Member Info for myfirstmillion

Contrast that though moneymakers to what we got from EUZ. Toral isn't funded for the full PFS and even though we haven't raised a large amount of money via this disastrous raise we're changing course and looking to acquire another asset but we we don't know where, when or what resource.

I'm currently down 92.08%, I did advise against averaging down here as it only takes one disaster to blow all or a very large chunk of your account but I do feel for those that adopted that strategy here and have now had to sell at a considerable loss.

I don't have a great deal of hope for EUZ and my nature is naturally optimistic! Indeed in my head I've almost written this whole investment off tbh.

There are a couple of scenarios where all would not be lost so there is a glimmer of hope which is why I haven't cashed my chips in. I'd rather back the 100/1 outsider than cash in what would probably amount to about 6% of my original investment after the spread is taken into account.

CHRI5P I was shocked to read that you believed Toral was intended to be an open pit mine. You was very vocal when you arrived here about the opportunity and slammed a few of us that had legitimate long standing issues or grievances with the company. From memory I believe you also, like me and several others invested a decent lump sum so to hear now that you didn't know it was a below ground operation is very surprising. Your research should have flagged that up immediately as the costs between open pit and block cave mining are vastly different and definitely something that should be factored into one's calculations when doing proper due diligence.

Anyway Happy New Year to all here, let's hope that LR pulls off something miraculous and and this frog turns into a Prince. I'm focusing 95% of my efforts on my forex trading this year so my AIM investments will be very much a passive sideline. In other words I won't be posting regularly unless something exciting happens!

Wasn't the second mention of a value event after we found out that the deal had fallen through? Pretty sure it was.

Mojolse, I get where you're coming from and generally I try not to feed the trolls but misinformation has to be challenged or over time it can become 'accepted wisdom'.

I've encountered many posters over the years that say one person or a couple of posters can't influence a shareprice. I completely disagree.

One example I can give came from a share I was in many years ago. A poster purported to have gone to an event and spoke to one of the management team. He was incredibly convincing, and posted for months on end with incredible detail about a supposed event that would catapult the shareprice.

Many respected posters were taken in by this guy. Each and every time the expected event didn't materialise he always had a plausible reason. Eventually time ran out, the event didn't materialise and the poster disappeared.

Incredibly months later he came back with some limp excuse and even more incredibly some people still forgave him and believed he was just a victim too of false information from the management. Such was the belief he had installed on the bb they just couldn't bare to believe they had been lied to and fooled.

During this time, the shareprice kept going up, new investors were suckered in and everyone waited for the big pay day because it had become accepted wisdom and no one had challenged this guy. Even to this day some 15 years later I can remember his username!

Needless to say the shareprice just continued to drift down after the non event until they were bought out and taken private, which fortunately for me saved my bacon but many sold up early and lost small fortunes.

Seeing the impact that one smart and dedicated poster can have it's no surprise that teams of posters infest certain shares and obviously coordinate their efforts. Huge sums can be made with very little risk.

The likes of Quack-a-day and smiller I don't put into that bracket, their arguments appear amateurish and just plain biased. They appear to have a very obvious axe to grind with anything CB related but still when they occasionally do drop a 'fact' it is, I believe, worth correcting it if it is a blatant lie or misinformed opinion. Otherwise this 'fact' can get repeated and become accepted wisdom, to all genuine holders detriment. It can also put off the new casual investor dropping in to the forum.

Thanks Highside well if that is the case then it does indeed make a mockery of the current system. A system that appears to mimic many others in society in keeping those in power, in power and neglecting / ignoring / sidelining, those not in power. Perhaps a conversation for another day. Thanks.

Bahriaheights, Quack-a-day has a set agenda here so common sense arguments like that will fall on deaf ears.

If it isn't anti CB he's not interested.

Those with a more reasonable outlook would see the substantial skin in the game by CB, the newly announced JV, the huge collective assets across all sites and the likelihood of the Tier 1 Mankayan licence renewal and think that this company has a heck of a lot going for it.

Quack will ignore all of that and spout his usual diatribe.

Me too grappa. What I'd like to know is, is this rule of counting abstentions as effectively yes votes the same for all listed companies? Or is this a rule peculiar to EUZ?

