Member Info for mac4671

"Japan was the first country to adopt a "Basic Hydrogen Strategy" and plans to become a “hydrogen society”. The nationwide hydrogen market is expected to grow 56-fold to JPY 408.5 billion (approx. CHF 3,7 billion) by 2030, providing exciting business opportunities."

https://www.s-ge.com/en/article/global-opportunities/20201-c5-japan-hydrogen-market

GLA

"The timeframes in Japan’s Hydrogen Roadmap for realising a hydrogen economy are:

technologically demonstrating the feasibility of storing and transporting hydrogen from abroad by 2022;
introducing full-scale hydrogen generation by around 2030; and
realising full-fledged domestic use of carbon dioxide-free hydrogen by around 2050.
Japan’s Hydrogen Roadmap has an ambitious goal of:

40,000 fuel cell vehicles by 2020; 200,000 fuel cell vehicles by 2025; and 800,000 by 2030;
320 hydrogen refuelling stations by 2025; and 900 by 2030; and
1,200 fuel cell buses by 2030."

https://www.mfat.govt.nz/en/trade/mfat-market-reports/market-reports-asia/japan-strategic-hydrogen-roadmap-30-october-2020/

GLA

"Japan’s policy on hydrogen energy
In 2017, the Japanese Government concluded the “Basic Hydrogen Strategy” to accomplish a world-leading hydrogen-based society. The strategy shows future visions toward 2050 and also serves as an action plan to accomplish the visions by 2030. The strategy sets a goal that Japan should reduce hydrogen costs to the same level of conventional energy and to achieve the goal, provides integrated policies across ministries ranging from hydrogen production to utilisation under the common goals."

https://www.openaccessgovernment.org/japans-efforts-toward-increasing-the-use-of-hydrogen-energy/103900/#:~:text=Japan's%20policy%20on%20hydrogen%20energy,accomplish%20the%20visions%20by%202030.

GLA

No problem Everest, you're welcome. Thank you for all of your efforts right back at you.

It's certainly busy tonight, green boxes must be getting paid over time at the rate they're currently posting trying to keep the lame thread titles going and pointless threads. They certainly seem very desperate again, that's for sure!

GLA

I'll just leave these here, great post Everest and i love the title!

"Toyota Applies Diesel-Killing Hydrogen Fuel Cell Muscle To EU Railways"

https://cleantechnica-com.cdn.ampproject.org/v/s/cleantechnica.com/2021/04/09/toyota-applies-diesel-killing-hydrogen-fuel-cell-muscle-to-eu-railways/amp/?amp_js_v=a6&_gsa=1&usqp=mq331AQFKAGwASA%3D#ampshare=https%3A%2F%2Fcleantechnica.com%2F2021%2F04%2F09%2Ftoyota-applies-diesel-killing-hydrogen-fuel-cell-muscle-to-eu-railways%2F

"Toyota City, Japan, February 26, 2021?Toyota Motor Corporation (Toyota) has developed a product that packages a fuel cell (FC) system into a compact module and plans to begin selling it in the spring of 2021 or later. The new module will be easily utilized by companies that are developing and manufacturing FC products for wide variety of applications, including mobility such as trucks, buses, trains and ships, as well as stationary generators (referred to hereafter as "FC product companies")."

https://global.toyota/en/newsroom/corporate/34799439.html

"Platinum Group Metal Based Nanocatalysts for Environmental Decontamination"

https://www.intechopen.com/books/nanocatalysts/platinum-group-metal-based-nanocatalysts-for-environmental-decontamination

"Designed and built by Toshiba’s Energy Systems & Solutions (Toshiba ESS) division"

https://www.theengineer.co.uk/toshiba-robot-reactor-mission/

Platinum is also used in a system for cleaning contaminated water -

https://www.nuclearsolutions.veolia.com/en/our-expertise/technologies/our-modular-detritiation-system-mds-remove-tritium

"Proposal for Combined Electrolysis and Catalytic Exchange System (CECE) development within the Pilot Plant"

https://www.sciencedirect.com/science/article/abs/pii/S0920379618302655

"Development of hydrophobic platinum catalyst for oxidation of tritium in JAEA"

https://www.sciencedirect.com/science/article/pii/S2352179115300478

How a FCEV works -

https://afdc.energy.gov/vehicles/how-do-fuel-cell-electric-cars-work

Courtesy of dedalus -

https://www.youtube.com/watch?v=TRhVaUNOBhU

GLA

Good to see you about Tilly and your positive posts, all the best to you.

