Member Info for mac4671

You've missed the ERDC point entirely lovelyboy, they can issue the license themselves. That's why i did suggest reading the RNS again.

The BOD can also delay receiving the license if they wish by various means. Now why would they do that you ask, well, because no amount of licenses will transpire into the true value and be reflected in the SP in the current conflict situation. The only thing that will change the SP and reflect the true value is when the sale details drop. We have already had NKT underground NPV given to prove that point!

Nowhere does it state in the ERDC RNS that is to do with Hydrogen, that is a guess on your part. What is stated quite clearly is "Kola Projects" and they include the Rosgeo JV ones.

The problem you appear to have is the lack of willingness to accept what has been officially communicated to the market and shareholders by the official RNS means, that's not my problem i'm afraid. Either you accept what they tell you or you don't.

GLA

If it was off schedule it would have been written to say such things, with English we have 'ahead of' and also 'behind' which can precede schedule to say such things. Neither have been used, on schedule has been used all year!

GLA

Indeed Aspen, the most important part, on schedule -

on schedule
phrase of schedule
on time; as planned or expected

As per the budget and stated November date, any change and it would been off schedule and potentially require further budgeting.

GLA

The budgeting for Monchetundra was done until November, that is also in RNS, people merely have to read it. It's budgeted until then, well, because it's scheduled to be complete for then, again, as per RNS.

All RNS states that it is on schedule, there isn't one that has suggested otherwise.

When do people think a buyer would make a binding offer, do you think it would be before the known financials of a project or after? There lies your answer as to why a buyer would wait for the DFS details before making a binding offer! They have to know how much the project will make them, they usually have their own shareholders that they have to get to vote such thinga through, no financial numbers and it's a very hard task to make the case to their shareholders, don't you agree?

GLA

Hydrogen? Even though it specifically states the Rosgeo JV - "Eurasia's own projects and all the projects included in the agreement between the Company and Rosgeo (collectively "Kola Projects")."

I suggest you read it again lovelyboy lol

GLA

Oh, and WK doesn't fall under the ERDC agreement Lovelyboy, different licensing scenario so not an appropriate reference timeline.

Investors need to read carefully through the ERDC agreement to see exactly how all "kola projects" benefit from it.

GLA

ERDC covers all legal rights lovelyboy, including the Rosgeo JV assets -

"Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that the Company's Kola subsidiary has signed a legally binding cooperation agreement ("ERDC Agreement") with the Russian state owned Far East and Arctic Region Development Corporation ("ERDC") which falls under the remit of the Russian Ministry for the Development of the Far East and Arctic. Establishing cooperation with ERDC with regard to all Eurasia's projects in the Kola Peninsula ("Kola") will allow Eurasia (whilst current majority owner of its Kola subsidiaries) to obtain further state support and various tax and non-tax benefits for both Eurasia's own projects and all the projects included in the agreement between the Company and Rosgeo (collectively "Kola Projects")."

"· The right of registered Arctic residents to get land lease for their projects in an out-of-auction procedure, whereby it can be the Arctic management company that grants such lease right to land plots in state or municipal ownership. This regulation considerably simplifies and speeds up the process of obtaining land lease rights (Article 15 Law 193; Resolution of the Russian Government No. 91 dated 1 February 2021 "On the Approval of the Rules of Granting Land Plots in State or Municipal Ownership and Located in the Arctic into Lease by the Management Company of the Arctic"). This enforces the titles to the projects in addition to mining related licenses and potentially speeds up the development of mines;"

"· Legal defence of rights and lawful interests of registered Arctic residents by the Arctic management company (Article 17 Law 193)."

https://www.lse.co.uk/rns/EUA/binding-agreement-signed-with-erdc-0lmg1zzthzmqqkk.html

GLA

No Lenomen, you stated that it had been extended -

"Mac, they have extende the DFS to end of 2022, see last RNS"

Not once has any extension been mentioned.

GLA

"· Definitive Feasibility study on schedule for submission in 2022."

Even the budgeting was done for up until November -

"The Group has spent £682,419 on a development programme for the Monchetundra asset during 2021 and has budgeted a further £527,000 for statutory reporting on this asset to November 2022, keeping the asset in good standing while strategic options for the project's development are considered."

That's the budgeting for the DFS.

It's been on schedule all year, nothing has changed.

https://www.lse.co.uk/rns/EUA/annual-results-and-notice-of-agm-2fhth7z5ujmj4ja.html

GLA

On schedule means on schedule, there is no questioning that part imo. Before the end of 2022 simply means November (the previously mentioned date), there is absolutely nothing to suggest otherwise at this point due to 'on schedule' being used.

