Eurasia Mining PLC Exercise of Warrants and Options (7935C)
February 12 2020 - 7:34AM
UK Regulatory
TIDMEUA
RNS Number : 7935C
Eurasia Mining PLC
12 February 2020
Eurasia Mining plc
("Eurasia" or "the Company")
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 GBP225,001. 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 GBP76,200. 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. 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 Disclosure and Transparency rules.
Eurasia Mining Plc
Christian Schaffalitzky/ Keith Byrne
+44 (0)207 932 0418
WH Ireland Limited (Nomad and Joint Broker)
Katy Mitchell / James Sinclair-Ford
+44 (0)161 832 2174
First Equity Limited (Joint Broker)
Jason Robertson
Tel: +44 (0)20 7374 2212
Optiva Securities (Joint Broker)
Christian Dennis
Tel: +44 (0) 20 3137 1902
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
Shareholders are reminded that the Company does have the
following media channels including:
https://vimeo.com/user71951711
https://twitter.com/eurasiamining
https://www.proactiveinvestors.com/LON:EUA/Eurasia-Mining-PLC/
https://www.voxmarkets.co.uk/listings/LON/EUA/
About Eurasia Mining PLC (LSE: EUA)
Eurasia Mining is a long-established palladium, platinum,
iridium, rhodium and gold focused production company quoted on the
London Stock Exchange AIM market, with an operating PGM mine in the
Ural Mountains palladium open pit deposit at Monchetundra. In
addition, Eurasia maintain an interest in the Semenovsky Gold in
Mine Tailings Project, an asset demonstrating potentially low-cost
new-term gold production potential.
Eurasia's two core projects are:
The West Kytlim operating mine (of which the Company owns 68%),
which is the largest alluvial platinum reserve in the world
currently, with 2,283 kilograms of raw platinum in reserves and
additional resource potential exceeding 10 tonnes of raw platinum.
A single washplant has operated on site during 2018 and 2019, with
further increases in production planned from multiple washplants.
The mine was previously contracted to generate cashflow from which
to finance further capitalisation of the asset. All contractors
were retired from the operation in September 2019 and since then
Eurasia has been operating on an owner operated (100% of revenue)
basis.
The Monchetundra Project (of which the Company owns 80%), has in
place (signed October 2016) an EPCF (Engineering Procurement
Construction and Financing) contract with Sinosteel, a state-owned
Chinese corporation focused on mining. This agreement fully
finances the Project through building of the 1.7m tonnes per annum
processing facility at the Monchetundra Project. This financing
contract can be drawn down at the option of the Company, and to
date the Company has not activated this option.
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 or visit www.rns.com.
END
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