Member Info for Hodgeyd

But if we do are we going from one problem to another?
One of the proposed directors ran Paternoster, look where that ended up!! Finished with 6.8 billion shares in issue. Will they do the same with Plutus?
For me yes, the current board have taken a lot out, but they have also worked towards getting Gas sites built, new funding without dilution should be sorted and new board members with relevant industry expertise must be on the way. For me, a lot of hard work has been done over the last 12 months so we could end up throwing all that away and wasting another 12 months.
I still haven't decided which way to vote. Depends whether the new Directors (and existing) will agree to take no salary or free shares until progress is made and the SP starts to recover. Only when income starts should they take a salary based on revenue / profit. This would at least protect the shareholders and the company from potential new shares and fund raising.
I've been in Plutus a long time and it is frustrating and all I want to see is value returned. JIM want this too but they're only doing this for selfish reasons and could we end up with money taken and the company bled dry again in some way that means JIM get some of their investment back?
I'm going to the meeting. Flights will be booked, hotel booked and i'll be there to get more info before I vote. Still ne more facts and questions answered before I make my mind up.

@greenhighlander
The last paragraph of the RNS is important. the on-going talks and discussions probably means potential sale talks in my view. They will still work on going it alone just in case but either way, it's positive news. A sale would mean SP rise sooner (months) whereas going it alone would require more patience.

Just my view of the RNS, each will have their own way of interpreting.

I'd like to know what the 'Cash cushion' is at. Hopefully and RNS soon confirming sales and what cash they have in the bank.

Our cash cushion, our zero debt, the progress on the Monchetundra Flanks and the favourable price environment for PGM, particularly for palladium and rhodium, are helping us in our ongoing talks and discussions, and we believe this strengthens our negotiating position as we continue to explore options for our assets".

So, one of the new Directors was in Paternoster Resources. That was a failure and all they did was issue after issue, funds spent and left with a worthless company with 6.8 Billion shares.
Do we want PPG to be diluted and have billions of shares? Any shares issued no doubt will be done to favour JIM and any actions taken will be to benefit them more than anyone else.
I'm still on the fence, are we going from the frying pan into the fire?
We need more information, i'm certainly not voting until I hear more hence why i'm attending the meetings to see where we are. Maybe some information or progress news will be out same day as the AGM.

My opinion on this is, as with an oil company that could be sat on billions of barrels of oil, it's worth nothing until you can get it out the ground at a good speed / rate and sell it. Once this is proved then the SP will rise. Same with EUA, I've not seen much in the way of proven extraction and sales apart from the limited platinum a few weeks ago, and this was restricted by licence.
Once they release totals of how many ounces of each material has been extracted, and how much they made and whether this can be improved on / increased, this will determine the SP levels based on actual sales / income.
That's my view, i'm sure someone else will have a differing one or another angle on it.
Whatever happens EUA has a very bright shiny Palladium future and the SP will rise based on Flanks news, sales news and then hopefully....potentially.... a sale.
I still think we're 1 to 3 months away from sale news and flanks news is part and parcel of this. Flanks news should see the SP rise and sales news, assuming it's going to be good for the last qtr where we were 100% beneficiaries, will all bring rises and profit.
Patience as always and will keep holding through each of these news cycles.

@Brotherjoey

I've been in EUA for over a year and have only posted very recently. No posts or recent posts doesn't mean i'm not invested.
I was using a different site to monitor my portfolio and never commented or felt the need to. Now I've joined lse and still don't post often. Better things to do with my time most days being a retired but very active 52 yr old.

Hi Greta
If that is all fact then roll on the changes.
As mentioned, i'm sure changes are coming and the vote will pass for change but more info is needed for shareholders to make a real informed decision. What we have is not enough and i'm sure most won't be able to make the meeting so will vote based on not a lot.
I'd love to at least get my initial investment back, that would be a good thing right now but we're in this to make money so hopefully whatever the future holds it's positive and increases the SP again.

Initially I thought this might be a good thing, and may still be the case as a major shareholder will want to see return on their investment so it would seem they want the business to recover and move forwards ASAP.
But, it also seem that the ex director Paul Lazarevic who left the business and had a major financial impact on PPG as losing him meant they defaulted on a contractual agreement causing management of sites to be terminated, and along with it income / management fees. Now it seems he may be coming back as a director with the new regime?
If he head the best interests of Plutus in mind why did he leave causing financial losses?
Maybe there are reasons we don't know about yet, maybe they have secured agreements to get back on board with Rockpool and reinstate management of the sites? Although as they are likely to be sold, of which PPG still own a percentage, then on-going management is irrelevant.
I need to know what the new boys have in mind, what experience do they have, are they still looking at power provision and developing new sites or taking the company in a different direction or even different industry?
I've never been to a shareholder meeting before but I might just fly in for this one to get to see the whites of all their eyes and maybe even ask some questions.
Too many questions and no answers currently so undecided on which way i'd vote now and will wait and see on the day.
Unfortunately most will probably just vote without having more information to hand to make a more informed decision so it is likely a change of board is imminent.

Anyone else planning on attending?

