Europa Metals Share Discussion Threads

[spec7] 12/10/2018 10:24

Agreed Andrea but if the asset is sold outright and the money reinvested i don't really want CB influencing where it goes TBH.

[andrea152] 12/10/2018 10:14

I am very wary of CB too, especially as his other 3 ventures, Jubilee, Galileo and Xtract, are not doing at all well and shareholders there are buying for blood.

Looks like he needs to pull a rabbit ot of the hat somewhere. Could this be EUZ or BZT ? I don't know.

I would be a lot happier if we could get a large, honest private investor on the share register , who could exceed Cb's holding and sway some votes, or even a small Institution, but until that happens, the BOd can do pretty much as they like.

To me, the real "Find" has been Myles Campion , who just works away quietly behind the scenes and gets things done. LR also seems to have had a new lease of life, now that he has a "Proper" job to do, rather than just farting around with "PR" - whatever that is !

Hedge makes a good comparison point with CAML, who bought a working Zinc/Lead mine, very similar to what Toral "Could" become and have been distributing free cashflow in the form of 7% p.a. dividends. That would be very useful, and I've seen it happen a number of times with other mining companies, which have been bought by the likes of "City natural Resources Inv Trust, which itself, pays a strong dividend.

For me though, I think Toral will get sold outright and then EUZ will move onto new Assets with the money raised. LR has hinted as much in various Podcasts. For me, Mid -sized Companies , such as Boliden or Lundin would be obvious potential purchasers, with Glencore as an outside bet.

IMHO. DYOR. GLA.

[hedgebetter] 11/10/2018 12:19

That would be good if it happens. Plenty of news to come. :-)

[edgein] 11/10/2018 08:41

I guess there's a possibility that we may see some of these metallurgical test results that will be incorporated into the advanced scoping study, before the full SS gets released.

Regards,
Ed.

[hedgebetter] 09/10/2018 22:50

Spec - since CB joined we have seen an increase in market cap, a rapid pace of delivery, a great work plan and team selection, and 3rd party visits on site etc. More than happy with his involvement. I want to see this get to mine because I would be very happy with a 30-50% free cash flow dividend policy like CAML. If they sell the asset then that’s also serious money for investors. Sure, watch it like a hawk, but also treat it like an investment that needs to be proved and matured. Patience will be rewarded imo.

[spec7] 09/10/2018 22:34

I don't have an issue with the date being missed, i told everyone it would be missed however i do have a slight issue with being told in a pod cast a week before they were due that they were on time when clearly they were not. Its a minor issue as it stands but anyone who doesnt watch this or any AIM like a hawk is a little Daft. Bird might only have 5% but that bought him a place on the board and his reputation precedes him :-)

[hedgebetter] 09/10/2018 22:21

Spec, you were unhappy when the Jorc was a few weeks late and we ended up with 16mt instead of 8mt! We are now at 19mt inferred and a work programme to improve resource classification. I am chilled because a few extra weeks is nothing compared to the upside of having an enhanced scoping study - and the RNS announcement that discussed a feasibility study - not PFS but a FS - which indicates an increase in pace not a decrease. Re-read it for the subtle clues.

Bird holds less than 5% of the company. The comment on the assets and proportion to revenue are irrelevant.

The company is in a far better position than 12 months previous. It has a cracking team with Addison guys, Berkeley Energia Guys and Myles etc. Laurence has excelled in explaining the merits of the asset. Comments that he missed the date by a few weeks and therefore there is an issue are not worth arguing about.

[spec7] 09/10/2018 19:15

Yes, i am watching like a hawk but cant say anything or i will be just derided as a deramper. Some things like the fact that we were being told that the SS would be out in a week via podcast then told later there was a 2-3 week delay don't ring that true. I cant believe they didnt know about the delay a week before hand ? but who knows ?
I am also trying to find out if Toral is sold, how the money will find its way back to shareholders and not just be "reinvested" in a Bird project. Its not clear to me that the company needs shareholder approval to sell the asset as its not a proportional part of any income at the is stage ?
End of the day as PI's we are just along for the ride and you can jump ship whenever you want but always remember this is the AIM and basically anything goes as its pretty much unregulated. :-)

[spec7] 09/10/2018 13:22

You offering :-)

[frankie83] 09/10/2018 13:11

There's around 2.5 billion in the ground ain't there? So 100million ain't a lot to pay....

