Eurasia Mining PLC Potential Sale Update (4957Q)
28 Octubre 2021 - 1:00AM
UK Regulatory
TIDMEUA
RNS Number : 4957Q
Eurasia Mining PLC
28 October 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
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 October 2021
Eurasia Mining Plc
Potential Sale Update
Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium,
platinum, rhodium, iridium and gold producing company, is pleased
to announce an update on the potential asset sale.
Summary Highlights:
-- Further to the proposal (the "Proposal") from the credible
party (the "Buyer") on the potential asset sale announced via RNS
on 12 May 2021, the Buyer has informed Eurasia in writing that it
has successfully completed its due diligence.
-- As announced via RNS on 30 September 2021, since the receipt
of the Proposal in May for the potential acquisition of
substantially all of the Company's assets, additional interest from
other parties is being considered by the Board.
-- It is the Board's intention to advance several options with
advice from UBS, DLA Piper and other advisers.
Until a transaction is finally concluded there can be no
certainty that a transaction will occur or on what terms.
Christian Schaffalitzky, Executive Chairman of Eurasia
commented: " The Directors are delighted that we are advancing
several transactions concurrently. We see competition for
Nickel-Copper-PGM assets (with a similar basket of metals like ours
and the assets included in our agreement with Rosgeo) increasing on
a global scale ".
James Nieuwenhuys, CEO and Managing Director of Eurasia
commented: "We are advancing our development projects to
production, increasing production on our operating mines adding
value to Eurasia, while also focusing on other strategic options
that are progressing well".
A copy of this announcement is also available on Eurasia's
website at:
https://www.eurasiamining.co.uk/investors/news-announcements.
For further information, please contact:
Eurasia Mining Plc +44 (0) 20 7932 0418
Christian Schaffalitzky / Keith Byrne
SP Angel (Nominated Advisor and Joint Broker)
Ewan Leggat / David Hignell / Adam Cowl +44 (0) 20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis +44 (0) 20 3137 1902
About Eurasia Mining Plc
Eurasia Mining plc is a palladium, platinum, rhodium, iridium
and gold producing company, operating the established West Kytlim
Mine in the Urals, and also the operator of the Monchetundra
Project comprising two predominantly palladium and nickel open pit
deposits located 3km away from Severonickel, one of Norilsk
Nickel's largest base metals and PGM processing facilities, near
the town of Monchegorsk on the Kola Peninsula.
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END
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October 28, 2021 02:00 ET (06:00 GMT)
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