Member Info for Moneymaker2015

I was just looking through the RNS’s wondering when our Q2 update was likely to drop and then just had a skim through the accounts, comparing last years interim with the full year.

I didn’t notice when the full year results first came out but for H1 last year we posted an operating profit of £37,545,814, then the full year results show only £22,253,811.

Am I reading this correct in that thinking we effectively made a loss of circa £15m during Q2 last year?

I’ve been trying to get my head around the low share price for a while now but if I am right with the above, that would explain it.

It’s likely we’ll start to see more interest the closer we get to 30th September. It’s intriguing to see how things are going to pan out here.

I’ve been busy with work and have only just read Mondays RNS (I’d gathered from the title ‘Tipil Licence’ what it was about). You can definitely tell the BoD are keeping things hush hush these days from the RNS content. When we received the flanks licence there was a big RNS with lots of detail, this one you can tell was thrown together quickly and has very little information. Does make you wonder if A1ex forced their hand by putting on twitter on Friday.

The sp is the biggest change. I remember when we got the flanks licence thinking ‘wow it’s a beast now’ but the share price didn’t move at all. We’ve had a nice 6p rise since Thursday though off the back of the Tipil licence. You can definitely tell times have changed.

I’m curious what the Mt flanks are going to do now. As we’d had quite a big jump the day after suspension I didn’t think the flanks may have had much of an impact. Now I’m thinking if the licence drops it’s going to have quite a move on the sp because it completely de-risks Mt. Hopefully we’ll have an answer by the end of next month.

Exciting times ahead!

Doubt?... I said up to £2 in the same sentence! If anything you should be arguing I’m ramping the share.

As I say my personal view of between 30p - 75p is a relatively small window compared to some of the figures I’ve seen thrown around on here. Hence, the ‘absolutely no one knows but realistically it’s somewhere between 20p to £2p’ comment.

It’s amusing how wrong you are with your presumptions about trading. Everything I do is based upon risk. At the moment there is far too much risk involved with trading these shares in comparison to leaving them sitting there. I wouldn’t chance missing out on a few hundred £k, for the sake of a couple of grand here and there. You are entitled to your opinion though, so no problem if you do believe I am a ‘trader’.

Duck, my post was saying no one knows what the sale price is going to be but realistically it’s somewhere between 20p and £2.

People have been getting hung-up on valuations. My post said “ At the minute, the only people that can narrow that down are the one privy to deal itself”.

It wasn’t discussing what I think the lowest price would be or the highest. Maybe read the full post in future, rather than just seeing a 20p figure you dislike and then commenting against it.

Curious about these “activities” though. What would I have to gain from the other day saying my personal view is that they wouldn’t accept anything below 30p, then today saying absolutely no one knows but realistically it’s somewhere between 20p and £2 if an offer was accepted?

Flyingduck, my personal view and realistic boundaries are two completely different things. I also mentioned the upper scale of £2.00. Do I personally see it going over even £1.00, definitely not, but it is possible.

Bleary,

It’s off AFC’s broker note:

https://acfequityresearch.com/wp-content/uploads/2020/02/Eurasia-Mining-Plc-MA-Valuation-FINAL-ACF-03022020.pdf

It’s a very useful guide. However, it’s based upon NPV and future projected cash flows. Theoretically it’s what EUA’s share price should be by the end of 2021, had the Sinosteel contract been activated.

It isn’t a sale price figure. However, EUA did originally post it on their website in Feb, after they had announced looking into a potential sale of assets, so read into how you wish...

The best indication you could get for a sale price is by benchmarking it off sales for similar plays. Obviously don’t just pro-rata these though because with the economies of scale effect, if you had twice the resources as another play, you wouldn’t get twice the sale figure.

Ultimately, a sale of the company is likely to sit somewhere between 20p and £2.00/share. At the minute, the only people that can narrow that down are the one privy to deal itself.

Broker notes are indicative based upon set criteria being met. They show a companies NPV, which is how most developers estimate a projects worth and decide whether or not to proceed.

Detailed ones are very useful tools. Many people just look at the ‘valuation’ and get disgruntled if the share price doesn’t match it.

shouldn’t* be factoring

Interesting read, but saying you can only use figures that have been RNS’d as EUA owning them and then saying use 15m oz in your valuation is very contradictory seeing as we haven’t been granted the additional 13m oz licence yet.

