We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Euro.Mins. | EUM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 45.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 45.25 | 45.25 |
| Top Posts |
|---|
Posted at 17/6/2008 08:17 by strow Seems to me ,wary or not,this management team make people money-seems a safer bet than many others-even in the worst case scenario,investors seem to at least double their returns-even 100% over 5 years would be 16%+ per year allowing for inflation-not bad when one looks at average returns on the indexes over this time-my moneys in-they have some very good potential with the existing projects,one of which is producing and one of which is to be fast tracked to production-i cant be too wary about making money |
Posted at 22/5/2008 08:06 by p bear > massive spread - untradable at this levelmm watching their backs should anything thing big happen in Canada. In a way is good in keeping traders out and long-term investors in. |
Posted at 18/5/2008 10:14 by p bear > What dummies have 25% of their gold Reserves (not Resources) sold at less than $580.As part of its debt package, EPM had to take on a gold hedge of 443,000 ounces at a gold price of $574.25, equivalent to 19% of reserves. This does not concern me (now production figures in the last RNS cover the hedge) so much and here is why. EUM have come out with big reserve and resource estimate updates (plus Lero's gold). Basically the banks forced the company to use very low metal prices in its projections - it happens, but the crux of the issue is that EPM will continue to optimize its mine plan according to where metal prices are in reality. As EUM + Lero develop more reserves, as they open up the mine, the percentage of hedging of the mineable reserves will fall to less than 10% (of EUM ex. Lero). So the plant more than covers the current hedge and the actual amount hedged is much, much less than you state. I am not sure if blueskyes2 you work in the mining/commodities industry, but I do and I can tell you these kind of hedges are a necessary evil (or good in a falling market, which will happen one day (a hedge on $48k Ni was very welcome)) and got the mine financed in a very different market than today. Most resources investors are terrified of hedges simply because they don't clearly understand them in the content of the industry/finance. As commodity prices continue to boom and with the news steel LME contracts (plus others like Co mooted) we will see more and more locking in of prices. |
Posted at 18/4/2008 15:18 by ukgeorge suspended on aim thats why you are having problem. dilution 20%-30% kick in the balls but + cash to get going and potential for future projects. the private investor as normal has been screwed allways last to know, look at how lero price has risen as our share price fell, people obviously knew. |
Posted at 04/4/2008 15:05 by chrismisson555 Taken from Stockhouse--------- The most interesting and supporting posts are from Omni. He should be employed by EPM. Fuad is not really doing a great job, but maybe he is not allowed to do a great job. I have spoken with the company several times and i am supposed meeting them soon. We will see. I am in EPM for 1.5 yrs already and added more than once to my (our)position. I had remote buy limits in at 1,01 and 0,95.....all hit. How do I feel? Near to capitulation, but I feel like Omni and hope that patience will be rewarded. The only fear I have is that fraud or other irregularities might have taken place. In that case i am obliged to sell. Of course, no one will get info from EPM about that... my email to Fuad is included here, and of course no answer from him... " Hallo Fuad, Thanks for this (late) report. I hoped that my concerns would be diminished after waiting so patiently for a sign of live (information) of your company. Unfortunately I am disappointed by this profit warning. Restatement of figures is a poor show and it has probably to do with the gold hedge valuation, but again I (we) have to guess. I like companies who under-promise and over-deliver. You have a difficult job to do, because you (EMC) have to proof that your cy. can deliver. Banking on promise is past tense for EMC. My first reaction was to sell our complete holdings, but I don’t like to see a price below Can$ 0,50. My second reaction is that I still believe that EMC is capable of restoring confidence. So I hope that we can meet EMC management and/or that we can visit your plant in Kazachstan at some point. Fuad, we had a few chats in the past and they were reassuring. I hope that EMC improves the communication with the investors and that it gets more transparent in what is happening with EMC. I guess you have to deal with more investors like me, so if you have a spare moment next week, I hope we can speak about the developments. ------------ |
