Younger readers than myself may have to do a google on the track from the Little River Band but the reference today is Eurasia Mining (EUA) as we have yet another anniversary in the great bid spoof. This matters as Eurasia rapidly runs out of cash. This is a one year anniversary. To recap:
Back in February 2020 when Eurasia Mining (EUA) was trying its hardest to ramp its shares to the moon to allow its dodgy Russian backers to dump stock and for it to refinance, it paid the scumbags at ACF Research to produce a note which forecast that revenues would rocket to £341 million by 2021 by when profit after tax would be £160 million. Hmmm, today we had half year 2022 numbers and guess what? Have you got a microscope handy?
The other day, I served up evidence suggesting that Eurasia Mining (EUA) may not be able to get funds to its loss making Russian operating subsidiaries which could be a terminal event. I have now written to AIM Regulation begging it to force a clarifying RNS
Orsu Metals’ quote on AIM was cancelled on 19 August 2016. But it is still going and the read across from what it is going through looks to be devastating for the pin up girl of the Bulletin Board Moron community, Eurasia Mining (EUA).
On 4 December 2020, shares in Russia PGM promote, Eurasia Mining (LSE:EUA), hit 40.55p. Morons across the interweb, spurred on by blatant market abuse, pondered what colours their Ferraris would be painted. Today, the shares are just 5p, after dire finals earlier this week. There are two questions Eurasia must answer:
I shall serve up a more detailed comment on the piss poor full year numbers from Eurasia Mining (EUA) later but it is worth flagging up for Cliff Weight, the laudable ShareSoc supremo, and others the matter of the paid for research published on Eurasia by ACF Research in February 2020.
It is now seven and a half months since the supposed purchaser of Eurasia Mining's (EUA) assets completed its due diligence. There is still no bid. Today, All Star Minerals (ASMO) - a penny stock of which I am no fan - shows how it is done. This is an easy lesson for the morons.
How long does it take? In 2021, the annual report came out on 4 June; this year, it will be later. Natch, Eurasia (EUA) has an excuse. Despite claiming sanctions had no effect, it now states:
