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2 November 2022
Eurasia Mining Plc
Extension of Company Options
Eurasia Mining plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company, announces that it has extended the expiry date on a class of share options which were granted to certain Directors, employees and a substantial shareholder on 2 November 2018 with a three-year term.
The expiry date on 151,000,000 share options, with a range of exercise prices (the "Options") has been extended for a period of six months from 2 November 2022 to 2 May 2023 (the "Options Extension")
Related Party Transaction
As 40,000,000 of the Options are held by Christian Schaffalitzky, the Company's Executive Chairman and Dmitry Suschov, a substantial shareholder in the Company (the "Related Parties"), the Options Extension constitutes a related party transaction under Rule 13 of the AIM Rules.
The Options which are held by the Related Parties are summarised in the table below:
Related Party
Options exercisable at 0.42 pence expiring 2 May 2023
Options exercisable at 0.60 pence expiring 2 May 2023
Options exercisable at 0.90 pence expiring 2 May 2023
Total Options
Christian Schaffalitzky
10,000,000
5,000,000
5,000,000
20,000,000
Dmitry Suschov
10,000,000
5,000,000
5,000,000
20,000,000
Accordingly, the Company's directors who are independent of the Options Extension (being all directors with the exception of Christian Schaffalitzky) consider, having consulted with the Company's nominated adviser, that the terms of the Options Extension are fair and reasonable insofar as shareholders of the Company are concerned.
Outstanding Options and Warrants
As a result of the Options Extension, the Company has the following outstanding share options and warrants:
· 62,000,000 options exercisable at 0.42 pence, expiring on 2 May 2023;
· 47,000,000 options exercisable at 0.60 pence, expiring on 2 May 2023;
· 42,000,000 options exercisable at 0.90 pence, expiring on 2 May 2023;
· 53,306,751 warrants exercisable at 26.5 pence, expiring 20 May 2024; and
· 41,551,563 warrants exercisable at 26.0 pence, expiring 20 September 2024.
A copy of this announcement is also available on Eurasia's website at:
https://www.eurasiamining.co.uk/investors/news-announcements
Does anyone have a breakdown of the options for staff and advisors ?
Options
Valid to Number outstanding
Executive and Non- executive Directors 02/11/2022 25,000,000
Advisors and staff 02/11/2022 105,000,000
Article from Northerminer
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So, we are still waiting for the authorities whilst negotiating with potential buyers from Russia, China and India
"Monchetundra, Monchetundra Flanks and other Kola projects
The Definitive Feasibility Study for the Monchetundra (West Nittis and Loipishnune) open pits is well advanced and on schedule for completion this year. Details of this report will be provided when a response is received from the relevant authorities. The Company has previously released a report commissioned by Wardell Armstrong International covering the adjacent NKT deposit, a deposit which the Company has title to through its Monchetundra Flanks license. Reporting on other Kola deposits, including Nyud and Moroshkovoe will be provided when Eurasia holds title to the relevant licenses. Operational highlights include:
· Monchetundra Definitive Feasibility Study being progressed for completion by the end of 2022."
Friday would be a good day to announce the sale without too much notice being taken in Russia, with Putin set to announce the annexation of 15% of Ukraine following the sham referendum, there will be far more pressing matters for the authorities to be dealing with than the sale of EUA assets or the whole company.