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(EUA) Eurasia Mining Share Chat

Discussion in 'General Share Chat (EUA)' started by rodrod1, Mar 15, 2016.

  1. BigP

    BigP Keeping the Faith

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    RNS Number : 8041Z
    Eurasia Mining PLC
    26 May 2021

    NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. NEWSWIRE SERVICES OR IN THE UNITED STATES OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.


    EURASIA MINING PLC

    ("Eurasia" or "the Company")

    Completion of US$20m financing for Rosgeo JV

    26 May 2021

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that the financing previously announced on 20 May 2021 was successfully completed yesterday at the purchase price of 26.5p and on the other terms as per the previous RNS.

    H.C. Wainwright & Co. acted as the exclusive placement agent in the United States for this financing.

    Comments

    Christian Schaffalitzky, Executive Chairman commented: "The Directors are delighted to close yet another important transaction following the successful completion of the Rosgeo JV announced on 26 March 2021 that both put Eurasia in an even stronger position. The Board is pleased that the institutional investors are recognising the fundamentals of the Company. We look forward to providing further updates".
     
  2. BigP

    BigP Keeping the Faith

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    REGULATION.



    15 June 2021


    Eurasia Mining Plc


    Rosgeo JV Update

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce an update on the Rosgeo JV.


    As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project in the Kola Peninsula.


    The Company is pleased to announce that the first joint venture company, Monchegorskoe LLC, was created to hold the licence for the Nyud open pit PGM and battery metals deposit ("Nyud"). Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Euraisa, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are committed to maximising the value for all shareholders, and thus committed to advance the Rosgeo JV concurrently with the progress we are making on our strategy as announced on 12 May".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "We are enthusiastic to create a globally significant PGM and battery metals company with our partner Rosgeo, a large internationally diversified company. We are using the momentum of hydrogen and EV markets growing fast on the one hand and the traditional PGM regions struggling with various challenges including underground mine floods and limited electricity supply on the other hand. This year of 2021 is unprecedented for Eurasia in terms of the Rosgeo JV completion, West Kytlim production ramp up and the cash balance the Company has at hand, all contributing to Eurasia's strong position to execute on its strategy".



    Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to the inclusion of the resource and reserves information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.


    A copy of this announcement is also available on Eurasia's website at:

    https://www.eurasiamining.co.uk/investors/news-announcements.
     
  3. BigP

    BigP Keeping the Faith

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    26 July 2021



    Eurasia Mining Plc


    Kola Subsidiaries' New CEO Appointment

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce an appointment of a new CEO of its Kola subsidiaries.

    Konstantin Firstov, former Managing Director of Rosgeo has been appointed as CEO of Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") (for more details on YGK please see below).

    Konstantin is an experienced mining engineer having also previously worked as the head of open pit mining at Achinsk, the largest operation of Rusal, a leading company in the global aluminium industry, producing metal with a low carbon footprint.

    Konstantin has further been appointed an interim CEO (interim in the framework of the RNS released on 12 May 2021) of Eurasia's 80% subsidiary Terskaya Mining Company / Terskaya Gornaya Kompaniya (that holds the Monchetundra license and the Monchetundra Flanks license).

    As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project in the Kola Peninsula.

    As further announced on 15 June 2021, Monchegorskoe LLC was created to hold the licence for the Nyud open pit PGM and battery metals deposit ("Nyud"). Eurasia's 100% YGK has signed a notarised agreement with Rosgeo Group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Eurasia, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report on Nyud.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted that a highly experienced professional is joining Eurasia, as we are committed to the concurrent progress of both our operations and our strategy as announced on 12 May 2021".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "The Board members are confident that Konstantin's experience, as the head of Achinsk open pit mining operations and as Managing Director of Rosgeo, augmented with my extensive EPC experience to manage turn key construction and commissioning will be important at Rosgeo JV projects going forward, while the West Kytlim expansion is already in good hands of our in-house team on the sites".


    A copy of this announcement is also available on Eurasia's website at:

    https://www.eurasiamining.co.uk/investors/news-announcements.
     
  4. BigP

    BigP Keeping the Faith

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    11 August 2021


    Eurasia Mining Plc


    Three plants launched at West Kytlim

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that three plants have now been successfully commissioned at West Kytlim.


    Three Plants Launched

    To increase production and remove single asset risk at West Kytlim three plants have successfully been commissioned as planned and initially announced via RNS on 12 May 2021:

    · the first plant is located on the border of Klyuchiki area and Bolshaya Sosnovka area to process the material mined from both these areas,


    · the second and the third plants are located on the border of Malaya Sosnovka and Bolshaya Sosnovka areas to process material mined from Bolshaya Sosnovka.


    Electricity Powerline Progress

    The electricity powerline project is progressing on schedule as announced on 12 May 2021 and our team at West Kytlim are comparing several options to acquire an electric dragline to significantly increase our mining capacity and to replace diesel with grid electricity for our processing and ancillary activities. This is part of the undertakings we have made to further improve our ESG commitment (for more information on the ESG at West Kytlim please refer to the RNS of 15 March 2021). Additional benefits of the electricity grid connection and the use of an electric dragline are substantial cost reductions in both mining and processing costs.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Board and our Team are enthusiastic about developing the business concurrently with making progress on the strategic options that we have on the table".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "The Directors are pleased that we are consistently delivering on our promises in terms of our expansion plans, cost reduction and last, but not the least sustainability. The electricity grid connection will further improve our ESG credentials and together with the three plants successfully launched will cement our position as a low-cost producer".


    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
     
  5. BigP

    BigP Keeping the Faith

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    26 August 2021


    Eurasia Mining Plc


    Nyud Progress Update

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce progress update on the Nyud project.

    As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company's Monchetundra Project in the Kola Peninsula.

    As further announced on 15 June 2021, Monchegorskoe LLC was created to hold the licence for the Nyud open pit PGM and battery metals deposit ("Nyud"). Eurasia's 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya ("YGK") has signed a notarised agreement with Rosgeo group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Pursuant to the terms of this agreement Eurasia, through YGK, will also have a right to acquire Rosego's 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report ("CPR") on Nyud.

    Additional drilling has recently been completed on Nyud at Rosgeo's cost and Eurasia has engaged Wardell Armstrong International in relation to Nyud to among other things:

    · Audit the quality assurance and quality control procedures;

    · Review the block modelling and open pit optimisations; and

    · Prepare CPR under the JORC Code.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted to see tangible progress on our JV with Rosgeo that is an integral part of our development strategy and a part of some of our strategic options that we are developing with our advisers: UBS and DLA Piper".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "The Board is driving the concurrent development of both our Kola and our Urals assets, and we are looking forward to providing further updates in due course".
     
  6. BigP

    BigP Keeping the Faith

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  7. BigP

    BigP Keeping the Faith

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    1 September 2021


    Eurasia Mining Plc


    Share Price Movement and Progress Update

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company notes the movement in the Company's share price yesterday and notes that the share price remains below the 26.5p price at which the $20m private placement, assisted by H.C. Wainwright, with US professional institutional investors was completed on 26 May 2021 and would like to announce the following summary:

    · Significant developments have been made at our operating West Kytlim mine, the world's largest alluvial PGM mine, with 3 washing plants launched to production and several open pit areas being stripped including one at Kluchiki and two at Bolshaya Sosnovka as opposed to one area and one plant in previous years - single asset risk is therefore eliminated at West Kytlim. Electricity grid connection and electric dragline are on track to be commissioned as announced via RNS on 11 August 2021 to further reduce the mine's carbon footprint, improve Eurasia's ESG credentials and reduce the cost of production that is already in the lowest quartile of the global PGM cost curve.


    · Rosgeo has confirmed to Eurasia that the process on the license for Nyud and Moroshkovoe open pit deposits is in an advanced state.


    · Block modelling and open pit optimisations are now complete for 6 out of 9 Rosgeo JV projects that in total represent 104.6Moz of platinum equivalent resource (according to the Russian State Cadastre of Mines) as announced via RNS on 26 March 2021.


    · The Monchetundra Definitive Feasibility Study (DFS), contracted to CKE and EMR (both defined below), is in the final stages of its development further to the successful completion of geotechnical and other studies performed by Gipronickel (an engineering arm of Norilsk Nickel) as well as an audit by Wardell Armstrong International.


    Further details on the Monchetundra Definitive Feasibility Study

    The following tests have successfully been accomplished by Gipronickel (an engineering arm of Norilsk Nickel) including but not limited to physical and mechanical tests to determine the average density, the true density, porosity, the speed of propagation of longitudinal and shear waves of the rocks, the rock hardness coefficient, uniaxial tension along generatrixes, uniaxial compression, the water absorption, the natural moisture content of rocks, measurements of the physical properties of the rocks.

