RE: Placing coming on 15th November? Is that right?12 Nov 2024 12:56
Financial Position
When taken with the Company's current cash reserves, the £1.0 million from the first two tranches of the Trade Finance Loan is expected to provide the Company with sufficient working capital to meet ongoing obligations until September 2025.
In addition, the Company can elect to draw down on further tranches of the Trade Finance Loan (subject to achieving the milestones set out above) and Eurasia also intends to generate additional cash from sales of the Company's stored inventory of PGM concentrates.
Furthermore, in addition to the Trade Finance Loan, the Company is due VAT refunds totalling approximately £323,000 from HMRC. A case is also being prepared, based on proposals from two law firms, to represent Eurasia to recover a possible refund of circa £1.3 million from a third party in relation to a previous transaction.
The Company's cash reserves outside of Russia are held in GBP and USD accounts and therefore not directly or indirectly exposed to Rouble foreign exchange fluctuations.