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Eurasia Mining says talks continue with VTB Capital and CITIC Group

VTB Capital and CITIC Group have started to work on Eurasia’s behalf, but no engagement letter has been signed and no success fees have been agreed

Eurasia Mining PLC - Eurasia Mining continues talks with VTB Capital and CITIC Group
The company has platinum developments in Russia

Eurasia Mining PLC (LON:EUA) said it continues to progress conversations with investments banks VTB Capital and CITIC Group regarding potential partnerships.

The miner said last month the two banks had expressed interest to assist with “strategic options” at its Kola and Urals mining assets.

READ: Eurasia Mining appoints Russian adviser to assist on strategic sales

As of Monday, VTB Capital and CITIC Group have started to work on Eurasia’s behalf, but no engagement letter has been signed and no success fees have been agreed.

“There can be no guarantee that any transaction will occur nor that there can be any guarantee as to the value that could be achieved for any of the assets in any potential transaction,” Eurasia said in a statement.

Quick facts: Eurasia Mining PLC

Price: 2.6475 GBX

AIM:EUA
Market: AIM
Market Cap: £70.44 m
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Eurasia Mining's Dmitry Suschov discusses 'strategic options' for its mining...

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...

on 30/10/19

2 min read