Member Info for Shedulike

Mm's I feel that the time for any suitor to put there money where their mouth is is long overdue. We delivered first indicated in Oct 2019 and have twice increased it since. A new JORC could be late 22 or next year particularly if there is a third drill in the 'set' and a bigger player will have their own in-house 'Competent Persons' that will have a pretty accurate idea of what the data from 041 and soon 042 will do to the indicated. We've de-risked the metallurgy, completed the hydrology and delivered the requested geotech drilling - if someone is genuinely in talks with us then to say we're not moving until you complete yet another work programme would, I think look deliberately injurious. So really it comes down to whether you have faith that a larger player wouldn't want the industry reputational damage of shafting a junior or as some have suggested why not wait until EUZ expires and then snaffle up the remains. Personally I don't have complete faith in hoping for 100% gentlemanly conduct but do believe that if there is a big boy in the data room they'll want an orderly transaction, really for what it is likely to cost to get a piece of Toral why would they even bother with the risk and hassle of trying to get it in a hostile way? On top of that the Junta would ultimately have to authorise the restructuring of the license ownership so perhaps some protection there also.

I don't think that's an inevitability DW by any means, but if there's going to be a good outcome it needs to happen soon for sure. When they raised last October they estimated that the gross proceeds of £1.5m funded planned works and gave us 12 months of general working capital. Inflation and a weak £ won't have helped with that but since then we've had the salary cuts, LR's gone and three students financed by the CDTI money have moved on before we've received the final tranche. I'm not sure how costly the Covid delays with the rig will have been, I'd imagine we still have to pay for it even if not operational due to isolations unless SPI as innovation partners gave us a break. So putting the new projects stuff to one side which never made any sense to me unless as part of a deal or after a transaction on Toral the one bit of clear strategy I did like was the intention to seek "a partial sale/earn-in/JV or similar third party agreement for the Toral Project". So I reckon our success or failure rests on whether firstly that has been possible and secondly if it turns out to deliver shareholder value, any deal isn't necessarily a good deal, I wonder if I can think of an example?

So Myles can't tell us if we're stuffed or in clover out of respect for the Queen? On another tack it would be nice to know if our deepest drill has been completed successfully or not, 280m over a month ago and on double shifts, surely they've done it by now? I know the assays won't be back but it would at least be reassuring to know that it has intersected the heightened mineralisation at the expected depth.

I think if you piece together the Linkedin stuff, the advancement of works on all fronts, not just drilling but the practical geotech re. positioning of plant it looks like somebody is interested in a mining / renewables partnership. Another hugely depressing retrace though and practically zero effort from the Board to promote the story (beyond duty bound RNS info) so as yet new investors aren't buying in. At least it doesn't look like a pump for a placing and I can't see a motive for MC to give DB and B a bargain below basement hyper subterranean offer (if there is an alternative). Could Lundin come back with their energy arm Orrön who are looking for European renewable projects? Would seem the neatest solution given that they retain rights to the project. I haven't got any evidence for this just floating ideas but I think we'll hear soon as I can't see the final CDTI payment going far.

Good article, I'll be a lot happier when we see something that actually mentions Europa Metals but I'm in no doubt that a deal is possible, my money is on a green mine with bolt on energy projects. It was mentioned yonks ago that Toral could be more than just a mine so hopefully there's some substance to the clues on Linkedin. I do have concerns about us getting a good deal but logically it's not in DB's, Bennelong or the Directors interests not to get value for their shares so they should be aligned with PI's. However until we hear otherwise I do have lingering concerns that a bargain basement placing to give the institutions rock bottom averages while delivering the PFS could yet be a tempter for MC but with a nod to Mm's article I think the Junta will want this pushed on and that means someone coming in with the financial muscle to make construction possible. I also think grants are still in play but more likely to come in conjunction with, or after private finance makes development realistic.

Really interesting article Mm's, “Everything that is to be found in the European soil, we must look for it and exploit it,” said French Ecological Minister Barbara Pompili. It mentions the long lead that is inevitable with mining projects but so much has already been done at Toral, as I said the other day 41K's of drilling before we even started to pull the scale, economics and environmental reports together.

Makes no sense to me either Grappa but the fact is we have had a good RNS. Why Myles doesn't want to publicise this good news we can only guess, even if it makes no odds to the endgame it would serve concerned PI's better to see some positive media out there. Looks like the CDTI program is over or near as since three of the students working on it have moved on so perhaps the third tranche of the soft loan is due soon. That's not going to get us a PFS but it is obviously in everyone's interests for the enterprise to be successful not least the CDTI so I'm optimistic that all parties should pull the same way and there is a mechanism being worked on to move this forward.

Jedster fair comment but it's probably a Nomad thing - the assays prove the grades but until they are independently inputed into a new JORC we can't shout too much about about having a bigger resource. Look at the cross section diagram and it shows that 041 has hit mineralisation consistent with our indicated areas on either side, we have more indicated IMO but more importantly the modelling of the block model is strengthened yet again.

