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Agree MM thats why i say LR might have left because his new project was not going to get off the ground. I also think it might be that we are putting to much emphasis on Bennelong's involvement . they took a very small stake at a time when there was a much bigger stake on offer. By that in dont think their stake was anywhere near big enough to call the shots with LR or the future direction.

I think if people dig hard enough on why LR cleared off the future of Toral will be revealed.
Maybe he knew they couldn't fund the PFS, he knew the PFS was critical, he tried to get EUZ to diversify with a new project but could see that there was no appetite to fund that so he threw in his hat ?

clueless :-)

Volume is double indicated above if you take AQSE but spread now nearly 30% and bid not moved.

Crisp
They just stretched the spread to 22% and are dealing within that spread. they have been doing this on and off for weeks.

Cjen
"The killer is the PFS."
This is why i cant quite get to grips with them employing a manager for the PFS then saying its not funded in the current plan ?, I realise they are still tidying up the peripherals towards the PFS but their website says "Scoping Study and PEA complete - PFS underway"
It would really help us to understand the way forward if we knew the order of battle :-)

Cjen
They need to move the inferred to indicated to do that sum properly.

My sweeping statement is spot on, your strange interpretation of it is daft.
Put simply dont say you cant understand if you cant take being told the answer. Bennelong stumped up 300k ? You say you cant understand why we dont attract investors or buyers then say Bennelong and DB have invested ?.
Bennelongs investment would be enough to keep us going for 6 weeks on last years figures.,
When I talk about investment you know full well , as i said, a JV and that is £50m ? £75m ? not Bennelongs petty cash. That sort of investment will need more than fingers crossed, it will need hard fact, figures, costings and analysis or in other words, a bare minimum of a PFS..

"I just can't imagine why a significant Zn - Pb/Ag resource in a safe jurisdiction wouldn't attract an investor "

Maybe Its just too early. If you JV or invest in a project before even a PFS it rather defeats the purpose of a PFS
PI's put small amounts of their money in a project because its a gamble that may pay off with higher rewards, Institution dont usually want to take that gamble because it involves much larger sums of other peoples money. Far better to wait and let the PI's finance the PFS . Every day this drags out and every penny Miles spends is another day that the institutions are not committed , the work is being financed by others and the company value goes down.
That's not to say they will not invest, just that they probably dont see any reason to jump in early.

https://stockhead.com.au/primers/your-guide-to-mining-feasibility-studies/

Looking a bit more positive here, keep digging MM :-)

Thanks Bricks, great info. I just wondered on the dates as the Link MM posted said that a short list had been selected for consideration but its dated 2017 and we had barely put a drill in the ground then and we were still FCR.
Maybe i have the wrong end of the stick.

MM
Do you have a link to where it says we are in the program ?

"EUZ value £1.50 a share"
Probably would have been and probably still could be if they go all out on, at minimum, the PFS
I know i keep banging on about this but Its very hard to find anything to do with a PFS, FS or BFS that doesnt emphasise the importance of the PFS as a minimum to be taken seriously..

i dont think at this price we are bothered too much by market forces down, more likely people bailing to put money in those that are going to bounce. Its ludicrous to me that a guy can just crash the price of a company like this and then walk off to "concentrate on other activities" with not a jot of responsibility or even an excuse or reason given..
It makes you realise just how detached they are from your investment and why they dont invest in themselves and their own actions :-) just imagine if we all behaved like that and just walked out of jobs as it pleased us. People these days seem devoid of any moral responsibility for their actions. Myles needs to get a grip of this fast now or its going to go so low it will be bought out for £3m - £4m so someone can put the lease that we financed to the tune of £8m+ in their inventory for a rainy day. :)

We could go under 3p in which case the Mkt cap would be heading to £2m and we prob have £1m in the bank . Very sad.

A tongue in cheek observation.
Interesting to look art EUA, in 18 months its hit 30p nine times and hit 20p nine times. Each time rising 50% and dropping 30%. A trader’s dream or a trader manufactured roller coaster.
Long term holder have made nothing in that time but anyone savvy enough to follow the crowd ( or the right crowd at least) will have done very well. It does show the lottery of the market though, the problem is eventually the support from traders will move on and it will drop one day and instead of bouncing off 20p there is little to stop it from bouncing off 10p and even less and that’s what its done. Its not worth £250m today, it doesn’t warrant the 100’s million traded but it does show how fickle the market is, you do much better being picked by a few traders on social media and being ramped than actually proving up an asset and trying to be grown up :-)

Grappa
That was my point in the post below. without major change we dont have 1 year let alone 2.
My hope is there is a restructuring going on as we speak and the demise of LR and his position is the start, did he jump before he was pushed ?.
I do agree with most about Bennelong being here for a reason but i think DB are here because they misjudged this.
I hope we see the results of the review of expenditure soon and thats tied in with a positive way forward from Bennelong .
My analogy would be as i said many years ago, the foundations have been laid and they are solid and as toral has been proved up they have become even more solid. The problem seems to me they tried to build a house on these foundations without much of a plan so its missing a few essentials....like a front door.. Bennelong need to knock the house down and start again, maybe build a bungalow. :-)

Crisp
You are lucky Shed doesnt pull your posts apart when they are littered with contradictions and quite frankly, irrelevant nonsense :-) a little more time spent on research and a little less on ****ging off others would be a start.
So people like me and most others here got in too early ? while you timed it spot on and yet you say these things take decades to prove up and you jumped in after 2 years ?
As for the longer it takes the higher the commodity price so its ok , thats your best one yet. sell up and trade commodities then if its that simple.
Anyway on to sensible things.
My point is that EUZ and the associated spending is in danger of becoming the major expense here with Toral running second. Even EUZ have realised this and are looking at ways to cut costs without slowing work on Toral. Last year Administration expenses topped £1,357,427 with Payments to suppliers and employees £1,135,162 and Exploration and evaluation expenditure was just £1,959,132
What this says to me is even if everything stopped at Toral tomorrow EUZ would need near £1m just to stand still.
the company shouldn't need to be looking at what it could cut back on because it should never have spent out on those things in the first place, then we might have been able to fund the PFS and it would not look quite so daft hiring a PFS manager and not funding the completion of the PFS. Its a bit like most things these days from the NHS to the police, the admin teams seems to be very top heavy.
One other "minor" point....when you say it takes decades ? and another couple of years will just raise the price of zinc...do you really see this still being here in a couple of years under the present system/corporate set up/funding ? if so i suspect many here would like to borrow your glasses. :-)
You can tell me i am wrong and ridicule my thoughts, thats fine but look at the Dilution, look at the money raised and spent, look at the Mkt cap and look at any chart of the SP. Look at daily volumes and look at sentiment, thats what other have been doing with the data room open for nearly 3 years.......Yesterday EUA turned over 165,180,496 shares worth £16m , we managed 193 worth £7.28

One other point, yes we do need a CEO but obviously not while the chairman is carrying out the role. In this instance we have a CEO and a Chairman and its perfectly proper for one person to do both jobs although its usually the Company secretary who covers the role of CEO. EUZ has never really been in a position to support a separate CEO, chairman and company secretary which again brings me back to the excessive costs of EUZ as a vehicle for Toral.

"IMO the type of entity we're looking for won't give two hoots how EUZ are perceived as a brand "

Good so we agree on something as thats exactly what i said. too much money wasted on Branding that could have furthered the PFS and BFS.