Member Info for mac4671

It's super fun watching the initial guys appear to try and close factual information down, only for a ream of green boxes to then follow suit. There's a pattern forming i feel, highly amusing and so awfully transparent!

GLA

For those without Instagram......March 31 2020 -

!absolute.precision
Exploration Manager of Eurasia Mining PLC Alexei Boucher visited our office today in order to discuss a joint project with our company. We can’t share the details yet, but this is going to be a complex one, involving the whole range of our tools and services. Stay tuned for the updates!

#eurasiamining @inertialsensing #limgroup @xplorationproducts #absoluteprecision #aplimited #twingyro #slimgyro #corepro #acoustic #drilling #mining #engineering #surveying"

It's quite easy when you look at the info given to date i feel!

GLA

Oh look, 12 months prior, so, what was Absolute Precision brought in for, the answer is very simple -

https://www.instagram.com/p/B-ZhwV-jEjC/?igshid=YmMyMTA2M2Y=

GLA

By the same numbers equation, you could argue that due diligence prior to them signing the agreement may have lasted 12 months to do those 4 -

"Each of the four open pit deposits, which are located directly adjacent to Monchetundra, have already been studied by Eurasia with block modelling and open pits' optimisations performed by the Company. According to the due diligence done by Eurasia, the ores are suitable for toll treatment over distances of 5 to 8km with beneficiation and mineral processing at the proposed plant site between the Company's open pit deposits at Loipishnune and West Nittis."

Now, when was our exploration manager seen with Absolute Precision? Oh that's right, 12 month prior to the RNS about Rosgeo JV. I'll have to link separately via phone in few secs.

Timelines are in RNS also, you just have to comprehend the wider picture!

GLA

*Do have fun and enjoy your day

No idea what happened there, fat thumbs lol

GLA

Now, i know this is very obvious to some, but, it doesn't seem obvious to others. We had 4 with block modelling etc at the start of them announcing the Rosgeo JV in March 2021, yes? By Sept we were told 6 had reached that stage, so, 6 months for two, or, 3 for one. That left 3 to look at in Sept 2021 to reach block modelling and pit optimisation stage, yes?

So 9 months approx to do the 3 from info we've been given to date, that would bring us to June this year. Now, DFS arrives in November, 5 months later, so, what stage do people think the Rosgeo JV assets will be at come November if all block modelling etc has been done by the previous July?

Do have have and enjoy your day!

GLA

For ease and for the purpose of the current discussion, do follow this link and see the open pits already in place at NYUD and also POAZ -

https://apps.sentinel-hub.com/sentinel-playground/?source=S2L2A&lat=67.89250607034724&lng=32.93752670288086&zoom=13&preset=1_TRUE_COLOR&layers=B01,B02,B03&maxcc=20&gain=1.0&gamma=1.0&time=2022-02-01%7C2022-08-22&atmFilter=&showDates=false

GLA

CAW, you mention that they wouldn't pay millions for something worth billions, yes? Well. go and find out how much NKT cost Eurasia, part of the MT flanks application -

6: NKT - https://rfgf.ru/gkm/itemview.php?id=53121 - - - - $1.2/$1.7bn - - - - - - Just the underground section!

The numbers are all out there, we've been given some, more than enough to work with if i'm honest.

GLA

I'll try and explain this further to help some of you, NYUD is a brown field relaunch right. So, if it is a relaunch is has an extensive amount of work already done on it, yes? So, that makes it part of this -

"· Four palladium, platinum, copper, nickel and cobalt open pit deposits, upon which Russian FS completed and reserves (according to the Russian standards) approved by the Russian State Committee of Reserves (GKZ).

Each of the four open pit deposits, which are located directly adjacent to Monchetundra, have already been studied by Eurasia with block modelling and open pits' optimisations performed by the Company. According to the due diligence done by Eurasia, the ores are suitable for toll treatment over distances of 5 to 8km with beneficiation and mineral processing at the proposed plant site between the Company's open pit deposits at Loipishnune and West Nittis."

So, where will the vast majority of work and therefore expense come in, well, the other areas, not NYUD and POAZ which were previously operated. Satellite imagery shows anyone the opens pits already in place on NYUD and POAZ, so, the rest fall here -

"· A further five mostly open pit palladium, platinum, copper, nickel and cobalt assets are included in the JV, where Eurasia has carried out due diligence including c.20km of exploration drilling and some 12 thousand samples taken by Eurasia."

The ones that require the most work and therefore the most expense.

I think peoples biggest mistake is not fully realising what work has already taken place at Monchegorsk, both by Eurasia and Anglo, but, also previous operators like Norilsk.

When they raised the $35m it was enough to cover all Rosgeo JV assets to be JORC'd etc by WAI, both raising RNS are titles stipulating X amount of cash for the Rosgeo JV and RNS specifically states that they had enough to cover their commitments to the JV.

GLA

Do you ever talk about Eurasia Wtf12?

CAW's explanation would leave a whole load on Rosgeo JV assets unfunded. NYUD is merely one tiny fraction of the district that they raised $35m for -

1: Vuruchuayvench, Arvarench plot - https://efgi.ru/object/3117078
2: Vuruchuayvench, Plast "330" area - https://efgi.ru/object/3117080
3: Vuruchuayvench, Vuruchuayvench plot - https://efgi.ru/object/3117079
4: Yuzhnosopchinsky - https://rfgf.ru/gkm/itemview.php?id=38851
5: Nyud-Moroshkovoye - https://rfgf.ru/gkm/itemview.php?id=53232 - Currently in the process of gaining the license.
6: NKT - https://rfgf.ru/gkm/itemview.php?id=53121 - - - - $1.2/$1.7bn - - - - - - Just the underground section!
7: Poaz - https://rfgf.ru/gin/itemview.php?id=b2eabd5d1afdd02021dde143e6c0d859
"20300157 G-1-176GCM passport Layer 280
20131279 G-1-175GCM passport Eastern Vuruchuayvench
20124654 G-1-174GCM passport Poaz (bottom deposit)"
https://efgi.ru/object/20078236

GLA

By CAW's explanation they've spent 65% of Rosgeo JV funds on one tiny fraction of the Rosgeo JV, how on earth do you figure that stacks up?

