An Extra Strong Buy now, In My Opinion!10 Apr 2021 12:49
The company do like to put the cat among the pigeons :-)
THE first RNS on Friday was about a new Director Appointment -
The company is pleased to announce that it has appointed Mr. Tamerlan Abdikeev as a non-executive Director of the Company and the head of Eurasia's office in Japan ("Eurasia Japan") who has already added significant value by bringing interested parties from Japan, that are keen to secure PGM deposits for nuclear-contaminated water cleaning and for the hydrogen economy, where Japan is striving to take the global leadership position. Tamerlan has introduced Asian strategic investors to Eurasia ....
Wow, simply wow, just think about that one, think long and hard!
The second one was about a Notice of an Extraordinary General Meeting -
The purpose of the EGM is to seek Shareholder approval for the following Resolution:
Resolution 1 - General Power to allot securities
This is just standard stuff and has been in all past company resolutions, and passed!
It is there to give the company the authority 'TO' issue new stock 'IF' needed and with $6,000,000 in the bank, not at the moment! and also the nonspecific offer by way of a rights issue IF the BOD ever deem it necessary!
Simplistically, this stuff only lasts for 12 months and has to be re-voted on to keep everything legal and up to date!
As the company is in no way distresed, this is just a threat to any prospective buyer to say we CAN at the drop of a hat raise capital.
The rest of the RNS was just great and bullish on how the company is planning to expand, and BOY is it expanding!
What proof do I have that they do not want to go ahead with a cash raise or rights issue?
Well, just look at it logically, who are the major shareholders, Oh, yes, the BOD, they are not stupid, far from it!
If they were to issue new stock they would be shooting themselves in the foot, with dilution.
If they were to issue a rights issue, because they are currently in a formal sales process, THEY themselves could not partake in it!
When we received the JV RNS giving us the option over nine more mines I said WHY now, this is NOT for EUA, but for the NEW company who buys us out to take on!
Rember when we got the DFS RNS, where it stated we could run the two mines concurrently, and the BOD clearly stated ... THAT is NOT their PLAN ...
Rember that Sinosteel funding deal that keeps on getting kicked down the road!
The company has NO intention of an apparent plan A, that is just to give the IMPRESSION that we could if we have to!
We are now playing against the BIG boys and so have to 'big up our hand'!
"The Directors are confident that the ability to allot securities and 'DEMONSTRATE' the capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company benefits the Company and its Shareholders by improving Eurasia's 'NEGOTIATIING' position"
We have swapped out some duff cards and are now holding a
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