Eurasia Mining Share Discussion Threads

[rhuvaal2] 07/6/2019 20:32

Many thanks for that Red Rook

[red rook] 07/6/2019 20:14

russiaguru,

''We dont have much significant news on the horizon apart from the WK approval.''
''MT is still a black hole of no dates or deadlines, apart from the 2 year Sinosteel one.''

The interview given by Dmitry Suschov, who I suggest has a better undertanding of what's happening than even CS, was very clear. However, some posters prefer to ignore his statements and instead wander off into endless speculative nonsense... and then endlessly speculate on the speculation... !

Incidently, I do NOT include you in that last remark as I'm sure you are well aware of what's happening but are in a de-ramping cycle to work the price down. I quite understand, and I do appreciate your effort, BUT you are so bad at it :-)

Dmitry was quite clear. So, I will quote him ...again!
Regarding MT ''..SinoSteel has obligation to take it to full production within two year time-frame .. so hopefully BY END OF NEXT YEAR we will be ALREADY PRODUCING...SinoSteel has an obligation to bring it to full scale production which is 140,000 oz/year ...'

'BY END OF NEXT YEAR' ...for the innumerate that's 2020.'ALREADY PRODUCING'.... not under construction, not commissioning BUT already producing. Of course there may be some slippage, as in any project, but that is the time frame given. The 'two year' time frame quoted has already started, and was triggered when the MT license was issued. In fact, as CS stated previously supporting work was already going on behind the scene in anticipation of the license.

Regarding WK news flow ... there should be a video update mid-june showing progress at WK. IMO, there will be a production update either then or at the end of the month. Both CS and DS have clearly stated that they believe that WK will be the number one alluvial PT producer globally THIS year. Also, in the latest RNS CS commented .. 'We are confident of a strong second year at West Kytlim in 2019'.
These are clear and bold statements. IMO, not wishful thinking as CS also stated that they have.. 'continuously sampled during excavation to confirm the grades'. So they must have a clear understanding by now of what to expect this season from WK.

[book5] 07/6/2019 18:46

Eua suggested the authorities are not accepting the currently proposed cheap site investigation technique , this is coring, to justify the 0.165gr/cubic meter they need to justify mining

Rather than expensive trenching they are proposing coring, and trying to apply to it the nugget effect to get away with cheap coring rather than trenching??)

[book5] 07/6/2019 18:46

Eua suggested the authorities are not accepting the currently proposed cheap site investigation technique , this is coring, to justify the 0.165gr/cubic meter they need to justify mining

Rather than expensive trenching they are proposing coring, and trying to apply to it the nugget effect to get away with cheap coring rather than trenching??)

[charles clore] 07/6/2019 18:30

In short, we don't really know diddly squat do we!

[book5] 07/6/2019 18:21

Russianguru
I agree, we know very little of the Real reasons for the delay

[book5] 07/6/2019 18:19

I really don’t know
Perhaps they need enough A/B grade reserves closer to a washer plant for the contractor to be allowed to start working?
A/B grade reserves are well defined reserves,but they could be either low grade or high grade (without or with nugget effect).
I would appreciate if they would explain reasons for delay in deploying washer plants better, they are treating us as kids...may be?:)

[russiaguru] 07/6/2019 18:15

book - the only thing we know is that nuggets added an additional 65kgs last season

[book5] 07/6/2019 18:03

Ex
Does this means that without nugget effect they would stop the mining?
Or
Without nugget effect they would never stop the mining but it would be less profitable?
If the second option is correct? Why don’t have a second washer there already, just assume there is not nugget effect and then have a good surprise...,
Can’t really understand why there are not already more washer plants.
May be option 1 above is the likely reason? But we were told that is not the reason
Very confusing

[excellance] 07/6/2019 17:22

the thing is, the comparison between pre nugget effect assay results and actual mining grade results, may appear to be merely a six fold improvement, however, it isnt as simple as that, because it also applies to ares that were formerly considered to be low grade, too low to be viable, hence allowed to go...and is that not why we reapplied for the flanks last year?

what i'm saying is, the grades may be 6 times higher, but the resource may be extrapolated to be hundreds of times bigger than published at the time.

i think that only applies to the pt and not gold, seems production at WK is about 1% gold, 5% iridium...not sure how that compares with expectations.


