when they predicted the cash would run out, e: last October they said they were funded for 12months so whatever the SP i expect they will need funding by this October.
Last years funding was different in that they got in with weeks to spare before their annual allowance of 50% dilution expired.
Of all the **** ups here i dont think shares for mates figures strongly, i think they are bloody lucky to get these placings away at any price given the history here. As i said the other day i very much doubt people like Bennelong go in with just £350k as a purely financial move, especially when at the time there was £1.5m worth available.

Maybe those who have seen that EUA has run its course are looking elsewhere MM :-)

MM
The sceptic in me thinks that corporate investors invest not for the chance of making a few bob on their public investment ,
I am sure the behind the scene deals that revolve round "propping this up" or " supporting that director" and so on are far more advantageous than the financial outlays .As Shed said at the time he was sure that DB's accountants had done their DD at 12p..lol
What we see from DB and Bennelong could be just a small % of the full deal that is working very well for them behind the scenes for all we know ? :-) I certainly doubt Bennelong put £300k in this just as a financial investment.
Remember these placings are not rights issues, they are deals done behind closed doors between brokers at large discounts, the "investor" knows the opening SP will be down at his discount price but i doubt thats going to bother them too much ...work it out for yourself :-)

lor_9
I have just let it run TBH, i dont invest anymore in the markets since i started my own business, win or lose on this it will not be life changing :-) and most of us from the old days are on a free ride anyway as FCR/Moonlight went bust and this was salvaged from the wreckage.
I have sold and bought a few along the way but whenever i have bought its been a mistake as the management do love to kick the small investors when they are down and its taken me a long time to remind myself whenever i feel optimistic "dont do it ...you WLL be diluted and you WILL lose half" lol
Now i spend my days dealing with italian businesses who really dont care if they sell anything or not, shut down for most of July and August and regard most Englishmen as fools :-) its a funny old world :-)
Hope you are doing well .

Ha ha you're in denial as well, thats a classic sign :-)

" if I didn't believe I'd be gone whatever the loss."
Of course you would Shed :-)
If only life was that simple, companies like this would never exist because the only real attraction in these early years to stay invested is "Fear of missing out".
Did you know 45mmillion people in the UK, 70% of those over 18 ears of age, do the lottery. they too have no real expectation of a return, Every village hall bingo, Raffle and tombola, every online gambling company, every pub slot machine have odds stacked against you. I think the odds on these AIM companies are about 75% against. People once invested are then trapped by FOMO. the next spin of the wheels will be the one. or i i have done these same numbers every week for 10 years, if i miss a week and they come up...... and so on.
People "top up" or "Average down" when they are losing, its the same as the slot machine...another couple of spins, its due to pay out !!
"if I didn't believe I'd be gone whatever the loss" are brave words but huge industries, turn over billions because people hang on long after they stopped believing because of FOMO. :-)

Then what ?

Remind me, what game changing event are we waiting for now ?

If its any compensation Grappa, i would love to say we are going to overtake EUA soon but the truth is they are going to undertake us :-)