Member Info for Kalan

Good luck chaps - hope I never buy here because the sp keeps going up for you - just posting what I think - sharing my hard work with you - but as usual the lunacy reigns - me and my team - really. Don't need the hassle - be back in a couple of weeks to see how things are going - next rns should be good news IMO - early January - news of cash received from the refinery for minerals processed. There could be another one before then but I hope not for all those invested here.

sxxswe - I have ignored the 50 million - you are correct - they will place instead and it will lower the share price not the market cap.
Yes - donotpanic - I am posting the same again - consistent - I did my research - I calculated the value I chose my price - that will not change unless the situation changes. the sp has fallen because the rns revealed to many who valued the share higher what they should already have known if they had done their research. the information is new to them and many sold up - it's not new to me so my opinion has not changed. If the 50 million had been new to me then I would have changed and admitted I did not know about it - but it's not new.

well it's been two weeks - I said I would be back on the 27th and here I am. we predicted the sp for today -as below:
"2 entrants:
Do not panic 4.5p
Kalan (insert your own pet name for this lowlife) - 2.975p
See you in two weeks for the result.
It's been a pleasure conversing with such fine gentlemen."
The mid price of recent trades is 2.91p.
So we were both overly optimistic on the share price me by .065p and DoNotPanic by 1.59p.
I am out by 2% and donotpanic by 41%. I suppose we were both wrong so it's a draw lol.
So 2 weeks from now anyone wish to make a prediction?

Hi bobby - you make good points. I have done my own valuation and got 8p minimum.
This is assuming the sale is arranged and goes through and that there are no more shares issued.
The question is how much do you knock off the 8p (or7p) for the uncertainties. Until the recent rns - some were prepared to halve that valuation and pay 4p for the shares and accept the risks involved. Now they are prepared to pay less than 3p which is wise as the risks have now been clearly exposed by the rns for those who were so blind they would not see.
Personally I would be prepared to pay 40% of the 8p I valued it at on the risk of bankers agreeing a fee, a buyer being found and a sale actually going through - which gives a 3.2p share price. Above this I would be a seller. We also have to take into account the bankers fees - I have assumed that the limbs will be their reward - I.e. the value of the limbs will go to the bankers. So I deduct nothing from my valuation for the bankers fees. I value the alluvial stuff at 0 - they are making a loss - hence the desperate need for the warrant money to keep them afloat.(note 89% of the alluvial stuff is platinum and they got $550 per ounce for it last year - may be $600 now- not $1800 as some have assumed).
The major problem here is cash flow - they have warrant money and some income at the end of the year. I don't think they have been producing since October and won't until next April so won't get any revenue until June/July - so a long time to survive. A placing will dent the share price and is highly likely - the people taking part will want a large discount for the risk involved and because they have the power - so 2p to 2.5p is likely IMO - if it's 2p I will want 1.8p before I enter here and if it's 2.5p I will want 2.2p. So my target price is 1.8p to 2.2p and I would definitely sell them if it reached 3.2p.
Good luck bobby - don't be swayed by others - choose what you think it is worth and don't pay too much - easier said than done lol. GLA DYOR.

Not positive or negative Tier - hopeful is my reading - the longer we maintain these levels the more hopeful I become that the bottoming is in progress - a bit more time for sellers to hand over their shares and then up we go????

Cheers Topcatz - I think you have hit the nail on the head - having a strategy that you are comfortable with - thanks for sharing yours and good luck with it- it's exactly what I have done in the past - tweaked it this time a bit for better or worse - my rose tinted JLP glasses are damaged at the moment.

I was in SLP for a period on about 5 years on and off Craig. Last buy was at 8p but sold out when I had doubled my money -lol - got that wrong - chose JLP over SLP - wrong again - though I have made profits but less than I would have in SLP.
looks like SLP is ready for a bit of a rally - can't see above 40p myself but a lot depends upon pgm prices. I sold because I could see the production peaking whilst the pgm prices were low. Palladium took off and the board there did a great job of replacing exhausted dumps with new ones. Once again it looks like production is peaking and they have plans to replace exhausting dumps - some of it with open pit or shallow working which I presume will squeeze their profit margins a bit (they currently produce at $500 to $600 per ounce).
They have assets stated at 153 million with a market cap of just over 100 million. Profit after tax of 18 million and 20 million cash at hand with little to no debt.
The rewards for JLP are to get to a similar position - cash from earnings - all the cash JLP has came from borrowing and 2 placings (I have done the calculations) - at some time in the next 12 months JLP will be generating their own cash and paying off debt and we may yet see the stellar rise that SLP has had. The practicalities and technology at JLP is even better than at SLP IMO but the path to profitability has been very poorly planned (opportunistic) compared to SLP.
On the plus note for JLP I think SLP may have seen it's peak in sp terms whilst JLP's has yet to come - however - they have the better corporate team - does that trump the technology advantage of JLP - we will see.

