The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
'The sp reaction is directly related to the vague and confusing communication from the RNS.'
The bottom line is that the wider market hasn't believed EUA for a very long time, so much so that clowns like TW and Jub have been burnt severely by shorting the stock.
EUA has suffered some of the worst shorting and deramping attacks of any stock over the last 2 years, even if the % shorted isn't high relative to the share count, the amount of rumours, lies and slander going across the different BBs and Twitter has been disgusting and would be enough to put a lot of people off buying in the wider market.
The ultimate question to ask yourself at this point is do you trust the BOD to deliver in their promises, there is obviously a reason that everything in the RNS has been worded the way it has.
It's either because of the NDA's still in place for Monchetundra, which was confirmed whilst the FSP began, or, this is all one big fraud and TMS and TBTT are right.
I don't why everyone is getting hot over it, its a very simple choice to either believe or not to believe.
Most important thing with the placing is that it was done at market price, and that the market price was 26.5p.
I saw someone mention that they've been forward sold, to be forward selling those shares, you'd need a sustained period all day long for weeks above 26.5p, which just hasn't been the case, we've been floating between 24-27p for ages.
Then to even be dumping the initial 53 million shares into the market, that would have seen the share price fall back heavily and it would have organically fallen below 26.5p, meaning they would have sold at a loss.
Would it make sense for the ii, just on the basis of basic risk management, to hand over money at 26.5p in the 'hope' that you could sell them at 27p and make 0.5p profit?
I wouldn't be too worried about the word 'signifcant', I would take it at face value.
I sense a few people are getting a bit confused here and I saw Billions tried to spread a bit more fear by implying that WK would be the only asset sold.
Let's get it straight here, Monchetundra is the crown jewel here, it has been for ages and is the reason that this whole interest spurred in the first place.
Since that DS interview in 2019, Eurasia have shown clearly they aren't interested in mining MT, once they were able to get an EPC in place, and licences secure including the Flanks, it became all about M&A, strategic nous and negotiating tactics.
If you remember at the start of the FSP when it was announced, this comment in the RNS:
'All existing non-disclosure agreements interested parties have already signed with the Company in relation to the potential acquisition of the Monchetundra asset remain valid.'
Since the Flanks licence RNS, which itself was very very brief, we haven't heard anything relevant to the development of Monchetundra, why is that?
https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/w68qlkr
Because, it's being sold one way or another, there has been a very clear interest in Monchetundra for a very long time because of the potential that lies, there is a reason that the SS has never been triggered.
They clearly spent months negotiating the different outcomes, which included the opportunity for a full company, and as they mentioned a few weeks ago, the time spent was all about the due dillegence from potential bidders.
Everything correlates well with the FSP Update in January in regards to non-binding offers, then the game clearly changed with the Rosgeo JV and Japanese interest, this clearly presented an opportunity to maximise shareholder value in a different way.
Refer to JN's comments in the potential asset sale RNS:
'We are also focused on the creation of a globally significant producer of PGM and battery metals. We believe the timing is perfect taking into account the consistent supply disruptions in PGM and battery metals segments'
There is an opportunity for someone to build a monster here, but it will be step by step, they will acquire MT, WK will be used to keep the company as a going concern, and the Rosgeo JV assets will be auctioned off one by one to the same buyer.
RMR's post earlier summed it up quite well.
You'll be surprised at how many shares stay in a trading range for so long, a lot of them sit for years waiting for news, LTH just hold on and traders trade, buyers buy the dips, sellers sell the spike.
It's a news game, so until we get some of news, it will stay here.
'I don't follow. My point is that the report is marketing material paid for by the company and not actual regulated investment research, all of which is *clearly spelled out in the disclaimer on the very same report*. I don't see how that is in any way 'waffle'.'
There you go again.
I asked you to address the fact that you said ACF reports are paid for whilst going on Twitter to ask them if it was paid for.
You then responded saying your question was before the report was produced, even though you clearly knewa report was coming by the fact the tweet you replied to confirmed a report was on the way.
