Eurasia Mining Plc (“Eurasia” or the “Company”), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce an update on the potential asset sale.
· Further to the proposal (the “Proposal”) from the credible party (the “Buyer”) on the potential asset sale announced via RNS on 12 May 2021, the Buyer has informed Eurasia in writing that it has successfully completed its due diligence.
· As announced via RNS on 30 September 2021, since the receipt of the Proposal in May for the potential acquisition of substantially all of the Company’s assets, additional interest from other parties is being considered by the Board.
· It is the Board’s intention to advance several options with advice from UBS, DLA Piper and other advisers.
Until a transaction is finally concluded there can be no certainty that a transaction will occur or on what terms.
Christian Schaffalitzky, Executive Chairman of Eurasia commented: ” The Directors are delighted that we are advancing several transactions concurrently. We see competition for Nickel-Copper-PGM assets (with a similar basket of metals like ours and the assets included in our agreement with Rosgeo) increasing on a global scale “.
James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “We are advancing our development projects to production, increasing production on our operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well”.
A copy of this announcement is also available on Eurasia’s website at:
For further information, please contact:
Eurasia Mining Plc
+44 (0) 20 7932 0418
Christian Schaffalitzky / Keith Byrne
About Eurasia Mining Plc
Eurasia Mining plc is a palladium, platinum, rhodium, iridium and gold producing company, operating the established West Kytlim Mine in the Urals, and also the operator of the Monchetundra Project comprising two predominantly palladium and nickel open pit deposits located 3km away from Severonickel, one of Norilsk Nickel’s largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula.
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