Kola Mining LLC Incorporation

RNS Number : 5908B

Eurasia Mining PLC

14 February 2022

 

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.

14 February 2022

Eurasia Mining Plc

Kola Mining LLC Incorporation

Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, is pleased to announce that Eurasia has incorporated a 100% beneficially owned subsidiary, Kola Mining LLC to carve out Eurasia's PGM assets into a separate entity from the nickel assets being consolidated into the already incorporated Kola Nickel LLC as announced via RNS on 14 January 2022.

Christian Schaffalitzky, Executive Chairman of Eurasia commented: " The Directors are pleased that our structuring is approaching completion, as we work hard with DLA Piper and our other legal advisers. As announced on 8 February, we are making good progress despite the current geopolitical context and a separate announcement will be provided. Contrary to speculations, the Directors and the Officers of Eurasia have not sold any shares and, as the largest shareholder group, are focused on the liquidity event along with all shareholders ".

James Nieuwenhuys, CEO and Managing Director of Eurasia commented: "Having worked for many years in Russia including 5 years as COO at Polyus, I got to know Russia well. My fellow Directors and I are calm and expect a peaceful resolution of the geopolitical tensions. We are grateful to the Russian people, hard working women and men including Eurasia's team on the ground that forms the backbone of our success producing the world's cleanest PGM ounces for the growing hydrogen economy making us ESG friendly across the whole value chain. We are looking forward to completing the split of our nickel, PGM and hydrogen projects into separate subsidiary companies that allows us to execute on our strategy as previously announced".

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	[phone]
Christian Schaffalitzky / Keith Byrne
SP Angel (Nominated Advisor and Joint Broker) Ewan Leggat / David Hignell / Adam Cowl	[phone]
Optiva Securities (Joint Broker) Christian Dennis	[phone]

About Eurasia Mining Plc

Eurasia Mining plc is a PGM and battery metals producing company, operating the established West Kytlim Mine in the Urals, and also being the operator of the Monchetundra Project comprising two predominantly palladium open pit deposits located 3km away from Severonickel, one of Norilsk Nickel's largest base metals and PGM processing facilities, near the town of Monchegorsk on the Kola Peninsula.

Eurasia's project portfolio also includes Nittis-Kumuzhya-Travyanaya (NKT), Tier-1 scale Nickel mine formerly operated by Norilsk Nickel.

A parallel business development strategy based on the Hydrogen Economy forms a new development arm of the Company.

 

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