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Plenty of news due soon from JAN and Valore to look forward to. Valore have raised plenty of cash to develop Pedra Branca and I think the market is going to like it.

Exactly, I'm here for the duration as I think there is enormous value in the assets

I think we will be alright. Palladium projects are now the height of fashion on AIM!

It's interesting to compare the two different approaches used by directors of JAN and EUA to selling company assets

According to Eurasia, the banks are trying to find a buyer for Eurasia's assets. I don't think anyone is suggesting the banks want to buy the assets themselves.

My point is how would a mining professional value the assets. I think that's a fairly valid point ;-)
They may actually base their value on what has been found on the licence and how much confidence they have that it is actually there. It may be a little bit more sophisticated than most aim punters appreciate.

I missed some text when pasting so here is some more detail on Russian resource classification. Has anyone actually looked up what has been classified at Monchetundra?

Resource/Reserve Classification
The former Soviet system for classification of reserves and resources, developed in 1960 and revised in 1981, is still used today in Russia and other CIS republics. Essentially, it divides mineral concentrations into seven categories, in three major groups, based on the level of exploration performed: fully explored reserves or resources (A, B, C1), evaluated reserves or resources (C2) and prognostic resources (P1, P2, P3).

Reserves and resources that can be matched to the usual international categories are classified into five main classes designated by the symbols

A
B
C1
C2
P1
Capital letters are used to designate ores that are economic. Sometimes, the same group of letters are written in lower case when the mineralization is considered subeconomic. A simple classification into classified (A,B,C1,C2) “balansovye” (balance) = commercially exploitable reserves and unclassified “zabalansovye” (out-of-balance) = uneconomic resources is used. Synonyms of “balansovye” and “zabalansovye” which are often met, and used descriptively, are “konditsionniye” (conditioned) and “nekonditsionniye” (unconditioned).

Category A
Category A The reserves in place are known in detail. The boundaries of the deposit have been outlined by trenching, drilling, or underground workings. The quality and properties of the ore are known in sufficient detail to ensure the reliability of the projected exploitation.

Category B
Category B The reserves in place have been explored but are only known in fair detail. The boundaries of the deposit have been outlined by trenching, drilling, or underground workings. The quality and properties of the ore are known in sufficient detail to ensure the basic reliability of the projected exploitation.

Category C1
Category C1 The reserves in place have been estimated by a sparse grid of trenches, drill holes or underground workings. This category also includes reserves adjoining the boundaries of A and B reserves as well as reserves of very complex deposits in which the distribution cannot be determined even by a very dense grid. The quality and properties of the deposit are known tentatively by analyses and by analogy with known deposits of the same type. The general conditions for exploitation are known. The ore tonnage is derived from estimates of strike length, dip length and average thickness of the ore body. Allowance for barren blocks may be made statistically.

Category C2
Category C2 These reserves are based on an extremely loose exploration grid, with little data. The limits of the orebody are defined mainly by extrapolation within known geological structures, and from comparison with other similar deposits in the vicinity. The grade and mineral properties of the orebody are determined from core samples and

For those of you trying to do some proper research on Eurasia and trying to get an idea of the value of Monchetundra, I suggest you read this about the Russian system of classifying resources and then take a look at the figures that Eurasia have actually put out:
Category C1
Category C1 The reserves in place have been estimated by a sparse grid of trenches, drill holes or underground workings. This category also includes reserves adjoining the boundaries of A and B reserves as well as reserves of very complex deposits in which the distribution cannot be determined even by a very dense grid. The quality and properties of the deposit are known tentatively by analyses and by analogy with known deposits of the same type. The general conditions for exploitation are known. The ore tonnage is derived from estimates of strike length, dip length and average thickness of the ore body. Allowance for barren blocks may be made statistically.

Category C2
Category C2 These reserves are based on an extremely loose exploration grid, with little data. The limits of the orebody are defined mainly by extrapolation within known geological structures, and from comparison with other similar deposits in the vicinity. The grade and mineral properties of the orebody are determined from core samples and comparison with similar mineral deposits in the area. The reserves have been extrapolated from limited data, sometimes only a single hole. This category includes reserves that are adjoining A, B, and C1 reserves in the same deposit.

I repeat what I said earlier. The 15m oz that was mentioned in the RNS is a red herring. No mining company is going to base a valuation on that as no exploration has been done on the additional areas. Even the 1.9m oz has not been proved up properly which decreases the amount any interested party would be willing to pay.

We don't really know how much profit Monchetundra is expected to generate as Eurasia has never published a proper BFS. I have always thought it a bit strange that Eurasia hasn't released this information including a detailed NPV calculation

Agree TDT, from experience we know that any EUA RNS, or comment from CS, needs to be taken with a big pinch of salt (at the very least).

It feels like EUA have been backed into a corner and this has resulted in the company attempting to sell its assets. Monchetundra requires funding to progress the asset and the first payment from Sinosteel continues to prove elusive. The Chinese often mess companies around when it comes to handing over cash. I've seen this numerous times on AIM.
Production at West Kytlim continues to disappoint and the contractor has left under a cloud. EUA cannot afford to continue with loss making production and the additional expense that is required in proving up the resource for future production seasons.

Yes Snowman, it doesn't sound like Lesego are the type of outfit that are going to offer big bucks for Eurasia's assets and possibly an offer wasn't made or an offer was made that wasn't considered satisfactory by the EUA directors so they decided to call in the banks for help in selling the assets.

Also having read the RNS twice you would have noted: "Over the past few months Lesego Platinum performed due diligence of Eurasia's assets accompanied by several days of visits of Monchetundra mine and Eurasia's office in Ekaterinburg to study the West Kytlim mine."
This highlights the fact that a sale is going to take a considerable amount of time. Firstly the banks have to try and find an interested party and before an offer is made the party will have to do due diligence which will take at least a few months

The sort of questions you should be asking yourself are:
Why has Eurasia put its assets up for sale?
How likely is it that the asset will generate any interest from potential acquirers, what type of companies will be interested and how long will it take?
As to valuations you should do some research on similar asset sales and not based on sales of operating mines.

The 15m oz figure is a red herring. The company hasn't even done any proper exploration on the flanks area. No company that is interested in acquiring Monchetundra is going to use the 15m oz figure to value the asset. The valuation will be based on the 1.9m oz resource in the feasibility study

I just looked it up. There are 166,666,667 warrants at 0.6p. I wonder if some of those late reported trades were sales by warrant holders. If so we should get an RNS soon

Great day for all shareholders. Even TrickDickyTwo must have enjoyed it ??????

You have to have a bit of patience to let it properly re-rate over the next few trading days or weeks. Look what happened to Prem recently and EUA has much better assets. You'd have been gutted to sell Prem on the first day it started to move up

Most likely the MMs have orders from large buyers in the background trying to accumulate as many as possible before it multibags

Lesego are owned by a Chinese investment company. The Chinese company are obviously interested in taking a stake in EUA's projects. The Lesego CEO was previously CEO of Russia's largest gold miner for 5 years. It would be great to have him on the board, possibly as EUA'S new CEO.

The clear priority here is to get the first payment from Sinosteel, comprising $26.5m from the $50m subcontract.

UJO now has an excellent chance of multibagging - don't sell out too cheaply!