Member Info for Highside

Crisp

You are banding about figures you are "sure of" and yet when you were doing this for Toral you didnt even realise it wasnt open cast ?

As i mentioned the other day, ask yourself why the big companies aren't piling in here ?

Because they will let minnows do the work, raise the cash and obtain the permissions knowing they can pick up the pieces later when that minnow is willing to take anything to survive as you are seeing now with Toral and Denarius.

Veridian couldn’t even raise £3.5m ? yet people here are talking £20m or £70m or even £1b ?

Have you learned nothing from the last 5 years ? As Shed has said, nothing wrong with airing views but its probably best done via PM’s

This company has an abysmal record for its shareholders ,its earned nothing in nearly 20 years and spent probably £20m but its done what its supposed to do. Its raised cash, done all the hard work, obtained permissions, proved up resources and now sold out at a fraction of its costs. Its paid very generous remunerations, options, and incentives.

From a BOD point of view and from Denarius point of view it’s been a roaring success and that’s all it had to be. Now it needs to start again so over to you lot.

Maybe start with what the SP might be ? At this stage I think we were talking between £1 and £1,50 for toral ?

Discuss…

Oh god its the same people pumping the same speculative nonsense again. :-) about time bricks dropped in for reunion....

[s]{yes Tamboran}[/s]

It looks to me that Veridian is right back where Toral started with inferred and indicated resources based 8 year old reports.

No doubt these will need to be proven, ecological assessments carried out, ground water etc. and neither EUZ or Veridian has any money. After 7 years and £12m+ this company has very little to show for any of it and now plans to rinse and repeat,

Companies like this are well known for doing the ground work for larger companies, they very rarely find the means to go to production. Its in the large companies interests to let the minnows find the projects, do the work and then reap the benefits like Denarius after the small PI’s have funded the project as far as they can. Denarius don’t give a fig about EUZ shareholders, I doubt Myles does either, they are focused on their own futures now, noy yours

Unfortunately punters are blinded by greed or just the desire to not admit they made a mistake , and the companies feed of this.

IMHO EUZ is just another player in the never ending list of revolving door companies for Exec directors who do the rounds, join lots of companies, pay themselves very well and provide zero shareholder value ..of course if you know better then list the current BOD list of financial successes for shareholders ?

You have a chance at the EGM/AGM to ask them where your money has gone ? Why Toral is valued at 2p ? and most importantly, Do you still think the day to day SP is unimportant and that it’s the endgame that counts ? because you have reached that endgame it seems ?

I would imagine its way to late now Cjen to form a share holder group

https://www.sharesoc.org/Shareholder%20Action%20Groups.pdf

I would expect The BOD and DB to have made sue they had control before they made this announcement.

I note Dr C W Powell who had been buying was able do dispose of a few before the RNS but i am sure he wasn’t forewarned...lol

As predicted the company now is very much in the same position it was when it disposed of Moonlight and side stepped into Toral only now its side stepping in to Viridian Metals , another miner in need of finance for which no doubt anything they get from Denarius will be poured in and talk again will be about what this will be worth in 5 years time. Great for MC and his job security, hopeless for those investors not endowered with immortality .

The question for the AGM must be.

You have ploughed approx. £12m in to toral. Share holders like me saw a collapse in their holdings of about 90% Why then are you “pleased” to announce the proposed sale of Toral at around the equivalent of 2p a share ?

Unfortunately I doubt the opportunity for Shareholders to get out with their cash will present itself before commitment to spend a vast amounts of cash on Viridian results in a placing and possibly another consolidation to make this yet again a “grown up company”

Looks to me this is now in the hands of a few larger hold who control the voting rights as you have seen over the years.

The question then is do their interests align with your interests ?

No one can deny that the BOD have gone out of their way to keep the SP down as low as it could go, often less than cash promised in the deal and that could only have been done with the likes of DB on side. As i said years ago you needed a share holders group to coordinate responses as it was pretty obvious the BOD and larger holders aims were not in line with the PI's in fact the blatant refusal of the company to promoter or sell the project to the wider market was telling.

Only 10 days ago they were saying Based on our previous posts we are close to a mining license and we are looking at funding. We’re not setting a date in stone but looking forward to updating the market #euz #mining #lead #zinc #silver

and yet they must have known this was misleading and this current news must have been ready to drop at the time.

Shame on those who shouted down those who could see where this was going, The writing was on the wall when LR left with no warning, another case of one story one week and the opposite the next, like recently. I hope you get out with more than the 5p i got out with.

"Does he know something we don't?"

Lol ....he must do because you wouldn't hold 8 shares let alone 8m knowing what everyone else knows :-)

Maybe he is a Doctor in a high rate tax bracket who is about to get 20% at the expense of a pensioner on a basic state pension ?

