Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
From the Annual results 29 Jun 22:
"The Company continues to progress discussions with regard to the potential sale of its assets, appointing KPMG Russia as agent in May 2022, and has set aside sufficient funds to complete and submit a Definitive Feasibility Study for the Monchetundra project in November 2022."
DFS and sale mentioned not just in one paragraph, but in one sentence. We're told separately in the same report that KPMG were brought in for the asset sale strategy, so from this you might assume the DFS was a key component to the asset sale plan, as of last summer. Whether that's still the case remains to be seen.
From the interim report 30 Sep 2022:
"We expect potential buyers to remain anonymous until the Company is in a position to execute a legally binding agreement and further updates regarding the sale process will be made as appropriate."
Fingers crossed we are somewhere close to a finish line. Patience required. GL all.
In terms of whether HC Wainwright actually did the report or not, it seems to be legit. Eurasia retweeted it here 1st Mar 22:
https://mobile.twitter.com/eurasiamining/status/1498576689844170752
I remember seeing the 70p valuation go by on twitter, but never saw the full report. Trawling twitter again now I can see it was mostly see it was highlighted by this account:
https://mobile.twitter.com/bluey_reports/status/1500573422870581250
For any of you who know of children's tv, Bluey and Bingo are brother and sister from the same TV show. So I would say that the tweets today are either a copycat or the same person..
One question I have from the tweets by bingo today of the report (presuming that it's legit and not a very elaborate attempt at HCW's report), exhibit 29 on page 24 highlights a "Nitjes" exploration licence, might have missed it, but I've not heard of this before. Anyone got any ideas? Alias for NKT... google yields nada.
Cheers, M
Absoloutely this IMO. "We expect potential buyers to remain anonymous until the Company is in a position to execute a legally binding agreement and further updates regarding the sale process will be made as appropriate."
Euraisia "The Company" is not currently in a position to execute a legally binding agreement. We are waiting on something, wonder what it is... :)
Agm 28 Jul '22
"Agm over. Very few questions. They have confirmed that the party that completed dd are still at the table and they are still working towards concluding a sale this year."
This is what was said in LSE on that day, by one person from what I can see. Can't verify it as I wasn't there.
Let's hope it holds some truth :)
https://www.morningstar.com/stocks/xlon/eua/ownership I believe
Some disgraceful characters on here, half with some sort of agenda and the other half seemingly just here to boast and gloat over today's drop, because an asset sale is still not here yet. As others have said, they are best to be ignored.
Got tired of seeing a terrible estimate against AMC. It's tough to do a more realistic comparison of AMC's Kun Marie Nickel asset to our assets. It's a different fish, but here's a go of it. Using today's nickel prices Kun Marie is more akin to $35 billion. EUA has 184.6 m/oz plat equivalent of Kola resource, in today's spot price that's just over $150 billion. The Offer at AMC, which was rejected, was $105m (over many years IIRC) which equates to 0.3% of the asset value. Using that same measure on EUA you get $450M (£370M). Given our current shares in issue 2.854B , this equates to just under 13 pence a share. More than double this share price. Not that EUA/we would accept a 13p offer, but at least for me pins some value on ours given the current climate.
This direct comparison also excludes other factors at AMC such as the much higher infrastructure roadmap for that asset, the fact that all the Kola assets are placed like spokes in a wheel to the NN plant at it's hub. The more positive financial position of EUA, and an ever increasing output from a producing mine at WK which we can lean on more and more to prop up some of our finances and therefore improve our negotiating position. We will also get some higher traction when our JORCs start coming through. Happy for some of the wiser posters on here to dissect the above. Apologies if it's been done before and I've missed it, I try not to consume too much of this board and only look out for a handful of posters, LB springs to mind!
As always the BOD is going to do what's best for them as the biggest holders of shares, they even highlight in the report the long tenancy of the staff, they want this done too. For me the real critical part is that there are still interested parties. That's at least two parties at the table discussing this, some sort of competition between them driving a better price for us. All the best, Matt.
when the share price was 35p or higher (I think Sept last year was the most recent).
If it's of interest, from my spreadsheet based on 2.854 billion shares. These are rounded figures.
