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No, absolutelt not the case, hence the 3.49% drop with a nigh on 9% spread with more 'official' sells than buys. It should be exactly where it is, in Limbo until GR puts out an unequivocal RNS stating 1k tonne of Spod6 has been produced, and has been exported to Canmax in exchange for cash.
Until that happens, and in the absence of any other news about other interests such as the EPO areas, we go up and down on the whims of those who control the price, the market makers.
It's all down to Stark now, deliver by the end of November or we drop like a stone (after certain posters and institutions spew out rumours to run the price up, and then sell out en-masse just 'before' the market are informed that Stark and GR did Stark and GR things).
I would like to think even Stark can get their as yet useless and expensive Lego Set to achieve a measly 1k tonne of Spod6 in the next 2 months, it's not like they don't have enough 'techical data' on why it 'hasn't' worket yet is it?
There's nothing more dangerous than 'experts', but maybe one of the cleaners will solve the puzzle for them, just like a mining version of Good Will Hunting.
Where's Matt Damon when you need him?
Morning
More fluff from the 'management' of a mining company that doesn't mine anything, can't sell what it mined last YEAR, and continues to PAY to store an ever decreasing pile of sand that they threw on eBay to see how many (obviously) low ball bids they could muster (three, according to the Board of Incompetence, all of which will be heavily discounted...obviously).
The sale of 'assets' that have cost shareholders more than the current market capitalisation of the entire company over decades, to poke, prod, analyse, list, sample, send to labs, and whatever else they state they have done to get them sold...................CONTINUES.
The 'masterstroke' (according to some of the hard of thinking who post here regularly) of stockpiling the company's ENTIRE produce from a whole year of MINING because 'they are waiting for a more favourable economic environment in which to sell said produce', has resulted in a reduction in value from circa £5.1 million to £3.5 million in less than 12 months (excluding whatever they/we are PAYING to keep it stored as its value diminishes).
But hey, we 'should' be listening to those with 25 years plus of mining 'experience', and not to people pointing out blatant facts and highlighting the egregious 'performance' and continual deception from this shower of creatures who can't lie straight in bed. They are doing such a wonderful job after all aren't they?
A firm PUSU 'should' have been promulgated to all of these mystery buyers......sorry........'possible, potential, maybe, may not be, interested/disinterested parties' but no, lets run the company into the ground and give them 4 plus years and counting to make a single BINDING offer for ANYTHING. Wages and 'performance' options are all covered after all so no rush, all of the 'important' stakeholders are being looked after.
Nobody will be offering anywhere near what we SHOULD have received for this company when it SHOULD have been sold years ago. Offers will be pennies on the dollar, and they might as well just stick us on Gumtree and see what happens. Never mind, the disinterested parties are at various stages of due diligence, just like the 'buyer' who COMPLETED their's in October 2021 and then rapidly disappeared when the company started playing them off against others after the company making (breaking) Rosgeo clusterfcuk.
Wonderful, pop the cork, it's coming home.
Watcher36
My thinking too, they have suffered quite a bit of reputational damage, and if I was looking to put out tenders for someone to build me a processing plant, I would want to look at previous examples of their work and check how bad any delays and cost overruns have been. Based on ZULU, I'd probably give Stark a wide berth, but if they get some Spod6 coming out the business end by November, that might go some way to patching up a few of the wounds they've inflicted on us.
Time will tell.
Have a goodun
BB99
Nothing 'due' as such but at some point Stark will (hopefully) fix the plant they constructed that didn't work. We are 'due' to export a minimum of 1000 tonne of Spod6 to Canmax before the end of November, and if we manage that, we have fulfilled our rearranged contract with them for the time being.
I would like to think that we will produce more than the minimum amount but that all depends on Stark's performance which to date has been abysmal. At some point they will have to get something correct (law of averages and all that) so by the end of this year we'll (hopefully) be up and running, and our Spod6 production should increase rapidly.
Once we have sight of revenue coming into the company, the price should react accordingly (as long as GR doesn't GR it).
