Member Info for Toffers

Well it looks like the auditors Grant Thornton messed up last year. Under Risk Management, there is absolutely no mention of the High Court litigation with Queeld and Mispare that started in December 2021. Is this why the previous auditors walked?

"Principle 4: Risk management

The leading risks at operational level relate to the reliability of our resource and reserve estimations and our ability to manage the mining operation to achieve its goals. These risks are mitigated by ensuring we employ qualified and knowledgeable personnel who are adequately resourced and supported by effective management. Resource exploration involves inherent risks stemming from the fact that information relating to the mineralisation is not immediately available and is expensive to obtain. Recognising this risk and then managing it effectively is a critical aspect of a successful resource exploration and development business.

The Company's annual audit provides an opportunity to reassess the chief risks facing the business at both a corporate and operational level. These are agreed by directors and delineated and audited on an annual basis, thus ensuring adequate recognition and articulation of each risk category."

I'd say that's a pretty big ommission myself! How can they possibly carry on when they didn't make sure it was reported to shareholders under 'risk management' about the High Court litigation which commenced in December 2021?

Hope the auditors find the £35 mill!

OTBB, if you had lost most of your intial investment here, I think you, likewise, would be very angry. But assumedly you haven't, and instead prefer to pick on those that have.

It's not too late, just, I think, if you're quick, form yourselves a share action group, appoint a spokesman/woman, and request a resolution on the AGM agenda for that person to be co-opted on to the Board so you have a voice at meetings and can be informed via the spokesperson from those meetings what has been said and what is supposedly going on. But you'll have to be quick. Otherwise you'll have to ask for an EGM to raise it.

As for the statutory authority which states that an AGM must be held within 6 months of the year end, I think I saw on www.accra details of fines etc. I think it was that website but I've lost it as it was on my phone. I'll try and find it because I'm tempted to make a complaint and see what transpires. I've been saying for months you need to be proactive, and making your voices heard to the right authorities because this silence has gone on for far too long from the Board and the whereabouts of that Rosgeo monies is crucial to know about, as is the two sets of high court litigation. What happens if they lose the Queeld one? Every time, they only want you to know one side of the story, theirs, that keeps them in clover with their humungous director salaries. My views.

I spoke to an ex partner last night who is a chartered accoutant of many years standing, I ask him about the Rosgeo monies, and he said there is no way auditors will sign the accounts off if they don't know where that money has gone and why it has not been utilised for the purposes it was raised for. If it hasn't been used for the intended purpose stipulated, it should be returned, otherwise it's a fraud on shareholders. His words, not mine! But it's what I've been saying effectively. Where is that money?

I suspect also, there simply isn't any money left! And I still ask, where did the Rosgeo money go? May be the auditors are not happy about signing off the accounts for that very reason?

I'm not the duck by the way, but, statutory authority takes precedence over any regulations, and the stautory authority is the Companies Act 2006 which clearly states;

"Section 336: Public companies: annual general meeting

583.This section replaces section 366 of the 1985 Act but will apply only to public companies since private companies are no longer to be required to hold an AGM. Where section 366 required an AGM to be held each year and not more than 15 months after the previous AGM, a public company will now be required to hold an AGM within 6 months of its financial year-end. This new requirement is intended to ensure that shareholders have a more timely opportunity to hold the directors of a public company to account."

NOTE, A PUBLIC COMPANY WILL NOW BE REQUIRED TO HOLD AN AGM WITHIN 6 MONTHS OF ITS FINANCIAL YEAR END.

The financial year end was 31 December. Therefore, the AGM must be HELD by 30 June, but they haven't served notice, so they will be in breach of the same, as they must give 21 days clear notice, and they now don't have 21 clear days!

This therefore appears to suggest that something is amiss, and either they are scrambling around to find an excuse to delay, or they are finally going to call it quits in this jurisdiction. My view the last bit of course.

Effectively, it looks to me as though they are already in breach! That means they can be fined! Where's the Nomad in all of this? Has he walked by any chance?

They must abide by the Companies Act 2006

https://www.legislation.gov.uk/ukpga/2006/46/notes/division/9/15/3

"A public company must hold an annual general meeting within six months of its year end. (Listed companies have to publish their report and accounts within four months, so in practice will call an AGM within that period.)"

