Member Info for Truthfactory

It’s got some value as a shell but he and his chorus need to get out of the way

Well a few of us saw this coming-it’s worth nothing

I heard Mac took up golf recently and on his first round, he scored 18 holes in one.Amazing

What a load of BS-and no commentary on the dwindling shelf life of the Standard List shell.That’s right guys-it’s a shell.

I bought a lot in the Placing-EIS.Cheap as chips

It was a billion only 2 years ago

Nomad, annual listing fees,PLC audit costs, PR, non execs, AGM-it all adds up and I’ve listed a few companies in my time

As for my ‘visionary’ avoidance of this one, I would have invested had it not been for the history with nomads.But as soon as Putin invaded, I would have bailed out.I have consistently said throughout that the company is uninvestable whilst Putin is conducting his war.The evidence was there with Raven Russia and I know the founders who moved quickly to delist

I’m writing a book on poster behaviour on stocks like this-most of the material comes from dogs.Similar book to ‘The Signs were there’ which I recommend as a good read.Im an accountant so poster stuff gives a different dimension to just looking at numbers.

There is a lot of chat about companies coming off the market because it’s punishing indiscriminately at the moment.Basically delisting and becoming private companies due to poor sentiment and costs with being a plc.Not suggesting EUA will do the same but it must be costing them £500k pa to stay listed-a lot of money with no cashflow

I did say the chemistry was debatable a while ago

I gave it a miss simply because of past history with nomads-the presentation looked quite compelling !

Coming up for 4 years since I was introduced to this car crash by Optiva Securities-market cap was £470m

THE LAST UNCONSOLIDATED PALLADIUM PRODUCER

Placing to Raise $10m for Production Expansion

Eurasia Mining is an AIM listed company with a portfolio of large, open-pittable, world-class Palladium rich PGM assets located in an established mining jurisdiction.

Its West Kytlim Mine is in production since 2018 and is the largest open-pit soft rock PGM mine globally being the lowest cost producer with less than $300/oz 4-PGM AISC. The mine is currently ramping up providing a source of immediate cash flow to the Company. There is a strong and well-explored regional potential to expand the West Kytlim resource that the Company is now pursuing.

Its Monchetundra open pit deposit is a Palladium rich world-class project with the potential to underpin a new PGM producing district with over 15Moz of PGM resource. Monchetundra has a feasibility study and production permit for 2Moz of PGMs, out of which palladium in 64%. Its flanks area is shortly to be confirmed with 13Moz of additional resource and there is a 40Moz target resource for the entire district, which makes Monchetundra the largest unconsolidated palladium resource in the world.

The mining on all deposits is low cost open-pit mining not exposed to Covid -19 unlike underground mining. The Company has implemented strict measures to protect its employees and ensure stable development.

The company was founded in 1996, listed on AIM in 1999, and has a long and successful record of accomplishments consistently achieving multiple critical milestones at both assets. The leadership team has extensive technical experience in the global PGM industry.

Palladium is c.$2,000 per oz and this is supported by a fundamentally driven structural deficit that is not expected to revert in 5 years going forward. The global production is further declining, while the consumption has been boosted recently by China (the largest consumer) increasing consumption by 30% per one vehicle, as well as by India and EU. The palladium deficit has been increasing for the last 9 years filled in by the palladium stock that has now declined to the historically lowest level of c.500koz.

Following multiple inbound expressions of interest in relation to its assets, on 1st July 2020, it was announced that UBS had been appointed to run a formal sales process for the Company under the Takeover Code.

Besides any formal sales process news during this fundraise, we are expecting the following news flow:

There will be an announcement that the Tipil license at West Kytlim has received its final approvals. This will significantly increase the size of the producing asset, which will bring more cash flow to the Company and increase its resource.

There will be an announcement that the Monchetundra flanks license has received final approval and a formal license is now issued. This will increase the

Agreed-this company was going down the toilet many years ago under Tinkler and Co-covid and passage of time supplied the handgun

An excellent article

The sad fact is that Nomads are letting the market down-most have conflicts and populated with poor accountants who really don’t understand businesses.Some of the rubbish that has been brought to the market by the likes of Finncap is shocking, all fee driven of course

In short, good companies like this are being tainted by dross and the FCA should really be taking a look at how AIM functions

Another Finncap winner

Be careful all-Standard List shells like this are being subject to regulatory change later this year to make them genuine full listed companies.

It’s likely that companies like this will move to the less onerous Aim market but still much more onerous capital wise than Standard list

In summary, they need to do a deal or this could fall into a vaccum.Someone should ask the CEO to comment

I agree-any restructure is going to need hard cash.The issue is at what cost

Ryan Maughan?Look at the damage at Avid!

You need to go all the way back to Tinkler and Co to see where this car crash started-there should be an enquiry

Appalling report on Sudan on R4 this morning.Largely forgotten about in the maelstrom of other news but the biggest humanitarian crisis in history is unfolding

Well it looks like the herd has moved as Boris would say.

If and it’s a big if, he pulls off a deal , then it may be worth a punt but as things stand just now, it’s all hope with very little if any currency