Member Info for Jarv55

Why would a company change from an AGM to an OGM?

A company may choose to change from an Annual General Meeting (AGM) to an Ordinary General Meeting (OGM) for several reasons. Here are a few possible motivations for such a change:

Enhanced inclusivity: An OGM allows for greater inclusivity as it enables shareholders to participate in decision-making processes remotely. This change can be particularly beneficial for companies with a large number of geographically dispersed shareholders or those who may face challenges attending physical meetings.

Cost savings: Organizing an AGM often involves significant costs related to venue rental, logistics, travel, and accommodation. By switching to an OGM format, a company can potentially reduce expenses associated with physical meetings, especially if a virtual platform is utilized.

Flexibility and convenience: OGMs offer flexibility in terms of scheduling and participation. Shareholders can join the meeting remotely, eliminating the need to travel to a specific location at a designated time. This convenience can increase participation rates and engagement from shareholders.

Adaptation to digital trends: The advancement of technology and the increasing reliance on digital platforms have prompted many companies to explore virtual meeting options. Switching to an OGM aligns with the digital transformation trends and allows companies to leverage technological advancements for efficient shareholder communication.

Regulatory requirements: Some jurisdictions or regulatory bodies may introduce or amend laws governing shareholder meetings. In such cases, a company may be required to change from an AGM to an OGM to comply with updated regulations.

It's important to note that the decision to switch from an AGM to an OGM is specific to each company and its circumstances. Factors such as legal requirements, shareholder preferences, and the nature of the company's operations can all influence the decision-making process.

I know nuffin get a grip change is due to it being virtual and no one is attending.

There is no difference between an Ogm and Agm

The JV has not fallen through however the deal is complex, all the licences are consolidated and integrated into the JV then there is the change of control to Anglo, the control requires MOM approval and tax clearances. Once that is done drilling can begin.

Great news today good to see the de-rampers get this very wrong.

Lol Francis you are really sounded desperate now. Good luck to all the longs.

Management of the Company has also evolved in parallel with the other changes. With the completion of the Monchetundra DFS, the open pit mines are ready for construction. While we have a EPCF agreement for the development of Monchetundra, the Board do not believe it is appropriate to commence immediately due to the ongoing sale process of the Russian assets. It is expected that counterparties will have their own plans for future development, and it is important to leave such options open. In that regard, James Nieuwenhuys, an EPC expert, has retired from Eurasia. The Company is grateful to James for his excellent work as CEO since 2020 and wish him well for the future.

Further updates will be made as appropriate although there is currently low visibility as to when this might be. As ever, there can be no guarantee that Eurasia will enter into binding agreements regarding the sale process. Can't wait to see the DFS.

Chairman’s statement

The year 2022 stands out as a uniquely challenging year not only for Eurasia, but also for the entire mining sector. Apart from the Ukraine conflict which hit the world hard in February, the entire industry has been disrupted by supply chain interruptions although this has, however, resulted in positive price changes for EUA’s metals.

In the meantime, work has continued on optimising the asset base prior to a possible sale.

West Kytlim

We took the decision to stockpile the ore from West Kytlim and not to generate revenue from Russia in 2022 due to our strong cash position and the expectation of improving prices in the future.

The West Kytlim mine saw significant investment over many years culminating with a conversion of operations from diesel power to electricity powered equipment and infrastructure. Hydro-derived grid power and an electric dragline installed to site. This allows stripping work to continue through the winter, with the accommodation and office also on the grid. Significant reductions in operating costs have been achieved.

As previously announced, we took the decision to stockpile the mine product (a 'black sand' concentrate containing platinum, palladium, iridium, rhodium and gold) from West Kytlim and not to generate revenue from Russia during 2022.

Monchetundra

DFS

At Monchetundra, the DFS study for the several open pits at Loipishnune and West Nittis was completed for the project's development and submitted at the end of 2022 and the Company was notified that all authorities were received at the end of June 2023.

NKT / Monchetundra Flanks

The NKT project comprises a brownfield Tier-1 scale deposit: 305Kt of Nickel, 143Kt of Copper, 57 tons of PGM and Gold (11.2Moz of Platinum equivalent) as estimated by Wardell Armstrong International as JORC-compliant resources for an underground mining operation. We continue to look at the potential for additional mineralisation on the property. For now the NKT Project sits as considerable upside adjacent the Monchetundra asset.

Nyud Project and Rosgeo agreement

Eurasia retains a right to 75% of the Nyud exploration licence, which was applied for and later received by Rosgeo’s subsidiary OOO Monchegorskoye with an intention of establishing a joint venture with Eurasia’s 100% owned subsidiary, Yuksporskaya Mining Company, pursuant to the now expired two-year agreement between Rosgeo and Eurasia as announced 26 March 2021. The project is now being considered in the context of the Company’s proposed asset sale.

Possible sale of Russian Assets

The Board remains of the view that any buyer is likely to be found in BRICS countries. This process has now run on substantially longer than the Company's management team had anticipated. We acknowledge shareholder frustration regarding the duration of the sale process, however, we also note recent precedent transactions which have successfully completed despite the geopolitical situation.

Francis i can't wait to see you have egg all over your face and it is coming mark my words.

West Kytlim

• Mine product stockpiled with an approximate PGM concentrate value of £4.1 million (net of VAT) at 31 December 2022 is securely stored.

• Electric dragline, power line and high voltage substations were the final CAPEX items to optimise and sell the asset, with no further investments envisaged going forward. VAT is also expected to be receivable on the historical capital investment cost.

• All stationary plant, machinery and buildings are connected to hydro-derived grid electricity.

• Good safety record with zero injury rate.

In June 2023, all the relevant authorities approved the definitive feasibility study for the Monchetundra mine comprising open pits at West Nittis and Loipishnune, which the Board believes will be an important milestone for the Company in achieving a full exit from its Russian assets.

Nice one Splatted I am sure your nephew will thank you in his later years. All I see is a sea of Green.

Https://www.youtube.com/watch?v=Hg6YS6qp52M

One step close will be a big shift in the Stablecoin market when this gets passed. Tick Tock.

https://bills.parliament.uk/bills/3326/stages

Well now that news is out of the way the directors are free to buy.

Https://www.gstechnologies.co.uk/investor-relations nice to see they updated on the 23rd of May the shareholder list.

Just waiting for Roger to say he has bought in know the game folks.

It nearly did 500% in March

Katstrangler think you forget how fast Gst moves when it has the herd behind it.