Member Info for mugwump083

75% of 104 million oz pgms from Rosgeo joint venture = 78 million oz of pgms. Add that to about 15 million oz from West Kytlim etc equals minimum total pgms of 93 million oz pgms in the ground just waiting to be dug up by EUA.

93 million oz pgms multiplied by about 2500 dollars per oz equals 232 500 million dollars value in the ground. That'l be 232.5 billion dollars value of pgms in the ground then.

Divide the three billion odd shares into 232.5 billion dollars of in ground pgms and you get $77.5 dollars per share. Allow 20% costs to dig it up and you get $62 per share over a life of mine of say 20 years is about 3.1 billion profit for each of those 20 years.

At a sale price of just ten times p/e that would be a sale price now of about $31 billion dollars or about £22.1 billion. Divide that £22.1 billion by the 3 billion odd shares & you get a value of about £7.30p per share value of EUA known assets per share.

Just something to ponder on folks !

West Kytlim in Urals with expected target of 64 000 oz pgms mined annually at 6 mining sites now with three mining sites equals half that at 32 000 oz mined per annum.

32 000 oz pgms at approx fag packet value ex mining costs of 2500 dollars per oz is approx $80 millions annually when dug up out of the ground.

$80 millions value divided by about 3000 000 000 shares equals 2.66 cents per share theoretical annual dividend. Annual dividend of 2.66 times ten p/e ratio equals share price of 26.6 cents and at p/e of 20 equals about 52 cents share price.

A sale price of ten times p/e at 52 cents per share is $5.2 billion just for WK. That's about £3.71 per share just for West Kytlim.

I wonder what the Rosgeo assets will end up being worth & what the share price will be when fully developed by EUA ? Very roughly about ten times as much I would have thought.

Mind you, I'm not quite sure my maths is right as I'm a little bit fisp issed

My watchlist of thirteen best performing unit trusts & investment trusts returned an annual rate of just over thirty per cent from Feb 2019 until about March this year 2021. The overall 29 month return since Feb 2019 is currently 25% today, despite stock markets worldwide being hammered. I have zero investment expertise or background/training etc.

In fact my investments in single stocks have mostly lost me money - with the exception of EUA of course which has more than made up for other losses. And EUA was just a lucky tip - no expertise from me. It could easily have been another loser.

Financial advisers I view with contempt as all the ones I have heard about my friends using have just lost them money.

I am firmly convinced there is no excuse for not bothering to learn enough to invest safely yourself just by taking a close look at things like unit trusts and investment trusts. They do all the work for you & spread the risks. Only idiots & complete suckers use savings accounts currently offering from 0.01 to maybe 2% max.

Back of the fag packet calculation new joint venture worth 78m oz pgms at fag packet pgm price per ounce of 2500 USD = 195 billion USD (before capex).

15m oz original WK pgm assets at back of fag packet price of 2500 USD = 37.5 billion USD

Total value of both = 232.5 billion USD total potential value of EUA assets. Divide this by number of EUA shares and you get a potential value of 82.74 USD per share divide by 1.4 to get GB Pounds and you have fag packet overall value per share of £59.1 before all development costs of approx 10% bringing net shareholder value down to maybe £53 per share.

And there you have it. The fag packet valuation to give shareholders some idea of what their shares might be eventually worth.

Puts things into perspective, doesn't it ?

Frol:

The bottom line is that the funding of the DFS is relatively a trivial amount against the potentially huge profits development of the resource should produce. It would be a lunatic move to fail to get on with it asap & fund it pronto. Which is already precisely what George is doing as he has already announced the initial first step is in hand to be completed by the end of April - vis the establishment of a base camp, plus Bars have been instructed to commence the DFS forthwith..

What more do you want ? Blood !

And it is quite correct for George to seek funding wherever good, appropriate financing is available before considering using his own personal funds. But should he fail to obtain financing elsewhere ( very, very unlikely) he would be bonkers not to fund it himself because that would be an exceedingly profitable move for him.

However you think about it, the DFS will take place and be completed rapidly & on time without any problem finding the money for it.

