Member Info for Shedulike

You might be able to pan some out of the River Sil downstream at Las Médulas Shambol, but I think it's unlikely that the Romans left any behind :)

When you get it wrong and post misleading information about EUZ I will call it out whoever it is so don't take it so personally. If you had been here a bit longer you would also know I have often reflected on the mistakes I made investing here pre-SS and pre-metallurgy so I have a proven track record of taking responsibility for my investment so you won't get me on that either. Anyway I do agree that this is getting a little irksome so by way of an olive branch may I congratulate you on apparently timing your investment in EUZ better than me.

Nice try on the deviated drill but like the drill itself another miss Highside. You say I made a sweeping statement about the deviated drill and have no idea what was gleaned before it was abandoned but again Highside you couldn't be more wrong. The visible mineralisation from 021 in the upper zone was sent for assay despite the deviation in 2019.
From the assay results autumn 2019:
"The first hole drilled in 2019, TOD-021, deviated significantly away from the intended target location and returned no significant mineralised intercepts".
So contrary to your allegation I am fully informed on 021, care to apologise?

Thought you'd say that so sorry already got that covered. I can only assume that if you are of sound mind that on balance you think the likelihood that you will make some money on the funds you have put at risk is greater than the likelihood that you will lose money? Here's one definition - " An investment is an asset or item acquired with the goal of generating income or appreciation". You have invested, sorry if you mistakenly think you haven't.

So Highside you haven't had a good word to say about EUZ since you started posting here culminating with the statement that EUZ couldn't be taken seriously as an investment. You have now invested. Now I'm not naive enough to expect everyone to be posting their opinions honestly but for the record let it be noted that you have started off pretty low down on the integrity scale. Good luck with your investment.

....... for any fellow map nerds out there, I think this is us drilling in Dec 2019.
Scroll out and you get a good view of how the mineralised corridor outcrops on the ridge.
I know cement works aren't for everybody :) but you can see the proximity of the plant plus road, rail and power infrastructure. Cross the N-120 to see the old Antonina mine and some of these quarries mentioned.
https://earth.google.com/web/search/Toral+de+los+Vados,+Spain/@42.52122957,-6.79153517,559.96139478a,229.41713978d,35y,128.39446962h,60.00022906t,0r/data=CoMBGlkSUwokMHhkMzA5N2I0OWNlZDA3NzE6MHg1ZjRiYThmYmNiOTNjZmNkGafQ1EbQRUVAIWndq_tsGRvAKhlUb3JhbCBkZSBsb3MgVmFkb3MsIFNwYWluGAEgASImCiQJ50s_akT9RkAREbygcaj7RkAZTFZHbfjiH0Ah7mdOyW3AH0A

Milnrow if you're talking about a RI I believe it would be much more costly to arrange than a placing but to be honest in my experience on AIM while it is in principle much more equitable to existing shareholders to arrange a RI on the same terms as an institution it's fairly pointless as the SP tends to track back to offer price anyway. Well let's hope they can finally deliver a non-dilutive funding solution, though we should all be mindful that the much vaunted JV would involve asset dilution, in terms of each of our own stake in Toral dilution by another name.

...... which I addressed in my last post in relation to DB, sorry covered that. We have multiple NDA's signed with interested parties who aren't in the data room to flirt with a company that they "Don't take seriously". We aren't going to give up the 100% ownership lightly for anyone whether financiers, JV partners or even you Highside lol.

Okay I see there is a suggestion earlier that this can't fully be taken seriously until we have a FS. I agree that a positive FS will certainly greatly improve the investment case but to say that we can't be taken seriously until then is plain daft. DB took the investment case here seriously when they supported us in two placings. Yes placings are never popular but unless you can convince an institution like that to risk their cash for equity then as a small explorer with no other income we'd have been toast. Remember their first stake went in pre-metallurgy so much higher risk and as wealth protectors they took a % off the table only to later support us again, unpalatable for us PI's but an endorsement nevertheless. Right who else? Well topical today is the CDTI who took us seriously in providing grant / loan money in return for furthering research and educational endeavours. WAI must be taking us seriously by wanting to be PFS managers, yes a service provider but I don't see them wanting to align with an operation that can't be taken seriously particularly at a time when mining service providers are under huge demand. Locally the DG of Mines CyL wouldn't have bothered to drop in unless we could be taken seriously and they certainly wouldn't have renewed the IP. Finally I don't think the UK Govt Department of International Trade would have invited us to the bilateral ‘greening’ mining seminar with the Spanish Government unless they also are taking us seriously. So many authoritative bodies are taking us seriously, I'm given confidence that my investment is aligned with that expert opinion. Lastly I won't dodge the fact that the SP is rubbish and I have thoughts on why that might be on operational level which I have outlined before but if the market was always correct on weighing the value of these high risk explorers there would never be these multi-bag opportunities. I believe the team can pull this off but the decisive news in terms of current shareholder value is yet to emerge - when it does it will be very, very hard to buy these so anyone wanting in will have to shoulder some risk in the meantime or buy very much higher, that's the equation put simply.

New TP Research Note - 34.5p target (obviously). Like this though - "Indeed, the consistent presence of copper, up to 0.5% Cu, so far up in the mineralisation presents opportunity for a future, post-production exploration campaign to enhance the current, LOM, potentially even identifying a separate thermal event within the system hosting copper feeders".

