Member Info for Monkey70

'I'd also obviously be very happy with £1 too, but I just have this nagging feeling that, if we were looking at that (something like $4bn or so for a full company sale) then this would have been wrapped up long before now, so the BOD and UBS must be trying to squeeze every last penny out of it.'

IMO, several non-binding offers on the table translates to a bidding war amongst bidders. The more, the better for EUA.

Hope to top up later this afternoon. Just waiting for funds to clear. GLA.

Wareing - EUA did not specifically want to sell initially - they were approached by several parties (confirmed via a RNS).

This is no 'distressed' nor 'fire' sale. The bidders want us much more than we need them.

AIM is notorious for being sentiment and news-driven as R&H pointed out a moment ago. There is no news due to the NDA's.

I would have a read of this as it gives a decent valuation model: https://www.powerof78.com/2020/09/13/eua-sep20-valuations/

GLA.

Good evening, Lancerman - Hmm. I have not be able to find any details either and you could well be right - it is a failsafe by way of a message to the big boys: 'You give us top dollar for MT or we will actually mine it ourselves.'

I know it is a fallback option (and, IMO, very unlikely as the FSP has been progressing since July, DLA Piper have been brought on and there are several non-binding offers on the table) but I wanted to ask if anyone knows the terms of the EPC and Financing contract with Sinosteel? Do SinoSteel get a percentage slice of the profits and, if so, how much?

GLA

Well said, Mac.

'The most simple calculation you can make, is the output X metal price. Now, for 1,000,000 ounce yearly output target, do people honestly think the BOD will accept 1 years worth of gross revenue as a buyout figure?'

Let us assume the mine life is between 20-25 years. I cannot see the BOD accepting less than 5% the value of MT (based on your post above). They would want at least a quarter which would be negotiated down to between 15-20% to make both parties happy, IMO. Based on that, 3-6 years revenue.

Just my opinion.

Have a good weekend, all!

https://www.powerof78.com/2020/09/13/eua-sep20-valuations/

This is a decent valuation model.

To me, although my average is around 16p, the most important figure to me, since I am holding for the FSP conclusion, is how many shares I have. In the short-term, the SP is just a sideshow run by the MM's to get shares on the cheap for the big boys at 'mate's rates'. Anyone who doesn't believe this is naive.

Have managed to source some more funds for Tuesday or Wednesday, so if the SP is still in the twenties by then, I will be adding to my collection of golden tickets. My faith in the bullish PGM forecast and the BOD with the FSP has remained solid and will continue to do so unless they tell me otherwise.

Just putting my money where my mouth is. Those green boxes that keep rabbiting on - I challenge you all to open a short, if you haven't already done so ;)

Have a fantastic weekend, genuine investors.

GLA.

Impatient Rainbow Chasers that do little to no DD.

Sadly lots of people (especially the younger generation have a warped sense of entitlement and 'have to have it now').

Those are the little boys, IMHO.

Aye, Cap't - Looks like a classic case of weak PI's gifting their shares to the MM's to give to their mates (II's and whatnot) at discounted prices. These weak PI's should not be investing (if you want to call it that) least of all on the Alternative Investment Market aka the Wild West of the financial world.

Hope to have access to more funds early next week (if the price is still around here) and will happily top-up again.

Just tell yourself - have the fundamentals changed? They have since I first invested in July last year at 13p - FSP, MT Flanks, WK DFS, DLA Piper and the bullish trend for PGM's - in a very positive way.

Anyone on here who repeatedly 'wets their bed' and/or spouts fabricated drivel goes into the green bin.

Chilled. GLA.

Jet - Aye, IMO, anything bought for less than any II bought-in price is a silly bargain. Follow the money.

Found another £250 down an old proverbial sofa so topped up this morning. Just 978 shares but every little helps :)

Reading up on this RYA Day Skipper course - my dream is to get a second-hand motor cruiser and spend my winters in Lanzarote.

Have a nice evening, genuine investors. GLA.

