Member Info for Moneymaker2015

The figures aren’t incorrect, it is 2m oz. Look at the presentation EUA released last month, it explains things in a simple manner, but effectively:

1. We have a permit to mine an area containing 2m oz.
2. We have recently received an exploration licence covering an area that previous exploration (by others), has indicated to contain 13m oz.
3. The additional resource areas, that ‘could’ take it to a total of 40m oz are not owned by EUA. This is surrounding areas, that EUA ‘could’ apply for if they wished. Similar to the 13m oz, some exploration has been taken in this area also, which has indicated the additional uplift in resource.

The details in Proactives article are factually correct and information we have known for a while now, hence why EUA have been able to publish it on their website. I’m not sure why some people are saying it must be wrong..?

It’s always been $2b. That refers to the 2m oz PGM equivalent covered in our mining license. You’ve got to remember the 13m oz is an exploration licence.

You say not long, but we’ve seen it all before many times already. I’d actually forgotten how many times the financing had been knocked back already.

First time it got knocked back the revised date was extended to 29 May.

Second time it was pushed back to 30th June.

On 21st July it got pushed back to 30th September.

On 30th September they announced its been pushed back, with a target date (not a deadline this time) of 30th November.

Considering Blyvoor is only a tailings project and we only own 50% of it. You can’t help but think that LC is clearly struggling to get advantageous funding. What makes it worse is that even if funding is confirmed on the 30th November, it’s going to be two years until Blyvoor is in production, so there’s going to be a raise or two required, just to keep current operations going.

I’d lost some faith in LC after what he’s done at KIBO. Unfortunately, in the 12 months I’ve been in here he’s done exactly the same thing. Giving away Imweru earlier this year (a billion dollar asset), for a measly $1m, in stage payments too I might add, is by far the worst decision I’ve seen made by any CEO in every share I’ve ever owned.

I can’t help but think that ‘not long to wait’, will turn into a very long wait with the way things have been heading.

Bamb, I’ve got to agree with you on that one. I went ‘bargain hunting’ in April when everywhere was rock bottom. Got in here somewhere around 0.09p and MNRG around 0.4p. The latter I think will take off fairly soon now they’re generating cash and still have a low number of share issue. Definitely not complaining at how UFO’s performing though, has took off much faster than I’d anticipated.

Well this is a nice little surprise seeing as above 1p. I getting the same butterflies I got when EUA and GGP had their initial rises. Hopefully it’s a sign UFO are going to follow suit in the not so distant future.

Yes Wentslands, I have only just realised... I hold about different 40 shares, UFO is only one of which, and one that I’m not currently keeping track of. I’m not sure why you find that hard to comprehend that someone may only check a share price once every couple of months or so.

I don’t know if it’ll get to 10p in a couple of weeks but if we do manage to get the remaining 50% of the mines on good terms, it should absolutely smash the 10p mark then.

Provided we can avoid dilution when funding the acquisition, we’ll have assets that will be producing 100k oz per annum within 5 years. That could be near £100m post tax profit!

Out of all the shares I own, I think BMV definitely has the greatest potential (provided things go to plan). Definitely looking forward to the next 2-3 months.

I bought-in here around April but haven’t really been paying much attention to the share price as I’ve got it as a long term hold. Just realised today that I’ve 10 bagged on it already haha.

It’s been an alright last 12 months, EUA and GGP have 10 bagged too. Hopefully UFO will keep rising an get me a 100 bagger in another couple of years.

I don’t know if you can blame it on the MM’s why the share price is going down. Looking at the volume of sells over the last two days it looks more like the price is reducing due to the number of holders jumping ship.

Only just seen this RNS now. I particularly like; ‘The Company remains confident that it will be able to fund the acquisition’. If this turns out to be the case and we avoid dilution, the share price will be immense later down the line.

Hopefully we can get everything done and dusted this side of Christmas. It’d definitely be a nice little Xmas present!

The selling is a mix of a few things:

Traders that make a few quid then move on.

People putting there money elsewhere. As good of an opportunity as EUA is, the likelihood of it 10 bagging from the current share price is pretty slim compared to many other stocks on the market.