No worries grappa. Jed I don't see this as likely to attract new investors its own, anyone hovering is unlikely to be swung by a possible revenue stream some way down the line but I'm surprised to see you dismissing it as some sort of pen pushing exercise. I suspect you're being tongue in cheek as you must know about the funds it secured for us plus the importance of embedding us in the region, the clarification that we do have rights to potential revenue in partnership with SPI & the Uni is a positive.

Morning grappa - it looks pretty clear in the RNS:
"Any future commercial benefit from an eventual product will be shared by the Innovation Partnership (comprising Europa Metals, the University of Salamanca and SPI)".

Would be interesting to know what a product might be worth should it be completed successfully. Guess it's too early to think about pricing but when TO-21 went doolally in 2019 we had been drilling for a month and wasted 652.90m before the deviation in trajectory was detected.

This is quite interesting as there is a new development here. When the CDTI grant was first announced I asked if there was any potential for any future software to be monetised for EUZ and was told to wait and see what came of the research. I took that as a no and that it would likely be owned 100% by the CDTI as they funded it so it's encouraging to see that we actually could benefit a from a commercial product in the future.

$AUS 1,647,142 I wouldn't describe that as 'just under 2m' personally. We do need some clarity on funds to complete the PFS however as the 'key components' issue hasn't been put to bed in the last year and IMO is why we just can't convert good op's into a progressively building mcap. There you go Highside I've given you a free hit :)

Bricks my thinking is that LR & MC are holding off on signing anything as potential EU cash could change everything. I don't know if we'll get a whopping significant grant, another decent but targeted grant / soft loan or nowt but why would they sign away a portion of that 100% ownership (stressed in the presentation) while there is a chance, depending on scale that we could suddenly be put in a completely different negotiating position with suitors. Milnrow completely agree about zinc, its not getting green revolution headlines but will be in demand with electrification, don't forget it gets slapped on wind turbines, double bubble at sea (I think that's the technical term).

Future of batteries not just about lithium and cobalt.
"Hybrid flow battery type to grow at highest CAGR from 2021 to 2026
The adoption of hybrid flow batteries is increasing at a substantial rate attributed to their benefits, such as high energy density, compact size, and low cost. Zinc-bromine, zinc-cerium, and lead-acid are the most prominent types of hybrid flow battery types. The zinc–bromine hybrid battery offers the highest energy density as compared to other flow batteries. In recent years, several research programs have been conducted in several countries to explore the potential of hybrid flow batteries and build more compact and low-cost systems.
Utilities application to hold the largest growth rate of the flow battery market in 2020.
The utilities application dominated the flow battery market in 2020 and is estimated to remain the same during the forecast period. The adoption of flow batteries is increasing in utilities attributed to the growing need for electrification. Besides, the growing use of renewable energy across grids has, in turn, increased the need for efficient, flexible, and long operating life energy storage solutions. A flow battery, with all its attractive features, has become the most preferred energy storage technology for utility-based storage as large-scale utilities require technologies that can cost-effectively store renewable energy for future grid use at any location".
I also noticed that the YTD chart for lead belies the suggestion that some of the 'un-sexy' metals are missing out on the strong metals markets.

lor I think Director buys are never unwelcome but as ever the situation is a little more nuanced IMO. Let's not forget they took moderate pay cuts in return for options, that is effectively converting cash that they were entitled to into a stake in positive SP progress. I still don't think they're underpaid (though well under AIM averages) given that they haven't delivered sustained value for shareholders yet. Calls for Director buys to show support for the SP is a familiar line on these boards but I remember reading some research that showed if you imitated the actions of Directors across an entire exchange you would have made 1% on your money. I think that might have been on ASX which we're off now of course but it shows (albeit in one study and assuming their methodology was sound) that it isn't a given that Director buys are a guarantee of big success or perhaps beware of gesture buying. It is also known for Directors who heavily invest in their own companies to become heavy sellers so there is a flip side as well. All in all I agree I certainly wouldn't be disappointed to see LR and MC in the market but their generous options do align them with us and I don't necessarily think Directors buying is always proof of anything. I'm satisfied you'll find the proof that the asset is as good as Laurence says it is in the independent assay, metallurgical and JORC reports, the market isn't always logical although I think it is rational that we are marked down to an extent on funding concerns but it will catch up as the pieces come together.

I wouldn't read too much into it antharry, Turner Pope organised it with Vox and probably invited all the miners in their stable to present and Laurence took the opportunity. There was never going to be any price sensitive news released without an RNS beforehand so it's interesting to glean what you can from the tone. The main takeaway on that front for me was LR talking very much in terms of it being a mine rather than potential. It also sounded as if they're not looking for a deal that would provide stop gap funds which I thought might be an option just to ensure we're funded to BFS but I think they want a complete funding solution before letting anyone in, really pushed the 100% ownership and I don't think they want to yield that lightly. I also thought he was very firm in ruling out any prospect of the any government body whether EU, Spanish state or Junta taking over the prospect to the extent that I'm rowing back on my thoughts that a public / private partnership might be a possibility. Think he said any grant or soft loan funding would be to stimulate free private enterprise rather than buy in to the operation. Big positive that grades are exceeding expectations in this early year zone and I think feedback from WAI and AMS is encouraging them to press on, bit disappointed not to hear 'measured' mentioned at any point though.

Well if we've established anything today it's that nobody has to read anything they don't want to so thanks for demonstrating that Whatsthis. If you find it all nonsense you could always try saying something yourself though. By the way LR is doing a presentation this afternoon so the allegation of 'hiding' is a little mistimed.