Exactly mate, none of us have a clue why the board deem this issue so important. Once the votes have been tallied I'm sure they will release the RNS with an explanation of why they are 'pleased to have received such overwhelming support from the majority of shareholders'.
There you go, just saved the secretary a few minutes by writing the sentence for her/him.
Time will tell.
Exactly. The same with a plot of land with planning permission approved. The lucky owner with the large garden in a sought after area can sell to developers but if they don't pay what the owner believes it is worth they can simply raise their own self build mortgage and build a house themselves.
Obviously that example is nothing like a world class PGM mine but the analogy stands. We have something a lot of other people want, they knocked on our door and asked to look around with the view to putting in a serious offer, they know how much it's worth but they don't want to pay full price so they will try every trick to weaken our resolve...........It won't work if we have the ability to mine ourselves, that is why we need the vote in the board's favour.
The most effective ammunition stays in the bunker, as long as they know it's there they know they have no chance of successfully breaching our defences as to do so would be financial suicide.
There's more than one party at the table here and you can bet your bottom dollar that none of them want to lose out to a rival.
If anyone has recently logged in and has not yet voted, here is a link to how to vote that was posted by EUA on twitter:
I agree but what is the stand alone vote for? It is for shareholder approval to allow the board of EUA to allot securities as and when required without the need for a further vote.
It is the only item on the agenda, I'm not saying they are going to raise funds as in my view there is no requirement to raise funds as we have an EPCF deal in place until 2028. That deal with SINO is for MT. WK is a current working mine so I'm simply reading between the lines and hypothesising that the board could (if they so wished) issue shares to bring in funds to instantly ramp up production at WK and start selling expensive PGMs immediately.
There's a reason this one seemingly innocuous resolution deserves an EGM in London all by itself. It's a tactic to strengthen our defences, if it wasn't there would be no need to put out a tweet asking for shareholder support with a document detailing how to do so by each broker dealing in EUA shares.
They want this vote passed by a big margin I suggest we help them achieve their aim.
All the best
The board have made it clear they wish as many shareholders as possible to vote in favour of a resolution that is obviously time sensitive for whatever reason as yet unknown.
My response was a summary of snippets from posts and RNS releases as to why a vote merely weeks before an AGM needs to be actioned quickly. If it wasn't to strengthen their position during negotiations it could simply be included in the agenda for the upcoming AGM.
The board did not get this resolution passed in 2020 as explained in the RNS. Therefore there is a vital reason why they have gone to so much effort to put this vote on the 28th April as a single stand alone resolution. The board know exactly what they are doing, that's why I voted in favour.
All the best
The board are asking for support to strengthen their negotiating position by us shareholders voting in line with the board's recommendation that they be given approval to issue further shares in future if required.
It's basically to tell all those at the table negotiating that if they don't pay up at the price the board deem acceptable, the board will activate the SINO financing contract and mine all assets ourselves. Even with the SINO EPCF deal, the board would (possibly) initiate a Rights Issue to allow current shareholders to purchase more shares alongside institutions in a cash raise to increase production at WK.
It's basically a show of support and a clear indication to those sat at the table that our company has shareholder support so we can't be strong armed by outside parties trying to get our assets on the cheap.
I'm with HL too, just send them a secure message and if you decide to vote with the board tell HL you wish to vote in line with the recommendations of the board.
All the best mate, maybe the final sale price will be £16.64 just for you ;)
You would be out of the market if you sold now and waited for funds to clear before topping up the wife's ISA. The only way to get it sorted in quick time is by putting £20k (or whatever ISA allowance remains unused in your wife's ISA), buying EUA shares, then selling yours and waiting for the funds to clear before putting the money back where it came from.
If you haven't got £20k cash available to do this, people often use credit cards and loans without repayment penalties to buy the £20k shares through the ISA, then settle the debt immediately upon receipt of funds from the share sale in the non-ISA account.
Only other way is to sell, wait 3 days, then buy back in the ISA. Anything can happen in that space of time so it's a case of 'do you feel lucky?'
Just bought 2002 shares @ 24.969 through HL when the buy price was 25.50. So anything under 25.00 is probably a buy depending on the size of the trade.
