Mac - agree its an interesting and (at least for me) unexpected development! How do you think they are going to spend the extra money? As its open pit areas which have previously been mined, doesn't seem to be much infrastructure needing to be built?
Eurasia certainly likes to keep us all guessing! It's like a soap opera with all these twists and turns!
Mikey - I understand that, and I don't have issue with a placement if it's evident that it's required. But the previous round of funding is still sat in the account. I'd just like to know how the money would be spent and why it seems they need more than $20m for this.
Christian wrote "...as we continue to develop the Company including the upcoming acquisitions of Nyud, Moroshkovoe and other significant Rosgeo JV PGM and battery metals open pit deposits." Perhaps the money will be used for some part of the acquisition?
"the Directors are confident that the Private Placement will further strengthen Eurasia's negotiating position" Negotiating the payment terms of the JV? I thought it was mine-in payment, whereby 25% of the value mined is returned back to Rosgeo.
On the one hand it's great that II's are investing at this level, it hopefully should further underpin this price as the bottom. On the other, I thought we are in the closing stages of a multi billion dollar asset sale. Why would the shareholders (BOD) dilute themselves for cash that, at this moment, doesn't appear to be needed. They still have all the funds from the last ii investment.
Hopefully we can get a further RNS soon with the work they are going to do on the JV - or just a general company update about how they are going to take things forward. It would be nice if they threw some figures out - we are going to spend $XXm on proving up this, we are going to spend $Xm on purchasing this etc.
Fingers crossed for some more information to be released soon.
A special dividend subject to an offer becoming unconditional in all respects (UIAR) will be marked ex dividend 2 business days following announcement of the offer becoming UIAR, if the announcement is made before 8.00 am, or 3 business days, if announced after 8.00 am. The date the offer is announced as UIAR will normally be the record date.
I don't doubt that someone knew something, but I think the timing is all very clever. We bounced off support, filled a gap and now this RNS is further momentum. Excellent from the BOD really. We have so much momentum now.