Eurasia Mining Share Discussion Threads

[russiaguru] 18/9/2019 11:53

abre - you gotta have faith, still a $4bn resource here, hidden beneath the poor comms / performance / management and control

[abrahe00] 18/9/2019 11:51

@Mostyn: I went through pretty much the same thought process and have decided to sell up and get out of EUA. That is if I can off-load my holding. 2/3rd done but can't find a buyer for the rest.

I hate being lied to and all the nonsense in the tweets along with DS's now laughable statement that they are seeing grades at 3-4 times last year has helped me make up my mind.

I think they sacked the contractor as they clearly failed to deliver, having spent millions on revamping the process, only to see a decline in production.

I also think they are so far behind at MT, that SS are probably about to walk away. Hence the need for a new backer/buyer.

I pointed this out several times and have asked the company for clarification but alas, no reply. The EPC stipulates that EUA must complete the prep work within 36 months of signing it. That makes it mid October of this year. CS is on record that they still have another 6-8 months of work to do.

Good luck to anyone that keeps holding onto these. I've had enough.

So long...

[book5] 18/9/2019 11:42

Haut
Fully agree with u

[mostyn] 18/9/2019 11:30

PennStreet,

That's all background noise. It's demonstrable performance/progress that I am looking for. Yes they have the background, and yes they have the motivation, and hopefully in making themselves money they will make us money, but we have yet to see that. DS has been on board for years and what sort of investment has Eurasia been for most investors here. I'm waiting for significant share price appreciation, and it's been a very long wait.

[haut brion 58] 18/9/2019 11:27

Very good points raised Mostyn, but I doubt you’ll ever get straight answers from the Board.

Shabby treatment by EUA and the nomad. Hiding the ridiculously lightweight 55kg amongst other news is not on, especially without an explanation.

DS is obviously desperate to get a return on his sizeable holding, hence the carrot offered to Churakov... with strings attached I would guess.

Merger? No thanks, just sell the whole lot. Then I can hopefully reinvest in a properly run business.

[aidenabettin] 18/9/2019 11:20

hTTps://btcmanager.com/tech-giants-chinas-sovereign-cryptocurrency/

[pennstreet] 18/9/2019 11:19

Mostyn - don't these facts assure you -1) the strategic advisor Alexie has been literally given 25% of DS's stash2) he and his buddy are key players in the M&A world of mining 3) he owns 7% of WK4) 100% of revenues from WK going to the bottom line from this point onwards We're on the right track. Patience is required. The real price hasn't dropped - try buying decent quantities under 0.5p !

[aidenabettin] 18/9/2019 11:11

How about crypto?.Devalue major currencies and swap 1:1 with a new soveriegn currency.Chinese launch at 11:11 am on 11th of the 11th.Time now?.11:11am GMT

[mostyn] 18/9/2019 10:57

I keep thinking that Eurasia is an outstanding buy on a 12-18 month view but every RNS seems designed to chip away at my confidence, until I'm asking myself the question whether I'm right in my view and whether it's ever going to be reflected in the share price.

I have a number of questions which, if answered, might clarify things for me.

Why is production poor in relation to last year when Eurasia was supposedly meant to be expanding production and had set themselves up to do so. (Stockpiling material prior to the washing season, and changing the process to increase recoveries)

Why the change to owner operation, and why do they think they can do better than the contractor, and I don't just mean the change from 35% to 100%.

Can they completely assure shareholders that they don't need to raise more cash, and not just state that they don't want dilution and then raise anyway, usually on dreadful terms.

Where do they stand on the road to production (at Monchetundra), what are the next steps on the critical path, and is the chart from the presentation showing the start of full production in Q3 2020 still accurate.

What is the logic behind a potential JV at this stage when we supposedly have all the financing already committed. A partial sale at this stage would be very unlikely to reflect the potential value of projects at West Kytlim and Monchetundra in full production. If the money were to be used for something else, Eurasia have not yet proved that they are capable of managing one project after two years of trial mining (read fiasco) at West Kytlim, followed by one good season and then another disappointment (best term I can use).

Do they have a long term strategy and what is it.

If all those questions could be answered, I think I would have a better idea of whether my confidence for the longer term is justified or whether I just got it plain wrong.

[excellance] 18/9/2019 10:55

To be fair tho, I am more concerned about the bigger picture regarding global economics and politics at the moment.

The repo wobble yesterday and fed intervention is a big warning signal that all is not well in financial markets and particularly the banking sector.

Then there's the UK bid for independence from the EU and the bitterness that is causing, as illustrated in Luxembourg yesterday.

Then there's the attacks by drones on Saudi oil assets that could repeat at any time, causing an oil price spike of 20% in minutes...and potential war with Iran.

55kg or 155kg of pt seems unimportant in the scheme of things by comparison.

[excellance] 18/9/2019 10:48

A merger makes sense.

We need an experienced team desperately.

We need future projects after MT.

The need geopolitical risk reduction

They need a flow of cash to finance their projects

They need geopolitical risk reduction

I would have preferred a Canadian link up.

[aidenabettin] 18/9/2019 10:44

Glad you said that not me

[excellance] 18/9/2019 10:42

Can't even get a quote to sell 50,000 at the moment.

[russiaguru] 18/9/2019 10:42

i think a merge with the South African company is on the books not a direct takeover, so a share swap

[lew stules] 18/9/2019 10:40

Interesting view on platinum sales
hxxps://moneyweek.com/515211/platinum-price-make-a-comeback/?_mout=1&utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter

[book5] 18/9/2019 10:38

If contractor was negligent we probably end up with a much bigger % of the 55kg, that would help

[excellance] 18/9/2019 10:36

The share price has been drifting for weeks, the directors silent on WK apart from a shaky "satisfactory" response from CS, and yesterday we got an rns full of obfuscation to reveal the WK situation within a maelstrom or cacophony of noise about third parties.

Are we to take seriously the possibility of some kind of merger for our benefit, or is it that Sinosteel want to deal with their own hand picked professionals?

We are being sold...

[driver101] 18/9/2019 10:33

There is no reason for the doom, we was told the target for this season and will properly reach it, we wasn't told that by the end of the season we would be taking 100% of the revenue this is great news.
What we should be asking now is, can EUA afford the second or third W/Plant for next year, with a 100% I'm sure we can and each purchase adds to our assets.

When will the MT deal be finalised by the new broom.
When will the first payments be arriving.
When will the first spade hit the ground at MT.
All to look forward to, any newbies should be accumulating at this price, the rest of us are full..

[russiaguru] 18/9/2019 10:25

to be honest I was hoping for the resource upgrade to take us to 0.55/0.6 not the crazy rns

[book5] 18/9/2019 10:22

If that the case did the got broken plant,??
Who kniws

[charles clore] 18/9/2019 10:19

When will the bod realise it doesn't pay to be economical with the truth?

[russiaguru] 18/9/2019 10:11

book - very true, good thing is Eua and mr kov can rectify these things

[book5] 18/9/2019 10:08

Lew

I am very optimistic

[book5] 18/9/2019 10:03

I think basic grades are well known
Concentration Rich pockets are not. So 100kg were acceptable and expected.

Questions is why 55kg only and contractor gone: was he fired? And if so for what reason, I don’t believe it was for theft,

If he was fired It must be for a technical reason:
i personally did not like the setting out of the washer plant , and the discharge chute, to me it was not sustainable as water erosion could move the whole thing, I said it before.
Perhaps mortar bed was missing to avoid erosion that could undermining the plant stability
I may be too cautious, probably that is not the reason either