    Detailed metallurgical tests have successfully been completed by Mekhanobr Engineering that possesses the 90-years of experience in detailed design of base metals and precious metals processing facilities, industrial processing operations, tailing storage facilities, etc. More than 250 mining-and-processing operations have been constructed using their designs, now effectively operating in Russia and abroad.

    Central Kola Expedition (CKE) has accomplished the majority of work related to the DFS that, amongst other items, included drillhole digital database compilation, wireframe and block modelling, and open pit optimisations. A detailed mining plan for the first 5 years of the mine is expected to be completed within 2 weeks. CKE has significant experience on the Kola Peninsula working for Russian mining majors including Norilsk Nickel, Polymetal, Acron, Eurochem and Severstal as well as for international mining majors including Anglo American Platinum, Barrick, B2Gold and Kinross.

    Wardell Armstrong International has undertaken site visits and audited the Monchetundra drill core storage at the warehouse owned and managed by CKE, the quality assurance and quality control procedures and the work done by Gipronickel, CKE and other professional contractors of Eurasia.

    EMR (Engineering of Mineral Resources) that has an excellent track record cross-referencing Russian reserves with reserves under the JORC Code is coordinating the DFS for the purposes of the Russian authorities.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted that our hard work on Kola that started as a joint venture with Anglo American Platinum in 2005 and is finishing as a joint venture with Rosgeo, a much stronger partner for doing business in Russia, is coming to a successful conclusion with DFS, JORC reserves as well as the EPCF (engineering, procurement, construction and finance) contract already signed. The Board is committed to execute on the strategy as announced on 12 May 2021".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "The Board members are encouraged that the DFS is advancing well for Monchetundra, while the CPR under the JORC Code is being finalised for our Rosgeo JV projects including Nyud and Moroshkovoe. The work has been done well ahead of schedules stipulated by our license agreements. We are executing on Kola as we have done in the Urals, successfully delivering on our promises".
     
  8. BigP

    BigP Keeping the Faith

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    From LSE
    Onassis Price: 31.25. Strong Buy

    RE: 12.5 million traded in first hour !!Today

    Potential Bidders for Eurasia Mining/Assets.

    Norilsk Nickel (NN) are the overwhelming favourites to purchase Eurasia Mining/Assets, other valid options are open and in play.

    NN are mentioned in recent EUA RNS, proximity to Monechtundra being an obvious advantage for them. They have all the processing facilities needed just a few km away from the licenced area.

    Other firms in the vicinity include Polymetal and Nordgold, they understand the jurisdiction so have to be considered on this basis.

    Anglo American have to be considered a strong possibility to make a bid, given the past relationship with Eurasia Mining. Previously they’ve ruled out acquisitions outside South Africa but the recent purchase of Sirius demonstrated a change in approach.

    Other global firms such as Glencore who could easily afford a multi-billion offer can be thrown into the mix until such a time as final bidders are revealed.

    Chinese influence cannot be ignored on any global asset sale, with the engagement letter with CITIC Merchant an example. Perhaps a state bid via SinoSteel or similar firm.

    Many other PGM mining operations exist and would see Monchetundra (MT) and/or West Kytlim (WK) as attractive options to consider purchasing. We should consider South Africa as beset with fundamental issues of power stability, higher than average AISC due to deep underground mining and Covid19 an issue at present with this type of operation. The ratio of Platinum:palladium at several SA operations is closer to 1, so they would be mining a lot of Platinum to extract a similar quantity of Palladium compared with MT, devaluing one commodity chasing gains on another.

    This brings Sibanye Stillwater, Implats, Northam and Lesego to the table of possible bidders. The latter two probably more suited to buying WK as question marks over their ability to afford both MT and WK.

    Open Pit mining with AISC around $325/oz makes MT one of the most profitable locations to build a PGM empire. This brings to the table our friends in North America, such as Barrick and Kinross if they wished to consider diversification.

    So they would be my top 12 bidders for Eurasia Mining/Assets. I don’t expect all 12 to throw in an offer, but it does suggest a potential bidding war until the expert guidance of UBS, ensuring a great outcome for shareholders new and old.

