Member Info for mac4671

You can't disagree with the cash burn lovelyboy it's in RNS, the figures i gave you are from RNS. £22m december 2021, £14m May this year. Stop arguing and take a look. At that cash burn you end up with £6m left by Dec this year.

Jeez, no offense, but it gets very tiresome when you don't accept that FACTS which come direct from RNS.

They have regularly told us the companies cash position, if that cash position changes it is because they are spending it, given that it was raised for the Rosgeo JV, it is therefore being spent on the Rosgeo JV.

You need to accept what is in RNS lovelyboy.

GLA

If has been found that CTC and poodle pup have a combined IQ of 40.

Two of my green binned junk thrown in there a long time ago for obvious reasons.

Best just to report and filter them tbh, they never bring anything of any relevance to the Eurasia discussion.

GLA

The man in the driving seat is bringing us all of this -

"What Is Corporate Finance?

Corporate finance is the subfield of finance that deals with how corporations address funding sources, capital structuring, accounting, and investment decisions.

Corporate finance is often concerned with maximizing shareholder value through long- and short-term financial planning and the implementation of various strategies. Corporate finance activities range from capital investment to tax considerations.

KEY TAKEAWAYS

*Corporate finance is concerned with how businesses fund their operations in order to maximize profits and minimize costs.

*It deals with the day-to-day operations of a business' cash flows as well as with long-term financing goals (e.g., issuing bonds).

*In addition to capital investments, corporate finance is concerned with monitoring cash flows, accounting, preparing financial statements, and taxation."

You'll recognise this part from RNS where they have stated that they are working to maximise shareholder value -

"Corporate finance is often concerned with maximizing shareholder value"

Isn't it really handy to have corporate finance professionals at Eurasia mining!

GLA

What appears to be the issue with most is that they simply don't know very much about business.

People merely have to understand the person running things and his professional background -

"In corporate finance, investment bankers raise money and capital to develop businesses."

It's what Dmitry did as a profession, Artem is also a corporate finance professional.

Now, if it was Dmitry's profession and he is the largest shareholder here, how accurate do you think his budgeting for the Rosgeo JV project will be?

Do you think that there will be much variance between the budget and the actual expense come the end of what they wish to achieve with the Rosgeo JV?

You see, if i were investing my hard earned money i would at least want to know some appropriate information about how businesses actually run, the roles of various professionals also, as it always gives you a far clearer picture of what is actually taking place in any business you invest in. Remember, as a shareholder you're a part owner, so, understanding what you part own thoroughly should be paramount to any astute individual!

GLA

You have to go way back lovelyboy, i've told you, Anglo funded the exploration of a large amount of Monchegorsk when Eurasia and Anglo held a 36km2 license covering the lot at the time -

"Anglo Platinum, the world's largest primary platinum producer is funding the exploration programs up to US$10million and these results complement the two previously announced discoveries in areas covered by the joint venture. Confirmation of the discovery on the Monchetundra licence follows completion of 2,339 metres of drilling in 12 holes to the end of July. Platinum grades of upto 10.7 grams per tonne (g/t) and palladium of up to 2.88 g/t were identified within a one metre section of the mineralised zone measuring 17 metres in thickness."

The area has been explored an awful lot by this stage, Anglo and Eurasia, Norilsk, Rosgeo, Absolute Precision and all of the others that explored there right the way back to the 1930's -

"It was established in the 1930s[citation needed] as the inhabited locality of Moncha-Guba (?????-????), which served copper and nickel mining in the Monchetundra Massif.[10] It was granted work settlement status and renamed Monchegorsk by the Resolution of the Presidium of All-Russian Central Executive Committee (VTsIK) on November 25, 1935"

https://en.wikipedia.org/wiki/Monchegorsk

What Eurasia are currently doing with WAI is simply the very last stages prior to project construction.

Eurasia's current position as an entity who were a mining tiddler for the vast majority of its business existence, really does make it the envy of a lot right now. They hold the keys to the entire explored district and are currently icing the cake!

