RE: WHY IT'S TAKING SO LONG !5 Apr 2021 08:55
Morning all,
I hope you all had a lovely Easter Sunday, we were 'summoned' round to the in-laws to sit in the garden, thinking the weather was going to be sunny but not too warm we wrapped up well only to swelter, shorts, and a T-shirt would have been better! a lovely day!
I pointed out all the great positive BOD comments at the bottom of the JV RNS that gave the company for a 0.5 mil $ outlay a two-year option over the rite to take up in the future if they wish, the option to partake in a JV over 9 more mines!
I thought this was a fantastic accretive deal for the company, but some looked at this as more expense going forward, and at the wrong time!
Thinking, this is telling us in a no uncertain way, that we are now only selling an asset that will help to fund this longer-term play! and that a full company sale is now unlikely.
I said yesterday, that the company was just making its self much more attractive to any prospective buyer, and currently had NO intention of mining itself these 9 new mines, this was for the NEW company buyer if they wished to take up the offer!
We know the company is up for sale, so why would they think of taking on 9 more mines at this time! as I said THEY are not!
They have just massively increased the future company potential with an unlimited expansion option if required!
All the company is currently doing is making itself IRRESISTIBLE to a major! by having this massive expansion potential!
We have all stated over the last year that the company OR its assets are up for sale? that line was in the past RNS's!
Have you noticed what was in black and white in a more recent RNS?
These words -
James Nieuwenhuys, Eurasia's CEO and Executive Director:
"In my new capacity as CEO and Executive Director I will continue to work with our advisers on the sale process of the Company and its world class assets, Monchetundra and West Kytlim, leveraging my relationships made over more than 40 years in the mining industry and securing a deal beneficial to our shareholders"
And here I highlight-
"I will continue to work with our advisers on the sale process of the Company and its world-class assets"
There is a small word change in that statement, that totally changes its meaning! the word AND which was before OR!
Originally it was the sale of THE company OR its assets! ie one or the other, so you could just get the sale of an asset only!
Or the full company sale which would include its assets!
But to state - " the Company AND its world-class assets" to me, encompasses the lot, in one go!
Make your own mind up :-)
So I think a FULL company sale is coming our way! only my opinion and I like a good conspiracy theory!
However this plays out, we have at least 3 bites of this apple, with ways this could play out!
Enjoy the cold and wet usual Bank Holiday Monday :-)
Good luck all
Catch you at 7 am tomorrow.
Cheers
Ian