Eurasia Mining Share Discussion Threads

[excellance] 28/4/2021 18:23

I'm sure we'll see the implications of today's vote fairly quickly.

[vimster] 28/4/2021 18:22

As detailed in last year's annual report..Mining is a critical industry in Russia• Eurasia participated at PDAC 2020 at the invitation of ROSNEDRA (Russian federal agency for subsoil management) together with Russian Mineral Industry professionals and majors.• Recognition of importance of mining, and foreign investment into mining in Russia• Eurasia is a permanent member of Urals Association of gold producers whose role is to work alongside government agencies to optimize legislation and improve the business environment

[themadstork] 28/4/2021 18:14

"Then why were EUA chosen to represent the Russian Government at the most prestigious mining conference last year?"

Do you have a link to this?

"In fact they have just awarded them new licenses."

What new licenses? If you mean the *option* to do exploration work that was apparently worth a grand total of $0.5m, then that does not seem to me to be the Russian government endorsing much of anything at all.

[themadstork] 28/4/2021 18:11

I'd also add that the FSP conditions regarding time constraints and non-binding bids are *entirely standard* for the process. EUA are not in any kind of 'special' FSP.

[vimster] 28/4/2021 18:11

Jeez there are some crazy posts out there today!

[trickydickytwo] 28/4/2021 17:59

Sanj1410

If this "deal of the century" were real it would not be getting played out in public in the way it is with an FSP which is designed for and used principally by companies in distress.

The Teir 1 bank and law firm are both, I suspect, being paid. If you know anything about banks and lawyers you'll know that they'll remain with their snouts in the trough for as long as the trough keeps on being replenished. UBS and Piper lending their names to this process is no guarantee of anything.

"Feasibility study and resource updates...."

What feasibility study? What resource updates?

West Kytlim is virtually worthless. The two contractors that walked away confirm that.

Monchetundra is a 1.8m troy oz. 97.5% resource. A resource is not, as I'm sure you know, the same as a reserve.

Everything else that's been announced in relation to flanks and the Russian cadastre of deposits is fluff. Being entered into the Russian cadastre of deposits is not the same as a reserve. Its in the P category at best.

TDT

[sanj1410] 28/4/2021 17:27

Re: Formal Sale Period .. i think it's forgotten the reason's why EUA is in a 'Special' FSP period.

EUA went into suspension for two reasons, 1) There was obviously quite a bit sensitive info available to few ( MH tweet) 2) failure of NED to do their due diligence ( response to speculation after being told by boards, AIM 13 rule reporting not done etc..)

to get over 2, NED was changed to share price Angle

For 1 EUA entered FSP period with special terms ( Time constraints and party disclosures relaxed).


This isn't a standard FSP as there were always steps that needed doing before any sensisible conclusions of asset sale including:

WT and MT license extension approval
Feasibility study and resource updates ( access to the additional MT flanks was available from Aug 2020 , these will be looked over by everyone involved )

EUA has Tier1 bank and Lawyers involved , have publicily stated non binding offers and have added Kola region since FSP.

All going in right direction

[ohojim] 28/4/2021 17:06

Rather than one liners Underhill2, how about responding in kind, with whole sentences and join the reasoned debate supported by facts?

[underhill2] 28/4/2021 17:01

Deramping idiot

[trickydickytwo] 28/4/2021 16:45

Worth a read.

hxxps://www.pinsentmasons.com/out-law/analysis/uk-ma-market-increase-formal-sale-processes

Especially this bit.

"Despite notable exceptions such as the Jimmy Choo acquisition, we have historically not seen an FSP being a particularly popular means of facilitating the sell-side process in the context of Code-governed transactions. There may be a number of different reasons for this lack of enthusiasm, but there is a perception in the market among some practitioners that electing to proceed down the FSP route signifies a failure to execute the company's chosen strategy successfully or that it has experienced prolonged financial difficulty."

This article is a bit older but also worth a read.

hxxps://www.lexology.com/library/detail.aspx?g=886cfad0-7f5a-4577-87e8-9136cd83b835

FSP's aren't entered into by 5 star companies with massive assets looking to maximise returns.

What I find surprising in all of this is the almost total absence of any curiosity from the Eurasia invested to question why an FSP in the first place. After all there doesn't appear to be any shortage of articles out there explaining how they are generally viewed.

"FSPs were created to encourage a competitive and confidential sale process under the Takeover Code, but often they may signal that a company has run out of options."

hxxps://www.herbertsmithfreehills.com/latest-thinking/ma-standpoint-formal-sale-processes-a-useful-tool-to-solicit-offers-or-a-last-resort

When this runs its course its likely to result in an awful lot of people being seriously out of pocket.

TDT

[fizzmiss] 28/4/2021 16:39

They should have refused the freeby assets then maybe the share price would have gone up?

The mega freeby assets have simply caused the share price to fall; crazy times.

PS,
Be very aware of what you read over on the other Darkside ramp pump and dump only thread and invest accordingly.

[pennstreet] 28/4/2021 16:33

I wish they had! The price would have rocketed

[dr darkstar] 28/4/2021 16:29

Of course they didn't, nor did they specify 250 Million shares. Sounds like the Illiterati again ....

[cool hand kev] 28/4/2021 16:25

Did they specify 25p? because I can't find it

[mo5h] 28/4/2021 16:23

Strengthening FSP position could also mean certain conditions which this milestone could be one of.Eitherway BoD won't be in any massive hurry as the prices of commodity keep climbing and so does the demand specially coming out of Covid.

[thebeastofbodmin] 28/4/2021 16:22

DLA Piper
UBS
CITIC
VTB
And Rosego are all engaged with EUA in a FSP!
None of these major institutions have left the FSP and clearly after the latest EGM are not about to, EUA IS NOT going on it's own and never intended to.

[scrappycat] 28/4/2021 16:13

Certainly looks like the company are positioning themselves for the possibility of going it alone. Could be a ploy to apply pressure to potential purchaser(s) to make up their mind, and get a move on. Realistically though, you don't employ UBS and Pipers for fun.

[user2007] 28/4/2021 16:01

I meant x 25p ...

[user2007] 28/4/2021 15:59

So now if needed the co can issue up to 250m shares x 0.25p = 62.5m.And from memory (pls correct me if I'm wrong) it's roughly the amount the co need to secure when/if triggering the sino deal.So this is a clear signal to the bidders that the BoD are serious about going alone with the new owner of the additional shares. So this is what they meant by strengthening FSP position.It's getting intetesting...

[rutter] 28/4/2021 15:58

Hope so. Although I'm in for long term

[dr darkstar] 28/4/2021 15:54

Exit more weak holders and those who can't afford a rights issue .....

[pennstreet] 28/4/2021 15:53

Don't worry - they need shares. A treeshake