Member Info for Shedulike

Sorry that might have sounded like I know something but don't want to share it - just to be clear I don't know anything specific but it sounds like various possibilities are still in play.

Pretty bullish Tweet Mm's. He does seem to be saying that the resource is de-risked though I would argue that process is only complete when all elements of the metallurgy are in. Also from a PI's point of view there is another risk to our holdings which will hang around until we hear that we're funded to fully deliver a PFS. Although I have nothing specific to share I know there are options and I'm optimistic that they're going to deliver.

..... Agreed Bricks & Pete - though to be fair perhaps the most significant takeaway is that they have found 'high grade' resources in what was previously considered low grade in the early years zone. This must make us significantly more investible. Difficult to judge how long it will take to convert the assay returns into a JORC report, it has varied a lot in the past though we know AMS have been hands on this time so as Bricks suggests could be swift.

Cu to be properly investigated - certain posters have been calling for this for years :) Yippy!

Crikey iside you must have a lot of reading time on your hands as you joined LSE late in June, declared your first investment in late July 21 and sell out in late August 21 and yet you have an intimate knowledge of the sentiment here going back five years apparently - "Spot on Don't panic that has been the general consensus for the last 5 years". Perhaps you were researching this for five years before taking the plunge in July and bottling it in August? Do you honestly think anyone who knows my posting history on here over the years thinks that your assertion that I'm KY achieves anything other than reducing your credibility to zero? I'd be interested to know how you think the fact that dilution can't be ignored until the company rules it out is down to me but then since you turned up you overstretch your arguments to try and get a hit - that's why its so simple to tap your block off every time it appears above the parapet. You're right that I often bring up the remaining risks but any sensible investor should spend as much time analysing the downside as the upside, you seem to be the only poster that gets agitated by this, not sure why particularly as you tell us you've sold out.

TPI’s present risk-adjusted, base-case valuation for Europa stands at £16.9m, or 34.5p/share.

Potash under a UK National park with all the problems that would bring or PGM's in the Urals? Both with geographic risk but in very different ways, but as CHRI5P was saying the other day it's the extent of the potential upside that makes the risk, as you weigh it up, worth it or not depending on your own personal appetite for risk. Back to EUZ the risks IMO are unforeseen hydrological issues having to be mitigated, not having the complete picture yet with impurities and of course the fear of dilution that will hang like an albatross around our neck until the Board prove something else is possible. Against that is the prospect of the mother of all slingshots if we can cast off the albatross with a positive funding solution and continue to deal successfully with the operational risks which to date we have done very well.

No problem - not difficult to distract me from work! What are your thoughts Props?

That's the big question Props. Without going back and counting the exact length of our drilling campaigns from memory I reckon this current one is almost as long as all the rest put together since FCR took on the licence. That represents an unprecedented demand on cash, as Bricks correctly pointed out SPI drilling stand to benefit from any revenue from the drill deviation software so I'd expect we're getting a good deal but again who knows what sort of revenue that might generate in the future and what it might mean for the agreed rates. So it's a bit of a guessing game but you can look at past evidence of cash burn - in March 2019 we raised roughly £1m had a much shorter drill campaign and were cap in hand again 6 months later on Sep 30th for another £1m. That doesn't fill me with confidence as to how far £1m goes when we're active with the drill bit but there are other factors. For a number of reasons I'm confident that the finances are in order and we're not going to see a repeat of winter 2020 where the strategy suddenly changed under pressure of funds, personally I think something is in the pipeline but I would :)

LR described it as a partnership when it was announced - but you're right any future revenue from the software goes to "the Innovation Partnership (comprising Europa Metals, the University of Salamanca and SPI)".

No quite agree Bricks although the CDTI is a 'Public Business Entity' our relationship with them is a partnership and in no way a JV, I just wondered with the bigger numbers and use of another intermediate investment vehicle whether the arrangement is slightly different in these cases highlighted by Mm's. Let's hope all becomes a bit clearer this week.

That's interesting Mm's. The CDTI are describing these as JV's (at least google translate is), LR ruled out public / private partnerships during the Q&A in the TP/Vox event. However I wonder if JV is just the translation and that the CDTI isn't actually taking a part ownership of these companies. Reading the rest of the article I couldn't really say either way, "It is implemented through the closed-end collective investment company Innvierte Economía Sostenible SICC S.M.E.".

Hi CHRI5P not sure if you meant to imply that we have over $1b indicated. I think we still only have roughly 22% of the total resource in the indicated category, though it's obvious that much of the current drilling under guidance from AMS is aimed at changing that radically. Sobering though that if were still on ASX that wouldn't be enough (60% required I believe) to allow us to make economic forecasts, in other words as I understand the issues we had with the SS in 2018 we still wouldn't be able to publish a PEA. I do agree with you wholeheartedly that from this ridiculous mcap we have the potential to multi-bag by a factor of 10 and that given the relative mcap's of EUZ & EUA, EUZ for me also has the more enticing balance of risk / reward. Right off to play cricket which is probably a bad idea, so if anyone thinks I've got the above wrong which is possible, I'm not ignoring you I'll look in later.

Ha ha iside you had quite a day of self destructiveness yesterday. Let's see, you started off by criticising folk for "posting 3-4-5 times a day with nothing to say", you then spend your Saturday pointlessly obsessing about me, culminating with the ridiculous accusation that I am KY and making exactly 6 posts - absolutely perfect.

Told you - even more bizarre, such fun! Thought we weren't supposed to mention KY, dam there I go again talking about myself in the third person! Bricks are you suing me as Shed or as KY, it's just that I need to prepare my legal team and frankly it's rather rude that you didn't mention it last time we spoke :) iside you are striking out desperately and in a tailspin of plummeting credibility, the humanitarian in me feels you should stop but I'm feeling mischievous so please continue.

Sorry Mailgirl just checking back on my posts to ensure there was no justification for Highside to suggest that I undermined EUZ with my comments about 'considering' selling 'some' EUA, when I saw your post. You're absolutely correct that it doesn't get much more risky than these tiny explorers but as you suggest we have a lot going for us, even before the PEA our geography eliminated one of the biggies that many others face in volatile jurisdictions, political risk, bad infrastructure etc. I won't dwell on EUA as I know it can be irritating for anyone not in both but I was primarily attracted by PGM's going ballistic and the balance of potential outcomes being the back of the net outright sale with the positive but longer journey of moving to scaled up production, could now be a bit of both so I'm a bit torn about when to exit. As I've said before despite it being less lucrative to date I'm much more fascinated by, and confident in EUZ and believe the rewards could be incredible, I'm not happy about everything and have no hesitancy in bringing up any concerns - as if anything I say could damage our chances of success :) I do think that the pandemic has created optionality that nobody could have dreamt of - this isn't necessarily just about explore, prove, JV or sell anymore. Anyway whatever is in the pipeline I think things will become clearer soon. GLA genuine posters.

Highside also has a very short memory as that poster did engage with KY - most of the posts have gone with KY's threads but 27th Aug 13:36 is an example.

I constantly review and face up to the risks iside as everyone should, but on the balance of reducing risk / growing reward I still believe this to be a worthy investment. If you think nobody should dare to discuss the potential downside then I'm not surprised you bought in badly researched and then bottled it and sold out after a few weeks. Hilarious! I'll never forgive myself for frightening iside out because I kept mentioning funding, I have a feeling this is only going to get more bizarre - will check in later, don't disappoint me now.

"i will sell out Tuesday and i really dont care whether this tanks or not" (iside, 29th Aug).

Ironic.