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"Unless this starts to rocket before close today, i think we can expect nothing is coming tomorrow at the AGM other than all resolutions passed and "sorry but we cant disclose any information due to NDAs. However all we can say is we are working hard to create shareholder value.""
Good. Let's hope that the board do say that, as it will confirm that there are indeed NDAs, which in turn confirms that there is plenty of interest and buyers sitting round the table negotiating.
It wouldn't surprise me if it's tricky to buy on the downward swings: just look at the data Tilly has been posting the past few weeks. The dips are designed to allow shorts to close out cheaply, while PIs are discouraged from trading by the inability to gain more than 1% or 2% on the rise and fall either side of 6.5p (while risking being totally locked out if news drops). As I said the other day, I take a lot of comfort in the fact that all the shorts are gradually closing out. They know what's coming.
"That’s just your opinion. For all’s you know there could be nothing on the table and eua are doing this extra work to make it easier to sell."
It's not my opinion. We know for a fact that they have received proposals for substantially all the assets from a credible party. Had that party withdrawn its proposal it would have to have been RNS'd.
"IF (BIG IF) this is the case then the hostilities are not the sole reason for the protracted time line."
This seems a plausible theory to me. It's quite conceivable though that the hostilities have thrown an extra spanner in the works, in part by making the newsflow around the strategy more difficult, which in turn has impacted sentiment and share price.
"The Group has spent £682,419 on a development programme for the Monchetundra asset during 2021 and has budgeted a further £527,000 for statutory reporting on this asset to November 2022, keeping the asset in good standing while strategic options for the project’s development are considered".
This is a key line for me. It's the BOD pointing out that MT (at the very least) is going, and, crucially, could go at any time. There’s no reason why it will take until November for a sale to be executed: the DFS may or may not be a requirement for one or another of potential buyers, and it has always been in the company’s operational planning anyway. In that sense, on the operational side, it’s business as usual.
This is why I don't understand the panic around whether or not the credible party is or is not still at the table. My assumption is that they are, but that the BOD (as was RNS'd) also received further proposals as the credible party completed DD. It's conceivable, in my view, that the different offers had varying levels of due diligence attached to them or varying requirements about what was needed in terms of JORCs and so on. Therefore, it’s quite plausible they are sitting on an offer of £X from the credible party that could be executed any time, but that they are also in discussions with other partners for complementary or competing offers that add £X to the overall value of the transation(s). Either way, if they want to exploit the latter, they cannot yet execute the former.
What’s gone wrong? Nothing. Aside from a war depressing sentiment and the share price, I remain bullish.
I have an even simpler metric for working out how close we are to the endgame: shorts closing. We've gone from roughly 30m over a sustained period of time (at a higher share price) to nearly 60m and, at these low prices, have progressively seen them diminish further and further. The smart money is all going long. Any PIs that have panicked and sold out in the past few months have simply gifted their shares impatiently to big boys with infinite patience.
Nice try, but Eurasia has zero debt, enough cash to get through to this time next year without needing to raise and is sitting on assets worth $184bn. Sorry if pointing out facts means whoever controls your strings doesn’t give you your 10p today.
You’re free to take it as a compliment. But it wasn’t. It was the opposite.
Philosophers distinguish between freedom to, and freedom from. Free speech means freedom *to* speak; it doesn’t mean freedom from being told what you’re saying is nonsense/deceitful/part of an agenda etc.
Absolutely, and it was just four months later that the biggest pandemic since the 1920s exploded, drastically restricting movement around the world for the next 18 months.
Four years and no sale ... yet. We know that the bidders who completed due diligence are still at the table and the sale process is ongoing, so it's patently untrue to say "no sale". The only facts that matter are in the RNSs, not your deluded ramblings.
Agreed. He also didn't sell any at the top (not that he could have) or in the 30s once the FSP ended which suggest that the numbers we're dealing with are many multiples of the current share price. Moreover, the fact the board are openly talking of liquidity events and assets sales with no disclaimers on them suggests the deals are as good as done.
Quite Monkey. I keep saying this: instead of listening to agenda-driven botflies (that's a word we haven't seen enough round here recently) people should just read the last three years' RNSs one after the other. It's all there in black and white, and it's the only information that matters.
There's no reason to suspect that at all. There was never - especially early on - any guarantee that a transaction would occur. It's often the case that, when M&A deals are going on, the board needs to find ways to insulate itself from that ongoing process so that it doesn't come to dominate their activity and distract from everything else. Their job is to set overall direction and focus on progressing the operational side of things. The very fact they clearly have progressed this substantially over the past two years implies that it was absolutely the right decision for Dmitry to step down and focus solely on M&A work (of which there has clearly been plenty to do). Remember, Dmitry is a banker, not a miner or an engineer: he is not the man doing license applications and negotiating mining plans or JORCs. Imagine if they hadn't done, and none of that operational work had occurred, and then the M&A deals had fallen through: the company would be at least two years behind schedule, rather than being the position of credibly saying to buyers "we can literally start mining in a matter of months now".
The drongos seem to be getting desperate now.
It's all there in B&W on the Eurasia website: Dmitry is M&A officer, Artem is a NED. These are *different roles* with different responsibilities and reporting requirements, so there's no conflict implied in having both of them on board at the same time whatever the FUD-spreaders who are trying relieve the nervous of their shares will tell you. The former has clearly been negotiating the sale of the PGM assets for many months; the latter has been brought in to speed things up, perhaps on the hydrogen side given his expertise (and the implication in the recent RNS that all of the company's Russian assets, plural, were going). Wouldn't surprise me if he has also been brought in to review, in an overarching sense, the lined-up deals, to make sure everything is above-board and serves the company's interests. Either that, or he's been put in place by the buyer. Whatever, it doesn't really matter.
Oh, and if you think that a lack of mention of Eurasia on Dmitry's online profiles - most of which haven't been updated for years - means anything you're a nutter. Nobody in my industry, unless they're actively looking for work, bothers updating things like Linkedin. As if someone buried in negotiating a massive M&A deal from which they stand to earn hundreds of millions of dollars will be thinking "oh my, I really must ensure that the random website that carries my profile from that thing I spoke at in 2016 is fully up to date". Get real.
I see the drongos are back with their tongues pressed up against the windows again. Must mean news inbound: RNS after hours tonight IMO.
"The bod need to let us know the plan and timing and what they are working on and what’s coming when. War has let to even more silence and us guessing".
You don't need to guess. It's all laid out in the RNS's.
Bare minimum 50p. Can't see them all working for 20-odd years to earn less than where the last dilution was at. I'm still of the view that - for all the assets - an SP in the region of £1.50 is very plausible.
"I really hope you are right but I still think the BOD should communicate at least something!!"
They have. They've reiterated that it's business as usual and the asset sales are moving forward on multiple occasions.