Member Info for Shedulike

Well at least someone likes us.

I was thinking we need to moderate expectations about the copper, mainly because it hasn't been mentioned in the last RNS or the subsequent media. The next drill officially seeks to increase the Pb-Zn-Ag indicated and I'd always envisaged the copper separate from our main play. However reviewing CB's comments in the Final Results I wonder.... "Future exploration outside of the existing resource area would potentially seek to understand if thickening of mineralisation occurs and whether there is a significant copper presence in the deposit from a separate thermal event". Maybe copper is still a factor in the new campaign but they're keeping it downbeat, perhaps the ace up our sleeves, maybe.

Yes I'd rather the speedboat than the ubiquitous crappy Mini Metro, that wouldn't get you far in a puddle let alone a flood. When I was a child we had all the useless British manufactured cars - Mini (style icon but rubbish), Ford Popular, Austin Allegro - I can remember my mother's amazement when we finally bought a foreign car and it worked! a second hand VW Passat. In my opinion that was the main reason that the British car manufacturing industry collapsed, they thought they could get away with making terrible cars for ordinary people while the French, Germans and Japanese had better ideas. It's no coincidence that most of the surviving brands in the UK are building elite cars - typical of this country.

Fair enough Rusty - just one thing my point about the NHS was more about recruitment, my wife tells me fellow EU citizens are leaving in their droves, even bigger problem in the elderly care sector.

I'm starting to wonder if they had a 'Bully Bonus' on Bullseye. Maybe I confused it with the 'Brucey Bonus', I've never felt more embarrassed!

Blimey - nothing like throwing another hand grenade out there C of E!! :) Pointless voting where I live whatever your politics is which is annoying because we should be in Stroud where every vote matters but we got gerrymandered into Cotswold years ago. Brexit is lunacy in my opinion, I know of one manufacturing business that could go under due to the origin of raw materials complications alone, another already in liquidation due to the costs of having to move a warehouse to Bulgaria as they won't be able to get the staff after Brexit. My wife works in the NHS, where do you start on that one? People didn't really vote on those issues - terrible campaign by Remain - they didn't even get the big simple ideas out there like peace in Europe. People just hate Brussells and MEP's and blame the country's problems on it which is understandable. The terrible thing is the economy will contract and guess who that's going to hurt? I'll give you a clue, it won't be Boris Johnson, Nigel Farage of Jacob Rees-Mogg.

I must have missed those profits in early 2019 Herts :) Not sure this drill is targetting the copper but I could be wrong, from the RNS and interviews it feels like they're going to use limited funds to target the lowest risk way of increasing our Pb-Zn-Ag indicated. I forget how he worded it but it sounded as if now we have an existing indicated in the high mineralised zone increasing it should be fairly routine. They have probably concluded that this strategy is the most cost-effective way of turning funds into indicated. Could be wrong as ever but I wonder if the copper may have to remain a 'Bully Bonus' for a potential buyer, just hope it doesn't turn into a "Come and see what you could have won" situation (J. Bowen 1937-2018).

Wish I understood that to Oil, I was going to ask LR for clarification but I think it might be the sort of thing requiring an essay with extensive diagrams and charts!

Yes I agree Oiltap and I admit I'd be absolutely useless at doing interviews but he managed to make it sound that there is only the goodwill of a gentleman's agreement stopping Lundin getting us on the cheap. I can see the logic that they're just not in the real world going to be bothered with orchestrating an exploitative transition but that won't reassure all investors. I'm not overly concerned about this issue but just found it frustrating that he was badly prepared for that question.

I take it back, I hadn't got to the bit about the Lundin question which I thought he made a complete Horlicks of. This needs to be cleared up once and for all.

If you can bear it interview with Justin 'Marvelous Stuff' Waite is on Vox. LR is good though :)

I agree Leslieby I think everyone has been taken aback by the speed of the forthcoming drills. I thought we'd have the Mets completed and if we were to drill again it would be in the New Year. You mentioned the community engagement, well it occurred to me that with Spain having one of the worst unemployment rates in Europe it could be that the various Mayors are indeed supportive but have urged EUZ that their continuing support depends on them getting on with it and finding a way to get this to a mine asap, hence JV suddenly coming onto the radar, remember that mountain has in various phases been poked at since 1975.

.... and the adjusted chart on HL shows 7.61p just before it bombed down to near the placing price incorrectly shown as 2.17p by 19th Dec 2014 after the re-financing measures were announced on the 8th Dec. The prospectus for the '157 for 10 Rights Issue at 5p' wasn't published until Feb 2nd 2015 - I don't think the RI would have been quite so successful if you could buy on the open market at less than half the fund raising offer! I think it's settled then but I hope C of E doesn't feel ganged up on just a misunderstanding :)

Looking forward to the radio interview which is usually more lucid. Just one more thing on "alleviating" dilution, we've always known that if we could only get that indicated then funding becomes a different game, well we've got it now so maybe that's what he was implying.

Interesting little incremental step on the path to saying we're in talks. It's obvious that the passage about sharing the completed phases of the mets with the industry in the RNS allowed him to just go a little bit further than usual on that one. It's a question of when something will be announced, he's talking in the plural so it's not exclusively with Lundin. If there's competition maybe something will come sooner rather than later, as someone said earlier the new round of drilling could force someone's hand. Difficult to decipher but he talked about a "few more things in" to "alleviate dilution", it was wrapped up in talking about costs, could just be semantics but "alleviate" could mean all sorts of things.

Use of Proceeds
The net proceeds from the Fundraising will be primarily utilised towards progressing the workstreams required for a Pre-feasibility Study in respect of the Company's 100% owned Toral lead-zinc-silver project located in the Castilla y León region, northern Spain ("Toral" or the "Toral Project"), following the forthcoming receipt of an updated Mineral Resource Estimate and JORC (2012) technical report for the project. In addition, the net proceeds will provide the Company with the flexibility to undertake new exploratory drilling outside of the currently defined mineralisation along strike and at depth, as well as deploying funds on the important mining engineering components to progress mine planning work. The balance of the funds will provide additional general working capital for the Group.
The Company believes that the work outlined above will enable it to apply to the relevant regional authorities for a full mine development licence for the project in 2020.

Thanks Lloydy - impressive 'lingo', I'll try to digest later. Must get some flippin work done now!

BB you must have known that surely? Someone mentioned earlier LR had indicated he was doing media, anybody know when and where?

In the last round of media after the JORC LR was taking about Jesús Montero's enthusiasm to mine Toral, at the time I took this as a feint but has the truth been staring us in the face all along? Someone else might know the correct lingo to describe this type of arrangement but could there be a JV deal in which Lundin finance EUZ to operate this mine. We know they have a retained interest could we finally be about to find out how this will be exercised practically?

Dave if there was a JV we'd get a blimmin great injection of cash dwarfing our current mkt cap, but yes revenue from actual mining would be a long way off.