Member Info for Shedulike

Absolutely nothing price sensitive as you would expect VR94 but he was on the hoof (I think between interviews) so I don't think it would be fair to quote too directly as I wouldn't want to discourage him from keeping these lines of communication open. Suffice to say on the question of "wot no deleterious test results!" it was a technical point about some peers mets that included del tests (shall we from now on?) and he was putting me right that some are actually producers so would be expected to be in possession of much more info on del elements. Hope that makes sense?

Very surprised that we haven't completely recovered sp wise yet. I voiced my concerns about the absent deleterious tests this morning but have been completely satisfied by the explanation given in the interviews and privately. Overall my confidence has been bolstered after today's events, good to see MC put in an appearance as well.

Hope so Apple - looking forward to the audio interview, usually it's subtly less guarded although LR did almost say something about 'using' the results, AS picked up on it and then things got very cautious. Something else I missed from Proactive the first time was it's just 3-4 weeks for the optimised Zinc test, wonder if we'll get the results before the deleterious tests?

I understand where you're coming from B1ll but the mets strategy was always to prove that our resource can be economically exploited and they've delivered results confirming saleable levels of concentrate product. It seems that the decision about deleterious elements testing was taken late which I think has rattled many but it appears that they would have to have applied the tests again in the context of the second phase locked cycle tests so no point doing it twice.

Completely and utterly reassuring, as expected the results were misunderstood this morning, including to an extent by me! Dunces Hat in place.

Bobby these haven't been rushed out at all - for a start WA wouldn't hand over their lab work incomplete because LR was giving them a hurry up due to Q4 ending. These are the complete "Preliminary Metallurgical Testwork Results". WA have advised them which new path of locked cycle will optimise the zinc and that's where they're going. They have chosen to tackle deleterious elements within the next phase of met tests which I guess will give us a more realistic idea of how they are managed because the next model will be nearer the best production case.

I should add as I don't want to sound 'preachy' that I did urge people to look around at other companies before our mets were published to get a feel for what to expect. However I admit I hadn't appreciated that a second phase was inevitable so I got that wrong. Also I would like LR to explain why we have nothing on impurities and by-products as it's normal to have some indications of what we're dealing with at this stage.

Bricks I think it's industry standard that first mets are 'preliminary' but I agree that should have been made clear. Do look at peers and you'll see the first locked cycle is all about establishing a base from which you will learn which path is required to optimise recovery and deal with impurities.

Bricks I understand your frustration and share much of it but looking at other companies you'll see first metallurgical work does routinely lead to further work on an informed path. Note 'initial' in the early Dec RNS. It seems WA have advised a better way to optimise the zinc and they're investigating that, LR mentioned to me a while ago that the first locked cycle gives you a 'base' which is the start of a journey to advance your numbers to an optimum. I admit I hadn't fully appreciated the implications at the time but the good news is we have enough core and are funded for this (confirmed), it was expected.

I agree Gizz as soon as it was apparent that we weren't going to fly people started piling out. The fact that they didn't do it en masse at 8am proves they were not so much motivated by the RNS but watching the market - as you say that's bound to create an emotional reaction. I think we can expect some media today and I hope we get a better understanding of this second phase, looking around this isn't unusual at all but it hasn't helped the perception of EUZ always having one more hurdle to cross.

DJ I can't pretend not to be disappointed that the deleterious elements haven't been addressed in the first phase. It seems to me however that WA have advised a better process to optimise the zinc. Simply then there is no point addressing deleterious elements within a model that is unlikely to be the most commercial. I hope LR will do some media to explain this better.

Fundamentally this is very positive, the bottom line is we now have rubber-stamped "Saleable Levels of Concentrate Product, Toral Pb, Zn & Ag". I hadn't expected that deleterious elements would be dealt with in a second phase so that's annoying to be honest. Overall happy with this milestone and as ever with EUZ I'm sure more will be gleaned throughout the day.

I don't know Lloydy just feeling a bit weary with it all. At this rate I might try to infiltrate the WA Christmas party in Truro, sure to be some loose talk once they crack open the Blue Nun.

Just wrote a load of stuff - realised I've said it all before so spared you - thank me after the mets. GLA investors, Shed

Nothing would surprise me BB but I think someone once made an analogy with O&G where you can discover oodles of gas but if you can't move it then it's worthless. Similar with the mets, fantastic that the JORC proves the existence of a great resource but until we prove the products are marketable then we don't know if the value can be realised. I think that's why there wasn't much sticky money after the JORC but I'm hoping that will change with good mets, I'm really not expecting anything bad but am nervous that there could be elements of uncertainty that might be enough to continue to surpress the SP.

They completed constructing the span early last summer so technically a bridge was complete but it won't be open to traffic until spring 2020 at the last estimate.

Really don’t follow that thinking BB the only way the mets won’t affect the SP is if they’re a mixed bag. Bad and it’s a disaster, good and we’re largely de-risked. By the way dare I ask if our Jonah is back?

Thanks Aradas - hope you enjoy the digging. Osisko Metals had some interesting mets out in August and a close peer in Adriatic Metals also had some results in recently from WA.

Also if you want a cautionary tale on not just listening to posters, someone was pumping ORCP on at least 36 boards yesterday. Currently showing down -25%, do I think it's a bad investment? I don't know I haven't researched it.

Aradas - just do some research on what the purpose of metallurgical testwork is and you'll find all the answers in no time at all. It will mean a lot more to you rather than relying on an unqualified poster like me. Look at peers and their mets and you'll get a feeling for what to expect, what is good and what is bad.