GLA

Nice post Ian. It is indeed an interesting quote, not the company's mine plan but allows for several open pits to be mined at the same time -

"· The DFS as submitted and now approved is not the Company's mine plan but allows for mining at several open pits concurrently."

Get the treasure churning machine turned on, weather's about right for treasure chest filling arrrrrrrrrrrrrrrggggggghhhhhhhhhhh

GLA

All done in secret and only announced when things had been set up. It does make you wonder what other little secrets Eurasia are keeping to themselves doesn't it. They certainly have a special way of making sure you keep your eye firmly on the game don't they.

It's rather odd that the derampers persist tbh, they were beaten at 1.9Moz before flanks landed for MT, before Tipil and DFS landed at WK, before the Rosgeo JV, before huge price rises for Rhodium and Iridium, and long before Japan Eurasia came into play.

Green boxes you are all well and truly beat, have fun!

GLA

Oh, and Monkey, that's a pretty powerful fuel cell in that link you've provided, enough to power a factory, that's big stuff.

GLA

I've only just noticed this thread with a quick trip back in time courtesy of usual LSE board antics. Some great links here EE and CAW, there's a massive market demand in Japan tbh and some real giants already in the fuel cell space and nuclear area. It all points to those 2 big players the more you look. Exciting times for Eurasia!

GLA

Agree Damo, it's just another funding source tbh, one they passed up on and stated they didn't require in RNS at the time. The timing of other things like Christian no longer listed as MD on the website, and it silently being added with James's comment in the Rosgeo JV RNS all points to something is on the verge of happening imho. News flow has been great lately, let's hope it continues.

GLA

It is quite confusing i know, but the EGM resolution is the original special resolution 9 of last years AGM which didn't get passed -

"9. That, subject to the passing of resolution 7, the Directors be given the general power to allot equity securities pursuant to section 571 (as defined by section 560 of the 2006 Act) for cash, either pursuant to the authority conferred by resolution 7 or by way of a sale of treasury shares, as if section 561(1) of the 2006 Act did not apply to any such allotment, provided that this power shall be limited to:

a. the allotment of equity securities in connection with an offer by way of a rights issue to the holders of ordinary shares in proportion (as nearly as may be practicable) to their respective holdings but subject to such exclusions or other arrangements as the Board may deem necessary or expedient in relation to treasury shares, fractional entitlements, record dates, legal or practical problems in or under the laws of any territory or the requirements of any regulatory body or stock exchange; and

b. the allotment (otherwise than pursuant to paragraph (a) above) of equity securities up to an aggregate nominal amount of £250,000.

The power granted by this resolution will expire on the conclusion of the Company's next annual general meeting (unless renewed, varied or revoked by the Company prior to or on that date) save that the Company may, before this expiry, make offers or agreements which would or might require equity securities to be allotted after the expiry and the Directors may allot equity securities in pursuance of any offer or agreement notwithstanding that the power conferred by this resolution has expired."

I do agree that the timing of it is significant, i have stated that previously. It was originally a special resolution at last years AGM. It was odd at the time as 7 seemingly passed by the special resolutions didn't get through, so whatever that specific special resolution was for it's getting brought into play via the EGM.

GLA

So, since Sept 18th last year until that EGM, there has been no requirement for raising funds that way and it has been categorically impossible to change any total shares in issue as the resolutions were never passed at last years AGM -

https://www.lse.co.uk/rns/EUA/result-of-agm-3uqiankrseu30yw.html

Old RNS is a fountain of knowledge Bellers.

