Member Info for RMR1969

Agree with the point re JN - I think that will prove to be an important reference point to look back on, he was appointed to that position for a specific reason.

In terms of Sinosteel, I would refer you back to the much mentioned DS interview on Proactive, the EPCF is discussed when DS is asked why they have not activated it as yet (Oct 2019), he states that there is currently no need as money is available but also, and perhaps most interestingly, because he says that different miners have different preferences with regards to who helps develop the mine - clearly keeping options very much open even 18 months ago.

Listen from 13.30 onwards and he goes through it - whilst there, listen to it all again, it makes for great listening especially when viewed in light of all we have learned since.......

https://www.proactiveinvestors.co.uk/companies/news/905934/eurasia-mining-s-dmitry-suschov-discusses--strategic-options--for-its-mining-assets-905934.html

Personally, and contrary to a number of people on here, I believe the BOD have actually been pretty good at updating us through the FSP process thus far. I previously posted the list of RNS's we have had and it is not inconsiderable when you consider what is happening here and the very tight NDAs in place, it is clearly a very complex situation involving multiple parties and jurisdictions and quite evidently due to the nature and importance of the PGM market now and in the future, there is most certainly a degree of both national and governmental involvement.

That all said, I think we are due an update any time now. As we know there is a requirement to ensure shareholders are updated regularly and it is my opinion that the BOD have been 'told' to update shareholders on a quarterly basis, this would make sense - the announcement was on July 1st, 3 months later on September 30th we received the Interim report which had a sort of update within it, 3 months later would have been January 1st, we received an update to the FSP on January 14th with comments regarding delays due to holidays and COVID, 3 months on from that brings us to the beginning of April.

I guess Easter may 'get in the way' a little but I would not be surprised to see an update of sorts before the end of next week.

All IMO of course, but seems logical to me.

Happy Easter to all.

Hi avfc111

Since he is no longer around, I don't think it is an issue to share just the summary since some has passed now, there were a number of points but the summary stated the following........

"Personally, I don't think MT will be sold, I don't think that was ever the plan. I believe a large (massive) entity will be formed Kola Mining Company, something like that, and Eurasia will have a powerful seat at a new mining company, the likes of which we have not seen before. The Russians will have a controlling interest, and that is only right, it will also help speed up associated bureaucratic processes as well as keeping everything within the framework of the law."

Remember this was in December 2020, and following the Friday RNS I thought it rather interesting, maybe he did know what was happening after all.........lol.

I added earlier at 30.8p, never thought that would be possible....

Disappointed with price action today but not really surprised, we have all seen it before in other stocks, the news was hugely positive IMO, hence I added, keeping them all come what may. I have long stated that I believe this will culminate in some form of JV agreement, maybe with a part sale, and I stick with that view, I think EUA will continue to exist in some form and there are several indicators which have suggested this, not least the appointment of JN to his new position.

IMO, the RNS was part 1, and I expect further RNS's in the days and weeks ahead putting more meat on the bone.

GLA

wrightorleft

Hope you are well, I just looked back at an email shared by Rowka back in December, he sent it to those who asked and shared an email address with him, remember?...at the time he did not want to share it on the BB as he feared it would be seen negatively at that point, however overall it was actually very positive?

Have you looked at it recently?

I ask, because I noticed you were on the address list so received it like me.

All the best

RMR1969

theonlywayis

That is very decent of you

Nice one and thank you, I feel sure we will hear something in due course, the TILS RNS earlier was interesting and am expecting some further news from them today else I am a little unsure what he will talk about........why do an interview after all this time if there is nothing to say / add......makes no sense.

GLA

Sbrace06 - wishing you all the best, hope your son feels better very soon, must have been worry.

RMR

DonBroco

Not quite, a few things to consider:

1. are you working in $ or £, I imagine any offer will be in $
2. How many shares are in issue actually, any offer usually states something like - "Issued and to be issued shares" - there are quite a few deferred shares and outstanding options, I am unclear which, how many, or if all of these would be included, that would take us to 3.032b shares
3. We only own 80% of MT and 68% of WK so that needs to be considered also
4. There will be some hefty legal and advisor fees to be paid

So in short, not quite as simple as you suggest albeit along the right lines - IMO, £1b equates to around 25-26p, £2b around 50-52p and £3b around 75-78p (oooohh, theres that number again....!)

Frankie74 - hello, yep, from Worcester originally but moved to Oakengates 16 years ago....just up the road from the station!

Another one for the Shropshire EUA meet up!

Sbrace06 - love Shrewsbury, prior to all this Covid malarky we very often got on the train at Oakengates and spent the day / evening there, my partner worked there too so we have many friends in the area. Great pubs and restaurants, I am just a few minutes walk from the station where I live and we have had a steam train go through each day this week, wonderful sight!

We will have to do a Shropshire meet up after all this, I am sure there are others out there too.....

dealer55

Everyone is free to do as they wish, if you don't like the current timeline then you are free to sell up and allow others to come in - exactly as you suggest.

Personally I think they have kept us updated:

July 1st - Announcement
July 9th - Restoration
August 10th - TIPIL Licence
August 18th - Institutional and General Update
August 25th - MT Flanks
September 18th - Board Changes
September 30th - Interim Report
October 12th - SP movement
December 2nd - 2.9 Announcement
December 3rd - WK update DFS
January 14th - Update on FSP
January 21st - WK DFS
January 28th - SP movement and update
March 15th WK update

All this whilst going through a complex FSP, hindered quite rightly by NDAs and not forgetting a worldwide pandemic.

