Member Info for Highside

I will cheer you up shed :-)

Maybe the group that had expressed an interest that fell through that Myles had mooted a while back said we have put this on hold till we get mets and these further deep drills. And...thats why we never heard any more about it or who it was. :-)
It doesnt explain why LR jumped ship without warning or why they wanted another project but hey...i didnt say there weren't holes in the idea :-)

Knowing how Spain basically shuts for August and knowing we are running behind earlier quoted schedules i would think Q4 is more than likely.

I dont think they can do a dilutive raise now.
at 3p at a discount of 30% they could place at 2p, 50% of the Mkt cap. 80m shares at 2p would be £1.6m so 800k less costs i suspect they would be pushed to raise £600k/650k ? and thats always depending they could actually place them and get them away.
Personally i think it must now depend on the drill results and any deal tied in with them.

Well once again my attempts at humour have fallen flat :-)
Never mind, we are all wired differently. The ADVFN EUZ thread has had 3 posts since Feb which speaks volumes so i cancelled my subs there this morning. i only have a free account here so i will let it run but TBH its hard to think of anything to say about this anymore. Maybe Myles should reflect on that but them he seems to find it hard to find much to say as well :-)

I would agree MM as dozens of main frames chatter away processing the consequences of the data collected by my Tesco club card but digital marketing is something much more likely to effect EUZ when it has something to market :-)

ALERT: customer 18472847 from Netheravon bought a big mac today on his card. He must be a white middle aged heterosexual mail but considering a sex change as he had extra gherkins. knock 3 points off his credit score and offer him membership to the bullingdon club.

Agreed but the SP is as low as it will go because its governed by the Mkt cap i think. They know they have never got the SP up on news. I really think the only news that will shift this will be game changing news, not periodical updates. As i have often said they may be the best ground workers and site managers/geologists in the world but they are and always have been clueless about running a listed company. That's not just sour grapes, thats based on the SP/ Volumes and historical charts, money spent , keeping shareholder involved and returns of EUZ as an investment over the last 5 years........unless anyone can convince me otherwise ? :-)

"They need to engage with shareholders."
Actually , no they dont. The SP is about as low as it can go given the Mkt cap, They have never "engaged" with shareholders with rights issues or management buys. If they raise tomorrow it will not involve the share holders as such other than to kill their investment so far.
As long as they can keep squeezing DB and others like Bennelong who i am sure are kept up to speed they really dont need or have to engage with your average shareholder and TBH, never have over and above the bare required minimum..

I do get that people like social media but its not an official way of sending out news and has never done us any good anyway with volume or SP. LR liked it and the odd presentation but on the back of that his expenses were nearly as much as his wages and never really did us any good either..
I would rather they just shut up now and got on with the job, the sooner they get it done the sooner we can put this to bed and move on ( and never look back)

Ha ha Grappa it needs more than the usual good news mate, that drops the SP :-)

It needs game changing news. a complete reversal of fortunes and a magic money tree...........and even that might not be enough :-). i would like to know the market value of all the data collected so far because thats the value of the company if it folds tomorrow. Trouble is i bet there's a queue of people already who will get first dibs before any shareholders

Yea i get he terminated his contract..............but it makes a mockery of 6 months notice unless he gave 6 months notice and no one told anyone. Maybe he bought himself out of his contract and thats why we seem to be still going with no money :-)

I have set aside this morning to go through this investment in detail, a bit late i know but i am seriously thinking i need to separate what "might" happen with the reality of what has happened.
First thing i noticed was this

6. Executive contractual arrangements
Laurence Read – Chief Executive Officer
Salary £112,000 per annum
Term Ongoing
Termination 6 months notice period by either party
--------------------
Termination 6 months ??

Ah ok i stand corrected
they didnt drill in the wrong place just included and area outside the boundary in the resource estimate. Makes more sense :-)

I remember at the time although i might be wrong that the definition of 4th quarter was disputed,
It was said at the time the SS was late because they had drilled outside the EUZ lease boundary. we were told that SS was delayed because they wanted to enhance/expand the results but really they had drilled in the wrong place

Maybe i am making this up :-)

In fairness nothing has changed. I have been calling out these failings for 10 years. The fact that the latest results are 4 weeks late smacks of the scoping study that was 6 weeks late because they were trying to cover a mess up.
although we like to think we have £1b asset :-) in the mining world without a BFS and more importantly a DFS if they want to progress any talk of mine construction, we dont have anything because we cant comply to the accepted way of proving up for finance.
Set your expectations to Zero, your excitement to zero and your interest here to zero like me ........... and it you will have zero disappointment :-)
Projects like this have a duty to promote themselves. Tell people why they are better than other similar but more advanced and probably financed projects as in the article. Its a competitive world. Be you a pink page investor or a multi million pound company looking to invest you need to be convinced to part with your money by a management wanting to sell a good story. The SP and Volume here over the last 5 years has been diabolical. People dont look at a £2m mkt cap company and think what a bargain, they look and ask why is it only £2m, why has the SP been in decline for 5 years and still declining ? and then realise the management are not selling the story.

I remember i was accused of having sold and trying to drive the price down when i was critical of management :-)
Actually I was also told to F O :-)
My how times change when it suits some people.

Of course i could be completely wrong and often am but the impression i get is we are running on fumes, everything has been cut to the bone, No replacement for LR is a big saving but i suspect we are getting drilling when we can on the cheap, RNS where absolutely necessary and prob admin and office open a day a week. maybe even calling a few favours.
I see us bobbing about in the channel waiting for a lifeboat :-) rather than dressing for super on a passing liner :-)

grappa
Bennelong took a very small stake, i think it was about £380000 of a possible £1.5m raise but i dont think they "take punts". Personally i think they would only have done this to register an interest for whatever reason. Had they been looking to have a strategic influence i think they would have taken a bigger stake and put a man on the board. Maybe they want to be in at the death of EUZ to pick at the remains ? maybe they are even now the link between EUZ and the possible financial saviours ? but if so what's in it for them ?
One thing is for sure the money will run out soon so its either boom or bust by the Autumn i would think.
Keep watching, Who killed JR has nothing on this soap :-)

"perhaps LR won't give them the login? :)"
Or perhaps MC doesnt do Twitter and see's it as a little sinister, controlling and divisive.. :-)

Its not tweets you need its just some basic updates on news already released.
If i was about to get paid in shares i would want the SP as low as poss to get as many shares as i could :-) surely they will have to apply to have those shares admitted to the SE before they get them anyway so cant be selling them.

Dont worry about bennelong, remember DB were more than happy to buy at 12.5p I'm sure their finance dept. knew what they were doing :-)

Only joking..:-)

I have always said that anyone with money will probably sit back and watch all the while the shareholders are footing the bill to move this forward. My worry now is those same people with money might preferer this to go t""s up and buy the remnants cheap than pay anything near the market value. Like anything now i suppose the value relies on there being at least 2 people in the market, if there was just one with money they would have us by the ba"ls.

I have to say i am getting a bit jumpy now with the lack of news/direction/PFS/finance/info and enthusiastic support from Myles. As the financial mess increases in the UK , cashing in even small amount investments is looking more tempting, cash could be king soon.