Share price (in £'s) / market cap in billions £
0.175 0.5
0.35 1
0.526 1.5
0.701 2
1.051 3
1.402 4
1.752 5
2.102 6
2.453 7
2.803 8
3.153 9
3.504 10
I get that it's frustrating, we'd all like news, but it's like we're all climbing a mountain together and you're (unhelpfully) moaning all the way to the top, while the "rampers" are saying, come on, next bit over this, let's go and trying to spin it positively. You could argue that a half way house would be more balanced, but i'd prefer a positive spin than a negative one.
If the BoD haven't released the WK prod figures or licence updates or sales news, its either: they can't, or they won't. But being the biggest shareholders, they will do what's best for the long term of the SP to the benefit of themselves. As many have called out before, run of the mill updates don't do much for SP anyway, so if you're just asking for peace of mind then go back a few weeks for "everything as planned" RNS's. I've been here 2 years, some people a lot longer than that, what's another 3, 6 , 12 months to see 60-70p or higher as a lot of people on here hope for.. I don't get the impatience of others. Just blooming wait. If you don't want to wait, then get off the pot. Wednesday saw double your money if you topped up at 6/7p. I think this will chug up a bit (albeit on a bumpy road) with next week ISA top ups, many on here have said they will and I will raid another piggy bank to start using that allowance.
This is a gift at these prices, if you don't believe that you're in the wrong place, just see this as an opportunity and make advantage of a terrible situation. Hope the carnage ends soon. Peace.
Kola Nickel marks the start of our plans for 2022, with much more to follow as we successfully conclude our initial strategy and develop EUAv2.0 https://twitter.com/eurasiamining/status/1482004609698865154?s=20&t=IMktIaWp3zPIrMg5qWG7mQ
Company tweet on Jan 14th. I read that to be EUA 2.0 and an asset(s) sale by end of 2022. Appreciate not as binding as an RNS, but good enough for me.
Whilst an update on WK, JORCs or other non "liquidity-event" puzzle pieces would be nice, we've all seen how muted the SP is to such updates. Even the Rosgeo JV RNS was a brief few pennies spike and then back down within a day or two.
You have to keep thinking about the BoD's money in this, it's perhaps the key fundamental of this investment, they will do what's best for them, because they have the most to gain. We are just fish in the wake. This war is horrific, I am sadly stuck consuming far more news than I would like to in order to search for hope of a successful peace arrangement, I am not sure how close we are to that despite the news flows. However I have to, perhaps controversially for this bb now, bend my view to see this as win-win for us, the BoD will deliver this to some value at some point (their promise of before the end of this year is, I believe, the first hard timeline they have committed to yet!), and in the mean time I get to top up sub 10p when I can. I appreciate some can't/won't do that, but my average is chugging down (it was high 20's) and i'm still really hopeful that we will have updates of something binding before end of this year. More patience required, it's tough, the value is there. Just my thoughts, GLA
The meeting between the Russian and Ukrainian foreign ministers, Sergei Lavrov and Dmytro Kuleba, in Turkey is over with little progress appearing to have been made. - Guardian 10 mins ago :(
Lets hope they get something to stick in the next one.
A short closed back at 1:55pm today. Only showing now.
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
07-Mar-22 13:55:27 6.50 417,483 Unknown* 8.50 9.00 27.14k O
07-Mar-22 13:55:27 6.50 -417,483 Unknown* 8.50 9.00 -27.14k O
07-Mar-22 16:47:57 8.849 812,667 Unknown* 8.50 9.00 71.91k O
07-Mar-22 16:47:57 8.849 812,667 Unknown* 8.50 9.00 71.91k O
07-Mar-22 16:35:06 8.70 50,000 Sell* 8.50 9.00 4,350 UT
07-Mar-22 16:30:08 8.685 57,525 Sell* 8.50 9.00 4,996 O
07-Mar-22 16:29:50 8.70 109,185 Sell* 8.50 9.00 9,499
lots of people who got in at sub 7p, or still concerned are selling into this boost. I think we will rise a little later in the morning. Can't see an update on https://www.morningstar.com/stocks/xlon/eua/ownership for increase ii's holding yet, but I was expecting further increased holdings. GLA.
sorry, though BR was massively increasing their position? Not sure what today brings in particular that wasn't around last Friday at 14p. What is the answer to buys outweighing sells then? Why the stepped drop off, where it's held for a couple of hours, drop it down a penny, then repeat? Why raising now, despite the buys all day?