Member Info for Shedulike

Well they've had the samples for almost two months now so I'd imagine the mets can't be far off. I was intrigued that LR mentioned that the process is interactive with WA so I guess he must be aware of some of the results already. It's going to be another massive step on the road to viability at Torral - will the market wake up to it this time?

Prosperity Capital Management Limited - they are new to the register as far as I can tell so can only be good news. We also had the Director buys in June just under 10p. Clearly those in the know expect this to press on beyond these levels. Just don't understand why Polygon are still short, perhaps when they close it will be the trigger.

No probs Bricks - the board can be a bit trying at times recently but it's good when you can have a proper discussion. LR has alluded to the point about an orderly transaction before but I couldn't tell you which interview it was. He used to talk a lot more openly about these things but I noticed he was mega cautious in the media yesterday, guess things are getting more serious. I found the audio one more enlightening as he seems to be more fluent on the radio! No offence LR :)

BricksSA - hostiles usually happen with two entities of similar size where the target resists takeover. I believe a big player just wouldn't be bothered with messing about in this manner with a junior explorer. They're quite happy to sit back, let us carry all the risk and take it on in orderly manner when the risk /reward balances in their favour. The increased value of EUZ when that time comes will be of no consequence if they can acquire a value-adding, de-risked asset into their portfolio. Obviously just my opinion, if there is evidence of someone making a move on the open market after the Mets I'll happily back pedal!

I also don't think it would be a hostile for the reasons I outlined yesterday. The knockers here will continue to relentlessly hammer sentiment obviously without referencing the hugely successful drilling campaign. I won't pretend the last raise disappointed me but with our first indicated resource and funding to increase it while moving closer to a mine plan, financing becomes a totally different game.

That's true CF73, if the politics of FRR's position are being conducted on this level then TT is redundant. As ever with FRR it's a conundrum, surely if Zaza gave a flying f about his shareholders he would want to keep lines of communication open. I've all but written this off so sorry to any of the dwindling pool of believers but when things look bad on AIM they're usually worse than you could possibly imagine. Put it this way if ZM & SN have been acting in shareholders interests for the last 12 months this will be the stuff of Hollywood but in my line of work I know that truth is frequently stranger than fiction...

Ta Gipps - yes wishful thinking we were never going to move the majority to indicated but this is a big step in de-risking Toral. Not pointing the finger at you but I think there is a wider misunderstanding about what we're trying to achieve here.

Gipps you might be right on that figure and I understand your feelings but our Exec Dir is not thinking what he can do for share price on a day to day basis but what our endgame value will be. The raise price sticks in my craw as well but if it means we can build on this indicated resource even bringing in the copper then it will have been worth it. Bad news if you had a mid-range get out target but not if you're here until take out. It also insulates us against the need to accept unreasonable offers, we have the leverage to hold off and make ourselves more valuable.

one 'x' (shock horror) :)

I've seen some baffling 'sell on news' days in this market but today has been the most bizarre by far. I guess hard facts and independent empirical evidence just isn't se*y on AIM - get some Twitter rumours going and we'd probably be flying. LR wouldn't be drawn on 'strategic investors' and I guess that's a turn off for folk who trade on sentiment rather than figures.
* No I'm not a prude but I did have a post deleted for using that word believe it or not!

I did think about airing my theories but thought I'd spare everyone :)

No

I know Oil, it's absolutely ludicrous but if you need an illustration of how sentiment can overpower rationality in the market look at the comments we had earlier wailing that EUA was flying while we were a mere 25% up!! To be honest I thought we'd spike up today and then settle to just above 0.04, it all makes no difference to the endgame but I'd have preferred a bit of feelgood in the meantime.

I think the ghosts of the DB maneuvers are haunting us today. Very sad as the new JORC was a fantastic result but the market is proving very unforgiving. I still think we'll finish moderately higher and build to Mets but the power of sentiment over hard facts is winning the day for now.

See EUZ 'Live RNS'.

Who's turn is it?

Well said Bricks I honestly think some people are that daft that the similar ticker is adding to the sense that there's a connection :) If you hold here as an investor you have been delivered some absolutely superb news this morning - sit back and relax as your investment has taken a big step towards being de-risked. A steady sustainable rise is what we need as we build towards the mets.

I'm just hoping we get a steady sustainable rise which is more healthy for LTH's. Looking forward to broker updates later in the day (BH had us at almost double this when indicated wasn't a given). Also some media coming later which should provide some colour.

Ha ha yes the similar ticker should cause no end of confusion! On a serious note I infinitely prefer our jurisdiction. Will be interesting to see the broker flashnotes later, I would expect cautious targets to go over 0.1

No we will definitely consolidate at higher levels, with the significance of moving from inferred to indicated. I'm hoping some media later in the day will also encourage some new money. I would caution at expecting too much today just want to see some solid support rather than a rollercoaster. This is interesting towards the end of the RNS "Metallurgical testwork by Wardell Armstrong LLP is progressing in line with management's expectations". Speculation but that suggests they are receiving ongoing feedback.