Member Info for Ibizamatrix1998

Hi Del, I think a wave of buyers looking for long term dividends in a growing PGM distraict will offset any sales after the special dividend has been paid out. I will be one of them.

GLA

Hi Trick, when EUA is generating profits, then we will get a declared dividend based on the profit. From memory, average dividends in this sector are 8.6%, therefore to receive a £0.10 dividend, the SP is likely to be +/- £1.16. A special dividend would get paid out of the partial sale proceeds of the assets. The SP will rerate when we know details of the deal, hopefully before the AGM.

GLA

Hi Awaker, don’t think so. We only have an option right now, but in less than 2 years, we will have confirmed resources, which mines we want, the sequence of extraction and whether we want to exercise the option to buy contract for >75% of each mine. Then we will have another asset and a projected income stream.

GLA

Hi Aston, I think maybe we sell 80% of MT of which we own 80%. So 64% of MT value. Keep WK for cash generation and expansion over time. What’s 64% of MT? Let’s use $4.5bn and EUA keep $500m to develop JV. $4bn x 64% / 1.4 / 2.759bn shares = £0.66 per share. Would that make a difference?

GLA

Hi Ian, could I join in with a special dividend of £0.27. Seems light compared to some guesses, but this will be an important piece of my life puzzle.

GLA. I’ve been here since August 2016 and I hope sincerely that this RNS can convert into some dreams being met. Many have said they will look after family members or to donate to charities. These actions have defined the overarching positivity of this BB, and it is that which I will remember - not the negativity. Thank you to all the serial contributors for going beyond what was needed. Sometimes words are not needed, but a simple thank you doesn’t seem enough. X

Hi Ben, great work.

GLA

Hi Portsmouth, we are continuing to prepare and mine WK as you can see by the satellite images provided by Alex. Operations continue during the FSP as confirmed in the RNS and JV with RosGeo. Horizontal rain here and I hope it cleans the decks of the negativity.

GLA

Hi, GMF78 has WK & MT with a 15% WACC at £1.31 and the RosGeo JV at £0.17 = £1.48 PS. I will definitely take that.

GLA

Hi TOWI, agreed and another top up completed.

GLA

Hi Ian, I hope you enjoy the breakfast. Please can you add my name to the RNS list for my first guess. Friday 4th June. Thank you so much.

GLA

Hi Kira, I have always thought that NN will be involved at some level. Originally, they would be the sole buyer. However, as the project options have been increased, they may form part of the solution, which may be why the RNS’ refer to being 3km away from the NN smelter and facilities. We can’t get away from the Russian politics either, especially in light of the JV with RosGeo. EUA have gone way beyond what I could ever have expected from a junior explorer. They have calmly led the horses to the water, now the horses just need to drink.

GLA

Hi Peter, I think EUA have delivered an immediate win with the current WK and MT scenario. They have also delivered a medium term win with the exclusivity areas. They have also delivered a longer term win with the JV with RosGeo. They may have also delivered an off take partner win with the Japanese/Chinese for the buyer(s). The EGM has also delivered a resounding win in favour of the resolution and enhanced their negotiating position yet further. The stage has been set, the lights are on and the curtain is about to be drawn back on the winner of the FSP.

GLA

Hi dmacd, I think ftsedow left a link earlier from GMF78 who has provided a sample email template wording to send to HL via the secure message service. Perhaps the link can be reposted as it may have lost in the board?

GLA

Hi Onassis, great summary and a positive post for any new comers to EUA. It is important to correctly differentiate between "75% of the auction cost" and 75% of the value of each mine could produce. The auction cost is cheap relative to the value of the metals contained in each mine.

GLA

Hi Ian & Mooching, EUA need to pass the resolution to raise finance IF needed to help strengthen their negotiating position. The subtle wording means that they do not need to raise funds at this time. I agree with you.

As EUA have already paid for a 2 year option to decide which mines they want after proving up any resources, plus they have the call option to buy the RosGeo 25% stake, no funds are required at this time for that purpose either.

Finally, they can mine and pay the 25% royalties/profit to RoseGeo as they go, so money needed in advance for that either.

I think we need to take the BOD and the RNS at face value. I voted in favour of the resolutions.

GLA

Hi, this is one for the more experienced regular posters. I have read posts from derampers that they are concerned that there has been no DFS for MK and as a result, the value of EUA should be a lot lower. Is there any mileage to the idea that the Japanese could be involved to secure a binding offtake agreement, allowing EUA to get the TEO/DFS?

GLA

Hi Mjd, ha ha - I just did exactly the same thing. FYI the next bank Holiday is 3rd May :-)

GLA

Hi Denby, I read somewhere that the average dividend for the mining sector was 8.6%. If you were looking at an annual dividend of £0.10 then the SP would be £1.16. I would be very happy with that outcome.

GLA

Hi All, if EUA is sold then for it to be agreed, the deal would need to be voted on by the shareholders. Could that item be added to the EGM?

GLA

Hi Happypennies, GMF78 was looking at an SP of £1.94-£2.34 once all the mines have been licenced and £1.17 as we are right now with the JV with RosGeo. Just need to stay positive and the RNS will arrive without warning as did the WK resource upgrade and the JV.

GLA