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Platinum group metals

Eurasia Mining gets further £300,000 investment from Metal Tiger

Eurasia Mining said Metal Tiger had invested a further £300,000 in the firm, after exercising all its outstanding warrants.

Eurasia Mining (LON:EUA) said Metal Tiger had invested a further £300,000 in the firm, after exercising all its outstanding warrants.

As reported in December last year, the resource investor had subscribed for £150,000 worth of shares, at 0.5p each.

Now, it has exercised warrants over 30mln shares at 1p a pop.

Managing director at Eurasia Christian Schaffalitzky said: "After the hugely positive news yesterday confirming Prime Ministerial approval for our West Kytlim mining licence application we are delighted to have the continuing support from Metal Tiger plc with their investment of £300,000 to exercise their full outstanding warrants.

"Metal Tiger have now provided funding of £450,000 to the company since December 2014, which is a considerable sum from a single investor and we are pleased to have their support for the work we are undertaking.

"The additional £300,000 in respect of this warrant exercise will be largely invested in progressing production plans at West Kytlim and delivering on our objectives at Monchetundra where we have a further substantial PGM asset.

"We look forward to updating the market with further progress on both projects in the near future as promised in our market announcement yesterday."

Earlier the firm also said Darwin had exercised warrants over around 12mln shares at 0.63p per share and now has no warrants remaining.

Eurasia shares fell 10.64% to 1.05p.

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