Member Info for RMR1969

Mac4671

I agree, I have long believed and suggested that the FSP in terms of inviting offers would have been time limited although we were not told what this was, but there had to have been a period set initially, my thoughts were 12 weeks as it appeared logical. I guess that could have been extended if requested by a third party of course. But then were told about the recent appointment of DLA Piper which could suggest the first stage is over. The interim report informing us about DLA Piper was 13 weeks after the announcement of the FSP formally starting and we were told that they had recently been appointed so maybe a week or so earlier which ties in with the 12 weeks of course.

So how long to do the legals, or at least enough of them to share any update, I really have no idea but again there would be a time limit set or at least worked towards, is 4 weeks too short?

That would take us neatly to the end of October with the 30th, a Friday, being just over 4 weeks from probable appointment.

It is just a view but news to date certainly lines up well with such a timeframe.

GLA

Thinking outside the box, maybe he is a celebrity gardener who likes playing the guitar?

https://www.telegraph.co.uk/men/thinking-man/monty-don-spends-saturday-potting-playing-fender-stratocaster/

EddieX - I have reviewed your short posting history and I can see that you have consistently stated that the market is suggesting a price at 50p, that is your view and I respect it, I also agree that often the market is ahead of the herd so to speak and I think largely you are correct. Your suggested price would value the business at around $2b if I am not mistaken taking into account exchange rate and just over 3b shares in issue (post options etc).

However, I think EUA is perhaps an 'odd' case, a bit of a one off, an anomaly, and perhaps therefore not likely to behave like most other shares. EUA presents a one off opportunity for a PGM major to own supply for the foreseeable future and perhaps secure their position amongst the PGM elite.

It is a bit of a perfect storm here with the PGM deficit, the price of metals, the world economy in the shape it is...........all these ingredients could conspire to create quite an effect.

The Sibayne Stillwater takeover in 2016 was $2.2b, palladium was a quarter of the price it is today, AISC costs were more than double what we have here and the demand for PGMs not as critical as it is today. EUA also offers any potential suitor the opportunity to expand the resources to huge levels based on the rules within Russia surrounding licence applications, into a potential PGM district no less.

Of course, as I said, I respect your view, if you have worked in stockbroking and the markets for as long as you say we should all listen to your thoughts, but can you not see that EUA may be a little bit special where 'normal' rule may not apply, and therefore the potential here is for something way in excess of the $2b you suggest, even just considering the fundamentals?

Best of luck Stonk and good to have you aboard, whether you see your £1.70 is debatable but it is nonetheless possible. However I am sure once this journey reaches it's end you will no doubt be closer to the retirement I am sure you deserve.

Bon Voyage!

GLG - fair point, I didn't even have the desire to check, such a lame and silly post. Any novice to see that it was not a speeding ticket, it may have had that effect for the moment because people have read it like that, but it was not.

When I first came to LSE many years ago I made the very silly mistake for a short while assuming those with the mosts posts were the most experienced and tended to look at their points more, learned that lesson pretty fast.......!

dealer55 - I am staggered that with more than 8000 posts and clearly having been on LSE a while you ask such a question.

was that like any speeding ticket you have ever seen before and you must have seen a few - it was anything but, "the BOD note the recent movement in SP" - it was meaningless and forced for sure, no mention that they knew no reason for it, that it was not justified, that they didn't understand it - just a pointer to the previous RNS stating the sale was progressing and indeed we have now appointed the biggest M&A legal firm in the world to support us. Some speeding ticket that is...........

Come on dealer55 that was a poor post indeed.

Mark1312 - quite right Mark and a point which has been mentioned a few times before but worth a reminder for us all.

If, and big if, they had simply omitted it in error the first time they could have corrected it, they haven’t.

We have now had 4 RNS where the ‘no guarantee of a sale’ disclaimer has been left out.

Think about that, working with the best minds and biggest firms in the world and you reckon this wasn’t a deliberate omission.......!

Do people reckon they simply messed up the last 4 RNS’s and just forgot to include it, on 4 separate occasions.....?

Nah, it is simply because a sale has been agreed.

Hoping for a good day as positive sentiment returns.

Fair point!

FTSEDOW - I think if you take into account the ownership %’s (80% MT and 68% WK) and also that shares in issue are more likely to be just over 3b due to options etc then $2b is more like 38p IMV.

Nevertheless it is still a lot!

Happy to be corrected.

Floppyjaloppy - very sensible post, 15 weeks since FSP announced and discussions were going on before that as we well know so if offers were not sensible then the whole process would have completed by now for sure.

It can only mean that someone has made an offer which the BOD are happy to agree or believe can be agreed.

Appointment of DLA Piper and DS to his ‘new’ role only support that view. Everything we have been officially told points to a completion in due course, we just don’t know when but I am very happy to wait.

As stated earlier the further we move away from the last RNS in terms of time the more likely we are to move north IMO.

Best of luck all.

Certainly feels like sentiment changing again today as we move further away from the latest RNS, many LTHs happy to buy in at this level (myself included) and new buyers attracted due to recent drop.

I would imagine it unlikely that the BOD would have a need to issue any further RNS's should the SP continue in a positive trajectory as they have addressed that point by simply acknowledging it and referring us to the FSP note (I remain convinced this was 'forced'), so IMO the next move north should continue strongly and uninterrupted. Assuming nothing happens beforehand I think the mid 40s are not too far away.

