....can we give all the childish bickering a rest, it’s just cluttering the board with absolute pish.
Also not sure why a number of posters on here feel it necessary to constantly push back and argue with Happyscot about his valuation. He is not the messiah or some sort of investment guru but actually knows feck all and is just succeeding in winding a few of you up. If that’s the price he thinks we’ll be sold for, so what, who gives a monkey’s .... just take at face value for what it is.
On a positive note, further accumulation taking place today and hopefully further consolidation over the coming sessions.
GLA
Tilly - agree this to me looks buyer accumulation going on. I don’t follow the BB or trading through the day, but does it look to you like a balanced book? If not then where are the MM’s supply of shares coming from.... do you believe they’ve been collecting shares over the past couple of weeks and now moving them onto friendly insti’s?
@Tildo - with respect I’m not sure you understand how a valuation might work for a business like EUA. For a full sale in IMO there is no correlation with the SP.
If you look at the Stillwater deal the price was approximately 17% of the selling price of assets in the ground. Yes there are clearly differences in the the production position EUA is at, but also the costs of production are much lower for EUA.
A 40p valuation would be a very small % in comparison to the 17% used for Stillwater.
It’s obviously very subjective and it could be an asset sale or JV but I firmly believe for a full sale we will see a deal that will effectively value the business at over $3 billion.
What an absolute steaming pile of sh**e posted all weekend over on the Telegram site. Looked in to see if there was anything interesting but just complete nonsense and not worth bothering. Shame as the owner GmF78 posts some really good information.
Stillwater acquisition from my notes and as a comparative...
Stillwater was acquired for $2.2 billion (offer Dec 2016) and was carrying bank debt upon acquisition of $275m.
Stillwater’s proven and probable reserves measured 39.4 million tonnes grading 15.6 grams per tonne for 19.9 million contained oz. platinum and palladium (78% palladium and 22% platinum).
2016 when acquired, Stillwater had average AISC of $622 per PGM mined ounce produced. This compares to EUA of approximately $350-$400 per ounce.
Palladium prices were significantly lower at the time of acquisition at approximately $600/oz.
Hope this helps.
Good article, the message is getting out there. It’s a bit of a shame the comment on the history of V price volatility wasn’t balanced out with the potential leasing option that has been constructed.
@raharh - thanks for your response and good to know that you are still invested here. It would seem that you are still a close observer of the posts on the BB.
I strongly believe that this deal is very much alive and kicking and is probably near the final stages. Just my opinion but I believe HoT’s have been agreed and the final details are being worked through the SPA leading to a formal announcement by the end of November.
Good luck with your investments.
There was a poster on here a couple of months ago who wrote a very interesting and articulate piece about a similar FSP he had been directly involved with and the process / timelines.
I forget the chap’s moniker but Mac copy and pasted it a couple of times as it was very well written.
Anyone know who that was, whether they are still holding and if they are still here, it was be interesting to hear their current opinion of where we currently sit?
The smaller two trades I would defo say are sells looking at the trading band and bid/ask at time of execution. Bid and ask also dropped after these trades into the close.
The larger after hours transaction I believe is not a real trade but a spread bet book-balancing exercise which occurs at the end of each day.
It matters not in the wider scheme of things and I am not the slightest bit concerned.
Expecting the usual Friday FOMO to kick back in again tomorrow. The BoD have a habit of surprising us with timing of RNS’s, so I wouldn’t want to be out over the weekend.
Holding long and strong!
GLA
There was also a further poster (can’t recall the avatar) who had also spoken with Keith about the RNS and was given a similar response. I recall he said that following the conversation with Keith he felt even more confident and so purchased a further 100k.
Should be an interesting week ahead!
GLA