Euro.Mins. Share Discussion Threads

[ukgeorge] 28/12/2007 17:56

$1.43 or 72.2p In canada.

[ukgeorge] 27/12/2007 16:46

:) nice to get the news finally. looking forward to q3 08 results when we are full speed. gold is performing well $830 when i last looked.
steady rise up and above 100p would be nice

[mikehardman] 27/12/2007 15:35

milestone reached :)
1st gold pour at Varvarinskoye (actually 22dec07),
will ramp-up to 4.2m tonnes ore by Q2-08

[hectorp] 21/12/2007 19:44

Decent rise here today- is it the one day Xmas rally however.
H.

[ukgeorge] 21/12/2007 15:57

$1.29 in canada or 65p end of there tax selling should rise from here on

[simon54] 20/12/2007 20:40

It's often fun to follow the trading on TSX-listed shares, which typically seem to me to show the 'classic signs' of technical movement, capitulation etc. more obviously than AIM-listed equivalents. We shall see!

[ukgeorge] 20/12/2007 20:31

6.4 million now, i dont think it was a forced sell either the price would be down. but i think it is the bottom instead, last time volume was this high was september 06 and the price hasn't fallen below that price since.

[chipperfrd] 20/12/2007 16:56

I think it more likely that it was a forced seller. Could be why there has been a steady fall of late. Price has certainly picked up with that trade out of the way.
Chip

[ukgeorge] 20/12/2007 16:38

decent buy today in canada 2.5 million shares in one deal.

[ukgeorge] 19/12/2007 21:36

still falling in canada but luckily so is the candian dollar. i want to add more bets but know i shouldnt.

[ukgeorge] 19/12/2007 10:29

hambledon mining have announced their first gold pour is coming on 26th of december. can eum beat them to it?

[ukgeorge] 17/12/2007 20:38

fallen of a cliff in canada

[ukgeorge] 14/12/2007 16:22

well i've got far to many eggs in this basket added 1775 more today. Hoping the gold pour announcement is on monday. silly people selling at 60p today when 17million were bought for 62p. im still confident in these for next year.

[gisjob2] 14/12/2007 13:50

Thanks for your comments ukgeorge & chipperfrd. Much appreciated

[chipperfrd] 14/12/2007 13:33

gisjob2,
Hedge = 443,000 oz @ $575/oz

When they reach full production they should be achieving the following:

Annualised gold production = 150,000
hedged oz = 75,000
spot oz = 75,000
gold cash cost = $261/oz
Copper production = 26m lbs @ cash cost of $0.4/lb

At $800 gold & $3 copper total revenue = $181m
Cash costs = $50m
EBITDA approx $125m

Chip

[ukgeorge] 14/12/2007 13:23

the hedged gold arrangement had to be put in place because of the financing. the price they received at the time was the highest $575 an OZ, that had been achieved by any company. in total as i understand it they have hedged a total 0f 400k OZ (75k a year) which is 20% of the current mines gold.

i understand your concern with rising cost and falling copper prices. when they decided to go ahead with this project it was done with very low metal prices so there is quite a lot of leway. the cost of production for the gold if the copper is taken as by product is going to possibly be negative, so even though some of the gold is hedged there is likely to be a good profit margin.
there is also the unhedged gold which will obviousy get spot price.

i also have some mercator and think they have a good future with the asx listing next year and the euro project as a bonus, but i prefer these.

[gisjob2] 14/12/2007 12:47

I am thinking of investing here but can someone tell me there thoughts on the hedged gold arrangement they have. I know it's not for a massive amount but with a falling copper price and increased overheads of all miners isn't this hedged gold going to produce very little profit. I own shares in MCR which are hoping to sell gold at around double the cost but have admitted to increasing costs. If they are saying they hope to make $400 on a gold price of $800 but this may be eroded a little due to spiralling overheads that all miners face. Then isn't the hedge here going to mean a really poor return.

[ukgeorge] 13/12/2007 14:50

Wed Nov 7, 2007
Varvarinskoye Update

--------------------------------------------------------------------------------

London, England


Plant Commissioning has Commenced
One Million Tonnes of Ore on Stockpile
Drilling for Additional Mineralisation Underway

All good things come to those who wait.

[ukgeorge] 13/12/2007 14:48

The Company plans to begin introducing ore into the process plant by mid November 2007 and this will mark the commencement of "hot" commissioning. This phase of the staged commissioning will continue through the winter months with the objective of gradually building up the daily throughput tonnage until the process plant reaches its design rate of 4.2 million tonnes of ore per annum. The Company expects to achieve this initial annual throughput rate during Q2 2008, assuming no delays are experienced due to winter commissioning. The commencement of the "hot" commissioning stage by mid November 2007 should result in a first gold pour before the end of December 2007.

Im starting to wonder if they will wait untill 31st of december to say "oh yeah we have been pouring gold". But im hoping next monday.

[chrismisson555] 13/12/2007 09:12

Do we have any strong indicators as to whether they will start gold production this month?

[ukgeorge] 12/12/2007 16:56

bit old but nice reasuiring read
James Winston: European Minerals (EPM,TSX) (EUM, AIM) First Gold Pour by Year End

File:
12 KB, approx. 3 seconds at 56.6Kbps

[ukgeorge] 10/12/2007 13:02

tick, tock, tick, tock, few days closer. My guess is next monday or wednesday for the announcement but won't mind if it comes earlier. hope they get some good press.

[ukgeorge] 06/12/2007 20:18

up a reasnoble amount in canada very close to breaking down trnend this should motor all the way to 100p and more.

[ukgeorge] 05/12/2007 14:01

I think this is the bottom for this share and think it is going up from here on. someone sold 571 at 62.5p thats the lowest and think it is going to start its march all the way to 150p then 250p and then higher in the mania.

$900 gold by christmas and gold flowing out of eum by next x-mas hope they arent taken over to cheaply.