Worth remembering this oldie but goldie - 'Bashers never bash a bad stock'. Ask yourself why they are so adamant EUA will fail and why they go to every extreme to push that agenda? They certainly are not doing it out of the goodness of their hearts (laughs).

Ignore the noise. Every day that passes is a day closer to the FSP being concluded.

GLA to all genuine investors.

Casa - Aye, the MM's play on two basic human emotions - fear and greed. The weak are being rooted out like pulling weeds on a lawn. Best thing to do, as long as the fundamentals have not changed (which they haven't) is to ignore the games and accumulate if you have dry powder.

Chilled. GLA.

Gary - A mix of cash and shares certainly sounds like a good outcome. If it is NN I don't believe you can hold those in an ISA (this has been mentioned in the past on a thread but cannot find it as there are too many!)

I would definitely consider holding some NN shares as I know they would make plenty of money from buying EUA's a few years down the road in a bullish PGM market.

GLA.

Is that £10 a share, Saxon? :)

Anyway, used to have a 2006 997 C4S. Lovely car to drive but most other motorists didn't approve. Even had a grandmother in a Micra flipping me the bird while I was at the lights (laughs).

Will stick with my 2008 Vantage and cough up the £3.5k for a new clutch and flywheel post-conclusion here.

Have a lovely Sunday, guys and gals.

Ah, spineless bleating from the green boxes again?

I would hazard a guess that some of the people who bought in for the first time at, say, 41p were following the herd and thought they could make a 'quick buck'.

I missed out at buying around 10p because I wanted to ensure I felt comfortable with my investment before committing so after some hours I convinced myself they was great potential upside (and a safety net of the SinoSteel contract) so first bought in the second day after suspension at 13p.

Do I regret not buying my first chunk 30% lower? Not at all. I would never throw money in without doing a broad spread of research - I learnt my lesson the hard way during the dot com boom and bust of 1999/2000. I feel comfortable with my investment and have added over 175k shares between July and now to my initial 50k shares buy - which has increased my average holding price.

Take responsibility for your actions and always do your due diligence. Otherwise, as I have said before, there are plenty of online bookmakers happy to take your cash.

GLA.

228,800 at the last count. 70% are in my ISA and my partner's ISA, thankfully.

If the Chancellor raises CGT in line with IT, IMO, it will take effect in the 2022-23 tax year not the coming one. I am pretty sure the FSP will be done and dusted well before then (laughs) :)

Holding to the end. Chilled.

GLA.

I reckon the non-binding bids were on the table before the RNS of 14th January and were awaiting the WK DFS as the final piece of information before progressing to binding. The DFS was originally due by year end but was delayed. I would hazard a guess that the non-binding offers were on the table a couple of weeks prior to year end (the expected date of the DFS as per previous RNS).

4-8 weeks is the usual timescale from non-binding to binding. Some may say because of the complexity here it could be longer but remember DLA Piper were brought on board in September (three months before the DFS was originally due) and the FSP has officially run since early July (or, unofficially, since October 2019 when CITIC came on board). All interested parties would have had access to the data room and AP stopped 'proving-up' work in the region in November, I believe.

GLA.

George F. Baker…

To make money in stocks you must have “the vision to see them, the courage to buy them and the patience to hold them.”
Patience is the rarest of the three, but it pays off in the long run.

That’s how fortunes are made in the stock market.

Otherwise there are punts with William Hill, Ladbrokes and BetFred wanting your throwaway cash.

Chilled. GLA.

Snowed in so found another grand down the back of the proverbial sofa and topped up some more at 27.55 earlier.

Like you say, Onassis, it is a no-brainer for me too. :)

'Our willingness to wait reveals the value we place on what we are waiting for...' (Charles Stanley)

GLA.

Seeing a lot of green boxes this morning.

I had to smile when I just thought that for every three posts they make on here, they earn themselves one precious EUA share.

As always, holding till the end and very chilled. GLA.