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Worth reading the recent Optiva broker note for detailed analysis of the assets. It valued EUA at 5.3p on an unrisked basis.

yeah, much lower than I expected

It was me who said that and I stand by it.
We won't see a holding RNS from YA as it hasn't had a notifiable interest in shares since 30 August.
In the past YA has informed the market of it's shareholding in EUA so I'm not sure why you think it wouldn't do so now.

I took another £2k today. I think there's a good chance of a substantial bonce from the current level.
I think there's enough news in the pipeline to drive the sp back up to a more sensible level.

Very happy with today's RNS.
Great to have further confirmation that funding is in place and shareholders won't be diluted.

BFS is due in March 2019

It normally have to have a disclaimer if it's paid for by the company so perhaps it's independent.
I've only had time to have a quick look. The analysts use a very low probability of success for each product so the valuation looks very conservative.

Is this independent research, i.e not paid for by Scancell?

Exactly, that's why the Echo has said EMS 1001 light oil 'discovery' is potentially transformational for the company.

Very interesting reading the drilling results of Crown Point Energy that like Echo are also active in the Austral Basin.
Two wells that it has very recently drilled in the Tobifera formation are currently producing around 2000 BOPD each. So at $60 Brent that's annual revenue of around $44 million per well.

When these Tobifera wells come in they are very big producers. Can't wait to see the results of fracking the EMS 1001 - it's looking like it will be a real gusher!

Dire results and another profit warning.
Outlook looks terrible for the current financial year.
Another Bargepole stock.

There should be plenty of newsflow in the coming weeks.
The signing of the permit should lead to other announcements like offtake agreements, the appointment of a mine operator.
Also should get an update on West Kytlim and possibly other projects - gold tailings & uranium mine

The latest presentation states 165kg (5,300) ounces were produced in 2018 so that's about 17% higher than the 141.5kg that was stated in an RNS in September, and 65% higher than the 100kg that was targeted.

Next year should be more than double that as production will be expanded to two washplants and the ore at Kluchiki is higher grade than the area being utilised in 2018.

The Sinosteel agreement has been executed and is a legally binding contract. There is absolutely no suggestion that Sinosteel would back out. And why would it want to - have you checked the price of Palladium recently?

Optiva placed those YA shares in September. That's why YA didn't have to issue a TR-1 as the shares were sold before they were settled into YA's account

You forgot to read the rest of the RNS. The shares were all placed by Optiva.

"The Company was also notified that YA has agreed to place the Conversion shares through Optiva Securities Limited ("Optiva") to Optiva's clients. The Company also wishes to announce that Optiva has now been appointed as a joint broker to the Company.



Christian Schaffalitzky, Executive Chairman commented; "This transaction completes the agreement with and the Company's obligations to YA, who do not hold any further warrants or options. The Company is now debt free and having foregone repayment is in a stronger position financially.



Eurasia is pleased to start working with Optiva in realising the Company's long-term growth potential and business goals. Optiva's estimation of the Company's growth potential is well demonstrated with this transaction. We look forward to updating the market on our progress at the operational level, including ongoing production at our West Kytlim platinum and gold mine very shortly."

YA were out a while ago. It converted its loan into shares then sold all the shares and warrants.

I see a steady re-rate over the coming weeks. I think the confirmation of Monchetundra offtake agreements with Glencore, Sinosteel etc. will create a lot of interest.

Now the permit has been signed off, this is expected to unlock lots of further newsflow.

1. Off take agreements:
From a previous RNS: "Off-take agreement negotiations are progressing with Glencore (the third largest international commodity trader and resource project investor), Sinosteel (China's state owned EPC contractor and a major mining investor and commodities importer into China) and other major players that cannot be disclosed at this stage, for the entirety of the life of mine output. It is hoped an agreement will be reached with one of these parties in the near future and this agreement will integrate with Eurasia's already agreed, and signed, Engineering, Procurement, Construction and Financing ("EPCF") contract with Sinosteel which includes financing of $150 million as a 10 year facility at 6m LIBOR plus 3.5 per cent."

2. Draw down of the debt funding contract with Sinosteel

From the 28 September RNS: "An EPCF contract to develop the mine at Monchetundra is already in place with Sinosteel, a state owned Chinese engineering group focused on mining, which was signed in October 2016 (see announcement dated 10 October 2016). The contract provides for Sinosteel to undertake the mine and processing plant construction and commissioning on a turnkey, commercial arms-length basis. 85 per cent (or US$149,600,000) of the contract value has been arranged as debt-based by Sinosteel - this element of plant construction costs will remain on the Sinosteel balance sheet until such time as the plant is operating at full capacity and to designed specification.

The EPCF also includes a sub contract to be awarded to Eurasia's subsidiary Terskaya Mining Company, to cover initial development work at the Loipishnune open pit. This sub-contract, in the amount of US$50m can be drawn down on award of the mining permit."

Yesterday’s news was truly transformational for the company.

Here’s some rough calculations that show how valuable the two main projects are to Eurasia. There is also the potential for further upside as EUA has a significant stake in a large Uranium project and the Semonovsky tailings project.

The directors have previously intimated that they have a deal lined up with a mine operator company whereby the owner of the Monchetundra project will retain 45% of revenue (as profit) without any costs. So with the 130,000 ounces per annum expected, production this will equate to $58.5 million profit per year – assuming a conservative palladium basket price of $1000/oz. EUA as 80% owner will retain $46.8 million profit per annum.

West Kytlim is also very valuable with production expected to ramp up to 745kg of platinum per annum. At the current platinum spot price of $29450/kg Eurasia Mining’s share of profit would be $5.22million per year (the owner of the project takes 35% of revenue as profit and EUA owns 68% of the project).