Member Info for Shedulike

Elzis, they haven't sold it for nothing. They have sold it for exposure to Denarius' entire portfolio including imminent gold production in Columbia. Revenue at Toral is a long way off and there is no guarantee that even with a PFS it will be funded, though for the record I believe Toral will be a mine eventually. It's a tricky turn of events to get our heads around but if events at Zancudo go to plan then we could be sitting pretty, as ever there is risk - a natural disaster could put the Columbian gold back two years and then what are our shares worth? Overall I am reassured that Denarius have given us a collegiate but certainly not generous deal being that there is no cash element.

Sure guess we'll have to wait and see - certainly quite inspiring mugging up on Zancudo, I think the shares will be worth a lot more soon. Anyway for now I'm more worried about attending children's football in a maelstrom!

CHRI5P - I don't think we'll spend a penny on exploration of what is underground at Tynagh until they have revenue from the highest grade tailings. We'll have to wait and see but my best guess is that the Denarius shares will be collateral against an investment from a third party. What I want to see is a clear programme of development showing that the investment is of a realistic scale to get a tailing processing facility built and running. For now though my attention is on Zancudo and although I'm disappointed that our ownership of Toral (though not interest in) is over, it is quite refreshing to have an interest in a project that is actually about to produce revenue. The arrangement with Denarius suits them as their RNS indicates they don't want to be tied to our timescales, obviously they are concentrating on developing their more advanced projects and Toral will probably be on the back burner for now so not great for the jurisdiction. So all in all I'm not hiding my disappointment that we couldn't see matters out at Toral but we seem to have a mechanism to move forward to create a cashflow that in current capital markets is now the better strategy.

"Shame on those who shouted down those who could see where this was going". How can you shout someone down on a bulletin board, nothing can stop you replying? Also you were always announcing your top ups either as BB or HS, most recently a genius top up apparently on the morning before the announcement of the Denarius deal at midday..... yes apparently...., then after saying for years that you were too far down to bother selling up you finally think it was worth bothering after a further slide to 3- 3.5p, not really the actions of someone who always knew what would happen. If you did actually sell at that point then I congratulate you for finally following your sentiments but declaring a top up is more of an endorsement than just moaning about everything for years is a great foresight of doom. Anyway it's no secret that my expectation was for a better ending to our ownership of Toral, so enjoy that but neither I nor any other positive poster have anything to be ashamed about, all investors are adults and shouldn't be swayed by bulletin board opinion. Hang on are you blaming me for you not being able to bring yourself to sell up at 25 - 20 -15 -10p? Also I often mentioned the high risk of junior exploration and that the worst case scenario was to lose all. So moving onto this supposed 'endgame' well the thing is, it isn't for the company. I'm not commenting much on Viridian as there are too many unknowns until we know about the financing but we leave with exposure to imminent gold production and more advanced lead gold, silver copper projects.

Mm's, certainly not the way I wanted our ownership of Toral to end but our stake in Denarius does give us some intriguing ongoing exposure to their other projects and of course Toral itself. Iacono is a serious player as his track record with Aris demonstrates. Zancudo will be producing gold soon and the southern Spain projects, particularly Lomero look superb. I'm reserving judgement until we have details of the mechanism of acquiring Tynagh as only then will we know the ongoing significance of the Denarius stake (ie. Is it insulated from the Viridian transaction) but if we've swopped our stake in Toral for an unglamorous but near term revenue stream in Ire Rep plus equity in imminent gold production in Columbia then events don't look too bad to me.

I think to evaluate the deal everyone needs to take time to analyse what Denarius have. By my calculations the 7m shares give us 8.5% of Denarius' projects, obviously including Toral. Denarius have had a series of fund raising mechanisms to bring the Zancudo gold Project to production within a year so we've come in on the right side of that process. So unless I've got my numbers wrong we could have 8.5% of a producing gold mine in the near term, exposure to Denarius' Southern Spain assets which are more advanced than Toral and of course the potentially enlarged Toral licence. That portfolio makes Tynagh look like a side show though I'm concerned at how we are to fund that acquisition.

