Member Info for theofficecat

Oh and MM's why don't you drop the ridiculous spread might encourage bit of action?

lovely day down south, off to O2 to see Queen and Adam Lambert so have great day all.

Final word on timings...you can't blame the BOD for a global Pandemic, with travel restrictions for so long. Neither can you blame them for a Mad man's invasion and fecking up the world. Neither can you blame them if third parties got skittish over any deals. Was always going to take longer than they, or us, anticipated. But firmly believe it WILL happen, even IF few more months, and price will make most content but not retirement dreams of some. GLA We are the Champions..

still doing world wide deals.

https://www.dlapiper.com/en/uk/news/2022/06/dla-piper-represents-eneva-sa-in-its-acquisition-of-porto-de-sergipe-power-plant/

doesn't wolfie love a little stir, bless him....

dammed by faint praise by Wolfie, gee thanks, Mac several monikers hmmmmm stones in glass houses springs to mind......have a nice evening now ;-)

Intothedeep, yep the Directors will get fined but only be a piddling few grand, nothing to write home about

upwardsandonwards, well.........we all have our hopes on price, much depending on your average? Of course a lot depends on what is being sold. I thought when they said splitting into 3 subs it was because they were selling off each as individual assets to different parties. That may have been/still is the plan. However I now think because of "circumstances" they want to get rid of all to one buyer. You would not get as good a price if that was the case imo. I was never one of the £1 plus brigade and now I would, all things considered snap your hand off at 50p

For me Covid added a year on and War has added minimum 6 months. Neither of those has anything to do with the BOD. Neither can you control what third parties do. So as long as accounts out on time and AGM in July I can wait until end of this year if that is what it takes. Also with expectations somewhat tempered as to price in my own mind. I think most sensible holders are now of that opinion?

Brokkers, good spot/point, let's hope if it was the case they didn't have trouble in recruiting another firm to do local work.

just for interest Re timings this year. It seems they don't visit site themselves (so no travel) but pay local firms to do it. Surely then shouldn't be delays over that?

• A visit by the component auditors to the mining site at West Kytlim;
• We contracted our network member firm in Russia to perform specific audit procedures on the financial
information of the local companies, as well as visit the local operations. A component materiality of
£82,000 was used;

While not happy at late AGM, as long as they get the accounts signed off in statutory period before end of June I will be happy enough. Expecting AGM 2/3rd week of July. IF we get RNS that accounts are not ready by end of June then I will be more than a bit unhappy! Then any niggling doubts would be growing at an alarming rate. Don't subscribe to view geopolitical events holding them up. IMO be bad planning and management if that was the case. But let's not jump the gun......

apologies, meant lovelyboy, oops and his again below

The full policy linked below. Worth a read IMO. Explains it well in relatively plain English.

https://www.rns-pdf.londonstockexchange.com/rns/5730X_1-2022-1-5.pdf

ATB LB

with credit to lonelyboy for below excellent post and hope they don't mind me reposting as was asked about...

'...target dividend amount is at least 80% of the Adjusted Net Income '
This is not absolutely 100% nailed on IMO.

- - - - -
3.1. The decision on the payment (declaration) of dividend is taken by the Company general meeting at its discretion. The Company general meeting may resolve not to pay (declare) dividend.

4.5. If the Net debt (adjusted) / Adjusted EBITDA indicator for the financial year exceeds 2.5, the Board may decide to reduce the dividend amount calculated in accordance with clause 4.2 of this Dividend Policy.
- - - - -

IMV it's wise to read the full policy over the summary in the RNS - there's far more detail on offer. Linked again..

https://www.rns-pdf.londonstockexchange.com/rns/5730X_1-2022-1-5.pdf

It's not a pure <80% of proceeds from the sale of assets or <80% of Mcap. JV obligations, exchange rates, earnout rates and other forms of debt/loss/costs/opex/capex are factored in to the calculation. Policy also hints that it needs to be in the interests of continuing business sustainability...

'4.1 When determining the dividend amount... balancing short-term and long-term interests of the shareholders shall be taken into account' [edited for readability]

On the upside
One would hope, any asset sale will considerably boost the companies net cash position so it's all relative from where we find ourselves now. It's still a massive positive that there is a clear policy and a statement of intention. And Bod are major shareholders....

'4.1... recognition of dividends as one of the key indicators of the Company's investment attractiveness.'

Others may read it differently but that's my take and my expectations are tempered accordingly.

ATB LB

the opposite of....but that is as bad as bag lady carp!

Good morning all, one day closer Accounts/end of year report and then AGM.

Got to say think comments "attributed" to Meyer Re assets outside Russia are bull! To start looking for assets elsewhere now, after 20 odd years bring this to fruition? Besides the costs involved to buy licences and set up another operation! With LB on his analysis of what 80% return to share holders will be, read his post on it. It won't be what some are expecting and IF were going elsewhere be one hell of a lot less! GLA

Mike what also I am sure you appreciate is the shareholders list changes every day and with every trade. So unless TR1 you wouldn't know if major share holders are selling or not until next company update? They were not in March, most can't due to rules, so think unlikely any have. But there are many large PI's holding millions who I am sure have been selling/trading whatever.......

