Eurasia Mining Share Discussion Threads

[ekuuleus] 16/9/2019 09:12

time to revise year end estimates

I seem to remember a few negative comments on 0.8p prediction.

[mostyn] 16/9/2019 09:09

I think I would prefer a large mining company with significant operating cash flow to buy Eurasia rather than a company which is not in production. The last stake we sold was the West Kytlim transaction which we sold for peanuts.

[russiaguru] 16/9/2019 09:01

Looks like heavensent could buy into Mt via Lesego to expand into pd.

Lesego don't seem to have done much with their 50moz so maybe more of a resource holding company.

Wonder what price eua bod would sell for or ar least a stake.

[book5] 16/9/2019 08:58

They could give shares

Or they are spinning : the south Africans may have come to learn from us
Who says they came to buy us?

[book5] 16/9/2019 08:56

Mostyn
Here you are!
Good find

[cyberbub] 16/9/2019 08:56

Churakov has been given gratis 65M shares worth £300k at today's share price But like a supermodel I doubt a Goldmans exec would get out of bed for that amount. He will be expecting it to go to 5+ times that amount in the foreseeable future.Point taken that Lesego are not in production yet. Who exactly are their Chinese backers? Would they go against another Chinese backer at MT? Would the Chinese govt disapprove of such competition?

[aidenabettin] 16/9/2019 08:53

Who is in control of MT as the holding company(BVI) was liquidated by the Moscow authorities. Did EUA ever give an update on that event?.This has only ever been a laundry and will be given away for a few coconuts imo

[mostyn] 16/9/2019 08:49

Lesego platinum looks to be at the same stage as Eurasia.

From website:

"Lesego Platinum has enviable PGM resources containing significant copper and nickel. With around 50 Moz at an impressive grade of over 5.5 g/t, together with an orebody starting a mere 350 m below natural ground level, it is planned to develop a low cost, long life, safe and sustainable operation."

It could almost be a statement from Eurasia, except that Monchetundra is a much smaller project. Looks to be backed by Chinese money.

In the event of a sale it doesn't have the feel of a company likely to pay the sort of money many on here might hope.

[drh3] 16/9/2019 08:49

Is the 55kg to date on 100% to EUA?

[cyberbub] 16/9/2019 08:47

I agree a transaction is incoming, for WK or MT or both. We'd always said that a fair and rational price for a massive mine like MT, fully permitted and with a genuine fully-financed path to production (*which is effectively a competing bid*) should see a minimum of 4p per share coming to EUA shareholders. Could that happen within the next few months? The introduction of Lesego into the picture is surely a glaring and blatant "for sale" sign. Even if someone takes us out for a song, it will still be a 5-bagger from today's SP, IMONAI

[russiaguru] 16/9/2019 08:44

Well finally strengthing the board and a South African miner taking a look, Mt money close to release and Wk 100% next year

Turning around nicely

[lew stules] 16/9/2019 08:44

The unfortunate part in my view is that we are being set up for sale to a third party and due to the current share price this is likely to be sub 3p.
Enough for the directors maybe but many here hoping for more.

[block4gooner] 16/9/2019 08:42

I will take 10p and a takeover. I'd like 30p but will settle for 10p

[pennstreet] 16/9/2019 08:39

Indeed, why would DS be offloading a chunk of his investment to this new guy? A corporate action awaits in the wings - I just hope we don't get taken out for a song!@

[abrahe00] 16/9/2019 08:38

@Cyberbub: Only a few weeks ago the CEO was telling us that production was "satisfactory", based on his own 100kg target. I suggest production to date is in fact VERY unsatisfactory, unless he is satisfied with failure to meet their own targets.

The contractor is walking away and has clearly declined to invest in a second washplant this year. Taking over operations next year will be very costly, requiring significant capital expenditure.

Doesn't anyone else see the irony in their statement? All the investment and work they put into increasing production has actually resulted in a reduction! So, why did they bother?

[book5] 16/9/2019 08:37

wk
I believe :
-last year grades were a exceptionally high
- we are going to ask for a serious loan to buy plant. And this is possible due incoming reserves report , which works sdv a bankable feasibility study

[lew stules] 16/9/2019 08:35

Why would they bring on a new board director and give away over a million pounds worth of shares unless there is potential to bring value to the table whatever that may be.
We don't know the full story here yet but bringing MT into full production or a takeover at a significant premium to the current share price is now a given IMHO.

[excellance] 16/9/2019 08:32

Lots going on here...

Yes, production is lower than we hoped, but clearly there has been significant development going on, and my guess is that the contractor has been disrupted or disruptive, so taking 100% control clears the way...presumably for a sale.

Even the wording of the rns is different, written by a different person.

Eurasia is now in transition, a sale is very obviously going through right now.

[pennstreet] 16/9/2019 08:32

Sounds like you're looking to add, Abe !

[abrahe00] 16/9/2019 08:27

@Stu: Whichever way you look at it, their claim was disingenuous. Just like all their other claims of "the world's biggest alluvial Pt producer" etc etc.

The only saving grace is the fact that EUA should be getting some money from SS by the end of October. Just how much exactly, we don't know and they won't tell us.

This is assuming that they haven't ballsed that up too and SS don't have a case for walking away.

[cyberbub] 16/9/2019 08:27

I think people are being too pessimistic. 55kg is disappointing but there are still a few weeks of production so it should be 70kg+ for the year I would hope? Plus next year it's 100% ours, and if the new director has assisted with process improvements then it will surely be a bumper cash flow from WK? An alternative to "the contractor walked away" is "EUA terminated the contract because they don't need them anymore"?I note the further reiteration that Eurasia's capital contribution to MT is paid for... No dilution! Massive cashflow not too far down the line!GLA NAI

[book5] 16/9/2019 08:22

Directors are bringing a well known expert to sell Eua
And the expert have accepted shares!!!

Thus is very encouraging
Common eua we need 100% increase today

[stuart143] 16/9/2019 08:18

Abrahe00 it doesn't say grades aren't higher just what they have produced to date.

FWIW if they are mentioning buying equipment and no dilution (maybe) then it could be the production to date does contain higher grade material however a simple line in the news could have covered that point.

Bottom line sharks are circling

[book5] 16/9/2019 08:14

Big spread
At WK
To me glass half empty, It seems wk contractor can’t make a decent profit and sold plant to Eua
Let’s hope Pt keeps recovering and makes WK more desirable
next reserve update should be better than last one

Our quest for richness is viable , however now it relies much more in MT than WK

[abrahe00] 16/9/2019 08:13

The fact that they decided to release production news under the guise of a "director appointment" RNS says it all really.