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Eurasia Mining Shares Suspended Ahead Of CITIC Clarification

Tue, 11th Feb 2020 15:38

(Alliance News) - Shares in Eurasia Mining PLC were suspended on Tuesday, "pending clarification of its relationship" with China's state-owned investors CITIC Group Corp Ltd.

Shares in the palladium, platinum, iridium, rhodium and gold producer were last quoted at 7.10 pence each in London.

At the end of October, the company said CITIC and Russian investment bank VTB Capital started assisting the company with strategic options for its mining assets. The banks have agreed to work on a success-fee basis, the miner said.

In November, Eurasia said discussions with the duo continued.

If the company was to dispose of its Kola and Urals assets, both in Russia, then a general meeting of shareholders would need to be convened, seeking approval, Eurasia Mining said.

By Eric Cunha; ericcunha@alliancenews.com

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