Member Info for Jarv55

Trump has said he wants to cut taxes and bring down debt unlike our useless government he wants this war and the war in Gaza to end. I think he will do everything in his power to get around the peace talk table.

Https://www.reuters.com/world/russias-medvedev-says-trump-presidency-would-be-blow-ukraine-2024-11-06/

Brilliant news that Trump won now hopefully peace talks can begin.

(9:08) Great, thank you. (9:09) Ordinary Resolution 4 is for the re-appointment of Tamerlan Abdikiev. (9:14) Tamerlan was appointed during 2023 and is the highest paid director.

(9:18) Can you provide some update to justify his re-appointment? (9:21) What is the rationale behind the change from non-executive to executive director?

Christian

(9:26) Well, when our CEO departed in 2023, my workload increased significantly, and Tamerlan happily was ready, was prepared and ready to provide assistance over this last 12-month period where I was working on my own executive level. (9:45) In addition, it's worth mentioning that until recently, our banking was exclusively done through a Japanese institution, and he's a resident there, so he managed the relationship. (9:54) And then I shouldn't underestimate his contribution in the sale process, where he was very active with respect to certain Asian and Russian counterparties. I really do think GL that you should listen to the webinar to get an understanding of how difficult it has been for management its very easy to judge while not walking in their shoes.

(4:49) Do the board of directors think they can avoid discounts, haircuts imposed by the Russian government and companies from non-friendly jurisdictions that are seeking their Russian assets?

Christian

(4:58) The answer I'll give you is the same as the one that I gave just a moment ago, and that is we are looking at all the options on how we could structure a sale. (5:07) And again, we will report on that as they arise. (5:12) Have there been any offers which you've declined?

(5:16) There have been offers, and some of them actually, going back to before the Ukraine crisis, were largely from Western companies. (5:25) But obviously, they didn't progress for various reasons. (5:28) And the geopolitical climate is the main reason why it has been far more difficult to find satisfactory counterparties.

(2:04) And there are, as I said, quite a number of people still looking at our assets.

From the webinar

(1:43) We have a big data room with a lot of material in it. (1:45) And there are a number of parties in it at any moment in time. (1:48) And you may remember that last year, we were advancing discussions very close to conclusion with one party.

(1:56) But unfortunately, this did not proceed to a formal term sheet. (2:01) So it was disappointing. (2:04) But we continue.

GLG no offence but don't think you realise how difficult it is to navigate through sanctions. Do you honeslty think CS is doing all this on his own? The answer is NO. All board members will be helping to try and get us a deal of some kind. Do take a look at their Cv's to understand they do have a lot of experience. Let me give you a scenario just before the war was announced you have a deal you are just about to sign after years of dd and jumping through legal hoops, getting it to a term sheet with a Western Company for a decent price. You are waiting on the final signature when the war breaks out. Western company obviously pulls the plug. You then have to learn about all these different sanctions that will effect the UK Plc. You get told to keep your head down best not to make any noise to draw attention to the fact your company is in a war zone. All those years of work gone. You now have to get another buyer lined up you know a Western Company won't touch it. There are other interested parties but they now want a bargain lets say they are from China. You get very close again to siging another term sheet and suspend the stock to announce, but for what ever reason that buyer decides to turn the screws to try and get an even cheaper price. You can't go into full mining due to most of the labs you use being under sanctions the banks you use can't get money to the UK. You are trying to keep the mine in a good standing order but again have to be careful due to sanctions, you have had to let a lot of the work force go. You have a lot of shares in this company that was supposed to be your retirement fund, all your years of hard work snatched away. But instead of folding and walking off into the sunset, you pledge your shares to get a loan so that you don't have to take a hair cut on selling the concentrate. You then along with other bod members decide to cut all costs of the UK PLC to the bone in particular to stop drawing wages for yourself. You know you are sat on very valuable assets the buyers know this as well. You know the Chinese are trying to screw you over as they are in a position to do that. What do you you do give up? Or find a way of saying up yours we will get value and we will do it our way?

GL you want to put Cs out to pasture, who will you replace him with? Do you know any expeienced geolisgists with 22 years worth of experience working in Russia or anyone who knows how the leglities in Russia work?

Eurasia Mining Version 2.0

- Version 2.0 is currently on the back burner.

- Key strategy is selling assets.

- Proceeds from sales expected to fund special dividend of at least 80% for shareholders.

- Discussion on Version 2.0 will occur post-finalization of Version 1.0.

Shareholder Voting and AGM Resolutions

Concerns about claimants disrupting AGM resolutions.

- Company is no longer a party to disputes over shareholdings.

- Importance of shareholder support for Board actions.

- Need for flexibility to minimize costs and secure third-party financing.

- 600 attendees registered for the webinar indicating shareholder interest.

Company Commitment and Challenges

- Commitment to achieving results despite third-party constraints.