If anyone knows for sure please post.

Haha some funny posts here! Think a few need to do a bit more research...

It sounds like you'll lose 'best offer' completely if you subscribe for L2 regardless of whether you actually use DMA to trade but worth checking with them I guess. Remember though that the idea of L2 is to get the best price in the first place. In effect you're creating your own market where you can place buy orders below the current best bids and sell orders above the best offers. So if you're diligent enough you should be able to always get your own 'best price' possibly better than that which IG could have got you, after all they probably keep a little bit of the spread for themselves.

Is it worth it for just a few trades per month, probably not but I don't know what size you're trading so you'd have to work that out as you go. L2 is really for day traders because of the frequency of their trading. If you can trade everyday inside the spread plus work out when a stock is about to make a move and in which direction it is obviously a very useful tool. My guess is (given the size of trades you've talked about in the past) that it's probably not worthwhile for you but then you do love your asx price action so maybe there's an entertainment value to be considered as well? Might be worth asking IG for a free trial? No harm in asking.

Donkey you sound like you're almost wetting yourself mate, unfortunately it was you that wasn't listening. CC did mention solar several times and the Hydrogen unit is still on track to be delivered H1 '22, tested on site with first revenue in '23. At the same time we'll be getting on with the transmission line, which also is anticipated to take a year. So come '23 we could have up to 4 sources of revenue coming onstream. Gas to power, Hydrogen, Solar, Carbon.
You can talk it down as much as ya like but those are the facts.

Also gloating over a falling shareprice (amidst a general market sellof I might add) of a share you purport to own makes you look like a ****** of the highest order, and no just in case you can't work that out it's not a compliment.

Yeah that sounds like the team were surprised that the assay results did not more closely resemble the xrf figures. They know from historical and geo phys what is likely there, why we didn't get that confirmation is obviously what they're looking into.

Not as some would have us believe that the xrf results were some fraudulent attempt to jack the shareprice. I'm sure once they figure out the correct place to drill the initial xrf, previous drilling and geo phys results will be fully vindicated.

Ok let's see if something ut I won't be holding my breath. Every week and month that an acquisition isn't announced is another week or month we've burnt through working cash flow... let's see how this pans out.

I agree grappa, on the one hand they're saying we can't afford to finish the PFS but at the same time they've raised money for an acquisition. In what world does that make the slightest bit of sense?!

If you have one asset and know that getting the PFS makes it that much more likely to be partnered or sold AND makes it much more valuable why would you then use what precious funds you've raised to pursue buying another asset?

I feel like I'm in some sort of parallel universe here with the posts I'm reading from some. Those wearing the rose tinted specs can you answer that question? How does it make the slightest bit of sense?

If you answer 'ah well perhaps there's another deal being negotiated' well that could make some sort of sense BUT we've already had one deal fall through apparently so who's to say that another deal (if such a thing exists) won't fall through?

And related to this point is the mention once again of a 'value event' in the last RNS which must have been after the deal fell through. You can't just leave that there unless there is another deal being negotiated but again, it would be complete folly and madness to purchase another asset until ink has dried on a deal.

As with everything EUZ any communication from the company is so vague as to just throw up a dozen more questions.

I can see no justification at all for buying another asset unless and until we have a black and white RNS stating that Toral has landed some kind of deal.

Many companies have been marked down this week not just Colin Bird ones although I did hear that rumour too. Most likely the markets were marked down wholesale because of the new covid variant appearing. If it turns out to be highly transmission but mild the markets will fly back up because a mild variant that becomes the dominant strain is obviously a huge positive for every country.

Thanks to cjen and numpty pi even though cjen chose not to acknowledge my questions or ask them.

No confidence in this BOD at all. We might stumble over the line eventually but it will be despite this BOD rather than because of them.

A supposed deal that fell through and we have no idea who it was with. ARS had a deal that fell through earlier this year but they told the market who it was with, so it is allowed and done by many companies. Announcing that a deal was possible could have seen a far higher share price for a raise. Why did they not announce this earlier in the year and raise off the back of it? Yes we'd have been hammered after the deal fell through but we'd have raised at a much higher shareprice with much less dilution. The shareprice has been hammered anyway!

