Deep Dive: Eurasia Mining 🤿 🤘

Hi everyone.

We don’t know any more than you right now, and we’ll let you know when we have more information on this.

Reading on a forum someone contacted EUA the announcement will be made later today a board meeting is ongoing.
Seems most likely a bid went in and potential sale of one or some sites.

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one could dream

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License is due for the Montechundra Flanks. I would imagine its for this.

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Don’t believe anything you read on the LSE forum.

I personally am preparing for the worst. A review of EUAs financial reports suggests they are close to running out of money.

If that’s not the case, then great. But better to be prepared for the worst than hope for the best.

We used to joke in my old work that if they published a positive article about something you invested in, you should immediately get out of that position. :rofl: :joy:

I wouldn’t worry about that side. They’ve zero debt at the moment so I’d find it tough to believe that they wouldn’t be able to raise the desired capital.

They’re in talks with VTB and CITIC group re funding too - so I wouldn’t be surprised if this is part of the announcement.

There’s finally a small statement from EUA.

Blockquote
The Company confirms that, following social media speculation, trading in its ordinary shares has been suspended (at 7.45am today) pending clarification of its relationship with CITIC.
The Company’s AIM securities remain suspended. Further updates will be made shortly.

https://polaris.brighterir.com/public/eurasia_mining_plc/news/rns/story/x8ged9w

Still don’t really know whether that’s good or bad though.

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Just got this myself.

So it looks like they were suspended because of this tweet:

Michael is the former CEO Asia Pacific of a large bank and now Advisor to the Chairman of CITIC Merchant.

Being a tweet, this would fall under the basis of not giving all investors fair access to information and thus they have been suspended.

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Would that imply that Eurasia is making deals with other PGM firms to share what they’ve found?

It sounds like it could be funding, an outright purchase by a miner or an investment company.

China needs lots of PGM, they can’t be caught up in the shortfall. If the flanks project has the sort of levels they’re saying it has then it makes perfect sense for a Chinese investment company to buy the project. Russian and China have the right sort of diplomatic relationship to get this over the line.

I’m very bullish, but this is the sort of outcome I can see happening.

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Sorry to add!

CITIC (who Eurasia have to clarify their relationship with). Are the Chinese International Trust Investment Company , hence where the connection comes from.

Hopefully a big purchase or some sort of bidding war all in all EUA holds all the cards and is in a very good position. Leadership are holding a lot of shares will want the best deal too.

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For sure.

South Africa will want some of this too i’d imagine. They won’t want to be knocked off their perch as largest pgm supplier.

Part of me thinks Russia will want this too, might help lighten the reliance on oil exports a little.

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Definitely exciting times ahead I was glued to the screen all day for RNS, hopefully not to much delay. Hopefully we can get more of these stocks and have access as early as possible in future!

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Just to stir the pot of speculation, this is taken from the RNS 24th October 2019:

Christian Schaffalitzky, the Chairman of Eurasia commented: “The board is pleased that major banks such as CITIC and VTB Capital, the largest investment banks in China and Russia respectively, are interested in Eurasia’s PGM deposits including the ones in Kola which are much improved in size following the addition of the new ‘Flanks’ areas (see announcement dated 26 September 2019). Our total resource with the account of areas within the flanks contours is about 15 Moz of PGM (mostly palladium) that we believe puts us in a completely different league of major palladium companies already in production stage.”

15M ounces PGM:
Palladium £1851 an ounce & Platinum £751 an ounce. That’s a lot of money, however you average the price.

RNS Number : 7935C
12 February 2020

Eurasia Mining plc
Exercise of warrants and options

Eurasia Mining, the 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 predominately palladium open pit deposits near the town of Monchegorsk on the Kola Peninsula, is pleased to announce receipt of notification from both Sanderson Capital Partners (‘Sanderson’) and Optiva Securities (‘Optiva’), to exercise 22,017,871 warrants (ordinary shares of 0.1 pence) in the share capital of the Company (“the Warrant Shares”). The consideration for the exercise of the Warrant Shares amounts, in aggregate, to a cash value of £225,001. The warrants represent the total amount of warrants held by Sanderson (20,000,000 warrants at 1.0p) and Optiva (2,017,871 warrants at 1.24p).

In addition, the Company announces it has received a notice to exercise 9,000,000 options (ordinary shares of 0.1 pence) in the share capital of the Company, being 8,000,000 options at an exercise price of 0.90 pence per share, and 1,000,000 options at an exercise price of 0.42 pence per share, (in aggregate, the “Option Shares”). The consideration for the exercise of the Option Shares amounts to a cash value of £76,200. These options were exercised by employees of the Company, not holding positions as directors of the Company or as senior management or as advisors to the board.

As mentioned in RNS on 11 Feb 2020, trading in the Company’s shares is currently suspended. Application will be made for the Warrant Shares and Option Shares to be admitted to trading on AIM(‘Admission’) as and when trading in the Company’s shares resumes. These shares will rank pari passu with the ordinary shares of the Company in issue.

Total voting rights

The Company’s total issued share capital upon Admission will be 2,724,774,624 ordinary shares.

-------------- END --------------

I’m fairly new to investing and still learning all the details beyond the basics so the above has completely confused me as to whether it is good or bad, but it is news!

Any thoughts from the more experienced investors?

It’s just staff options being issued. If they didn’t issue the options prior to a sale, staff would likely lose them.

There’s more news coming this is just the first bit, I would imagine a trade sale is about to happen to someone. My money is on CITIC.

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Maybe they’ve suspended the stock to avoid the price going nuts and potentially being more than what the sale price is. I suspect it has been sold and shareholders will have done alright.

I probably would have invested had I not been burnt with Lekoil. I was looking at them both. Made the wrong decision.

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