Agree Topcatz - easy to say you made a profit etc after the event - just try posting on any bb that the share price is going to fall and see how nasty people get - most on here are more grown up as you say - but there are still one or two.
For what it's worth I thought 4.8p was the top for this rise and I posted so - I sold out half at 4.62p and then when it fell back and rose again but to a lower high (4.7p v 4.9p previously) - I sold the rest. around 4.55p ish. I have posted all of this before and the target price before it happened.
I was lucky to get out before the board took money offered to them randomly (not because they needed it to grow the company) at shareholders expense.
I posted that I wanted to buy at the same price as those given shares below market price by the board - people on here - some with posts on this page told me I wouldn't get it - well I could have bought at 4.05p (near enough) but I haven't - I know - I am a fool.
I did post that I thought we could see 3.7p as the backstop here and agreed with Jasonx that 3.8p may be a good buy price - well I got accused of talking the sp down for my own purpose.
Totaltrader recently posted that 3.7p and possibly 3.5p were on his radar - the previous day I had done some charting and got exactly those two numbers - I just posted I agreed with him to avoid any vitriol from fellow investors.
In the meantime I predicted small rise to 4.2p and it did exactly that - yesterday I saw a little short term strength in the chart - here it is - enjoy.
Will start buying at 3.8p /3.85p in tranches down to a sell price of 3.7p or 3.5p whichever comes. Keeping a quarter back in case it goes right back to 3p which is possible from the charts but improbable. of course I could be totally wrong. I may miss out on a rise - so be it - it will come back to me later.
There you go - posted entry point and looking at an exit point of 7p to 7.5p before pullback and move up to 9p plus.
Cue personal attacks and accusations of ulterior motives - people are so used to liars and manipulators they can't deal with someone being honest and truthful.
Still furious at what the board did with the so called placing (getting over it slowly). Good luck everyone whatever your strategy - yes even to traders - they are not evil - they just make money their way.

The last 2 rns can be ignored - it's just an extension to make sure the market in the shares is working in an orderly way - they are of no significance.
The earlier rns is telling us all that the market has got way ahead of itself. 2 investment banks are looking at the assets and talking about how the company might realise the value of those assets (there is no way EUA can generate enough cash to develop the assets alone). we are at the early stages - so early that they haven't even come to any conclusions about the best route forward or what share of the sales the banks may take if they can develop an asset to cash solution and then get some other investors interested in those assets. The IFS are so big the board of EUA (having got the warrants away by hyping the prospects to keep the company afloat) wants the market to be aware of the IFS and BUTS - because now they have the cash from the warrants and some income from the refinery to take them to the foreseeable future (early next year) when they will need to raise more cash and no-one who has researched this company thoroughly is going to pay much above 2p (if that much) for shares with so much uncertainty. GLA - Do some research.

Cclore - I know what the company said - I have researched everything thoroughly - the foreseeable future IMO based on my research is no cash needed until February to April timeframe - that is the foreseeable future as far as EUA is concerned. Great potential here - price over hyped that's all.

Andre01 - congratulations on your average share price - at that level I don't think you will be out of pocket by what is to come next.