GLA

Seriously.....!!!!!????

Silversun - just catching up a little and saw an earlier post of yours.

I think you will find that the majority of LTHs here are quite realistic with their views, I have shared my view on possible price a couple of times - 60p-£1 FWIW, with a view it may be at the higher end of that ultimately, it is just an educated guess based on a lot of information. Like you I would rather be cautious.

There are of course a few who have talked of numbers much higher and to be fair it is possible to build a sensible case for some of those figures and it is worth considering them, but please be assured we are not all ramping this away wildly, just confident in our assessment that any offer would be north of our current position, it appears you agree.

Silversun - it's a view of course, however I would have thought that if what you say were true regarding the RNS being a 'message' to investors then the wording would have been quite different.

Just to remind you if required, the first sentence was:

"Eurasia Mining plc notes the recent significant rise in the Company's share price."

That was it, to be honest it is a bit silly really and was evidently 'forced' upon them, why else put out such a banal comment, it means absolutely nothing, of course they note it, as we all do!

They did not say that they didn't know why, that it was unjustified, they saw no reason reason for it etc etc, all the things companies usually say, they merely stated that they noted the movement.

It has put the brakes on for the time being, and will likely hold the SP in the mid 30s until next news whether that be result of FSP or a resource upgrade, but whatever, any few pence we lose now will be quickly regained whenever either of those pieces of news land.

B1ll

except of course they have not stated that all, nowhere in this or the previous 3 RNS's does it add the disclaimer re sale may not occur......so that now makes it the last 4 ......!

but I agree with your view that this has been 'forced' upon them a little.

I know it is possible to read too much into stuff, it is equally possible to not read what is actually there, so there are 2 sides to this, however let's just take another look at the RNS, the first line says:

"Eurasia Mining plc notes the recent significant rise in the Company's share price."

Note the full stop, that is the sentence, the company confirming what we already know, that the SP has moved up, it is a statement of fact, they are not saying it is a surprise, they are not saying they don't know why, they are not saying it is unjustified.......just we note the movement. In fact by leaving the statement there one could argue that they are NOT surprised, that they DO know why, and that it IS justified.

Second sentence:

"There have been no new developments requiring formal notification beyond those included in the Company's announcement of interim results on 30 September 2020."

In other words please refer to the last RNS to confirm what is happening currently, it still all good and we will update when we can. We have already been told that the company is limited in what it can say, today's RNS is NO NEWS, I am sure they have been advised to put this out as good practice following the vast amount of speculation at the weekend, the BOD or their advisors don't want to be seen to be complicit in rumours so the simplest and best thing to do is what they have - it is up to investors to decide how to interpret it but they have done their bit.

Well that was interesting, personally only frustrated that I didn't get a moment to top up!

Anyway FWIW my take on what has just happened is this:

We are no longer in a tradition AIM type business, we have DLA Piper and UBS involved, working for us, anything we do could reflect on them and they will have been really clear that certainly on the face of things, they don't want to be associated with anything un towards, everything needs to be squeaky clean and purely professional.

So, the SP has moved significantly in recent weeks as we know, but this weekend just gone saw a significant amount of media reports, in print and on line. I think the BOD were told they need to say something as any other company would be expected too after such a dramatic rise so they put together a rather wish washy RNS which actually says nothing at all except things are progressing as we stated a couple of weeks ago......

This was not a speeding ticket, they are worded very differently as has been reported on here already, no, IMO this was just to satisfy the market based on a need to say something. The first line is interesting isn't it? "Eurasia Mining plc notes the recent significant rise in the Company's share price" and they leave it at that, importantly they do not say 'they know of no reason why......" - these RNS's are crafted exceptionally carefully, every word in it is there for a reason, and often every word left out is also left out for a reason........

All the RNS actually says is we are progressing as stated before but we haven't actually signed anything yet, well we knew that didn't we, because if they had signed anything yet it would have been RNS'd......!

I imagine we will be back to normality very soon, frustrated I missed an opportunity to add, disappointed for those that felt the need to sell, that said those shares that did move will most likely now be in even stickier hands.

Hope we all have a great day.

Have to agree with that, Ian's post is most certainly the post of the day, to be honest we could just leave it that for now and all return on Monday, let the derampers have the afternoon to themselves..........

It is also a timely reminder that we should all remember how lucky we are, carpe diem.

Back at 7.00am sharp to check the latest RNS's.......GLA

Parsley2 - correction, I don't think anyone here ever said they liked the £8 SWS figure, in fact it has been challenged for months ever since it was first mooted, and secondly the 'insider' sales story is incorrect on a number of points, not least the fact that Phil Taylor is not an insider, just a large shareholder who has been transparent throughout the last 12 months.

I have emailed them to explain to me what they mean by the term 'insider' - they use the term many times and the article suggests that this person has more information than others, quite clearly this is incorrect and the guy himself has been on ADVFN this morning and quite annoyed by it all.

It is very poor 'journalism' indeed and in my mind needs addressing and correcting or explaining in more detail, it also serves as a reminder that you should not believe anything that any supposed investment report says, certainly not at face value.

Gives a new and even more important meaning to the acronym DYOR..........

I will let you know what they say when they get back to me!