Member Info for Ibizamatrix1998

Hi Mac, with the II investing $10m at 22.5p for WK and now Veles at 29.5p, is that our new floor? Clearly Veles will looking for Xn return from here?

GLA

Hi RJC, a rogue wave for sure. Now SP has II at 22.5p and 29.5p and index funds underpinning the value. Steady as she goes.

FWIW, shocking, disgusting, abhorrent and disgraceful abuse aimed at some contributors yesterday.

GLA

Hi Mac & All, if we’re still if the opinion that the sale price, and historic recent purchases, have been based on what’s in the ground, maybe his sale today was part of the new structures being discussed?

GLA

Hi All, if he has been selling for weeks, the BOD would have known for sure. That should have given them time to release an after-hours RNS, even if it was saying "please refer to the previous FSP update RNS". I have not sold, but I am devastated as this came out the blue. I have been glued to the screen at 08.00 everyday for months and tomorrow will be no different.

There is no comfort here but, should the binding offers not materialise, how long do you think it would take EUA to trigger the SinoSteel deal? Any thoughts from any sober investors?

GLA

Hi PP, committed to a strategy of further developing WK after the sale of MT? We can see the satallite images of the clearing of the over-burden, WK DFS, additional licences and new vehicles. WK has the Rhodium too. Or a JV for both sites? Either way, with that language and wording it may not lend itself to a full EUA sale. Excited either way though.

Has Dimitry's cat literally let it out of the bag earlier :-)

GLA

Hi Dmitry, do we need to call Jack Bauer to come and get you? Events happening in real time.

GLA

Hi 1eye, Lancerman; there is debate as to how to value the PGM as the price is moving strongly higher. Being cautious, it would make sense to use a long term average, but that is historic and backward looking. Surely UBS will be looking to use a $/oz value based on possible future trends also, which will be higher than a 10 year average for example.

EUA has been around for 20+ years, mainly loss making, so I’m not sure how much value will be attributed to goodwill in the final offer.

GLA

Hi Jack, £0.79 but happy to be proven wrong!

GLA

Hi, FWIW 45p partial TO as special dividend and 79p full TO. Disappointed today as I thought this may be the springboard to move higher. Clearly I would have liked details of the DFS, but I’m heartened by the bank balance. Is WK the largest of its kind in the World?

GLA

Hi All, GHF78 revised their analysis for a full company sale sale of between 94p-£1.06 (from memory apologies if incorrect). I have taken ACF report and added 30% now we have the flanks licence, to 79p. However, BOD comments about a PGM district to rival Bushveld, maybe a JV with a 45p special dividend and EUA to continue their first mover advantage in the region?

GLA

Hi Dmitry, thank you so much for taking the time to address your loyal followers and investors. For the more recent investors, please can you re-post the hilarious video you refer to? It was made in the best possible taste, despite it ruffling a few feathers at the time. Due to the new lockdown restrictions in the UK, and that we are all drowning in rum, a cheeky video reminder may be what the adults need this weekend (before the usual monikers come out to play). Thank you.

GLA

Hi Gekko, The Last Unconsolidated Palladium Play, diverse parties with non-binding bids, EPCF with SinoSteel as the face for a Chinese backed offer? The tweet infers that there could be State sponsored interest as well as company interest. I’m glad UBS and DLA are leading this forward!

GLA

Hi Mac, thank you as always. If the non-binding offers are being assessed by UBS for the greatest chance of success, with a view to move to a 2nd round of bidding, do you have any idea to the timelines for the next round of auction process?

Will UBS select the most suitable based on the probability of success that meets the BOD criteria, or invite several buyers to the final process? The latter might extract a higher bid price, but a greater workload and longer time to conclusion.

I appreciate your/other member thoughts.

GLA

Hi All, I hope we can now get back to debating the merits of this RNS and possible permutations of full/partial sale (special dividend?), or JV. If the latter, what will be the timeframes for mine construction, finance approval and dividend stream? Moreover, the SP when production commences.... bravo to all who kept the faith.

GLA

Hi Matt, this has been a long, trying and testing journey. Who would have thought the suspension would have lasted as long as it did? NOMAD-gate indeed. Now NDA in place and the FSP taking forever, all whilst waiting for the DFS to land. No platitudes will help, we need to re-read the RNS and remember why we are here in the first place. Sometimes the grass looks greener elsewhere, but the grass in pretty green here also - and I will keep grazing until Tilly shouts "land ahoy".

GLA

Hi RL, thank you for taking time on a Sunday to explain your standpoint further. Any investment case will change according to the subtle nuances from without and within. I remember the Vertigo days as well as the long list of missed deadlines and disappointments, which continue today. Buffett says we should buy companies, not shares so, despite my first purchase on 15th May 2015, I continue to hold and to add in the belief that the AMC potential will come to fruition. Like most, I’m battered and bruised and hope that the TEO with 2018 drill results are as good as hoped.

GLA

Hi RL, your posts have always helped me understand the complexities of this project and your insight has always been valuable. From a foggy memory, you believed that the addition of the separate copper concentrate made the project more financially viable and you announced that you had bought in again. Clearly you sold and are out. Please can you explain to a novice why you sold? What was the trigger? Did the financials change, were you concerned about the internal politics or simply had better opportunities elsewhere. I’ve been here since pre-licence and have a average of 5p but you remain, FWIW, a respected and valued poster.

GLA

Hi, I am a buyer for the 1st time today at £0.03. Look forward to the ride together.

GLA

Hi Ian, You did and I can see it :-)

GLA

Hi Ian, I am not sure if you picked up my only guess at £0.79. Nothing more scientific that ACF plus 30% on flaps approval. Thank you for all your ongoing and tireless support of the forum.