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:
How many times have I written to AIM Regulation about Eurasia Mining (EUA)? Here we go again...
It is now seven months and two days since the supposedly credible buyer of the assets of Eurasia Mining (EUA) completed its due diligence but still there has been no offer. How long can AIM allow this farce to continue? A proper bidder makes a bid and formalises it as soon as DD is done! Meanwhile perhaps we might get clarification on M&A head honcho Dmitry Suschov.
With yet another hat tip to reader J, I bring you evidence that, on Wednesday, Eurasia Mining (EUA) deceived investors with regard to its new “Independent” non-executive director. Proper companies simply do not behave in this way.
With a hat tip to reader J, here is another red flag. That is to say, Eurasia Mining (EUA) deceiving investors with the first RNS, after its utterly unexplained share suspension.
On Monday 16 May at 7.40 AM, shares in AIM listed Bulletin board darling Eurasia Mining (EUA) were temporarily suspended at just under 8p “pending an announcement.” At 6.18PM on Tuesday 17th (today) came that announcement. Eurasia “confirms it has no material new developments to notify” and so trading will resume on Wednesday 18th. So the shares were suspended for two days for an announcement that nothing had changed. That is insane. It gets more insane.
Yesterday at 7.40 AM, an RNS appeared saying that trading in shares in Eurasia Mining (EUA) had been “temporarily suspended pending an announcement.” 24 hours later we still have no news. Good news travels fast, etc, etc. I considered possible reasons for the suspension HERE but, there is another possibility.
At 7.40 AM, an RNS appeared, announcing that trading in Eurasia Mining (EUA) shares had been “temporarily suspended pending an announcement.” It is now 1 PM, and there has been no announcement. So, what is going on? It could be good news for the shareholders, though I suspect it may not be. But who knows?
With thanks to a generous Banksta, here’s a Eurasia Mining (EUA) birthday cake for tomorrow. This is to celebrate the fifth month anniversary of the farce that is Eurasia claiming that its sale process is still ongoing even though due diligence was supposedly completed on 28th October last year and that a British company selling assets in Russia, almost certainly to Russians, is going to be able to transact in the current climate.