Failure to do so can result in the company being fined. Also note;

"Shareholders can propose their own resolutions for an AGM but they have to act in sufficient numbers: there must either be at least 100 of them holding a certain amount of paid up share capital, or enough of them to represent at least five per cent of the votes."

https://www.pinsentmasons.com/out-law/guides/company-meetings

Del, you sure you didn't speak to nuffin? the call was probably re-routed to him! ;)

You need my password and other details to get in to it, and in any event one of the numbers has been changed before I posted it!

Del, I think mr nuffin has already given away his identity. He let slip yesterday I think it was about Leeds, so who else is in Leeds? Who is Mispare and Queelds dispute with? not just the company, but who? and where are they based? I'm sure they have an office junior who is happy to be paid a bit extra to frequent this forum!

May be the auditors want to know where the Rosgeo funds went?

21 days clear notice required, and from the articles of association;

"21.1 An annual general meeting and each other general meeting of the Company shall be

called by notice of at least such length as is required in the circumstances by the Act.

The Company may give such notice by any means or combination of means permitted

by law." pages 19-20

They can hold it in whatever format they like, "Subject to the provisions of the Act, annual general meetings shall be held at such time and place or electronic platform (or both) as the Board may determine. The Board shall determine

whether an annual general meeting is to be held as a physical annual general meeting or an

electronic annual general meeting (or as both).."

An AGM can be delayed if there is an issue with the auditing of accounts for example!

Get a grip Koc! ;)

GB0003230421

Eurasia Mining plc

Ordinary 0.1p

Market Order

Venue of Execution: London Stock Exchange AIM (AIM

Commission

P.T.M Levy

5.95

1.00

08/06/2023

A/C Designation :

08:56 B538603983-01019921

**BOUGHT**

387,852.00 3.35 12,993.04

STOCK CODE: EUA

HL Fund & Share Account 12/06/2023 12,999.99

B1ll you are right! and if we could speak in private, I would let you know exactly what has happened over a glass of shampoo! May be one day on a meet up elsewhere ;) Best of luck by the way.

You are correct, that was my trade. The podcast reaffirmed to me my usual strategy and what the hell was i doing coming back in here to lose more! This was never an investment strategy here, it was a pure pump and dump, as everyone knows, but won't admit. So pompal, I've actually lost 1.6k and not 1.3k as I sold in stages, but what the heck, I'd much rather be out than in quite frankly, especially when being reminded that this share has no investment strategy value at all. The Board have been absolutely abominable, and I hope those that left in, will vote against their re-election and get them out, sadly, i think it might be too late, but what else can you do? should the AGM take place. The two sets of litigation were the final straw. The Nomad is another who needs to be gone. I'm annoyed with myself naturally, I was 300k up still when we were at 24p which was my original investment, and I got out with just over 100k thank heavens which is better than nothing. Had I had my wits about me at the time, which I didn't have, because I was up against the clock on something else which was time barred, and so my concentration was diverted to that and away from this, I should have cashed out completely and placed it in a fund whilst I couldn't devote attention to investing myself. Having said that, it's been a salutory lesson, and a very painful one, and I hope those who pumped and then dumped, including those were who dumping ferociously yesterday, will be ashamed of themselves, because you've hurt a lot of people financially, perhaps least when they needed it. Yes, people shouldn't listen to pumpers on a chat forum, but the company joined in and gave us the impression that everything was very rosey in the garden, when plainly it wasn't at all, and they were deceitful in still pumping it large, including the Nomad, when they knew they had serious high court litigation pending. It's that deceit that has angered me the most. As I say, had it been divulged, as it is a material fact, then I would have been out in December 2021 at 21p. Best of luck to the genuine left in who are determined to ride it out win, or fail.

I listened to the Investing Matters podcast yesterday afternoon, and it so rightly reminded me of everything that is wrong here, and that I'm breaking my own rules, so I'm out! Another loss chalked up to this lot, but if you listen to that podcast you will understand why. This was purely ridden up by the pump and dump crew. It came from nowhere and it will go back to nowhere. Sorry to disappoint Del, I like Del, I sincerely believe he's a genuine person, but this is not an investment, it's a ticking time bomb. Speaking of which, have you seen that the US have a new nuclear weapon in the making, a living bomb, and nothing can penetrate it in defence. Heaven help us all, doesn't matter who we are or what we stand for, every living moment is precious in this highly unpredictable world. Sincerely wishing those still in the best of luck.