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Excellent report but the wider market still chooses to ignore EUA. Same thing going on though in other Mining stocks with lots of good news and much of it far more specific than EUA RNSs have been of late.

We just have to hope that Dmitry and co are as keen as we are to see this saga draw to a close soon so we can enjoy having some extra pocket money to spend come Christmas time.....

...here, I think everyone can agree on comms being extremely poor!

No one has a clue what the hell is going on and that generally isn't a good thing. DB has form with regards to holding out when it's bad news so I wouldn't expect anything great any time soon given just how tight-lipped he has been in recent months.

The longer this goes on the more convinced I am GDR is being put on a platter for someone to acquire. DB simply can't justify his huge salary from such a small company with a performance such as has been witnessed this year. Thus far we have no results, no sales and a decline in the sp of over 65% from fairly recent highs in February. If anyone applauds him on that then they must know something I don't....

DB: please get some decent comms out as sentiment is rock bottom here and you're not helping attract new investors. Without new interest we're heading for funding problems in the short term and then probably looking at some serious dilution. to keep the show on the road.

In other words MrYFronts you think if MT + flanks are sold soon you think it will be just valued as it is currently? ie just under 2m oz being proven?

Honestly don’t think there has been any bidding war. This would all be done and dusted if there had.

Mt + flanks deal done, pending JORC on its resources.
EUA May not have started this process having been in an FSP with the aim of selling without having to prove it all up ie not spend the money on it. Who knows. All conjecture as usual.

If Mooching is right then Sept/Oct could be party time. Sadly that leaves plenty of time for more mm games and shorting rubbish.

GLA

the *sp* will more than double…

Agreed Mooching.

A question that’s been posted here many times by myself and others (but not yet answered) is: how long does it take to prove a resource as large as we think is present at MT + flanks? The RNS of May 12th stated that since the JV with Rosgeo had been confirmed they received a proposal from a credible party. Therefore perhaps that proposal was received by EUA at the start of May or earlier and was, as Mooching suggests, dependent on resources being proved up to JORC. We’re 3 months in since then so, when could that JORC update be completed by? Is it a 6 month process, a year, or does no one really know?

Personally, I’m hoping this is exactly what we’re waiting for and that once it arrives the so will more than double and our special divi will be well north of 50p.

Any one able to answer that question, even if just approximately? Tks

As for the two losers who signed in yesterday: waste of space. Both reported and filtered and hopefully both will see sense and employ common decency before posting again or before they are burnt to cinders by EUA.

..at both MT + Flanks - say 15m oz- and the NYUD asset (of which we’d only get 75%) - say 19m oz - then what would the sp be likely to re-rate to?

Given EUA seems only to be valued at about 2m oz and WK at the moment, a re-rate could be considerable. Significant.. even!!

Ps I’m not sure that figure of 19m oz for NYUD is right so please do correct

One is all we need to turn the tide.

Agreed that it’s well oversold.

More waiting though before it really takes off. PJ is going to need some serious funding to continue at this pace and I’m guessing that’s why someone is selling fast, so as to avoid several runs of dilution. This is a long term hold.

Ian, can you please add an entry into the RNS comp for end of this week, Friday 6th Aug.?

Special divi of 39p unless MT + Flanks resource of 15m oz updated to JORC standard arrives before then, and in which case a special divi £1.39!

JOB had nothing on EUA lths!

GLA

Only way this will bear fruit in the realm of £2 per share is if there is a monumental resource update from MT and the Flanks. That would cause a pretty massive rise in the sp and perhaps from there we could anticipate a dividend at a rather more modest premium to prevailing share price? As it stands it would have to be ten times the sp and that's just not going to happen. Patience required, yes, but feet on the ground will do just as well in terms of what we might end up being given. Just mv

just now I'd consider 85p a low ball offer. Being more positive I'd hope for anything between £1 and £1.50 but the longer DB allows the sp to wallow at 50p the less likely it looks.

One more thing to add to this is that I have no doubt DB would get a sales RNS out if it was positive. Therefore my assumption is again a rather negative one in that either sales haven't happened yet for some reason or they're really poor.

At the moment I'd take £1 and run for the hills.....

LLoyd88 - I absolutely would if I knew how good the products were but the sales journey hadn't yet even got under starters orders. That's when larger companies want to strike with their take overs, not once a cpm[nay is on the up and can push for a higher purchase price. BC must be aware of exactly what GDR have in terms of quality products and they are best placed to realise successful marketing/sales campaign. Now is the perfect time to make a move and also BC are in pole position now to be in control of any sales progress thanks to DB signing the distribution agreement. There will, I believe, come a time when BC (Danahar) make an offer and if it's not accepted they will withdraw from the distribution agreement. That would send the sp plummeting another 50% lower imo. as things stand they have DB and GDR over a barrel. Accept our low ball offer (and DB gets a nice personal offer out of it) or you're on your own and we'll wait until you're a distress sale and then take you for peanuts.