All the best
just as a reminder, there is only one refiner in the region of wk and eua have decided to stockpile their sand instead of processing it and selling it:
'there was no sale of pgm concentrate from the 2022 mining season at west kytlim. revenue recognised in 2021 relates to the sale of pgm concentrate from the west kytlim mine to a single customer "ekaterinburg non-ferrous metals refinery", being the only regional refinery, processing platinum group metals and being duly licenced to deal with precious metals.'
there is no other option other than selling the non-processed sand at a discount to someone else who will then get it processed themselves.
i know it's difficult for some to come to terms with, but, this bod have completely ruined what should've been the easiest sale in the history of mining. and now they are ******* up monetising what they have already mined over a year ago.
p45s all round, masterstroke(rs).
Careful Lenoman, calling someone out for stating a fact shows your true colours:
The mine product (a 'black sand' concentrate containing platinum, palladium, iridium, rhodium and gold) from the 2022 mining season remains safely stored for later refining.
Notice the company refering to their OWN product as SAND, which coincidently is still SAND as it is not being processed or sold so is a liability not an asset. When you pay to NOT sell something, that's an unnecessary overhead and a failure on behalf of the company. It's a shame there's only one processing plant in the vicinity of WK and EUA have decided to argue with them, quality leadership.
Oh, it's worth far LESS than it was last year, and the costs to process it have risen considerably with inflation alone, masterstroke by the Board of Incompetence.
The delusion continues, see you in a couple of months after the options expire again but actually don't.
It seems the precious FS that was 'supposed' to rerate the share price did..............fcuk all.
As there's ZERO information as to what the thing says specific to how much it will cost, what the estimated returns will be, how long it will take to construct/complete, and a whole host of other things that are vital to know as an investor, we remain 'valued' at £3 million for the entire company.
The point of a FS is to RELEASE the details so investors can read it. What did TK say? Is it a 'good idea' to do whatever it is we are supposed to be doing, or is it economically unviable without state aid and tax incentives?
Personally, I never expected any movement in the share price because without a BINDING finance deal and/or a large cash injection in exchange for a percentage of our equity stake in the PAK project(s), we are going nowhere but down. Naheed needs to get a firm commitment in the form of an offtake deal with a pre-payment to stop this endless cycle of discounted dilutions to pay wages, travel and expenses.
This company isn't a virgin start-up in its first year of trading, it's a chameleon that doesn't seem to settle on ANYTHING and changes the goalposts on a whim. Coal, gold, GH, solar, coal.....errrrr........zoom meetings, MoUs, just pick a project that can bring the quickest return and get some cash coming INTO the company as opposed to constantly leaving it.
See what comes of this FS, hopefully a financial commitment follows soon.
All the best
'No doubt ready for a leg up for the rest of the week.'
Which obviously means it's going to go down.
Limbo now, and a free reign for the market makers to do what they please (flash drops) UNTIL we get absolute confirmation of the fulfillment of Canmax's requirements. Any 'further' delays or faux pas by Stark/GR and we get battered.
See you in November or earlier if anything else of significance is released (hopefully not yet another dilution/debt related RNS).
All the best
Morning
Yet another disgrace from GR to spew another billion plus shares into existence within days of a previous raise that followed a LOAN that was forward sold before we were even told about it.
So all of a sudden we need ANOTHER £5 million to get the failed Lego set that was 'built' by a company of incompetents to actually produce what it was planned and DESIGNED to produce but didn't? We are paying extra to the contractors that failed, to unfcuk what they fcuked, and on a weekly basis we seem to be getting hit with dilution after dilution with ever changing goal posts that move more than a politician's 'primary' residence for tax purposes.
Pray we/Stark actually produce a measly 1k ton of Spod6 from November, because if we don't, watch how quick the sign above the door switches from Prem to Canmax. And us shareholders who've been LIED to and led by the nose with disgracefully misleading RNS releases, and that disingenuous Stockbox Orwellian media-a-thon in the bush talking about "2 weeks to get the bags to SA for export" and "substantial revenues" etc.
The man's a complete liability and the sooner he's put out to pasture the better.
