Just under 24 hrs till the start of next week!26 Sep 2021 09:30
Good morning all
The future prospects for EUA and its shareholders are immense!
The company took the decision after being approached, to issue some more shares, (Private Placing) worth about US$15m to EUA, at a time where the company did not actually need the money, but, felt it prudent to do so, and to add to the company coffers for the upcoming Joint Venture!
The company had circa US$20m and no debt, subsequently, after the placing, the company will have US$35 in its coffers!
The Placee, actually wanted to purchase MORE stock in EUA, but EUA refused, wanting to keep dilution to a minimum!
This money EUA now has at its disposal for the Joint Venture COULD be used to buy out Rosgeos 25%, to enable EUA to have 100%, of the new NINE more mines in the J/V.
The company thought that the new J/V COULD be worth 104m oz, but if it found that it could be able to produce MORE, might be worth grabbing the remaining 25% if it could!
So EUA doesn't need the money for the day to day running, but, when this golden opportunity turned up, felt inclined to go for it!
EVERYTHING, the company has done recently has INCREASED shareholder value!
Don't just take a pessimistic view of the small in the scheme of things share dilution!
Look at the bigger picture, this cake is now massive, and your share of the cake has subsequently grown!
The company would not wipe £m off its value by issuing some extra shares if there was NO reason for it!
They told you that in a previous RNS, only accretive deals would be the reason for the issue of MORE shares!
It is all spelt out there for you in the past RNSs!
The longs see this company is going places, those of a get rich quick nature may have a small wait on their hands!
Things are moving along at a great pace now with the three wash plants and electric shovels, so let the company get on with the day job, and the sale will naturally follow!
You INVESTED in this company to do very well, and it will, I can assure you!
Those looking at the latest RNS will have noticed how very upbeat it sounded, and that only a very specific amount of cash was required towards the J/V?
Also from the companies report!
The successful signing of the Rosgeo joint venture in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state-approved reserves) with a total of 104.6Moz of Platinum equivalent!
So 4 out of the 9 NEW mines we know about, amount to 104.6Moz!
Leaving another FIVE mines that we DON'T know about!
Now, we know nothing is so simple as to just say if four mines produce 104moz, then nine might produce 234moz!
But you never know :-)
We do not know what the BOD have seen that have made them go for it, one day soon we will :-)
I found a video, their Septic Lil looks amazing, too much grog!
https://www.youtube.com/watch?v=OG0AvwM_QAI
Cheers.