Platinum .....112,597g...£2,294,267
Iridium ......5,416g...... £30,101
Palladium .....418g ........£12,798
Rhodium.... ...654g .......£40,055
Gold ..........994g.......£196,108
----------------- ----------
2,573,329

[excellance] 07/6/2019 17:12

book, we cant target any more than last year because we have to use existing data, and that data was proven to be wrong, hence the coming upgrade, but the authorities wont give an upgrade until they see the grades coming out of the ground now and analyze them. i dont know how much they have to mine to compare with former pre nugget effect drilling results before they can say categorically what the grades are.

[book5] 07/6/2019 17:08

WK had recently a disappointing low production target for this year and I don’t fully understand the reason why we are not targeting 742 kg this year as originally forecasted by broker report.
No good, we need to live with it for now
Future could be much better though , hope so

[excellance] 07/6/2019 17:05

"MT is still a black hole of no dates or deadlines"

true, but i think WK revenues are what we are using to fund the MT work program, and we can only do what we can afford to do, so a strict schedule could never really be drawn up, other than it has to be done within 2 years...

so yes, "a black hole" i suppose, but work is progressing, WK is generating the cash required, and the company has demonstrated that if we really need the cash then a placing is always an option...and maybe it'll ne a reality if we dont get that second wash plant in the next 7 or 8 weeks!

at WK i am of course cautiously optimistic that we will get the approval, the upgrade, and improved production, productivity and efficiency, and maybe an increase of the pt price as well to help us hit our meager targets.

[book5] 07/6/2019 16:59

Russianguru
Re Mt , we have a clear short term objective bcs,
We are making a report that is required by the authorities (it will s a statuary requirement) and needs to be submitted within one year of the mining permit issue date, i believe it is a new resource study.

AB or anyone is this a resource study? What is it purpose? Upgrade the reserves? Define them better? Is there any risk what it may say?

I would imaging we want it done asap, I think it started some months back, so we may hear from it any time now??? Eua knows the internal deadline to produce it

Don’t like when share price underperforms

[russiaguru] 07/6/2019 16:49

We dont have much significant news on the horizon apart from the WK approval.

MT is still a black hole of no dates or deadlines, apart from the 2 year Sinosteel one.

[excellance] 07/6/2019 16:47

was considering buying today, but to do so i would have to cut into other things, so even at 49 i am reluctant because i don't have free cash, but if this drops any more i will struggle to resist.

45?

i think we will see a week or two of waiting, maybe 3 or 4 weeks, and that quiet normally brings opportunity, but i'll sit on my hands for now, wait and see, i think 45 to buy may be a little tight.

meanwhile gold at £1054 is on the verge of breaking out, just cant quite get thru the resistance, but if it does then other precious metals are sure to follow. silver after looking particularly cheap seems to be turning...pd looking robust, pt still weak.

[russiaguru] 07/6/2019 16:35

ex - not just yet - waiting for 45, then sell at 625

WK flanks approval the driver

[excellance] 07/6/2019 16:33

so guru, at 49 are you long again?

[ekuuleus] 07/6/2019 15:38

tear end - is that a Freudian slip?

[russiaguru] 07/6/2019 15:28

snowman - by 2022 you could be right, although 5p more likely

[snowman100] 07/6/2019 15:25

I'd like to revise my tear end estimate from 18p to 20p.

[aidenabettin] 07/6/2019 14:03

And now double the shares in issue and half the mkt value.Its not rocket science

[mostyn] 07/6/2019 13:51

In July 2015 Eurasia briefly reached a market cap of around £22M on the then 1.239BN shares in issue, on the announcement of the mining licence for West Kytlim. Today, and in production at West Kytlim, we sit at around £12M. We also now have a mining licence and EPC Contract for Monchetundra which we didn't have then. The market is all about sentiment and very little about logic.

[mostyn] 07/6/2019 13:36

CC, possibly, but I wonder how many on here would now revise down their year end target on driver's list, based on current expectations.

[charles clore] 07/6/2019 13:28

Could be expensive to ignore