Member Info for mac4671

The PFS's for the areas mentioned, were done fairly recently. It is all quite odd tbh, unless when they did the PFS, what was there was not what they were after at the time. Or, they switched all company focus onto that JV. The JV was in place until early this year -

"Our predecessors also developed targets in the NKT area, and areas to the east of the Loipishnune deposit, and these work programmes in 2015-2017 resulted in pre-feasibility studies lodged with the State Cadastre of Mines in Russia."

Either way, they have landed in Eurasia's hands.

GLA

They possibly lost the race for the first mining rights in that area. If they had got rights before Eurasia, then they would perhaps have legal rights over the areas Eurasia were developing.
Eurasia had a head start due to the exploration done in Anglo JV days, they perhaps thought little old Eurasia may not be able to get something together to develop MT. After all, if it wasn't for the sinosteel EPCF then eurasia would not have got the mining rights, without putting an equally suitable plan in place.

It says the law states the have uncontested rights, if that's the law, then it may well be a case of the first one to get mining rights, wins the area -

"Russian Federal law states that a licence application is uncontested in an area within 5km radius of the approved resource."

GLA

The data comes from the gov, not NN. It was logged with the gov, and Eurasia have a legal right to the area -

"In addition to developing the currently approved open pittable resources, the Company has utilised its exclusive right to apply for further licenses adjacent to its mining rights. Russian Federal law states that a licence application is uncontested in an area within 5km radius of the approved resource. Monchetundra contains two identified ore bodies (West Nittis and Loipishnune) separated by 2km. Both ore bodies are known to be open on strike and beyond the current mining concession. Furthermore, the immediate vicinity of the project is known to contain type examples of the majority of the layered intrusion- and contact-hosted PGM deposit types recognised globally. An application for a license surrounding Monchetundra referred to as the Flanks was optimised based on data supplied by the State Cadastre of Mines and the Company's in-house proprietary data set, and submitted in September 2019. The application has been approved by all federal bodies including FSB and Ministry of Defence and awaits license issuance.

A further area to the north and east of West Nittis known as NKT is a standout part of the Flanks. Between 1996 and 2001 an extensive drilling programme was carried out creating a valuable catalogue of drilling data now available to Eurasia. Our predecessors also developed targets in the NKT area, and areas to the east of the Loipishnune deposit, and these work programmes in 2015-2017 resulted in pre-feasibility studies lodged with the State Cadastre of Mines in Russia."

GLA

Thank you CHRI5P.

Certainly not your average AIM placing, that's for sure

GLA

You're welcome Morningsun, and the truth is, no one knows for certain who the bidders will be, you can only make educated guesses from market knowns.

It's NN territory (neighbours), so they will be in the running no doubt. Either individually or as part of a larger group imho.

GLA

Because they were in an arctic JV for palladium, which has only recently fell apart, this why it pays to do thorough fundamental analysis, not just at the point of entry, but keep it ongoing as situations adapt and change -

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/norilsk-s-proposed-arctic-palladium-jv-falls-apart-amid-rusal-s-objections-57691022

The JV fell apart, so where will they now look to increase their palladium resources?

GLA

The potential increase in ebitda turns it into a gain no matter which way you slice it. Even if it wasn't up for sale in a FSP, the asset value still increases relative to the production output, and so is a direct benefit to all shareholders.

We can't be in a better position imho

GLA

That's it, spend $10m+ now, receive $100m+ extra shortly, it's a no brainer tbh.

GLA

There is Foxy, to rapidly change the ebitda, therefore rapidly change the assets value in a FSP. If they were keeping it, they would just gradually scale up to the maximum production mentioned in July RNS.
If they rapidly change the current production figures they will get a higher price for the asset in this FSP imho.

GLA

All interesting stuff isn't it Trift!

GLA

100% under Eurasia's control this season, it would be rude not to Dawg.

They also mention the loan available, that runs out at the end of this month i believe -

"If required, the Company also has access to the previously announced US$1m credit line which is provided by way of a loan agreement between Eurasia and Hamomelia Services Limited, a company owned and controlled by Dmitry Suschov, a director of Eurasia."

GLA

Correct Krispy, although the second signature for WK flanks could be imminent. 3-4 months for each signature, is what i believe the average time is when things are running smoothly.

GLA

MT waiting issue, WK flanks need more body signatures Krispy, hope that helps. May signature for WK flanks is just the first one required.

GLA

Are rather amusing, i must admit. It's quite clear who the traders are at this stage.

GLA

Are you ok gfd? -

"The net proceeds from the Placing, which was undertaken by the Company's Joint Broker Optiva Securities, will be used towards scaling up the production of West Kytlim, as announced in the Company's Annual Report dated 1 July 2020."

We're in a FSP, they want maximum value for shareholders, as previously stated -

Christian Schaffalitzky, Executive Chairman of Eurasia, commented: "The Board remains focused on maximising shareholder value, and, after receiving approaches from multiple parties interested in acquiring Company's assets, has decided that launching a formal sale process under the Takeover Code is in the best interests of shareholders, which could result in a sale of assets or the Company. The Company will work with UBS and its other advisers to execute the process."

WK proceeds are also being reinvested - "payments are received on schedule and reinvested into West Kytlim."

GLA

PFS's Wolster, no PFS information is in the public domain for any flank areas, not any that i'm aware of anyway.

GLA

Crypto, i have suggested that Eurasia appear to have full Russia support previously. Perhaps it's not just Eurasia, perhaps it's everything Dmitry gets involved with, and he is very much part of their plan for things in Russia and their precious metals -

https://lab.lybrion.com/

GLA

Rapid expansion gfd, to quickly change West Kytlyms ebitda, therefore rapidly increase its value. The cash level points to a massive increase in output, that increased output level is in July RNS.
The instant cash injection allows it all to start instantly.

We have just been given the predecessors data for the flanks gfd, that points to them being in the bag, and the new owners, us, have been given all known information pertaining to the area.

GLA

That's it beast, i can assure you that there wasn't many people here loading up on that dip, averaging down, accumulating, initially getting in etc.
Everyone gets in at various points, and adds at various points until they're happy with the stake they have and the level of risk they perceive at any given point.

ii's in at 22.5p says it all in my eyes, we're all in a very fortunate position at the moment.

GLA

Your question -

"Why have ii's not dived in, already?"

They have, you just have to look at the very large after hours buys that have went through over the months.

The RNS, is a fresh wave of ii's coming on board.

GLA