Clarification of Understanding with CITIC & VTB Capital
Eurasia, an established producer of palladium, platinum, iridium, rhodium and gold announces. Further to the announcement dated 24 October 2019 (the “Announcement”), the Company continues to progress its conversations with CITIC, one of China’s investment banks and VTB Capital, one of Russia’s investment banks (together the “Banks”) as they continue to explore possible strategic options for the Company’s current mining assets (the Company’s Kola and Urals assets (the “Assets”)).
However, as set out in the Announcement, no engagement letter has yet been signed with the Banks, although they continue to work on the Company’s behalf; no agreement on success fees has yet been reached; and the Company also reiterates that there can be no guarantee that any transaction will occur nor that there can be any guarantee as to the value that could be achieved for any of the Assets in any potential transaction.
Eurasia Mining Plc
Christian Schaffalitzky/ Keith Byrne
+44 (0)207 932 0418
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