Member Info for Highside

"It might mean we walk away and relist on AIM"

Relist as what exactly ? I could make some suggestions :-)

A grown up company ?

An investment advice company ?

How about a book publishing company ? your first title could be...

"How to earn yourselves a million while losing your shareholders millions"

Or

Invest in Toral,100% owned ………….by someone else…

Do join in chaps 😊

You can be sure that when they wind this up and sell the denarius shares the money raised will coincidentally equal the money owed to creditors, legal teams, BOD wages, accountants and the cleaner that scrapes the mud off the portacabin, Sorry head office step.

"Denarius shares are ring fenced and will only be sold off slowly if we ever need to. "

We ?

The denarius shares will be squirrelled away to fund Remunerations while investors will be conned into financing the RTO.

Have you learned nothing over the last 15 years ?

I told you all and so did Bricks, if you wanted to invest in Toral, buy shares in Denarius. That still stands...

This company is now a minnow startup again on a totally unknown road to where ? the only guarantee is the BOD will collect a remuneration fitting of a well established profitable company financed by others. Of course you have the option to do what you want with your investment but be under no illusion you are back to square one and being carried along with the tide here and there are many more , far better places to keep your cash. I find it highly unlikely that anyone who does their research into even half a dozen other opportunities on the AIM would choose this given the abominable history here of of total lack of return and huge losses based on the millions put in and the current SP.

"98% voted for the sale so large shareholder are on board."

I know i said i am gone but this sort of nonsense posting is wrong and as Shed, who always insists on pointing out misleading information, might miss it I will point it out for him.

The figure is 98% of the shares that voted but 62% (620 million) of all shares didnt vote so there is no proof the larger shareholders even voted let alone came on board. Had one person with 10p worth of shares voted with the same ratio against, it still would have passed by 98%

The percentage holding of the 20 largest shareholders is 85% but you have no idea if the large holders are simply Brokers like Barclays for example who may actually hold for hundreds of individual clients .

the truth is, the vast majority of votes/shares available, were not cast in favour of this motion/result.

A more mature assessment of what you just gave away might be more useful when deciding whether to hold your investment over to "take three" :-)

I was going to say that anyone who thinks that this companies record in returning shareholder value bla bla but the reality is they have no history in their 18 years of returning 1p of shareholder value in fact they have lost in excess of $52 million ASD . so much that the last RNS said the BOD recommended selling as they doubted they could raise anymore...

"Given the Company's share price whilst it held the Toral Project, the Company may not be able to raise funds to continue exploration or any such raising may be unduly dilutive to Shareholders."

Anyway i urge extreme caution here as one of the few that was in this for in excess of 15 years , lost a small fortune as i believed the Hype, but have been fortunate to make 35% back so far elsewhere.

My interest and everyone else's was Toral, Toral has gone so now....so have I :-)

‘To lose one may be regarded as a misfortune, to lose two looks like carelessness.’ (Oscar Wilde)

well done chaps, looks like you traded toral and about £8m invested for £3m and **** heap in ireland ?...unless you know better.

Turkeys voting for Xmas springs to mind......

The BOD have spent the last 5 years telling you and the likes of DB that EUZ is worth a darn site more than 3.4p....lol

Now they are telling you its not even worth that. So whats their real game ? I bet it doesn't include you ?

So what value have you placed on EMI then Cri5p and why ?

"Please take a few minutes to read up on the basics"

Said the guy who needed me to point out the basics in the RNS "part 1.3 " benefits of the proposed transaction" :-)

The only one here embarrassing himself is you who spent the last 4 years ramping this total dead loss.

Doesn't it seem a little odd, even to you, that this ready to go resource with imminent Gold production (your words) was

A/ unable to get finance

and

B/ has not been snapped up by a player while looking for that investment, presumably with its data room open ?

Instead its settled on a minnow with a history of failure thats never in 20 years, returned a single penny to its investors despite ploughing through AUD 52M ? (so far) ?

Don't even bother to answer that :-) i'm sure it will be different next time :-)

i suggest you read part 1.3 " benefits of the proposed transaction" in the rns

at this stage trying to get a *** paper between tynagh and viridian is like doing same for toral and europa. the end result is the shares will be sold down, probably delaying the first placing , all the same if you can find something good about any of this keep searching...

And its not like they will buy back shares or have a special div...they have already said they will sell the shares down to finance Viridian after which they will be doings placings to finance it.

So they value toral at £2.5million ..shame they didnt mention that before they spent £7.5m on it

this is exactly what they did with Moonlight , spent millions on it and gave it away

Now they plan to do the same with Toral

And in 3 years time they will do the same again with Viridian.

The only thing this company does well is spend your money and pay themselves very well for doing it,.

You would be mad to vote for this and just start all over again.

Lets be generous and say that Toral has cost £7m to get it this far. I think from memory they paid something like £400k for it ? but I don’t know if that was included in the £7m but lets say it was.

So shareholders need a bare minimum of 7p per share to exit this phase having just lost the interest on their investments. Does this then assume that Toral is still worth the £400k that was paid for it ? if not then that value gained needs to be added to the 7p

It really comes down to what value you put on Toral and what value the BOD put on Toral ?

As I see it Toral has run its course for EUZ and there should be no question of the losses being carried over to the next project or the two projects linked when talking about gains.

My worry for you when I see MC claim he “is pleased to announce” in an RNS is, if that pleases him, he clearly is not on the side of shareholders. Its just a shame that any EGM is just a formality and cant have any bearing on the now publicised way forward. I don’t believe he would even go down this route without securing the vote behind the scene first despite the RNS saying its not a forgone conclusion…but that just my opinion.

There was a reasonably large buy back in July but since then the volume on the JSE has been dire. You would have thought for a stock to double there would be some steady buying ? very odd You would expect the SP trend to mirror on exchanges although i can see the price would never be the same given, exchange rates, liquidity and local taxes etc.

"There's a chance that by the time we re-list our stake is worth considerably more than the EUZ market cap"

one way or another the value of EUZ was always more than its market cap either in the ground, as cash or as promised investment from Denarius. I just got to the stage where i thought It was never going to happen with toral management , MC/LR maybe the best geologists and project managers that even were but couldn’t run a listed company to share holder advantage to save their lives. IMHO

Maybe it will come good even now but its too late for me. Hooray for Aviva's SIPP fund manager :-)

Not this old chestnut yet again.

Well work it out for your self then Shed, its your mess :-)

Full year accounts at the end of 2017 at the time of first toral drilling and disposal of Moonlight show accumulated losses of 36,483,664.

that would be $ so about £24m if i remember the exchange rate being about $1,5/£1 ish

If bricks figure is also $ would be £34m so a rough guesstimate would be £10m so i was a bit out at £12m.... my bad.

All the same if they just got back their investment and placed zero value on Toral the SP would be 100m shares/£10m