    As always DYOR and GLA.
     
    mart101 likes this.
  9. mart101

    mart101 Demi God of BlueShare

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    Believe the hype with this one. I'm sure a deal will be done
     
    BigP and whatcouldgowrong like this.
  10. BigP

    BigP Keeping the Faith

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  11. BigP

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  12. BigP

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  13. BigP

    BigP Keeping the Faith

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    RNS Number : 7853L
    Eurasia Mining PLC
    15 September 2021

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.


    THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN EU REGULATION NO. 596/2014, INCORPORATED INTO UK LAW BY THE EUEOPEAN UNION (WITHDRAWAL) ACT 2018 AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.


    15 September 2021


    Eurasia Mining Plc


    Monchetundra Detailed Mining Plan

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company is pleased to announce that a detailed mining plan has been completed for the first 5 years of the life of mine of Loipishnune open pit and the West Nittis open pit, both of which form part of the Monchetundra project.

    Summary Highlights:

    · Updated results of block modelling and open pit optimisation have created the opportunity to increase phase one ("Phase One") annual ore production by 1.7 times (from 1Mtpa to 1.7m Mtpa) compared to the Russian Feasibility Study (the "FS") throughput. The FS was approved by the State Commission on Mineral Reserves as announced on 3 April 2017. Phase One includes Loipishnune open pit and West Nittis open pit only


    · Revised production profile has resulted in the metal grades in the first year of production amounting to 2.6 g/t of palladium and 3.5 g/t in total of palladium, platinum and gold at West Nittis open pit mine. A revised production profile at Loipishnune has also resulted in the following grades: 1.8 g/t of palladium and 3.1 g/t in total of palladium, platinum and gold in the first year of production


    · Phase One annual metal production has now been calculated to be equal to 128 Koz of palladium equivalent, over 70% higher than the volume projected in the FS. This production volume does not include Monchetundra Flanks and Rosgeo JV projects which will be separately announced


    · Mining equipment selection has also been revised with the focus on the use of electric shovels, following the same ESG friendly strategy focused on low-cost electricity connection and electric excavators that is being implemented at West Kytlim now, to be implemented on our Kola projects


    · The site infrastructure layout drawing has been developed to include all major infrastructure elements


    · Extensive power generation spare capacity exists on the local grid, represented by predominantly green energy sources: hydro and nuclear (please refer to the details below)


    · A tailings storage location has been identified for the life of mine (please refer to the details below)


    · The local topography and precipitation have resulted in the formation of numerous bodies of water in the immediate vicinity of the operations (please refer to the details below)


    · The logistic infrastructure is more than sufficient for the planned operations capacity (please refer to the details below)


    · Labour is supplied from 4 mining towns: nearby Monchegorsk, Apatity (80km), Kirovsk (80km), Olenegorsk (35km)


    Further details on the electricity supply:

    · Spare capacity that already exists on the local grid includes the following green energy sources:

    o hydro stations (only 44% utilised of about 2GW local hydro capacity) and

    o nuclear stations (60% utilised out of about 2GW)

    · Some of the current regional industry is not sustainable in the long term and many mining operations are approaching the end of their lives. Hence additional energy capacity will be available going forward

    · Within 5 km of the site, there are 7 power supply centres owned by IDGC of North-West PJSC. These substations currently carry loads at 30-60% of capacity

    · The HV powerline passes over the mine site.


    Further details on the tailing storage:

    · Tailing storage facility (the "TSF") site has the capacity to safely accommodate the tailings generated from the operations for the life of mine

    · The TSF is close to the processing plant reducing pumping costs

    · Tailings and waste dump sites chosen so as not to sterilize potential resources

    · Pre-stripping overburden material from open pits will form the first stage walls

    · Spillway will be constructed; however, flood risk is assessed to be minimal

    · No population centres are in the vicinity: the sites are significantly remote from any local communities

    · Tailings will be pumped and gravity assisted to the TSF.


    Further details on the water supply:

    · Large amount of surface streams exists in the valleys to the north-west of the mining area

    · Measured streams are available throughout the year

    · Water will be sourced from the streams for bulk storage and treatment

    · Potable water to be delivered to the facilities by specialized vehicles

    · Centralized hot water supply systems from electric boilers are to be arranged at the camp industrial site and plant

    · The source of industrial water for the operations and fire-fighting water for the industrial site, pits, explosives warehouse and plant will be the settling pond of the plant water recycling system.