I posted a breakdown yesterday on here of the average time period for each application. Working off the average, the additional 13m oz will likely drop towards the end of Sept (assuming that it is actually granted). Using your logic though, which I agree with to a degree, you should even be factoring in the 13m oz at the present time.

Very presumptuous saying an easy 4-5 bags if buying in now, considering the only broker note we’ve seen on the matter (and released on EUA’s website) indicated a value of 54p, inclusive of the flanks.

After EUA I’ve got three things in mind, pay off the last bit of my mortgage, put some decent amounts in two shares I'm confident are going to 10 bag in 5 years and pop open bottle of bubbly number two (number 1 got popped after we came back on the market a few weeks back)

Rowka, I agree about Spike. I genuinely liked the guy, yes it was clear he some ulterior motive but he knew his stuff and stimulates conversion. De-rampers I have no issue with whatsoever because someone will usually always come back with a counter-argument. Plus, if a company has solid fundamentals, long term no amount of de-ramping will keep its share price down. It’s people ramping that haven’t been invested for long that I don’t agree with. So many mis-informed people lose money on the stock market. It’s very easy for a new comer to see someone saying ‘this is going to be a ten bagger’, throw all their money into it and lose everything.

Yes, you have to give the BoD credit with some of the big names they’ve got on board: Sinosteel, CITIC, UBS. There’s not many junior miners that can bring in that kind leverage.

I admit, I think the Sinosteel deal is what has done them well more than anything. They would have always struggled to get the required funding to start operations the scale of MT, without considerable dilution anyway. Having the SS deal has prevented any hostile takeovers and having WK operational has put us in a position where we can now cover running costs.

On them keeping a lid on it. I was a little gutted when Alexei Churakov first mentioned in the interview about the 21m oz. My initial thoughts were why would you advertise to every miner in the world that there is that kind of resource in the area, yet no one currently owns licences for it! On the otherhand, it may have been a stroke of genius to get a lot more bidders interested, without EUA having to do any additional exploration.

I’ve got to say chaps, tonight has been a good discussion, without any ‘bot flies’ making daft comments.

I’ll happily talk all things good / bad with EUA. I’ve been here bloody long enough so may aswell make use of hours of reading over the years haha. I admit some people mistake my comments as ramping / de-ramping because one day I’ll be discussing the potential and the next I’ll join in a discussion about risk, but no investment on any stock market is without some form of risk. Unfortunately, many people don’t like hearing about risks in somewhere they have invested their money.

Overall, I think no matter what entry price anyone has come in at here so far, with our resources potential I think we’ll all be in a profitable position.

Rowka, it’s the copper and nickel in the area that many on here don’t realise the value of. Masses of it go through Norilsk’s facility every year, yet people are just concentrating on Pd and not realising how well we’ll do off the other metals. If you were to take out the Pd completely, MT is still a very profitable play with its volumes of Pt, Gold, Nickel and Copper, moreso at today’s prices.

To be fair to Anglo though, at the time, as you say they were there for the Pt, but with it being Pd dominant it just didn’t warrant someone of their size continuing with it. EUA however were the size of company you would envisage carrying on with it whilst metals were at the prices they were.

CS had said early last year, well before the flanks or the banks were mentioned, that a number of parties had already approached them, offering to assist in the development of MT.

I imagine a number of heads started turning EUA’s way as soon as Pd started rising above $1300.

I’ve been thinking the same thing for a while now but them keeping WK, so revenue continues. Although, even Semonovsky has decent potential now with gold prices as they are.

Yeh I agree, it’s definitely among my lower risk investments as I can’t see the company going for less than 30p, although more likely significantly higher.

I am really curious as to how the BoD are going to play out the sale. Obviously we all want a good deal and most want it done quickly but with the potential of Monchegorsk and the surrounding areas it would be such a waste to sell-up without aiming to retrieve any further licences.

Just think of the full potential if we were to bring a partner on board. Let them crack on with production at MT and let EUA do what they do best and unlock the areas true potential.

Haha I was literally just typing that!

I think to them MT is always going to be ‘the one that got away’

Yeh but to be fair to the BoD, 10 years ago they only had exploration licences for WK, MT and VT, Pd was near worthless at $450/oz and they couldn’t afford to continue funding them all. Understandably they opted to let VT go as they wanted the higher grade Pt plays. I’m sure CS has been kicking himself the last couple of years though for not continuing with VT.