Euro.Mins. Share Discussion Threads

[blueskyes2] 16/5/2008 22:23

sg,
the issue is not with the new management, its what the old have done.

They have botched the plant and the mine is underperforming. thats ok if you can fix it (will take 6-8 mths), but its a low grade copper and gold mine, with 25% of the gold sold forward at 60% of todays prices.
Because they cant meet the production EUM have to buy the shortfall at $900 to cover the hedge.
thats why the banks and cannaccord etc would not lend or raise anymore cash for TW.(ie technically insolvent)
Thats why the White (Russin) Knight HAD to come in. Do the sums.

Alex Yub and Sergei are explorers and opportunists in the FSU, not mine operaters. Stopping the bleeding from a large operation is a very differnt game to exploration.

[sg31] 16/5/2008 21:31

Blueskyes, how can i say this simply,you are completely wrong.I am no fan of the new management team but there is no way they would have got involved with EUM unless they thought it was going to be a gold mine for them (oh OK it is going to be a gold mine).They are sharp operators they know a good deal when they see it.Shareholders may get shafted down the line but there will definately be money made in EUM

[p bear] 16/5/2008 21:17

5% up tonight on the TSX, these will start to regain some of the loss and make a good turn for those bold enough to top up in the 'dark days'.

UKGeorge, agree ACU are a good buy, but similar story to EUM in shocking management. I hold some ACU from 80p and have topped up on the way down. I think they could shake a few more pence off before I make a big top up at these very low levels. ACU very off the radar (and quite unpopular in Canada). I think the best junior plays on the AIM at the moment are ORE, CDN and EMED which are starting to do very well and maybe not the bargains they once were. I also like IFL very much and even with some good gains are still excellent value. ANR for the more bold/long-term and I think KMR are now quite de-risked and could come back in favour.

From my cals, ACU are not as undervalued as some others as they won't start to pull off big cash flows until 2011-12 (when their cost decrease) whereas EUM should start much sooner. For the long-term and coming years I would say gold is a safer bet than Cu if we see a major down-turn. Plus if copper goes back to much lower levels ACU would really struggle in earlier years. However Cu is still a pretty good metal to be in.

No advice intended.

[ukgeorge] 16/5/2008 19:10

P Bear agree new management now. apparently quite a few people wanted bert kenedy out.

What other juniors do you recomend is ACU as undervalued as these, do you have any other pm juniors. thanks

[donaferentes] 16/5/2008 19:03

AIM seems to sit at a discount to Toronto. C$1.03 = 52.5p, not 51.5p. Need a fair bit of cash to make anything on arbitrage though.

[p bear] 16/5/2008 17:58

It's the fact most of the old management are out and the Lero guys are in that counts from now on. Plus the discount is massive due to previous management.

[p bear] 16/5/2008 08:47

Things are getting started!! Good things come to those who wait. £1 by this time next year, serious cash flow and aggressive expansion plans (on Lero's top reserves).

I would rather be in Au, Fe, Ti and Cu than any other metals and this is one of the best gold plays around.

[ukgeorge] 15/5/2008 22:08

European Minerals Corporation: Press Release


10:03 EDT Thursday, May 15, 2008

LONDON, ENGLAND--(Marketwire - May 15, 2008)

[ukgeorge] 15/5/2008 16:38

yeah the £ should continue to weaken against the C$ long term IMO. Which should help these along.

[chrismisson555] 15/5/2008 16:18

Good rise towards the merger price of $0.98, weakening pound helps us out a bit here. Come on get to 50p and put me out of my misery.

[arc en ciel] 15/5/2008 15:46

Grant Thornton are one of the top NOMADs for AIM. Partners Gerry Beaney and Philip Secrett are two of the best in the field.

The firm currently represents 69 AIM clients, in these sectors:

Beverages;Chemicals;Construction & Materials;Electricity;Equity Investment Instruments;General Financial;General Industrials;Health Care Equipment & Services;Industrial Engineering;Industrial Metals;Media;Mining;Oil & Gas Producers;Pharmaceuticals & Biotechnology;Software & Computer Services;Support Services;Technology Hardware & Equipment;Travel & Leisure.

GT's due diligence before accepting a new client would have been thorough; hence the wait.

European Minerals are in safe hands!

[donaferentes] 15/5/2008 09:27

I though GT were accountants - are they also NOMAD's?

[ukgeorge] 15/5/2008 08:53

from googling tel no.

Grant Thornton Uk Llp
Grant Thornton House Melton Street Euston Square , London, NW1 2EP
Tel: [phone]

I wish them luck.

[donaferentes] 15/5/2008 07:24

What an extraordinarily cavalier announcement - how about naming the NOMAD whom we are invited to call for further information! Perhaps they're just shy?


NOTICE

(291)

15/05/2008 07:00

RESTORATION OF TRADING ON AIM

EUROPEAN MINERALS CORPORATION

The trading on AIM for the under-mentioned securities was temporarily suspended. The suspension is lifted from 15/05/2008 7:00am, a nominated adviser having been appointed.

Common Shares of No Par Value (B031526)(VGG3192Y1007)
fully paid

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7383 5100.

Ref: AIMNOT291

This information is provided by RNS
The company news service from the London Stock Exchange

END

[p bear] 14/5/2008 20:03

> Who, meanwhile, is protecting UK holders' interests in making sure EUR are properly advised?

I don't think EUM were ever properly advised. An RNS on a Friday lunchtime is the latest example of poor IR.

See Lero deal moving on... share price should do the same, but it is going to take a while. The RNS was pretty positive and the TSX price stayed still. Positive cash flow will be the driver - that is a few months away.

[ukgeorge] 10/5/2008 09:45

no idea whats going on with the nomad.

i dont think the share price is going to do much until the lero deal is complete. nice to see the sale of copper concentrate, and 6 gold shipments. looks like they are heading in the right direction.

[donaferentes] 09/5/2008 23:54

UKG - good news. I see EMC ticked up to 91ç = 46p for EUM if it wasn't still suspended. Are they just trying to save the cost of a NOMAD in London or what?

What news on the Lero deal?

[ukgeorge] 09/5/2008 18:04

some new news

[donaferentes] 07/5/2008 20:07

lol!

How many NOMADS does it take to change a lightbulb?

I'm tracking the TSX price as a guide to what the AIM price would be if not suspended.

Who, meanwhile, is protecting UK holders' interests in making sure EUR are properly advised? Should we email the SE and ask them to resolve this issue for us?

How about Dowgate (in which I hold shares) for NOMAD?

[sg31] 07/5/2008 18:25

It can take a while,they keep moving about thats why they are called nomads,oops sorry you said NOMAD,my mistake.

[p bear] 07/5/2008 18:15

How long does it take to find a NOMAD?

[chrismisson555] 30/4/2008 10:16

Gold falling for a few months could help EUM save ??? on hedging commitments until full production.