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i dont want to pour cold water on your idea MFM because i dont have a better one but if he has diluted us to this extent for another 12 months ...just before announcing a deal on Toral then why ? I very much doubt he would be selling shares at a 40% discount if he knew that those investors were going to strike rich any time soon.

sorry i think you first " utterly preposterous" idea fits in historically with this BOD thinking..

I think i preferred the ship/SP without a rudder of the last year than the one we have now heading off to unknown foreign shores to mine unknown new commodities. You cant invest in a company with no real goal, or timeframe and with such poor communication of the "need to know" facts. The whole thing is now so vague as to be almost irrelevant to most. Therefore this remains a punt as Crisp and i have said in the past and no way ,while just a punt, can it also be a "grown up company".

MoneyM
I watched that interview, he lists all the commodities he likes, Gold Copper ( had to laugh at iron ore) He lists all the countries he likes and all the uses he like for those commodities.
To be frank we could all do that.... but did he say when we might get a PFS ? if its was fully funded, where Toral is going or why he is " refocusing" the company in a different direction ?
I just despair at the way he manages to chat away without really saying anything ?
He says he is disappointed by the SP ? so what's he going to do about it ?
He comes across, very laid back, happy in his job, looking forward to new challenges and doesnt seem to share even 1% of the frustration, concern, or financial worries of the shareholders..in fact he comes across as totally detached from the financial mess that is EUZ. If toral goes the way of Moonlight, no worries we have another great project in the pipeline.
Jeeeez

Depends how you read it Mr T
I read LR comment

With the support of the Company's Shareholders, our refocused strategy going forwards is to seek to generate value via a potential transaction(s) to augment our asset portfolio whilst continuing to further de-risk and progress our Toral Project.

To me a refocused strategy that requires buying another project is not something you do if the project you have is even 12 months away from any sort of financial return. I would rather the refocusing was on what we have.

A question might be why shareholders have been pretty much forded by dilution to fund another project when the first is still not funded or showing a sign of return ? Was anyone here actually asked if they wanted to fund another project having poured near £10m in to this one and not even got a PFS ? let alone a BFS.

Cjen
Dont start us off on new names for the company :-)

How about
Placings "R" us ? or MSI (money sponge Iberia) ;-)

Teaye72
It does say 12 months but on past experience they have been using about £2m a year. With the possibility of an acquisition and not knowing what that will cost or need, with further drilling and increased warehouse space and increased staff i dont see how its possible to know what the cash burn will be. We still dont know if the PFS is funded ? I would suggest the cash situation must have been desperate to raise at a 5p when the SP was at near 15p in April.
and there is the Rub, with the BOD they simply show no signs of how to run a listed company to the advantage of investors.
I have said a dozen time here. they will be a pay-out here in the end but it will be a fraction of what it could have been if the SP had been managed as well as the asset

Gappa

"Since PIs only make a small percentage of the votes. "

PI's probably hold a vast majority, prob 90%+
Your problem is getting them to work together

I suppose they could try and expand to the sides, if this whole project has a fault its a bit small as it is. Trouble is that will be another year of drilling i suspect with all the costs and time associated..

You do have to ask if you know you need money, why would you place with an SP at 8.5p ? bear in mind that when they planned this a couple of weeks ago the SP was actually at 7.5p so it was at a 12 month low and had been as high as 15p
Bad luck or misfortune ? no just incompetence as LR has a history of appallingly bad value placings.
Everyone expects placings with explorers/miners . The idea is you promote the company and the asset and SP goes up and so placings get smaller dilutions get less as the project progresses.. This is not going to happen if you publicly state you are not interested in the day to day SP !
LR's plan has failed, the SP goes down on good news, so much so that people actually forecast it will go down on the day good news is released. LR should stop making excuses to himself and resign, he is actually the problem here now..
What has happened today is exactly what i said would happen 12 months ago as Bobby Beal. In 10 years of FCR and EUZ i have learned the routine.. If i can see the routine playing out, so can every other serious investor and that is why even now they will hold off until you get new management.

Give it a couple of days and there will be 2-3 guys on here telling us what a great company this is and how its actually a good price to top up :-)

BricksSA
67 trades today and at a glance all but 2 or 3 under £1k and there is your problem. How are you going to drum up enough support to oust LR when a vast majority of holders are very small PI's and another 30m shares to come ? The first thing these guys do is secure their own position on the board to stop exactly your plan from working. I'm sure whoever buys those 30m will give LR their full backing for his generous 40% plus discount :-)

It was one of many very ill judged outpouring of wisdoms Grappa. You cant be a grown up company with a mkt cap under £100m let alone £2.5m and it was stupid to say you could be . Bricks is right, there is now a crisis of confidence in the BOD, LR's position is untenable , he has failed to promote the SP, increase the SP or even maintain a level SP.
Unfortunately nothing will actually happen because the ave BOD like this dont invest in their own projects , dont accept responsibility, are never accountable and dont have the ethics to to the right thing.

tsbs
As i have said before they are a 1 trick pony, if they sell Toral then EUZ has nothing and they are paid by EUZ, in short if they sell Toral they put themselves out of work. If however they had expectations of toral actually being worth a fraction of the speculation i doubt they would need to work again anyway so that doesnt bode well.

Good luck with that Bricks and i will support you but remember i told You, shed and Crisp and Money exactly what was going to happen and i got filtered by the lot of you. So much so that i had to change my name to be heard . Nearly all the hope here was generated on this board with talks of "raining money in the EU " and countless irrelevant links to funding that had nothing to do with us.
The four of you basically made the board closed shop and shut down an opposition. Now you blame LR...lol In actual fact LR has been pretty spot on in everything he has said. He has been playing this down for years. I dont agree with his tactic of putting all his eggs on the final outcome but 90% of the expectation was fuelled on this board.
Had you even thought about addressing the issues i raised after the last placing when i said that they would raise again with similar dilution (as they now have) and pushed for a different form of funding we may not have been in this position now.

Only 2 weeks ago i said they would have to raise at a huge discount at 5p if they had any hope of shifting the shares, the damage however as i said to you 2 years ago is not in the SP, its in the dilution as once again the final prize will have to be split another 30m ways.

Ha ha yes Grappa but i think most LTH gave up trusting LR after the last placing. I said at the time as Bobby Beal that the consolidation was forced on the board if it wanted to place more shares but LR said it was to make us a grown up company...lol

This is exactly what i have been warning about, its not really a great surprise and the reason no one has been investing here for the last year. Lawrence stated years ago he was not interested in the day to day SP, that should have been the alarm call because as i said at the time , if you rely on placings to finance ,then the Daily SP is all important. Pretty basic stuff but just something he couldn't grasp.

Sorry but i dont see buyers flooding in before news, i think any buyer would want to read any news very carefully first. The threat of a placing still hangs ( i suspect by design)

It will not be 12.5% though MM
A rise on no news or info is very hard to sustain.
But it does show the potential if there actually was some news that could be converted to value.

You will not get a speeding ticket. They could hardly say we know of no reason...when the PFS and accounts will be due soon.
anyway it would have to pass the point of the last ticket at 30p at least IMHO.

As you say one decent buy and .5p premium........................ ;-)