All this nonsense hysteria about the share price dropping because of a lack of funding for the DFS is complete garbage - presumably engineered by silly little juvenile day traders. Similarly to the way they engineered this myth that George is an incompetent CEO on account of the project being delayed owing to the corruption & incompetence of the Zimbabwe Government.

Wolf

Answer is :
A - I don't have a clue why GR would say it cost $5 million unless he or someone else can be bothered to explain exactly why it would cost $5 million.

B - I don't actually know what the cost might be without some idea of the initial development project cost - all of which information is not readily available to me & presumably other shareholders.

But I rather thought that as $5 million DFS cost indicates a half billion dollar development cost, that seem did seem large. It might be helpful if GR provided some useful information. That, after all, is an intrinsic part of the good management of any company.

Why do you think the Definitive Feasibility Study would cost as much as $5 million. That would imply a project cost of $500 million or half a billion dollars. I would have thought a DFS would only cost no more than about $2 million & that is peanuts in terms of finding that amount of cash which would then lead to development and a vastly increased share price if the company was managed well.

George Roach himself could fund it if he couldn't raise the money from anywhere else. But there are numerous sources of funding just waiting to fall over themselves to lend to enable the development of such a hugely valuable mineral resource; and to lend again after the DFS the even bigger sums needed to build the mine to dig the stuff up & sell it for what will be huge profits.

It's a no-brainer for any competent financier. See the link below about costs of Feasibility Studies.

https://www.google.com/search?client=safari&rls=en&q=how+much+does+a+mining+feasability+study+cost&ie=UTF-8&oe=UTF-8

Steward1Your posts are worthless rubbish. I won't be bothering with you as the appropriate way of dealing with congenital idiots is to ignore them completely.

Steward1 -

You are demonstrating a total ignorance of Africa, Africans & how to run any business intelligently by blaming George Roach for halting production at the RHA mine and for not pouring money into developing Zulu ages ago. No sensible person would continue to pour money into developing business activities in a country with a corrupt, thieving Government clearly demonstrating their intentions to rip off any foreign investors trying to develop mines in Zimbabwe.

They stole 51% of every foreign owned business just for starters, then demonstrated their breathtaking corruption by announcing the granting of the Zulu EPO licence needed by Prem to develop that asset but then refusing to actually issue it - thus completely paralysing the PREM business. The refusal to issue the EPO looked like they were waiting for a bribe in a brown envelope from PREM - disgusting & blatant corruption !

No business in it's right mind would continue to attempt to function in such a Mickey Mouse country; so George Roach was absolutely correct to put everything on 'hold' in Zimbabwe until the Government there was able to demonstrate they would behave themselves a bit more.

to Wolf
"Snowking are you seriously suggesting GR could retain 100% of ZULU at DFS and fund 60/70 million to develop the mine?"

Why not ? It's precisely what any intelligent person would seek to achieve as being the best option if at all possible. Why give anything away when you don't have to ?

On Death Of Prince Phillip ? I appreciate it's a seismic National event, but what immediate relevance to the stock market is it ?

And on the this subject of being affected by the death of those around us I would like to point out, curiously, that I discovered at some point on the death of a member of my own family, that of course I was upset and was in that process of mourning, when it occurred to me that mourning is actually about feeling sorry for ourselves, rather than the the person who has died. It came across to me as quite a shock to realise that !

I feel that same sense of feeling sorry for myself now as I do when any icon/family member/public figure that has been part of my life from childhood and through many decades since dies. It's all about mourning my own lost past really.

page two/..............

The stakes are far bigger than bothering about £260 odd million-ish worth of shares. So, the bottom line is I think private investors here will do very well with anything from a ludicrously low £1 (just not worth it) per share (and that was before the Rosgeo deal) to maybe £5.60 per share now we have the JV deal with Rosgeo adding huge extra value value to EUA; or anything in-between”
!

But, possibly more !

One of the reasons I think the buyout is taking longer than expected is because it was always going to be dependent on the JV deal with Rosgeo which is part of the reason Dimitry was needed to concentrate on managing takeover issues - because they were so time-consumingly complicated. We all just had to wait until that deal was completed.

Rosgeo was Government owned & therefore slow witted and did everything at a snail's pace as all Governments do around the whole World. This meant delay.

