Update regarding Annual Report and Financial Position
Eurasia Mining Plc, the palladium, platinum, rhodium, iridium and gold mining company, announces that further to the announcements dated 27 June 2024 and 29 July 2024, its audit for the year ended 31 December 2023 is progressing towards completion. The Company also provides an update on its current financial position.
The Company currently has a limited cash runway in the United Kingdom, with sufficient working capital to meet ongoing obligations until November 2024. As a result, the Company is in discussions with a lender regarding a trade finance loan facility (the “Facility”) to cover the gap (if any) until the inventory of PGM concentrate (see below) or the Companies’ assets are sold. Although discussions with the proposed lender are at an advanced stage, there can be no guarantee the Facility will be entered into.
Notwithstanding additional sources of working capital that are expected to be available to the Company, specifically based on the stored inventory of PGM concentrates held by the Company and the Facility, the Directors are continuing to focus on the possible sale of the Company’s assets as the first priority.
Trading in the Company’s ordinary shares on AIM remains suspended pending the publication of the Company’s Annual Report for the year ended 31 December 2023.
In accordance with Rule 41 of the AIM Rules, the admission of the Company’s shares to trading on AIM will be cancelled if the Company’s shares are suspended from trading for six months.
For further information, please contact:
Eurasia Mining Plc
Christian Schaffalitzky
+44 (0)207 932 0418
