The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Any thoughts on how this will play out?
Our Neighbours, Arcadia Minerals (ASX listed) have a very large exploration area that completely surrounds our Tantalum/Lithium Mining lease in Namibia.
https://www.alignresearch.co.uk/kazera-global/kazera-global-positive-read-over-from-namibian-peer-arcadia-minerals/
https://www.arcadiaminerals.global/
Arcadia have already proven up a very respectable maiden resource and have plenty of other targets to explore on this massive land package.
Once Kazera Global finalise the 2.7p funding it would make a lot of sense to buy Arcadia Minerals exploration concession for what would probably be a small fee plus a modest royalty. Arcadia has only a modest Market Cap of approx £8 million.
It would be a great move for both companies. Arcadia Minerals could then concentrate on their other very large land packages and we would have a mine that has great potential to have a very long mine life which would be developed using cashflow from our established mining concession.
GLA Sharegar.
How's about.
The Government get a little more % of the project.
They would ensure we have all the security we need.
Funding finally goes ahead.
Harry is happy and gets his first meaty bonus in time for Xmas (which would require the higher SP >3p for 5 days).
That in turn means we would all be much happier than we are now because we could exit at 3p if that is all we are aiming for.
Could be the time for some compromising and exchanging of Xmas gifts.
GLA Sharegar.
Bellers,
You ask ” Do you think it’s being broken into smaller pieces to gain a higher value?"
Yes, It is looking very much like that.
Probably too many goodies for just one buyer. There have been many references like "rivalling Bushfield" and "world class".
It makes a lot of sense that several companies may be involved, after the final shake up. Some companies will have their eye on specific deposits because that is where their expertise lies.
There are so many quotes we could take from RNS's over the last couple of years that would point to a consortium being involved, not necessarily working together.
I think the strategy the board have been pursuing has been excellent and I do think they are adding value by being systematic and not rushing things. Just like Dmitry said he would do back in Oct 2019 when he was interviewed by Proactive Investors Andrew Scott.
In fact the interview was aired 2 years ago to the very day!
A superb interview. Not only have Dmitry/Christian and Co delivered what they promised it looks like they have surpassed what many thought was pie in the sky back in 2019.
https://www.youtube.com/watch?v=d_YMY6yiMDE
I highly recommend new investors watch the above interview so that they understand Dmitry had a plan a vision and he has been true to his word.
GLA Sharegar.
Excellent post and logical conclusions Bobbybingo,
All the ducks are lined up and to use your Bingo terminology it is not "two little ducks".
Your theory regarding the inclusion of JV assets in the sale is spot on, I'm sure.
Here is another big hint that fits your theory from the RNS on Wed, 12th May 2021 18:08:
"As announced via RNS on 14 January 2021, Eurasia and its advisers have engaged with a wide range of parties interested in acquiring either the assets and/or the Company. The Company has more recently focused its attention, including providing due diligence access, on a limited number of potential bidders who had shown consistent interest in Eurasia and its high-quality asset base.
However, after conclusion of the joint venture with Rosgeo ("Rosgeo JV") in which Eurasia will gain a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent ("Pt eq") Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project on Kola (as announced on 26 March 2021), the Company has now received several proposals including a proposal from a credible party for the potential acquisition of substantially all of Company's assets. The Board has decided to focus on this potential asset sale."
END OF QUOTE.
This "credible party" have successfully completed their due diligence and written to Eurasia.
To do that, I think it is safe to say that the JORCs must be complete for both MT/Flanks and the JV assets of interest.
Better still, there are more interested parties and that looks like a bidding war and/or other assets on the verge of being snapped up by hungry buyers.
Remember, the "buyer" that has just completed due diligence is the one that entered the race once the JV was confirmed as binding.
I have heard it said that the licences are often transferred at the beginning of the month. So, the week commencing Monday 1st November is going to be very interesting considering recent developments.
Investors should also remember that we should be looking at a pleasant surprise when it comes to the revelation of JORC resources.
Eurasia have specifically stated that the only reason they would raise more money was if the JV resources were higher than
the 104.6 Moz PGM known from the 2016 Russian Feasibility studies.
There should be more PGM for two reasons. EUA raised the money, lower grades will be more economical and should be added,
Why? Because every single Metal in our basket is much more valuable today than they were in 2016.
The EUA Rocket is on the launch pad.
UBS/DLA Piper and other advisors are still at mission control.
GLA DYOR Sharegar.
Captains’ log: The year is 2521 and the Eurasia sale is finally concluding.
However, devious shorters are still desperately trying to disrupt Starship Eurasia.
Captain Smirk: Let’s make sure the great mission Eurasia is sabotaged. All boiler room Crew on Deck.
Spook: Captain, I must warn you this mission has 99.8% chance of failure. The Eurasia sale cannot be stopped.
Captain Smirk: If we can understand their language, we can twist their words.
U Who are u: Captain, I cannot translate the mother tongue of the suspected buyers. The chatter seems to be a mixture of Russian, Chinese, Japanese and all with an American accent.
Captain Smirk: Scottie Terrier, have you any thoughts. You specialise in languages that no-one understands. Even the natives.