Posted at 02/4/2008 09:14 by strow Well the share price punishment is for the delay,but for new investors this is a great entry point-this is the start of a very exciting future for eum-has everything going for it |
Posted at 14/3/2008 16:27 by strow As usual its lack of newsflow thats causing the poor sentiment with these smaller ones-i think the initial confidence is waning as we have had no updates-i am so suprised that with all the problems they have been through in the past getting up and running/funding etc that they are not now being more forthcoming with investors re progress-it would at least be nice to have an update,if only to reassure that everything is ok-thats the problem i feel,that there are a lot of skeptics until such time as we get that update-when and if we do it should firm up a lot and when full production is confirmed with copper,it should go a lot higher-all in due course i hopeOnly a few more market days before march contracts close,but there may also be some tax loss selling,so not really in the clear until 5th/6th april from this point of view-not many losses to offset here -mms will squeeze those bets though |
Posted at 06/2/2008 21:14 by ukgeorge just sent them an emailwhen is the copper coming on line? when are you going to get some media attention? when are the assay results coming out, from drilling from last year? very nice pictures of some ice on the website but please tell investors what is going on. eg are gold pours taking place regularly. Hambledon Mining, Centamin Egypt and many other juniors share prices are doing a lot better than eum's and this shouldnt be the case what are you going to do about it. Best regards George long suffering investor. doubt i will get a reply. |
Posted at 04/12/2007 11:32 by ukgeorge spoke to investor relations on the phone today about this issue of 19.5million shares at 62p a share. It is apparently because a few of the managements mates hadnt got enough of an interest in the company and wanted to get involved, so instead of buying shares they thought why dont we just get them cheaper through a share placement. (sarcasm) and the reason i got of investor relations was that it was just in case they have any problems during hot commissioning. also it is all still on track for first gold pour within the next couple of weeks. |
Posted at 23/11/2006 00:55 by rambutan2 posted in canada recently...Growth Stocks Weekly www.gsweekly.com Performance: Year ended April 1996 116.9%; 1997 28.1%; 1998 36.4%; 1999 39.4%; 2000 180.9%; 2001 -50.5%; 2002 18.7%; 2003 28.8%; 2004 166.7%; 2005 28.2%; 2006 153.3% Junior Gold and Natural Resource Sector Report October 29, 2006 ____________________ Overlooked Emerging Producer UPDATE EUROPEAN MINERALS CORPORATION (EPM-TSX, EUM-London AIM) Weekly chart, High $1.44, Low $0.44, Last Trade $0.87 HIGHLIGHTS: · Construction now fully funded after $81 million equity raise & recent US$75 million debt facility · October 2007 commissioning expected with $50 million in working capital position · Very low $62 (US$55) market cap per oz of gold using base-case scenario · Production estimated at 145,000 oz/yr at US$67 cost per oz over 1st 5 years · Payback < 22 months at US$400/oz gold, US$1.10/lb copper · Life of mine operating costs expected to be US$237 per oz · Share price severely discounts NPV potential takeover target · Life of mine 15+ years Overview of the Varvarinskoye Project The 100% owned Varvarinskoye project is a gold-copper deposit in the development phase. The project has current resources of 3.8 million oz with proven and probable reserves of 2.34 million ounces of gold and 269 million pounds of copper at metal prices of US$375/ounce for gold and US$1.00/pound for copper. The deposit has simple metallurgy, strong economics and potential for expansion, and is expected to treat 4.2 million tons of ore per annum with a waste to ore stripping ratio of 4.17:1 and has a current mine life of 15 years. Varvarinskoye is in a rural area close to the industrial city of Kustanai which has a well established mining services sector. The area has excellent infrastructure including roads, railways and power close to the project. Water is readily accessible and the flat terrain and mining culture in existence are considered positive attributes. The climate is dry hot summers (average 20°c) and cold snowy winters (average -15°c) which has been taken into account in the plant design, construction schedule and operating plan, and allows operations 24/7 for 358 days per year. Gold Hedging Facility A gold hedging facility implemented