LB28 is right - palladium price is relevant - that is what the valuation of the mine area has to be based on.
However, in the short term EUA's income is based 89% on platinum as EUA has produced very little palladium in the last 12 months.
EUA actually produce nothing at the moment - mining likely ceased at the end of October, just like in 2018 as the ground will be frozen now.
EUA has income to come from past material sent to the refinery at the end of the year which will see it through 2 to 4 months but there will be no income from mining until June next year.
This is why warrants have been converted to shares to bring in desperately needed cash flow - the latest warrants have been forced through against the owners wishes as EUA are so desperate for cash p.s. I have never seen a company force it's warrant holders to convert before. The cash shortage is also the real reason the banks are not being paid - EUA can't afford to pay them and the banks will levy a mighty charge for this in terms of the spoils of any sale. In addition I believe that the dismissal of the contractors may have been to save cash as they had no income at the time or cash and simply may not have been able to pay the contractors.
Why issue today's rns - well I think they may realise that the cash is going to run out and a placement is need with subsequent dilution. A placing at 2p or lower would appear an awful deal at today's hyped share price so this rns will take the wind out of the sails and make a placing look at a sensible price. This is conjecture on my part.
My de-risked valuation of the company is £192 million plus the platinum producing alluvial assets minus the banks hefty pound of flesh. So about 8p to 10p.
My risked valuation which includes the high risk of dilution through placing(s) and the risk of no deal being done is 1.8p.
Apologies to DU23 for the delay in the valuation I promised when you were the only person being civil on this board.

When the sp doesn't behave as we expect then there may well be something we don't know. For me the financial situation of those involved (the big players) is a bit of a mystery - as Michu points out, other shares have done similar things. As for PI's I think many are hoovering up large blocks of shares being sold by some people with large holdings which for some reason (hedging profits?) they think it is sensible to unwind or maybe have to unwind. I think snaffleman's tactics will bear fruit over the next 6 to 12 months.

Excellent post mcb - the fundamentals matter because they influence the sentiment of investors. however, it isn't the only thing - as Michu has been pointing out - the oily sector is unloved at the moment and people really do respond like sheep. This company is far too complex for the bunch of PI's that circulate around shares - it takes too much hard work for them to work out how to ramp it. The institutions are wary because the company we have taken over went under and the cash flow situation isn't yet transparent - so we have a lack of interest in buying and the usual drift away by bored investors as they see other share with poorer fundamentals rising whilst we fall and drift.
So what to do - well Warren Buffet is about the most famous and one of the most successful investors ever and he would buy on the cheap price relative to fundamentals and then ignore the share price and let the wealth come to him when sentiment turns - which it will at some time. personally I have gone over to his investment style but use the charts to try and get in when it is likely turning upwards so that I don't have to wait and wait for the sentiment to turn. It didn't work here as I invested for the drills and got trapped in by the reverse takeover - the turnaround in sentiment could be slow or swift - just waiting for signs that short term sentiment has turned before buying more and for long term uptrend we will need 27p+ IMO - so the fundamentals underpin the share buy IMO but I am willing to be guided by charts and indicators to see what others are doing - because it is what others are doing that drives the sp - not the fundamentals of the company (other than that is one of the factors that affects sentiment).

Cheers Nen - yes done the calc it is 996 million whereas the websites have 970 million. So hopefully the few who are selling have the shares now and are getting out of the way - just waiting for indicators to turn positive from neutral before I add more. On fundamentals 90% positive and 10% negative but on indicators about 55% positive and 45% negative so just holding out a short while.

Got a bit of a shock when I watched the Brexit party launch - found I agreed with him on almost everything. Not sure about messing with the constitution just because we have had the worst bunch of politicians to set foot in the place for many a year.
Their immigration policy was spot on - respect the Genever convention - take genuine asylum seekers and asylum seekers seek asylum in the first safe country they come to - not travel across Europe to get here.
Their environmental policies are far superior to the Greens - stop paying for renewables that don't work (e.g. airsource heat pumps - get one at your peril) and focus on windfarms and solar panels - let the scientists and entrepreneurs lead the way while governments around the world focus on planting trees and stopping deforestation in order to capture carbon from the atmosphere - highly pragmatic and achievable.
Got to choose between the Conservatves and Brexit party - can't pick any other party and still believe in democracy.

Anyone know for sure if the last tranche of new shares have been issued for trading. Both LSE and Hargreaves Lansdown have shares in issue that indicate they have not but according to the rns they were supposed to have been admitted yesterday - could be that the websites just haven't updated yet.

I was in that sideroom - we were looking at LSE bulletin board posts - MM was in stiches lol.

Got out of the short term one week down trend by close of play which is a relief - it should trend sideways or possibly up for a while from here (no guarantees). Need to get above 27p IMO for an uptrend to set in and the targets after that are 30p resistance and 40p resistance. Support at 19.7p just in case as you never know.

The sp has retested the bottom and holding so far - a nice double bottom would be bullish. The short term downtrend for the mid price is at about 22.5p for the close today - so a finish above 22.5p today may be the signal that the sort term downtrend is over - waiting for this myself before adding any more shares.