Scottie Terrier: Nae Capin. Ah dinnae Ken. All I know is the Boiler scam Cannae take any more. The share price is about to explode.
Doctor McLand Ahoy: I can confirm Captain. The scam is in mortal danger. There is no short fix and therefore I’m afraid zero chance of survival.
Spook: To be precise, Captain. I calculate it as 0.0021% chance of a successful shorting scam and the chances are rapidly diminishing.
U Who are u: Wait! I can just about make out “Sale” and something about “confirmed”.
Scottie Terrier: I Cannae take any more! The Boiler room is about to go up in smoke.
Captain Smirk: I have considered all possibilities. Let’s abort mission buy lots of Eurasia shares and change our names so that no one will ever know.
This video has been posted recently.
https://www.brrmedia.co.uk/broadcasts/5e3c0041397af40afa52b455/ironveld-video-update-from-cape-town-2020/
@45 seconds.
On 7th Feb 2020 Martin Eales states that HPI sells for over $1000/ton.
Ordinary Iron 62% was about $85/ton on that date.
Today Iron 62% is $122/ton so I am assuming HPI is even higher than the figure Martin Eales mentioned in the video.
Always worth repeating:
80 million tonnes of magnetite ore - the JORC compliant mineral resources demonstrates holds 1.6 billion pounds of Vanadium, the equivalent to four times annual global demand
32 million tons of High Purity Iron in situ
9 million tonnes of Titanium.
Plus further exploration potential.
Grades are all very good as well.
It took time but congratulations to the board in getting this company changing deal through to the finish line.
Great times ahead, I feel.
Thanks as well to the informative and positive posters on this board who helped me keep my position through the quiet times!
GLA Sharegar.
whl2,
I agree with you. The "bigger boat" will not likely be this year or next.
However, my point is that if increases in the amount of customers take place, the compound effect can be staggering in terms of sales figures.
So, I suppose I am suggesting that in 2 years time we could have a company much bigger than people are imagining now.
There could be other reasons for something like this to happen.
With inflation rearing its ugly head it makes more sense for Brazilian farmers to stop buying expensive fuel guzzling imported fertilizers and go for a more sustainable, green and proven product like ours on their own doorstep.
Harvest is now at the stage were it is not only the sales team that are singing the praises of KPFertil.
The rapidly expanding customer base (exponential due to 25Kg/bag customers) will feed the frenzy.
"We are going to need a bigger boat".
At some point in the not too distant future we could be expanding the cashflow and we know from experience that the cost of another process/storage facility is very affordable.
Yesterday's RNS regarding "a sample" from the first drill hole having confirmed Copper mineralisation is a great example of how a company should not release an RNS that does not have all the relevant information.
Investors are in the dark about how much of the core was mineralised, it was only a sample. This has created a short term problem for the SP.
The recent price action suggests that many people are assuming there is not much mineralisation over the whole length of core.
The people on the board of Arc know exactly what they are doing and also would have known there was not a requirement to release an "incomplete" RNS.
I am wondering what their motives are. My guess is that they want more investors in at a bargain basement price before we set off for the races.
So, I think I will have to put up with some short term pain for long term gain.
GLA Sharegar.
Greta Thunberg finally lose her patience with Eurasia and our board after 30 years of negotiations for a green economy and the mega deal that will save the planet.
https://www.youtube.com/watch?v=g90vJ3XrnaA
Well that is what it looked like to me.
C'mon Dmitry and Christian lets make that deal so that Greta and the planet can Chill out.
Not long Greta, in fact very "shortly".
GLA Sharegar.
Mac and DanielC43R,
The information you both mention explains why I think my own $200B in the ground amount is conservative!
Who knows exactly how gigantic this is. (Maybe Rowka/Hoochy and Wall street Journal?).
That is why we are joining the "Majors" and it is referred to as "Bushfield", "World Class" and "Tier One".
GLA Sharegar.
From the Interim:
1. "Proposal received in May for the potential acquisition of substantially all the Company's assets. Since then, additional interest from other parties is being considered by the Board."
2. "Recalculation of MT and Flanks resources and pit outlines, reflecting considerable metal price increase since FS of 2016, integrated to Detailed Mining Plan as announced 15 September."
The above statements from the Interim report suggest that the Recalculation of MT/Flanks and the very likely increase in Resources for the Rosgeo JV are possibly the reason for the additional interest from other parties.
A bidding war could be ongoing. Seems like the parties have more or less got all the information they needed.
Original offers would have been for the known resources which were calculated in 2016 when metal prices were much lower.
The recent update for the improved mining plan by a factor of 1.7 means that the resource upgrade must be significant.
Therefore, it signalled game on again for previous or new "interested parties" who would naturally increase their offer now that they know exactly how much more they are getting for their money.
To be honest I've lost count of the original resources. But lets say 15M Oz+ for M/T Flanks (Pd equiv) and 104 M Oz (Pt equiv) for the Rosgeo JV assuming we go up to 100% ownership.
If you consider further, the exclusivity zone and then factor in the recalculation of increased JORC resources for 2021 metal prices we could be easily talking over $200 Billion metals inground.
