Member Info for Iknownuffin

Audit- standard practice for runway of 12 months funding.

EUA had no need to say this currently, could have easily carried on with AR - publishing this at a later date.

Sale of assets priority - this is exactly what they are focusing on within suspension, which length will be purposeful indeed.

🤝

“ InvestAce, You're posts are sounding increasingly desperate for someone who thinks the company has nothing to answer. Why?“

Yes and an account literally few weeks old, RM has had a few LSE accounts also 🧐

Far too much to just be nothing that’s for sure, no smoke without fire and RM past is littered with poo

MAB- I expect a sale of assets but I do not expect anywhere near 70p … pre war this could have been achieved, but post war when you have BRICS nations only and they are very much aware of EUA situation then it will have a range half of that IMO.

Plenty will want to scarper after such assets that is for sure but less than previously.

Good range for me is 15-30p.

I think many have forgotten Blue Mountain news …. Comical that this is where it’s currently sat 🤷‍♂️

“ @IKN; yep no harm in people having differing opinions. Is there a point when you think the BOD should change strategy and go to production ie if the buyer just isn’t going to offer an acceptable price (that shareholders will agree to) our available cash is too low to continue negotiations or just a simple time frame, is another 1,2,3 or 4 years acceptable to you?“

Going into production with all assets is not what I want to see even with SS agreement in place.

There isn’t 4 years available presumably with license expiry, these could b extended but nothing certain so would prefer to wait a little longer for sale.

“ ikn

“ fundraise

- equity sale

Would love to see the marketing strategy for that considering our financial position, even then it’s still one off funding we don’t have a regular income stream.“

I’m sure if PREM can fundraise off actually losing millions a year, I’m sure EUA can 🤣🤝

“ “We have had an enquiry from a company in Russia with undetermined assets to sale. They don’t have any forward income“

Obviously the signed DFS is very much undetermined 🤣, because you haven’t seen such then no potential buyer/s or investors would - similar to the last 26p raise 🤝

WK - very low tax now with commencement of mining seemingly underway.

Make a more suitable statement along with a PI view will not be the same as big business/investors fella 👍

“ EUA being less by professional outfits? You’re living in a dream world, mate. I can understand why you choose to take that route but in all honesty, it’s gonna help you long term.“

I’ll cope with my outlook not an issue , stick to yours 🤝

“ How do you mitigate shortly running out of money with no forward income stream?“

Same as any other company will/have/need-

- fundraise

- equity sale

/

We have

- tax rebates due

- VAT rebate due

It’s not exactly scientific 👍

“ I don’t dispute that it’s in the bods interest to get it sold, but it’s also in a buyers interest to get the lowest possible price. Something that doesn’t get a mention on here.

The bod have said that they are funded to end of Q3, there is concentrate revalued at £3 mil some of which may or may not have been sold. A tax rebate received which extended funding from end of Q1 to end of Q3 maybe more tax rebates to come but we don’t have a forward income stream. We are a company that doesn’t do anything to generate money. Any buyer with a modicum of common sense is going to wait til the bod are about to run out of money and try to cash in.“

Of course a buyer wants this as cheap as possible and the company will know buyer/s will be looking at license expiry dates, cash position etc.

Obviously you would think the company would be mitigating such circumstances as they are being led by very professional outfits irrelevant of CS & the BOD.

This along with many other factors will have/will prolong these negotiations etc.

“ @IKN; with regards to CS, I dispute that he’s the best person for the job. What has he achieved lately, $35m gone for the Rosgeo project, NYUD JORC details never released, Logik JV (wtf was that about), Gowlings dispute (embarrassing), his communication skills are zero, eliminates taking MT to production, appoints YJ as he won’t discuss anything with shareholders, dividend policy, EUA v2. It’s a catalogue of disasters and yet you're convinced he’s the best for the job, what’s that opinion based on? He may be a great Geologist but as EO & now CEO he’s useless and it shows!“

Rosego project which couldn’t go ahead since the war , not really CS fault I must say !!

Legal disputes happen to best friends so again this is business, apart from that the unhappiness regarding info forthcoming - since the war it has been very quiet but I’m sure you would get there must be a reason EUA are not releasing such - stopped ? For many reasons ? I’m sure as hell the company could do without constant emails & phone calls !!! Even if it is now to YJ it will still be a circus. It’s ok to not be in agreement though 👍

del

“ this was the last operational update on 7 dec 23. i know it’s been discussed previously but imo if there is nothing concrete in the annual report (whenever we get it) ref selling the assets the bod needs a complete change and we should go to production! i know it won’t happen as cs doesn’t want that but ffs selling the assets just isn’t happening.“

i have no issue with frustration at all but

there is no way cs can make a sale of assets quick, most companies interested will be trying to take the **** without doubt in many ways.

we have no idea how much time & effort cs & the board have been putting into such either, which could never be rns d.

how many changes could have been happening during any talks with potential suitors ? i could go on and on but i’m sure no matter at his age, the amount of time working for the company which so many are dismissive of with lack of progress ( ridiculous seeing the amount this company has come on ) and his holding, he will be going as quick as this allows him.

is there anyone better ? well he is very experienced within his role, huge experience with dealings in russia so would be extremely doubtful anyone could have a better cv in such.

so many angles to a sale of assets it’s incredible and hopefully he gets this over the line soon enough.

Searcher, sadly this corruption is very much not isolated to Bangladesh….. common practice within the western world also ……hopefully the pushing this information within the public domain helps the Bangladesh people and gets the P mine up and running 🙏

James, if sense is talked it’s very hard to disagree.

Perfect economic sense along with future is too side by side old/new, pity most governments cannot do such …..EV in the UK being the perfect example currently.

In B, using existing own coal will scrap other nation dependency, allow growth, jobs & security and within the riches they have can develop world beating green technology.

James

Couldn’t agree more 🤝

Bill -

Point is , excuse/reason for delay accounts is accounting within Russia. The accounts should show little change with stockpiles etc.

Until the turn of this year there would be no stockpile sold given tax case was ongoing ( rightfully taken on by the company also I will point out ).

So for me absolute tosh of an excuse, getting into Russia was/is very simple and no auditor as pointed out by another poster here would have zero scooby doo in working out any concentrate piles and would be given such quantity/value/etc by a third party taking legal responsibility of such information.

Why this has been clearly been used as a reason to be suspended has to be taken by each individual but for myself I’m very confident it’s for a very good reason.

Time will tell …..

“ IKN......do you think that an auditor signs the books off before or after a stock check?.

"While verifying assets, the auditor should pay close attention to the following: Whether or not all assets are listed on the balance sheet. Whether or not the valuation was done correctly. Whether or not assets existed on the date of the balance sheet and were owned by the company."

Don't believe me......believe all the experts.

That's just one of hundreds of similar answers that you will find if you can get your head from wherever it is.“

Read my message again if you can head from your ass 👍

“ The auditor could not make an accurate assessment of something like PGM concentrate, but may ask for physical proof of its existence “

Completely irrelevant to the accounts -

No change from accounts in ‘22 to ‘23.

If looked as EUA have sold half of concentrate ( per JM interview ) this would be in ‘24 accounts anyway.

Travel arrangements to Russia hasn’t changed for over 2 years - into Turkey - Russia.

Also noted - tax court case was finished a few days prior to Xmas so doubtful to sell any concentrate that year.

Sausage , have you chatted to Mike ? Careful how you answer 😉

🤣🤣🤣🤣…..well done sweetie ♥️