Member Info for pwlx

@cryptochump - good questions. Taking them one by one:

Looks like at least £1m worth was sold by the end of 2023. Impossible to say beyond that as accounts only cover to end of last calendar year. The point is if they’ve sold £1m worth, they can sell the rest. I should point out the line in the accounts that shows this is ‘the sale of products, goods, works, and services’ so they could’ve sold something that isn’t metal, but the most logical explanation is some of the PGM stockpile.

Mining at WK can generate significant revenue, millions of pounds per year. Exploration in Russia is cheap. That revenue could keep WK running nicely and upgrade reserves at MT too.

If they have sold some PT, then it stands to reason that the difficulty in selling PT has now been overcome and while selling the 2022 stockpile has taken an age, this should mean selling future mine product in the current environment should be easier. Appreciate this is an assumption.

As I said though, right now this is just about getting the matter on the agenda for the AGM, it isn’t about voting yes or no to it. Once we see the annual report the company will address the resolution and (presumably) explain why they think we shouldn’t vote for it. At that point we’ll be able to decide with all the information the company are prepared or able to give us, whether to support it or not.

Yes I am suggesting that Offler. The accounts for KK are publicly available, you can see how much money they have for yourself, and compare that with how much they had last year. This tells you enough.

In any case, the beauty of the resolution is it’s left open to the company to decide what ‘continued development’ entails. I would obviously never ask them to spend money they don’t have.

@Amers - thanks for your support - at present this is just an effort to get the resolution included in the AGM vote, so you’ll need to email the company in order to add your support for that. When the AGM comes around we’d then have the chance to actually vote on the resolution.

Alternatively, if the company were to proceed with mining at West Nittis and Loipishnune, the EPCF agreement covers expenditure through to production.

Having looked at the KK accounts we believe the company has since sold some of the PGM stockpile from 2022. Satellite imagery shows the company clearly preparing to mine again at WK this year. Ongoing revenues from that will more than sustain additional exploration and resource expansion at Monchetundra.

To whom it may concern

As a Shareholder in Eurasia Mining holding TWO HUNDRED THOUSAND shares through the broker HARGREAVES LANSDOWN, I am writing to notify you that I would like to exercise my right under the Companies Act 2006 to request a resolution be added to this year’s upcoming Annual General Meeting. The proposed resolution reads as follows:

“To commit the Company to continued development of its Monchetundra license area and end the current ‘care and maintenance’ approach, notwithstanding a binding or non-binding offer to purchase this asset having been announced to market within the next 6 months"

Although I do not own the 5% of the issued share capital to force this action as an individual member, I would like my shareholding to be added to the tally of other requisition requests for the same resolution, assuming these collectively reach the 5% threshold.

For a couple of months now, a small group of us have been preparing a resolution to be put to shareholders to vote on at the upcoming AGM to be held most likely in June or July. The resolution we would like to vote on is aimed at ending the current period of stagnation during which we are neither developing Monchetundra or making any tangible progress in the asset sale.

The resolution reads as follows:

“To commit the Company to continued development of its Monchetundra license area and end the current ‘care and maintenance’ approach, notwithstanding a binding or non-binding offer to purchase this asset having been announced to the market within the next 6 months.”

In order to add this resolution to be voted on at the AGM, investors holding a collective total of 144 million shares (representing 5% of the issued share capital of the Company) need to request this resolution be added to the meeting agenda.

If you support the idea of this resolution being put to shareholders for a vote, please copy and paste the email which will follow in the next message to info@eurasiamining.co.uk and copy in the Company’s solicitor (Simmons & Simmons) at the following email address: felix.zimmermann@simmons-simmons.com

There is no guarantee that we will generate the numbers required to succeed in adding this resolution to the agenda, but given the support we have received so far we believe it is possible. Some feedback we have had is that people would prefer to wait until the 8th May Kosvinsky Kamen EGM has been and gone before taking any action. This is understandable, but please bear in mind in order to add the resolution to the AGM it must be received by the Company at least 6 weeks prior to the date of the meeting, so if you support the idea of shareholders being able to vote on this proposal, you will need to send the email before 12th May. We believe there is no harm in sending the email now; if the KK AGM does yield anything tangible, there is still no harm in adding a resolution to the AGM to be voted on at the end of June or in July.

PLEASE NOTE that in the email there are two sections (those in bold and Caps Lock) which you will need to edit and personalise before hitting send, to add your total shareholding and the name of broker(s) through which you hold your shares.

We realise there is no way to copy the email from this group. It will also be posted in the EUA Daily Digest group, in the smaller Eurasia Mining chat group, and also on LSE for people to copy from. Alternatively just DM me and I’m happy to forward it on to you privately. The wording of the email will follow in the next message. The wording of the resolution must be exactly the same in each email for it to count towards the 5% threshold.

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

… is out - published on research tree

Certainly don’t think any of us would be surprised if it turned out JLR was the OEM we were the preferred European refiner for…

Absolutely - great news. Also good to see Zeus taking us on as a client. Both bode well for us getting mezzanine finance signed off in the next 3-6 weeks or so

Involving Queeld in anything would be a bad idea.

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,

No need whatsoever. Only if news was leaked beforehand and the market became disorderly as a result.

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.

Oh Theorist is back to spaff his wisdom everywhere it isn’t wanted! Been a while mate, remember when you were all up in this board telling us there was zero chance of feedstock in 2023 or 2024? How’d that go?

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.