Mm's we were worth more than that before we had an indicated resource and metallurgy. Yes we're on a path to relinquish half the asset (eventually 80%), but it will be worth multiples providing PFS work goes well. We might have another mine soon as well. Something I missed at the time is that if Denarius only complete Option 1 they have to return 2% to us, I assume to insure we get the controlling interest back if they can't go through with Option 2. In that event we would have 51% and Denarius 49%, just thought that was an interesting detail.

Maybe something to help on that front 'soon'?

https://www.linkedin.com/company/europa-metals-ltd/posts/?feedView=all

Bit tired of cryptic Linkedin posts though - we deserve (if not are entitled to) some basic levels of public communication.

Hi Newbie - yes I'm still here. ............ just wrote an assay on the current situation but a combo of legals that I can ill afford to back up plus just not wanting to add grist to the mill / fear of encouraging false dawns / unwarranted conspiracies etc etc I scrubbed it. Just to say mixed feelings but the only logic in the mcap that I can see is whether the environmental reports would be rejected. That doesn't seem to have happened.

"In that sense, the general director of Minas, admitted that he wants to speed up the processing processes and, specifically, on the Europa Metals project, which wants to exploit lead, zinc and silver in Toral de los Vados, he said that it has gone out to public information and that its environmental impact is being analyzed. "What is intended is that opportunities can be put into exploitation in more reasonable times," he explained.

I think the resource could be significantly increased - can't remember where I heard it but I believe Denarius had two rigs going on a 24hr shift so hopefully it will more than the incremental steps forward that we're used to. Whether it has all been infill or could they have stepped out east and had a poke below 2000m will be very interesting to see.

When the Denarius deal was signed existing institutional investors but perhaps more importantly 'new investors' supported the company with a placing at 4.5p which was a 61% premium to the SP. So between the original announcement and the signing, fresh money looked at the deal and decided there was money to be made at 4.5p. I guess they can't be happy that this has drifted while the Directors have made virtually no effort to promote the company. I think either MC or DS have to be put up for re-election at the AGM (EK having scraped through last year), surely one of those two will be toast if they don't communicate soon.

Mm's just my opinion but I don't think the ML is imminent. My best guess is we'll have a resource update and new PEA before that. With reference to CHRI5P comment on the NPV when you think what has happened since the 2020 PEA - doubling the indicated, complete metallurgy, complete hydrology, environmental studies etc the metrics should be hugely enhanced.

CHRI5P - as I understand it the MLA will take a lot longer. I am however hoping for a resource update, new PEA, Antonina IP decision so there are (hopefully) SP movers on the horizon. Having said that there was the local press article about the General Director of Minas de la Junta wanting to speed permitting up, even directly referencing us so maybe I'm wrong. Logically though there is no pressing need for a ML until the full feasibility studies are completed.

Https://www.diariodeleon.es/bierzo/240617/1558861/mineria-bierzo-acabado-europea-impulsa-explotacion-metales-estrategicos.html

JSR-01 was an appraisal well so the production was arguably something of a bonus. Future development wells should perform better as the data from JSR-01 will inform PII well design, that's the theory anyway! Shame the field development hasn't happened as yet, as Heps noted the other day looks like they want a partner so guess resources weren't there to go alone on it. Right more importantly a cracking afternoon of sport beckons.

Evening Bobbbyrash - some good contributions today from a variety of posters. Not calling you out for one minute as I'm the first to seize on some positivity but one thing I've painfully learned over the years on AIM is to be wary of purely subjective comment such as "Excited by how quickly this project continues to develop". If I had PH's ear I would say define explicitly how advanced the project is and when revenues might be expected? We have a technical study outlining the potential of a CCS project and a MOU with a subsidiary of a big Eastern player but explain to investors where we are in terms of the practicality of implementing the project - so easy to trot out vague thoughts about being excited but potential investors want facts, probably evidenced by the lack of buying all afternoon (though I note Chesh reported some interesting after hours activity).

Wonder if PH will do any media today? Fingers crossed Zak doesn't renew his chart :)

Interesting observations on PII, would like to know what work and data has lead to Block becoming more bullish about it. It does raise questions about comms though, whether rightly or wrongly I had formed the impression that it was completely on the back burner. Sounds like work to date has been funded by PI revenue but they want a partner for development.

Would be interested to have more detail on what "Continued momentum in developing Project(s) II" actually amounts to. As far as I know we haven't had any information on the development of PII unless I've missed something?