There are various 'complications' in this ( I think) which caused delay. This is persistently flagged up by everyone, including in various RNS's. My thoughts on what the 'complications' are I will keep to myself for strategic reasons.

But now that the Rosgeo JV deal is completed, it may be that the final RNS can be delivered soon with whatever final deal concerning the takeover is announced.

Clearly, the Rosgeo deal added huge value to Eurasia, possibly doubling (or more) the original value of EUA. It was all money for nothing for Eua. Rosgeo said here is 104 million ounces of PGM's which you can dig up yourself. All you have to do is produce the money to develop the nine mines & pay a few fees starting with the half million to show you really mean business.

Then the further usual auction fees to the Government for mining rights etc, all of which are usually paid by any miner anywhere for 'permission to mine' licenses. These fees did not really amount to much in the grand scheme of things. And then the last thing is you have to forego 25% of your profits from the stuff you dig up & sell , to Rosgeo because the deal is that we retain 25% of the shares; bad luck !

Anyone saying 'I own loads of assets worth a fortune' but 'can't be bothered to organise digging the stuff up myself' so you do it all for me at your expense (and keep 75% of profits) is simply giving something away for nothing. If Rosgeo offered me ( a penniless peasant with absolutely no money of my own whatever) that deal, I would take it like a shot thinking I could get all the money I need from lenders (like those insatiably greedy banks) to find the maybe three billion dollars needed to develop the nine mines.

It's money for old rope for EUA. And they know they have the money from the ‘takeover/buyout’.

There may be very good political reasons for all this but I will not discuss them here as I am merely concentrating on 'PI shareholder value' & basically 'what's in it for me' - which is (hopefully ) "Loadsamoney ".

So, at this stage, things look good for all those private investors. They hold only about 30% of the shares which is virtually completely irrelevant to the big prime movers here & their complicated political issues. So they are unlikely to be 'rogered' as some have suggested.

more on page two/..........

balancedviewer

I can't quite understand what the 8% override actually means. Or, maybe I DO understand that it is 8% of all revenue for ever - which is how it reads. But that seems a very, very steep price & a very, very expensive loan. Surely that can't be right; is it ?

from page one/……

He knows how they think and how to play by their rules and their culture & did the one thing that was most likely to get the result PREM shareholders needed. And we finally have that good result and are now able to develop our assets to profitability for the benefit of Zimbabwe as well as PREM shareholders.

All those ignorant Prats de-ramping & rubbishing George for being incompetent haven’t a clue just how competent he has, in fact, been.

That is why they are just idiots and long term holders here should not perceive George as being incompetent, but actually the precise reverse. None of those de-ramping idiots have a clue how to go about dealing with the difficulties the Zim Government produced. But George has done it just perfectly.

And if he now competently progresses the Definitive Feasibility Study & further financing to production, the PREM shares will multi-bag many, many times.

ends

****************

I'm reposting this which was posted late last night to remind today's readers how these poisonous de-rampers post lies & pure rubbish deliberately designed to push the share price down. they are the sole reason for the large share price drop yesterday & today.

Numerous de-ramping posters have written endless abusive posts here about CEO George Roach being incompetent because he has raised a large amount of money he has mis-spent, leaving shareholders with endless losses & nothing else worthwhile.

The reality is George Roach has raised a large chunk of money (I don’t know the total, perhaps someone would be kind enough to find out & tell me & other shareholders ?) and Premier invested this money in various assets which it now owns.

A shareholding in Circum, MNH mine in Namibia, Katete, RHA mine , & some gold prospecting interest in Mozambique spring to mind. Oh, I forgot. And Zulu, believed by some to possibly become the biggest deposit of lithium in the World, producing a gigantic share price increase for PREM shareholders when brought into production.

The only reason given for abusing George as being incompetent is he has first of all concentrated on developing RHA & Zulu initially and both these projects have been delayed by a corrupt Zimbabwe government. George has had absolutely no control whatever over the bad behaviour of this corrupt government. They were the sole reason for all the delay.

In any country with a normal, functional government 51% of RHA would not have been stolen by a government which then proceeded to prevent RHA being developed to maximise production & produce the revenue to help progress the Zulu lithium deposits.

