George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Hi lovelyboy, appreciate you sharing what you have on here but as somebody who’s spent quite a bit of money in the past on caseboard subscriptions and Russian VPN subscriptions to access certain docs and always shared them with people straight away, you’ve clearly seen the names so why not share them with us here? Clearly inefficient for us all to spend £36 each time when one who’s spent it already can share the wording
A few investors on Telegram have put together the following letter for anyone who feels they agree with the contents to copy and forward to the company. Appreciate this won't be everyone's cup of tea but if you agree with it I'd encourage you to copy and send. Posted below:
Urgent Action Required: Appointment of CEO and Activation of Sinosteel Agreement
Dear Eurasia Mining Board,
As concerned shareholders of Eurasia Mining, we are writing to express our growing frustration regarding the prolonged vacancy in the CEO position, and the lack of progress in securing a sale of the Company's assets in tandem with the stoppage of asset development.
Given that the company is currently without a CEO, we urge the Board to establish a clear deadline for filling this vacancy. Appointing an individual with responsibility over day to day operations would improve the Company’s ability to navigate critical decisions in conjunction with the heads of our various subsidiaries, while introducing a fresh set of eyes to the Company and its plans for the future.
We are also disappointed that a sale of the Company's assets was not finalised by the end of 2023 as suggested by Christian during the 2023 AGM. Accordingly, we demand transparency from the Board regarding the next steps. Specifically, we request that the Board sets a definitive deadline for reaching a sale agreement. Should this deadline not be met, we expect the Board to activate the Sinosteel agreement and proceed with mining the assets as outlined in the Company strategy. An asset sale may or may not be forthcoming, but the decision to continue development is fully within our control. Prospective buyers can make bids for assets at any stage, and our continued development of them need not hinder the sale process.
The Board must take decisive action to address these issues and restore shareholder confidence. Failure to do so risks further erosion of shareholder value and undermines the long-term sustainability of Eurasia Mining.
We appreciate your prompt attention to this matter and expect to receive a comprehensive plan of action from the board in response to our concerns.
As a group of Private Investors in contact with each other through Telegram, collectively we hold a significant percentage of the issued share capital of the Company and should the Board find themselves unwilling or unable to address these concerns, we are prepared to add resolutions to the AGM in order to discuss and vote on the above proposals.
Sincerely,
We absolutely do have two months left of Q1 and anybody who thinks otherwise needs to invest in a calendar!
And the cost for these projects isn’t ‘billions of pounds’ - it’s $300m for each of TVL and PHL, plus probably another $200-300m for TVG, so less than one billion pounds for all three, to be clear…
Bladey, can’t argue with anything you’ve said but there are understandable reasons the original deal that was slated for Q1/2 2023 didn’t happen and Paul has spoken about those on investor calls. Basically the OEM who was originally on board for that timeline decided to delay their European lithium strategy for internal reasons, so ALK had to pivot and look to other feedstock, thus the extended timeline.
Trader613, your post just seems to betray a lack of understanding to be honest. In order, we do have a feedstock agreement that is sufficient to allow financing to go ahead; the capex is not that high in the grand scheme of things and the payback period is 3 years; OEM’s can’t actually source their lithium from China if they want to take advantage of very favourable tax conditions in the west that promote the use of product made in the UK/EU/USA; the company hasn’t ‘shifted’ to graphite - the graphite strategy is additional to the lithium strategy; ALK has made significant progress over the last twelve months; the price of lithium is actually not that important to ALK as we’re going to profit off the margin on refining, not the price of lithium itself; and finally all the noises about Mezzanine finance in ‘early 2024’ are still very positive.
Ahh okay so you and your weird little personal vendetta against Paul Atherley thinks that the company is lying about the feedstock deal with Wogen 😂 Think of something more convincing and come back to us - ‘til then back in your lane.
Really can’t understand people talking like this, like it’s the end of the company or something ridiculous 🙄
The share price is not the company, and the company is only just getting started. Yes it’s unpleasant for holders to watch right now but absolutely absurd to read anything more into it than the market being irrational.
What a stupid time to raise. Very annoyed with that one:
a) Can't quite work out why they need the money - they can't possible have burned through the £2.2m CNL that quickly
b) Surely, as a company you want to dilute as little as possible so you get the trading update out first, showing strong growth, margin improvement, new clients, etc AND THEN you do a raise. Absolutely ridiculous.
MrYFronts, I assume, being extremely familiar with the company, you'll know that targeted production at WK is 64000oz/year. In 2022, the year you refer to, production without the electric dragline and other productivity upgrades was 7030oz. So yes that's worth £3.5m, but at full production that equals £30m revenue per year.
Call it £10m spend per year on costs and ongoing capex/upgrades/restoration (this is more than it would be in reality but I'm being conservative), and that could pay out a dividend of £20m per year.
This really isn’t the kind of statement that makes any sense, sorry. We all know this has dragged on for a long-ass time but the company is genuinely so watertight that it’s likely a sale, if and when it drops, will do so pretty much out of the blue. Under normal circumstances I’d say we should see a big uptick in buying prior but genuinely don’t believe that to be the case here. I may be proved wrong 🤷♂️
Personally think we’ve been set up at this level so that we can do a 100 - 200% rise on mezz finance news to get to the mezz finance value as our mcap ($20-30m). And from there start a progressive climb to £3-5 as the market finally begins to price in a little bit of the company’s potential.
Good to have an update, nothing groundbreaking but nice to see finance discussions progressing ‘excellently’. Looking forward to the update when mezz finance is signed.
Been wondering for a while now whether ALK’s graphite strategy has them in contact with Blencowe re their Orom Cross project. Not producing yet but has some great backing and this is exactly the kind of midstream processing I think they’d be looking for.
For now I want them to just focus on financing TVL train 1 but if they manage to pull off even a third of what they’re aiming for this has the potential to become an incredible company 👍
Simo - think you might need to read more into the company. Firstly the feedstock deal is from South America, and secondly the Australia plan, if and when it comes to fruition, would be far more economically and environmentally sensible than anything that happens today with Australian spodumene.