[andrea152] 09/10/2018 12:06

Quite, Edge, but it's probably going to cost £100m to get it all out and that's the tricky bit to get right for management, as you will know, without giving the Company away to somebody else, at the expense of existing shareholders.

That's where the Management skill comes into all this - and CB & possibly MC probably have it - LR, has not yet really been tested. We shall see.

Personally, I expect to see some sort of JV or Farm-In with either Lundin or Boliden, but that IS my personal opinion only. (Glencore as an outside possibility).

IMHO. DYOR GLA.

[edgein] 09/10/2018 10:43

Summary of updated JORC (2012) Inferred Mineral resource estimate announced on 20 September 2018:

19Mt @ 6.9% Zn Equivalent (including Pb credits) and 24g/t Ag

720,000 tonnes of Zinc, Zn Price Used: US$2,500/t,
570,000 tonnes of Lead Pb Price Used: US$2,100/t
14 million ounces of Silver, Ag price used $17/Oz

Zn currently $2645/tn, Pb $1970/tn, Ag $14.40

That's a heck of an amount of money in the ground for a £7m company.

Regards,
Ed.

[hedgebetter] 06/10/2018 10:23

Thanks Andrea. It will be worth seeing if the SASA CAML opex costs per tonne via the CAML accounts work out as a similar proxy.

[greatfull dead] 05/10/2018 16:54

Hasta Luego.

GD

[andrea152] 05/10/2018 10:40

Even with Zinc at $2600/tonne, its still massively profitable, with average $1500/tonne Opex costs, for this type of mine, plus the lead, plus the silver.

Just a question of time and getting the right JV or Sale price package. Have no idea which way it's going to go , on the latter point, which will be down to Management Skill - the BIG unknown variable.

IMHO. DYOR. GLA.

[edgein] 05/10/2018 10:25

Spec,

Its a good time to have 720,000tn of contained metal at Toral for the zinc alone wouldn't you say.

Regards,
Ed.

[spec7] 04/10/2018 19:24

He usually clocks in most mornings after 10pm :-)

I wondered if he had seen this and thought it was current

Wood Mackenzie believed at the time it released its report that the zinc concentrate market would tighten in 2018. The analysts stated, “[t]he assumption is that developments in metal stocks and price will be coincidental with refined metal stocks falling below the critically low-level equivalent to 40 days of global consumption at the end of Q2.” Their prediction was for zinc prices to reach $4,000 in Q3.

[hedgebetter] 04/10/2018 19:13

Thanks Spec. I have seen that one - Andrea is referring to a Woodmac one today. Zinc has been rising quickly in the last two weeks....

[greatfull dead] 04/10/2018 17:51

Spec,

If you believe everything in podcasts then you have a point, I don't. I have my own conclusion as I stated in post #429. Agree to hype but then thats ADVFN bb and AIM.

ATB,
GD

[spec7] 04/10/2018 17:49

Hedge
I dont know if this is where Andrea saw it but it was put up here ma week or so back, i think that prediction was made pree the recent trade wars and Zinc price drop

[hedgebetter] 04/10/2018 17:32

Andrea,do you have a link for that? Thanks

[spec7] 04/10/2018 16:26

GD
The recent rise and fall in the share price was down to podcsts saying the SS would be ready by the 4th quarter or 1st Oct. that was my point.
It doesnt matter in the bigger picture anyway but if you don't give out dates you cant miss them. :-)
The only people to make money out of podcasts and BB hype are the MM's -)

[greatfull dead] 04/10/2018 16:21

True true.

I like the Donald Toupe. D Toupe does it all the time.

ATB,
GD

[andrea152] 04/10/2018 15:37

I see today that WoodMac are forecasting Zinc Price to go to $4000/tonne by End 2019, on End-user demand and restricted new mine supply, following the recent Zinc price retrenchment, itself largely created by Donald Toupe and the Chinese, to suit their own ends ! (which appears to have shot them both in their own feet).

IMHO. DYOR. GLA.