Today's deleated post, reposted!31 Oct 2021 11:49
My reply to LTL and his negative views!
You posted:-
"· Further to the proposal (the "Proposal") from the credible party (the "Buyer") on the potential asset sale announced via RNS on 12 May 2021,
Yes, and what are they doing about it???
· As announced via RNS on 30 September 2021, since the receipt of the Proposal in May for the potential acquisition of substantially all of the Company's assets, additional interest from other parties is being considered by the Board.
· It is the Board's intention to advance several options with advice from UBS, DLA Piper and other advisers"
You are just suggesting they are kicking the can down the road as you think nothing is happening!
Au contraire," The Buyer has already informed Eurasia in writing that it has successfully completed its due diligence"
To the positive-minded shareholders the unnecessary inclusion of the word 'Successfully' implies a bit of "je ne sais quoi" to the word 'completed', it even comes across as if 'The Buyer' is most happy with the results of their due diligence!
"Since the receipt of the Proposal in May for the potential acquisition of substantially ALL of the Company's assets, additional interest from other parties is being considered by the Board"
This also is a very positive statement :
If you break it down it implies that 'The buyer' of 'substantially all of the Company's assets' won't leave much behind, maybe 20%? and the Rosgeo Joint Venture.
Now with the Rosgeo joint venture in the small print was a clause that if EUA found that the 9 licences contained more than 104.6moz, and EUA took up a 75% stake in all the 9 licences, EUA could then, if they wished, take up the remaining 25% that Rosgeo owned, for themselves!
From the J/V RNS:
"The Company is pleased to announce that the first joint venture company, Monchegorskoe LLC, was created to hold the Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Euraisa, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud"
So for the positive shareholders, we see this remaining 20% of EUA plus the JV, or EUAs future ownership of 'Monchegorskoe LLC' outright, as what might be up for sale, to mean where THE "additional interest from other parties is being considered by the Board"
The word 'Additional' means in addition to:
"added, extra, or supplementary to what is already present or available"
That means what's leftover to me, could well be EUA goes lock, stock, and barrel, in the end!
The Buyer - Singular - NN?
Other parties - Plural?- for the rest?
Just my take, GLA for Monday!
Cheers.
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