RNS Breakdown28 Oct 2021 10:50
· Further to the proposal (the "Proposal") from the credible party (the "Buyer") on the potential asset sale announced via RNS on 12 May 2021, the Buyer has informed Eurasia in writing that it has successfully completed its due diligence.
-----WHEN was this completed? All the way back in May?? What does it mean NOW?
· As announced via RNS on 30 September 2021, since the receipt of the Proposal in May for the potential acquisition of substantially all of the Company's assets, additional interest from other parties is being considered by the Board.
-----So a proposal came in MAY, yet theyre STILL considering additional interest. Does this interest include substantially ALL assetts aswell or not?
· It is the Board's intention to advance several options with advice from UBS, DLA Piper and other advisers.
-----Ok. They "intend" to advance several options. Advance to what exactly? What options? What does it mean? Askin for MORE money from the already existing offers? Binning the one that has done due diligence??
Until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms.
-----Now HERE IS A CONCLUSIVE COMMENT. This is straight forward and is a warning that they may HOLD ON to the asset os some of it or most of it!!!
Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted that we are advancing several transactions concurrently. We see competition for Nickel-Copper-PGM assets (with a similar basket of metals like ours and the assets included in our agreement with Rosgeo) increasing on a global scale".
-----So first they "intend" to advance. But now theyre "advancing several transactions"?? So which one is it then?
James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "We are advancing our development projects to production, increasing production on our operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well".
-----How do you plan to advance? How do you plan to increase prod? What do you mean more strategic options? Further placings? What are the timelines for all of these advances youre making?
Answers on a postcard, keep em sensible and lets have a proper discussion about the wording.
Non alcoholic beverages all round
Spiffywhizzwazzock