Member Info for Spikeyj

Bfd, both investors and traders may take long or short positions (tho’ i think short positions in EUA have been effectively unavailable for long time now).

Just musing about use of CS shares as collateral.

in one sense it’s a complete no-brainer for him, since EUA would have collapsed this year without that one year loan, and his shares would have been worthless anyway once company in administration. so he has nothing to lose by pledging them (- different story, of course, if he had pledged some actual cash or a real property of his own as collateral).

? but i wonder if it might possibly also be about shoring up his chances of BoD re-election ahead of the AGM … i.e. might shareholders be a bit more reluctant to vote him off the gravy-train if they perceive the survival loan as dependent on the continued use of his personal shareholder as collateral?

[*kind soul]

They can’t convert any of their loan to sell before 90 days, B1ll, and i assume that is legally binding, but presumably nothing at all to stop them selling shares they already have, or shares that some other kind would might helpfully be willing to sell on their behalf before they could settle/offset with conversation shares.

(no idea of course whether they are dong that or not, just mindful of the possibilities in these situations.)

Soz, bad link, maybe better:

https://images.app.goo.gl/HmBrzMbLzdZfCnkV8

… think this is what eua has just discovered, based on a monogram group i’m part of:

https://www.google.co.uk/imgres?imgurl=https%3a%2f%2fthumbs.dreamstime.com%2fb%2fmagical-unicorn-****-glass-bell-rainbow-fairy-turd-research-scientific-experiment-feces-mythical-animal-horn-75102215.jpg&tbnid=thcjddpcdo4zkm&vet=1&imgrefurl=https%3a%2f%2fwww.dreamstime.com%2fstock-illustration-magical-unicorn-****-glass-bell-rainbow-fairy-turd-research-scientific-experiment-feces-mythical-animal-horn-image75102215&docid=kras3btebybsdm&w=800&h=800&hl=en-gb&source=sh%2fx%2fim%2fm1%2f1&kgs=b6a466400e1f85b5&shem=abme%2ctrie

(Proof it sometimes really is possible to sell any old sh*t, so could be an inspirational tale for EUA enthusiasts all over the world.)

B1ll, in my part of the world there used to be a thriving industry selling fossilised dinosaur turds - that’s actually true (very good fertiliser).

@MAB, i agree Mr_W is probably not a genuine investor in EUA, but i think he probably is a genuine trader in EUA.

(& probably the majority of posts on a chatboard like this come from trader folks rather than people with a long term investing perspective … so in that sense i think Mr_W is at least as ‘genuine’ as most others on this board, including you.)

@Mr_W, haven’t tried wading through all the chatter on the board today, have you tipped your paws back in for a trade today, or hanging fire still?

Sinner winner, chicken dinner! - kerching!

)that was my short term punt for the month.)

Mr_w, EUA has become a very strange political bet.

the enthusiasts seem to think there’s no need to think about the accounts, or ordinary mining economics … they are just waiting for trump to win, wave his magic wand, putin & ukraine will agree a peaceful resolution pronto, western countries will drop all sanctions against russia, and all those buyers who’ve been hiding under the table will suddenly pop out and fall over themselves waving bundles of crisp tenners for EUA’s assets.

me, not convinced that’s really the way the world turns, but who knows, quantum universe and all that!

It’s really funny stuff, that concentrate, ain’t it?

… the more they say they’ve sold, the more that seems to be left behind!

… but the money they sell it for apparently can’t actually be used to do anything useful… supposedly sold £2million as a ‘test’, but then they still have to put out the begging bowl to sanderson for ‘working capital’, needing £1m to resume trading.

i’m expecting the next RNS about the concentrate to say that they’ve also detected significant quantities of unobtainium in the sandpile.

[meanwhile, got my drinks and snacks ready, my money (only a weeny small bet) is on sinner, but it’s going to be a very partisan crowd. maybe a bit like here.]

… the nearest i have seen to an answer so far is the idea that cash generated by selling product in russia cannot be repatriated back to the UK parent company because of sanctions (presumably putin’s?).

but if that’s true, then it is astounding that the company has not told shareholders and the market about it, as it is very, very relevant to working out how much the UK parent is actually worth, and what it’s survival chances are.

even if that is the reason, it still wouldn’t explain why they keep sending £1m /year out of the UK into the urals holding company … if they know that’s a one-way trip, and the money can’t be repatriated, it seems very unwise to starve the UK parent company of the cash needed to remain a going concern without seeking loans.

US open men’s final this evening, so i’ll leave you guys to it.

(good luck all honest and polite pis tomorrow, whether trading or not.)

Lots of tennis today, so just passing through to see if anyone managed any sensible answer to the trade finance loan mystery - seems not so far.

the mystery is:

? why did they have to arrange a convertible loan for £1 million, which seems to be the sum needed to resume trading on AIM by convincing auditors they can meet financial obligations as they fall due over next 12 months … ?

- when they should have been able to just ask for £1m back from the subsidiaries

- or just ask for £1m back from the ural holding company

- or conserve cash in the UK parent company to begin with, by not paying > £1m a year into the ural holding company

- or just sell £1m worth of sandpile/concentrate

- &/or, since they claim to have a fully operational, producing mine at WK, and claim they can sell concentrate, why have they left it mothballed, rather than operating it and producing, in order to generate cash for the UK parent company?

… in the interests of balance, here’s a picture of a lovely shiny nugget of osmium.

https://en.wikipedia.org/wiki/Osmium#/media/File:Osmium_crystals.jpg

(never mind the total lack of asset sales after so many years of trying, here’s some shiny shiny!)

21:30 “… gas lighting vulnerable investors …”

? i thought that was the telegram group’s job?

(relax, only joking!! - good night)

(Speaking of personal ‘baiting’, Bfd, if such things bother you, perhaps you could turn your attention to richard’s persistently rac_ist abuse of another poster on this board?)

I’d add that it should also sometimes be possible to have interesting conversations about serious matters that could include a dash of good humour all round. that sometimes seems a bit lacking on this board.

Bfd - “… should be based around fact and genuine opinions, not untruths..”

yes, nice to know we agree about something.

Bfd, as ever, you misunderstand. from my own perspective, this chat board is primarily light entertainment, good fun and intriguing in its own right. i enjoy posting and reading here (especially since cloudtag has finally fizzled out, which used to be one of mac’s other ramp commissions, under the aberdeenman ID).

glancing over recent postings on this chatboard, the great majority of the more belligerent, angry, name-calling, rude, sarcastic posts are coming from EUA believers, not the sceptics.

that’s a shame in my view, as there are plenty of interesting conversations that could be had about what’s going on with EUA if peeps (sorry, mr_w) were willing to stay company-focused, polite and grown-up.