The mines are low cost Open Pit.
No wonder there are many parties fighting over substantially all of Eurasia's assets.
GLA Sharegar.
EUA call the shots on the JV.
The JORC relating to the Rosgeo JV will be released "Shortly" . Looks like Eurasia are going to take the 100% option and package it up for the big sale.
GLA Sharegar.
Mar 26 2021 RNS
"The Rosgeo Agreement provides that Eurasia acquires 75% equity stakes in each of the Additional Assets and Rosgeo will retain 25% equity stakes in the Additional Assets (being those companies holding relevant licenses for palladium, platinum, copper, nickel and cobalt projects outlined above). Eurasia also has a call option to acquire 25% from Rosgeo after completion of the reserves audit under the JORC Code. Any engagement with Rosgeo as a contractor in relation to the Additional Assets will be on an arm's length basis."
If you think Motley fool are being positive about EUA, you should read their article more carefully.
No mention of the upcoming sale.
No mention of the massive company changing JORC resource increase that is incoming.
No specifics on the actual number (9) of open pits the JV has.
Motley fool do not inform their readers that EUA can take 100% ownership of each JV licence when the JORC is released.
This article whilst not being dishonest is being extremely economical with the truth.
The wording used in their article is carefully measured hoping to subtly misdirect and this means that new investors will miss the whole point of what Eurasia is all about.
IMO Sharegar.
Just as I repost . My original one appeared again.
No I am not going mad I tell myself.
I still believe we have an amazing asset and things will come good. All I ask for is precise info even if it is not what we want to hear.
GLA Sharegar.
My post from earlier today disappeared.
I have hidden identities this time around just in case that is the reason it was taken down.
xxxx xxxx: I hope you are listening.
The least the xxxx board should do is to confirm talks are still ongoing, and do it every week for their sins!
It is now almost 25 weeks since this statement and do not forget it is almost 2 years (or almost 104 weeks) since the strategic options started to be reviewed. We are still none the wiser.
RNS: Tue, 30th Mar 2021 07:00
xxxx xxxx, xxx, said:
"The six months to December 2020 ultimately proved frustrating and despite best efforts, we were unable to conclude the envisaged transaction with IIG. We have, however, made material progress on a possible alternative transaction in the early part of this year, which we hope to conclude in the coming weeks.
True: xxxx xxxx is correct by saying "coming weeks". He would still be correct if it took 2,000,000 weeks.
However, as shareholders it is not too much to expect information that is not misleading and if talks go on for longer than anticipated which is quite normal I would expect professionalism from the board and keep shareholders updated as is their duty.
So come on xxxx xxxx keep your shareholders informed or stop making statements that imply things are happening faster than they really are.
As good as it gets for a placing RNS!
All the great news is forming an orderly queue and Mr/Mrs Mega fantastic Sale RNS is waiting to make his/her grand entrance.
I must point out that if Carlsberg did Eurasia RNS's there would be one small alteration.
Christian would have said "delighted instead of "pleased".
I should be fuming because I took that 1/100 bet that Joe on twitter was offering.
https://twitter.com/EUAjaygee
GLA Sharegar.
Martin Eales: I hope you are listening.
The least the Ironveld board should do is to confirm talks are still ongoing, and do it every week for their sins!
It is now almost 25 weeks since this statement and do not forget it is almost 2 years (or almost 104 weeks) since the strategic options started to be reviewed. We are still none the wiser.
RNS: Tue, 30th Mar 2021 07:00
Martin Eales, CEO, said:
"The six months to December 2020 ultimately proved frustrating and despite best efforts, we were unable to conclude the envisaged transaction with IIG. We have, however, made material progress on a possible alternative transaction in the early part of this year, which we hope to conclude in the coming weeks.
True: Martin Eales is correct by saying "coming weeks". He would still be correct if it took 2,000,000 weeks.
However, as shareholders it is not too much to expect information that is not misleading and if talks go on for longer than anticipated which is quite normal I would expect professionalism from the board and keep shareholders updated as is their duty.
So come on Martin Eales keep your shareholders informed or stop making statements that imply things are happening faster than they really are.
A question for some of our better researched friends,
We first had M/T discovery which effectively qualified us for the flanks and consequently this is the reason Eurasia was in pole position for the Massive JV with Rosgeo.
With each parcel of land we have managed to get ever increasing resources. This will be confirmed soon.
My question is: How much more Bushfield like land (licences) are going to be available and exclusive to Eurasia beyond all that has already been ear marked?
Bearing in mind how Russian law works. When a company confirms a resource they get a certain area beyond that particular discovery.
This would mean that the amount of eligible land will snowball to even bigger amounts once we confirm the resources of the flanks and JV by JORC standards.
Would I be correct in my assumptions and does anyone have a handle on licences that could potentially come our way?
GLA Sharegar.
Just for you cygnetcommittee,
I said
"There have been plenty of rumours/educated guesses but I think anyone revealing sensitive data would be in very big trouble with the law".
You obviously did not notice that I distinguished between speculation and revealing sensitive data.
Anyway, you are obviously at the wind up (IMHO).
GLA Sharegar.