Could it be that they didn't announce the company involved because there was no company or no deal? If there was a deal then they really missed a massive trick to avoid diluting us to the degree we have been.

Then there's the current funding issue. Money left for 12 months they say, presumably IF we don't acquire another asset. If we do then 12 months is fanciful and acquisition is their stated intention.

No mention of Adam Habib or what his remuneration was. No more detail around said potential acquisition and worst of all the PFS is NOT fully funded. We all remember the rns what was it now? 18 months ago? Where they said we were funded for all the major parts of it, which immediately set alarm bells off for me and I posted a comment about it immediately on here. 18 months later and another shambolic dilution and we're still not fully funded to complete it!

This management are inept. I can't believe only 20% of shareholders voted. Shame on the 80% that didn't. You'll get exactly what you deserve over the next 12 months if we're around that long!

Might be of interest to you Brad;

https://www.dailyrecord.co.uk/news/health/alzheimers-cure-breakthrough-jab-could-25460614

This is the point the detractors have missed prickly. CB hasn't assembled all these projects just to move from one to another and neglect them, a common misconception I believe. If people listened carefully and read between the lines CB is certain of a huge commodities bull run and a surging copper price. He believes that this will be the era of the smaller mine as larger mines will take too long to bring to production. Copper will be more in demand than any other metal worldwide to build the greener future. So what has he done, assembled as many Copper projects and other vital resource projects as he can on the cheap, and waited. Now he's starting to make moves as in ourJV. He knows even if we don't develop or do minimal development on some of the other projects, they will be in huge demand over the next few years.

In the 14 words of your last paragraph 02B@C I think you've answered your own question.

Well you don't need to stop posting Shed would be a bit of an over-reaction. Every board needs some balance. I get and understand your points about Toral and in a broad sense I agree there's still a chance Toral can do the business for us.

BUT the questions I asked about this new strategic direction and about how long the money will last are directly related to that. I'm worried that we just won't have enough money to go round to get the PFS even finished! If we do then we still won't have long to get a sale or JV before the money runs out. This is the problem as I see it, so unless LR can come up with a real, solid and plausible strategy to get that achieved alongside this new strategic direction I think we could be sunk because I can't see another fund raise being stomached by retail investors and probably not by Instituronal investors.

I'm too long in the tooth and too long in EUZ to live on hope and luck. We need a solid, credible plan coherently laid out about how and when we will achieve the PFS for Toral. We need much clearer guidance about exactly what it is we're looking to buy, if it isn't producing then it needs proving up (more cost) if it is producing then it will be more expensive up front. We need some confidence and assurance that all of this can be achieved realistically with the money raised and that we won't run out of money again in 3-6 months. I can't see it personally and that's why I voted the way I did. I hope I'm wrong.

Shed I don't understand your optimism. In light of the latest placing and the new strategy it just doesn't make any sense to me unless you have so much invested that believing that it could fail is just to awful to even contemplate, so self delusion is your only option?

Can you answer the following questions?

1) What metal or metals are we looking to buy? LR couldn't make his mind up.
2) What country or even continent are we looking to buy in? Again LR couldn't make his mind up.
3) How much is this asset going to cost? I'll give you a clue with this one, NO ONE KNOWS! If you don't know what or where you want to buy you haven't done any due diligence, if you haven't done any due diligence then you can have no clue what you're going to be spending on said asset.
4) From experience with other companies, if you want to make sure of not buying a lemon some amount of due diligence must be done. With current cash burn rates how can we afford time to do the proper groundwork needed to ensure the asset and deal is sound?
5) After factoring in another drill programme, more assays, updating our jorc AND buying another asset and needing cash for general working expenses, can you seriously see the relatively small amount of cash we raised lasing us longer than about 3 months?
6) Are we now fully funded to complete ALL aspects of the PFS?
7) What was Adam Habib paid for failure?

If you can't answer these questions Shed then I really think you're in the right share because LR can't answer them either! To me it seems ludicrous but obviously not to you...

Good little interview. CB on top of his game having this facility in place just in case it's needed. Very prudent.