Member Info for Shedulike

CHRI5P to be fair most 'long' LTH's couldn't have predicted that they'd make a horlicks of the first SS. I remember thinking the market must have overreacted but I guess either sellers back then got lucky on instinct or experienced investors in this sector correctly predicted that it would put us on the back foot for the inevitable string of equity raises that come part and parcel with explorers without revenue. We also had a promising iron ore asset in SA which got sold for nothing with FCR citing an obstructive regime for business, Bricks might remember more about that. Anyway we are where we are and I'm cautiously optimistic that in the current environment Toral should be exactly the sort of asset being fast tracked for development. I'll be a lot happier when I know for certain that cadmium isn't going to be a problem and in true EUZ fashion it looks like they're going to keep us waiting on that front a while longer.

Bricks has that come from Mining Sense, Jesús' company? Jesús isn't an employee of Europa Metals, I think they use him on a consultancy basis.

Grappa I think it will only be op milestones on the drilling, so 035 complete (hopefully), 036 commenced until assays perhaps 3 months away and JORC maybe 4. Like Highside I think equity raising has run its practical course, we haven't progressed the SP (to put it mildly) but at least we own a valuable asset that we have successfully progressed. Hopefully that means we can bring someone in on reasonable terms with the muscle to put funding to bed once and for all, another puny equity raise will just erode shareholder value yet again without solving anything long term. Let's see if the final mets pave the way for that process to begin. Just my best guess how things should progress.

Hi Teaye I would hope by the time Toral is producing the energy crisis will have settled down. I see Zinc took a tumble from the smelter crisis highs but has now found support, hopefully driven by more stable fundamentals and is trading way above the average used in the Bara report. I can't find anything to quantify how much ore might have been stockpiled as a result but looking at the spot price it doesn't appear that the market is expecting a glut. Bricks I don't remember the last IP being issued as an "exception" but perhaps I've missed something? Personally I believe the current drilling is the last we'll conduct with 100% ownership anyway, once the final metallurgy is announced to the market I think there will be corporate news to follow. Whether it is before the drilling ends I couldn't say but to get the all important resource numbers I reckon it could be another four months at least. Perhaps I'm being optimistic but I think it is the final metallurgy that would present the biggest risk to a major investor, once the optimum recoveries are announced with proof of low smelter penalties it should clear the way. The current resource drilling is much lower risk in terms of the project being viable IMO.

It wasn't so long ago that I remember reading articles suggesting that the traditional industrial metals would miss out on soaring demand from the renewables sector. It doesn't take much digging to find out that to the contrary zinc and lead are much needed in the green energy drive - interesting article here about the potential for a silver shortage now....
https://www.mining.com/vric-metals-scarcity-could-slow-energy-transition/
Seems we've got the right stuff, at the right time and in the right place, surely someone wants a piece of this???

Haha yes wishful thinking maybe :) I think we need to look to the metallurgy first as I can't see the drilling being over for another two months at least, plus another month for assays. Hopefully a deal can be done after the mets as I see the resource drilling presenting less of a risk. The assays would have to be very disappointing to shake confidence in the resource whereas the final unknowns about the metallurgy could yet impact the economics IMO. Certainly make or break this summer and one thing I do agree with Highside about is limping on with another desperate placing doesn't look like a practical solution to our funding issues.

Think it's just you and me left Mm's :) Funnily enough with the SP so dire I'm more optimistic than ever, with commodity security up front and centre for Europe there would have to be something seriously wrong with Toral for it not to be an important strategic asset for Spain. It's not just the Russia tragedy but the psychological knock on effect of the West finally facing up to dangerous situation of being so dependent on China as well. I think it's likely that the final mets will prove a prelude to further announcements about our corporate future.

More likely from an earlier drill IMO Mm's I don't think they'll have reached the main corridor of mineralisation yet though the hanging wall returned some mineralisation before which is higher up.

Good to see more local engagement, I hope they still believe it can improve our chances of game changing help from the Junta. Those coal projects highlighted by Mmn's while not directly related to us, certainly show the appetite for restorative works in the region. I still think we'll get something for the quarries but we need it now rather than years down the line.

For anyone interested this is what we encountered last time we were drilling at 700m +
http://www.rns-pdf.londonstockexchange.com/rns/1097J_1-2019-8-14.pdf
023 took five weeks not four as I think I said before.

You're probably right even if they get the data back from WA in time it will take a while to compile it into an RNS. The other possible RNS coming up is completion of the first drill, hopefully not deviated as the opening shot was when we last went to this depth!

Quite Mm's hopefully this will encourage partners that Toral is a near term prospect. Once we know that we have a clean resource I think the corporate wheels will start turning. End of the month for final metallurgy according to ProyectoToral - wonder if we'll get the customary delay?

In all seriousness I've always thought that the restoration work should be a route to grant money. The problem is we'd be lifting the material to re-landscape the quarries years in the future but we need the money now. Is this anomaly a sticking point or can the authorities assist us now?

Interesting..... "la restauración de espacios", €€€€€€€€€€€€€'s please Junta, we're a tad short at the moment :)

EU making €72b in grants available to assist the move away from Russian energy. Majority will go to green projects. That should help underpin the demand for zinc and perhaps create an opportunity for help with a geothermal project. I certainly expect the grants process to be streamlined given the urgency to free Europe from dependence on Russian fossil fuels.

Well spotted Pothouse, I'd completely missed that on yesterday's RNS. So the suspension was initiated by AIM, whatever their concerns were have been allayed and it's business as usual tomorrow. Disappointed that there is no conclusion to this saga but at least events make more sense now.

More than just a thought. "Geothermal energy, more than a key objective, a necessary and more than viable energy resource in the underground Toral project. Date set for the Geothermal event." I think it's fair to say they're clearly looking into it probably because it will improve our ESG profile if we get to a mining licence application. Whether it could be scaled up beyond powering Toral is in the distant future but there must be huge scope on the licence for this kind of thing. I forget how large the licence is but it's way beyond the block model you see in the resource diagrams.

Difficult to tell Mm's, we know that Toral sits on I think 3 separate councils so we have more than one town hall to satisfy when it comes to permits but they do seem to be talking about multiple activities as well.

New local media interest today:
https://www.diariodeleon.es/articulo/bierzo/europa-metals-acomete-ultima-campana-sondeos-700-metros/202205170335262221382.html
Not much new, just about the only thing I can pick out to suggest they haven't just regurgitated the Proyecto update is this:
"In parallel and complementary to this work, the added activities aimed at the different applications for permits in the field of the different administrations, both of the Junta de Castilla y León and the Central Administration, continue".
Added activities / different permits - could that be more than mining on the theme below or just the vagaries of translation?

It's a bit annoying that if the drilling had started on time we would now be anticipating the end of the programme, as it is we're probably half way through the first hole, a comparable drill (022) took exactly one month. Clearly the primary purpose is to increase the certainty about the resource but they did also say that "Additionally, all holes will be geotechnically evaluated as drilling progresses, providing additional information for the feasibility study process". Whether that could include analysis contributing to a possible bolt on geothermal project is debatable I suppose, certainly appears to be some scope that Toral could be a multifaceted project. Guesswork for now but the clues do seem to be coming from the Spanish office.