Quite Mm's commodity security never more salient. CJ don't forget that in addition to our own investment we also inherited 41,000m of drilling, imagine what that would have cost. An immense investment has been sunk into Toral but we're the first incumbent to reinterpret all that data into an indicated resource. The metallurgy and ore sorting prove we have a viable mine pretty much from the decline ramp but the evidence of this thickening high grade area at depth is really encouraging. We don't need the copper to have a mine here but if the deeper drill does support the theory of copper feeders then certainly a massive bonus, I don't believe it is prolific enough throughout years 1-12 to make extraction economic on current evidence. Interesting that they have reported drill assays individually rather than post campaign for the first time though not sure what to read into that. Also just noticed a bit of a howler on the Linkedin site unless Bricks has finally got his gold in the bag.

Oh dear, rather childish, why don't you try to explain your own reasons for still being here, I have explained myself with reference to the independent technical reports on our asset. If they were telling me there isn't an economic case for mining this then I'd be out as I said. There are still issues to overcome not least funding as I've squared up to numerous times in my posts, that fact alone completely discredits your 'denial' comment. Anyway I'm sure you'll be back with another unsubstantiated accusation so I look forward to reading an explanation for your years of investing in EUZ and all those top ups we heard about along the way, should be interesting. I'll be looking back in on Monday so you have plenty of time to think of something better than "I'm so far down..........", bye!

Rubbish, I've take a loss before in other stocks because the balance of risk reward didn't appear to be in my favour. In EUZ that isn't the case IMO. I don't know for certain we will get success but I'm still here because of the technical reports not for a spin of a coin or FOMO. Speak for yourself.

EUA still has a £157m mcap with the risk that sanctions may one day catch up with it. POG has gone under despite recently being a FTSE 250 company because they couldn't service their debt in Russia. EUZ is currently a £3m mcap company in a safe jurisdiction. We aren't producing but have a proven methodology to mine the resource. I think that will be worth a lot to someone. Am I 100% confident we won't place again? No I confess I am not but I think Toral presents a great opportunity for someone to take a part ownership of a critical metal and strategic asset. On the copper yes we will find it as we always do, if it is commercial at depth it will be massive. We proved last year with the shallow drills and ore sorting that there are economic grades in the early years previously thought to be waste. If there are decent levels of copper at the bottom of a profitable PB, Zn, Ag asset what's not to like? I much prefer the balance of risk / reward here to Russian plays despite the more se*y platinum group metals which unfortunately are under Russian soil. I do still hold a bit of EUA as it's a cynical world and despite the criminal invasion of Ukraine the world needs what EUA have so not writing off the bit I kept just yet. Finally I often get portrayed as a flag waver for EUZ but there's a lot I'm not happy about, past mistakes, the doubtful judiciousness of flagging new projects when we are cash strapped, I could go on. But having weighed everything up and deciding there is still potential for a good outcome I'm still in and adding, if I didn't believe I'd be gone whatever the loss.

Well the actual bid achieved by todays seller has risen by 0.01p on yesterday so the right direction but not hammer time yet (they were very silly trousers anyway).

Indeed grappa, I still haven't given up on Gloucestershire winning the County Championship :)

Thought we might kick on a bit today - oh well 3 buys to 1 sell (though the sell was the biggest trade) - baby steps maybe....

Mm's they were accrued remuneration shares calculated over the period from the wage deferral announcement in January. Nobody can be certain what is prompting this slight increase in volume but I don't think it's down to them getting their salary settled with shares. Anyone who has actually researched it may be more impressed with the years of de-risking, increase in resource and extensive running room on the asset. It's all in the WHI research for anyone new and yes they mention the dreaded equity markets - find a better funding solution and this will go ballistic.

Mm's yes our deepest drill I believe, it would represent a huge technical achievement and if it supports the evidence that grades increase with depth and maybe the theory that the copper feeders get more interesting down there then perhaps a game changer. I understand all the negativity that surrounds this stock but I do think it has created a lot of fog that masks what has been achieved. The problem for us is that as things stand the success looks like delivering an important asset for Spain, no doubt some industry kudos for MC but as yet nothing for shareholders. It's Myles duty to change that, IMO he has the ammunition in the form of a largely de-risked asset with all the advantages of location to accomplish that but we're in his hands.

Something seems to be building CHRI5P, bit of a move on JSE on Monday, again on low volume, Bank Holiday there yesterday but might be worth keeping an eye on that today.

4p paid?

Maybe Bricks, I don't know, but Myles' and Evan's conversion shares are pretty much in profit already (funny old world isn't it....) so what his motivation for devaluing them straight away would be I don't know either. We don't have a PFS but Myles always said the metallurgy would gives us non-dilutive optionality, well I confess I didn't know there would be multiple phases to complete it when he first said that but we're here now and I guess we'll soon going to find out if those words were hollow or not.