Have a goodun, I'm off out to build something for work that won't do what it's intended to do, but I won't get sacked and they'll pay me twice over to fix my own failure (my CV has gone to PREM and Stark, interviews for both next week, I'm apparently EXACTLY what they're looking for).
29-Aug-23 17:07:55 0.46 22,645,815 Unknown* 0.45 0.47 104.17k O
Straight down the middle of the bid/ask but based on the trajectory of the SP into close it's 'probably' a BUY. With a bit of luck some positive news (for a change) will come to light this week, and maybe, just maybe, a path to DEFINITIVE revenue can be seen.
At some point I would like to think Stark can actually get something right and finally give PREM a product that is fit for export in exchange for cash.
All the best
Disgusting, GR should be in jail for the LIES he's consistently spouted, and his 'supporters' on here should be ashamed of themselves but they won't be.
A nice 'nothing' RNS talking about fixing the myriad of problems with the plant that the company commissioned and BUILT which didn't do what it was designed to do, and then a massive dilution at a 'known' discount 2 days later.
Pray this produces SOMETHING soon, if not, it will be owned by Canmax by Christmas because PREM will be bankrupt.
GR, do everyone a favour, RETIRE.
EUAv1 - EUAv2 = EUA Gone:
https://www.morganlewis.com/pubs/2023/08/update-russia-adopts-law-removing-unfriendly-state-holding-companies-from-shareholding-in-certain-russian-companies
There's a reason the former FTSE100 mining giant POLY had to completely remove itself from anything and everything to do with the UK BEFORE it was allowed to sell its precious metals assets in Russia. This new counter sanctions Law that comes into effect in September will make it even more difficult (which means impossible in reality) for EUA to sell ANYTHING to anyone without being completely fleeced by the Russian Government.
We are a UK company slap bang in enemy territory (London), and if all of the pom pom wavers are to be believed, we are 'apparently' just about to complete a monumental sale of strategic metal(s) assets, and carry bucket loads of cash out of Russia to distribute as dividends amongst predominantly UK shareholders via the London Stock Exchange and UK based brokers. Yeah...........Right.
The article is long and difficult to follow in places, as the new 'law' was designed that way to allow any and all interpretations to be weighted in favour of Russia doing whatever it pleases with companies and assets on THEIR land. The BoD screwed us, plain and simple, they've acted and 'performed' disgracefully ever since the first hint of adversity presented itself way back when.
Here's the conclusion below from the article for those who don't fancy reading it all (and for the deluded cheerleaders who obviously won't read it, and instead immediately find ways to suggest EUA is completely and utterly immune to this new law, and in no way affected by something which forced a FTSE100 company to LEAVE the UK entirely).
Conclusion - The Law is complex and vague, subject to various and conflicting interpretation, and its application depends upon the geopolitical situation. The Law affects non-Russian shareholdings in many entities and joint ventures. It is part of the recently emerged body of law known as the Russian counter-sanctions laws.
Have a goodun, sleep tight.
Unfortunately, the professional POLY who've suffered all out attacks from the start, and kept their shareholders informed every step of the way, have now been brow beaten into selling their Russian assets.
They have openly confirmed that it will be at a discount due to the Russian sided 'retaliatory' decrees, and obviously the discount will be considerable (along with the 'voluntary' contributions and random taxes and fees to the Russian gov).
POLY will soon be HQ'd in a 'friendly' jurisdiction, with ZERO ties to the UK. That is the reason they are now able to sell their Russian based assets. Previously, while registered in Jersey, it was IMPOSSIBLE (the words of POLY's CEO) to sell their Russian assets.
Without doubt an offer will be RNS'd by POLY detailing the buyer(s) (they have numerous operating Russian mines), the amount, and the likely timescale to completion. They will then concentrate on Kazakhstan where nigh on half of all their profit is currently generated, and no doubt they will gain a secondary listing back on LSE at some point once all ties to Russia have been cut.
EUA is listed on the UK stock market and registered in the UK. We don't sell anything anymore but instead pay to store it, we have one and only one processing facility in proximity to West Kytlim, and funnily enough, nothing has been processed there at all in 2023 (when EUA started referencing the UK/EU sanctions that didn't impact them but actually do).
