Member Info for Spikeyj

Https://www.cityam.com/aviva-immoral-as-row-over-defence-company-investment-hots-up/

Plausible —>. “seeming likely to be true, or able to be believed”, “reasonable and likely to be true”, etc. [pick your dictionary of choice.]

i think it’s *possible* that amit has spent years sequestered in an underground lair deep under an island volcano developing really innovative and valuable tech/IP which he’s sold for hundreds of millions of dollars.

(after all, in a quantum universe, pretty much anything is possible. my teapot might suddenly spontaneously transform into an antimatter clone of donald trump, although i’d prefer winona ryder.)

but although i think it is theoretically *possible*, i think it’s very, very, very unlikely, and is not remotely ‘plausible’. jmo.

If I understand correctly the general tenor of the EUA enthusiasts’ argument since friday, they see the news about the WUP etc. as a minor matter about a small invoice, that will be easily resolved and has no bearing on the company’s sale prospects or overall cash position.

and yet, the market having had three full days since the drop on friday to think about the situation, the share price hasn’t bounced back to, or even near to, thursday’s s/p level. curious, kinda suggests there may be one or two lingering doubts about what happens next.

but then again, as the rampers like to say when it suits them, the share price is irrelevant.

(meanwhile, from a meta perspective, mildly amusing that there’s been a dispute on this chatboard about whether or not the invoice is disputed.)

“I do not condone any referencing of mental illness to any poster.”

better late than never, friendsps. watch the company you keep, friendsps, it can say a lot about you.

(? whether or not you like or disagree with posts i make, why would that lead you to ignore or condone repeated offensive & discriminatory posts from others mocking supposed mental illness on the part of toffers or others? - why is your phoney outrage so conditional & transactional?)

Shows you very clearly for what you are, friensps, a bystanding hypocrite who posts faux outrage against posters you dislike, but ignores highly problematic, repeated bullying & discriminatory behaviour & insults by others you align to. …top up, friendsps, you deserve it.

——> 10:38, there’s your next chance, friendsps, to show it’s not just very selective faux outrage on your part.

“… formerly focused on Russia.” LOL.

Makeabundle 22:21 “See RNS about table and bidders.”

but there is no EUA RNS that states they are selling their stockpile of concentrate to the supposed ‘bidders around the table’ they have only said that they are trying to sell the sandpit, and are hopeful that they will manage to sell it for its book value (although of course they keep cutting the book value, lol). — so still no evidence at all for your original assertion.

22:03, dancesca, i appreciate that you might be unwittingly reproducing that rampy trope without actually understanding it for what it is. it’s been very pervasive and still rather ‘taken for granted’ by many EUA enthusiasts.

the point is, look at what was already being demonstrated about the enormous mismatch between the rampers’ claims [e.g. ACF!] about EUA **before** putin’s invasion, versus what EUA was actually achieving back then. the rot had set in with EUA long before putin invaded ukraine in 2022.

? why did ACF publish such outrageously, ridiculously wrong forecasts (nowt to do with putin)?

… still no evidence from you. you are just making things up.

Makeabundle, 16:22, you’re the one who made the specific claim that the concentrate is being sold to ‘bidders’ ‘around the table’ - it’s up to you to provide the evidence for your claim. but since you’ve failed to do so, it appears you were just making it up.

EUA has already said it is trying to sell the concentrate / sandpit. I don’t see why a mining company would need to feel that sentimental about who it sells product to — it’s dug up some stuff and wants to sell it, so surelyshould just crack on & sell it to whoever offers highest price and is able to complete the transaction promptly … it’s not like the sandpile is some kind of family heirloom that has to be passed on to a favourite niece. (& if somebody else eventually buys the company or most of its assets - lol! - they could just adjust the price they pay depending on whether any concentrate stocks still remain or not.)

Will of course be interesting to see what happens when trading resumes tomorrow. history here suggests there have often been times when someone has attempted share support operations, tho’ of course no-one would admit to such if so. …. would not be surprising imv if something of that nature happens tomorrow, although it’s hard to play keepy-uppy for long on widely traded share with poor fundamentals, so suspect this will be sitting in the 1s sometime before end of the week. - unless there’s a suspension soon, they can probably hold off the noughties until december.

most positive for EUA holders would be if they could RNS early next week to say gowling paid off, and concentrate has indeed been sold at book value or more, to leave them with a bit of cash in the bank to fund the mince pies /cranberry vodka etc next month.

