Member Info for Shedulike

Grappa, I thought according to your timescales that EUZ shareholders would need to be cryogenically frozen to have a chance of seeing 16p :)

Possible announcement tomorrow Mms, TV happening apparently so perhaps a reason it was pushed to the back end of the week.

You don't rate any of the work over the last couple of years then Roger?

By the way has anyone contacted the company about when this media day is happening? I'm sure they would have Tweeted something if it happened today.

No Bobby they are obligated to provide liquidity when orders come in so they have to hold stock. The volatility we see at EUZ and other AIM equities is probably because they don't like the risk of holding large reserves. As for "MM's would end up holding millions of shares in thousands of companies", I don't know where to begin with that. This might help:
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/289034/12-1069-eia8-minimum-obligations-of-market-makers.pdf

Bizarre, they have to have their own inventory to maintain liquidity.

Looks like it was the shock of 7 buys going through in quick succession, the MM's just seem to hold so little stock. Hopefully someone with their ear to the ground in Spain.

I'm hopeful we at last have enough proven resource in terms of deposit and metallurgy to be able to raise without placing. I just worry a little about cash burn while we're drilling, MC mentioned US$0.5m per deep drill at the AGM what would that mean per shallow drill? I guess we all remember the sudden suspension of drilling and strategic review in Jan 2020 so we've been here before, we're in a different place now but until we get proof that more PI friendly funding initiatives are deliverable I'll continue to worry about cash.

Okay Grappa I understand, good average in your SIPP by the way. I don't claim to have a massive holding, I know two PI's who definitely hold a lot more than me and have seen declarations from some on here who I don't know away from this board but if taken on word, own more of EUZ than myself. I do have other sizeable (for me) holdings elsewhere but EUZ has always been the one that fascinates me the most. With ref to BB's post, logically the PFS and BFS are the route to an ultimate funding solution but my hunch is something will have to bridge us in the meantime. That drilling crew have been out there for nearly four months, that's seriously expensive. On top of that the payroll keeps growing so I'm slightly nervous that if we don't get funding news before July then they are free to place shares again. That won't be popular but not the end of the world if it prevents us getting finance / JV etc on bad terms due to the risk associated with not having a PFS.

At this rate it will turn out that all the buys today were from already interned inmates :) Grappa I never quite get what you mean by "Not expecting anything for a few years", there's loads going on or do you just mean in terms of construction? I see you think we might reach the TP target by 2022 so you haven't given up on any SP progress entirely for four years? Even as an EUZ believer I would say this is a risky place to tuck your pension money away if you don't see a potential upside to balance the risk of losing the lot.

Nothing wrong IMO with an exchange of ideas and theories as long as nothing is stated as fact when it's evidence based speculation. Maybe Mm's worded that badly as they're clearly not officially 'on board'. Interesting though I think that the cement company have done a deal with EDF for solar so a picture building of industrial / energy partnerships. It would be a bit boring if we only talked about RNS's, we are after all to an extent speculators looking for value where a mcap is yet to prove it. GLA.

They went through on Aquis antharry. I think the press day is tomorrow though Twitter just says 'next week'. There would have to be an RNS in the morning if funding news but I think now that this will just be an exchange of information with the media on the basis they can't sit on the news and wait to reveal all gloriously when it suits them. Unless of course final signatures went down yesterday or today in which case tomorrow morning would be a reasonable amount of time to update the market.

I wouldn't have thought we'd have our own smelter, I think the plan was to use the Glencore smelter on the north coast which isn't far but it would be amazing if the Junta are serious about building a state of the art smelter in the local region. Just a bit more on this theme of integrated ESG investment I see that Cementos Cosmos have done a deal with EDF to build a solar plant in Toral. We already have some synergy with Cosmos as they might be interested in our waste limestone and having a cement plant on our doorstep when it comes to construction would be handy, think of the savings on delivery charges if LR & MC get down there with their wheelbarrows!

I think the quote came from one of the El Bierzo articles. From memory one was a bit ambiguous because the translation was about 'transforming' the metals in the region which could mean the manufacturing phase post smelter but I remember another was clearer talking about a green smelter. Try searching for "horno de fundición". I think this conversation about keeping the metals in the region is one of the reasons for tomorrow's event as apparently there has been some misunderstanding about the processing of the metals, with an official fearing that if they are processed elsewhere then the wealth leaves the region. I think that one was in the Diario de León.

Mm's that's partly why I disagree with that Mining.com article that said zinc has no obvious exposure to the electrification metals boom. Incidentally zinc has gone through $US3000.00/t
https://markets.businessinsider.com/commodities/zinc-price

Exactly Bricks, this bigger picture integrated approach is certainly starting to emerge as the likely path forward. It would also fit with the Mayor's comments about a in-region new green smelter which at first sounded a bit fanciful to me but now if they're serious about top to bottom ESG investment it really could be part of the plan, we're not the only mine locally.

Certainly not utter bull Mms, LR's post on Skarn Associates says it all. Whether we do a deal with Red Eléctrica or not I think the key takeaway is the emphasis on ESG and integrated supply chains which is why the applications for our products is very relevant as we plan this mine, as you say. Now if we can bring a significant copper resource back into the JORC wouldn't that just be perfect?

Ha yes but it was just a typo I meant to say my precise calculations had come out at £99,999,900 after factoring in vol-au-vents at the press day, okay good shot :)

I've always been confident that EUZ have a viable mine, even without the unique circumstances that the pandemic has created. In mine development this is a near term project and we could be set to ride a wave of mineral investment though the decision to overlook our copper resource isn't looking astute now (with the benefit of hindsight), hopefully they're in the process of putting that right. I also don't see a £100m mcap as the least bit fanciful and certainly if public sector money means we can delay diluting the asset then really who knows what is possible. This press event has created a lot of speculation and I admit I'm torn, companies like to do these things when they've got something big to say but I also know that there has been a bit more local politics going on than we're aware of and it could be a 'clear the air' exercise.

Bricks I wasn't posting that as any proof that there won't be an announcement, more that it seems odd that infobierzo.com quote a figure of $US110m which was coincidentally once exactly our NPV and also an out of date higher CAPEX figure than the current one. Just suggests they've got their wires crossed. Anyway we'll soon find out if there is any funding to be announced on the big press day or if it is just purely a media engagement day, nothing would surprise me either way. I know they're shallow but the number of holes we've been drilling it feels like funding news good or bad has to be imminent.