Member Info for Shedulike

Quite agree Bricks, different things will concern different investors as evidenced today. I trust the team to guide us to the best possible outcome but I don't know what that will be and the fact is they don't know for certain what it is either at this stage. The picture is changing all the time and completely unforeseen opportunities are arising. There is simply no surety what the optimum outcome is so I'm fine with not having a theoretical road map which for me would be meaningless, for others not and that's fine. I do think many investors underestimate the risks that still exist and are perhaps worrying about the wrong things but that's just my opinion. I'm also confident that our superb grades should mitigate the problem of impurities and am happy to hold though I've not added for ages for various reasons.

No I don't think it is too early to invest but I think it is a question of the balance of risk that we are presenting compared to other investment opportunities. My concern over deleterious elements and by-products is that they don't want to square with us which ones have been detected only those that have been dismissed. I'm actually quite surprised that the Nomad has allowed them to do that, it should have been put to bed a long time ago.

But I still don't understand what you actually expect them to say? I could list every possible outcome and point to problems that it might create before we know for certain what the eventual preferred route is. For instance saying we want a complete company sale could alarm the jurisdiction who may prefer to continue to nurture a close relationship with us. Saying they favour a joint venture could undermine AH's work with other investment groups or Conrads negotiations with concentrate buyers. They're keeping all options open and I honestly think to present some kind of road map would not just be a meaningless comfort blanket for PI's but potentially detrimental. None of us were in possession of a clearly defined roadmap to an endgame when we invested so why has it become such a pressing issue now? It won't speed up operations and it won't improve the chances of a good outcome. There are just so many possibilities I'm afraid we're just going to have to live with the uncertainty until they decide what is the best course of action from the opportunities available to us. That day may come tomorrow or not until after the PFS. Finally there is still so much to overcome that I think understandably impatient PI's are putting the cart in front of the horse which brings me to the lack of interest from other institutions that BB mentioned. I think the major disincentive to buy in the retail sector is funding concerns but the institutions that could allay those funding fears don't like the elephant in the room which is impurities. It came up at the analysts event and it wasn't clearly answered. DB were happy to invest pre-metallurgy and take the risk but after plenty of successful metallurgy they still won't tell us which deleterious elements we have and how they will impact smelter economics, that is a potential killer and I believe it is a concern to the institutions. If this worrying it should be because Rubiales had cadmium and mercury, I'm certainly more concerned about that than getting a pointless roadmap.

Grappa the Tweet is about Zinc use in fertiliser from CAML. The snapshot on the EUZ Twitter has selected a detail from another post in their feed or metalsformodernliving, not sure which.

Morning grappa I'm certainly not happy about everything, for instance I think it was unwise to hint at the 'value event' when they were a way off signatures as it turns out. However I don't quite get what is expected from a 'roadmap', what exactly do you expect or want them to say at this stage?

..... Which is one of the reasons I have mixed feelings about calls for a roadmap, yes it would be reassuring to have some clarity on their preferred route but the truth is they're keeping their cards close to their chests for a reason. As things stand we have options, more options than we could have dreamt about twelve months ago and if the PFS is successful with an independent recommendation that the project is economically viable the options and certainly the degree to which each shareholder will benefit from whichever path is taken will also grow. For now the roadmap is that we're working towards completing a PFS, they're just not going to publicly declare that ideally we want a JV for instance when there are other funding options being discussed some of which seem to have evolved from the response to the pandemic. I also think the outcome of current operations could influence what will turn out to be the best pathway forward.

Interesting Bricks we know that the jurisdiction want us to help with restoration of worked out quarries, certainly a picture building of an integrated pathway forward.

Hi Teaye - apparently it hasn't been broadcast as yet but they plan to flag it up when it goes out. Nothing to worry about, the other Apocalypse Now had its challenges in production.

I agree except that I'm certain we can get moving sustainably pre-PFS as long as we have positive funding news. With that the market will start looking forward and assuming the operational work continues to be good I think the gains should be held in anticipation of a successful PFS.

Mm's the Glencore smelter has always been the most likely candidate for our concentrate. We are still yet to establish compatibility though (publicly at least) and as such we still have a couple of question marks around any possible penalties for impurities. I guess this will have to be tackled in the PFS even if there are plans for a new smelter in the region as I would imagine we would have to propose a viable option from a smelter actually in existence!

There does seem to be more stability about the SP even though the mcap is still IMO ridiculous (even pre funding news). Personally I think the stars are definitely aligning both operationally and I hope at last with funding. From the local noises I wouldn't be surprised if the project is fast tracked, at least as much as is practically possible. I do have a slight concern that as the authorities start to eye our resources with increasing interest that the shareholders aren't forgotten in all the excitement. To be honest I can't quite put my finger on what it is that's worrying me, perhaps just that general perception that there might be that we have our noses in the trough of their minerals. Hopefully the Spanish team will emphasise that being an EUZ shareholder has been anything but a gravy train and without us the resource would not be proven to this point where it is looking more and more exploitable for everyone's interests.

Yes very interesting steven, we have the Mayors saying they want our metals used within the region as well. That just isn't how supply chains normally work but these are extraordinary times and we are seeing companies like Tesla moving to secure their raw materials directly. I read something this morning on Mining.com about copper porphyry deposits being almost exhausted. Smaller copper deposits like Toral could become.... well.... gold mines :)

No probs Jed while I think this research and academic stuff shouldn't be sniffed at I do understand the frustration when we're yet to be rewarded as shareholders. I also don't think it's a case of playing with fellow geologists, after all geology is our business and the grades we recover will be vital in turning geological statistics into improving figures in the economics and hopefully, in turn, into numbers on the SP. As we all know the stumbling block with EUZ is getting value for stakeholders after consistent good work because funding hangs like the sword of Damocles over our heads. That brings me to the 'Value Event', I said at the time they need to deliver on that briskly and here we are six weeks on, not an age in the greater scheme of things but I would question whether it was advisable to put it in an RNS unless signatures were an imminent certainty. Monday then.... deffo :)

Agreed BB I'm sure one day the payoff of this integration into the local institutions will become more apparent. We can already put the grant / loan down to it plus it would have helped with the renewal of the IP. I'm sure Jed was just having a bit of a joke, if the TV crew were just doing coursework for their Media Studies degrees then the cameraman at least must have been a mature student!

Bit dismissive of the drill deviation work Jed. A great deal of high level R&D is done in conjunction with universities, it doesn't diminish it because of the academic links.

antharry - cutaways darling :)

Yes I'm certain they mean a careful/considered/measured pathway forward. I'm hoping it will be on Castila y Leon TV unless it is one of those micro local channels. Some tantalising looking cores in the picture.

Haha no I just asked. Need to find out what station it will be on now, Chanel 9 Neus perhaps - scorchio!

Yes Teaye - not sure which station, maybe cyltv.es ?

Just checked the rampers handbook grappa and change that to 2% per day until 2025, 2p per day will be meaningless from 2023 onwards.