BFD, I’ve never said that US t-bonds/bills aren’t decent cash equivalents. but VAT credits and sandpiles are not. EUA has little cash left, ongoing cash burn, and no income.

it’s bizarre that you question whether the WUP news was “s/p affecting” — the s/p was down >40% friday intraday, and ended 25% down. a blind man could see that the news was very clearly ‘share price affecting’.

yes, i think EUA should have RNS’d much sooner. this was not simply about a ‘dispute’ about £108K, since most such disputes get resolved without matters escalating to a WUP being lodged.

issuing a more timely RNS about the incoming winding-up petition would have helped manage market expectations and facilitated realistic evaluations, leading to more orderly trading and less severe price swings.

… not keeping the market promptly informed about potentially serious developments (- or indeed of developments which could be misinterpreted by the market as very serious, in the absence of timely factual clarification from the company -) is likely to adversely affect confidence in the company amongst creditors, potential creditors/business partners, shareholders and potential placees, and lead to demands for payment up front /higher rates / deeper discounted placing prices, etc.

Dancesca, your 14:19 seems to reproduce the rampy old chestnut much used on this chatboard, by suggesting that the main problem hindering EUA sale etc. has been putin’s war, with the idea that EUA could have been sold for loads of money pre-conflict.

but the more fundamental problem with EUA has always been that it does not have particularly valuable assets, pre-war as well as post-war. it has a small, loss-making mine, and not much else. (rampers made much of montechundra, but they’ve been unwilling to publish what the DFS actually says, presumably imo because it would give the game away how uneconomic developing and mining that would be.) they’ve stopped mining altogether now, presumably because they actually *lose* money by mining, and can’t afford to (&/or sanctions won’t allow) keep pumping funds into the loss-making mine just to maintain the cosmetic appearance of an active mine.

the argument that EUA was doing well and was worth loads was made by ACF well *before* the russian invasion, with the ACF report then used by rampers to hype the share price.

ACF forecast revenue for 2021 of £341.2 million, and net income of £164.1 million.

but the *real* figures for 2021 were £2.3 million revenue, and a *loss* of £3.1 million.

… those real figures for 2021 show how little EUA was worth, and also show just how ludicrously, outrageously wrong ACF were, well *before* the russian invasion.

? why did ACF publish forecasts that were so massively, wildly unrealistically over-inflated?

Friendsps, you have often been belligerent, mocking and rude to people you disagree with, even when they have been factual and polite in responses to you, whilst giving a free pass to offensive, dishonest and aggressive rampers. i hope you continue to top up, and would encourage you not to cut your losses.

Makeabundle, still no evidence from you to support your claim at 12:03 … looks like you just made it up. wishful thinking on your part.

Bfdinvestor, 11:44: “The Queeld case is the only one outstanding, there isn’t a mass of other stuff…”

one of the [many] problems with EUA is that it will be increasingly difficult for potential investors /creditors /pis to be confident that bfd’s assertion is true, given the very poor comms history from this company, and the way in which they seem to keep sitting on bad news until someone else uncovers it and outs it to the market, with RNS then following rather belatedly.

Makeabundle 12:03: “They are selling the concentrate to one of the bidders at the table.”

? evidence?

if they are indeed trying to sell the concentrate to one of the imaginary bidders at the imaginary table, that might help explain why EUA is failing to sell the sandpit — perhaps they should try flogging it to a real entity instead, rather than one of those fantasy dinner-table guests?

Bigfatlad, thanks for the very helpful highlight /reminder at 11:00 that VAT refund [not equal] VAT credit. a pending refund not cash anyway until the dosh received, but a credit note is different again, and certainly not a cash equivalent that could be used to pay gowling, their florists or the tablecloth vendor.

it is curious, as aubery & others have noted, that the enthusiasts claim to be so relaxed about the cash position when there is so little left, no income, no current mining, no mining plan, and they still appear unable to sell that pile of concentrate.

(actually, my personal guess on that is that they *can* sell it, but for far less that they are claiming as the current book value, and with too many strings attached re roubles vs remittance in a proper currency back into the london accounts. my second guess would be that they don’t want to admit that the ‘concentrate’ is nowhere near as ‘concentrated’ as they hope retail pis will believe … an actual sale price for the sandpit would give that kind of game away.)