Why do people feel the need to rise and respond to the many idiots on here and feed their drivel!!
Makes it easier for me, filter, filter filter, lost count how many I've added over the last 10 days.
Soon this will be mostly green little boxes with more relevant and quality post in between :)

I've got 6m and sitting on a big loss currently.
Just going to sit and watch to see whether this can be turned around. I agree with other comments, to many big investors in here that want their money back, with a profit, so confident it'll get turned around and move up again, it'll take time but I can be patient and willing to wait as long as needed. I'm keen to find out what the plans are for the new three potential candidates if they get in. Will they take a salary, will they purely be rewarded based on results (which would give me some confidence) . Wait wait wait...…..

Another tweet out by Zak. Part 2 to follow apparently.

Actually the RNS on 24th October clearly states 'Strategic Options' so while it does go on to say that if a sale was to go ahead the company would fundamentally change, in no way did the RNS imply this was the only path being taken. Strategic Options could be a number of things.

Eurasia, an established producer of palladium, platinum, iridium, rhodium and gold is pleased to announce that CITIC, one of China's largest investment banks and VTB Capital, one of Russia's largest investment banks (together the "Banks") have already started (even prior to signing their respective engagement letters) assisting the Company with strategic options for its current mining assets (the Company's Kola and Urals assets (the "Assets")), including assessing the proposals set out in the announcement on 15 September 2019.

Looks like it could close at or above 4p. Would be nice if it did, as excitetment builds towards the next RNS announcing flanks or income, or both, 4p will be history and then news of a deal and who knows where it'll end up. All unknown but potential is there....

I tried to search for the new three potential candidates but only found one as below. Didn;t put too much effort into yet but will do more sometime.
I've never been to a company shareholder meeting but I might try and fly in for this one of it's reasonably convenient to get to from Gatwick or Southampton. More likely Gatwick I guess.
Would be very interested to hear what they have planned, what they think the future holds and whether the new team would still progress with new Gas sites or have another plan up their sleeves.
If David Horner is a big money man then It's fair to say he most likely has all the contacts to raise funds, no idea on the other two.
I also wonder if there were any odd goings on behind the scenes with the recent director leaving at short notice even though the company said he should've given a longer notice period. His departure has led to ths current situation where agreements have been breached and PPG no longer manage or have income from the Rockpool sites. Was his departure part of the plan from JIM? Who knows, just a theory that came to mind in the last couple of days.
Wait for news of the meeting, sit and wait.

I’d be disappointed too if it was ‘only’ $500m. All depends on the deal and what gets agreed. Do they sell the lot, sell a percentage and keep an interest. Who knows but whatever the deal it will be a good one for us.

The deal will probably be in $ so taking into account exchange rate to £ a deal at $500m would be about 14/15p. I’d still be quite happy with that.
News on income due soon hopefully and I’m not expecting a sale deal to be announced until new year sometime. A deal this size takes time even if something has been worked on in the background for a while.
I’d like to be proved wrong though.

And as I said, these are just my thoughts and i'd love to be proven wrong and have deal news in a week or two. Or even days.....
reasons for not believeing a deal has been worked on for a long time, announcing the banks as potential intermediaries is one, the two banks must have interested parties, if they have the nI doubt they'd be that far down the road yet being that the announcement was quite recent. However, the announcement of their Special Advisor more recently I think has more strength to it and could be that a deal is in depper discussions and he has been brought in to assist with the detail and nitty gritty stuff.
None of us know for sure, we all have our opinions and until news breaks we just have to wait. I'm sure the SP will start to rise if news is more imminent as it usually does in my past experience.

All of your messages are valid and possible. A deal may be further down the road than any of us could imagine. I'd like to think if it was then a suspension pending completion woudl be sensible. Too many leaks of info in deals like this imo.
Warrants, it was a clause that could only be activated 10 days of constant SP level, timing is such that they could, had it dipped below for just one day then it wouldn't have been activated and we'd be none the wiser.
Appreciate all the good comments on here by a handful of posters, keep em coming and i'm sure this will reward us with some good news, when is the only question tha tremains.....well that and how big is the deal and where will the SP end up LOL. So much to come and patience is all that's required.

First time posting but been holding for a long time now and watching all the posts on here. Some useful, too many utter nonsense and now filtered.
News should be coming soon on sales and progress this year giving us an idea of money in the bank and income which i'm sure will be positive and some good news to keep the SP going. And nice tgo see it staying around the 3.1p / 3.2p levels today.

As for a pending sale, it does make me laugh at all thoise saying, almost daily that there'll be an RNS tomorrow announcing the sale. Keep going guys, one day you'll be right :)
A sale at these levels, potentially in the region of $500m, and that's a wild guess, will take time. No company will make such an acqusition without spending a lot of time going through all the documentation, mine information, statistics, history, contracts, proven reserves and more. This takes time and they will want their own experts to do all this. On top of that we have legal involved, contracts for this type of transaction will be detailed and take time to put together.

Of course i'd love to be proven wrong, a sale sooner would be a great Xmas present. But I do anticipate it taking some time ot get a deal together. I guess an announcement to say an offer has been received, shares will be suspended, legal will get on with contracts and a deal hopefully will be done to all our benefit.

In the meantime, i'm holding, watching and waiting and whatever happens to the price between now and a deal or no deal announcement is irrelevant to me. Even if a no deal is announced they are operating one mine with 100% operations and return, further progress elsewhere can only reap further rewards longer term so either way it's a win win and i'm in no rush.

Good luck to everyone in EUA and here's hoping for a cracking deal in the pipeline.