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Eurasia Mining is in the spotlight

Last updated: 11:16 06 Mar 2024 GMT, First published: 08:50 15 Oct 2020 BST

Snapshot

  • Eurasia Mining delays replacement share issue
  • The palladium price went on a tear in October, but who stands to gain and will the price strength continue?  
  • Eurasia Mining's Dmitry Suschov discusses 'strategic options' for its mining assets
platinum

About the company

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.

How it is doing

06 Mar 2024

Eurasia Mining PLC (AIM:EUA) said an agreement for replacement share certificates to be issued to Queeld Ventures and Mispare has been stayed.

Subject to court proceedings since December 2021, an agreement was reached in November for replacements to be issued on 5 March 2024 subject to receipt of any claim or interest in the shares from a third party.

Eurasia, which is a neutral party in the matter, said several communications had been received in response to that announcement of 15 November 2023.

Solicitors for Eurasia are now in communication with Queeld and Mispare regarding the appropriate directions to be made by the court in light of those communications.

11 Jan 2024

Eurasia Mining PLC (AIM:EUA) said its subsidiary, Kosvinsky Kamen, has won litigation in relation to a mining tax claim against the tax authorities in the Supreme Court in Moscow.

Overpayments of the mining tax made by the company since the beginning of 2021 will now be returned by the tax authorities in full.

07 Dec 2023

Eurasia Mining PLC (AIM:EUA) said active discussions are ongoing over the sale of its Russian assets though no terms have been agreed and there is no guarantee of a deal.

Cash as of 30 November 2023 was £517,000 with unsold contrate inventories worth £3.5 million.

Insight: The palladium price went on a tear in October, but who stands to gain and...

13 Nov 2019

The apparently inexorable rise in the palladium price came to a halt in the second week of November, after peaking at a record 1,804 per ounce on 28 October. Since then, the metal has given up more than US$100 per ounce, although analysts are divided as to where it will go next.

Most chartists seem to see a bullish trend developing, whereas those looking at market fundamentals continue to remain bullish.

What management says

30 Oct 2019

Eurasia Mining's (LON:EUA) Dmitry Suschov speak to Proactive London's Andrew Scott followingn the news they've engaged two banks as they consider the 'strategic options' for its Kola and Urals mining assets .

He says VTB, an arm of Russia’s VTB Group, and CITIC, which is owned by the Chinese government have already started assessing potential plans.

He says the Banks have agreed to work on a success fee basis, so that their motivation is directly linked to a successful completion of an  asset transaction.

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on 18/5/22