Europa Metals Share Discussion Threads

[hedgebetter] 02/10/2018 07:42

We won’t

[simoore89] 02/10/2018 07:17

Anyone know when we are likely to run out of cash?

[hedgebetter] 01/10/2018 12:20

They are currently applying for a new permit at Lago but I expect that will be looked at after we are some way along on Toral and have plenty of cash to look at it closer. Focus is the name of the game here. Get Toral to mine or sale.

[edgein] 01/10/2018 11:34

Andrea,

There is the possibility to JV or sell Toral to a large company, they would then have hands free to get other European assets.

Regards,
Ed.

[edgein] 01/10/2018 11:33

Well hopefully they'll move away from iron ore and the new name suggests and stick to Europa metals, not African assets. Copper/Zinc/Lead/Nickel in Europe would do the trick here. While most of the focus goes onto Toral. If they could get a large company in for a JV that would be excellent and likely a large carry. This one is like OMI only difference is its already got large JORC and a pretty much ready to develop very large project. In recent interviews that you don't like he did state they were talking to third parties and most recent interviews hinted at buyers, but SS first.

Regards,
Ed.

[andrea152] 01/10/2018 11:30

Toral is the big one. Everything being concentrated there at the moment. Lago is likely to b pretty small, but hasn't been drilled at all (yet).

I wud B very surpised if they buy any new assets at this stage, unless they are already in production and can contribute revenue to the EUZ model. A bit like the SASA mine did for CAML ?

IMHO. DYOR.GLA.

[spec7] 01/10/2018 10:04

I wonder what will happen with Largo ? i also note they say they are actively looking for further assets.

[edgein] 01/10/2018 09:37

Hedge,

We'll just have to wait and see. Personally I'd rather see them just do shallow infill holes rather than see what's at depth. Perhaps one deeper hole at max just for a peep. The more shallow holes they do the better as that will get more into the measured and indicated, getting tonnage up beyond 23Mt with a 3% cutoff would be good for LoM, but its better to firm up reserves at this stage. Especially if they do go ahead and sell this potentially world class discovery, the more in M&I the better.

Regards,
Ed.

[hedgebetter] 01/10/2018 08:48

That’s an interesting point - priority intersections only. I see what you mean. They also remain open at depth and I wonder if drilling the core to increase resource confidence will also go deeper. Deeper when they remain open could also discover further mineralisation - and in a high grade area.. the mind boggles at how big this resource could actually get.

[edgein] 01/10/2018 08:02

Its interesting to see from today's announcements that when they use a 3% zn eq cut off the reserves are actually 23Mt. Looking forward to the updated SS later this month, as you say hedge it'll demonstrate the value of this project to the market. Its also interesting to read that the re-logging occurred on priority intersections only:

"In addition, the Company announced that further to an intensive 6 week process, its new geological team had successfully relogged all priority intersections from the historical drill core from the Toral project stored at the National Litoteca, located in Andalucia, Spain."

So they could continue to re-log these extensive cores to increase the resource further. The priority cores increased the resource by 19%.

Regards,
Ed.

[spec7] 01/10/2018 07:29

Link to report today, nothing new just a round up of the past year. interesting to see MC and LR both own 112m so if they get this to 1p they will both be instant millionaires :-) good luck to them.

[spec7] 30/9/2018 22:28

I agree with all you say, i added last week at .15, i am still a bit skeptical but i see that as a healthy position to take, it keeps your feet firmly planted which is better than being away with fairies confusing caution with negative and dreaming of wealth with the SS.
If investing here has taught me anything its that its a little foolish to give out specific dates in timetables when 95% of what you are trying to achieve is up to everyone else from councils to solicitors, regional government and sub contractors...
Also that these things take years not weeks/months however your "long term' might be shorter than we think!" is entirely possible :-)

[hedgebetter] 30/9/2018 21:06

There was plenty of talk on LSE before the JORC was published that it was on it's last legs Spec. Same old 'Leopard and spots' comments' etc. As you know, LR vended in the Toral asset to FCR from MAFL and I am not convinced JT was the driver behind that (lucky) decision! :-)

Some rampers also came onto the LSE board as well with ridiculous forecasts of share price within a very short time-scale. They then disappeared as quickly as they came.

The market has many different types of participants and there are extremes of opinion in either direction. Patience is key here IMO, and concern about a SS being late is of no immediate concern in the longer time-frame. There are good reasons why the management want a little bit more time for the SS. LR promising by end of September, and repeating it was a lesson for him which he has held his hands up for. Fair play.

I said previously that the 'long term' might be shorter than we think! I continue to hold that suspicion. The SS comments from LR have not diminished that belief.

