Eurasia Mining PLC (AIM:EUA) told investors that it is closely monitoring the evolving sanctions in Russia.
In a stock market statement the company, which operates the West Kytlim mine in the Urals and the Monchetundra project in northwest Russia, said: “no individual or entity identified in the sanctions is associated with the company in any way. Nor do the sanctions prevent the company from executing on its M&A strategy as announced.”
Executive chairman Christian Schaffalitzky commented: “The board notes our focus on BRICS (in particular on Russia, China and South Africa) and Japan in terms of our M&A strategy.
“More updates are to be provided in due course."
James Nieuwenhuys, Eurasia chief executive, meanwhile, added: “In these times of high volatility, the directors and the officers continue to stay calm and focused on their jobs in the best interests of the company and all shareholders".
The stock market statement also noted that the fundamentals of the company developed over years have not changed, and, said that contrary to speculations none of the Eurasia's team members – which it highlights are ‘the largest shareholder group’ - has sold any shares in the company.