THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND
IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF
THAT REGULATION.
28 August
2024
Eurasia Mining
Plc
Update regarding Annual
Report and Financial Position
Eurasia Mining Plc ("Eurasia" or the
"Company"), the palladium, platinum, rhodium, iridium and gold
mining company, announces that further to the announcements dated
27 June 2024 and 29 July 2024, its audit for the year ended 31
December 2023 is progressing towards completion. The Company also
provides an update on its current financial position.
The Company currently has a limited
cash runway in the United Kingdom, with sufficient working capital
to meet ongoing obligations until November 2024. As a result, the
Company is in discussions with a lender regarding a trade finance
loan facility (the "Facility") to cover the gap (if any) until the
inventory of PGM concentrate (see below) or
the Companies' assets are sold. Although
discussions with the proposed lender are at an advanced stage,
there can be no guarantee the Facility will be entered
into.
Notwithstanding additional sources
of working capital that are expected to be available to the
Company, specifically based on the stored inventory of PGM
concentrates held by the Company and the Facility, the Directors
are continuing to focus on the possible sale of the Company's
assets as the first priority.
Trading in the Company's ordinary
shares on AIM remains suspended pending the publication of the
Company's Annual Report for the year ended 31 December
2023.
In accordance with Rule 41 of the
AIM Rules, the admission of the Company's shares to trading on AIM
will be cancelled if the Company's shares are suspended from
trading for six months.
For further information, please
contact:
Eurasia Mining Plc
Christian Schaffalitzky
+44 (0)207 932 0418
SP
Angel Corporate Finance LLP (Nomad and Broker)
Jeff Keating / David Hignell / Adam
Cowl
+44 (0)20 3470 0470
Yellow Jersey PR (Financial PR)
Charles Goodwin / Shivantha
Thambirajah
+44 (0)207 932 0418
eurasia@yellowjerseypr.com