We know that the $35m is to cover the ENTIRE Rosgeo JV and we know that is was deemed to be enough to cover the JV, we've all been told that in RNS -

"· The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly"

It's all in RNS CAW, seem very silly to ignore it -

30 September 2021 -

"· Block Modelling and open pit contouring and optimisation complete for 6 of 9 Rosgeo JV projects."

GLA

CAW, all licenses have ben mere millions to date, why would Rosgeo JV ones be any different?

It's interesting that people wish to point blank refuse to believe what is in RNS, very interesting indeed!

The funding, we were even offered more but the BOD chose a lower level, why is that CAW?

"· The Directors have reduced the financing size to approximately $15m from the higher amount offered to Eurasia"

GLA

Indeed mooching, they could have had it in as a resolution to vote on at the AGM, they didn't and the only reason that can be is because they have more than enough funds to cover what they set out to achieve.

We also know from historical RNS that 6 of the 9 JV assets had their block modelling and open pit optimisations complete back in Sept last year. The BOD over funded to ensure that they can get all of their plans done, an X percentage above what they required to cover any possible unforeseen costs.

GLA

You want it as a percentage? We have about 35% of raised Rosgeo JV funds left, therefore, you could say 65% of Rosgeo JV must be done as 65% of the raised funds to cover the Rosgeo JV have been spent.

Numbers, such fun and they tell you a great deal!

GLA

As an approximate from the numbers we know of from previous markers, the current company cash position will be approx £10m.

GLA

Think about costs, well, because that is now where the convo is expanding naturally -

DLA Piper - lawyers - expensive

WAI - JORC reports, NPV etc - probably also expensive

Absolute Precisions secret work - Again, probably expensive

Rosgeo JV licensing fees - perhaps what lovelyboy is stating is a route to figuring out an approximate figure for all 9 Rosgeo JV assets

Of course, there will be many others on top of the above.

When they did their budgeting the $35m was deemed enough to cover everything at the time as it is stated in RNS that it is the case.

We then just look at the given cash balance markers to ascertain the rate that they're spending the raised funds at to get the best idea of how that is all progressing. Due to news silence it is the only realistic way to look, how fast are the Rosgeo JV raised funds being spent!

The numbers tell you far more in any situation, even in a news blackout you can figure out what a company is doing by the rate at which they're spending cash!

GLA

Aspen, the numbers to date are in RNS, i've just provided people with them. That is the cash burn, that is how the cash balance has reduced at the two markers of Dec last year and May of this. It's not a debate, the annual report tells you what they've spent, historical RNS tells you what the funds were raised for.

GLA

I hope you have a speedy recovery from covid lovelyboy, too many seem to be getting it recently!

I understand what you're saying about NYUD, but, do you understand that they will run out of cash if they are not currently doing all of the Rosgeo JV assets. The cash burn from the funds that they raised to cover the Rosgeo JV tells anyone that they are doing all of the Rosgeo JV assets currently.

That's what i'm saying, nothing more nothing less.

The conversation expands in to the further Rosgeo JV, therefore budgeting ($35m), therefore what that was raised for, therefore present cash burn to see if they are doing what they said they would be doing, hence how we are in this present conversation. With convo expansion comes Dmitry's role and professional background, because, well, that's what he did as a professional career, raised funds for businesses projects etc.

What changed since Feb? The conflict and the news flow due to said conflict, they'll release all info in one go to do with the it all. If it wasn't the case then we would have heard something about the open pit NKT aspect by now. The reason they will keep things back is due to the current crazy SP mark down, releasing the info won't transpire in to the real value being added to the company mcap in this scenario.
What will change it though? Sale info.........

GLA

The vast majority of the cash burn is for the purpose of what the funds were raised for, all done after a very clear budget for a future project -

"Completion of US$20m financing for Rosgeo JV"

"Completion of US$15m financing for Rosgeo JV"

From doing the budgeting they know that the figure was enough at the time -

"· The cash balance of Eurasia now is about $35m with no debt

· The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly"

The cash burn tells anyone what will be left by december this year, all figures and quotes come direct from RNS.

GLA

Company current cash burn, all in the annual report, very easy to find -

"Apart from the progress on the ground, we strengthened the Company's balance sheet by way of two financings through private placements with institutional investors raising gross aggregate proceeds of US$35 million (circa £28 million). This has allowed us to make careful investments in developing our assets and also has given us flexibility in our approach to facilitating diversification in the future"

"In 2021 the Group raised gross funds of $35 million (2020: £7.9 million) from equity markets through two placings lead by H.C. Wainwright & Co. No options or warrants were exercised in the period reported. At 31 December 2021 the Group had a cash balance of £22,009,507"

"The Group's current (as at 30 May 2022) cash position is around £14,200,000 with the reduction since December 2021 being accounted for by £3,900,000 in capital expenditure, £1,300,000 on development expenditure on its assets portfolio, and £3,500,000 in costs"

GLA