Mike56, have to go to companies house and look up Eurasia mining, it will give you some info such as directors etc but I think for share holdings now you may first have to open and account and some things you have to order.

BYRNE, Keith
Correspondence address
Eurasia Mining, Clubhouse Holborn, 20 St Andrew St, London, United Kingdom, EC4A 3AG
Role ACTIVE
Secretary
Appointed on
25 April 2019
ABDIKEEV, Tamerlan
Correspondence address
Clubhouse Holborn, 20 St Andrew St, London, London, United Kingdom, EC4A 3AG
Role ACTIVE
Director
Date of birth
July 1978
Appointed on
9 April 2021
Nationality
Russian
Country of residence
Japan
Occupation
Non-Executive Director
KOSAKA, Kotaro
Correspondence address
Eurasia Mining, Clubhouse Holborn, 20 St Andrew St, London, United Kingdom, EC4A 3AG
Role ACTIVE
Director
Date of birth
February 1978
Appointed on
21 December 2021
Nationality
Japanese
Country of residence
Japan
Occupation
Non Executive Director
MATYUSHOK, Artem
Correspondence address
International House, 142 Cromwell Road, London, England, SW7 4EF
Role ACTIVE
Director
Date of birth
August 1980
Appointed on
18 May 2022
Nationality
British
Country of residence
United Kingdom
Occupation
Non Executive Director
NIEUWENHUYS, Anthony James
Correspondence address
Eurasia Mining, Clubhouse Holborn, 20 St Andrew St, London, United Kingdom, EC4A 3AG
Role ACTIVE
Director
Date of birth
July 1956
Appointed on
26 November 2019
Nationality
South African
Country of residence
South Africa
Occupation
Chief Executive
RAWLINSON, David Iain
Correspondence address
Eurasia Mining, Clubhouse Holborn, 20 St Andrew St, London, United Kingdom, EC4A 3AG
Role ACTIVE
Director
Date of birth
September 1958
Appointed on
27 May 2020
Nationality
British
Country of residence
United Kingdom
Occupation
Non Executive Director
SCHAFFALITZKY DE MUCKADELL, Christian
Correspondence address
Eurasia Mining, Clubhouse Holborn, 20 St Andrew St, London, United Kingdom, EC4A 3AG
Role ACTIVE
Director
Date of birth
September 1953
Appointed on
2 October 2002
Nationality
Irish
Country of residence
Ireland
Occupation
Chairman

Kammy, condolences to you and your loved ones.......

to save folk the trouble, see below

Shareholder Question and Answers

Regarding the most common questions received from our shareholders to put to the Board at the AGM:

Q1: Why is the company seeking further authority, given a large fundraising has just been undertaken?

It would be quite unusual to not seek authority and these resolutions are put to shareholders at every AGM. The Board considers the Company very well-funded and does not currently have specific intentions for a further fundraising, however, the Board asks that its members make that option available, for example, in case the Rosgeo Joint Venture development this year results in proving a resource higher than already released (104.6Moz Pt eq) and only if further funding will add value to Eurasia taking into account the implications of shareholder dilution, which the Board and management prefer to limit, being collectively the largest shareholders in Eurasia Mining.



Q2: Have the board used the circa £14m from the recent placing?

No. As announced on 4 June 2021 the cash balance of Eurasia is c.$23m. The work programme is being developed in relation to the Rosgeo Joint Venture.



Q3: Can the board release a comprehensive update regarding the potential asset sale?

Our RNS of 12 May 2021 stated the Company had received a proposal for the potential acquisition of substantially all of the Company's assets, and that the transaction would make the Company subject to AIM rule 15 (any disposal which exceeds 75% in any of the class tests is deemed to be a disposal resulting in a "fundamental change of business"). The Company has provided as much detail as permitted by the AIM Rules regarding this proposal and looks forward to providing more detail when appropriate and permitted by the AIM Rules. Proceeding under the remit of AIM Rule 15 would require a shareholder circular to be published and a general meeting of shareholders held to approve any transaction.



Q4: If commenced, how long will it take for the Monchetundra Project preparatory works assigned to TGK?

The engineering, procurement and construction ("EPC") contract allows for an 18-months to 2-year construction phase to commence in line with pit preparation works, undertaken by Eurasia subsidiary TGK, in a sub-contract costed within the EPC. These preparatory works include stripping at West Nittis and Loipishnune, transportation and compacting and dumping, slope grading, compacting of run of mine pad.



Q5: If a dividend is paid, following a sale of assets, what would be the dividend date?

The Directors and management (being the largest shareholders in Eurasia) intend to proceed with a dividend payment as soon as practicable following a sale. The date from which a shareholder qualifies for a dividend will be determined when the terms for a sale are agreed.

I will be going to AGM if at all possible, depends on date. I have loads of questions to ask but suspect they will be the same as most holders. Yes, not expecting they can/will answer some. I do think they will ask for questions to be submitted as previously. Whether they answer them before or after the AGM? Last year no public were allowed to attend of course. Anyone can look back to 22/06/2021 to see what previous Q & A's look like.