Member Info for Shedulike

mfm I agree with most of that except I think Dir buys at this juncture wouldn't be a good look for me, others may feel differently. All the lab work should be in soon and they can start preparing the PFS in cooperation with WAI, at that point a timescale for delivering it should 100% be possible, sure add a caveat about say 'unforeseen pandemic impacts' or similar, but I've had enough of 'in due course'.

Plus we're awaiting the latest metallurgy and ore sorting testwork also to be fed into the PFS. Whether they will RNS before the PFS or we only hear about it when the PFS is published I don't know.

grappa, following the drilling and receipt of the assays we're now waiting for the updated JORC from AMS that will 'form the basis of the PFS' as MC said.

I'm hoping we now do have enough data for the PFS grappa. They mentioned that we were in active consultation with AMS during the campaign so I reckon they gave us the nod when enough core was in with enough grade from the right zones to get sufficient indicated, maybe some measured for the PFS. I agree it wouldn't be encouraging if we could only survive on grants but I thought the REMIX document was very interesting and would only be concerned about EUZ not being included if other projects had been mentioned, we still can't assume anything though. Definitely we need to hear that Conrad or AH have been able to put something constructive together asap.

grappa that was supposed to have a sympathetic tone, I'm feeling it too. On the drilling I noticed this when checking the date of 'VE Day' - "Further drilling is underway at the Toral project to form the basis of a Pre-Feasibility Study", it's as simple as that re. "Digging holes".

grappa the drilling is absolutely essential if we are to deliver a successful PFS. I know the SP is painful but the exploration isn't just an academic exercise. As I said yesterday the market is pricing us down because of the funding uncertainty, we've all got theories about what is or isn't paid for but I think new investors want clarity and some are leaving because of the fear of dilution. LR complains that the good work isn't creating value but we're not getting recognised for de-risking the asset because IMO the ambiguity around our funding position looms larger. If they can deliver a positive solution I think the re-rate will be spectacular but the fact is to date (bar the CDTI deal) they haven't and many are sceptical. Coming up for six months since the 'value event' was hung out there, overdue to say the least.

I would hope most things are open for discussion, but the objection sent to Proyecto Toral by the Sealion Conservation Society was a little zealous IMO.

I don't see any evidence that we're being held up by environmental loopholes anyway. All that work is going on in conjunction with the resource drilling, metallurgy and geotechnical work. The borehole and piezometers are producing ongoing data and are not just to ensure the hydrology doesn't compromise the environment but also to assess potential economic impact of mitigating for instance water ingress to the mine, all relevant to the predicted operating costs. We are not yet in a situation in which the mine plan is good to go but the licence is held up because of a colony of Roman snails.

Hi CJ while it's great news that they're bringing the copper to the fore a little more and considering partnerships to explore it I'm not certain it will be in the next JORC upgrade, maybe one to check with LR that, looking at the RNS I don't think it's entirely clear. As you suggest the work is all good and the resource superb, lazy accusations with the old hackneyed phrase 'lifestyle company' are way off the mark IMO. We all know the familiar problem that holds us back is the question of how much money do we have and how far it will go. I've mentioned before that other participants in the TP / Vox event stated their cash positions, we didn't and I think the market is pricing us on the assumption that it's grim. It's up to the Exec's to change that and we will, I believe, at long last get valued on what we have (a highly de-risked valuable asset) rather than what we don't have (mountains of cash).

It does suggest grant decisions from the Next Generation fund could be some way off. Im still excited about the REMIX document that Mm's dug up though, partly because it was initiated in 2019 but also because it is talking specifically about mining investment in CyL.

Yes I didn't listen in Teaye but that's what the summary says. Thinking about it they wouldn't announce funding for a publicly listed company in this way. EUZ would be informed first allowing them to make the announcement to the market in an RNS first.

Interesting to see our most important product Zinc looking really steady as certain of the the more 'sexy' metals including the PGM's and unfortunately Silver on a bad run.

Mm's I hope the end result of our EU grants applications doesn't turn out to be some free cavity wall insulation for the Ponferrada office :)

Well it's a press conference so something to announce, would we fall under the Ministry of Transparency, Spatial Planning and External Action though?

Teaye there can be any number of reasons someone sold 200,000 today (assuming it was an investor) could even be the Friday buyer seeing an opportunity elsewhere, quite a lot of carnage around today, there is no way of knowing for sure. Best to concentrate on what you can be certain of - your own research and independent reports. I'm very confident here, though I'd like to see some positive funding news and provisional timescales at the earliest opportunity.

Yes definitely a sell that time on Aquis.

I think they were almost certainly buys on the basis that smaller sells were going at 8.5p. Also if the first 100,000 at 8.6 was a sell then I don't believe you could subsequently sell another 200,000 for slightly more (8.65p), unlikely anyway. Makes no odds in the greater scheme of things.

Sure Bricks didn't he say somewhere that AMS were actively guiding them with feedback throughout the campaign? I'd expect the final JORC approx a month after AMS getting the final assays though I note this from MC:
"Throughout the campaign the Europa Metals team has, in house, been updating our resource model as further information has become available. This will enable us to move quickly to commission an independent update to the existing resource estimate. We look forward to releasing such update to the market in due course." Obviously we need the independent JORC not our in-house estimates for the PFS and as ever 'due course' keeps us guessing :)

No problem I've had worse :) I'm probably going a bit easier on them than your interpretation Newbie but I do think that once the data is in then preparing the PFS should have fairly predictable timelines. As I said you can't rule out WA having a lot of cases but that doesn't mean they couldn't say something like 'subject to unforeseen delays we expect......'.

He's been back in and delivered the assays since then grappa, hoping we might get some metallurgy from those phase 1 wedges soon, then the JORC upgrade, then I think they should advise on timings for the PFS as there are less variables at the mercy of Coronavirus. Perhaps it would be reasonable to advise on timings with the caveat that the pandemic could push things back. I suppose we can't rule out WAI the PFS managers losing staff off sick with it but we have flu every year and I don't think it is rational any longer to say they can't give any timings because of it, it will just start looking like convenient fog IMO.