Member Info for SwearinNige

DW, "Cynical" is a great word for this debacle.

I have remained quiet about this over the last few days as I was fuming when I read the RNS whilst at work. After having the weekend to mull it over and try to think of a way forward, whilst not being happy about the situation LR and Co have put us in, we must try and look at the positives, albeit a little hard to see.

I did own 1% of EUZ, now circa 0.50%, but would you rather have 1% of $20M at discounted price or 1/2% of $200M going forward with indicated metals resource. With no funds we almost certainly would have got no return at all, and the asset is still there for someone else to clean up.

As painful as this certainly is, at least there is now a light at the end of the tunnel. Dirty tricks, YES, misleading, YES, Insider trading, ?,but one thing for sure is we now have cash to continue to move forward, hopefully quickly before another cash call is required.

As for LR, I also think his bad handling of matters could all be undone in the next few weeks / months.

The big question I ask myself is do I buy another 55m at these low prices, average down, and get back to 1%? Either way this is a "put it in the bottam draw and forget about it for a while".

Hope your correct bricks for all our sakes. Got another payment going in my sipp tommorow so maybe add a few more.

Sorry 650%

Razel2000, I am in PRD BLOE too. Have a look at BIDS & I3E too. All are performing well and the future looks bright,

Here at EUZ we need a 750% rise to recover to 0.15. The big question is how do we achieve this? Answers please LR.
That slingshot seems to be overdue...

BB That is what LR said on a podcast, n response to a question from JW as to why they hadn't de-listed from ASX He replied, "He didn't want to waste £100k of shareholders cash on a delisting, because thats what it would cost"

Please take a look at the Bezant chat board. BZT. (LR other company in the Philippines)

Looks like we are not alone on this. Also take a look at the charts going back 5 years, and it doesn't look good at all.

DW, I read your post shortly after you posted it and thought to myself, "Another RNS addressing your main point 7AM this morning surely". I was sadly mistaken.

An update to shareholders is the minimum they should do now, as there is no interest as the volumes show.

I fully understand he can't announce a deal which has not been done, but he could give an update as to what is being done at the present time to give confidence to the markets.

I honestly thought the de-listing from ASX was going to bring at least 3 RNSs in 3 consecutive days. After all they have had weeks to prepare them and go through them with a fine tooth comb to make sure no wording could be misinterpreted.

Has anyone worked out what cash we have left approx with the current burn rate? LR did speak before about £100K to de list so that needs factoring in too. Cash at bank= £ Bleak.

Is a placing imminent just to raise enough cash to keep the lights on whilst FI / JV discussions continue?

Dissapointed, is an understatement. LR The silence is deafening.

BricksSA, Your maths IS correct.

There is no way the company have spent north of £100K to de list from ASX just to announce SS figures. I would hope LR and the team have a clear vision going forward and further announcements will be made in due course, funding being a priority and then this will re-rate very quickly.

As I have said before I don't want to see this given away due to cash flow problems but of course would be interested in any sensible offers, as I am sure most would be 1p per share is circa £55M and I personally would be happy with that at this stage of the proceedings. Sometimes your capital is better deployed elsewhere rather than hanging around for years to get a few quid more. I quote 1p because I think 25-35% of the NPV will be given away for FI / JV.

Taking this to a mine seems almost impossible to me with the financial resources we have available to us.

Anyway time will tell, but here's hoping not years. Looking forward to more news in the coming days.(Wishful thinking)

A podcast to reassure holders might not go a miss too, along with an update of where we are at with potential partners/ funding.

NPV $110M Macp £2m. Urmmm

So just very sadly been reading back through the posts from the back end of last year, and appears after many peoples calculations that our NPV is around $180m - $220M. Hopefully that is confirmed tommorow by RNS.

So lets work on the mid figure of $200m which equates to £152.88M, with 5.6B shares in issue gives 2.7p SP circa. (Figures rounded for simplicity)

Another way to look at it is small holders with just 5M shares could walk away with £135K given time, and there are a few large holders on here including myself who with patience could see huge returns, and IMO it will be this year, early 2020.

The eagerly awaited RNS should make this opaque glass turn clear.

Have a good weekend all what is left of it. Roll on MONDAY 7AM!!

Like happy Mondays. Hopefully a well worded RNS with a clear path forward

M m spot on. Another piece of the jigsaw

I think back in November it was oiltap that did the calculations and he used very conservative figures to reach $180m if my memory serves me right. So in conclusion it could be more, much more. Time will tell. Surely the RNS s have already been carefully written and will be released in methodical order to maximise share holder value.

Going back to November I think a few people worked out that the NPV was around $180M. This was calculated using very limited information. LR spoke "Intersted in any offers for the mine at discounted rates", so I was just quoting £100m as a figure I would be personally happy with. Of course more would be welcome, but I dont want to see this given away too cheaply because of cash flow issues.

Numptypi, I agree, too many variables to put accuracy on this until we have news and concrete figures to work with and a future plan.

Historically other mines have sold for far more, with approx same metal values as us.

Hopefully tommorow ? Monday will be the start of news flow, and the calculator will be working overtime to try and evaluate what we really have, and a more accurate NPV which should be contained within the SS.Then we just have to watch the SP rerate.

24 hours to go, Hopefully.

GLA

Option 3 for me.£100m will do nicely thanks

To buy below the mid price so buys showing as sells

I would have thought this would have to have been announced on AIM

Highlights

· 45 barrels of oil recovered during a five hour period at Norio well 44

· Follows first application of specialist perforation tool which is to be used on multiple wells, as part of fully funded workover programme

· Highly encouraging progress towards target of 25-fold increase in production at Norio field to 250 bopd by end of H1 2019

· 250 bopd target at Norio is in addition to the 650 bopd being targeted at Block's West Rustavi field by end of Q1 2019 via an initial two well sidetrack drilling programme

· At 900 bopd Block's estimated annual revenues of ~£13million (based on current oil prices) will provide a highly cash generative platform to build a leading independent

Lockedin,

There are 2 x side tracked wells by end of Q1.