Member Info for Shedulike

Newbie there are already NDA's in place so they have constantly been talking to the industry. EUZ are always very cautious in their RNS's and I think it does spook a lot of PI's who are used to other rampy AIM outfits. I did share your initial feelings as I suspect we all do that first quick scan looking for positive or negative snippets, but when you digest it with all the detail about the significant operations in addition to drilling you realise how this is clearly being progressed to viability and sale. Negotiations will be in the background and ongoing, it will be discrete and not shouty until they are ready to put a deal to shareholders.

As ever delivered in a flat non-rampy style, what does that tell us? For me look for details like this: "A geotechnical study is currently being completed, to a pre-feasibility study level, with more than 60 samples being tested across four laboratories. This study aims to characterise the rock types of the Toral Project, thereby enabling further review of the proposed underground mining method and design. The report will aid further economic revisions to the mining model, which the Company intends to announce once the initial findings are available". Not terribly exciting on face value but it suggests to me that we have the resource and are now completing the practical groundwork on behalf of someone with the muscle to take this forward. Reading between the lines I'm certain we won't see flag waving "For Sale" signs, it's being conducted much more discretely than that and has been for some time.

Quite Numpster on second reading this is what we have all been hoping for. LR said ages ago that there is so much more to making this viable than just drilling, the great news is that we have what we need to deliver a mine and the remaining work will be completing the engineering work, progressing stakeholder engagement etc. The only question now is who, when and how much.

Must admit I expected another drill but overall I'm pleased. I said a while back that at some point the Exec's would have to curtail their natural curiosity to maximise the indicated resource at Toral and act in shareholders interests which is to return value to shareholders. This is the clearest indication yet that we have what we need market this.

No they are funded for this campaign.

0.024 paid on NEX with low volume, wonder what a big buy costs now?

Ah I see what you mean Bricks... for sure we have 'optionality' now.

I'm not sure Bricks, wouldn't forward selling the silver suggest we'd be planning to progress Toral with some kind of offtake partnership? Nothing would surprise me but we know LR favours a complete sale, anyway who knows. I'm getting intrigued by 025 now, given that 024 only took just over two weeks it suggests they've done something different this time (even allowing for Christmas), perhaps going for depth or wedging off again? One thing's certain, the second locked cycle for zinc is definitely imminent now.

The premium for quantity is well documented here but so far over the ask for just 6.3K's worth seems extraordinary.

Yes I agree Gam, I said ages ago that although a RNS was unnecessary some social media from the drill site would really help. It went down really well during the summer campaign so I just don't understand their reluctance to do it now. There are theories but I'll leave it at that.

I think we've established that it was unnecessary to announce the resumption of operations, it wouldn't mean anything as it was RNS'd to restart early Jan. Put another way they would have had to have put out a RNS if they hadn't restarted drilling. Best guess is that they will update on 025 completion when they will also be able to indicate the next move.

Don't worry Jagster if they announce a palladium discovery later today you'll have cult status on here! :)

Makes sense Lloydy he mentions the high-grade thrusting shoots where we're open below 1000m at the same time as implying they'd explore east (9th Oct). I know the mine entry would be from the side of the hill but I'm not sure what the economics of mining at that depth would be. Certainly at the moment we're proving the most mineable area rather than going for more eye-catching resource that might sound great but in reality be of less interest to an operating miner on a practical basis, that's for a very good reason (IMO).

To be honest Numpster if I had to place a bet I'd go one more in the inferred zone near to the indicated. As they said this is regarded, as things stand, as the principal mining area so these drills are designed, I believe, to go above and beyond proving we have a mine. I'm just intrigued that LR has described this as scratching the surface of Toral so I also wonder if they will go outside the inferred to the east (as suggested in the Oct presentation) before we pass this on. Maybe this prospect will always remain intriguing but attractive running room for a new operator and go unexplored by us. As always just my amateur guesswork so anyone else with thoughts do wade in.

Grappa this does come up a lot. It's just the platform software making the assumption that it was a sell because you got it below the mid-price. Bestinvest offered you the best price they were quoted which is a good thing. What is not so good is it because there is not much demand for stock today.

On a serious note I have a feeling that they might want to do the op's update only when they have finished 025. The previous drill took just over two weeks so it shouldn't have taken long after the restart. Logically only after 025 will they know where they want to put 026, so perhaps if they have increased confidence sufficiently in the central inferred zone could they be looking to step out where we're open to the East?

Nothing to worry about, they've just stopped for Easter.

As it's quiet, further to my film quiz (which only one person entered, much like the EUZ AGM come to think of it).
https://*******.io/yarn-clip/38cf2120-6bb3-4313-9f4b-9c6e48caa9d0 (add 'getyarn').

I think so Dave, but if it's "You'll never guess what operations have restarted after Christmas", I may not be responsible for my actions!

Day after day, day after day,
We stuck, nor breath nor motion;
As idle as a painted ship
Upon a painted ocean.

STC