REG - Eurasia Mining PLC - Corporate and Planned Dual Listing Update

Eurasia MiningAnnouncement

17/04/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250417:nRSQ3631Fa&default-theme=true

RNS Number : 3631F  Eurasia Mining PLC  17 April 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO.
596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S
OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.

 

17 April 2025

 

Eurasia Mining PLC

 

Corporate and Planned Dual Listing Update

 

Eurasia Mining PLC ("Eurasia" or the "Company"), the palladium, platinum,
rhodium, iridium and gold mining company is pleased to provide a general
corporate update ahead of the Investor Webinar the Company's leadership team
will host later today.

 

Planned dual listing in Kazakhstan

Eurasia is delighted to announce that a pre-listing agreement (the
"Agreement") has been signed between Eurasia and Astana International Exchange
("AIX") in Kazakhstan, pursuant to which it has paid a fee to AIX, and AIX has
completed its review of the documents provided by Eurasia and its advisers.

 

There are no remaining compliance conditions for Eurasia to satisfy and the
process is progressing towards completion, with trading on AIX expected to
commence during Q2 2025. Eurasia is in the process of appointing market makers
on AIX (the "AIX Market Makers") as well as other advisers.

 

The AIX dual listing is intended to further improve the liquidity in the
Eurasia's shares and expand the marketability of the Company.

 

Trading of Eurasia's shares on AIX in Kazakhstan will run concurrently with
trading in London, with the AIX Market Makers having access to the CREST
trading system which will facilitate the purchase of shares in the market on
AIM and the move of these same shares to AIX to maintain appropriate liquidity
on AIX, which is an obligation of AIX Market Makers to the Company and the
AIX. Further information regarding the dual listing will be announced in due
course.

 

Possible sale of Russian assets

The Company's strategy also continues to focus on the potential sale of
Eurasia's Russian assets, including the West Kytlim operating mine, the
Monchetundra Project mining license, the NKT brownfield project and the
entitlement to the Nyud brownfield project. While the Board remains committed
to an eventual sale of the Company's assets, there can be no guarantee that
Eurasia will enter into binding agreements regarding this long running sale
process.

 

The Company continues to undertake limited activities on site to ensure the
projects remain in good standing and in an optimal state for a possible
transaction.

 

Cash Position

 

The Company's successful equity fundraise with US and UK institutional
investors announced via RNS on 28 March 2025
(https://www.londonstockexchange.com/news-article/EUA/fundraise-to-raise-gross-proceeds-of-circa-ps3-15m/16963364)
raised gross proceeds of £3.15 million. Following the fundraise, the Company
has ceased using its trade finance agreement with Sanderson Capital Partners
Limited ("Sanderson") and expects to repay Sanderson in full soon.

 

The Company now has sufficient working capital to meet ongoing obligations
until at least H2 2026.

 

Update on Queeld Ventures Limited and Mispare Limited ("Q&M")

At present the UK High Court is determining whether Q&M are the rightful
owners of the shares in Eurasia. Eurasia's position is neutral, and it will
abide by any Order made by the High Court in due course. Further announcements
regarding this matter will be made as appropriate.

 

Sanctions

The Company continues to monitor the sanction regimes in the US, UK and EU and
take appropriate legal advice to ensure ongoing compliance. The Company
remains satisfied that its activities are not prohibited under the sanctions
rules. The Company also affirms that it does not engage, and has not engaged,
with any sanctioned persons, entities or agencies.

 

Christian Schaffalitzky, Eurasia's Executive Chairman commented:

"The Directors are looking forward to the planned dual listing on AIX, which
aims to expand the marketability, visibility and liquidity of the Company. The
Board also remains fully committed to an asset sale and we are grateful to all
shareholders for their ongoing support and patience. On a separate note, I am
delighted by the planned shareholder engagement in the Webinar today, and I
look forward to further engagement with shareholders during the coming
months."

 

For further information, please contact:

 

Eurasia Mining Plc

Christian Schaffalitzky

+44 (0)207 932 0418

 

SP Angel Corporate Finance LLP (Nomad and Broker)

Jeff Keating / David Hignell / Adam Cowl

+44 (0)20 3470 0470

 

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha
Thambirajah

+44 (0)207 932 0418

eurasia@yellowjerseypr.com (mailto:eurasia@yellowjerseypr.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAXLKFSPSEFA