Member Info for TheBeastofBodmin

@TDT
'Does that mean to say in your book they can pillage the company that investors have been responsible in funding all these years?'

No it does not and as have been stated many times before the argument is valid, but this really is a question not for the PI's but the board?
My opinion,
Of course it is very convenient (maybe too convenient) for company's like EUA to make these arrangements with financial leaches and IMO to an extent disingenuous which I think is a word that to a large extent sums up AIM.
One only has to look up under Wiki 'It allows smaller, less-viable companies to float shares with a more flexible regulatory system than is applicable to the main market' hmm.....

Then looking at it this way...
Are EUA the only AIM company who perform this act of dilution, I don't know of any I have dabbled in that has not and while it is of constant annoyance with the BS we (PI's) get fed will EUA be worth the net result (it's a prospect)?
What alternative finance arrangements could/should the company have made that would not expose a lender to the inherent and marginal success of mining a out of favor precious metal in a media led pariah state, and result in the inevitable dilution to the cost to Mr P.I. and benefit to Mr B. anker?

For me in this instance until I sell the lot and see the net result only then can I judge, but the positive is now beginning to erase the negative, of the risk (which was considerable) I am only too well aware.

Looking at it the other way, the current BoD took a mining archaeology company to a junior miner which actually produces.
Name others on the AIM, I believe some 90% of junior miners never even dig up a dried up dog turd never mind a palladium reserve!
Last year was an aberration that no body wanted least of all I suspect the board of that there can be no doubt, but they have turned it round to their credit and the prize potentially makes well worth the wait especially for those who kept faith and bought in further in .20's .30's .40's etc.
We will see what the future brings but I would not want to be out now, at this moment in time I do not see anything else I would currently want to swap it for?

@ Panda, agree but we all knew about Sanderson and thankfully this is the final settlement, the company was very much on a knife edge not so long ago.

'As announced on the 29th June, in final settlement of the fee for the deferral to 30 September 2018 of the £250,000 loan provided by Sanderson Capital Partners Limited, a further 10,000,000 shares are issued'

This is away now I imagine in anticipation of the sign off via the Russian PM?
As they say buy on rumor sell on news, however given the news could be so epic is that the case here?
Personally I feel the really big re-rate will occur post sign off and Sinosteel confirmation (maybe others) of funding/participation, still think MT will be sold and would not sell at this stage cos you could well be struggling to get in if all the news lands as anticipated, and certainly not at levels past.

Lets not forget a couple of years ago we were going into administration (allegedly)!
Having had contact with CS I was 100% sure he was an extremely competent and most importantly genuine individual, believed the story & subsequently been buying for nearly a decade all the way down to the 30's and the 20's (still missed the absolute bottom sadly). If you do your research and believe in something best advice is to not not take the boards seriously, trust yourself and you only have yourself to blame or congratulate depending on the outcome.

Correct, apologies forgot to take into account the important 75% of ownership thank you.

Malaya Sosnovka has enough life left for a few weeks yet (unlikely caveat to that producing 221oz per day!), take into acount EUA's overall resource estimates for WK were also very conservative and are likely to be doubled by the time mine life is extinguished, also of note should be the enhanced grades retrieved to date.

We can see what looks to potentially be the clearing taking place from the pics on twitter, to stress again 2 wash plants will ramp output significantly.
Our current focus is the Malaya Sosnovka Area which holds greater than 100Kg (3,215 ounces) raw platinum.
The Kluchiki Area, with raw platinum reserves of 319kg (10,255oz) is scheduled for development directly after, or concurrent with Malaya Sosnovka.
Note that waste stockpiles overlie ore bodies, as the area is developed on a strict schedule with developed ore bodies later infilled by mine tailings.

Last year they were able to mine late into Autumn not that that added up to much.
This year however would be an entirely different result, do not forget they are looking to have the 2nd wash plant commissioned prior to COS if the production doubles by that time and the MT license lands the LTSH's are in for a joy ride.
To date: Current plat price $850 an oz 3 May to 22 June 2018 stands at 69.5kg (2,235 oz) $1,899,750 -- 35% of = $664,912

Fantastic performance and more than I anticipated EUA is now undervalued, also need to consider the value from WK when they get this second plant operational, if it performs like the present one then that mocks the current SP @.40p.
Still believe MT will be open to offers once the license lands, I am fully loaded on this share but if I was not would be buying more, but that's my opinion DYOR.

Good for you, totally convinced also & believe this will re-rate significantly in the not too distant future.

1 kg of platinum a day......early days with the new contractor but WK is beginning to show the potential promised, and the SP will subsequently reflect that if this continues. If MT license arrives a month or two from now along with associated contracts then who knows where we go, but for now with debt sorted and the possibility of WK finally producing (enhanced grades at that), the market will begin to take notice IMO.

If your break even is just over 1p and the SP goes to 3/4p then you have indeed broke even and then some! Unless of course you are related to Diane Abbot in which case you should sell at 4p and take your losses 🙂

I am of the opinion that MT may be sold, given the following in the RNS and the Russians eager granting of the discovery license I think this now highly plausible In addition, Eurasia have further advanced talks with refineries in the area and note a growing appetite for lower Sulphur PGM and base metal concentrates such as those at Monchetundra and the Kevitse project, recently purchased by Boliden for a cash consideration of $712m

Still here and no have not topped up but I will be. As for tails your correct news on the tailings project imminent and of course the big one, once rosnedra release the MT reserves the loans are going to look like chicken feed 'cluck cluck' Would not be short on this one now without covering it too many arrows lined up.

While we wait for confirmation of funding, the following highlights where the company currently is. The increase in prod/revenue from WK and any STP JV will more than underpin current SP. With MT once those reserves are released this co is in another ball park. DS & co are not stupid, to pump this sort of money in he knows full well the dots are lined up. --West Kytlim-- The main washplant operating from the outset. Potenitally a second plant will be established before the end of the field season. --Monchetundra-- Discovery Certificate - pending detail of reserves officially released by Roznedra. --STP-- Semenovsky tailings Project confirmed robust economics using a straightforward cyanide leach circuit. The Company is evaluating several project finance options for this operation The Company is also pleased to confirm that it anticipates executing a potential loan arrangement with third parties and Dmitry Suschov a director of the Company, in due course for approximately £1.6m

Old Saw Dust will be desperately closing that short he had open! All that noise for months on end, and who's laughing now..... me and Randy are HAHAHAHAHAHA

Cheers mate, must admit I did have a little chuckle myself! :D

LOL...The only dust your gonna be collecting is the saw dust of that plank of wood that sits on top of your shoulders!

LOL.....GD you appear by far the most attached person here!

I very much doubt they are going to learn much here, for starters the loan in May no one on these boards knows how that will be paid back, or extended or...??? In regards to dilution until we see clarification that is the case and the company has recursively said they are looking to avoid that scenario, it is simply an assumption not fact. EUA's finance deals to deal, WK was a very good piece of business then there is MT with Sinosteel and the mining license which is progressing, therefore I very much doubt the company is not taking care of the loan aspect in some way and if they do that in ways that are favorable at last this will fly. You just have to be patient if you want to hold why not call the company and ask them the question?

Reserves approval then discovery very then mining license. Reserves are gonna be interesting due within the next month is CS going to pull a partner out of the bag to eventually take MT into prod alongside Sinosteels proposed $176000000 input, how will that pan out as the loan is due for payback in May as per RNS 21 Dec. Interesting times moving forward.