Member Info for mac4671

It's a different zone EE. The current figures they mention are just for the direct open pit resources, the first resources that mining permits get granted for. Once they're depleted then they would progress to the underground mining zone, if it's economically feasible at the time.

A separate resource figure and mining permit would be needed close to the depletion of the open pit area. They have confirmed the underground zone via exploration in Anglo JV days however, so may already have an estimated resource figure -

Zone 2 allows for underground mining once the current planned open pits have been depleted. Years and years of metals at MT :

"Zone 2 emerged as having underground mining potential, delivering grades increasing with depth from 4m at 1.7 g/t Pt+Pd at 75m depth to 3.6m grading 8.4 g/t Pt+Pd at 190m depth."

https://www.proactiveinvestors.co.uk/companies/news/226/eurasia-mining-revisited-0188.html

GLA

According to this benchmark -

https://twitter.com/DShox1/status/1286214475046158336?s=20

GLA

The position has been disclosed as per disclosure rules. It did not come forward during the 10 day window, so the company has disclosed the position themselves.

The fact that she has not sold any shares during the huge rise, does show that she has confidence in the end result here.

GLA

Sorry to hear your news newbie. Hope you manage to get it all sorted out as efficiently as possible.

I wish you all the best with moving forward from it and with your investment here.

GLA

The BOD made a perfect job of swatting that bot fly tilly, you could hear the squish from 1000 miles lol

GLA

Wilson63, that's one of the reasons i no longer post there. His junk gets peddled through their email notification system.

GLA

Certainly a lot of shares all tightly held between queeld and our BOD. Add the stubborn LTHs, like myself, and there mush be a good amount tightly held for the final show down.

GLA

The company complying to the disclosure rules?

It will have been noted that queeld did not disclose their position in the 10 day deadline period, therefore the company have had to disclose the position to abide by the takeover code?
Certainly looks like they're making sure everything is in order.

GLA

Cheers DarkEnergy, i'm currently going through a few things which seek to describe the code in layman's terms.

It's all very interesting.

GLA

Certainly all very interesting Dmitryscousin. See this bit does suggest that we will be told of every offer -

"An announcement is required:

(a) when a firm intention to make an offer is notified to the board of the offeree company by or on behalf of an offeror;"

I've never been in this situation before, so it's all very interesting to me.

GLA

My mistake, we obviously fall into the seeking a purchaser of more than 30% of the company category -

"such as an announcement that a purchaser is being sought for an interest in shares carrying 30% or more of the voting rights of the company or that the board of the company is seeking potential offerors."

GLA

And it gets pretty interesting -

https://h2o.law.harvard.edu/text_blocks/27965

"Offer period
... An offer period will commence when the first announcement is made of an offer or possible offer for a company, or when certain other announcements are made, such as an announcement that a purchaser is being sought for an interest in shares carrying 30% or more of the voting rights of the company or that the board of the company is seeking potential offerors."

Reading the FSP RNS again, it clearly states that we're in an offer period -

"Following this announcement, the Company is now considered to be in an "offer period" as defined in the Takeover Code, and the dealing disclosure requirements listed below will apply."

https://www.lse.co.uk/rns/EUA/statement-re-formal-sale-process-s2dz3bhew85fz5j.html

Reading those, to me, it appears that there is already an offer or a possible offer.

GLA

So you're saying it's a one shot type of bid scenario ShareAnorak. Each party has all the time in the world to put their very best bid forward, but they may only do so once?

GLA

I would assume that Russia and NN will take this present opportunity to grasp a greater market share and further control over the PGM market.
But, don't rule out any other conglomerate style bidding entity from trying their hand at securing a very large, strategically important, and highly valuable asset.

Even a miner who has had to endure current down time in S.A will most likely be interested in WK, simply due to its open pit nature which allows production with social distancing in place. The power cut problems in S.A may also be a worry to a operator there.

GLA

Prices are doing very well, always great to watch with knowing what eurasia are in the game for.

GLA

It's just the most logical educated guess i arrive at djm1. Others may have different ideas and think it's all to do with WK, from the april RNS i saw said they had done all the required drilling there and were doing a FS for the whole area -

"Feasibility study

The Company is working on a Feasibility Study for the entire mining license area at West Kytlim, instead of at the Bolshaya Sosnovka area only, as originally proposed. Due to reserve and operational data generated over several seasons of mining, the Company has been able to strengthen its geological knowledge and apply this information to all resources on the mining license. As a result, the amount of drilling already undertaken is considered sufficient to raise the resources on the mining license to mineable categories pursuant to the Russian mining standard (GOST). The Feasibility Study now being worked on aims to raise all resources on the property to mineable categories within a single Feasibility Study and without further drilling. This is aimed to accelerate the development of multiple sites in parallel, which should significantly increase production volumes."

https://www.lse.co.uk/rns/EUA/general-update-cxkrj8bql7vbtxf.html

GLA

Something to note, is that the RNS from the 2015 drilling campaign, quite clearly states the potential requirement for further work at loipishnune -

"Further drilling on the other PGM deposit at Loipishnune is also under consideration."

GLA

Well that's it Rowka, there's a lot of secrecy with the whole thing at this stage. It only leaves you trying to form an educated guess as to what has happened.

The most basic view is the 'we have direct rights to 19Moz' and it's for sale.
But even that basic view leads to a lot of value for shareholders from where we are now.

GLA

Anglo and eurasia exploration was done before 2015 Rowka. However, eurasia done another drilling campaign there at the time you've quoted -

https://www.lse.co.uk/rns/EUA/drilling-commences-at-monchetundra-t78kns4nlb4rjkj.html

The fastest way to survey multiple zones, would be to rapidly drill to the required depth and then survey as the drilling gear is extracted from the ground. It's why i keep dropping that facebook link.
But, the use of all their tools and services, suggests that they have ran a complete resource survey imho.

The new MT production target in RNS, tells us that they're pretty certain they can achieve that level of production for that amount of years.

GLA

Bare in mind that they're using all of APs tools and services for the project, and as such, it would suggest a little more than minor probes imho

GLA