Eurasia Mining mourns death of longest-serving director
His main initiative in recent years was to develop the company's environment, social and governance principles
Company
LON:EUA
Eurasia Mining PLC is an international mining and mineral exploration company, focussed on Russia. The company's stated objective is to produce and explore for platinum group metals (PGMs) and gold through self-funded own exploration targets and joint venture partnerships with strategic operators and local partners. Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to feasibility study level. It is then the company's intention to either proceed to develop the project to production or partner the project with a suitable operator.
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His main initiative in recent years was to develop the company's environment, social and governance principles
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A glance at some of the day's highlights from the Proactive Investors newswire
The company said Churakov has now notified it that he sold the shares to cover an urgent and critical cash call
Stripping and earthmoving activities at Kytlim are ongoing and unaffected by COVID-19, the miner said
The group said progress to date has been slower than expected reflecting the complexity of the process, involving several parties and structures, as well as external factors including coronavirus (COVID-19) related travel restrictions
The approval process is advancing and final approval is now expected soon
The company's finances are the best they've been in the past decade, Christian Schaffalitzky said.
Christian Schaffalitzky, the group's executive chairman said: "This reorganisation is designed to optimise our execution team"
Eurasia has a long track record of successfully operating in Russia
Eurasia has built up a strong track record of exploration and production in Russia
Eurasia has a highly attractive portfolio of platinum group metals assets in Russia
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
The miner also reiterated its announcement from July 1 that it has appointed UBS to assist in a review of its strategic options including asset sales or a sale of the company
There was once again a steady stream of news from London's small-cap miners this week
The miner said it has received “a number of inbound expressions of interest from multiple parties”
The miner said it has appointed SP Angel as its nomad and joint broker with immediate effect
The platinum miner said while the pandemic had not affected its operations, it was maintaining its £600,000 cash position as well as a currently unused credit line of US$1mln (£806,505) from its largest shareholder
The company said further updates will be made shortly
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A round-up of all the events on the Proactive newswire on Tuesday
“We look forward to the formal license issue, which is in line with our strategy to become one of the largest alluvial PGM operations globally”