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I'm reluctant to give you any more airtime but...
"These businesses don't do loans at this stage" - nonsense, especially as the company has just announced that their revenue is bang on target from the WHI research note of £3.2m for 2022. I'm not saying they definitely won't place - I'm saying they don't necessarily need to as other options are available and this fear mongering that the company is going to run out of cash is rubbish. Either way, they remain on track to profitability in 2025. Until evidence appears that they're no longer on track to meet that target, securing finance should not be an issue. Yes market conditions for raising capital are bad right now but that's the case with every share across the board and the amount needed here is small, so you're right - I'm not worried.
UK sales - I suspect with their ultra premium strategy would go better than you think but as an investor I don't need the company to launch in the UK. I'd like it so I can try their products, but it's not necessary for their growth. The company knows - as per recent interviews - that the UK market is pretty saturated which is why their growth strategy has been based on APAC and US where things are a lot different. Trying to scare investors off by whinging about their prospects in the UK market isn't going to work. The company are very clear about where their main growth is coming from.
Once again, your comments seem unduly pessimistic, you aren't a shareholder currently, so what are you trying to do? Just being a good samaritan trying to save a bunch of people you don't know from themselves? Or do you have another agenda in mind?
NFTs I’m just going to direct you to the WH Ireland Research Note available to download on EISB’s website which has their financial projections for the company. I don’t know why you’re here giving it all this against the company when you’ve said you don’t own shares any more, but it reeks of an agenda.
All investors are abundantly aware of the company’s financial position and the fact that they’re going to need more cash to continue on to profitability in around 2025, and as has already been discussed multiple times on this board that financing does not have to come via a placing - and I for one would prefer debt to a placing at these levels, obviously, and given the relatively small amount of cash they’ll need over the next few years - let’s not forget they are bringing in revenue as well so the cash burn really isn’t that bad - that debt should be very easy to find and service.
You aren’t contributing anything new here that people don’t already know, so it just feels like you’re trying to spread fear and influence PI’s decision making, which really isn’t reputable.
Dattabase - the Nyud license covers four of the nine Rosgeo JV areas and that license as you mention is now held by the JV company, although Eurasia doesn’t appear to have exercised its option to claim the 75% stake in that JV company as yet. The others aren’t “due” as such - the JV states that Eurasia has the option to choose which, if any, JV assets to develop and Eurasia has stated that they’re going to “use Nyud as a template for the remaining projects” so I don’t expect any further license transfers in this regard for the time being.
2x chunky £27k buys today, somebody's optimistic... TMUPs due v. soon.....
Taylor Partners don’t want anything to do with EISB following their failed attempts to jimmy with the board. They’re selling down, at pace now, and they’ll be gone soon. By my reckoning they’ve gotten rid of at least 5m shares since the last TR1 so they’ll be down to 28m now, at this pace we give them another month or two and they’ll be out.
@CharlesRyder - I have to check my junk most mornings as half the time the stock exchange alerts go into my junk… :(
Great use of ChatGPT actually, nice one! I was trying to find more info on this the other day and not being able to search in Korean came up a bit of a blank…
I read your post thoroughly, and replied with three things they've TOLD us over the past year - tangible, value adding things.
There is a binding, notarised agreement with Rosgeo stating that we're entitled to 75% of Monchegorske LLC once Monchegorske holds that license. It now holds that license, we may not have taken our 75% ownership yet - but we're entitled to it, and for the time being that's more than good enough for me.
I would certainly like this to be concluded sooner rather than later - before the war gets any worse, but I'm firmly of the belief that there's nothing stopping us selling our assets and getting a dividend to the UK. My preferred option would be to sell everything we own by selling Urals Alluvial Platinum. A Chinese company for example, buying a Cypriot company, from a UK company, breaches no sanctions, touches no Russian banks, money, or shareholdings. Find a sanction that forbids that and I'll doff my cap to you.
Tygra - "nothing of tangible value" - what planet are you living on?
Nyud is a huge resource, that license contains four of the nine Rosgeo JV areas.
MT DFS - will increase the mining permit from 130k oz to god knows how much once it's approved.
WK significant expansion in dragline and electric power for the upcoming season, plus continued flanks exploration.
To name just three (fairly big) things they've done that add tangible value to the company. What you're complaining about is that value not being recognised in the share price. Yet.
I'm not sure how you can make a direct comparison here - and besides, miners think in terms of decades; future PGM demand is baked in to net zero plans irrespective of current pricing and as we all know, there's a finite amount of them. Of course there's going to be a Russia discount on the sale now compared to had the sale happened in late 2021, but sanctions don't matter to BRICS companies and that's who we're selling to. In any case, the value added since the start of the war including Nyud license, MT DFS, etc plus a bunch of stuff we probably don't even know about right now should mean that the Russia discount is offset by the new value added. No point being all down in the dumps about it - we are where we are and the Board are doing their best to get this sold.
The company are under no obligation to RNS the departure of a member of staff who isn’t on the Board. Let alone a member of staff who hasn’t held down a single job for more than 18 months since 2017… I’m sure the company are on it with regards to replacing him, as a shareholder I don’t need to hear about every step of that process - I’d rather they focussed on finding and appointing the right candidate.
Anybody attend the AGM yesterday? I’m sure probably not as it was in Jersey but if anyone did and had a little post AGM chat with anyone I’d be grateful to hear if they dropped any hints re TMUP progress!
m007j you’re absolutely correct. This isn’t the kind of company that needs to be putting out RNS’ every other week, just solid results in line with earnings predictions as published by WHI will do nicely. Been saying it for a long time this is a VERY long term hold for good returns, they won’t come straight away. Anyone who can’t hack that should be selling…
Stonk I’m absolutely certain that won’t be the case - EUA have happily still been referring to the Nyud license in their comms in full expectation that we still have the right to it. That notarised agreement will still be legally binding, just seeing that as a potential loophole to keep the license off EUA’s books for the time being - if they so choose, which it looks like they have done
LB - one small point on this re the notarised agreement; the agreement RNS stated that YGK would become 75% owner of Monchegorske when the Nyud license was transferred from Rosgeo to Monchegorske. The Nyud license, as it existed at the time, has lapsed and was not transferred - the one that’s been granted recently is a brand new license with a different license number, so maybe there’s some loophole been done there to allow EUA to not immediately claim that stake in Monchegorske. We’ll still be entitled to it, but the stake didn’t become ours immediately.