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Eurasia Mining PLC - palladium, platinum, rhodium, iridium and gold producing company - Notes Wednesday's 39% share price slump following the announcement of the sale of 27.4 million shares by Alexei Churakov. Churakov is a strategic advisor to the Eurasia board. Eurasia says he notified company that he sold the shares to cover an urgent and critical cash call and that they were all acquired by Veles International, a subsidiary of investor Veles Capital. Churakov has no intention to sell his remaining shares. "The company notes that the acquisition by Veles evidences interest in Eurasia among institutional shareholders. Veles is a well-established and one of the oldest professional institutional investors in Russia," says Eurasia.
Current stock price: 25.09 pence, up 39% on Thursday
Year-to-date change: down 27%
By Eric Cunha; ericcunha@alliancenews.com
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