Extended my oar length a few inches but it'll help us get to our safe harbour quicker. We all have crap shares that mock us each day on our screens and we all hope they come good. I've decided to take half of them off the table and put the proceeds in here. Just re-read the Notice of EGM RNS in full and then ask yourself if there's any downside here? Yes the market can play with our price but they can't make all the PGMs and REEs disappear.
Read that RNS, it's an open letter to the world's miners and manufacturers telling them Eurasia have first mover advantage in a world class PGM and battery metals district with the cheapest extraction costs, a locally available experienced mining force and the host government who issue all licences as our joint venture partner.
In other words.........Pay up or miss out! There's no friends in business and the amount of interested parties at the table will ensure sneaky jostling will be going on between the competing parties. In my view they should all save themselves a lot of time and effort and agree to a massive joint venture under the guise of a newly formed company that takes MT and WK off our hands and then we start work on the Rosgeo JV. On the flip side, the more squabbling and jostling means one party might outbid all others which again is good news for us lowly shareholders.
Keep positive shipmates, nothing lasts forever.
Feel free to add me to the register. I have 54,061 shares currently. Yes it's a small amount but I will be adding more here when my house sale completes. I'm relatively new to this share and I'm currently waiting on news from EUA which I'm hoping will leave a lot more spare cash to put in here and elsewhere when it finally completes.
In MTL, once that debt starts reducing and the higher interest rate portion of the senior note is cleared, this will be making a lot more free cash which in turn can be used to chip off more debt. Any slight production increase coupled with a rising spot price could materially reduce our debt in rapid time. $2000 + spot gold and maybe some new investors will notice us and start taking positions.
Good luck, all the best and enjoy your garden. I've just come in from a nice digging session clearing a space to plant brassicas. didn't find any sovereigns buried there unfortunately, just a pokemon figure :)
vwap = volume weighted average price.
'In finance, volume-weighted average price is the ratio of the value traded to total volume traded over a particular time horizon'.
Tilly can explain its importance to gauge stock activity and indications of accumulation etc better than myself so I'll leave it to him when he's back on deck.
For me personally, VWAP = Voluptuous Warm Accommodating Passionista........ The meaning is self-evident, and in keeping with the frustration of awaiting THE RNS finding the VWAP is painfully elusive :)
Welcome! Don't worry mate, the computer programme that allocates buys/sells is a rudimentary piece of kit that lists a sell as anything priced below the mid point at the time of execution and a buy as anything above the mid point.
Share price is 25.50
Bid is 25.00 & ask is 26.00. If a trade is executed at a price of 25.49 it would be listed as a sell as it's below the mid price between the bid and ask. If the next trade immediately after was for 25.51 it would be listed as a buy as it's above the mid price.
The market makers move the mid price hither and tither at their pleasure, usually to work through trades in the manner which brings them the most revenue and fees. Obviously you know (from your post) that both your trades were buys so the fact that one was listed opposite to the other should show you what we are all up against. Whatever is printed isn't always accurate.
Don't worry, if you keep checking in from now onward you'll see many more tricks deployed out of the market makers' bags of tricks. In this case, they aren't to blame, it's just a computer print out based on a specific price pattern at a specific time of trade.
All the best.
Gotcha, yes, I agree, BlackRock short and long positions are pretty much irrelevant anyway. They do the same on numerous shares as they have risk/compliance models to adhere to.
Only a rapid and massive increase in volume would indicate a leak on this share. Up until now it has been pretty tight so until I see a volume spike on no news or THE RNS, I'm disinterested in rumours (Fleetwood Mac album aside of course).
Have a good weekend mate.
BR did close their short yesterday. The RNS today at 1520 shows zero in the cash settled derivatives column. They only hold direct shares now (unless they opened a new short position today that will be reported on the next trading day).
I might have read it wrong (it was a quick glance) but it looks like they closed out completely yesterday.
All the best
It looks to me like they called up Alan Titchmarsh and the Ground Force crew and now they are making a mini series entitled 'How to run a Lifestyle company for beginners'.
