The company looking to secure "substantially all the assets" were not even interested until the Rosgeo JV. It was after that that they expressed an interest (all in RNS) and it is that deal EUA are progressing with.
So whatever deal materialises will include something to do with the Rosgeo JV. That's a given that people seem to miss when discussing what's going to happen.
They wouldn't appear after the Rosgeo JV was announced and put in an offer large enough to stop the FSP, if the Rosgeo JV wasn't part of the deal in some way shape or form. Remember they were not in the running before the announcement.
Once announced yesterday the remuneration package would have been pretty binding. I would imagine that to change it the needed Harrys agreement. Assuming he has accepted the changes he must be pretty confident that he will hit those targets so my guess is funding is done. Derisks and takes an element of doubt away for me. Very happy with RNS.
From the recent RNS it suggests the potential acquirer was late on the scene, after the JV. It was the JV that made them appear. IMHO the JV will be included in the sale. Otherwise the current bidder would have been in the running prior to the JV being announced.
All speculation! Will be interesting to see how it unfolds.
Sometimes a purchaser just wants the asset and not the company. A lot of historical baggage and legal requirements come with purchasing a company and for a purchaser it is sometimes desirable and preferred to not take on that historical baggage and just purchase the assets to move forward. As Eurasia isn't a household name there is no need to keep the brand, so i can see why a buyer would want to just purchase the assets.
IMHO this is done. All assets sold to the Japanese and i am confident of £1+ hence a decent top up yet again this morning utilising the full ISA allowance for by my wife and myself. Time will tell.......
RE: Just a Reminder of Phil Taylors excellent Assumptions on EUA12 May 2021 12:33
Thanks for the reminder on this Six. Looking closely at the snippet:
"The Directors are confident that the ability to allot securities and demonstrate a capacity to develop the Kola PGM and battery metals district independently of other strategic options available to the Company benefits the Company and its Shareholders by improving Eurasia’s negotiating position."
I have interpreted this as the offers are on the table but not where the BOD think they should be. So they held the EGM, got the votes they needed and have now gone back and said look we can do this alone now up your offers.
Time will tell. Probably both sides playing hardball over price which is why its taking so long but personally i think it will be well worth waiting for.
Couple of key points I picked out. Looks like Kefi has 75% of TK. That's a firm figure in the report. Delay seems to be from Covid and new local investors who are yet to commit (again). Mentions H2 quite a few times so still up to end June a possibility before finance signoff. If Harry gets this over the line sometime this quarter expect the rerate to be quite spectacular.
For me £1+. I would be happy with that price, any less and i will think they have sold too cheaply. Anything over a pound a bonus. Despite a lot of ready and going through a lot of the backs of cigarette packets i still cant calculate an upper limit. Really with this one its finger in the air and have a guess.
RE: Can someone explain what this vote is for please?13 Apr 2021 12:56
I have just voted. You have to ring HL to cast your vote and request a secure message be sent to you to confirm it was actioned. Not the easiest of processes and was on hold for ten minutes before they answered. But i believe this is worth the trouble as EUAA need our votes to get this pushed through and it is a good thing! Trust in the BOD.
Oh Dealer55 that made me laugh. So your logic is that because i don't post much i must not know what im talking about and i must be negative about the stock! I have been in for over two years and probably own more shares than you could dream of. If we get back down to 26p i'll be buying another 100k worth. I am far from negative and have a substantial holding here that i keep increasing. See this as a win/win we sell we make money, we mine we make money. No i don't post much but i read the board everyday and only pipe in with something useful to say. Read my older posts you wont see anything negative. So thanks for the unnecessary comment Dealer55 but you were wrong on this one.
The offer was done right at the beginning. No point both parties incurring excessive costs if they were miles apart on valuations. Once the offer was agreed the ball started rolling. Yes they tried twice to change it. On both occasions i told them to go take a short walk off Tilly's plank.
I have just sold my company and been through the Due Diligence process. It took 4 months and the company was nowhere near the size of EUA. I feel we may have some time to wait still, before there's any bids that will be made public. Based on going through the process and what's involved we might be at the halfway point. What i did learn was the bigger the lawyers the more thorough they are. Expect both parties lawyers to be going through everything in miniscule detail.