Member Info for Shedulike

Timings are dependent on whether they collate all results together or provide updates as they go. The samples sent early in March could well be done soon but if they want the whole campaign assayed and RNS'd as one, we're looking at four to six weeks from some point in the future :) So there is a huge range in possible expectations.

....or not.

No worries Teaye, I've been called a lot worse on here :) Don't get me wrong I really like the Tweets, great to see the reality of the local engagement and new technologies being used, I just feel that they have taken an opportunity to take this set of drills behind closed doors so after over two months we don't know anything about the number of drills, depths and wedges which just leaves me wondering is there something in this information that could give certain info away that they don't want public before the assays? I'm struggling to see what news of a successfully completed drill could give away so just feeling a bit frustrated. Anyway I see it's five to seven so maybe LR is in the wings ready to draw back the curtain as I type.....

Yeah fair play Teaye - I'm not trying to create a storm in a teacup. I'm just annoyed because the moment I saw the Covid caveat I asked how would the drilling be reported and was told exactly as before. That clearly isn't the case so as a shareholder I'm not happy being fobbed off. It's not the end of the world but a few things have happened with EUZ recently that have really pi**ed me off. The lack of regulated news alongside an intensification of social media is IMO faux transparency, there could be a good reason for it but I just don't like being kept in the dark on information that should be released as promised.

Well there's certainly been times when, as an EUZ shareholder it has felt as if salvation might only come by way of a Messiah. Must admit my faith is also being tested by this complete news blackout on drill progress. It's completely at odds with how they've kept us updated in past campaigns. Fine to cite CV protocols as a reason not to provide forecasted timelines but when milestones are reached that's not an excuse to still leave us in the dark. As shareholders we deserve better than that, I can't think of any strategic reason not to have continued with the policy of RNS'ing drill completion / drill commencement. For all we know every drill has gone haywire, I don't believe that has happened but I want to know where they are, not because it necessarily has implications for the SP but simply that it is a reasonable expectation to be informed on operational progress. Might see what Strand Hanson have to say tomorrow if it's still smoke and mirrors in the morning.

I did get slightly excited when I saw that a Jesús Montero was presenting, but it's not ours.

Yes I think realistically it's likely that all assays will be collated together so it's probable that results will come 4-6 weeks after the last drill. They do seem to be sending them as they go though so there's always a chance of a surprise announcement, but it's anyone's guess how far they are advanced with the drilling.

Difficult to say 10bt - once the drilling is complete we can start calculating how long for assays, how long for the new JORC to be returned and how long might it take to tie the PFS together. Problem is they're keeping us in the dark on the progress of the drilling campaign which I don't mind admitting is irritating me, just hope there is good reason for not reporting as before.

Morning Bricks - I agree, you can think of the mining licence a bit like planning permission in that you have to define what you are actually going to do which is why we've held off on that front. I'm sure you can put in for amendments as things evolve but better to get as near to the final plan as is practically possible at the outset. On the drilling I was interested in this comment in the commencement RNS "The first phase of the drill programme will target areas above the 600m level", makes me wonder if there will be a second phase, so the first to "sweat" the early years economics and maybe a second to target improving the LOM? Though heaven knows where the cash is coming from, didn't MC say $US0.5m per deep drill?

VR I think what he was saying is that the best way of selling a mine is to position yourself so that you can develop it first then if negotiations were initiated for a sale or JV we hold all the cards. Putting the 'For Sale' sign up without this optionality could make us too cheap. I'm increasingly convinced that Europa want to develop it now but it's going to need some heavyweight financing.

We actually had a small indicated copper resource. Here's the Micon report from 2016
http://www.europametals.com/site/PDF/e7551e09-85c8-426e-b21e-383e3c0ce713/CommencementofToralExplorationProjectWorkProgramme
When we reworked the JORC in 2019 AMS put all our data through a new model so I guess we'd be starting from scratch with the copper but I'm certain anything that improves the early years and brings forward the break even point is going to be well received by the market.

Bricks I think it's really interesting, we knows there's still ore in situ when they left in 1983, the tailings could also be reprocessed with ore sorting. Plus going down the most rabbity of all rabbit holes those crystals fetch big bucks! Maybe we'll have a bolt on Europa Crystals boutique one day :) Anyone got a 'LR with head in hands rocking backwards and forwards' emoji?