This share is incredibly frustrating, we have a previously explored and working gold mine with all shafts and infrastructure in place yet here we are years later with ZERO gold in the kitty. A group of shareholders could literally have brought out gold with picks and a bucket if we had the chance to go down the mine for a season.
Now he is sifting through trash to optimise his new processing toy that is still being tinkered with 3 months after being plugged in because they can't seem to get it to work efficiently yet. How hard can it be? It's a machine designed specifically to grade gold from raw material, why buy something that doesn't perform the function you require it to? Is it a toaster in disguise and they haven't quite realised yet?
Then we had the RNS stating he is sending a couple of blokes down stream with a bucket and spade panning for gold! This is beyond amateurish! I would be embarrassed paying cash to log an RNS for that non-event. That should be a twitter release at best and personally I would not mention it at all because packing off staff who are being paid a wage out of shareholder funds to pan for gold in a river is not exactly high tech modern mining is it.
We are going nowhere fast with this management team, farm out all of the Greenland assets and make a deal with a real mining company that produces tangible results, then use the funds to mine Clogau with a full complement of miners and sell some bloody gold!
Oh, sell Horsehill while you're at it because it (probably) won't be long before reality strikes and Sanderson informs the market that it's non-commercial due to all the interventions destroying the wells. Might get some other mug to take it off our hands.
Not got a link because I don't use social media accounts (apart from here) but I've just read an article that popped up at the side of something I was reading stating Japan is about to release treated water from Fukishima into the ocean.
Part of the RNS about our new Japanese tie up mentioned certain PGMs are required for nuclear contamination treatment. I think this news about Fukishima links in very well with a long term stable supply from our assets being sought after. I know nothing about nuclear water treatment but I imagine if you start something so critical you would demand certainty of supply for critical elements like PGMs/REEs.
All adds to the bidding war for what we have.
It would be extremely unlikely any hostile bid for EUA would even get off the ground let alone succeed. All parties in the data room and involved in the FSP have signed NDAs. This means they are unable to trade in shares of EUA until the FSP has concluded. Even if they pull out of the negotiations, the NDA remains in force for the duration of the FSP. Think of it like when some executive gets put on 'gardening leave' from a FTSE 100 company, they are paid to sit on their backside but they can't take up a role with a competing firm for a specific period of time.
As mentioned by another poster, any attempt by an outside entity to go hostile would be spotted immediately as they would be compelled to declare each 1% increase in the amount of EUA shares they hold. Also, there's too many shares in sticky hands via directors, institutions and insiders. Us PIs hold a large number of shares too so there would not be enough free float shares available for a new entity to acquire 30% of the shares in issue which is when an offer for the remaining shares must be made.
The biggest safety net is that we are now officially partnered with Rosgeo (Russian Government). It's unlikely they would not be aware of anyone trying to muscle in from the cheap seats outside the FSP. They have an incredible intelligence network with some of the most technically gifted humans on planet earth operating fascinating pieces of kit that let's them know what people are going to do before they do it. If they don't want EUA to be sold to a specific company/person it won't be sold, you don't poke the bear unless you want to lose limbs.
I think whoever gets our assets is already at the table mate, time will tell.
Lots of trades straight from the bell putting over 5 million on the volume in the first hour. The patterns of an abundance of new posters all talking amongst themselves, and the return of posters with 'questionable' intentions leads me to believe we remain under attack.
The dawn share raids and the dislocated pricing in the face of exceptional news regarding new open pit licences and inbound expressions of interest from Japan shows clear manipulation. How can you drop the price of a share following a 43% increase in reserves at a current working mine and the addition of a licence with 104 + million ounces of PGMs in place?
Regardless of what the forward plan is for this company there's no outcome that doesn't involve significant value to shareholders. We are entering the stadium for the final lap after a gruelling marathon. There are people in the crowd who 'appear' to be cheering us on but watch out for the extended legs.........They want to trip us up.........Don't let them.
Games will continue to be played and those who have been buying in the background and plain sight are here for a reason. You don't have Tier-1 investment banks and legal firms knocking on your door unless they are convinced they are getting their pound of flesh.
All the best, Illegitimi Non Carborundum!