Member Info for mac4671

Relisted at a premium would be my guess. The business valuation will be way out when the larger license lands, also, by Feb Kazera will have quite a lot of cash from Tant valley asset sale and current in production HMS sales.

GLA

Just saw that. Someone buy and expansion pack for it lol

https://www.independent.co.uk/news/world/europe/ukraine-russia-ceasefire-putin-news-b2256739.html

But seriously, i do hope it is the beginning of the end. Surely a perfect time to start negotiations while a ceasefire is in place.

GLA

A fast growing market creating demand for relevant green metals at speed.

Many chinese companies and even the gov will need to secure reliable supply lines!

GLA

It will just be the same people no doubt, just keep green binning their disruptive monikers as it's pointless engaging with them.

GLA

Great move by the BOD with stockpiling the ore all season. An even bigger season is set at WK this year due to the large dragline in place, it's all looking good!

GLA

Is what these swings on RNS are lol

Money coming in left, right and centre now which is good and i like the accelerated payment approach if another $700k is arriving tomorrow.

It all looks good moving forward. News of HMS payment would solidify further positivity also!

GLA

End to a lot of things when metal backed tokens start circulation. There are a few in Russia working on similar concepts, of course, Atomyze is Norilsk Nickels and they have already done it with Palladium -

"Today Atomyze, the digital assets platform for tokenizing commodities, announced its first transaction in Russia. The deal involved the fund GPEF Investments tokenizing palladium, which was bought by Rosbank, with Vector X as broker."

https://www.ledgerinsights.com/norilsk-atomyze-metals-digital-asset/

GLA

Over cooked reaction. Everyone knows that Kazera has only recently turned itself around and by Jan end should have received circa $4mn by way of asset sale ($2.5 + what they have already received), then two months of HMS production to factor in also.

A lot can change and has in a 6 month period here and we know cash is coming in the near term.

GLA

Sinosteel EPCF, engineering, procurement, construction and FINANCE.

All car makers and large mining companies are after relevant green metal assets however, so, buyers will literally be forming an orderly queue to try and get a slice of what's available at Monchegorsk imho. BRICS is a large place with many potential suitors tbh.

GLA

My theory is that MT goes shortly with the NKT flanks part we have thrown in under a ROFR agreement. Remember, there are no mining rights in the flanks yet, but, while MT is being constructed Eurasia will be able to submit the relevant mining pit plans etc on their current 'exploration license' which they have for the NKT area covered by the flanks license. They can only do that via the JORC for the open pit and underground mining that they're currently doing for NKT. Once complete they will submit their plan and gain the relevant mining rights license for the flanks, then do infill drilling and DFS like they have for MT. Once done then that asset would be at a turnkey project for sale position attracting maximum value similar to MT's position.

Rinse and repeat over any further extensions via flank apps and possibly the Rosgeo JV assets at relevant maximum shareholder value DFS complete stages.

It's a big district and will take quite some time to get it all DFS ready and either sold or taken to production.

GLA

The easiest way to think about it all is by placing yourself in the buyers shoes. You've walked into the FSP and MT is for sale for say $3bn and they state that X amount of metals is there. You sit back and think, well, that is reasonable for X amount of metals and so put in a non-binding offer. You're one of many.

Now, due diligence was complete by a buyer and what do you think they picked up doing due diligence? They will have picked up that yes there is an awful amount of exploration done on the MT asset for example but no infill drilling on the pits and no DFS to prove the financial viability of the asset. Buyer/s come back and say, well, do a DFS/infill drilling etc before i make a binding offer. Off Eurasia goes doing so in order to prove the resource level and financial viability by the industry standard means. DFS gets accepted and you have one ready to go turnkey asset to be sold and accurately valued. Both the buyer and the seller is happy at that stage, seller with the price and the buyer is happy that what they are paying for is actually there in the ground.

GLA

From day 1 of the FSP it has been MT for sale under NDA's, there has never been any secret with it tbh -

"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."

Maximum value from a selling position is achieved at the DFS complete stage, the same stage which allows any buyer to accurately value the asset and make their final 'binding offer'. It's not a coincidence, it all follows a very logical set of steps.

Where i said 1,2 weeks behind perhaps it may have ended up 4 weeks behind if it had originally been scheduled for completion at the start of November. We'll never know how far it fell behind schedule, all we'll ever know is that it appeared to fall behind schedule by some time.

If you go right back to the original bank RNS which started all of this, then you may assume that both West Kytlym and Monchetundra have been for sale. As i've stated, you can only sell what you own and even at present that is all they own -

"If the Company was to dispose of both of its Assets, then AIM Rule 15 (Fundamental Changes of Business) would apply. Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it."

GLA

"They have always stated that MT DFS is anticipated for submittal at end of 2022" - Are you just making this stuff up on the fly? It was financed to November and the original schedule mentioned November also. It then changed to end of year but was apparently on schedule at the interim. Which, realistically if it completed in December then it was some weeks behind schedule. 1, 2, whatever it was prior to submission.

MT DFS is quite clearly an important part of the MT asset sale, if it wasn't then i imagine that the sale would have been done a very long time ago. The infill drilling etc proves the resource level of the open pits to the best capacity available, hence having the most accurate resource level figure, therefore, being able to do the most accurate discounted cash flow valuation prior to making a 'binding offer'.

You can't value something if you don't specifically know exactly what's there!