Biggest waffler ever, joke of a poster, your attempts to come across as intelligent, canny and forward thinking are atrocious at best, I've heard more convincing arguments from Boris Johnson and Matt Han**** in the absolute debacle they made of the government response to Covid-19, that must have taken a lot of effort from you.
Can't say I'm surprised, a guy with a history in defending and bigging up major losers suddenly wants to turn the page and play the salvation warrior.
"My question (which went unanswered, natch) was before they had actually released the report.
From the disclaimer, again:
ACF Equity Research Ltd is a provider of **issuer-pays** research with a clearly defined independent ethic.
It was paid for by EUA(the issuer of the securities), just like the last one was. It is worthless as investment research. Very good advert, though."
Your question was pre-emptive on an imminent release of an updated report which ACF have pointed to for a week or two now and was expected by everyone and their dog following their original tweet. You knew the report was coming, because they said 'update soon' in the tweet.
In regards to it being paid for, who knows better about the value of the assets apart from the company?
In a situation where, if this was a company that had a BOD with no interest, no shares, no experience, no skin in the game, then the fact that it was paid for would be a sensible point to raise, in this case, there is no relevance.
Whichever way you try and spin this, your arguments always fall to the wayside because they are only ever backed up by waffle.
'ACF are paid-for ad men. Their reports are completely ludicrous unregulated nonsense. From the disclaimer:'
If this is a statement you are making, why did you reply to their tweet on Twitter asking if the company paid for it, you either believe every report is paid for or you don't, you can't have it both ways to suit the agenda of your post in that given moment.
Oh wait, this is what you always do...
It's not been a crap week.
You keep referring to non-binding offers, that was the FSP, the FSP is over, that scenario has changed and is now over and we are on to a potentially significant dividend, which has been touted by the BOD and SP Angel.
Adivisors taking millions, well, why do you think they are still taking millions? Do you think the BOD are stupid enough to give away free money, there is obviously a clear reason why they have kept UBS on.
The BOD have given tons of meat on the bone, they have made it a blatent that they are selling most of their assets (MT, or MT and WK), pay a dividend and then go all over again to do the same with the Rosgeo JV assets.
What is not to like, I'm genuinely lost by your post, we're about to get a meaty dividend, and future dividends for years to come.
Been saying this for ages, it's the most day trading tool available because it's so predictable, we will never move past the 30s until there is news of a dividend.
It's human psychology at it's finest, when the bid ticks up to 28-29p, people realise this may be their only chance to sell, thus you get a flurry of sells and it drops back, then those same indivduals buy back at 26p.
This is fantastic for Bitcoin, as well as the recognition of BTC in tax laws which the IRS is pushing forward because the White House has stated it is recognising the likelyhood of transactions occuring through crypto.
Can't see any reason to sell out after a dividend, it's like burning money.
If you get a free ride and get a dividend of say 80p, you have a licence to print free money over the next 2-3 years by holding those remaining shares whilst you also take away your dividend.
'In the latest RNS now they don't mention the previous non binding offers and instead suggest proposals were only received after the Rosgeo JV in March. Note proposals not offers now. It's like a completely different version of events.'
Billions, what you said speaks for itself really, they no longer mentioned the offers that were in play prior to the Rosgeo JV.
Hence why they referred to it in the latest RNS in the context of newer proposals that took precedent after the Rosgeo agreement.
You may say it's cryptic but in my eyes it's only cryptic if that's how you choose to see it, they've worded it vaguely and specifically to keep all doors open.
You have to remember, half of this game is all tactical, M&A, especially in this specific case isn't just as simple as tick this box, tick that box.
The assets EUA are selling may bring a lot of geopolitical and environmental considerations in to play, there is obviously a reason for NDAs, clearly the parties involved have a specific reason as to why they want to keep this so quiet. We don't know whether Rosgeo's decision to give EUA dibs on these assets reflects their current relationship with NN.
There's so much factors at play here, what we do know is, we've got a fantastic BOD, and clearly there was a reason that James Nieuwenhuys left Lesego to become CEO and MD, and more importantly, the reason DS is now M&A officer, it all points to a strategic approach in moving the company forward.