GLA

You see when they raised that $35m and knew it was enough to cover the Rosgeo JV, it's because they had done a budget to figure all of that out, what they would need for that future cash burn.

At the current cash burn they have enough until March 2023 don't they, the time they have until to make their decision on which Rosgeo JV assets to develop. That's simply how business works, if you have an upcoming project you have to do the budgeting for it.

GLA

The cash burn also tells you that they're doing the whole district there tbh.

They had $35m, that went down to £22m ($26m) by December last year, then down to £14m ($16.8m) by May this year -

"The Group's current (as at 30 May 2022) cash position is around £14,200,000"

By December this year that will be down to approx £6m ($7.1m)

If they get to December and they've only done NYUD they would be in all kinds of financial trouble for the rest, wouldn't they!

GLA

They have brought an entirely new meaning to the word 'shortly' lol

"· 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"

But, the relevant info pertaining to all of the Rosgeo JV assets in in that RNS you linked -

"In total Eurasia has already invested some US$8.3 million across the Additional Assets."

Simply put, they're using their own historical geological data from Anglo JV days along with things like Norilsk's as the previous operator, then some additional work from Absolute Precision and Rosgeo to give the final info that WAI use for JORC, NPV, DFS etc.

Attach 2.4 (2.84 USD), as you've stated to a multiple of 9 Rosgeo JV assets and you have a potential expenditure of $25.56m. Leaving plenty of room for anything additional picked up like this new licensed area -

https://twitter.com/TheBakingTrader/status/1501485643813249027?s=20&t=q3ZO7ITeT7NixmqOZmbt6g

GLA

Interesting, so, they've realised that certain sanctions don't work and so are reversing some to do with commodities.

I saw that Putin has agreed to allow inspectors to go to the nuclear plant. Both sides should use it as the marker to work on peace, as it shows how dangerous the conflict is becoming and fighting is almost at a gridlock in any case.

GLA

Rosgeo JV and wider more thorough Kola asset analysis, it's clearly what AP were secretly brought in for back in March 2020.

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

They had done 6 assets of the 9 in sept 2021 -

30 September 2021 -

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

It's quite mind boggling as to much much work they decided to take on after the bank RNS in 2019, working the entire time to analyse and therfore gain maximum value from their first mover position at Monchegorsk.

I always wanted Eurasia to take it to production at one point, but, it's that large it's definitely a game for a good consortium, and, well, Eurasia would make more than enough from selling assets at the appropriately explored and thoroughly analysed stage.

The demand appetite is there for a large consortium to scoop it all up, time will only tell whether that takes place however!

Citic Merchant have never left, that shows just how keen the potential buyers are from that aspect of things.

GLA

The potential is therefore greater than the 184.6Moz stipulated to be at MT, NKT plus the Rosgeo JV assets due to the section you've highlighted -

"The table DOES NOT INCLUDE new applications made by the Company that will be announced when the reserves and resources estimation is compiled."

The potential NPV calculation is approximate and limited by many factors, but, even if it's halved it's $10bn and again wouldn't consider any of the possible additional new applications.

The district has a pretty crazy resource potential, Eurasia are in an extremely fortunate position to have help on and developed their position there through the weaker metal price times etc. They held on and kept going and it's ultimately paying off for them!

GLA

It's all of the areas at the time lovelyboy -

"Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company is pleased to announce the reserves and resources breakdown by metals for the Monchetundra Project(Loipishnune and West Nittis deposits), the NKT area, and the projects included in the agreement with Rosgeo (as announced via RNS on 26 March 2021):"

New applications are for other resources they may pick up using Absolute Precision's fancy surveying technology, an example is this new license area which falls in to the exclusivity zone but is outside of MT+Flanks and also the Rosgeo JV -

https://twitter.com/TheBakingTrader/status/1501485643813249027?s=20&t=Kn823_TxCZFkftT492_bTQ

You then have the notable area change of the NKT extension application that is in the Russian system, there are a few on twitter watching that closely and updating any are size and shape changes.

With AP's gear they will get far more accurate ore body models than anything that has been done previously imho.

