Eurasia Mining is in the spotlight

0
20
  • Eurasia Mining to raise GBP11mln in private placement to fund Rosgeo joint venture
  • The palladium price went on a tear in October, but who stands to gain and will the price strength continue?
  • Eurasia Mining’s Dmitry Suschov discusses ‘strategic options’ for its mining assets
platinum

Quick facts: Eurasia Mining PLC

Follow

View company profile

Eurasia Mining PLC is an international mining and mineral exploration company, focused on Russia.

The company’s stated objective is to produce and explore for platinum group metals (PGMs) and gold through self-funded exploration targets and joint venture partnerships with strategic operators and local partners.

Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to feasibility study level. It is then the company’s intention to either proceed to develop the project to production or partner the project with a suitable operator.

20 Sep 2021

(, ) will raise GBP11mln through a private placement with institutional investors to help finance a previously announced joint venture with Russian state-owned company Rosgeo.

Institutional investors have agreed to buy 41.55mln shares and warrants at 26 pence per share, the closing share price on September 17.

Eurasia Mining’s cash position prior to the private placement is about US$20mln (GBP14.6mln) with no debt and after significant investments made into the West Kytlim operating mines and plants expansion as well as into the Monchetundra project. Following the private placement, the company will have about US$35mln in cash.

“The directors are delighted that professional institutional investors offered to support Eurasia’s fundamentals and its strategic options, as we continue to develop the company including the upcoming acquisitions of Nyud, Moroshkovoe and other significant Rosgeo JV PGM [platinum group metals] and battery metals open pit deposits,” said executive chairman Christian Schaffalitzky.

Read more

15 Sep 2021

(, ) said a detailed mining plan has been completed for the first five years of the life of the Loipishnune open pit and the West Nittis open pit, both of which form part of the Monchetundra project.

The miner said that phase one of annual ore production was increased by 1.7 times to 1.7mln tonnes per annum compared to the Russian Feasibility Study.

Read more

01 Sep 2021

(, ) highlighted progress across its operations, including significant developments made at its operating West Kytlim mine in Russia, after its share price jumped more than 20% yesterday.

The shares closed at 18.50 pence yesterday, although Eurasia noted they remain below the 26.5p price at which a US$20mln private placement with US professional institutional investors was completed in May 2021.

Read more

13 Nov 2019

The apparently inexorable rise in the palladium price came to a halt in the second week of November, after peaking at a record 1,804 per ounce on 28 October. Since then, the metal has given up more than US$100 per ounce, although analysts are divided as to where it will go next.

Most chartists seem to see a bullish trend developing, whereas those looking at market fundamentals continue to remain bullish.

Read more

30 Oct 2019

Eurasia Mining’s () Dmitry Suschov speak to Proactive London’s Andrew Scott followingn the news they’ve engaged two banks as they consider the ‘strategic options’ for its Kola and Urals mining assets .

He says VTB, an arm of Russia’s VTB Group, and CITIC, which is owned by the Chinese government have already started assessing potential plans.

He says the Banks have agreed to work on a success fee basis, so that their motivation is directly linked to a successful completion of an asset transaction.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is…

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash…

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE 100 gets September off to a strong start

FTSE 100 got September off to a strong start as investors awoke from their summer slumber.

London’s blue-chip index rose 53 to 7,172 in early dealings.

Nationwide’s latest house price survey showed the average price of a UK is now around GBP248,800, up 11% year on year. Prices are now 13%…

2 weeks, 5 days ago

2 min read

LEAVE A REPLY

Please enter your comment!
Please enter your name here