The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
"Directorate Change
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.
Konstantin Firstov, our CEO at Kola has been appointed the Country Manager and at West Kytlim, newly appointed CEO Vasily Kudrin is in charge of pre-sale activities. Vasily has a strong audit background with Ernst & Young and other firms in various senior roles including a partner position."
"Vasily Kudrin is in charge of pre-sale activities" - Arranging office closures, Champagne ordering, party nibble ordering etc etc lol
GLA
The nonsense spouters would have you ignore what has been officially released as the sale process has went on, like these snippets -
"Since launching the Formal Sale Process on 1 July 2020, Eurasia and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the Company as well as other transaction structures."
Fully financed, they could start if immediately using the DFS if it wasn't being sold -
"Monchetundra is located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula and is fully financed through to production via agreement with Sinosteel."
It's been advertised for sale from the very start under NDA's -
"All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid."
Don't listen to any of the charlatans on here, all info in is RNS.
GLA
Yes, no mention. What are you guys like, you all keep ignoring what is in black and white in recent RNS, again, pre-sale activities.
NDA's were in place for Monchetundra from the start, you know that from historical RNS, NDA's never change in an asset sale environment.
And of course, if the assets were not being sold then they would be taken to production, all of the means to do so are readily available to the company, they have been for a very long time now -
"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."
If they were going to start and break ground, they would do so immediately due to the weather at Monchegorsk. The weather is fair there at the minute, perfect for making a start, but, the have chose to sell the assets and hence not start the EPCF contract.
You literally point blank ignore what they release and just make up a load of nonsense, and for that reason alone you are green binned!
Have fun banging around in there with the rest sweet pea!!
GLA
Https://www.moneycontroller.co.uk/finance-news/eurasia-mining-plc/notice-of-egm-60202
Just in case some try to pretend that the information has not already been released previously.
GLA
Come along people, we're at pre-sale activities stage as per recent RNS, therefore, this becomes important once more -
"Regarding the general meeting and resolution to be put to our members,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. The resolution proposed is a standard resolution proposed and passed at all recent Company Annual General Meetings but which, for reasons related to delays in processing votes held in Nominee accounts was not passed at the 2020 AGM held on 18 September 2020."
Why are apparent LTH's pretending to act confused?
GLA
The reason is simple, i remember them needing a similar resolution passed previously to strengthen their negotiating position. It's all in historical RNS if one cares to take the time to look.
"pre-sale activities"
GLA
There's radioactive material in many every day items tbh -
https://deq.utah.gov/waste-management-and-radiation-control/consumer-products-and-radiation
People just tend to get overly worried when they see the word.
GLA
Indeed, and project financing is covered by the Sinosteel EPCF package, it's a ready to go asset. Buyer pays his money once he is satisfied that the project is financially viable and construction begins, all paperwork and studies are already in place for them to do so.
Although long, it could not have been done any better way tbh.
GLA
"Sale or Fire Sale, BOD first needs to publish DFS to spice up the market" - Incorrect, DFS for both main assets is needed to do the most accurate discounted cash flow valuation. It tells any buyer if an asset is financially viable or not, stopping them from purchasing a red herring so to speak -
"THE DEFINITIVE FEASIBILITY STUDY (DFS)
The question ‘To mine or not to mine?’ is resolved at this stage.
By now all processing parameters have been through detailed and accurate metallurgical test-work has occurred.
While inevitably some will be assumed, these are usually realistic because they are dependant on all mining, processing and other considerations taken at and before this point.
As an example, Arafura Resources’ (ASX: ARU) Definitive Feasibility Study for its Nolans project in the Northern Territory forecast average annual production figures of 4,356 tonnes of Neodymium-Praseodymium oxide and and 135,808 tonnes of merchant grade phosphoric acid.
The mine’s life will be 23 years and average annual pre-tax earnings at A$377 million EBITDA, although the project would require just over $1 billion in capital and up to 650 employees at the peak construction phase.
The company used the study’s release to proclaim to investors, “the Project is financially and technically robust to support a long life operation”."
https://stockhead.com.au/primers/your-guide-to-mining-feasibility-studies/
GLA
I would put a wager on that this man will go with the assets to the buyer, why you ask, well, because he's an ex Rosgeo manager, so, having him at the buyers side after asset purchase of NYUD will smoothen the road for the buyer to the other Rosgeo JV assets. At the end of it all, Rosgeo will get all of the 9 assets in production at a later stage via the buyer no doubt, the area will go into production no matter what, the demand for the metals there is just far too great for it to not be the case -
"Konstantin Firstov, our CEO at Kola has been appointed the Country Manager"
GLA
They can only ever sell what they have at the time of selling, NYUD is simply the only 1 of the 9 that they currently have the entitlement to, therefore, the only Rosgeo JV asset they can sell. All real LTH's fully understand that, we've been here for years.
Have fun banging around in that bin with the rest, there's a good sport!
GLA
There is nothing misleading, you're simply trying to argue because that is your only apparent skill.
That segment will always be relevant, it is included in its entirety for full transparency, you won't understand that, but, well, substantially all of the assets are still being sold as per that original segment -
"the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets."
Now, since you're clearly just attention seeking, you may do that in the green bin with the others, good bye lol
GLA
EIE01,
They have the entitlement to 75% of NYUD as per the recent RNS, what on earth are you going on about?
It has simply been altered to fit the present geopolitical situation.
That RNS snippet is simply where it all began. You appear to struggle with what is officially communicated by the BOD via the official RNS means, that is your problem not mine.
GLA
Incorrect, you're just refusing to believe what has been given in black and white throughout the entire process to date. Most recently -
"Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that Rosendra has approved the Definitive Feasibility Study for the Monchetundra project in the Kola peninsula, northwest Russia (the "Monchetundra DFS"). In parallel, management changes have been made to reflect the Company's focus on the possible sale of its assets in Russia, including the Monchetundra project"
Since some appear to struggle with English comprehension, i'll highlight it for them -
"management changes have been made to reflect the Company's focus on the possible sale of its assets in Russia"
Should we go back to the 'pre-sale activities' quote again?
GLA
You following the yellow brick road yet, or, do you require more help? -
"DMITRY SUSCHOV
Mergers and Acquisitions Officer
Dmitry is a commodities trading veteran (primarily various grades of metallurgical and thermal coals) who has successfully built a major Pulverized Coal Injection (PCI) franchise throughout Asia, Europe and America with an annual turnover of up to $100 million, thereby accumulating around 2.5% of the global PCI market share. He is also an investment banker with extensive experience in the natural resources industry having previously worked with PricewaterhouseCoopers and Ernst&Young as mining & metals leader for CIS. Dmitry has a successful track record of leading the strategic sales of companies in the natural resource sector including the sale of a silica sand mine and the second largest global carborundum production company to Indian Murugappa Group, the sale of a natural resource company to a Danish natural resource fund, and the sale of a gas company to a major investment group, as well as other deals."
GLA