Member Info for Montmuzard

@Beast - Worth also noting that the value ascribed to the stockpiled ore is solely for the platinum, so who knows how much iridium or rhodium is in there too? With the former at $4700/oz and the latter at $12250/oz you don't need many ounces before you're talking about serious money.

"Perhaps the company have been advised not to sell any raw materials to maintain what must be a very delicate tightrope not to become sanctioned?"

Nice try. I can think of at least three reasons why this is nonsense: (a) it isn't Eurasia selling the concentrate, it's the Russian subsidiary, Kovinsky Kamen; (b) PGMs haven't been sanctioned and there's no sign they will be; (c) the likelihood is that they'll be sold into non-western markets anyway.

"Well we know they had $35m in sept 2021-it’s now £4m, say $5m.I call that dwindling"

Literal nonsense. It all depends what they've spent it on. And if the expensive things they've spent it on are complete, then the rate of spend going forward is likely to be completely different to that which preceded it.

Where is your evidence that cash is dwindling rapidly? The $4m alone could last months, given that the various drilling programmes are now complete. Add to this the fact that WK is now becoming seriously cash generative, I would argue that the company's financial position - while it is clearly moving towards executing a sale of assets - is more than stable enough.

It's all in the DFS which those with access to the data room are currently perusing while rubbing the big heavy bag of gold doubloons on their hip.

Not surprising, given the FUD-spreaders have been out distributing their muck all weekend. Nice to see the vast majority of holdings - over 99% of the company's traded stock - being held tightly for the endgame.

"Clearly states in RNS under 'Cash Position' the stock value for WK as £5.6m."

Which is nearly double what it was when they first announced they'd stockpiled it. Clever move.

I see the green coffins are out in force. Three points that have percolated in my mind overnight.

1. We don't know *when* the DFS was submitted. Could have been yesterday. Could have been the day after the interims were released. Either way, it means approval could be months away, weeks away, or just days away.

2. Although the DFS hasn’t been made public, everyone with access to the data room – i.e. the credible party and any other potential buyers (the ‘additional interest’) – will be able to see the numbers in clear black and white, signed off by a competent person. If they really want the asset – and it is, after all, the last non-consolidated palladium play – they’ll all be getting itchy about whether one of the others is going to put in a material offer.

3. The implication, to my mind, is that a binding offer could come at any moment (subject to conditions such as approval of DFS by Rosnedra or whatever). Nonetheless, it’s pretty clear that PGMs are not going to be subject to sanctions, BRICS parties are not bound by them anyway, and the business environment in Russia cannot get worse from their perspective from this point onwards.

4. Of course, there might only be one credible party at the table, and that might consist of a massive consortium taking out everything including Nyud (which is what I suspected might be the case before the war). But, if Eurasia are frustrated at how long the Nyud licence has taken – hence the new licence application? – maybe Mac is right: maybe they’re going to pull the trigger on the two advanced Monchetundra projects now, and stay in Russia longer to develop NKT and Nyud (or the new licence) whenever it comes through. Who knows?

5. Either way, I’d be very nervous about not holding my full complement of Eurasia shares at this moment in time. I’m also very reassured that they’ve still effectively got around £11m available to them, which is a nice buffer.

Might sound counter-intuitive, but I'm actually very reassured by the fact they said so little about the sale. Implies to me that it's definitely still progressing, the board clearly expected it to be done by now - which means they're anticipating it can still be done at some point soon - and the NDAs are tighter than a duck's backside. Clearly don't want to give an inch at this moment in time while lots of plates are spinning, risk a disorderly market, or unwanted attention. They know all the really supportive shareholders are still holding long and strong.

On the sale price, obviously there will be a discount given the circumstances. But part of the reason I suspect the BOD didn’t just have a fire sale in February, was because they were holding out for a better price. Recent deals in Russia have followed that trend. I still think it’ll be close to a quid.

No it isn’t and you haven’t been paying attention if you think so. Besides, my point wasn’t that it will happen. If the intention were to activate Sinosteel, it would likely have already happened. Ergo: follow the RNSs, the asset sale is still progressing.

“If we reach that point it just highlights how absolutely shambolic our bod are”

Utter nonsense. If you actually read the RNSs you’ll see they’ve been clear all along that they’re progressing things on the operational side as well as the strategic side so as to keep all options on the table.

Some huge buys going through today at the lows. Looks like the FUD-spreaders are getting what they wanted, shaking a few from the weak hands.

Oh, and even if there was no sale, so what? The licences are all held by Russian subsidiaries, so the board could activate the Sinosteel contract and move to production. Just see what happens to the share price then.

Yes I do believe it. Because I can read and understand the implications of RNSs. The market movements are completely meaningless and people throwing their toys out of the pram on forums like this have no effect on my investing strategy. I’m as convinced as it’s possible to be that this will end in a positive outcome for all shareholders. Just read the RNSs from the past three years one after the other, blocking out all other noise. It’s all there in black and white. We’re obviously just waiting for some conditions to be met - licences, DFS, whatever - and then the board will be able to execute.

If there’s anything we know about this BOD they drop news whenever nobody is expecting. Wouldn’t surprise me if the DFS was submitted weeks ago and we get a single monster RNS with everything sold any day now. Hopefully intraday.

I’m an LTH and waiting patiently for news. Volume has been so low in recent weeks and months that so little of the company is being traded. Ergo, it stands to reason that most LTHs are doing exactly the same. Holding. Long term.

I did read your message Paul, but you’re wrong. It’s a simple process of deduction. Just read the RNSs. Every single one has emphasized that the sale process is ongoing. So it stands to reason that you are wrong - unless we hear otherwise by RNS - that the sale process is off. It’s obvious to me I should be dating one of the Spice Girls and playing football for England. Doesn’t mean I’m right.

It’s not at all obvious that a sale of assets is not happening. Quite the contrary: if there was a material change from RNSs passim, they would have no choice but to issue an RNS immediately stating that. Ergo, you’ve answered your own question: the reason Sino hasn’t been activated is because the sale process is progressing. It might be doing so more slowly than anticipated, but that’s hardly surprising given the circumstances.

Some interesting price action today. All LTHs holding strong, MMs go to NT as soon as price tries to nudge northwards, barely any stock in free float. It’s a coiled spring. Slightest sniff of news and we’ll be off to the moon.