Member Info for Ibizamatrix1998

Hi Bundle, After-hours release of an RNS generally is to hide uncomfortable or negative news. I would hope for a posiitve RNS before the market opens with enough information to drive the SP higher. I'm interested in the terms of the facility deal, recent tax wins, cashflow, concentrate sold and the value of what is remining. I expect the usual NDA terms but can we hope for a clearer path forward? Or is it a case of "we now have funds to Q4 2025 and fingers crossed the SMO comes to an end".

GLA

Hi Spud, Good to see you're still around. I had a guess of £0.79 back in the day which was reduced to £0.49 due to the SMO. I am happy to stick with that assessment which ws a lot lower than concensus. I think there will be the accounts this week and that will shine a light on where we are. Someone commented that by EUA obtaining finance, the lender would need to have more information and guarantees for repayment, so that should be considered a positive - despite cashflow concerns. In to the the end after 8 years.

Straight jackets and padded cells all round.

GLA :-)

Hi Bonzo, EUA might deliver the accounts on time and tehy are known for leaving it until the last minute to inform the shareholders. I fnot, due to beieve it is ineptitude and a lack of control behind the scenes, or that they hope to ink a deal whist in suspension?

GLA as always.

Hi all, how many are of the opinion that EUA will max out the 6 months with the hope of inking a deal in that time? Or perhaps that it is just been an asset revalaution and accounting issue?

GLA

Hi Itsouthere, I think the HCF "prediction" was £0.70?? Does that sound about right? I would be happy with 50% of that!!

GLA

Hi Lenoman, I have been invested here since 2016 and thought that the sale would be over the line well before Feb 2022. After being invested for so long, I am happy to keep holding and I admire your recent buy but I think this is now a coin toss despite the ACF valuation back in the day and the BOD, NOMAD and RNS hype around this share. Sadly, even the external professionals, banks etc have been unable to get pen to paper despite the massive resources/reserves and global demand for PGM. Great to see some old names still posting.

GLA

Hi LB, can you hazard a guess as to how much substantial ground could have been prepared/moved in 8 months based on the satellite images? I would like to understand how positive this is for EUA.

GLA

HI GM402, Whether 'tis nobler in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles. I'm all for the former and remain hopeful. Still checking in to read the comments of the LTH. The DFS is the known unknown but would dearly like to know if there has been considerable uplift to the reserves/resources and translate that to a potnetial SP or TO value. Enjoy the weekend.

GLA

Hi Seamus, do we know the amount for the 2nd tranche of tax refund? That may give liquidity until the year end of 2024 if needed - although I sincerely hope not! Good news today and a small sigh of relief.

GLA

Hi Ian, I hope you are well and all the best to The Old Guard too. Still invesyed and remain hopeful based on the RNS until they tell us otherwise.

GLA

Hi Donkey, agreed. It wasn't the calendar year, it could be the Russian New Year, it could be before the AGM in July 2024 or their financial year end. I have been here since 2016, so either way - for me at least - it is not long either way. Could be a moot point if the money runs out.

GLA

Hi James and Happy New Year to all. Please make sure you save some of those beans and fish fingers as we may need to add those to the expanding menu options for the sale party in York! It feels like the final furlong now with the cash due to last until the end of Q1. Still holding for a £0.49 conclusion. Where's Tomyshu with his £3.59? I miss those heady days.

I admit to holding on throughout for the sale which appeared imminent with dividend disclosure RNS, massive dividend payout mentioned (NOMAD), the extension licences, major banks involved, ACF report, buyer due diligence completed and professional fund raising completed (scaled back in fact as they wanted more).

GLA and not long now either way.

Hi MrBrian, MT is 1.9moz (PGM equivalent) unless the DFS has upgraded this?

GLA

Hi Jamie, I have held since August 2016 and I have not sold as I was expecting a sale and I followed the RNS/NOMAD - only time will tell if this is either my biggest investment win/loss ever (not selling at the highs). Not sure what prompted the RNS yesterday, but all/any intersted parties now know that there is no mining, no stripping overburden, but with cash burn and a timeline to run out of cash at the end of Q1 2024. The dice have been rolled - let's see where they end up. In to the end either way! Mermaids Bar & Grill in York?

GLA

Hi Del, I contacted EUA on 28th November and here is their response received the following day. They have the mining experience firepower to get this over the line all thing sbeing equal. Still hepeful, but sadly not in 2023.

Many thanks for this message of support for the Company in its current work streams, this is appreciated. The Company will continue to meet all obligations as regards material updates under MAR and AIM rules. Meanwhile your request for updates/clarifications on the specific items mentioned below will be considered by the Board in a subsequent RNS update to market.

GLA

Hi Del, I emailed the company today and I am yet to receive a reply:

I have been a shareholder since August 2016 and I have continued to hold with the belief that the Board are acting in our best interests. I have contacted you before and you acknowledged the frustration and that there are a lot of questions that remain unanswered for the shareholders or are covered by NDA’s.

You have reiterated your focus is on a company sale and that EUA is not affected by sanctions due to the ongoing tragedy in Ukraine. However,

• Many professional people have been added to the Team to expedite the sale - without success to date.

• The concentrate remains unsold.

• The DFS and any JORC update remains sealed despite potentially being a positive for the share price and despite being approved on 23rd July 2023.

• The interested party remains at the table despite DD being completed on 28th October 2021(!)

The share price has been decimated reflecting that the market has no confidence in your ability to get the sale over the line. Many investors have followed the RNS's about a potential sale, NOMAD comments and a dividend payout only to have been betrayed by the current business strategy.

Irrespective of my comments, I am still very hopeful that the Board can announce the sale by the end of 2023 as alluded to at the recent AGM, not least because you are the biggest shareholders and you are experiencing even greater financial pain. If there is no sale, I am convinced that this will do irreparable reputational damage to the Board and their overall competence.

I remain invested for a positive conclusion and look forward to an improved frequency of communication when possible.

I now expect a pile on, but atleast it is out there.

GLA

Hi Richard, if this goes to plan, then you may not need to invest anywhere again :-)

I do hope that CS being "very hopeful" of a sale before the end of the year comes to fruition. It is a bold move to stop production and both the EPC contract with financial support and loan facility by simply crossing his fingers and hoping for the best.

Year end SP 2.5p-3.5p. Sale SO 49p

GLA

Hi Robinson at al, does anyone have any idea as to the legal processes which are to be resolved before the DFS & JORC can be released to the public? This will allow the market to revalue the SP accordingly? Thank you for re-posting the summary as this oftern gets overlocked (deliberately?) in this BB.

GLA and good to hear from Ian and Tilly recently (and other LTH)

Hi, My £5K buy at 10.47 is also registered as a sell.

GLA

Hi Johnboi, I would be happy with the conservative valuation based on current events.

GLAGSH