in December 2005 remains in place. The company sold into the hedge a total of 443,000 ounces of gold at a price of US$574.25 per ounce. The hedge is in the form of a monthly US dollar flat forward un-margined gold sale facility for the eight year term of the project debt facility. The 443,000 ounces hedged represents 50% of the gold production scheduled during the term of the debt, but less than 20% of the reserves at Varvarinskoye. The implementation of the gold hedging facility satisfied a condition of drawdown of the debt facility. Kazakhstan The Republic of Kazakhstan is a landlocked country in central Asia and the second largest (after Russia) of the former Soviet Republics. It is geographically diverse, comprising extensive grassland, semi desert and mountainous areas. It is bordered by Russia, China, Kyrgyzstan, Uzbekistan, Turkmenistan and the Caspian Sea. The population of 14 million is highly literate and well educated. The country has good infrastructure with a well developed national grid and network of all-year roads, railways and airports. Kazakhstan is a stable democratic country and is considered a "model transition economy" in gaining its independence from Soviet centralized command economy to become a free market economy. The country is headed by Nursultan Nazarbayev who was re-elected in 2005 for a seven year term. Under Nazarbayev's presidency, Kazakhstan has made significant progress towards developing a free market economy. The country has a friendly foreign investment climate and is a member of the United Nations, the World Customs Organization the Organization for Security and Cooperation in Europe among others. Kazakhstan is also an observer at the World Trade Organization and an active participant in the North Atlantic Treaty Organization's (NATO) Partnership for Peace program. Minerals Resources in Kazakhstan Kazakhstan possesses significant mineral and metal deposits, along with fossil fuel reserves; its industrial sector is based on the extraction and processing of these natural resources. Since gaining its independence in 1991 after the break up of the Soviet Union, Kazakhstan has experienced rapid economic growth, mostly attributed to its natural resources. According to the EBRD, Kazakhstan's GDP grew by 9.5% in 2004 and was projected to grow by 7.0% in 2005. The economic expansion is due to increased production of oil, minerals and other commodities, supported by high oil prices and rising foreign investments. Mineral resources include the world's largest chromium, vanadium, bismuth and fluorine reserves. The country is also a major producer of iron, coal, uranium, lead, zinc, tungsten, molybdenum, borates, phosphorite, copper, potassium and cadmium. It ranks third amongst CIS countries in terms of gold reserves, and is the eighth largest copper producing country in the world. Almost all gold mining companies and properties have been fully privatized in Kazakhstan, the only country within the former Soviet Union to have done so. This allows gold doré and gold-copper concentrates to be freely exported and sold. The laws of Kazakhstan have established a single investment regime for both domestic and foreign investors. The country guarantees stability of contracts where investors enter into contracts with Kazakh State agencies, with the exception of a change of law intended for national or ecological security, public health or morality, or if it affects the procedure or conditions of import, production and/or sales of excisable goods. Kazakhstan's bond rating has recently been upgraded by Moody's to BAA3 with a positive outlook, which is similar to Mexico. Compelling Takeover Target The abrupt turn up in the fortunes of world commodity markets has reflected a confluence of factors on both the demand and supply sides of the equation. Over the past decade, demand for most commodities picked up strongly, owing to rapid industrialization of China, India and other developing economies. In contrast, the supply of commodities lagged behind, constrained by cuts to exploration budgets in the 1990s. Accordingly, supply-demand balances for many commodities have tightened significantly. Other global factors also swung in support of commodity prices, including a structural decline in the U.S. dollar and the rekindling of global inflationary pressures that provided a boost to real asset prices. We are seeing a global move towards consolidation in the resource and gold sectors at a time when most groups are generating surplus cash, adding significant fuel to the process. So far, M&A activity has largely been restricted to the top end of the market, as we are still living off the successes of previous cycles from 10 and 20 