Member Info for Spikeyj

“MT could be producing at least something by the end of this year.”

https://www.youtube.com/watch?v=zTJmJGxPVXs

Under AIM rule 41 a company should be delisted if it has been suspended for 6 months for not publishing accounts … that would be right now … however, looks like ADME now in a ‘discretionary exemption period’ because it is claiming that it is producing meaningful progress updates and communicating actively with the market about a concrete and ‘soon’ timeline —- but expect automatic delisting if they don’t get the accounts out by end jan; they are clearly on borrowed time and very desperate straits.

(… note, it is also potentially a criminal matter against the directors if they fail to publish accounts.)

Hi t/c,

1. “War ending” doesn’t necessarily mean putin and uk will normalise trade relationships. fighting in ukraine may grind to a halt, but putin is already at war with the rest of Europe, imv.

2. EUA has form for touting around huge ‘valuation’ figures from various sources that end up bearing very little connection indeed to what is actually received or proven in the audited accounts.

3. EUA weren’t able to sell MT even *before* the war, with zero sanctions or punitive taxation, despite years of trying including the failed FSP.

… meanwhile, the pis left holding the baby with EUA mysteriously seem to believe that they have cleverly spotted a multi-billion dollar asset currently priced at peanuts, when hedge funds, uhnwis and sovereign wealth funds weirdly can’t seem to spot the same bargain …

… EUA shares are freely tradable in london (& astana, lol), no sanctions against buying EUA shares … and yet sovereign wealth funds, family offices and hedgies can’t seem to spot the same bargain that the likes of stretch, MAB, gecko and cheesy can.

(Soz, typo, s/b “at best getting back $9m)

MAB: “WK had served us very well indeed.”

absolute nonsense … EUA sank *tens of millions* into WK & KK, and at best is getting back only, i.e. much less back than they invested and ‘loaned’.

shareholder funds would be significantly better now if EUA had literally walked away and abandoned WK for nothing years ago.

MAB at 11:43 also talks about CS giving a masterclass in how to “secure income” … but EUA now has *zero* income at all from any source.

? what’s that about, when folks like wilco want to insult, denigrate or dismiss other posters, that they start calling other posters by ‘she / her’ pronouns?

… it clearly isn’t because of any different info they’ve been given about the actual sex or gender of the poster they are trying to sl*g off …. —> just unimaginative mysogny.

“They make up some figures?”

? lol, how else do you think ACF invented those farcical forecasts? - they sure as heck weren’t based on the real world!

HNY 2ah&ppis.

Cheesy, the ACF valuation wasn’t EUA’s valuation either … that’s part of how EUA keeps it legal, letting other parties come up with those humongous fantasy figures … trickier for the nomad if EUA bod tried doing that themselves.

… EUA sure does like touting around ‘valuations’ … ah, ACF, nostalgic lol, just one of several fairytale ‘valuations’

… but genuine value is what you actually receive into your pocket and can walk away with when the smoke clears.

Happy new year mr_w and other honest and polite folks whether holders of not, and let’s hope for a more peaceful 2026 for all.

… one of the biggest lessons here (apart from the obvious, don’t touch anything russian with a bargepole) is that an “independent government valuation” may well bear very little relation indeed to what a company can actually get for selling an ‘asset’….

as others have noted, see how much the RNS tried to emphasise the ‘valuation’ rather than sale price and net sale proceeds.

EUA shareholders would literally have been significantly better off today if EUA had simply abandoned WK for zero $$ years ago. instead, EUA ‘invested’, and ‘loaned’, tens of millions into WK /KK over several years, and now someone else gets to keep whatever is left in WK /KK for a few mill.

Presumably the independent ‘anti-fraud’ valuer will have said whatever they were told to say, assuming they were not keen to attempt a swan-dive from a high balcony. this is russia.

CG, you misunderstand. i am not going away anywhere, and still happy to watch, but EUA has thrown in the towel on most of the game … there’s gonna be less to say … largely just a matter of waiting until their cash runs out, and that ain’t imminent now.

They also need to hope that it doesn’t get nationalised before they can complete the disposal, and that they can fulfil those unspecified ‘conditions’.

never been any point to WK producing, no matter how big the number, so long as it takes more to dig it up than they can sell it for.

TC, they ain’t received it yet…

Crypto, it might … 7m and a bit to begin, then maybe another 1m and a bit later if it’s all worked out just fine.

but for sure, not 200 mill, lol. with shareholders like chessy to exploit, CS must feel it’s like shooting fish in a barrel.

“…once the war ends and sanctions are lifted (which are a prerequisite for Russia on any peace deal) then the 95% Russian Haircut on Western Companies will also be lifted.”

… wow, it’s a good job that chessy is being kept so specifically informed by president putin about his future plans for british companies with assets in russia...

(? perhaps chessy could also ask putin why british assets in one part of russia are at risk of nationalisation by vlad, but other british assets, owned by precisely the same company, in another part of russia mysteriously aren’t at risk of nationalisation — strange, ain’t it?)

But they would probably agree that there are ongoing concerns … almost the same.

20:00, crypto, careful, EUA has not received those funds yet…

Hi TBOB. yup, i said that EUA is moribund, and i think that is abundantly obvious now they aren’t even pretending to mine at WK.

this company does nothing meaningful. it just sits on poor quality licences and hopes that it can kid pis that someone will overpay for those licences one day. all they can do is sit and and hope, with zero income at all from anything, that kind old uncle vlad will be really really nice to them one day. this company is just treading water and struggling to keep its nostrils above the rising tides. … that’s pretty moribund in my book.

and yes, i do think EUA’s assets are near worthless … that’s pretty clearly evidenced imv by the shockingly low sum that they hope to receive from WK even if all goes well and those ‘conditions’ are met.

… happy to wait and see what they actually receive from mt, somewhere out there in never-never land. it’s gonna take years to find that out though, imv.

me, i don’t believe that there is a snowball’s chance in hell that EUA will ever make any money from trying to mine MT. (…if they themselves ever really believed that mining at MT was economically viable and profitable, they would have progressed that years ago.)

Oak just said what they were paid to.