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This is interesting from LR LinkedIn (Mining) https://www.******.com/mined-zinc-production-poised-for-global-gains-report/
Like this bit - Fitch Solutions predict "Elevated zinc prices relative to historical levels will incentivise investment in new projects, expansions and restarts as the economics of the projects maintain their attractiveness, market analysts maintain". (Dec 24th 2019)

Well they stopped 'mid-December' so that's three weeks Shandy but what's a week here or there amongst friends? :) I can't see the Sp moving up significantly until we start seeing RNS's that aren't simply an invitation for watchers to come back in three months. It's possible the big one could land at any time but probably more likely that a suitor will want to see the deleterious elements ticked off. I understand the reasons for leaving it until after the second zinc locked cycle but it's hardly surprising that postponing it sucked all the positivity out of the preliminary mets. I still think the mcap is absolutely ludicrous but the team just don't seem able to convince the wider market that we're worth multiples of this. Certainly not advocating ramping but it was no coincidence that we had a rally when they issued those interesting videos from the drill site, just creating a bit of a buzz that things are happening, time to get on board etc etc....

Lucky you only buying in the 0.03's mate! Yes the potential for multiples is incredible but I do take comfort that we must have the least rampy Exec's on AIM, the fact that the business seems to be totally industry focused and we have one of the least glitzy websites I've seen since 1996.

Well it would be something to know the drill is turning again Lloydy. I notice our close peer ADT1 is now almost £150m mcap, just shows what a better cash position can do for confidence in a stock. The moment the market recognises that we're positioned for sale that will cease to be a drag. I have to confess the SP is undermining my morale but the potential re-rate is absolutely astonishing.

Fair enough Lloydy but I still think the discount was ridiculous. In retrospect the SP had probably run too far as at the time we only really had visual mineralisation from the drills but to think our resource is now commercial and we still can't overcome the damage just shows how crushing it was. Getting the drill crew back will be a start, the phrase "anticipated to recommence in early January 2020" is perhaps an example of how not to word an RNS. I know it's only a tiny point but so wishy-washy and if you were being really pedantic it suggests they either wouldn't commit to an exact date or weren't sure they'd even bother :)

This new coverage can't come soon enough, I think the main problem is that sentiment is just about rock bottom. To think this went to 0.07 when operationally we were miles behind where we are now. The fact is the last raise in which DB dictated a ludicrous knock-down price has put a millstone around our neck that's going to take some shifting. Equity dilution is a sentiment murderer and when it is done on such bad terms existing PI's feel betrayed and potential new money suspicious of management. The fact that every piece of good news just gets sold into is proof of this I'm afraid. Three independent positive reports and we're languishing down here is just so frustrating. As Bricks pointed out we have NDA's in place and I'm convinced there is certain info from the mets that isn't in the public domain, so Director buys aren't coming to the rescue. Really need to get to work on upbeat newsflow.

Andy okay I'll be honest I'm feeling irritable about the Sp but I don't think I've ever read anything from you with an ounce of analysis or even a reference to what we do, just a running commentary on the SP, pointless.

Didn't MC say the silver gives us "optionality". Just did a quick google and this came up......

noun: optionality
the quality of being available to be chosen but not obligatory.
"these projects provide excellent optionality for our shareholders"

Anyone feeling superstitious?

I think it has to be Lloydy, just wonder if they might throw in a wild car and stick the last one outside the inferred zone?

Good summary Numpter, not sure what folk were expecting to happen in the last two days. I'm hoping while we're waiting for the second cycle on the zinc LR will launch a pr offensive starting with some new coverage. I admit I've changed my tune a bit, previously I was happy that pr would make no difference to the endgame but the SP malaise is getting so tedious and it's creating a vicious cycle in which we can't climb out of the hole created by the equity raises even on great operational progress.

Best to go back through the exhaustive research you've no doubt done on EUZ and make your own mind up.

LR has talked about drilling out to the east so there is always more to prove up. The current campaign has concentrated on an area within the inferred zone just to the west of our indicated. I'm hoping they have decided (or been asked) to focus on the most important zone and that will be it. As I said yesterday I don't think there will be shareholder appetite for another campaign and outright fury if it's done with another knockdown deal with the institutions. With an indicated resource and the silver looking so good perhaps there are other funding methods opening up but I think most PI's want a resolution to this story as soon as is reasonable.

I doubt if you researched the history of official announcements of any plc on any stock exchange since the invention of rotor craft flight you would find a more complex statement relating to a helicopter :)

Who knows but we could do with getting the drilling crew back for a start. I wasn't too impressed with "The drilling of hole TOD-25 is anticipated to recommence in early January 2020", have they not committed to an exact date!!

That would make sense Lloydy. I think there may be one or two things that we're not privy to yet which would certainly preclude that. The phrase "No testing for deleterious elements or by-products has been undertaken for the purposes of the Report" is intriguing. Could be semantics but wouldn't "No testing for deleterious elements or by-products has been undertaken" suffice unless there is a grey area?

Thanks B - yes I remember you posting that now. That might exclude any possibility of Dir buys I suppose so perhaps I'll shut up about that?!? Watching Proactive again they come within a "Gnat's Crotchet" of saying they're taking the met results to interested parties so maybe there's more to cracking on with the Zn optimisation before tackling the deleterious elements than meets the eye.

Bricks, MC mentioned 3/4 weeks for the next optimisation results on the zinc on 18th Dec. He later mentions Christmas approaching and returned to the vaguer Q1, but I reckon they'll have news on the 2nd lock cycle in Jan. They also mentioned the 'optionality' that the silver has given them in the Proactive interview and I'm taking that to mean funding. Finally could you point me to where the NDA's was mentioned?

Thanks Bricks let's see if he updates early in the New Year. Shandy I'm not sure we'll get a statement that it's officially up for sale, I'm hoping that will be going on in the background on an ongoing basis. I really believe we deserve some more clarity though, in the last presentation LR talked about extensional drilling at depth and to the east but we seem to be on a much more conservative path 'increasing confidence' in the 'existing inferred zone'. I take this as a positive use of cash as it suggests we're packaging up our core asset to be as de-risked as possible, possibly leaving the extended prospects as running room for a buyer.

Well I am 10bT but I think that strategy needs to be communicated more clearly by EUZ. Not expecting them to claim we're worth x, y or z or that a sale is a certainty just lay down clearly what the pathway is. At the moment there is a pattern that after each operational milestone there is just another work programme to overcome. That can't go on forever and pretty soon investors will want this disposed of even if the value isn't optimised - it's time for the Non-Exec's to represent the shareholders interests more firmly to LR and MC. We need assurances that their natural curiosity as geologists and comfortable remuneration from our equity dilution mustn't tempt them into endless exploration at Toral at our expense. This needs to be positioned to pass the baton on soon.

Hope so Lloydy. Will be interesting to see if they deliver the second phase locked cycle test before the deleterious testing as MC seemed to indicate in one of the interviews that it wouldn't take that long. I'd like some more information about the current drilling programme and perhaps some sort of statement with a strategy showing a clear pathway to a possible sale with funding reassurances. I don't want anything rampy but I think they are perhaps over-cautious in official statements. Broken record time again but we keep hearing that LR is fuming about the SP and believes it to be farcical - well there is a very simple way to communicate that and show confidence in the company simultaneously.