Indeed lovelyboy, they also appear to be deliberately holding info back, so, you have to ask why? Is it due to the conflict, or, is it due to areas going under NDA's to a buying consortium. We know that the license system is now far simpler due to the EDRC agreement, so, could licenses simply all arrive on completion of all analysis in to the holding subsidiaries and then swiftly be given to a buying consortium in our current 'For Sale' environment? I believe they can, and due to the current Nickel demand, those assets containing Nickel are as good as sold imho.

GLA

See, NYUD was complete a long time ago now -

"The table above includes the Nyud deposit for which Eurasia's subsidiary already has paid Rosgeo (as announced via RNS on 26 March 2021) and the license transfer thereof will be separately announced. In the meantime, Wardell Armstrong International has presented a draft CPR under the JORC Code and the NPV model to Eurasia for review. Nyud is a nickel dominant relaunch project, similar to NKT."

Such an easy waiting game when that was said to have been done 6 month ago!

GLA

Good to see you've recovered Tilly, it's a nasty virus by all accounts, take care!

GLA

Now, as per NYUD, the reports can be done and the BOD has to review them. This leaves an element where the BOD can review them for as long as they like after draft reports are complete, and, well, essentially release all of the Rosego JV JORC NPV etc info in one go whenever they like.

The chances are that Rosgeo JV assets were going to the MT buyer via ROFR agreements, to be bought when JORC and NPV analysis etc are complete. Due to the conflict, they're now perhaps looking at one transaction to cover MT and anything from the Rosgeo JV side which may have had ROFR agreements in place and be looking to exit Monchegorsk, and therefore Russia, in one orderly move.

If it's a Chinese state consortium moving via Citic Merchant for the Kola assets, the Russian gov will agree to all and any requests due to the strengthening BRIC's relations dynamic.
They also want the district in production and foreign investment from an entity like China would 100% allow that to take place.

GLA

To the state, Eurasia are a registered Arctic resident -

"Companies that intend to use tax incentives and investment support in the Arctic shall apply for Arctic residency status. Taking into account the above incentives, Eurasia has started cooperation with ERDC and filed an application for the inclusion in the register of Arctic residents to be able to enjoy the incentives, benefits and administrative support granted to the investors in the region. This application has now been approved"

They get full state support and a far simpler license system via EDRC. I encourage all to go back and read the EDRC RNS, it's one of the main things that changed long after the Rosgeo JV was made, and it cements Eurasia's legal position at Monchegorsk.

GLA

Koka Kola's all round -

"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")."

GLA

The licenses arrive via the new EDRC system for Kola that was signed last year, it's all legally binding -

"· 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;

· Tax incentives and non-tax benefits;

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

If it's all legally binding then there's little point doing the 75% ownership stage, it's more logical to JORC the entire lot and move straight to 100% ownership. We already have the funds for doing so, they raised those from institutional investors quite some time back -

"· 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 simply a very easy waiting game while they do the entire lot!

GLA

It always happens, that's why they disrupt.

Block modelling and open pit oprimisations were done on 6 of the 9 Rosgeo JV assets back in Sept 21. Now, where does block modelling fit it? Well, the answer comes from the NKT Tier 1 JORC report, it's part of the process of doing JORC, NPV etc, therefore the BOD are doing the entire Monchegorsk district -



"· The wireframe and the block modelling of the high-grade Nickel, Copper and PGM vein part of the NKT is in progress and represents another upside to the MRE and the NPV."

If they're doing the entire district then they'll inevitably arrive at an entire district NPV as per the approximate calculation in this thread!

GLA

Fingers crossed that they take place -

"??Erdogan urges Ukraine, Russia to return to parameters of March talks in Istanbul.

After a meeting in Lviv with Zelensky and UN Secretary-General Antonio Guterres, Erdogan also said that he was concerned about the situation at the Zaporizhzhia Nuclear Power Plant."

https://twitter.com/KyivIndependent/status/1560385789330178048?t=gZVRd7HbSasmaN4mvMGicQ&s=19

GLA