- Ongoing difficulties due to sanctions affecting routine operations.

- Core team has extensive experience in project development over a decade.

- Appreciation expressed for shareholder engagement and feedback.

- Hope for continued support leading up to and during the AGM.

Communication and Strategy

- Company communication has been a sore point with shareholders.

- Legal advice limited engagement during the crisis.

- Strategy focused on efficient sale of assets.

- Aim to retain or improve asset value.

Management Confidence

- Board members have pledged shares and deferred compensation.

- Confidence in the company's future and asset value.

- Key milestones expected in the next 3-6 months.

- Improving listing and liquidity of shares.

Management Buyout (MBO) Considerations

- MBO is one of several options being considered.

- Outright sale or partial sale also on the table.

- Concerns about management buying at low prices.

- Maximizing shareholder value remains a priority.

Sinus Steel Contract

- Sinus Steel contract remains active.

- Can be activated by the company or any third-party operator.

Sinus Steel Contract (20:03 - 25:40)

- Includes financial facilities and EPC contract.

Webinar conducted by EUA Investor Meeting.

- Webinar conducted by EUA Investor 620 attendees.

- Over 300 questions submitted.

Asset Sales

- Current status of asset sales.

- Process ongoing with several parties reviewing data.

- Previous discussions were close to conclusion but did not result in a formal term sheet.

- Interest in assets and timeline for deals.

- Unable to predict when a formal term sheet will be completed.

- Need to maintain ground standing and meet costs of parent PLC.

- Credible buyer linked to Russian management buyout.

- Maintaining dialogue with a large strategic investor since September 2021.

- Preferred route to conclude asset sales.

- Binding agreement leads to a general meeting for shareholder vote.

- Impact of recent political orders on business.

- Exploring legal alternatives for structuring a sale.

Operations

- Plans for mining if buyers are not found.

- Licenses in good standing; joint development of NKT project and Montsatundra proposed.

- Decision to take a trade loan despite stockpile availability.

- Statutory approvals required to get funds to the UK.

- Efforts to minimize costs and prioritize asset sales.

- Company’s financial flexibility and working capital needs.

- Working capital can be sourced from concentrate stockpile sales.

- Cost-cutting measures in place for PLC.

Governance and Management

- Active NDAs for confidentiality.

- Non-disclosure agreements with parties interested in projects.

- Connection with SR.

- Artyom, a director, works with SR.

- Reappointment of Tamalan Abdiqiev.

- Increased workload post-CEO departure and significant contributions to banking and sale processes.

Financial Overview (10:00 - 19:58)

- June 23: 3.5 million sterling.

- December 23: 2 million.

- Current: 5 million.

Loan Information

- $1.3 million loan secured by Russian subsidiaries.

- Loan is a normal working capital loan for Kuzminski Cannon at West Kiplum.

- Based on managing cash flow and seasonal production.

Mining Interests

- Interest in mining Watcha Tindra.

- Main asset alongside NKT project.

- Significant interest from potential buyers.

Dual Listing Plans

- Aiming to complete the listing on AIX.

- Short-term goal, requires local counterparties' cooperation.

- LSE listing will be maintained alongside Kazakhstan listing.

Share Price and Valuation

- Previous share price of 42p impacted by geopolitical crisis.

- Current share price deemed less than asset value.

- Fair value assessment for potential buyers.

- Binding offers will be presented with board recommendations.

Plenty of questions have been submitted. Would expect them to talk about their strategy going forward and the reason for the second listing. The way I see it the bod are not drawing any wages, they do have a large amount of shares so are aligned with us, they can only get cash out by generating value in the company. I don't think CS would of locked his shares in without having some kind of plan.

Think we would all of liked to hear DS speak. But maybe its a conflict of interest for him to do so at the moment.

Looks like DS won't be at the Webinar after all https://presentations.investormeetcompany.com/investor-meet-company/EURASIA-MINING-PLC-Investor-Q-A-session?bmid=c8a7c5141e2c&s=35

Lovelyboy I don't think anyone has fallen out would say they were all aligned seeing how many shares they have.

Out of interest can anyone see their corporate actions on AJ Bell?

I hope DS gets a chance to talk.

Https://presentations.investormeetcompany.com/investor-meet-company/EURASIA-MINING-PLC-Investor-Q-A-session?bmid=b0a3b0a945e8 Webinar will be recorded.

Presenters

Christian Schaffalitzky - Executive Chairman

Iain Rawlinson - Independent Non-executive Director

Tamerlan Abdikeev - Executive Director

Kotaro Kosaka - Independent Non-executive Director

Artem Matyushok - Independent Non-executive Director

Dmitry Suschov - Mergers and Acquisitions Officer

If they did get a MBO and our shares got bought from us I assume they won't need a Lse listing. So won't need cash for that.