    Further details on transport and logistics:

    · All year highway connected to the site and railway is within a few km to the site

    · Transportation of heavy machinery is readily achievable

    · Murmansk seaport operates throughout the year without freezing

    · The nearest airport is Murmansk - numerous daily flights to Moscow and Saint Petersburg.


    Christian Schaffalitzky, Executive Chairman of Eurasia commented: "The Directors are delighted that we are making significant progress in all our work streams on both the operational front and on the strategic front".


    James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "Eurasia's Board members are glad that we are able to consistently execute in a timely manner delivering superior value to all our shareholders".


    Consent for release

    Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the information in this announcement and consents to the inclusion of the information in the form and context in which it appears here. He is a Competent Person for the purposes of the AIM Rules for Companies.



    A copy of this announcement is also available on Eurasia's website at:

    https://www.eurasiamining.co.uk/investors/news-announcements.
     
  14. BigP

    BigP Keeping the Faith

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    EURASIA MINING PLC

    ("Eurasia" or "the Company")

    Placement of US$15m at 26p for Rosgeo JV

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that it has entered into a securities purchase agreement for a private placement (the "Private Placement") of 41,551,563 new ordinary shares of the Company (the "Placing Shares") and warrants (the "Warrants") to purchase up to 41,551,563 new ordinary shares of the Company (the "Warrant Shares") to institutional investors at a price of 26 pence per ordinary share and associated Warrant, being the closing mid-market price of the Company's ordinary shares on 17 September 2021, for gross proceeds of approximately £11m, or approximatelyUS$15m(not including any gross proceeds from the exercise of the Warrants), before deducting placement agent's fees and offering expenses.

    The net proceeds of the Private Placement are intended to be used primarily to finance the joint venture with Rosgeo ("Rosgeo JV"), as announced via RNS dated 26 March 2021, including Nyud, Moroshkovoe and other major Rosgeo JV platinum group metals ("PGM") and battery metals open pit deposits.

    The cash position of the Company prior to the Private Placement is about $20m with no debt and after significant investments made into the West Kytlim operating mines and plants expansion, as well as into the Monchetundra project as announced on 1 September 2021. The cash position of Eurasia after the Private Placement will be approximately US$35m.

    After receiving a more sizable offer, the Directors have decided to limit the size of the Private Placement relative to the offer to minimise shareholder dilution and at the same time place the Company in a stronger position.

    H.C. Wainwright & Co. is acting as the exclusive placement agent in the United States for the Private Placement.

    The Warrants have an exercise price of 26p per ordinary share and may be exercised at any time upon issuance and prior to the 3-year anniversary of the issuance date.The Warrants are expected to be issued on 23 September 2021.

    The total number of ordinary shares to be issued pursuant to the Private Placement, and assuming exercise of all of the Warrants, is 83,103,126 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares"), which would represent approximately 2.87 per cent of the Company's enlarged fully diluted share capital of 2,895,111,558 Ordinary Shares.

    Application for Admission & Total Voting Rights

    The Placing Shares and Warrant Shares will rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission and settlement of the Private Placement will occur on or about 23 September 2021.

    As a result of the issue of the Placing Shares as described above, the issued share capital of the Company, with voting rights, will consist of 2,853,559,995 ordinary shares of 0.1p each, assuming no exercise of the Warrants. As the Company does not hold any shares in treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the UK Disclosure Guidance and Transparency Rules.


    Comments

    Christian Schaffalitzky, Executive Chairman commented: "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 and battery metals open pit deposits. Furthermore, while our board and management continue to be significant shareholders, the Directors are confident that the Private Placement will further strengthen Eurasia's negotiating position."


    James Nieuwenhuys, CEO and Managing Director commented: "We have decided to advance the Rosgeo JV, as its projects' potential has become more evident during the course of the confirmatory work being done by Wardell Armstrong International in relation to both PGM and battery metals (nickel, copper and cobalt) that are future facing metals in relation to the fast-growing hydrogen and EV markets respectively."
     
  15. BigP

    BigP Keeping the Faith

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    RNS Number : 9730M
    Eurasia Mining PLC
    24 September 2021

    NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. NEWSWIRE SERVICES OR IN THE UNITED STATES OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.