If it wasn't on schedule they would have stated such things.

GLA

It's why it will be very interesting to see what happens with them EIE01. There are quite a few options there, especially for advisors and staff. A lot of people came on board with no pay, roped in entirely on a successful outcome scenario. Some of those people fall into the advisors category mentioned. So, those options may be the only way some of the advisors get paid out of all of this perhaps?

GLA

No, what it states is that it is 'on schedule' to be completed before the end of 2022 Lenomen. That's on schedule, as in on schedule for the previously given November date. Nowhere does it state that the submission date has been extended since it was first mentioned in a previous RNS.

The part you refer to simply has before the end in it, again, nowhere does it state that the previously mentioned submission date has been extended, nowhere -

"At Monchetundra the ongoing DFS study for the Loipishnune and West Nittis open pits represents an important reporting milestone for the project's development and is on schedule for submission before the end of 2022."

GLA

Where does it state it has been extended Lenoman. Please do copy and paste in into the thread as the only bit i saw reading it was this - "· Definitive Feasibility study on schedule for submission in 2022."

That would make it on schedule as per the previously mentioned November given date, no extension!

GLA

From a sellers perspective, you gain maximum for sale value post DFS, just before the construction period begins. You minimise your risk as at that stage you don't take on the relevant construction risk etc, the buyer gets it slightly cheaper than an operating mine, but, takes on the construction risk etc. It's win win for both sides tbh.

GLA

We'll find out soon what happens there.

But, interestingly, the DFS is also scheduled for November. Perhaps a binding offer arrives when the DFS data is known. An example - I hereby offer you X amount for what is planned in the DFS, the offer is dependent on the DFS being accepted by the relevant authorities.

DFS gets accepted and MT is sold!

"The Company continues to progress discussions with regard to the potential sale of its assets, appointing KPMG Russia as agent in May 2022, and has set aside sufficient funds to complete and submit a Definitive Feasibility Study for the Monchetundra project in November 2022."

November is an interesting month on the calendar!

GLA

It's an interesting date for the options, right at the very start of November -

Options

___________________________________ Valid to Number outstanding
Executive and Non- executive Directors 02/11/2022 ______25,000,000
Advisors and staff ___________________02/11/2022 ______105,000,000

https://www.eurasiamining.co.uk/investors/share-capital

GLA

Options run out then and DFS is on schedule to be complete for then.

That means news in some way or another.

The March end date for assessing all of the Rosgeo JV assets is also now fast approaching, we're well into the final quarter of the given 24 month block. It is factually known that there are 4 previously operated open pits on the Rosgeo JV assets, some a lot more advanced than others, Poaz for example. Each is very straight forward to take into production!

GLA

Vuruchuayvench, Plast "330" area - https://efgi.ru/object/3117080 - one previously operated pit on here

Nyud-Moroshkovoye - https://rfgf.ru/gkm/itemview.php?id=53232 - Currently in the process of gaining the license - two open pits on that marked area on their website. There's even a pic at the southern pit looking over to NN's facility in Monchegorsk on the eurasia twitter feed - https://twitter.com/eurasiamining/status/1427270457842151434?s=20&t=eWu6CbwPWASuczwVqMvqSQ

Poaz - https://rfgf.ru/gin/itemview.php?id=b2eabd5d1afdd02021dde143e6c0d859 - biggest previously operated pit at Poaz

And then there's one previously operated pit on the Monchetundra side of things. Looks full of water on satellite imagery and so probably needs drained prior to going back into production.

There isn't anything remotely difficult in taking Monchegork into production in its entirety tbh, it just requires the appropriate amount of planning which they're currently working on and is quite time consuming.

GLA

To put it into perspective, there are 5 previously operated open pits on the Monchegorsk district and 2 further known to be planned. One at West Nittis and one at Loipishnune, that takes the total of easy to take to production open pits straight to 7. That's without any of the further planning and assessing that they've been doing over there for quite some time now!

GLA

Potentially boundary or target resource changes, seen similar with NKT, people on twitter usually pick the changes up.

It's to be expected, they're running their ruler over all Rosgeo JV assets, quite a few areas are previously worked open pits, NYUD, Sopcha and Poaz for example! Cakewalk to assess and take back into production as infrastructure from the previous operating state is largely all still in place.

GLA