GLA

The reason they can't rush and they have to prove things up prior to selling anything is the metal pricing. Buyers will be parting with very large sums to secure any assets around Monchegorsk that Eurasia choose to sell. Those buyers need to know exactly what they're buying with the current metal pricing for Nickel for example -

29,360 according to here:

https://twitter.com/Youngin74703257/status/1608022486746271746?s=20&t=RZ5rHHJ0OPWR8iCZvvljJA

They can only do that with hard figures like the JORC work that they've been doing at NKT -

"· Tier-1 scale: 305Kt of Nickel, 143Kt of Copper, 57 tons of PGM and Gold (11.2Moz of Platinum equivalent) have been estimated by WAI as JORC-compliant resources for an underground mining operation.

· Nickel is the main metal comprising half of the value in the metal basket on a Net Smelter Royalty ("NSR") basis.

· Although significantly lower metal recoveries have conservatively been assumed for the MRE by WAI, the JORC-compliant Nickel resource has exceeded the Nickel resource registered in the Russian State Cadastre of Mines for NKT (please refer to RNS dated 4 December 2019). Metal recoveries remain a significant upside for the next NKT MRE update."

There is no short cut with this tbh, they have to prove what is there for A) Maximum shareholder value, and B) To legally cover themselves by placing themselves in the position of doing absolutely everything possible to prove what they are selling is there.

MT is simply the first to go at Monchegorsk imo, others will follow at later appropriate times when they arrive at suitable proved statuses, possibly via ROFR agreements with the MT buyer.

There will never be a situation where there are no buyers due to the demand scenario that has formed from the shift to green energy imho

GLA

It could be the T of NKT Fr.Jack.Hackett, which means that it could go under a ROFR agreement at a later date when the asset has been proven to the desired level to gain maximum value for shareholders. Or, it could be Volchetundra, something that they did mention they were looking at again back in December 2019.

Both point to a longer term scenario however due to how long the license applications have been known to take previously. Then you've got all of the work that they have to do to get an asset ready for sale, similar to MT DFS and the JORC work that's been going on at the currently owned section of NKT in the flanks.
ERDC may speed up the license application process, but, this is the first appropriate one that could fall under that agreement there, so, we don't really know if it will and by how how much until it arrives at Eurasia.

26th Sep 2019 7:00 am RNS Monchetundra Flanks Application Submitted

25th Aug 2020 7:00 am RNS Monchetundra Flanks Update -

"is pleased to announce that the Monchetundra Flanks license has been approved by the regional licensing body, SevZapNedra."

Looking back, MT flanks actually took circa 11 month from application to final sign off. So, it's usually a long process, stays with each body for a few month minimum and there are 3 bodies it goes through from memory. We'll see if the agreement with ERDC changes anything on that front during 2023 no doubt.

GLA

Interesting Fr.Jack.Hackett, even though Japan is an Island with no resources of its own, therefore, they have to secure supplies from international sources like Eurasia's assets. It's pretty much the same reason as to why they still buy Russian Oil from Sakhalin tbh, they don't have an alternative due to their isolated island situation.

The most clear example of Japan's position ref Sakhalin -

"Japan sets price cap on Russian crude oil, excluding Sakhalin-2"

But, you do agree that the man who was previously mentioned in RNS is still here, the man brought in for the execution of their strategy, which, of course, has been a sale of some Russian assets -

". Mr. Kosaka's appointment is a part of the execution of our strategy as previously announced"

The thing to remember is that they can sell what they own, so, anything else that is applied for can only really have a longer term situation applied to it. That recent license app points to the long term imho

GLA

Back to expansion in their investor friendly jurisdiction, BRICS. Now, i do have some evidence that they are still very much expanding, very recent evidence also -

"Separately, the Company, through its subsidiaries, is advancing a 100% owned exploration license application in the Monchegorsk area which is currently being reviewed by the relevant authorities."

The good old corporate update, it tells you that they're expanding!

If they were not looking at the long term, then why make an application which has been known to take circa 9 month (approx) previously to complete?

GLA

Ah, so you think his appointment role has changed, or, possibly as i asked previously in this thread, it's a red herring? -

"A legitimate line, or, a red herring to keep any potential buyer totally anonymous? They do have a nack for keeping us all guessing through this entire process tbh don't they!"

GLA

You do understand that the sanctions are all to do with trading with the West Fr.Jack.Hackett? Eurasia trades primarily with BRICS, so, the West stating that the West can't buy Russian PGM's for example would still have zero effect on Eurasia's day to day business. Therefore, they can expand as much as they like in the market in which they operate. The investor friendly jurisdictions to them is BRICS because that is the market in which they trade and are accustomed to.

GLA

"and YES - i do see the previously copied and pasted corporate update RNS segment which clearly states that the office is supporting Dmitry with the sale of assets. Japan (as I stated) is mentioned as an office ONLY - not as a location of potential suitors." - While disregarding who was brought in and for why? That seems very strange Fr.Jack.Hackett, again, someone who is still here -

Christian Schaffalitzky, Executive Chairman of Eurasia commented: "We are delighted that Mr. Kosaka has decided to join Eurasia as a non-executive director. We see significant interest from Japan in PGM and battery metals assets, as Japan moves towards net zero-emission goals and the hydrogen economy. With JOGMEC and Hanwa having already acquired PGM assets in South Africa, the Japanese players are interested to further expand their presence in lower cost and energy abundant mining jurisdictions. Mr. Kosaka's appointment is a part of the execution of our strategy as previously announced".

All BOD changes are RNS's, no change to that situation has ever been made, therefore, there is no requirement to make the appropriate RNS announcement.

GLA