Third one, as Ian says the odd long term holder taking some profits. If the sp stays above 35p today I’ll be taking out £20-25k myself as there’s something I want to do with the cash.

It’s just people taking profits (no matter how small), which in the end of the day that’s what we’re all here to do.

I’ve got my money on Bluebird (BMV) and Ironveld (IRON) in the short term. Both are expecting huge news this side of Xmas, which if both go to plan should have very positive effects on the share price. Obviously, DYOR.

Usually I don’t tend to top-up somewhere after a rise but I’m really torn here. Things are definitely heading the right direction and with O&G project, if things go to plan we could avoid dilution in the future, meaning in a couple of years this could be worth an absolute fortune. What to do, what to do...

Alfa, you don’t need to preach to me about BMN, I already have a holding there and had for a number of years before that. I was there at sub-2p, then sold out (rather prematurely) at 20p. I bought back in again earlier this year and with an average of just sub-10p and do see it going higher in the future. Yes, I agree there will be an uplift in production but not for a few years yet, especially as the work at Mokopane was been deferred.

As I said in my earlier post, the battery market will take-off, when though is anybody’s guess as people on the BMN board have been saying it will take off soon for years now.

There’s been a number of comments about it being intentionally driven down. I’ve never seen any proof of that personally, just hearsay. The share price was on a gradual decline anyway and was somewhere around 17p before Covid-19 hit the stock market. It quickly went back up to about 15p, then a lack of positive news has seen it slip down to its current levels.

As I say, I have a holding there so wouldn’t bash BMN at all, but I don’t see it rising significantly anytime soon.

I’ve got a holding in BMN so I wouldn’t talk them down but being realistic their share price isn’t going to start rising significantly for a fair few years yet unless there’s a sudden rise in Vanadium prices as there was a few years ago. They quadrupled their current share price when Vanadium quadrupled its 10 year average. Now it’s back to its 10 year average, BMN’s sp has settled at its current share price. Until there’s a huge uplift in production, the battery market takes-off or Vanadium prices rise, it’s likely to stay in and around the current level.

Anyway, the here and now is EUA. Out of the two, I know where I’d prefer the majority of my holding!

To be fair to EUA, 12 months ago they announced the application to increase their MT asset to 15m ounces from the existing 2m, yet the mcap didn’t flinch, despite everyone knowing that the company would be worth multiple billions of dollars if it was received.

In relation to the loss making part, I know you’re in BMN too so that’s the easiest comparison as it’s similar in nature as both are loss making. The difference is that on EUA’s current working mine (their smallest asset), they’ve always contracted out the works to allow themselves to focus exploration on their biggest asset. This mining season is the first time they have mined themselves and the latest results don’t take into consideration the full benefits that will be made this year. The losses EUA have made haven’t been related to commodity prices, which currently are seeing Palladium and Rhodium soaring. BMN on the otherhand are seeing their losses directly related to Vanadium being on its backside.

To answer your question though, the main reason for the significant rise lately is that they received their licence for the multi-billion dollar area and have also initiated a formal sale process on 1st July , so are likely to be sold for a billion or multiple billions within the coming weeks.

Obviously DYOR

The unexpected delay for shareholders with the funding has had an obvious negative effect on sentiment. To make it worse it sounded like the BoD were already aware further due diligence was required, but waited until the point at which we were all expecting the funding to be finalised to drop the news.

As it’s likely to be a few weeks yet until we hear anything on either project, I can see the ‘unloved’ streak lasting a bit longer yet.

$43 isn’t a bad break even price. Considering the majority of plays in the US break even at >$60, a net cash flow positive play at $43 isn’t bad at all, especially as Brent Crude is $43.22 at this moment in time.

This most important thing is that we finally have an asset that is bringing in revenue and may potentially prevent dilution whilst we progress our other assets. Very good move indeed by the BoD going for this asset.

I don’t know, last half hour of most Fridays here we usually see the most and biggest buys. Wouldn’t surprise me if we just scrape the 40p today. Would put us in very good stead for Monday morning too.

To fair, it could’ve gone either way and kept increasing. TOOP is a long term hold, so if you don’t need your cash anytime soon, just leave it where it is for a while.