Member Info for Shedulike

How can you say nothing has changed? Zinc recovery has improved massively to the top of management expectations. I'm sure the number crunchers will have a crack but I wouldn't be surprised if that single factor alone eclipses the capex.

Yes Aradas further testwork, but I was questioning why you said more drilling. It would be nice but it's not in the RNS, I actually wish we could drill outside the inferred to the east but we don't have the money.

Possibly the first RNS'd reference to direct "discussions with potential off-take partners"? It is definitely progress though I confess that this time last year I didn't anticipate the metallurgy to be so multi-phased. As ever the RNS reads emotionally flat which is absolutely correct - should get a better idea of the mood music from the media. No doubt the Bryllcreem is being slapped on Andrew at Proactive as we speak.

Where does it say further drilling Aradas? The next round of metallurgy will partly be conducted on samples from TD025 which will be new and I suspect (given the record mineralisation at 25) enhance the economics. Remember this second phase published today is working on the cores from last summer. We can look forward to increasing numbers I believe. I don't understand why the budgetary plan couldn't precede this good news as any rise will just be choked off - it's almost like they do it deliberately....

I didn't expect such a big increase in the Zn recovery. I had hoped for something clearer on deleterious elements but it seems WA think they can lower the levels further so I guess they chose not to announce them in detail yet. Good that arsenic and bismuth are not present but I suspect it's cadmium that they want to lower. Not a massive worry as you will always have some nasties. I can only find one reference to funding so I have absolutely no expectations for the SP to settle higher.

Well done Teaye let's hope so. Massive FTSE companies have managed to announce swift and stringent cost-saving measures. For EUZ to fail to do so with little cash and obviously no income is hugely reckless. We all know what is going on - they are no doubt ruthlessly cutting all outgoings as far as is possible, cutting contractors and suppliers to the bone before they look at Exec salaries that's why it's taking so long to make the budgetary measures public. Everyone will hurt before they do, I'm actually pretty embarrassed that I've been so supportive of the company on here when now they seem so reluctant to do the right thing by shareholders.

I do agree that the par you highlighted does raise some questions that I don't understand. Why are we transferring data to WA? We give them the core, they do their stuff and transfer the data to us. Also why would there be a delay in transferring data anyway? Is it sent physically on some kind of hard drive? I would have assumed they would share data with each other on a secure server. I have a feeling it may be a mistake and what they were saying was that there has been a delay at WA (perhaps due to staff absence) and therefore there has been a delay in transferring the data from WA to EUZ, they didn't really need to add the last bit as it's an obvious result of not having completed the tests but change the 'to' into 'from' and it does make sense. I hope it's that simple otherwise it's a very oblique explanation.

Trade - they've had the core needed for the second phase testwork in Cornwall since last Sep. When they announced the first phase on 18th Dec....
"Based on the preliminary findings set out herein, the Company will now proceed with the next phase of preliminary metallurgical work, adopting the recommendations made by Wardell Armstrong in the Report. This second phase of testwork is expected to be completed during Q1 2020. Sufficient core remains available for testing".

Curses! I always wondered why people posted things twice it's this flippin site.

You might be onto something there Storey, it's certainly open to interpretation, probably deliberately so. Early May it is then!

You might be onto something there Storey, it's certainly open to interpretation, probably deliberately so. Early May it is then!

So the delayed news has been delayed. If EUZ ever sell this thing they should put in a bid for one the rail franchises.

Haha as I've said before they just seem impervious to delivering what the market wants to know, which again as I've said before can be looked at as a strength. I've been in AIM companies that pump themselves to high heaven and then get found out. I have always strongly believed this would work the other way round but in the current market conditions we desperately need to know how they're going to preserve cash.

Blimey I ticked up a Bobby post - the world really has turned on its head!

Well the bulletin board is here for an exchange of opinions and my opinion is they have had plenty of time to come up with the budgetary measures. There's a very successful Ftse 250 company near me that has made sweeping pay cuts from boardroom down and they make massive profits and hold an unbelievable cash reserve. We have neither massive profits or a healthy cash reserve so I won't apologise for being a little worried :)

But Gam we will be insolvent if we just 'let it run', the money simply isn't there to keep paying the big salaries. We have to buy time. Just to get it straight I'm not advocating pay cuts as punishment for the SP being dire but to keep the company afloat for as long as possible. Anyone who isn't concerned should be.

The point is the best chance of a good outcome is to extend funds as far as possible into the period when the world economy is hopefully in recovery. We can't pay the big wages indefinitely, that's why I certainly do care.

I would say I think the results we have heard about operationally have been superb so no complaints there. I don't understand how the 2nd locked cycle for zinc stretched from before Christmas into this lockdown confusion, should have been delivered well before then. The excellent performance in the news we have received has just been battered by the mistrust sown by the dreadful 2nd DB raise. We need budgetary certainty before the mets or any rise will just get hammered again and we'll see the familiar image of LR shrugging his shoulders on camera about the SP, just like the last time. Yes I'm p8##ed off in case anyone hadn't noticed :)

Because we are not funded beyond Q2 and it is imperative that funds are stretched into (hopefully) a recovery period so we are not forced into a distressed sale. Either that or a placing and I don't fancy a discount on the current SP.

I know Bobby many other examples out there of Exec's doing the right thing. We're cash strapped as it is so the delay hearing from our lot is unforgivable. I speculated in March that we wouldn't hear about salary reductions until April so they could delay the inevitable until May, are they going to drag it out until May so it's implemented in June?? Why is there always so much inertia with EUZ? Don't get me started on the zinc locked cycle, didn't MC say 3-4 weeks in an interview before Christmas?