Member Info for mac4671

That's certainly interesting regarding Anthony popeye.

China have always been the ones to beat imho -

https://www.linkedin.com/in/michaelhammondhk/?originalSubdomain=hk

GLA

Ah, now i understand the comment sharpeye, yes, fair enough, it does all build pressure.

GLA

Trading day before, or trading day after -

"or around 31 August2020."

GLA

There is no if sharpeye -

" is pleased to provide a general update and announce the successful completion of a US$10m equity placing (the "Placing") with institutional investors at a price of 22.5p per share, which is equal to the closing price on 17 August 2020."

GLA

It will definitely be interesting to see who the ii is, we may have a little wait for their identity though -

" It is expected that Admission will become effective on or around 31 August2020."

GLA

Week 5 onward, and they drop a load of drilling data into the data room, where all the strong bidders are currently doing DD and asking questions. Absolute blinder ladies and gents -

"mac - i agree in part with you. Having been involved in a four way sale of a company (to private equity - not public listed) that sold for just over £1bn we had a formal 12 week process that was run by the M&A bank. The fireside chats were happening long before that (3 months or so) lining up PE houses, so they came warm to the table.

The process basically ran as a two week entry process (we had 9 involved) with NDAs and access to data room before initial offers were put in. Anyone below 900m were rejected and we went down to 5. Then we had full day presentations from the BoD to the PE houses that were scheduled in the same week (5 days of my life I will never get back) - one dropped out and did not attend.

From week 5 onwards it was DD and loads of questions.

Closing offers were due by week 10, however one of the PE houses broke rank in week 8 and put a number on the table that the BoD and the current PE house were happy with and the process was abruptly ended much to the dismay of some of the other bidders - but the new PE house got in there with an offer that was above the target sale and sufficient enough to do the deal.

I have a twelve week window in my mind from 1st July but now we are in week 6 onwards, for me we are in the heat of the battle now if there are multiple bidders.

All I am saying is that if someone really wants it and does not want the bidding war an offer could land that sets them apart and basically shuts the process down - which is why it could happen at any time."

GLA

Very shrewd move by the BOD to show strength here bristol. ii's coming in at 22.5, at least we know why it was held there before today now.

It is all adding on to what was a great story to begin with, the BOD here are really setting the standard for all others. It really is a 'This is how it's done' situation now!

GLA

Look at yous, replying to a green box lol. Just green box coffin it, it's all they deserve.

GLA

It's huge, there is simply no other way of putting this at the moment -

"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."

"48,405m drilling campaign completed at NKT, a part of the Flanks area."

Some of us already knew that area had been previously explored, but to see it in black and white in RNS is massive.

Data room bursting at the seams with data.

GLA

Is starting to look even more likely here for Eurasia mining imho

We can now see exactly why UBS were brought into all of this, they're accustomed to working with HUGE deals.

GLA

I'm still expecting them this week Nitro.

But, what we do now know, is all that previously collected data that is mentioned in RNS, will be in the data room for the FSP.
Any buyer will be able to run their ruler over that drilling data, that's a massive positive.

GLA

Well, i don't think anyone saw that coming, what a move by the BOD.

This gets better all the time.

GLA

DFS, CKE, AP, what you dug up today, all points to resource upgrades. But, what figures do we currently have?

We're mushrooms until they decide to change that my friend, just mushrooms.

See you tomorrow.

GLA

Rowka, all i'm saying is we have absolutely no idea of what is in that data room. We don't. We also do not have any idea of what the resource upgrade figures would be, if there has indeed been resource upgrades. Again, we don't, we're mushrooms in all of this until the BOD decide to tell us otherwise.

Everythong to date, says that reaources may be upgraded, but we have no figures to play with to change any present valuations. When the new figures come, then we can all make new valuations.

It's just the hard truth of where we currently are.
Only the BOD can tell us the information that we are all patiently waiting on.

GLA

If they have the data available to them Rowka, we don't know what is in the data room, only the BOD do.

GLA

On Wednesday, 7 weeks will have passed. Any weak bidders have already gone from Raharh's real life timeline -

"mac - i agree in part with you. Having been involved in a four way sale of a company (to private equity - not public listed) that sold for just over £1bn we had a formal 12 week process that was run by the M&A bank. The fireside chats were happening long before that (3 months or so) lining up PE houses, so they came warm to the table.

The process basically ran as a two week entry process (we had 9 involved) with NDAs and access to data room before initial offers were put in. Anyone below 900m were rejected and we went down to 5. Then we had full day presentations from the BoD to the PE houses that were scheduled in the same week (5 days of my life I will never get back) - one dropped out and did not attend.

From week 5 onwards it was DD and loads of questions.

Closing offers were due by week 10, however one of the PE houses broke rank in week 8 and put a number on the table that the BoD and the current PE house were happy with and the process was abruptly ended much to the dismay of some of the other bidders - but the new PE house got in there with an offer that was above the target sale and sufficient enough to do the deal.

I have a twelve week window in my mind from 1st July but now we are in week 6 onwards, for me we are in the heat of the battle now if there are multiple bidders.

All I am saying is that if someone really wants it and does not want the bidding war an offer could land that sets them apart and basically shuts the process down - which is why it could happen at any time."

We're at the serious end of things, if we use that timeline as a guide for what may be going on in our own FSP here.

GLA

I had forgot about the credit line, good point.

GLA

I hope this week, quite some time has passed since it was started -

26th Sep 2019 7:00 am RNS Monchetundra Flanks Application Submitted

My view is that it can land at any time at the moment,

GLA

Is my current favourite part of the Eurasia story to date.

It's worth sharing this summary by Zak again, in case anyone missed it.

Nice mention of wrecked shorts here -

"Shares in Eurasia Mining (EUA) continued to fresh all time highs and a £600m market cap, as speculation grows regarding a potential buyer for the Russia focused Palladium play. Traders are betting on a big mining sector name bagging all or key parts of its assets, whose value has risen sharply in the way of the recent boom in precious metals. With UBS on board as its advisor to any deal, and the company described as the “last non consolidated Palladium play” by VTB Capital, shareholders appear to be in the box seat. In addition, with the shares having been subject to a bear squeeze resulting in the demise of short seller Jub Capital. This could mean that the longer the sale process takes, the higher the stock could climb as such shorters look to buy back their positions. Historically, any offer would likely be at a premium to the prevailing share price, with as much as 50% a possibility given the ongoing precious metals rally."

https://zakmir.wordpress.com/2020/08/16/stock-market-watch-sunday-august-16/

GLA

Good to see. Nice mention of wrecked shorts -

"Shares in Eurasia Mining (EUA) continued to fresh all time highs and a £600m market cap, as speculation grows regarding a potential buyer for the Russia focused Palladium play. Traders are betting on a big mining sector name bagging all or key parts of its assets, whose value has risen sharply in the way of the recent boom in precious metals. With UBS on board as its advisor to any deal, and the company described as the “last non consolidated Palladium play” by VTB Capital, shareholders appear to be in the box seat. In addition, with the shares having been subject to a bear squeeze resulting in the demise of short seller Jub Capital. This could mean that the longer the sale process takes, the higher the stock could climb as such shorters look to buy back their positions. Historically, any offer would likely be at a premium to the prevailing share price, with as much as 50% a possibility given the ongoing precious metals rally."

https://zakmir.wordpress.com/2020/08/16/stock-market-watch-sunday-august-16/

GLA