Eurasia Mining Share Discussion Threads

[pennstreet] 21/9/2019 16:16

Ok - let's keep speculating then,lol!

[book5] 21/9/2019 16:08

Te vehicles have a considerably beating

[book5] 21/9/2019 16:03

Snowy
CS said 100kg and contractor went ahead
He was expecting 65% of that which equals 65kg
Assuming 10 profit it means he was planning to cover costs with
65-6.5 = 59.5 Ie 60 kg raw platinum to cover costs

Last year price for pure pt was around $850
Do 60 kg may be around 1.2-1.3 millionUSA$

[snowman100] 21/9/2019 15:55

Contractors may have got the hump and took their trucks when they left, probably in August sometime?......would have caused hell of a delay and might explain the 55 KG.

[snowman100] 21/9/2019 15:42

Don't forget it's only for about 5 months, that they have to incur those costs.

[snowman100] 21/9/2019 15:36

'Most important Question is , how much cost to operate a washer plant per year (plant + vehicles + men)??'
'Assuming is around $1.2 million per year '

IMO it will be a fraction of that....truck say s are pretty close to the plant...fuel will be small.....bit of depreciation.

Wash plant shouldn't be much over and above fuel and routine maintainence.

Labour 7 men 350K ? ....is labour cheap there?....could be less than 50K each.

I reckon closer to 500K total.

[pennstreet] 21/9/2019 14:57

Let's not speculate too much and raise our blood pressure unnecessarily!I think some very good things are happening in the background - to the benefit of all long-termers ;0)

[book5] 21/9/2019 14:53

Crazy thought: CS May have given some MT shares to the new guy as he felt cheated with WK??

Hopefully we have a very successful campaign next year. Now that we have better defined reserves should be easier to choose richer areas to mine

[book5] 21/9/2019 14:31

WK

Guys forget about what happened, they will not tell us.

Focus in the future.

Most important Question is , how much cost to operate a washer plant per year (plant + vehicles + men)??

Assuming is around $1.2 million per year ,then we Would need to produce above 60 kg of raw Pt per year to Break even. Assuming pure pt at $850

Variables are weather , cold - wet weather is bad for us.To allow for bad weather we should only target zones with 72kg potential per year , otherwise we can to go into loses, . Those are the reserves we want to identify

We need our geologists to tell us the areas where we can break even and have a profit. Can they they tell us this? Or can’t they, that is another very important question. If they can’t, hopefully as Exc suggested, may they could guarantee minimum production of a group washer plants.

Above assuming pt st 850
Above assuming breaking point of contractor is 100kg*65%*0.8*0.9/31.1*850*1000=1.2 million

Pt at $1500 is what we we would need to bring minimum required production to less than 35 kg of raw pt to break even.

No looking great

Looking forecast report , cost analysis etc to be provided by company

[charles clore] 21/9/2019 12:34

snowy - everyone knows the company belongs to the shareholders - EXCEPT the board of directors!

[snowman100] 21/9/2019 11:43

CC ...with respect, I think getting shot of the contractors or them upping sticks is certainly worth mentioning and explaining fully to the owners of the company (the shareholders).

[charles clore] 21/9/2019 11:38

The question is, do we leave the running of the company to the bod or do we need to be told about operational changes? My view is we buy the shares and leave it to them in the hope they are honest enough to let us know if there are any problems worth mentioning.

[excellance] 21/9/2019 10:54

Another scenario could be that Eurasia reviewed the data and discovered we are better off without our contractor, so had to negotiate a settlement with them to get them off site, and the handover may have been disruptive while they recruited more hands and trained them up to fill the gap...Maybe?

Truth is, unless they tell us we are simply guessing.

[book5] 21/9/2019 07:54

Exc
I agree with that
But why did he / she not extract enough PGM-gold , and what are the consequences for the future.

Reserves report coming soon.

[excellance] 20/9/2019 22:44

With only 55kg mined in five months I imagine the contractor wasn't making any money so agreed to sell ths plant.

They may even have downed tools to force Eurasia to pay them off.

[snowman100] 20/9/2019 17:29

'But it seems this year we have mined a low grade area that we previously thought had much larger grades? So the Question that comes along is:, Are we confident in our exploration grades????'

Grades might be fine....we don't know the length of period 55kg was mined in. The contractor packed up or was dismissed.......could have been quite a few weeks ago!

Just wish they would be far more open with the shareholders about what has occurred, because they are still leaving us very much in the dark.....not on!

[book5] 20/9/2019 17:10

CC
I think I overreacted
We shall see
Apologies

[charles clore] 20/9/2019 16:59

book - we must be careful not to assume. We don't know the reason/s why only 55Kg has been mined this year. Until we do it would be wrong to judge. I don't know why the full story is being witheld from shareholders. All we can do is take heart in the knowledge that EUA is in control of WK now. I'm sure the facts will emerge in time.

[book5] 20/9/2019 16:35

What is wrong with following line of thought:
Key to make money is to have pockets or higher basic grade (minimum guaranteed grade)
It seems we don’t know where pockets are
So WK seems to me is a risky mine until they explain what are the minimum guaranteed grades in each area, ie the C1 reserves
Then we mine only those areas
It must be simple

But it seems this year we have mined a low grade area that we previously thought had much larger grades? So the Question that comes along is:, Are we confident in our exploration grades????

No good for me, WL is turning into a nightmare, I need more data, reassurance

Are we confident in our exploration results are reliable?
Why so low production this year so far?

Anyone?

[pennstreet] 20/9/2019 16:28

Has to be sooner Ex - can't wait that long!

[excellance] 20/9/2019 16:04

That's the beauty of having several separate wash plants, it averages out the variables.

This time next year Rodney.

[pennstreet] 20/9/2019 15:54

Well I'd pile in if I could! Predators are circling and soon an offer of sorts will be made.

[book5] 20/9/2019 13:58

CC
I Hope Eua updates the broker report with WK valuation
Soon we will have C1 reserves
Looking forward to hear Eua plans

[charles clore] 20/9/2019 13:45

By the nature of alluvial mining it is only possible to take and educated guess at future grade. It is only possible to be precise after production. Last year the luck was in our favour with high nugget effect. You just have to let the miner get on with it and take the rough with the smooth. By taking control of the mining operation EUA has eliminated as much inconsistency as possible from the equation now. It's all in the hands of EUA.