Member Info for TheMadStork

Phillip: That seems eminently sensible. If you are going to punt on the lower end of AIM resource stocks, it's best to do it with only a small % of your portfolio. Unfortunately I rather suspect that your prudence is the exception here, and if (when) the EUA story ends in disaster, there are going to be an awful lot of PIs nursing huge losses they cannot afford.

Though we obviously disagreed about EUA, JTMac always struck me as a dedicated, genuine, respectful man. I'm sure he will be sorely missed and my sincere condolences go to his friends and family.

You're going to have to be more specific I'm afraid.

Jmar121:

I have been short the stock to a greater or lesser degree since Dec 2020.

Lenoman:

Bang on. That is indeed my position. We'll see if I'm right; it might be that they simply do the whole 'no comment' 'read the RNSs' thing on Monday instead, but I don't think that will go down well either.

What they will absolutely not be doing is turning up to talk about how they've just sold some completely worthless 'assets' for hundreds of millions/billions.

"Yes I can dispute the fact of no offer made and we have been over this many times."

Please point to the RNS containing said offer. There is no offer. If there were it would have to have been RNSed. What there is is a 'proposal' from an (un-named, natch) 'credible party' for undisclosed assets at an undisclosed price. This 'credible party' has apparently 'completed their due diligence' but **there is no offer or that would have to be RNSed.**

"Can you tell me why we havent had an RNS to say UBS DLP Wardell have all packed their bags and gone?"

They will stay as long as they are being paid (with cash raised from one of the *three placings* from a company 'about to be sold'), obviously.

"AS TMS would say the NOMAD should have said something."

SP Angel have been disgracefully lax and absolutely should not have enabled this farce, but I do not believe they have technically broken the rules. What should have happened is that either AIM reg or the FCA should have forced EUA to actually name a bidder and give an indication on price or assets for sale, as would happen if it were actually a proper sales process for a listed company instead of a completely unprecedented farce.

Blackrock's holding, along with almost all of the other II interest in EUA is entirely automated index trackers. The actual % of the co held by actively managed funds is roughly 0.2%, and most of that is Miton, who were a legacy holder before the 'sale' megaramp kicked off.

I mean it's been two years of various forms of 'sale' with absolutely no bids, 0p returned to shareholders and £35m cash raised on the ramp. Absolute disgrace that this has been allowed to go on as long as it has with no named bidders, no clarification as to what is actually being sold indication on price given.

I'd rearrange the title of the thread somewhat.

Don't remortgage in order to gamble on AIM garbage. You will regret it.

Hence why there has been no explicit mention of the 'sale' since May, and what vague allusions there are have been getting vaguer and vaguer. They are looking to shift the story to the JV and quietly dump the impossible 'sale'. The fact that they will probably be allowed to get away with this is a huge failure of regulation in my view.

Also, using today's spot price just adds another level of inanity. Any mine at MT is at least 3-4 years from starting production and there are severe long term risks to the downside for palladium price given that

a)87% of demand is from CCs used in soon-to-be-obsolete ICEs
b) Increased supply as an unavoidable byproduct of ramped up battery metal mining
c)A pending glut of recycled material from Dieselgate-era vehicles being scrapped.

Nobody is going to take a risk on anything but the best, most watertight palladium projects and MT with its 98% inferred resource, lack of DFS and hostile location is most assuredly not one of those. It is worth nothing on market.

Cj62:

What *are* you on about? The 'mining plan' means precisely nothing without a DFS. There's zero visibility on costs or revenue and even if there were, you do realise that there *are* costs involved, right? You can't just take the spot price and multiply it by the number of ounces and come out with a profit figure; a *child* could see the flaw there. Come on now.

Cj62:

What *are* you on about? The 'mining plan' means precisely nothing without a DFS. There's zero visibility on costs or revenue and even if there were, you do realise that there *are* costs involved, right? You can't just take the spot price and multiply it by the number of ounces and come out with a profit figure; a *child* could see the flaw there. Come on now.

"I’m expecting a minimum of £11m revenue from WK? Soon find out. GLA"

I think you may be sorely disappointed. Just a hunch.

I'm expecting £1.5m+ cash burn for the 6 months to June, and only the vaguest possible mention, if that, of the 'sale'. I *am* expecting as big a ramp as they can get away with re the JV megariches as they look to quietly dump the 'sale' nonsense and move forward with the new story.

Let's see!

Sensible advice, Ian. Anyone thinking of borrowing money to gamble on AIM junk needs to take a break from the market.

There was tons of hype and expectation priced in already based on the frenzied megaramp of the last two weeks. Inevitably, the RNS failed to live up to the degree of hype priced in. Happens every day on AIM.

I'll post wherever I please, thank you very much. What's your name on ADVFN and I'll unban you. As long as you can remain civil you are welcome to post there if you'd like.

They can't give any of those figures without a finished DFS.

At least the OP, should he sell, will still have made a large profit.

The vast, vast majority will not be so lucky. There are already people posting that they are hugely underwater, and when the game is finally up there will be, as there always are after these bubbles, hundreds of PIs who will have made huge losses they can ill afford.

The pre suspension OG ramp crew will be fine, and gradually stop posting, and all that will be left are the last true believers nursing their losses and asking how this could have possibly happened. This has happened with dozens of AIM bubbles before and will happen dozens of times in the future.

1SiD

Posted in: EUA

Posts: 9

Price: 40.25

No Opinion

RE: 41p Paid08 Dec 2020 16:37
Being a slavish follower of British Bulls insightful recommendations, I wish to register the strongest objection to this latest SP rise, an insult to their latest SELL pronouncement.
I, of course, entirely swallowed their wisdom-imbued advice back on 7th Feb 2020, immediately before Suspension, and not only sold my entire 1.2M share holding, but also opened a spectacular Short against this spurious advice.
What? Where does it say they advised Shorting? I wish I had taken a screenshot, before these nimble tipsters secretly changed it to a mere Sell, retrospectively! A Triple Gap Up Means There Must Be A Downward Correction, echoes in my memory...
They are surely cheekier monkeys than even the beloved Motley Fools.
With you all the way, in my case since 2015. Bring on the truthful outcome, and if the grog runs out, may I recommend Banks's Bitter?

...

If you cannot divine that the above is in fact a very obvious joke, then, well, I really don't know what to say.