I also still believe there is time to take a position and benefit by a serious multiple. I have not changed my opinion on that. The asset looks to be world class. Further proving up of the asset will result in a mine (JV) with huge cash flow benefit to EUZ, or a sale.

Holding for the long (but maybe not so long at the pace they are moving) term .. :-)

[spec7] 30/9/2018 18:53

I dont think anyone thought it was dead hedge , Tooth was careful to buy Toral before he admitted the BFS was never started on Moonlight( after a year of making out it had been) it will be interesting now to see what happens with Moonlight now we gave it away for nothing and their is some major interest being shown (Suprise surprise)
EUZ is looking very promising but as you say patience will be rewarded. it does make me laugh when i read people on LSE declare they are happy to wait another 2-3 weeks as they are in for the long term :-) they have a strange idea of the long term :-)

[hedgebetter] 30/9/2018 18:35

Sounds like a big neon sign is being put up in the shop window. It says world class asset in a prime location with expansion possibilities for sale for a large chunk of money.

However, we also know the potential worth of the asset, even if some PI’s cannot figure out its value I am sure those wishing to buy it can, the board can, and so can I and others! The scoping study which will be more informative than most will also point us in the right direction.

The management team are cracking on and doing a fantastic job. 10 months ago there were guys on the bulletin boards thinking and shouting loudly that this company was dead. It’s about as opposite to that as you can imagine. It’s flourishing.

Patience will be rewarded IMO.

[spec7] 29/9/2018 19:40

Thanks Blackie,we will need to keep a close eye on Colin Birds involvement if it comes to a sale.

[blackss] 29/9/2018 11:53

Not sure how things like this work on the AIM as the rules maybe different Spec but it used to be the case that if a company sells assets outside the normal course of business, then there are percentage tests to dictate when either announcement on RNS and /or shareholder approval are required. Quite how the wealth generated from a sale transfers to shareholders is open to question.?

[spec7] 28/9/2018 17:31

Trouble is if they sell where will be then ? its a bit of a one trick pony at the moment although i suppose there is Largo ?
What would the position be if they had an offer for Toral ? would it go to the shareholders for a vote or could they sell on their discretion given its an asset and not the company ?
I just hope the update to "inform the market" is a proper update and not another podcast.

[edgein] 28/9/2018 16:52

For those too lazy to find the link here it is:



So update next week to inform the market where they're at. SS likely in the next few weeks and probably before the end of October once they get the metalurgical results in. He did say for those that may want to fund or buy the asset. Seems like a little early to sell the asset, but heck if its showing as many multiple times the value of the cap on NPV why not I guess.

Regards,
Ed.

[amaretto] 28/9/2018 16:21

I’ve listened to today’s podcast a few times and without doubt take it positively. Essentially, because of all the extra resource and the desire to be as robust as possible with the data they want extra time to include this new information in the SS.

More importantly, and this appears to be fundamental to their decision to delay, I get the impression they want to almost go beyond a scoping study and produce a document that looks particularly palatable to investors & potentially, more importantly, buyers. Optimisation appears to be their key aim, hence better NPV & IRR numbers, which appeals to both those audiences.

Key quote, “Do we just say, it’s a scoping study, it’s just a first pass or do we look at things so we could really determine what’s the best, best way of approaching this for people who might actually want to put money in it or buy it or help us develop it, not just a theoretical exercise in what rocks go where”.

They’re therefore fundamentally changing the nature of the SS from the traditional ‘first pass’ look at the project to something more akin to a pre-feasibility study with the intention of making it more interesting to buyers.

That’s a fundamental change in approach, which I see as positive. It’s likely to be a blinder of a document.

Plus whilst that is re-worked, the drilling continues.

Progress update next week and LR said that SS will be “done by October”, so he’s leaving himself the whole month.

That quote though says it all IMO; it’s not just a SS, it’s an advert or more likely, a ‘For Sale’ sign.

[spec7] 28/9/2018 15:26

RE: LSE...Its a basic mistake to get emotionally involved in a stock.
Today apparently the heard were let down by LR but its all my fault, like i care ? its a shame we cant get oiltap and Martina and a couple of others that know what they are doing over here and we could have a good informative well balanced thread.

[blackss] 28/9/2018 15:15

TBH i dont even bother to look at LSE but you shouldn't wind them up. you will end up no better than them.

[spec7] 28/9/2018 15:03

Hope you are hard at work there Blackie, i have done a bit of gardening, cut the grass and had a good laugh over on LSE :)its a hard life mate.

[rizler] 28/9/2018 10:46

Looks like LR is going to be on another Vox podcast today