Member Info for Shedulike

It's funny with all these people droning on and on about the mets...... :) we've almost forgotten that we're well into another important drill. A little nod that the bit is on course would be good.

Thanks Verbs I know it's asking a lot for someone to stick their hand up and ask an awkward question when I couldn't make it, so I will be eternally grateful!

Hi Verbs - great anything you can share would be appreciated. If we can clear up this arrangement with interested parties seeing the mets and if the arrangement should be formalised, also with all this mets speculation we have forgotten that we're halfway through an important drill - on track?

Although I thought they'd be out prior to the AGM and have likely been proved wrong I still think the thought process was reasonable. No point going over it all again (sigh of relief all round :) but I would really be grateful if someone can ask if as they've shared the majority of the mets with the industry for at least two weeks, are they now also in possession of the locked cycle testwork and shouldn't this arrangement be formalised by RNS?

Not what I expected I confess, would really appreciate feedback from the AGM all the more now. Thanks in advance to any attendees who can post.

Sorry Bricks I knew it was a regular and did look back but couldn't find the post to reference you. Well this is it, I agree with Shardster that they have the caveat of all of Q4 to deliver this but for me logic suggests they should be ready for today. If not don't panic folks it might indicate something even more intriguing.

I'll be delighted too Shards as long as they're good!! I think a lot of short term folk will be out tomorrow anyway whether that's with their punt not coming off or their 10% safely stashed. I have absolutely no problem with that as long as it doesn't come with a tsunami of disingenuous posting.

Shards I don't know obviously so not nit-picking your theory but the 15th Nov RNS said "On schedule for completion in Q4 2019" not "On course for the end of Q4", there's a difference which could of course just be semantics. For the additional reasons I mentioned before I think they should be done and if they don't turn up tomorrow morning it will be due to another development.

Not entirely Shardster - someone else (apologies forgotten who) posted this yesterday or the day before, from 25th Sep Assays RNS: "Testwork has commenced by Wardell Armstrong LLP on the full core wedge (hole TOD-023D) and ¼ core from TOD-023. Europa Metals has scheduled for this testwork to continue over the next 8 weeks, with the results feeding into the next phase of exploration work and studies and providing potential future product specifications for preliminary marketing discussions with third party concentrate buyers such as smelters and trading houses". Eight weeks from 25th Sep is 20th Nov, two weeks ago the majority were complete and they're on the final phase, I think it's reasonable to expect them tomorrow, if not I reckon something could be up perhaps due to those "Preliminary marketing discussions".

Plagiarism I confess Makesome, wasn't it Monty Python that had a sketch with 'the machine that goes ping'?

Cheers Dave won't go over old ground but if nothing appears tomorrow it will take some explaining at the AGM why the "majority" of the testwork was being shared with the industry two weeks ago and yet the entirety is mysteriously not ready for publication. For what it's worth I have it in my mind about 75% tomorrow 7am, 15% no mets but formal announcement of some sort of exclusivity arrangement and a 10% chance of no mets with fudged explanation at the AGM. I have checked the Falmouth Packet and there have been no reported strikes at WA of Truro, no alien abductions of Cornish metallurgists and nothing to suggest that the locked cycle testwork machine that goes ping needs the fuse changing.

Dave - I've been convinced for ages now that a lot of the bigger money know that they can comfortably get in after the mets which if good massively derisk the project, and still multi-bag. A lot of bigger investors won't care if they have to pay all the way up to 0.1 perhaps even beyond because if the metallurgy rubber stamps the mine economics then valuations over 20x current mcap are realistic. They will still make big money at a fraction of the risk that we have taken.

I think it is still entirely reasonable to expect the mets to have been completed before the AGM, whether we will see them or not is another matter. We know that it was an interactive progress so when the AGM was announced on the 5th Nov for the 28th it looked 100% timed to be after mets. We also know that they had 3 of the four components in two weeks ago and had already shared them with interested parties. Again everything points towards them being finished although I have been unable to find anything to indicate timings on locked cycle testwork, at least nothing I can get my head around!! Personally I think if they're not made public today or tomorrow morning the most pertinent question at the AGM should be are we in exclusive talks. Bobby I think it's right for the Company to provide estimated timings and so far they've been pretty accurate on assays, JORC and from the info gleaned so far the mets as well. Right I'm away from the screen for most of the day now so not ignoring any replies - catch up later!

No, the conversation amongst everyone actually analysing this stock in the build up to mets has been entirely about making incremental progress rather than building up over-excitement and creating a spike. I agree with everything you say BB except the picture you're painting of "BB hype" amongst LTH's.

If you take that as literally 8 weeks rather than another way of saying two months it means scheduled to Wed 20th Nov. They have already had two weeks to compile the "majority" of the testwork completed into a RNS format, wouldn't have thought it would take long to feed into the locked cycle element. I didn't think they'd release them on the day of the AGM as it might look like grandstanding, oh I don't know what to think anymore - ignore that :)

`Curiouser and curiouser!' cried Alice.

Fair enough Lloydy I agree on the mets - three of the four components in almost two weeks ago but they bought time on releasing them with the wait for the locked cycle testwork. I'm a bit torn over whether to expect them before the AGM or not and which scenario is actually more intriguing. Oh and it was Mr & Mrs Williams of Bournemouth, obviously a shrewd couple as they got out before the big drop! Good of Oil to check in at last. Rocker I'd really appreciate updates from the AGM as I can't make it. Not sure about site visits as I'm hoping things will move quickly now but if this does come off I'll certainly make a pilgrimage to Toral, maybe arrange something then but let's not get ahead of ourselves - kiss of death and all that!

Steady Lloydy I'm sure that's tongue in cheek but the last thing we need is over expectation and another spike. The metallurgy should ensure we get some more institutional money probably under the wire and maybe some more hefty PI's. Anyone remember Mr & Mrs Wotsit from a couple of years ago - wonder if they'll be back?

Don't forget the significance of the reinterpretation of the entire resource model that AMS undertook. I'm not 100% on top of it I admit, but effectively they risked the resource that had already been banked to rework the existing figures and latest assays into a new framework. Again I think someone wanted the JORC absolutely bulletproof.

Bit of new money by the look of it, hopefully if the mets do rubber stamp the viability of our products I really hope we'll have sustainable improvements in the mcap. Inevitably many will be in and out but perhaps some serious investors for the endgame should provide some support.