    EURASIA MINING PLC

    ("Eurasia" or "the Company")

    Completion of US$15m financing for Rosgeo JV

    24 September 2021

    Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that the financing released via RNS on 20 September 2021 was successfully completed on the previously announced terms.

    Summary Highlights:

    · H.C. Wainwright & Co. acted as the exclusive placement agent in the United States for this financing


    · The Directors have reduced the financing size to approximately $15m from the higher amount offered to Eurasia


    · The cash balance of Eurasia now is about $35m with no debt


    · The financial position of the Company is sufficient to accomplish its commitments in relation to Rosgeo JV, where a JORC resource by Wardell Armstrong is to be announced shortly


    Comments

    Christian Schaffalitzky, Executive Chairman commented: "The Directors are pleased that more institutional investors have joined our shareholder base, as we reach another important milestone. We look forward to providing further updates".
     
  16. BigP

    BigP Keeping the Faith

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    30 September 2021


    Eurasia Mining Plc


    ("Eurasia" or the "Company")


    Interim Report for the six months ended 30 June 2021


    Summary highlights of 2021 to date

    · Agreement with Rosgeo concluded in March to form a globally significant battery metals and PGM district on the Kola Peninsula, positioning Eurasia among majors


    · Wardell Armstrong International engaged in April for several comprehensive tasks including JORC resource audits which are almost complete and are expected to be announced shortly


    · Proposal received in May for the potential acquisition of substantially all of the Company's assets. Since then, additional interest from other parties is being considered by the Board


    · Eurasia's representative office in Japan was established


    · Eurasia is now fully funded to fulfil its commitments in relation to the Rosgeo JV


    · Three plants are now operating at the Company's producing asset West Kytlim


    · The Company maintains its focus on ESG including scope 1 to 3 carbon emissions


    Chairman's statement

    'The first half of 2021 has been a very active period for the Company both operationally and commercially.

    We concluded a company transformational, legally binding agreement with Rosgeo covering 9 projects which together with Monchetundra and Monchetundra Flanks (including NKT, high grade nickel-copper-cobalt and PGM deposit) form a globally significant battery metals and PGM district on the Kola Peninsula, positioning our Company among majors in terms of combined resources of Eurasia and the projects included in the agreement with Rosgeo.

    Post period-end, Konstantin Firstov joined Eurasia as CEO of our Kola operations from a Managing Director position in Rosgeo bringing additional operational expertise as the former head of open pit mining at Achinsk, the largest operation of Rusal, a leading company in the global aluminium industry, producing metal with a low carbon footprint.

    After signing the Rosgeo agreement at the end of March, Eurasia conducted a tender among international technical auditors and in April engaged Wardell Armstrong International for several comprehensive tasks including JORC resource audits which are almost complete and will be announced shortly.

    In May we received a proposal for the potential acquisition of substantially all of the Company's assets and the Board decided to focus on this potential asset sale. Since then, we have seen additional interest from other parties. We have attracted top talent and top tier partners and advisers to prioritise and execute our strategy.

    Tamerlan Abdikeev based in Tokyo joined the Board and Eurasia's representative office in Japan was established.

    Also in May we were offered a $20m private placement at the market price by a leading US institutional investor. In September we cut back to $15m from a larger proposal made by a consortium of US professional institutional investors, again without discount, at the market price of 26p. We are now fully funded to fulfil our commitments in relation to the Rosgeo JV.

    We have successfully trebled our production capacity at West Kytlim, our ESG focussed PGM mine, while continuing to develop the electrification of the site to reduce the mine's carbon footprint. To that end we have selected an electric dragline to minimise our impact on the environment as well as to increase the efficiency of the stripping and mining, thereby reducing costs. Thus, the next year is expected to be transformation for West Kytlim on both the mining side with a highly productive electric dragline and on the processing side with 3 plants already launched.

    My thanks to the staff and the Board for their continued commitment to creating additional value for our shareholders. The Company is in a very strong position financially, with an excellent portfolio of assets, and in a buoyant market for the future facing green metals: battery metals for EVs and PGMs for the hydrogen economy.'

    Christian Schaffalitzky, Executive Chairman
     
  17. Frankie

    Frankie New Member

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    Haven't been on here for a while, how do I find general discussion on eurasia please?, as I've forgotten how to navigate this site! :)
     

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