Billions, you said:
'Non-binding offers were mentioned in Jan for both assets and company. The contradiction is exiting now without any sort of done deal, bidding war or consortium to carry on discussions with a single buyer... after nearly 12months in an FSP and longer since initial discussions with buyers.'
That is simply not true, you said they are exiting without any sort of deal, bidding war or consortium, the RNS states that:
' is pleased to announce that a proposal has been received for the acquisition of certain assets of the Company, the conclusion of the strategic review and Formal Sale Process ("FSP") and an update on its operations.'
'However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent ("Pt eq") Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project on Kola (as announced on 26 March 2021), the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale.'
'Until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms.'
'The Board will continue to explore value creating options for the Company. Eurasia's current advisers will be advising on these value creating options.'
They have said they are pleased to announce they have received a proposal to acquire assets, they have blatently pointed out due to the Rosgeo JV, whatever offers that were on the table prior to acquire the company are no longer suitable.
They are also suggesting that some offers prior may not have been credible and now they have finally found a 'credible' party that is willing to buy 'substantially of the company's assets' but not the whole company, which is obviously going to be MT, allowing the company to pursue the JV assets going forward.
They have also said, Eurasia's current advisors will continue on, and at the bottom of the RNS, UBS have re-confirmed their position as Eurasia's financial advisor.
So to suggest that they have come out of this period without anything to show for it is either a blatent ignorance, or a clear lack of ability to read and interpret words and phrases.
The FSP process is over, if in the event that the company did not receive any credible bids in regards to any asset sales, there would be no benefit to anyone going forward to make lies in the RNS or keep on UBS as a financial advisor.
The only way out for DS and CS at this stage is an asset sale, this idea that you can keep the share price inflated by spinning lies is a fairytale conspiracy.
'The company just spent months in a FSP for the sole purpose of extracting an offer for the company. The FSP has now ended and still no hard offer.'
Circumstances changing IMO.
My personal belief is we had an offer from NN in December (which I believe was the cause of the rule 2.9 announcement), then something changed which is why we saw the AC sale and subsequent Rosgeo JV.
Almost seems like NN were throwing jabs and distancing themselves from any possible movements of M&A in PGM's going forward ever since then, coincidence? I think not, are they ticked off that because the state decided to hand the Rosgeo JV to EUA?
Whatever has changed is a result of new developments that will further enhance shareholder value in the long run, something sweet to keep us happy for now, and then in the long run, a good stream of dividends.
Bottom line is you either trust the BOD to deliver or you don't.
Because more than likely, we will see a significant dividend, and not a full company sale so there is no longer a need for an FSP, whatever was offered for a full company sale was clearly not acceptable for the BOD.
Looooooooooool,
You really think so high of yourself don't you, plugging your own 'interview'.
So much self-importance in every post you make, motoring around every chat board and Twitter in the most patronising way.
Bring yourself down a level, you aren't the UK's answer to Warren Buffet or Charlie Munger.
Seasick,
You are saying make your own mind up, yet you're whole post is pushing the rhetoric that we shouldn't believe what we've been told.
Have you not read the recent RNS?
We've made a decision to end the FSP, for a specific reason.
'Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that a proposal has been received for the acquisition of certain assets of the Company, the conclusion of the strategic review and Formal Sale Process ("FSP") and an update on its operations.'
'The Board has decided to focus on this potential asset sale.'
'Shareholders should note that one of the potential transactions proposed is one to which AIM Rule 15 (the fundamental disposal rule) would likely apply. Accordingly, a circular would be published by the Company and the transaction would be conditional on the consent of the Company's shareholders being given in a general meeting.'
'The Board will continue to explore value creating options for the Company. Eurasia's current advisers will be advising on these value creating options.'
I honestly can't deal with some of you clowns sometimes, this is why I post less and less on the EUA BB, there's some great people here but some of the posts I read just irritate me to beyond a reasonable limit.