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If it was a straightforward share purchase he would have just bought in the open market

Smacks of desperation to me.
Either the company desparately needed £30k for something or it is a cheap tactic to try and push the share price up. I don't think anyone will fall for it.

Hope we see a bit more volume today to try and get rid of the overhang

From the information given in RNSs I think the average daily production rate is running at around 1.5kg/day

If you want to calculate a realistic production figure I suggest you look at expected mine life against reserves to find the answer.

TDT - yes hopefully there is no tax to pay at the moment.
There are ofcourse some fixed costs to deduct from my figures. There are 7 EUA employees plus an onsite lab. A wild guess but I'd say around £200k per annum for fixed costs at WK.

I think the fact that we haven't had the well test results is a good sign. If gas wasn't flowing I think we would have already had the RNS so the wait is more likely to indicate a positive result. Seen this many times on AIM

I did some calculations recently on how much rack KG of platinum produced at WK was worth to EUA:
I reckon each KG of platinum produced is worth £2800 to EUA.
I've allowed for the following parameters.
65% contractor fee
EUA own 68% of WK
Raw platinum produced contains around 65% pure platinum
Refining cost 2.75% paid by EUA
Platinum is sold at 7% discount to spot price
Current spot price around $26700 per KG
Exchange rate GBP USD 1.31

So if current production is around 100 KG then EUA has made about £280,000 so far this mining season (100KG raw platinum).
Have I missed anything - I thought perhaps there are some Russian state taxes to deduct but I'm not sure what % to deduct?

I hope Sanderson can offload it's shares quickly as it's not long now before YA can start converting it's loan notes again - 10 September - at lower of 0.6p or 90% of vwap.

I think it's clear that Sanderson is selling its shares. It wouldn't have converted the loan unless it wanted to sell. Some of the selling could be warrant holders as there are quite a few warrants out there.
I wonder how long it will take to clear the overhang? Hopefully the so will recover once Sanderson are gone.

I think expansion of WK has been undercapitalised. The original contractor was supposed to invest $1million to develop WK which clearly didn't happen. I don't think there is a similar agreement with the new contractor so this might lead to a slower development of WK.

https://www.investegate.co.uk/eurasia-mining-plc--eua-/rns/west-kytlim-update/201702061222381308W/

The weak Rial will benefit WSG as some of its operating cost will be denominated in the local currency. WSG's fee is included in the cost of a flight and will be fixed in Euros no matter what currency the flight is priced.

Fiona said yesterday we'd have the test results of the first two wells by the end of this month. That's not long at all to wait. Relax and enjoy the sunshine 😎

Fiona didn't say it will take 6 months to get a well into production. here is what she actually said:

Question: What is the expected lag between positive results and moving into production lets say on the current test assuming its successful

Answer from Fiona: Pretty short (short in my mind is less than 6 months)

The completion rig won't be on site the whole time so can move on to the next rig in less than 3-4 weeks. The extended test is done by a different rig. Also it's possible Echo could release an RNS after the well is completed with initial test results and then a second RNS after an extended test.

The company is clearly well funded.
Net revenue receipts circa $10 million this year (not including potential revenue from new wells)
Today it was confirmed that drilling costs of wells came in lower than expected
Fiona said "We have no plans to raise equity in the next 6-12 months" and infrastructure costs would be funded from existing cash resources (like running gas pipe for Fracc D)..
The new FD said he has expertise in raising non-equity funding which he intends to put to good use for Echo
So all in all it is looking very good on the finance front.

Very interesting interview with John Blamire yesterday. He was full of confidence and said the company is meeting expectations. If what he said is true then shareholders will be in for a pleasant surprise when results are announced on 14 August. If expectations are indeed met then I can see the share price responding very significantly.

BMD used to heavily promote NTOG on his blog a few years ago. He has now turned against the company. It's just sour grapes - he probably lost a decent chunk of money on the share.

NTOG is a completely different company now - cash flow positive, a cheap lending facility and very low production cost assets.

Matt likes to wait a while before releasing production figures so that production rates stabilise. Initial production figures can be misleading so it's good he does this. We had to wait quite a while for production figures from the twin well and the results were very good.

Tangier Malik owns Sanderson. He was the CEO of Beaufort Securities before it went bust. Apparently he is setting up an Indian takeaway business, also called Sanderson. He will probably use the proceeds from the EUA shares to fund the new business. That would explain why he has converted the EUA loan notes now.

Here we go 🚀 if the sp can break 5p then the shortest will really start feeling some heat. Short squeeze coming?