Member Info for oldspursfan

I get recollections of the people who used to register

'Famous celebrity name'.com

...from back in the day as means to get the celebs to buy it off them.

Christ knows why anyone would try that with spin offs of Eurasia Mining though. Waste of time and effort with this BoD.

Let's hope "strong confidence" on this timescale means more than "very hopeful"

Eurasia Mining Partners sounds like it's set up for under-appreciated BoD members to find some love. Certainly not getting much here lmao.

DR - extract from the Corporate Update of 7 Dec 23

"...West Kytlim

The mine and all of its machinery and infrastructure are being maintained in a sale ready state, with no production expected on site in 2024, as has been the case for all of 2023. The stockpile of inventory from the 2022 mine season is being held in secure storage off site. As previously notified, discussions regarding the sale of the 2022 concentrate remain ongoing."

No concentrate sold up to 7 Dec, but you say you have seen the accounts for the period ending 31 Dec (which auditors have not yet signed off), and "a lot" has been sold??

In the run up to the Christmas period in which they prevously could not even advance discussions about a company sale??

Really?

My view is it's gone up because it's gone down a hell of a lot. 1.5p is undervalued, there has always been potential for it to go up given a spark.

Problem is the sparks aren't being backed up by the BoD comms. I'm not convinced it's orchestrated p&d by anyone "in the know", but I've been around long enough to know that the BoD need to deliver something of substance to support any positive change in sentiment. For too long now it's not been backed up with tangible results.

CS has for years now dealt in hope, pipe dreams and potential. Now is the time to actually deliver, as he has burnt all the other bridges to keep this company ticking over, and he probably knows shareholders will not give him a license to place more with his mates to forward sell.

But with no regular income, no mining activity and all the eggs in the "sell anything" bucket, he's had a year, so it's up to him to prove the 350k plus salary he's been (weirdly imv) claiming has actually been worth it. PUSU applies as much to him and his board cohorts as it does any potential buyer.

StB if a formal offer for £x amount is submitted and it reaches the threshold for shareholder vote, then the Company doesn't need to suspend as all they have to do is set up a prospectus for us to look at, set a date for the extraordinary meeting and deadline for votes.

This should be sorted out easily.

The only need for a suspension is if there is a strong chance it would leak, but even so it should only be a "suspension pending announcement" then, what, a few hours or a day max to sort things out?

I'm expecting nothing more than "here's the accounts at last, and our attempt to polish the turd of no progress on our only strategy. Trading can now resume, as you were everyone."

If we get anything else it will be a (hopefully pleasant) surprise, but o find it best to set expectations low as that usually the level that is met.

By definition if the Company is insoluble it can't be dissolved...

They can if they actually have done paul.

They just can't restore trading now until the accounts are signed off, published and AGM called.

That's almost guaranteed Dace, unless it's extending the suspension the Annual Report will have the word "sale" in it.

Just with the word "potential" still before it.

Good luck everyone, hope CS can pull something out the hat at last.

It's like CS spent too long as Chairman, and because he ditched any strategy that involved operational progress he forgot he's also Chief Exec.

Thanks B1ll, fully expecting a last hour full of hyperbole and hyperventilation. Let's see what unfolds, at least I've tried to keep it grounded!

Reading the RNS (with the correct date) again, another thing that looks odd is that CS normally spins things as positively as he can, but instead chose to make it sound like the auditors are wholly responsible.

Like those pesky auditors have been asking questions so we can't make the 6 month deadline for signing off accounts for a year of near zero activity.

It's a joint effort getting through an audit. It's just as much CS and his inability to answer those questions sufficiently that has led to this situation. Not that CS acknowledges it of course. Odd behaviour from an Accountable Officer.

Seems we are reaching the point where a possible sale update during suspension has gone around and around so much people are talking about it as a near certainty.

For clarity, we will be suspending on Day 1 of accounts being overdue, in line with AIM Rules. This is reason enough to suspend until it is remedied, even it begs questions as to how the BoD let it get this far. That is all the Company has said, no mention of any other reason or likely conclusions in the near term.

Any talk of sale update or conclusion, whilst hideously overdue, is just that: talk.

It is just as likely, if not more so, for the BoD to publish the signed off accounts later in July, warble on about "progress continuing" with nothing tangible to point to, resume trading like nothing happened, and we all sing along like before.

Try and resist the usual "last chance to get in" guff later this afternoon, please, it's based on nothing more than hope, and could very well mislead anybody reading this board.

Going to have to remind us what the doomsayers were saying last suspension, Cat.

Suspension pending announcement, as I recall the general mood then was very positive and optimistic, at least before the BoD came up with their nothing to see here lads RNS.

Del - nothing happened??

We secured the services of Artem to significantly speed up the sale process!!

How can you forget that?

So if I have your post correct Stretch, rather than give any indication in the RNS that there may be a separate announcement on "other matters", and the upcoming suspension is also to prevent a disorderly market, the selfless BoD decide to go down the route of making themselves look incapable of satisfying the auditors enough to sign off the accounts on time.

Give a clear update on all matters, or just look incompetent. And the BoD chose Option 2. That is an interesting interpretation.

SJM the role of the auditors is to validate and agree the valuation of the company's assets as at 31 Dec 23, not 30 June 24.

With that in mind, and considering our stated strategies, what could the BoD have wanted to complete by tomorrow, that would affect the balance sheet for 31/12/23 and P&L for last year?

Anything afterwards affects the post period events, not the numbers for the year past. Not dismissing any notion that there may be something else happening, but how and why would it affect the audit for the period from 18 months ago, to 6 months ago?

Yes i am, and I've explained why I think it's an awful position to be in. You can't see this as a failure in fiduciary duty of Executive Officers Stej? That's fine, that's your business.

Appears WTF is unwilling to expand on his "very positive" stance, and the market has taken it negatively too.

All I want this BoD to do is sell something. Its the only driver if shareholder value they are doing in return for salaries. And in not achieving that for another year since the last AGM, CS has also taken his eye off this ball too.

Why is this "very positive"? Leave my holding alone, and answer that for WTF please

It's a crock because this BoD have repeatedly taken publication of accounts up to the wire. CS took on Chief Exec role alongside Chairman a year ago and has failed in his duty to publish within 6 months. This is a failure of the one thing he absolutely had to do.

The assets to be valued and audited have not materially changed. No cost of sales to speak of. One years further depreciation of equipment, nothing added. And they still cant get auditors happy enough to sign off in 6 fkn months?

That is most definitely not "very positive".

People trying to read between the lines now regarding Q&M and sale. There's nothing in the RNS to suggest this is happening, and I've looked for any words that can be taken to mean there's other things afoot.

So notwithstanding the BoD mined nothing last year, so the stockpile isn't massively different to what the same auditora valued and signed off for Dec22, why is this "very positive"?

Either you or wtf whi said it was "very positive imo" can answer, I'm not fussed either way