Member Info for Shedulike

Come off it Mac, I'm a holder here and hopeful of a great outcome but do you honestly think that the heightened geopolitical risks don't apply to EUA simply because we aren't in danger from stray mortar fire?

Hope so Bricks even if it's just drilling commencement to prove op's are progressing as normal. I hope SPI aren't tied up with Emerita, time isn't on our side. One thing I forgot to confirm with Myles was whether the next set of drills are sufficient to constitute the "Stage 2 work", which would release the final CDTI tranche of €144,792.37.

Props has cracked! :) If Bennelong came with a plan could someone let them know it would be nice to hear it.

I suppose cunningly Myles might appoint someone who isn't about to sack him :) Not sure how attractive the wages will be though. I really thought we'd have heard something by now, must be safe to assume that whatever happened with Laurence it wasn't planned as this is hardly a seamless transition. I have to admit to feeling very concerned about matters.

Interesting insight into Boris Johnson's character, yes it's in the Guardian but written by Max Hastings once editor of the Daily Telegraph :
https://www.theguardian.com/commentisfree/2019/jun/24/boris-johnson-prime-minister-tory-party-britain

Heaven knows if this has been discussed looking at the number of posts so apologies in advance etc.... but does anyone know whether due to the PGM assets being parcelled up into a separate subsidiary (Kola Mining LLC) if they're sold then the transaction constitutes a complete company sale? Not certain myself but in theory would that mean that shareholders don't get a dividend but a distribution? Seem to remember hearing that this would have positive tax implications and would explain why the Board are doing it this way.

Trip to the quarry and LR's leaving do Mm's...... hang on could they have been the same event? Policía!!

No probs. Only that the resource and geotechnical drilling would start soon, that was on the 4th. I assume they'll announce it when the rig arrives as usual. Could do with a positive update.

"Hysterical media" - they are just reporting what our idiot leaders our saying. The "Whiff of Munich" comment from Ben Wallace was utter madness, couldn't have been more insensitive and provocative to the Russians who suffered terribly at the hands of the Nazis.

Mm's not certain if you misunderstood me or not but I didn't mean operational strategy. I've already been told the drills are going ahead as planned, I really want a better understanding of how Bennelong can help corporately. The most pressing question being how can we finance a PFS then DFS?

It does appear that their modus operandi is to be active investors and certainly EUZ presents (unfortunately) a whopping turnaround opportunity. My question to Myles would be as Bennelong have been around for a few months now and we're yet to hear what they believe they can bring will they be pulling strings in the background or actually come forward with a public strategy?

Let's not forget CB was CH at the time of the SS errors. Thinking back I remember thinking the market had massively over reacted to what were far from unassailable mistakes. However with hindsight it created a domino affect of equity raises on punitively worse and worse (bar 1 I think) terms. Yes he wasn't CEO but he obviously wasn't keeping an eye on his less experienced charges. Saying that I always thought CB would be the deal maker and although we'll probably never know what happened I'd rather he had been at the centre of transaction negations rather than AH.

That got me thinking, assuming LR's departure wasn't planned, which looks increasingly likely, wouldn't the obvious solution be for Myles to take over perhaps as interim CEO and EK become CH at least until the masterplan is unveiled. Sorry did I just say masterplan?

Grappa I wouldn't have thought Virico takes up too much of Myles time, it's just his own company which he is paid through, I guess so he can pay Corp Tax rather than Y Tax on his EUZ salary but obviously I don't know his motives for certain. In the EUZ accounts it is referred to as a consultancy, Companies House have the nature of business as "Support activities for other mining and quarrying". I suppose we can only guess how much time he dedicates to Katoro as a NED, how much time do you think EK spends actually working for EUZ? :)

Hi (Re. 3) that's want I meant by 'perplexing'. I'm leaning towards a difference of opinion in terms of strategy with Myles and the others or if there's anything in this UFO thing then maybe he was facing a demotion after a shake up. I think he is a proud man and wouldn't have accepted that. Having said that if that was the plan then why are we still in this hiatus?

Thanks Grappa, interesting thoughts. I agree that LR's leaving is perplexing, surely if it was his own decision then he wouldn't have taken it lightly. On your number 1) I agree in that I haven't had a decent explanation of how we are to acquire assets without a JV, farm in or sale of Toral, on 2) I simply think they wouldn't ever divulge anything about a negotiation made under NDA, names or no names. It's my opinion that any information could put us at a competitive disadvantage in negotiations with any current or future groups. 4) Not impossible but I have to say the strong likelihood is that their due diligence would have been carried out in full before investing. If something has cropped up, say in the metallurgy since they invested then that would have to be made known to the market in good time.

.... is it just the failed transaction, or have you seen something in the data that you don't like?

Can't agree with that Grappa - opinion - counter opinion - debate etc. Nobody is ganging up on Highside but strong opinions will be expressed. When Highside has expressed forcible opinions at me I've never bleated about being 'shouted down' and that poster has had plenty of allies over the years. In fact I really don't understand how anyone can feel shouted down on a public bulletin board, to try to do so would be futile. So I think "Wolf pack mentality" is wide of the mark. I agree with you that we need an update asap. May I ask what is it about Toral the asset that you have come to doubt?

Oh for goodness sake Highside what a bunch of tripe. I can only speak for myself but just because you like to cast yourself as the most negative poster on here doesn't mean you have a monopoly on criticising the company, I have frequently been critical particularly since the now notorious 'value event' comment. Come to think of it I remember you berating me in the summer for posting about funding concerns and even accused my of having a dual handle for deramping, "Kong" something or other, so your stance is not always as consistent as you present it now. On balance I think the asset could yet save us and I admire how LR & MC have progressed the de-risking process but like everyone I'm totally deflated about the mcap. Nobody (as far as I can tell) is under any allusions about the corporate failings so you're completely wrong to imply some posters are trying to cover up for them or unwilling to face up to the problems. Your ultra negative narrative has run for years alongside regular news about your top ups so I guess you are as disappointed as anyone about the current position but if you're trying to feel better about matters by claiming some kind of victory of sentiment then I think you're looking in the wrong place for deliverance.

Thanks CJ a very welcome intervention.