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Eurasia Mining confirms it has received non-binding offers in respect a possible acquisition of the company

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

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Eurasia Mining PLC (LON:EUA has provided an update on the formal sale process initiated by the company under the UK Takeover Code on July 1, 2020.

The palladium, platinum, rhodium, iridium and gold producing company said it and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the company as well as other transaction structures.

READ: Eurasia Mining says it expects final definitive feasibility study approval this month

The group added that 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, and more recently delays resulting from western and Russian holiday periods.

Notwithstanding these factors, discussions regarding proceeding to binding proposals are continuing, however, until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms.

Further announcements will be made when appropriate, the group added.

Quick facts: Eurasia Mining PLC

Price: 29.74 GBX

AIM:EUA
Market: AIM
Market Cap: £820.44 m
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