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Hi shed
I sent LR a number of emails of which he never responded. Hence I decided to post my frustrations here. I know he will probably not even see it here but as shareholder I believe time has come for us to hold LR to account with our investments. I for one believe that we should have been having a JV partner by at this stage.
I hope this finds you well.
I came into this investment while the company was still FCR with assets in South Africa. Then company focus changed to explore resources in stable political region (as you are always preaching).
A lot has happened along the way;
In 2018 the BoD knew before hand that the Australian exchange will not allow for economics on the scoping study but it was published and investors were disappointed then you come out to tell us "yah the Australian exchange would not let us publish the economics". Had you been on top of your game you would have warned investors before the RNS was Released.
You kept diluting us all in the name of drilling for metallurgy samples which were only sampled on the drill campaign conducted after a third raise.
You keep conducting useless interview with only 60 seconds worth of content that you somehow find a way of stretching to 6 to 10 minutes of utter nonsense.
You tired one of the joint brokers and you left the one that keeps giving us a rehearse note, who do not see any value added by all the work done in the past 18 months.
You now sit as a C.E.O after you left BZT where you kept the share price depressed with your silly talk of "it's all about the end result" see now after you left BZT the share price has improved.
What is it that you gain when EUZ share is at these low levels?
Why can't you have Private investors interest at heart?
Or is this a lifestyle company for you? Could this be the reason you are afraid of bringing in JV partner(s) ? Because you know they might fire you when the realise all you care about is drawing a salary and nothing about the private investors.
IT IS NOW CLEAR THAT YOU ARE THE PROBLEM HERE, NO ONE IN THE INDUSTRY TRUSTS YOU. AFTER YOU LEFT BZT INVESTERS HAVE BEEN VERY ACTIVE THERE.
On LinkedIn in you have written a very nice bio but I can't even find a single company that you were part of that ever made headlines.
Now you are going to be part of a conference that starts tomorrow where you plan on sharing bara report, since when is price sensitive information released through conferences/workshops.
Yours sincerely
Frustrated shareholder
@jedster. On EUZ LinkedIn there is a guy named Theodore Doulton listed as an intern. Maybe he is the one playing with our Twitter handle.
At BrickzSA may you please ask LR which of our RNS was co-authored by this Doulton dude, in his LinkedIn bio he claims to have co-authored an RNS. Maybe that's why our sp is where it is, the Market can't take RNS authored/co-authored by interns seriously.
Hereunder is an extract from the August 5th RNS:
The Company is currently focused on increasing its understanding of the Toral Project, with the
following workstreams ongoing:
• A new, third phase, metallurgical study, being conducted by Wardell Armstrong International
(“WAI”).
• An ore sorting analysis programme conducted by Bara Consulting.
• A product marketing and sales initiative.
• EU grant application for project funding.
• Awaiting Investigation Permit decision by the Junta of Castilla y León for a further three years.
So looking at the RNS there is only two things left to be announced further, 1. EU grant outcome and 2. The permit renewal. But LR has mentioned that Bora are working on updating the economics for Total. GLA, I hope it comes together well for all of us.
Good evening all
I have been researching on the EU grant requirements and I've discovered there is a minimum guarantee requested of £60 000. There more the grant needed the higher the guarantee needed.
I am now convinced that the latest placing has to also do with the guarantee for EU grant.
Morning y'all
There is a SENS (RNS) on the JSE. I have copied and here I paste;
The JSE has declared a trading halt in terms of its trading rules in Europa Metals Limited (the
“Company”) shares. The JSE has halted trading in order to assess the impact on the market of potential
settlement issues arising from certain transactions in the Company’s shares on Thursday, 16 July and
Friday, 17 July 2020. The trading halt will be lifted once the JSE has identified the parties that may be
impacted by these settlement issues and those parties have been advised accordingly.
Beginning of the year EUZ realised a corporate strategy for the year, no mention of consolidation or constitutional changes. All the works was funded for this year; Mets, continuous hydro monitoring and other works. No money was allocated for share consolidation costs.
A partner came along and wants to inject capital on conditions that;
1. Share consolidation
2. Constitutional changes limiting the authority of directors to dilute the company
3. A full time chief executive
But all will be clear late July or early August.
GLA
No institution will ever take EUZ serious as long as it doesn't have a full time CEO and a well defined BOD with clearly defined roles for BOD members.
A potential partner wouldn't want to JV with a junk status company hence share consolidation and the need for a more prudent and definitive constitution. It's obvious LR has confidence in the future value of shares hence now he is seeking our approval for salary payments in shares.
I stand to be corrected but listening to his last video interview I think I heard something along the lines of board restructuring as the company is now a grown up AIM resident.
I think all will be made clear by the 16th of July. Keep well good people.
Good day fellas
I follow Turner pope(TP) brokers in one of the investment news platforms.
I have noticed that TP always post a commentary when their clients issues an RNS. However, I have never seen them do the same when EUZ issues an RNS.
Maybe you might find this not important but could it be that they don't consider EUZ a client worth their time? Could this be the reason we always get a wish-washy broker note update from them?
Anyone with a direct email to LR could you please ask for clarification on the TP position as our broker.
As part of DD a potential JV partner might have raised concerns over the volatility of the share price, hence we also have the unmarketable parcels (Holdings of less than £1000).
Correct me if I'm wrong, the unmarketable parcels can not be traded on the market it can only be sold/ purchased through the company (as I read through the latest RNS) this will limit intra-traders from fluctuating the share price.
@Numptypi
I think we need a full time CEO. LR is obviously failing us. This silence over funding reminds me of his intentional mistake with SS in 2018. The shareholders need to speak with one voice maybe that's when the exec will take us serious.
I am of the view that it's either LR sees some advantage in Keeping the share price depressed or he is just totally out of his depth with EUZ.
To all the LTH we have waited years to make our money back so waiting a few more weeks won't kill us.
I am sure LR pops into this BB even if it's only once in a while and he is aware that shareholders are anxious on news so he has no reason to withhold information.
I am of the view that there is a deal being finalized, awaiting legal protocols. Hence the prolonged silence from the BoD. The end is only a few weeks from now, we have held on from the days of FCR getting agitated now won't help. Yes it's frustrating but hold on to this a few more weeks,.
EUZ is not a large corporation that will require months of assesment of expenditure cuts.
its either there is a jv/sale deal being finalised or LR has been infected with covid-19 and incapacitated (this might be the reason CB gave the interview after BZT deal announced).
if after such a delay the next RNS doesn't adress sale/JV we should start a petition to fire LR. afterall we are the onwers of capital, of which he is supposed to be a prudent steward.