Equally, George was entirely paralysed by the Zimbabwe Government failing to issue the Exclusive Prospecting Order (EPO) for Zulu even after the Minister for Mines announced to local press about a year & a Half ago that it had actually been granted but still awaited the final signature before being issued to PREM.

Anyone who who knows Africa and the mind of the indigenous African, will know George has done exactly the right thing in using every last ounce of diplomacy, patience & politeness to produce exactly the right result in making the Africans eventually realise they were damaging themselves by being offensively aggressive to foreign investment which they so desperately need.

Sure, this has caused delay; but it’s a process everyone familiar with Africa and Africans will readily understand. Everyone in Africa comes across precisely this convoluted indigenous African way of thinking on a daily basis.

So, actually, George has been an incredibly competent CEO well able to deal with this problem and then get the right result - probably because Africa is his country too; where he was born & brought up, & where he had black indigenous Zulu friends to play with since he first learned to walk as a toddler living in Natal - aka Zulu-land. ………../more on page 2

steward1

RE: And Now For Some Reality - George is Actually Very, Very Competent

You write with some bizarre arrogance that appears to provide you with the delusion it is your right to ‘run’ this business and you are upset That George Roach is not doing what you say you would do which is…………..

’If Zulu is going to be so big - sell everything else and put the money in to the Zulu project (and watch the sp rocket).’

But George IS running the company - NOT you and that is his decision which may, or may not be better than your decision to sell ‘everything’ except Zulu.

On balance I’m inclined to think anyone who ‘sold everything’ except Zulu would be a moron.

I think this says all that is wacky about you really.

And all the other points are simply you mis-using facts to put mostly imaginary ‘spins’ on them. The sort of fairy tale rubbish the red top tabloids are full of.

I’ve been a journalist of one sort or another for many decades and been one of those ‘spin doctors’ who do exactly what you are doing here with virtually every post you make - take a tiny starting point of a bit of truth and spin it the negative way you want to de-ramp & bend the truth all the time. I know journalists have the skills to present the same fact in a million different ways - absolutely anyway they want to actually. Such is the skill languages provide for unscrupulous people like you to manipulate others. Goebbels was pretty good at what he did too.

Every single one of the points you make in your post directed at me at 22:58 hours is simply a lie, conjured out of your fevered brain, that you strive to make sound sufficiently believable in order to dupe shareholders with utter falsehoods.

If I was actually so inaccurate as you say, you would have no difficulty in explaining the problem was not caused the mind of the African but rather entirely by George Roach - who therefore must have wilfully gifted 51% of RHA to the Zim Government & equally wilfully contrived ( with the full co-operation of the Zim Government) to deprive PREM being issued the EPO- even eighteen odd months after it was in fact actually granted.

I will be delighted to come to your house a for a few G&T's and debate with a few PREM shareholding de-ramping Eyores just why they are talking rubbish. I'll be too-ing & frow-ing to North Wales a bit soon as it happens if you happen to still be in that neck of the woods !

page 2

/.............. Sure, this has caused delay; but it’s a process everyone familiar with Africa and Africans will readily understand. Everyone in Africa comes across precisely this convoluted indigenous African way of thinking on a daily basis.

So, actually, George has been an incredibly competent CEO well able to deal with this problem and then get the right result - probably because Africa is his country too; where he was born & brought up, & where he had black indigenous Zulu friends to play with since he first learned to walk as a toddler living in Natal - aka Zulu-land.

He knows how they think and how to play by their rules and their culture & did the one thing that was most likely to get the result PREM shareholders needed. And we finally have that good result and are now able to develop our assets to profitability for the benefit of Zimbabwe as well as PREM shareholders.

All those ignorant Prats de-ramping & rubbishing George for being incompetent haven’t a clue just how competent he has, in fact, been.

That is why they are just idiots and long term holders here should not perceive George as being incompetent, but actually the precise reverse. None of those de-ramping idiots have a clue how to go about dealing with the difficulties the Zim Government produced. But George has done it just perfectly.

And if he now competently progresses the Definitive Feasibility Study & further financing to production, the PREM shares will multi-bag many, many times.