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LB, good post, however..............."The Board expects the concentrates to be sold at carrying value and we are currently evaluating offers from three parties who responded to the tender process"
So they already have the offers......they would obviously know of the KK/RF challenge.........it seems very unlikely that they would put it our to tender, get offers, be evaluating them and NOT know of it? Maybe it is priced in to any sale. although can't see that as outcome not known? While the tax implications of not producing any more concentrate at this time are a no brainer IMO I still think all to do with a bit of cash flow to the sale which still think offer on table by year end. GL
It is obvious they know of the KK/Tax breaks etc.
Tiffers etc I am blocking you as out respect for this share I refuse to get drawn any further by your childish dribble. You are simply a juvenile attention seeker........ Holders here do not need me or anybody to advise them what to do. I think the RNS and facts speak for themselves.
Summit, not splitting hairs, it is simple facts sorry. Can't see there being a next set of accounts myself..........money from here going into obd, understandable, I bought in myself but with fresh money. As always timing is everything on AIM and hope those selling to buy into obd don't lose out both ways. last post here for a while, see ya lth soon
toffers/kira/frances/many others, is certifiable! they are a massive pain in the **** over on eua often posting non stop 24/7 total nonsense in the very negative sense. tries to drag holders into senseless arguments. a sad person with no life apparently. basically they are simply mocked and ignore over there, hence likely popping up here. a fair few eua holders have bought in here, and very happy done so. hope to god haven't brought the plague with us! sorry!!!
From Feb 2022......does anybody seriously think there is nobody out there that wants these? Remembering that there is very likely much more than shown here! the Nickel and Copper figures make me salivate and the prospect of what is likely obtainable is world class resources!
Metals
Reserves*, Contained Metal, tonnes (first figure)
Resources**, Contained Metal, tonnes (second figure)
Copper
292,714
1,807,049
Nickel***
388,485
1,858,875
Cobalt
13,947
114,925
Palladium****
148
1,080
Platinum*****
46
276
Silver
68
394
Gold
8
76
Bfhead, zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz and au revoir
How does refined copper reach the market?
Mining companies may sell copper in concentrate or cathode form. As mentioned above, copper concentrate is most often refined using equipment at a different location than company mine sites.
Concentrate producers sell a concentrate powder containing 24 to 40 percent copper to copper smelters and refiners. Selling terms are unique to each smelting company or copper refinery, but in general, the smelter pays the miner approximately 96 percent of the value of the contained copper content in the concentrate, minus treatment charges (TCs) and refining charges (RCs).
TCs are charged per tonne of concentrate treated, while RCs are charged per pound of metal refined. These charges fluctuate with the market, but are often fixed on an annual basis. TCs and RCs tend to rise when there is a high availability of copper ore.
Miners indicate copper concentrations, although they may be spot checked by a third party when en route to the refiner. Additionally, penalties may be assessed against copper concentrate according to the level of deleterious elements contained, such as lead or tungsten.
Most smelting companies have strict limitations on permissible concentrations of impurities, and if concentrate producers do not meet these needs, they will be subject to financial penalties. Miners may also receive credits for “valuable” minerals, such as precious metals gold and silver. TCs and RCs are levied separately on these metals.
Smelters generally operate by charging tolls, but they may also sell refined copper metal on behalf of miners. All of the risk (and reward) of fluctuating copper prices, then, falls on miners’ shoulders.
Typically, copper concentrate is traded either via spot contracts or under long-term contracts as an intermediate product. For spot contracts, miners are paid according to the copper price at the time that the smelter/copper refinery makes the sale, not at the copper price on the date of delivery of the concentrate. For longer-term contracts, pricing is based on an agreed-upon copper price for a future date, typically 90 days from time of delivery to the smelter.
The process for our PGM's very similar NB the smelter pays the miner approximately 96 percent of the value of the contained copper content in the concentrate - yes some costs after that but nothing like negheads try to make out!
NB Mining companies may sell copper in concentrate ------------not unusual to sell the concentrate!
BFL it was referring to fact not having to sell any "more" concentrate but are stripping to stock pile ore.....NB supreme confidence lol
B1II, well think we established it is not all facts as you stated.
I prefer to believe in the company, the BOD AND the RNS, which after all are vigorously checked over (and by NOMAD) for factual content. It is after all illegal to lie in them (unlike neghead posts here!)
Simply don't understand anyone who can't understand we are in a very difficult, complicated Sales process. There are several parties VERY interested, otherwise they would not bother spending money and time doing DD. No matter what some might say!!! One party who did DD, over some months, spending undoubtedly a deal of money to do so in difficult times, is still at the table. We ARE trying to sell ALL Assets, that much is clear. The standard disclaimer on an company sale in the world is "nothing guaranteed". Enough said from me for time being as I am making the day of the idiots on here.
Tygra, your normal once in a while drop in rant of a bitter ex holder who feels they are owed............look pal, life is too short to be as screwed up as you appear. Move on, you will feel better for it..........
Summit they are selling the "concentrate", not the ore stock pile.
OK, enough from me, the boiler crew starting to emerge and got a life better than arguing with neghead, no lives, GLA and those who got into obd
B1II, and I would say you are being deliberately obtuse, as usual!
