Member Info for Highside

I think when looking at delays and missed dates we have to consider that we did lose out project manager at the end of Jan.
In theory he wasnt replaced, Technically his CEO position was filled but we really dont know if anyone is actually progressing the project in a priority at the moment. The plus side is we are saving money but the minus is we maybe in partial limbo. We dont know that Miles has the time, inclination or expertise to progress this with the onsite presence we had with LR

What i am saying is EUZ doesnt lose its value if it gave up tomorrow because the real value is in the knowledge gained which would be worth several times the current Mkt cap to a new operation.

if the bought out knowledge.
if they bought our knowledge i mean.

No excuse but my typing is never good and now the letters have worn off the buttons its getting worse as i get it wrong and auto correct makes it even worse :-)

On the above though, we were never supposed to be a mining company so the original model was probably based on the value of the asset based on the data collected so maybe the expiry of a licence it not a disaster if we own the lease and the data........how long is the lease ?

I know it just nonsense but if the licence ran out we would be sitting on a data base for the Toral area worth prob 5x the value of the company based on its cost so far and anyone who picked up the baton with toral could save themselves 4 years and a lot of money if the bought out knowledge.

I find it incredibly frustrating that as investors and owners of the company we really dont know what the plan is. We dont know why LR left with no warning, we dont know why they were looking at another project despite having no money and we dont know what the options for funding are past 2-3 months. They always say you need to keep your investors on side and yet the volumes show its not just Bricks who has lost faith. The SP has been in decline since day one of Torral and no one at EUZ towers seems to give a flying F""".

Its catch 22 Bricks. Companies like this need people like us that "get in too early" or they would never get off the drawing board. The problem arises when the company then do not reward that early confidence by then diluting their backers in favour of outside investment. Normally you might expect to be kept afloat with your investment at least in part with discounted share and rights issues, however here we have been swept aside in favour of anyone who thinks they might cash in on the work we have already sponsored. Is very short sighted as companies like this will struggle in future because why should anyone bother to help them until a return is imminent.?
That said, many here have learned a hard lesson and lost a lot of money but it will not stop those blinded by future stories of great assets and 10 and 20 baggers losing just like we have.

I kind of agree with Shed that its always been high risk and nothing has changed in that respect but the down side of what we dont know is now towering above what we do know IMHO

9769 years approx. Feels like we have been waiting half that time already.... :-)

rubber dinghy's work well....

Probably questions for MC rather than this chat room but i agree that putting them here might jog them out of their slumber :-) Its been said many times that the lack of info and urgency has played a big part in this being a turn off for investors. Nothing much has changed.

The program was actually "Abandoned engineering" I think the temp was about 200c they snapped the drill at 8000ft and had to start again :-)
https://www.quickanddirtytips.com/education/science/deepest-hole

interesting prog on Dave last night where the Russians drilled a hole and got to 40,000 ft and gave up because the rock became to mushy

Actually they would be almost lucky and come out just off the east coast of NZ . I think only about 2.5% of holes drilled on land would come out the other side on land. My fear would be the bigger the hole the more likely they are to fall in it.

ah i see what you are getting at.
when i said its always been make it upas you go along, that wasnt a criticism, as you say all options had to be left on the table without a commitment to one in particular. I was just saying that way forward, however necessary has not helped us.
I know what you mean re: the SS but for me i was the" grown up company thing" and consolidation when we all knew the real reason was they couldn't place any more at fractions of a penny.
I think for the new holders it will be the "need another project" when they had no real idea how to fund this one.
I expect others will have their on peeve :-)

I am simply saying the plan is up in the air and has always been pretty much open ended. I am not debating the rights or wrongs of that, just stating a fact. Of course you dont shut doors before you pass through them I'm not sure what you are saying. If we are looking for a future path or a reason the SP is where it is and the lack of interest in this from day one then the fact that its always been up in the air with an open ended time scale is one reason. I am sure there are many more but....
Once we have a clear target, a clear goal an achievable objective i am sure people will be more interested, One thing this stock has made clear is people need a medium term exit strategy before they dive in and anything else is probably best left to pension investors and policies.

I mean a plan as in to build a mine or prove it up and sell ...or JV to finish the proving up.
I agree there have been specific work streams as i said however the end goal was always (and still is) up in the air.

To be fair i dont think we have ever known what the plan was or is. Its always been make it as you go along. Yes there have been strategic directions and work paths but the bigger picture has always been up in the Sky. will we find out now ? I dont know but the day must be getting closer.

One other small point crisps
If the risk of dilution is high ? why not sell and buy back at half price after ?
The answer is you should know that they can only place 50% of the current total in issue and with a discount based on previous that would not really be worth the costs.... or might buy then 4-5 months tops.

Not often i vote a shed post up :-)
Crisps
10 years ago, we invested in an iron ore mine at a time when China was crying out for ore. We had a proven resource, government backing,, an offtake agreement, infrastructure sorted and a funded PFS....And you wonder why people invested ?
Those off us still here from those days were mostly on a free ride as FCR went to the wall and our shares were dumped into Toral, had then ot they would have been lost
Once again you display an alarming disregard for facts and what has gone on here seeking to blame a few when you yourself plainly got in way too early.

I have a slight worry that someone is waiting to snap this up for a pittance if the money dries up... however on the same reasoning if this is really all its put up to be, the people waiting for it to run out of money would be desperate not to lose it to a good offer before it runs out of money....?

Well i know what i mean :-)

"Think it's just you and me left Mm's :) "
Sorry to disappoint you Shed :-)
Just wondering if we get the drill results, metallurgy and a clean mine go ahead etc , what is the next phase ?
My guess is these will have to be the key to funding or we will grind to a halt.....
Personally i dont see grinding to a halt as much of an option which is why i think a lot rests on the afore mentioned.
If they were correct last October and they were funded for 12 months we still have 5 months of funding which seems a little optimistic however we dont know what they already had in the coffers at the last 1.5m raise so its quite possible.
I think its fair to say the next 3-4 months therefore will be make or break.
Lets hope that someone somewhere still wants to invest without fear of some stupid windfall tax while a recession is looming and interest rates are about to take off.