Eurasia Mining Plc (“Eurasia” or the “Company”), the palladium, platinum, rhodium, iridium and gold producing company announces that the Company has reviewed the UK, EU and US sanctions (the “Sanctions”) as of this morning UK time.
There is no impact on Eurasia’s operations or activities. No individual or entity identified in the Sanctions is associated with the Company in any way. The Directors would like to highlight the following:
· Eurasia has no bank accounts with Russian state-owned banks.
· The Company also has no relationship with any Russian state-owned banks.
· Eurasia’s production (palladium, platinum, rhodium, iridium and gold) from the operating mines is sold in the domestic market at prices with a market discount to the LME prices fixed in USD, while the costs are mainly fixed in Roubles, whereby a weakening Rouble exchange rate has a positive impact on the bottom line of the Company.
· The Sanctions do not prevent the Company from executing on its strategy as announced.
A copy of this announcement is also available on Eurasia’s website at:
https://www.eurasiamining.co.uk/investors/news-announcements.
For further information, please contact:
Eurasia Mining Plc
Christian Schaffalitzky/ Keith Byrne
+44 (0)207 932 0418
