Member Info for Shedulike

Not unknown for EUZ. I think the old only bad news RNS's on a Friday is a thing of the past when you had to get the FT on a Sat to check your stocks. Will a month have been long enough for Bara to crunch the numbers? I had expected to hear about drilling by now, maybe rig mobilisation? I expect the strategy to be conservative as I mentioned earlier, I don't think we can afford to risk stepping out and potentially missing.

I think I follow Jed, have you tried lying down? :) I agree it's hugely frustrating, but to be honest I put the situation I'm in with EUZ partly down to bad financial planning by all our Exec's (they must of known years ago that we were way short of cash to reach a PFS), but also my own mistakes in underestimating what would be required to reach a saleable position with Toral. This time last year I thought the 2019 drilling would be enough to prove and sell the asset, I was wrong and I've been hit with two dilutions for my error. On the plus side the work since then has been excellent and anyone who believes in the asset has the opportunity to reacquire their % significantly below the institutions.

Jed the drilling is essential to prove the resource is there and that it can be mined economically. Fortunately we inherited the majority of it but they seem to be concentrating on the central mining area now. It appears that the plan is to demonstrate that this zone can be mined profitably leaving the outlying exploration potential to someone with broader shoulders, that's my theory anyway based on what we've been told so far.

Yep and I don't think general Covid fears in the market are helping us today but we now know construction can continue even with more stringent lockdown measures than we currently have. Plus most general builders proceeded as normal during the height of lockdown. Still an overall contraction as evidenced by the results but better looking forward which the market will eventually do. Still think Francis' bonus was massively premature and he should give it back until his talents are proven by results not hopes and expectations.

Yes that was an intriguing comment Brikz and the copper has always been there as you say. Makes it all the more frustrating (as ever) but perhaps a potential bonus for a bigger player. As Bobby said concentrating on our core metals is the best use of funds anyway.

That level was in April well before they took the bull by the horns with the capital restructuring. The market back then feared all construction could be mothballed indefinitely, I don't know what the SP will do today but it's obvious you are trying to spread panic.

While I'm no fan of the bonus paid to Francis before we even get a hint of a turnaround this isn't too bad considering. From the hysterical post earlier you would think they were results to 5pm on 23rd Sep. Calm down dear, H1 results with CV already priced in, gradual recovery starts here IMO.

Not knocking any fellow posters but it always interests me how when the SP is suffering there is virtually no appetite for a discussion about Toral. I don't think it was even mentioned yesterday, though Trade did reference some comms with LR. I was just wondering if we'll ever get to know what the flipping Copper actually means to this project. Guess most of us have always hoped it would be the bonus metal but the economics of it never seem to be progressed with the others. LR once said we just don't have the funds to investigate it properly. Wonder if that will change and Bara finally weave it into the new economics? Can't say I'm particularly optimistic as it wasn't included in the metallurgy, any thoughts?

Thanks Trade I saw that, slightly reassuring. I get your point Teaye but I suppose until each workflow is complete there is a danger of a partial update being misleading. That's why I was a little surprised at the EU funding application being RNS'd, it's going to look awful if we can't agree something now.

Haha some common ground at last. Mind you Harlequins? I could have guessed :) Funny thing I've always had my suspicions that LR could be a Harlequins type! One of the most underrated players in the league - Ross Chisholm, always plays well against us.

I can't defend the indefensible, in fact as they don't have a defence, how could I defend them? For once Bobby I have no argument, that old and once proud RFC are now complete rubbish.

Let's hope so Grimster. Could do with something positive - some practical communications from the Board would be a start.

That's a very mature suggestion Syntax, however as the moaners on here couldn't even be ar*ed to click into a Zoom meeting I'll doubt they'll have the capacity to write a letter. Guess it's just cathartic to have a good old fashioned winge, if the SP gets any worse I might even join in :)

That's fizzled out already Grim, I expect us to struggle until we have corporate transparency. Turning point should be the interims and news on flotation capacity.

The institutions aren't going to invest on a hyped SP. The PI AIM investing herd will move to whichever feeding ground is in vogue and you'll see crazy rises. Right now we're less than unpopular but for me it doesn't change the facts that we've seen in a year of cracking work rubber stamped by independent reports. With the SP ailing despite that it's a cheap and popular sport taking pot shots at LR with the guaranteed social media style thumbs ups but everyone has to admit responsibility for their own actions. EUZ has always been low key on promotion (look at the website). LR has always had an unusual presentation style, these things have been prevalent for years but still people invest and then moan when they don't see the company front of house they want. Guess what you don't have to be invested in this, some contributors to this board seem to have bought a car they don't like, sold it and then bought the same model back because they're addicted to winging. Ownership of EUZ stock is not compulsory purgatory, though it does feel like it at times :)

Bobby I agree with you in so much that I do find EUZ's approach to PR as slightly odd and it is something I have discussed. You might be interested to know LR established and sold a mining focussed PR company for millions before going to Uni and studying Geology. This isn't just a put down for your "Until LR takes himself off to Uni and studies Public relations" comment but an intriguing (I hope) insight into their apparent ambivalence to promoting the company. As an experienced and successful PR man he has clearly rejected hyping the company because of confidence in the asset. The list of AIM explorers that work the trick in the opposite direction is endless, PR, hype, PR, hype and the story unravels when the economics get scrutinised. I confidently believe EUZ are doing this the right way round but I admit it is proving a tougher journey than I ever imagined.

Casa do you have any thoughts, observations or analysis to accompany that opinion - otherwise it's a completely pointless comment.

Syntax I was told the next round of drilling isn't dependent on the new permit but I agree its starting to look tight. On the hydrology we've had piezometers being monitored throughout one winter already but I guess that monitoring will go on through exploration, development and mining. The bore hole seems to be a bigger deal than I expected initially. Could be right Bricks though I think if more drilling is required to de-risk the mine it is arguable that local prosperity is dependent on its completion. I guess the rig crew are based in the region? Anyway it's definitely going to be structured and conditional so looks like the all expenses paid investors trip to Toral via Barcelona and Seville is on the back burner for now :)

Just this platform's software taking the mid as 9.75 Inthepost - try buying a load more above 9.75 and I bet they'll show as a buy!

Can't really argue with Cannacord's comments. One positive is that they maintain a target price of 40p despite the uncertainties. Worth noting that less than a year ago their target was 16p so we've come a long way. Just need to get over these corporate issues, get the focus back on the good news Pox story, flotation capacity increasing etc and we should fly.