The Way Forward?6 Dec 2019 08:50
The way Eurasia is organising their operations and has brought in experienced people it looks like a possibility would be to sell one of the mines and to use the resulting funds to develop the other. That would allow EUA to be independent with sufficient funds to not have to rely on banks.
I would think part of the sale money would go on development of the other mine and part in a special dividend. We see the current way the SP is manipulated and a special dividend will provide certainty in a return to investors which the company can determine. Bear in mind the Directors hold a significant number of shares and can not be impressed with the manipulation of the SP as is happening currently.
The company would then have a strong cash position, not relying on banks, and an SP more under control. It would also have a stable position to continue as a company and the new Directors can be used to ensure the strong development of the remaining mine.