Most people are savvy 10B and will have sold up and have their money working elsewhere to recoup their losses . Those that are still here will be in at a way lower ave than we were a few years ago.

Good luck with your new project :) Tough times ahead. i just withdrew my 25% tax free from my pension while i still can, question is where do you hide it to stop RR plundering it ? I suspect isa and SIPP etc will not be safe from attack, neither will second properties so back to the days of "under the mattress " :-)

Its interesting that a tip from a tipster or a mention somewhere can produce 40+ trades on Friday. ok most were under £1k but what it shows is if the management were to promote the SP and Toral there would be trades, and trades of any size create interest and in volume , attract traders and generally put stocks like this on radars.

I said all along the management can manage a hole in the ground but they can manage the SP of a listed company ? yet their renumeration package is still a major slice or the mkt cap. I think this last few days trading shows you are being severely short changed by management who are contracted to return shareholder value... and how's that going ?.

Looks like i am the only one with half an eye on this still :-)

Come on shed, tell us how deep the latest hole is or how DB did their due diligence at 12.5p and knew what they were doing ?

You currently own 100% of Toral and the Mkt cap is £1m (1p), what is your prediction when you own 20% of toral ?

Please show your workings on a separate piece of paper. ....

JMA 46

At the AGM we saw the first signs that this gravy train was slowing for the BOD

They noted that 43% reject the re-election of Evan Kirby as a non-executive director. Say 43% oppose authority to allot securities for non-cash consideration purposes, while 43% vote against disapplication of pre-emption rights.

That was 6 months ago so they are already half way to the next AGM.

Questions should be asked as to why the company agreed an expenditure of £1.35m for a 12 month period that expired last March with Denarius, is worth barely £1m today ?... and why the expenditure agreement has not been renewed ?

In fact there are dozens of very relevant questions that should be asked if only the traditional Bulls here had not lost interest like Lawrence.

Bottom line is if you don’t manage the SP then little point in managing the company unless you want to keep the SP down….hmmm now I wonder why the want to do that……

Denarius raising $20m via a convertible...no mention of Toral in the use of funds.

Probably Myles creaming off as many as he can as a bonus or incentive or something while he keeps a lid on the SP :-)

I have to say i do still admire your optimism here, maybe you will get a consolation prize one day but the SP will depend on people buying in and thats where the plan falls down for me.

If 100% is worth the current £1m then 20%, will need to rise by 500% to improve on the current SP ?

I know you can spin figures any way you want, people were putting a £1.00 to £1.50 value on this not that long ago and you could argue things have got better since then.

Sorry i must be missing something now but i dont get the financials ....

9p buy this morning, nothing holding this back now...Could it be Crisp topping up ?

:-)

Just as well crisp, that would take the SP sub 1p if they could shift them at all.

I think the point is people are looking ahead to 80/20 position because thats when they may get a chance to get some money back. Nothing much is going to happen and I dont see any new money coming in here until the ownership and PEA/PFS hurdles are complete. At that time 20% is all well and good but until you know ,20% of what, you cant value anything or "do your research"/ invest, thus drive the SP up.

The worry then is what EUZ do with their 20% ? hand it back with a special dividend or just spend it on another 10 year project until the board want to retire.

My personal opinion is shareholders , private or institutional ,will want their money back and not want to invest in a completely new project given the dire history of EUZ, SP management .

Don't worry Bricks, Crisp's last post said he was buying more at this price so expect the price to pick up soon :-) still waiting at the moment to see a real buy but I'm sure his finger is hovering over the button ...

Maybe DB and the Directors here will follow suit ...lol, would be funny if it wasnt so tragic..

In fairness Bricks it wasnt always a lifestyle company.

I think we all knew when it went (effectively) bust and was left with no choice but to consolidate or get licked off the aim that it was going to take a miracle. Up till that point most lived in hope :-)

I sold up once i realised (rather late :-) ) that they had pegged the future on acquiring another asset and as you mentioned, would probably need to cash in the 20% to do that. The problem there is the likely buyer would be the people that owned the 80% so little point in them trying to get the SP up until they owned 100%.

That said i'm sure there will be a small return because the company is uninvestable under this management so i doubt MC would bother now to look for another asset, might just as well wind it up. The driving force was probably LR and he could see the writing on the wall.

They raised between £10m and £12m and have a company worth less than £1.5m

They didnt keep the money you invested, they spent it so the chances of any LTH ever getting his money back is miniscule now.

The problem here was their own incentive payments were obviously not high enough to incentivise themselves . :-) Just look at the SP ....they certainly didnt incentivise the investors :-)