Pretty grim analyses I know but this is business and none of the big players out there have a shred of loyalty or care for DB and GDR or its shareholders.

I have my own thoughts on what this company could be worth but DB hasn't managed to manoeuvre the company into the right position to realise its potential. Of course delays in approvals have played their part but, as I see it, we are between a rock and a hard place now, unless sales are reported very soon and are positive. Unfortunately we are all agreed that DB and good comms aren't happy bed fellows in any single given sentence and so whilst he stays silent I am inclined to think my take isn't as far fetched as some would suggest.

Any one thinking along these lines? I’ve not read this bb for a while but I see Guy and Jace are here all day, every day posting their frustrations and fears. Either you’re both invested way above your necks or you’ve an agenda. Easy for me personally to judge which side of the fence you’re on. Whether you’re positive or negative on this stock however, you have to admit the comms are utterly dreadful and DB has done a poor job in keeping sh informed.

I would say though that we have been told to expect a three month delay so won’t hear any news on FDA or EUA until Oct. Disappointing? Yes, for sure, but at least we know not to continually ask for news on that front until then, so why waste your breath? Lack of news on other fronts is equally frustrating, sales in particular but again, have we been told to expect anything right now?

The silence is odd so I’m still inclined to think a deal could have been lined up behind closed doors, dependent on FDA and EUA news, hence it’s perhaps all informal at this stage and no requirements to announce anything in an RNS - plus the likelihood of NDAs being signed between parties until things become more certain. All fanciful?? Or does anyone else here think DB could have lined this up and land himself a new position and to be rewarded handsomely (in terms of shares and options etc) by a potential purchaser?
I hope for one of two things. Either there is an update on sales very soon which is positive and gets the sp moving back towards £1 or that hypothetical low ball offer lands and amounts to £1 - £1.50 per share. I’ve loaded up whilst we’re sitting at such a low price and so am now quietly confident I can rescue this investment.

GLA

Blimey, this has turned out to be an awful investment over the last 6 months. I know that's not a lth but I had no idea ZOE was in for such a spectacular drop in such a short period of time.

Any end in sight or could this drop into the 30's?

but of course it's down in red as a sell. Tedious

Things seem to be happening at a pace now, albeit hidden from view somewhat. Fascinating theory from GFD and hope he’s right but any comparisons with TILS would have some running for the door. Look at its sp action over the last year! I know, I’m in there and it’s painful. Mind you, the BOD have been woeful.

See you all bright and early tomorrow for big news.
N

From all the updates it looks as if they’re ploughing on and i can’t see now what looks like is set up to sell. Back to the daily grind? I’m probably just missing something as per usual. What do others think?

Even if the asset sale is off, were we to get JORC figures of 15m oz at MT we’d be on for a really significant re-rate pronto imo

So is that EUA quietly admitting they think MT is worth $2b and that's what we should expect? Or huge upside from $2b??

S someone posted yesterday, the FSP failed to find a buyer at the right price but the JV with Rosgeo has clearly changed matters for the better as far as EUA is concerned.

Therefore surely it won’t be just MT being sold, or even MT plus WK, as they have been available to buy all along. There must be something on offer from with in the JV that has tipped the balance fairly considerably. I’m hoping we’re now waiting for resources at both MT and NYUD to be updated, upgraded and proved to JORC and then that is the asset sale that would comprise more than 75% of EUA’s total value.

I’ve asked before but does anyone know, based from current info on these two areas, how long it might take to get that upgrade etc done? I’m hoping the BOD kicked off the process back in May around the time of the RNS that announced where we were heading.

If volume continues to dry up it will be very interesting to see if mms up the BID and subsequently if that nudges people to sell, or we’ll shares remain in sticky hands..? Obvs hoping for the latter and that we see the sp hovering back around 27/28p. Think everyone would be happier waiting for another 3 months at that level.

Just my humble opinion but it’s either going to be very soon at something if a knock-down price for MT plus NYUD or a wait of another two or three months for a more substantial offer. Even better would be a scenario where one of the parties involved starts to get twitchy and decided to try and buy the lot to secure everything that’s in the ground.

GLA

Isn't that decidedly odd to pick out a random tweet that happens to mention 'bidding war' ? Why not choose one of many other positive tweets that don't mention that? Or is it just that GMF is seen as a respectable and knowledgable investor with a reliable track record?

Have to 'fess up and say I'm a tad more excited now by this RNS and this ACF tweet than I've been for the past few weeks. Something is definitely brewing and I am confident MT is going to be sold. How much for will of course provide the starting gun for another guessing game. Personally I am a little sad if it's going to be sold before more resources have been proved up as at current prices I'd think it's not going to fetch more than say $3b?? Total guess. Hopefully half of that would be paid out as a divi though and give share holders a well earned bit of respite and reward with a significantly higher sp.