We can't register the one remaining asset from the catastrophic Rosgeo clusterfcuk the BoD dropped us into, so instead we write off the millions of $ raised to progress the 9 separate licence areas and let the options EXPIRE. The BoD then forgot what the word EXPIRE means and decided to TWICE extend freebie undeserved options, and also had the audacity to state in an RNS that it was deemed 'fair' and in the best interests of shareholders!!
It's blatantly obvious, we are registered in the UK, have ALL our assets in terminal Russia, we can't even process let alone sell the bags of sand we dug up in WK, we can't register/exercise our option to take Nyud over from Rosgeo (the Russian Government, surprise surprise) and obviously, we can't sell anything at all to anyone because the BoD have backed us against a wall with a firing squad on one side and a swamp on the other.
POLY will have sold all of their mines and everything else they own in Russia BEFORE the BoD of EUA put out a straight forward non-ambiguous RNS. But don't worry, the DFS is the last piece in the jigsaw, as soon as we get it the buyer will............etc etc.
Hello EUA, welcome to Purgatory, you 'may' be here some time.
All the best
'Date of the transaction'
1
06/07/2023
2
07/07/2023
3
10/07/2023
4
27/07/2023
5
28/07/2023
6
31/07/2023
7
02/08/2023
They have all been typed individually and are all specific different dates. A lot of the shares were sold BEFORE we were informed of the Director's Loan and withheld from publication. GR and our NOMAD have 'supposedly' proof read and verified the details contained within this RNS, so if it's incorrect, it's yet another monumental fcuk up by GR and the company in such an important RNS.
Shocking. Either it's a bad mistake, or another form of corruption that will go unpunished by the 'regulators' who turn a blind eye to everything as long as their massive staffing budget is maintained. FCA, CMA, PRU and all the other three letter institutions that achieve fcuk all need to be abolished. How many CEOs in prison??? Yep.
I stand corrected. The updated Director's Loan deal raised the amount from £1.7 million to £2 million with a waiver for the proposed interested so you are correct, there's no interest on the cash value of the loan.
Apologies.
Marcuspd
'Secondly, the loan is interest free and to be paid back in share value, not numbers AFAIK.'
'If Premier is unable for any reason to issue the Settlement Shares by whatever means, repayment of the Loan may be made in cash in an amount which is equal to amount of the Loan plus compounded accrued interest at 8% per annum from the date of the Utilisation Request.'
It isn't interest free, GR has covered all bases to ensure he's well paid incase 'for some reason' he doesn't get paid back in shares.
Don't worry, he can pick up some of those repayment shares in the next massive dilution he subjects us all to.
Pactrol
'How come the share price is less than it was before they drilled the side track ?'
The credit card debt, massive overspend for everything they do/have done, atrocious management, engineering incompetence, financial naivety and gifting the lion's share of record high prices for what we produce to Mercuria, while tripling the amount of shares in issue via discounted (forward sold) dilutions, and taking on millions of pounds of extra high interest debt may have something to do with it.
But worse than that, the question should really be, "Why is the share price at 0.7p when it was 1.4p when ANGS owned half of SFB and hadn't even built the processing plant yet?"
You could sell your shares for TWICE as much money before a single sniff of gas was pulled out of the old wells and sold to Shell by ANGS. So you would've received double while ANGS owned half of what it now owns all of.
Genius Performance, but never mind, Mr Herbert is here to rescue ANGS from GL's destruction........Oh wait.
The delusion continues as the OBVIOUS placing gets worked in the background, while the same posters who are proved wrong daily continue to be proved wrong.
We've been had, again, deal with it, don't deny it with nonsense talk of 'strong support' and any other chartist voodoo that doesn't work anywhere ever.
Deals are agreed, CEOs LIE, and GR sits firmly at the top of the double-speak pile.
If Stark can find the right pipes, nuts and bolts to replace the ones that don't work, we 'might' make some money. If not, we'll be sold off at a massive loss while vultures pick at the rotting carcass of what used to be a mildly promising nascent mining company.
Nice one George, take a bow.