I think you should be okay SteveE60, particularly with the 9p ones :) Anyone interested in the weird and wonderful minerals down that spooky Antonina mine, https://www.mindat.org/loc-46509.html , no? okay just me then.

I wonder if we'll hear more about our next door neighbour one day....
"Antonina a Pb-Zn mine located near Toral de los Vados but in the Sobrado "municipio", worked from 1935 until 1983. After closing, amateur mineralogists have obtained in the higher levels the mine a very interesting suite of Cu-Zn secondary minerals".

lor I know but they had their knuckles rapped for the detailed pics of the mineralisation in 2019. When the assays came back I remember a line in the RNS that the mineralisation in some of the high grade intersection was of lower grade than expected and we came back down. They've been more cautious since but there's no reason I'm aware of why they can't update on progress as before, I guess if you're going to hold you just have to trust that they have their reasons but I'm just intrigued.

Good to hear about those buys VR, it has been confirmed that pics of the core prior to independent assays has been vetoed I assume by the Nomad, but there's definitely an unexplained change in policy on RNS'd updates.

Further to what I said about drilling news, for any non LT inmates this is how we used to sequence RNS'd news flow from the pad. I'm not highlighting this because I think simple drilling updates will do anything for the SP, it's just that as a shareholder I want to know how it's progressing as successful drill completion is firstly a reassurance and also we can glean info about the strategy from info on depths, wedges etc. There's no way we haven't completed one shallow drill so the question for me is why is it top secret this time?

Summer 19 Campaign:
15 May 19 - Commencement of drilling at the Toral Project
13 Jun 19 - Deviated drill - Drill hole 2 (TOD-022) commenced on 11 June 2019
11 Jul 19 - Drilling Update: Hole TOD-022 Completed, Hole TOD-023 Commenced for Metallurgical sample
15 Aug 19 - Drilling Update: Hole TOD-023 Completed, Significant Intersection of Visible Mineralisation
2 Sep 19 - Hole TOD-023D Successfully Completed at the Toral Zn, Pb & Ag Project, Spain

Winter 19-20 Campaign:
19 Nov 19 - Commencement of drilling at the Toral Project
5 Dec 19 - Hole TOD-024 Completed, Hole TOD-025 Commenced
(Drilling suspended at least two weeks over Christmas)
31 Jan 20 - Hole TOD-025 and Wedge Completed, Toral Pb, Zn, Ag Project, Spain

Winter 21 Campaign:
18 Jan 20 - PFS Update: Commencement of Drilling Campaign at the Toral Pb, Zn & Ag Project, Spain
….. Tumbleweed.

Yes that is interesting Quant and I overlooked that as my eye was caught more by the 'smelter initiatives' which ties into the Mayors' comments. We've been looking to secure financing through the silver in particular since the product marketing agreement was formed with Conrad in August. I do like the Tweets but they are becoming maddening cryptic, I've already mentioned today how proper RNS'd drilling progress announcements have been replaced by pictures of bubble wrapped core on pallets leaving us guessing. Just hope we get a substantial regulated update soon.

I'm seriously starting to believe Toral is going to be bigger than even the most optimistic LTH's had ever believed. LR is very cautious about what he makes public, but we now have the Mayors talking about 'when' not if Toral is exploited, meetings discussing the ancillary services, local stakeholders and corporate development talks all in one week. This mine is going to happen 100%.

That's really interesting mfm. 'Greener zinc smelter initiatives', we had this comment in the local paper article about the Mayors..... "The mayor of Carucedo, Alfonso Fernández, and the mayor of Toral de los Vados, Pedro Fernández, have spoken of the need that when the zinc, lead and silver deposit that the Europa Metals company is promoting is exploited, a factory is opened in Bierzo that transforms this product into the Bierzo, and not elsewhere". Could it really be possible that they want to build a new state of the art green smelter in the region? That would be incredible and a massive endorsement, also maybe why LR flagged the fact that they were particularly interested in the LOM, and if this has been discussed for a while why we have never tackled the smelter compatibility with Glencore.