GLA

R1CHARDO, it is your understanding which is somewhat lacking, yes an ordinary resolution for the purpose of raising funds, as it has been used previously. The quote dropped about them not needing any further comes from RNS and states just that -

"Company does not intend to pursue these resolutions having fulfilled its funding requirements as announced via RNS on 18 August 2020 (General Update and Institutional Placing at 22.5p"

I always take great amusement at being labeled by someone who makes statements against what is stated in RNS, next you'll be more of an expert than the BOD. You tell me, 3 months progressing non-binding to binding, UBS, Dla Piper and Citic are all still here, what is the chance of failure at this stage?. I'll patiently await your answer.

GLA

The RNS states including a company with that net revenue, as in it is just one which has been introduced, there are others. Due to the wider picture in Japan for the clear PGM demand going forward there, it makes sense that a consortium from there makes a move for Eurasia.

Eurasia Japan could be set up to facilitate that, or, it could be set up for facilitating off take agreements with multiple asian companies. This is the beauty of the current position, no matter which way you try to look at things, every possible route forward is positive from here, there isn't any negatives.

It says in the circular that they're looking to secure PGM deposits, so make of that what you will.

GLA

It's a cover for all eventualities Aviz. Until the binding deal is signed there is still a very small risk it doesn't happen. In that event Eurasia have to be in a flexible enough position to roll with everything themselves. Say 99% it happens vs 1% it bizarrely doesn't. Sinosteel covers the original pits, those resolutions pass another way of making funds available, they have used it before -

"is pleased to announce that AGM resolutions 1-7 have been passed (please see notice of AGM RNS dated 27 August 2020). Due to COVID-related delays in processing the votes held in nominee accounts, special resolutions 8 and 9 have not been passed and the Company does not intend to pursue these resolutions having fulfilled its funding requirements as announced via RNS on 18 August 2020 (General Update and Institutional Placing at 22.5p"

It's simply a "look we can go it alone" added string to the bow. There will be many offers in as non-binding, both for asset sales and the full company acquisition. Say they've rolled with the full acquisition to making binding, what if that 1% happens?, well they contact the highest MT asset purchase offeror and make that binding. While doing that they have the flexibility to fund the first asset/s of the Rosgeo JV. Every base is covered you see when you do things that way, every eventuality and funding requirement covered.

I'm in the sheltered sun trap part postman, tis grand.

GLA

It's always best to try and understand as much as possible in these situations Aston, and a lot of it comes from conversation over what can be confusing points and situations. The simplest way of putting it is the BOD don't have any rights to issue any until it is voted through via the EGM.

If we ever find ourselves in this type of situation again as investors, we'll have a far better idea of how it all works and markers to look for etc. It's quite a steep learning curve with a lot of it tbh, when you dig deeper in order to fully understand the bigger picture.

Hope you're enjoying your weekend, i'm back in my hammock roasting away and sipping on nice chilled Koka Kola, sheer bliss!

GLA

They possibly could in a different scenario to Eurasia's, where they disclosed such things prior to the non-binding offers landing. What has happened is the BOD didn't get those rights to issue after last years AGM due to delays, therefore they couldn't disclose them in the 2.9. When the non-binding offers came in there were no rights to issue shares etc at the time when they had to make the disclosure. I don't think it mattered either way as it wasn't the BOD's intention to issue any. It's another way of gaining finance realistically, so just strengthens our position if we were to go alone with developing things. The EGM is just to get it voted through to show strength on that position to be fair.

GLA

Acquisitions after a firm offer, i.e acquistions after the binding deal announcement, why. Firm offer and firm intention to make an offer is what seperates the non-binding from the binding. The firm intention to make an offer is the non-binding offer, hence the 2.9 disclosure.

GLA

I have -

"Following the announcement of a firm intention to make an offer, the offeree company must, on request, provide the offeror as soon as possible with all relevant details of the issued shares (including the extent to which any such shares are held in treasury and details of any agreements to transfer or sell such shares out of treasury) and, to the extent not issued, the allotted shares and details of any conversion or subscription rights or any other rights pursuant to the exercise of which shares may be unconditionally allotted or issued during the offer period. In the case of conditionally allotted shares, the details should include the conditions and the date on which such conditions may be satisfied. In the case of rights, the details should include the number of shares which may be unconditionally allotted or issued during the offer"

They didn't disclose anything else in the 2.9, just the standard share total as per the 2.9.

GLA