I reckon they have done OK to be fair.

Davde - yea, investors were saying that with SKIN 2 years ago also...............we were the equivalent of around 20-24p then I seem to recall.

apologies, it wasn't last year I sold the house, it was the year before - and there was no worldwide pandemic then either, I reckon if there had been it would have added another couple of months easily............

Long9

You are of course free to think that way however I think you are wrong in suggesting that is the only interpretation of the time element.

Imagine the following scenarios, they could all create delays and extended time due to their complexities:

1. JV arrangement - how is this put together, who gets what, how are revenues shared, is there a payment upfront, who pays for what, who runs it, who are the BOD, are dividends paid, if so, how.....so many details to sort out.
2. 2 buyers sharing everything - see above and add a whole load more complexities
3. Consortium involving multiple players - see above and then add a load more complexities on top again

All the above would require multiple lawyers, and various other stakeholders having their say potentially across multiple legal, financial and political jurisdictions and languages - imagine trying to sort through that?

Add in the significant metal price increases which I have said before will undoubtedly have altered things, no way did anyone expect or foresee the changes to the market prices even last July (check out the predicted prices in the EUA presentation), they are way out. I know long term prices will be used etc etc - but this will have changed the dynamic and models will have been redone and redone again.

I do agree that if it were a simple sale for £1b then perhaps we could have expected news by now, but that has not happened, and I posted on here last year that for me, based on some of the things that had happened, some form of joint venture was more likely and I still think the same now.

In short, I just don';t think you can say it has taken 8/9 months therefore it ain't happening - took me 4 months to sell a 2 bed house in Telford last year, no issues, 2 very willing parties (1 buyer, 1 seller), no chain, no issues, just the most simple process you could imagine - 4 months to complete and I had agreed the sale and price with the buyer within the first week!

Silversun - I really think you are reading something into the phrase that is not there, there is no change in communication as far as I am concerned

If you go back through the RNS's it refers to 'strategic options' in the initial FSP announcement on July 1st 2020, it does so again on 30th September Interim Report, and then again on the 15th March WK update, it has been pretty consistent.

A full sale is obviously one strategic option, but there are clearly others which were perhaps covered by the 'other transaction structures' we had mention of. I just think that all considerations are on the table presently.

Not forgetting of course that a final strategic option may be to go alone, I don't think this is what the BOD necessarily want, but they are all strategic options, and currently all possibilities.

I just popped back on here to have quick look and it took me back a year or two.

The frustrations I read on here are a mirror image of those expressed when I was previously invested in SKIN, GB promising jam tomorrow with updates on Twitter and then releasing rather underwhelming RNS's.

Full disclosure - I had 1.2m shares in SKIN, average under 2p, converted to 120,000 in consolidation but I sold them through on the rises. I did buy back when it went under 30p and then sold above for 10-15%, this appears to be the cycle it is now in, which is exactly the same as it was in SKIN around the 2p mark, decent rise then drop, time and again. It frustrated me then as I could have increased holdings significantly had I gone with the obvious and clear pattern, so now I plan to do the same here again, in at under 30p, sell on 10-15% rise, it feels very predictable. I may miss the 'big rise' if it ever comes but so be it.

I don't think the SKIN chat is available anymore but I am sure there are a few on here who will know what I mean and remember the frustrations aired about GB, nothing appears to have changed in all that time.

He seems like a good bloke, and I genuinely wish him and the business well, the science is great but the management, PR and marketing leaves something to be desired I fear.

GLA

Silversun - whilst I agree that it would indeed to be great to get something tangible, I don't agree with you regarding the offers.

We do know that several non binding offers were made (at least 3 based on the exact wording in the RNS but it may be more), we also know that work is continuing to move from non binding to binding, now, why would this be happening 9 months into an FSP if that offer/s was not deemed acceptable by the BOD, do you not think that would be the point where they said, 'you know what guys, thanks for the offers, but you are way off the mark, have you not seen the PGM prices go through the roof recently?, reckon we will have to mine this little beauty ourselves....' or words to that effect?

What would be the reason for moving towards binding otherwise??

GLG - even better time for this to come home now.........would certainly like to top up over there at that price.

Very true Sbrace - she is very erratic and highly critical, dismissive and rude of the LSE BB and most people on here. I find her posts rather strange considering she states she is a solicitor, it really does not stack up at all, she does not behave in a way I would expect from such a professional.

Whether she is / was Kira I have no idea but I am not convinced of her motives with regards EUA.

Afternoon Dore123

The ones I was referring to are GGP, BOU, SYME, Tils / Accustem, Omi...........who knows, maybe get news on them all this week, that would make for fun and games, all due some form of update. Having said that I have been waiting for an update from BOU for about 2 years.....lol

EUA and GGP are the biggest though.

From time to time I see people on here and elsewhere mentioning March as a critical point due to the mining season and the suggestion that any buyer would want to be sorted before the start of the season, but I am not sure I agree with that view, I think any possible acquisition here is a far bigger consideration than just the next few months.

Any purchaser will know that that if they buy now, it is highly likely, and actually quite probable, that the metals will be worth at least 20% more, maybe even greater, and also the life of the mine licences are not inconsiderable, I certainly don't think there will be a rush by either party just because they might miss the start of a season.

Feels like I am waiting for news on all my key shares at the moment...........GLA