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I agree it was scheduled for early March but i think we need to forget everything that was said prior to LR's departure as i suspect the Goal post were moved/dismantled or he took his ball home with him :-) after that date.
We are probably deeper in the dark now than ever and we just have to hope for news.
We basically need an update on current progress, strategy for the medium term and of course funding news.
The damage thats been done by throwing another project into the mix is huge IMHO. It ties in with LLR's demise and signals a move in concentration , rightly or wrongly, away from Toral.
What we have now is what i and many others that fell by the wayside over time have been banging on about for ages. No news, no apparent plan and no end game/ target, it all seems to be "make it up as you go along" and the SP reflects this year after year..

Hi Bricks
i really dont see another placing as an option. with any sort of discount applied i think the SP would be so low they would struggle to raise even £750k gross an that is nothing more than short term working capital.
I honestly think they need to either sell this, JV this ,or mothball this and they need to do that before the current cash runs out,
Without some very convincing reassurance from management in the very near future i dont see a future as things stand,

Its an assumption based on the fact that no one is really buying or selling judging by the Volumes and yet we have a falling SP. this tells me that long term holders are just sitting tight neither confident enough to buy more and not willing to take a huge loss.
The resource drilling could not really go ahead while looking for another project is still on the table because there simply isn't the money to do both and we know they were actively looking. I doubt these is actually the money to do either now.

I feel your pain Grappa.
As i have said many times before this is no longer an investment, its a gamble pure and simple. There is a huge difference because one offers Accounts, figures, turn over, statistics and projections /history to which you can asses risks and the other is a bit like the lottery, its pot luck now. As far as i am concerned the hope that Bennelong or anyone else can save this and the relevance of solar powered smelters :-) is just that, hope. The facts you talk of can be summed up in one word. Finance. do we have it? no, will we get it, thats the gamble, nothing else really matters in the short or even immediate.
People hold now for the miracle because of the fear of missing out, does that make a sound investment ?

Quite frankly shed i think its all in your head as i dont have the foggiest what you are on about., I thought my mention of cheese was a light hearted response to your earlier post ?
Any way I'm not much bothered if thats you attitude. What is it you say to others ? dont get so wound up, no ones picking on you.

Phew, sorry I'm late today, too much cheese last night . Such a relief to wake up and find shed hasn't bought Twitter, ,,,nightmare.!!
I dont say they shouldn't release news but LR very rarely had anything new to say, it often provoked inaccurate speculation and lets face it, none of it did us any good. People know when they ask questions they are not going to get answers that are not already in the wider domain but i suppose if it reassures people because LR or MC come across as " a really nice bloke" then it doesnt do any harm. ;-)

Personally i dont have problem with news. LR did put out a lot of social media but when analysed it was same old same old rehashed and re spun. When there was something new it was never explained or committed too. it was just vague hints that caused more speculation and unrest than no news at all. Its partly why we are where we are As i said before ( that will upset shed) LR would hint at something and let the attack dogs on the forum build it in to something it never was while he always found a way of not confirming or denying anything.
Lets hope MC is just getting on with it and will report back via official RNS channels if there is any value sensitive material.
Good grief even this board has become almost balanced since LR left with his nods and winks :-)

You dont seem to be distinguishing between Zinc ore availability and smelted usable zinc ?.
I read it as a shortage of zinc because smelting cost are so high . That probably means there is a glut of ore waiting to be processed.

It seems to me the price of zinc is effected by a lack of smelting capacity, not a lack of zinc ?
Eventually of course demand will mean that smelters will have to fire up the burners at whatever the cost at which point we will see the cheapest produced ore carrying the best profit including the cheapest to transport (nearest the Smelter)
whether it will be cheaper to increase production at the present mines that are under capacity of open new ones is up for debate ?

It needs to be RNS'd first if its relevant the SP..
Many many people find social media and the people that post on and run it and decide what you can and cant do pretty disgusting.

"We will be happy to share soon here the outcomes from laboratory"

If its likely to be price sensitive i hope its an RNS and not just shared on LinkedIn

I'm absolutely sure Bennelong feel confident that their investment can be recouped however my worry now is whether they recoup from a rising SP or allow the SP to drop as its doing and recoup in the longer term by benefitting from a collapsed SP ( if not already collapsed) and a bargain basement sell off.
The management are not stupid...( well not very ) and the lack of news and consequently the corresponding falling SP is 100% within their control. It works both ways if you want the SP up or down.

Don't worry shed
DB would not have bought at 12.5p without doing DD :-)

Grappa
I tried to be a little more polite :-)

"If we had 4 projects we would have 4 times the amount of possible news. "
ha ha i could write an essay on why we dont have and dont need 4 projects but 99% here will be able to work it out for themselves. :-)

My point was that if for example they were raise at 2p the company would be valued at £1.6m and they can raise 50% so £800k - costs. On past expenditure thats 4 months. If they have not started drilling and they do not replace LR some saving will be had but it bothers me that we still seem to be employing Spanish admin staff and a large modern office and warehouse set up. We still haven't had any news on the cost cutting ?
we would also have to assume that there are people out there still prepared to put £800k in this ?

Bricks
My view is if they go for another placing it will just be a stay of execution. I dont see them raising enough to make any significant impact on the PFS let alone a BFS, no doubt it will be swallowed up as working capital again and prop us up for 6 months where we will be back at square one and probably with a sub 1p SP with holding diluted by 50% in a placing
Personally i would rather see this put out of its misery before another placing.
I think a vast majority now, like me , are just holding on for a miracle JV or partial sale.

"The exchange’s European warehouses hold a paltry 500 tonnes – all at the Spanish port of Bilbao – attesting to the squeeze on Europe’s physical supply chain caused by the loss of regional smelter production.
European zinc premiums are at record highs and rising, according to Fastmarkets, which has just lifted its North European assessment by another US$10 to US$440-500 a tonne over the LME cash price.
It’s no surprise that Trafigura Group, which operates three European zinc smelters, and others should be tapping the market of last resort to plug the supply gap, as sources have said. Trafigura has declined to comment."

I think the benefit of this to EUZ depends on why there is a Zinc shortage.
A/ a shortage of ore ?
B/ a shortage of smelting capacity ?

i do agree with a lot of EU smelters being mothballed because of running cost, keeping anything you can in house is a plus however if dedicated smelters are no longer cost effective i cant see how you get round that in the time frame we have. . I can see that the costs are reduced the higher the zinc levels in the ore.
Quote "Zinc ores normally contain 5–15% zinc. Approximately 80% of zinc mines are underground mined, 8% are mined from open pits,"
We seem to have an average of about 7.5% so about middling.
Personally i think we are passed grants and incentive loans now or even placings. We need a big player to fund this properly or we are sunk.

MM

https://www.reuters.com/markets/commodities/european-zinc-smelter-power-woes-spark-scramble-metal-andy-home-2021-12-08/