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KAT + 2.17%
KAV + 6.90%
RRR + 5.71%
POW................. - 4.08%
Makes sense....
Hi Jack,
After reading your post I contacted EUA on your behalf and expressed your concerns regarding the current share price.
A lovely chap named Keith took the call and he was particularly helpful although he was somewhat saddened to hear you had reduced your holding.
Because of this, he promised me that there would be a statement from the company first thing tomorrow morning stating that 27p is an incorrect valuation and that the market should re-consider.
He then said to be sure to pass the above on to you. Unfortunately, having reduced your holding today, you will be forced to buy back at whatever price the market values us tomorrow.
There was a lot of laughing in the background as I hung up, I presume someone told a funny joke or something.
Good luck
Sorry if already posted, had a quick browse and couldn't see it. Uploaded yesterday:
https://acfequityresearch.com/helium-one/
TMS - "The Sinosteel deal is dependent on them doing a Russian-equivalent DFS. It would be madness for anyone to lend money without having a proper NPV, AISC figures, IRR etc. As we know, there is no DFS as yet."
https://www.lse.co.uk/rns/EUA/russian-subsoil-agency-approves-maiden-reserves-315dwanqsfrobvh.html
"An EPC contract was agreed in October of 2016 (see RNS dated 10 October 2016) between TGK and Sinosteel, a state owned Chinese corporation focused on mining, trading, equipment manufacturing and engineering. The proposed contract would provide for Sinosteel to undertake mine and processing plant turnkey construction and commissioning on a commercial arms-length basis. 85 per cent (or US$149,600,000) of the contract value has been arranged as debt-based by Sinosteel and this element of plant construction costs remains on the Sinosteel balance sheet until such a time when the plant is operating at full capacity. Approval of Reserves and the Feasibility Study governing the extraction of the Reserves was a condition to this agreement and this has now been fulfilled."
From the EUA Circular:
"Disapplication of pre-emption rightsThat Directors be given the general power to allot equity securities pursuant to section 571 (as defined by section 560 of the Companies Act 2006 ("2006 Act") for cash, either pursuant to the authority conferred by resolution 7 as set out in the notice of,and passed at, the last annual general meeting of the Company, held on 18 September 2020, or by way of a sale of treasury shares, as if section 561 of the 2006 Act did not apply to any such allotment, provided that this power shall be limited to:"
It's what we voted for in the EGM and had to be submitted to Companie's house within 15 days...which they now have done.
What am I missing here?