Site preparation work was completed............when does it say "stripping" had stopped? AS TBOB posted satellite photos have PROVED stripping is still continuing. As I said likely for next buyer to refine, adding a bit to the sale for us while saving money ourselves refining it.
So basically you are wrong..........as usual.......the ore is a saleable product, to the asset buyer.
TBOB, very true, my wording wrong. There has been no "concentrate" produced. So likely as I alluded to there likely don't need to produce/sell anymore to get to the sale but may well be leaving a big ore stockpile for the buyer. Also we not paying to refine it. Every bit helps to sell price. GL
Audrey, only delusional is you, always have been, bitter ex holder lol Till time to get back in and recover your losses although doubt you can afford it anymore...
FYI the BOD played a blinder with the Sinosteel EPC contract! They pretty obviously had a long term plan tying in SinoSteel for so long. Always had the Sale in mind even then! The fact SinoSteel signed such a long term activation contract shows how desperate they were to get in, even before the expansion/DFS etc NB the fact SinoSteel are Chinese is massive at this time ;-)
Lenoman, very nicely on obd, posted I was in at 28, again at 28.5, again at just over 33, quite a holding now and very nicely in profit. I will hold there as I have here not selling a single share in either. A winner is a winner after all.
B1II, just because it is unusual for a company to stop mining and concentrate on the main agenda which is an assets sale, does not mean it is the wrong thing to do! In fact it shows supreme confidence that they have the funds/cash to see it through to the sale. It is that simple, don't look for bogeymen that are no there matey.........
Just a reminder of where we are and that everything is geared to the Sale of Assets. It has been for some time and is really the SOLE objective of the BOD. It will be to a BRICS country, likely China imo. Putin is not going to object to a sale to his buddies. Remembering alos our Russian share holders, yes, likely including Queeld. Yes, it won't be the price we all wanted/dreamed off a one time but it will be a fair bit more than where we are now.
Proposed sale of Russian assets
We have concentrated on this effort since 2020 and can report that we continue to make progress. Our focus on BRICS non-sanctioned counterparties continues, with several parties currently at various stages of their due diligence. Although, as stated previously, there is no guarantee of a positive outcome to this activity, the Board remains focused on achieving a successful conclusion.
NB "several parties" NB "at various stages of DD" - So yes, things are progressing! Plus original buyer having done DD still at table
"the sale process being Eurasia's main priority"
The Board expects the concentrates to be sold at carrying value and we are currently evaluating offers from three parties who responded to the tender process.
We have started to receive value-added tax refunds (VAT) against capital expenditure in previous years, which also contributes to our cash position (see below), in addition to the proposed concentrate sale.
In addition, the Company expects to receive VAT refunds of circa £1.5 million.
The Company's cash reserves are held in USD and GBP accounts outside of Russia and therefore not directly or indirectly exposed to Rouble foreign exchange gains or losses against other major hard currencies.
NB More cash incoming to easily see us through to end of sale process imo, no need to mine anything more.
The Definitive Feasibility Study ('DFS') at Monchetundra was approved by the authorities in late June 2023. This allows Eurasia to present this development and the resulting improvement in value to potential purchasers. The Company does not believe it is appropriate to commence construction immediately, as it is expected that any counterparties to the proposed asset sale may have their own plans for the development of Monchetundra and can either proceed with the EPCF contract signed with Sinosteel, or with a different contractor.
NB more value to buyers NB Sinosteel (Chinese) contract on the table as well for a buyer. If that buyer is indeed Chinese that would be an attractive hook up. But................it is also still on the table for us as a fall back scenario.
the project manager in Kola, Konstantin Firstov, is taking on additional responsibilities in accepting the appointment as Country Manager. Konstantin will have oversight of the ongoing discussions regarding the sale process. At present, there can be no guarantee that Eurasia will enter into binding agreements regarding the sale process -
Smart move by BOD
Gordonbennett1, plenty of those buys will me PIs or traders eg one of the 50,000 buys was me earlier in afternoon on a dip at around 33.5 actually averaged up from my initial 28 buy but as said I am investor and happy with my lot... whatever buyers are buyers lol :-)
Just heard Len Goodman the recently passed Strictly Judge (RIP) died from Prostate Cancer which spread to the bones. Another sobering death that might not happen in the future due to this test..........
Sorry bloke is an idiot! As for chartists.......why do they look the same when you turn them the other way up? This Share doesn't need any witch doctor's etc it is going only one way, up! I would hold it for 2 years but think they may not be around them as taken out. GL holders
Slacker246 you are on wrong BB fella. Pop over to Eua you will be welcome there as it is full of argumentative, trolling negheadsm trying to get a rise out of genuine folk/holders. Have a great weekend all, off up to London to see UK Subs tomorrow night. Saw PIL Tuesday, The Rezillos and The Undertones last night. Yea, I am that old and it's taking a toll lol. GLA
Gordonbennett1, thanks, I got in initially a fraction above 28 and very happy at that, since bought some more at 28.5ish. I think it will probably consolidate a bit around this level which is now bad thing for a short while anyway. Before a steady upward trend, hopefully the next RNS will make just as big a bang as the last. Best to all. love it when folk make money on AIM so congrats to those of you sitting on big profits.