What’s your big gamble? (Volume 3)
Discussion
k you EUA"Luke. said:
Alright, quick question, why are you all in EUA? A, dodgy Russian number doesn't seem hugely appealing.
It's the amount/ratio of Palladium as it's up there with the best in the world i believe? so lots of known resources but obviously not without some risk and a unknown timeline until any reward. Some see it as a almost dead cert for some reasonable gain. 
Luke. said:
Alright, quick question, why are you all in EUA? A, dodgy Russian number doesn't seem hugely appealing.
As i understand it, there is a EGM this Wednesday coming to allow board to alot shares (grease some wheels...) Its hoped the sale/something may happen after that.EUA is a global 1st class resource - options on other mines in local area, platinum price at all time high and expected to rise, enough resources to mine for 10 years, open pit, close to roads/ports, competitors mine out of action due to flooding.The short of it is plenty of LTH think it will be worth 100p to 250p at sale. Some on LSE even think 500p! Ive bought at everything from 20p to 43p and avg at 25p.... Id be happy with 50p, 100p fab
Also - not a dodgy Russian number. British mining company that has been around for quite a while, seem to do things by the book.
Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
SimonTheSailor said:
Also - not a dodgy Russian number. British mining company that has been around for quite a while, seem to do things by the book.
Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
Hadn’t heard that. How do you know DLA Piper are working on that basis?Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
SimonTheSailor said:
I'm sure that's been quoted over on the LSE forum.
I could of course be talking complete b*llox or maybe just trying to convince myself there's a real good reason to stay in.
surely no expensive lawyers would work for no sale no fee? although i admit i have no idea but wouldnt have thought that was the done thing in corporate circles?I could of course be talking complete b*llox or maybe just trying to convince myself there's a real good reason to stay in.
Adam. said:
SimonTheSailor said:
Also - not a dodgy Russian number. British mining company that has been around for quite a while, seem to do things by the book.
Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
Hadn’t heard that. How do you know DLA Piper are working on that basis?Have some very expensive lawyers in place who are working on a 'no sale no fee' basis who are specialist in big £ company sales. (this is what is keeping me in the most as I don't understand the rest of it..........).
and you are probably getting mixed up with the two major banks (including UBS, the largest swiss banking group in the world) that are dealing with the sale on a no sale no fee basis.
This is confirmed in an interview with Dmirty Suschov from Eurasia ( who has a direct holding of 190,270,430 shares and a controlling interest in Deloan Investments Limited which owns 275,377,066 shares in Eurasia Mining) on Youtube- channel 121 mining TV , uploaded 21 June 2019 who confirms they have been approached by several companies wishing to purchase Eurasia and they are open to offers.
He also says they are still developing the assets of the company and " we will not be rushed into selling to the first bidders but will give time to maximise the value of the company for all our shareholders"
The Board said they expected the deal to have concluded before now but we found out a week ago that they have done a huge deal with a state owned company to have rights over 75% of their mining assets, which has obviously accounted for some of the delay.
The EGM on Wednesday 28th is to approve the Board having power to allocate shares to whomever they wish in order to get the deal done ... ahem.....perhaps because there is closer scrutiny of the selling-off of State owned assets these days in Russia but if you give 75% of them to a private company who can then issue as many free shares in their company to many Cayman island registered companies without problems - just an theory
this clearly indicates to me that the deal is expected to happen in May otherwise they would have waited until the AGM in June and done the vote then.
So this is clearly not an easy deal and as Dmirty said, it is a once in a lifetime opportunity for the company which has been operating for 25 years....
also for those who keep posting - "surely the current share price reflects what the company is worth so the sale price is going to be close " - clearly not if you are negotiating what the next 20 years worth of production is worth now.
Imagine Bentley saying - We will sell you the next 20 years of production for you to sell in the future but we want paying for it now"
What will the retail price be of a Conti GT be in 2030 or 2040? It's a guess, but you wouldn't give Bentley the full price now if you don't get to sell it for 10 or 15 years. So you might only give 20% of the value now.
So it's a negotiation.
The SP currently reflects the limited current production and some expectation of future earnings. What it doesn't reflect is 20 years of assets still in the ground which is what any buyer will have to pay for.
The current SP is irrelevant and worrying or whining about it is pointless in my view.
I await patiently for the BOD to bring those of us invested the best deal possible , hopefully in May.
Well said GPH, that seems the long and short of it... but who knows what weird (and loss making) twist may lay ahead of us, so can't count our chickens just yet.
The thing that worries me most about this stock is the last time I was deep in a share you were advocating (AMGO) the ferker went t*ts up (last summer) ! Only teasing. I'm severely over exposed to EUA. Something is going to happen in May.... I can't help but feel they will announce they will mine it themselves. I'd rather have the jam today than extra jam tomorrow though.
The thing that worries me most about this stock is the last time I was deep in a share you were advocating (AMGO) the ferker went t*ts up (last summer) ! Only teasing. I'm severely over exposed to EUA. Something is going to happen in May.... I can't help but feel they will announce they will mine it themselves. I'd rather have the jam today than extra jam tomorrow though.
MikeStroud said:
The thing that worries me most about this stock is the last time I was deep in a share you were advocating (AMGO) the ferker went t*ts up (last summer) ! Only teasing.
Ha Ha! only the bloody thing hasn't gone tits up though has it! I sold out at 10p which was a 1p loss for me to get into EUA in December as it was expected to sell before year end and here we are 5 months later and Amigo is still alive and kicking and up at 17p! I'd be up 50% if I had held ! but I will only be bitter if I don't make at least 200% on EUA.
the AMIGO train has a long long way to travel yet so still time to jump back on board if the settlement fund is agreed by the customers - which I see as turkeys voting for Christmas but they may just get away with it because unbelievably on the Amigo website it actually says they Will go bust if this scheme is not voted through!
Not May but Will , which is simply not true as they don't know yet but they are trying to scare people into voting yes.
Mmmmm tempted by a bit of Caerus Mineral Resources (CMRS)
FFWD to 17:30m
https://www.share-talk.com/zaks-sunday-roast-25th-...
FFWD to 17:30m
https://www.share-talk.com/zaks-sunday-roast-25th-...
Mr Overheads said:
eSports
Anyone hold any shares in the eSports sector? Semper Fortis eSports lists tomorrow and featured in Sunday Times today. Atari founder, Nolan Bushnell on the board and ex Football League Chairman Keith Harris
I’m in #BLU for a few grand. Tiny market cap but I like the sound of the director and they give me some exposure to esports and blockchain too. Exciting company, imo. Anyone hold any shares in the eSports sector? Semper Fortis eSports lists tomorrow and featured in Sunday Times today. Atari founder, Nolan Bushnell on the board and ex Football League Chairman Keith Harris
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