years ago. While there has not been much focus in the mid-cap and small cap area yet, inevitably the increasing buildup of cash and the lure of deeply discounted discoveries and ready-to-deliver projects with technical and financial risk removed will prove to be an irresistible draw. European Minerals qualifies as a timely acquisition target for a mid-tier growth-seeking producer. It has been estimated that as much as $100 billion in investment funds have been directed into commodities worldwide over the past few years. While an improvement in fundamentals got the ball rolling in 2002-03, the momentum has been sustained in part by growing investor enthusiasm. Notably, the commodity market has also become increasingly attractive to large institutional investors such as hedge funds and pension funds in view of abundant liquidity, declining relative returns on fixed-income investments and the launch of exchange-traded funds (ETFs) and other investment vehicles that have facilitated direct investor participation in commodities. While volatility can be expected, the trends are strong and likely to continue. Technicals & Summary With European now half-way through building their mine, investors have an opportunity to lock in returns with the geological and financial risk virtually eliminated. Post-financing, and with little promotional news to keep investor interest, the share price saw a severe drop to 50% off recent highs where a double-top spike telegraphed a warning. Price found support on its long term uptrend line at around $0.70 and has started to lift, now flirting with resistance at the $0.90 area. The company is substantially undervalued given its development-stage, compared with gold companies' average market capitalization per ounce of gold reserves and resources at about $120. European, with a market cap of roughly $236 million at 87 cents, and 3.82 million ounces in reserves/resources, has a market cap per ounce of only $63. This is calculated with European's base case scenario, with gold valued at $375/oz and copper at $1 per pound. Metal prices are obviously a lot higher now, leaving substantial inherent upside for patient bargain and value investors. One near term event that may spike investor interest early is a new development plan and scoping study is due out over the next month or two. This will likely provide a higher base case valuation. In addition, the Varvarinskoye orebody is actually designed with several mining pits that, with higher metal prices, may end up being combined into one big pit, thereby further increasing project economics. as was this Aton comment... 8 November 2006, Wednesday European Minerals. Site visit confirms continued progress European Minerals yesterday reported neutral 3Q06 CA GAAP results, including a net loss of $2.1mn, which is an improvement of 11% on the net loss of $2.4mn the company posted for 2Q06. SG&A costs fell 40% q-o-q, mainly due to stock-based compensation of $1mn in 3Q06 compared to $2.8mn in 2Q06. However, the company reported a foreign exchange loss of $0.3mn (following a gain of $1mn in 2Q06). The company reported capex of $18mn for the development of its Varvarinskoye gold/copper project near Kustanai, which pushed the company's cash position down to $21mn at end-3Q06. Subsequently, the company secured $75mn in financing. Our visit to Varvarinskoye last weekend reassured us the project is coming along well, despite the company's recent announcement that the plant's commissioning has been delayed. All of EPM's mining fleet was on site, continuing with pre-stripping and preparing the ground for the stockpiling of ore. The trucks consume about 15,000 liters of diesel per day, using fuel purchased at $0.50/l-$0.70/l from refineries in Russia (2.5-month bulk purchases). Civil engineering work on the water storage and tailings dam is nearing completion. A newly constructed 70km power-line will provide electricity at 2.8USc/kWh (under a fixed-price five-year contract). A delay in the delivery of structural steel from Russia pushed the installation of plant equipment back to April 2007. Although this November's unusually mild weather (as the pictures show) allowed more work to be done on site, the lack of steel beams means the plant is unlikely to be completed before October 2007. As of end-October, European Minerals had spent a total of $95mn on the project and plans to spend another $63mn before the plant's scheduled commissioning in October 2007. We view the continued progress on site as positive and reiterate our Buy recommendation on European Minerals, with an end-2007 fair value of $1.28. and a new (november) presentation... |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
