Member Info for del929

@chess; I’m sure the CEOs behaviour would have an impact in discussions with potential buyers. Lots of petty issues makes a huge issue in any industry. As for monetising the assets, look at the value we’ve received for the Rosgeo JV & WK. MT has potential but is it possible that all stopped once JN got the DFS approved then immediately departed with zero notice?

@MaB; you’d need to ask PSB lawyers ref that as I believe it's them taking legal action against the company (unconfirmed by the BOD) you’d think they’d have a good idea of good business practices etc in Russia.

@Saint; every year prior to the AGM the argument is it’d be foolish to vote anyone on the BOD out because there’s no one to replace them. Let’s hope we’re not debating it again next year.

@Len; I’ve no issue with differing opinions and we all vote as we see fit.

It’s nice to debate EUA things as opposed to petty name calling.

@Len; they are being advised by legal experts so there shouldn’t be any concern/confusion with what they can or can’t communicate. If they legally sold some of the concentrate in H2 2025, CS shouldn’t be stating to shareholders in Jan 26 we can’t sell any of the 2025 concentrate, that’s not confusion it’s deliberately misleading at a time when shareholders knew cash flow was a concern. Pre war is relevant as it shows how the BOD were performing without any of the current restrictions.

@Beast; I never said replace like for like, I’m saying replaced with someone with mining/EPC knowledge who can assist with progressing MT. Look at the current BODs performance, SP down over 50% in 12 months, AIX listing was a shambles, numerous basic admin errors, abysmal communication, legal issues & poor decision making. Is it any wonder the company isn’t progressing as we all hope. The war is a very convenient reason to cover up the constant issues, I'm not saying they are corrupt, possibly just not up to the task? We’ve yet to establish exactly who the BOD are “keeping their heads down” from.

A new INED can’t just decide to raise funds without CS, BOD & shareholders approval.

The BOD have to adapt to the current geopolitical situation and act accordingly for the benefit of shareholders before it’s too late as was proven with the loss of the Rosgeo JV & now the probable forced sale of WK at a 95% discount due to a claimed threat of nationalisation.

Len; of course I’d like the war to end, as would most people. My gripe is with CS and the BOD for abysmal communications and releasing statements which rarely materialise into reality. You trust them, which is fine by me but I’m not sure what that trust is based on. The historical issues are well documented (well before the war) and even more recently what has CS told us? MT Technical project was imminent, they can’t sell any of the 2025 WK concentrate yet the AR shows they did, do we have any idea what’s the status of the WK sale, are PSB taking legal proceedings against the company, who will oversee the MT DFS/EPC? CS just tells us something then moves onto the next cluster fcuk and hopes we forget the rest. Is it any wonder the company are forever getting taken to court? Christ, even our own lawyers (Gowlings) did! Yes the wars created massive problems but our BOD have created plenty of their own issues.

@Lenbeary, Beast & Carlito; do you know how long salary payments are deferred for, would voting them out stop possible future transactions, do you honestly think we would be negatively impacted without them, don’t you think we need people on the BOD with mining/EPC experience to progress MT. Can you name anything either of them have achieved since they joined the BOD? I’m confident CS or DS will find someone suitable to take their place.

@holmdene; do you mean this audit committee from RNS on 27 June 24? Report eventually released 6 Sept 24, 10 weeks later!

“The auditor has advised the Company that approximately four more weeks will be required to complete the audit. The Directors and the Audit Committee have assessed the matter in detail and have strong confidence that this is a realistic estimate.”

I’ve just had an email from Halifax ref pre registering my vote at the AGM.

With Rosgeo JV is as good as gone, WK is supposedly sold and MT “imminently” moving to EPC. I believe it’s a good time for a clear out of the (M & A) focused members on the BOD so I’ve voted against for these two;

To re-appoint Tamerlan Abdikeev as a Director. Salary of £114,996

To re-appoint Kotaro Kosaka as a Director. Salary of £45,000

I’m positive he’ll know better than anyone else as he’s being talking to Zelensky & Putin direct 🤞

https://news.sky.com/story/ukraine-war-latest-live-putin-kyiv-zelenskyy-12541713?postid=12008274#liveblog-body

@Punter1234; why do you have to come on here and ruin every decent thread. You never comment on anything related to EUA. No one here gives a feck if you & Mr Wolfe are arguing on QHE, replying to him on here is ridiculous.

@Seasick, I thought they'd just send out the AR, did you get that as well or just the AGM voting form, are there any dates for the AGM on the form?

That’s my take on it as well. It seems crazy that the company would keep quiet about our only source of income which would go a long way towards funding our operations in Russia. IMO CS’s response on 14 Jan didn’t give us the full facts ref the concentrate to allow Shareholders to make an informed decision on approving the sale of WK. I honestly thought they couldn’t sell any of it as it was all included in the sale. Why are the comms from CS so poor?

@Broxburn68; thanks, I’m trying to confirm that they sold over £5m worth of concentrate but never told shareholders or the market.

@B_Positive;

“The Sale Agreement provides for a reciprocal break fee of US$5 million, in the event that the Disposal does not proceed as intended, due to the failure of either party to fulfil the conditions due to matters under their control”

Am I correct that the company sold £5,420,759 of PGM concentrate and that we now hold approximately £3,298,541 worth.

For 2025 we mined around 311kg (10Koz of PGM concentrate) our original target was 400kg. Long term target for WK is 68Koz per year.

On 14 Jan 26 Q&A’s CS reply for Q8 ref sale of concentrate was;

“We cannot take the concentrate, as this is legally prohibited. It forms part of the valuation of

approximately US$251 million achieved for West Kytlim for the sale transaction, although the applicable

taxation is high.”

I’d assumed this meant all of 2025’s concentrate was included in the sale of WK. Did I miss an RNS informing shareholders that they’d sold some in H2 2025?

@Punter1234; who did you get a reply from in the company?

@offler; I don’t believe a word CS says. His claim of they were “advised” to keep their head down as an excuse for the silence is laughable. Keep their head down from who exactly? It can’t be the Russian authorities that we took to court over tax, the Russian authorities that we apply to for all our licences etc or maybe it’s the Russian authorities who CS told us are close to nationalising WK hence why we need to sell it asap with prior Russian agreement on value, then sign off & 95% taxes applied. Yeah Russia probably have no idea EUA exists! CS just hides behind YJ n so he doesn’t have to answer any difficult questions!

@Offler; The BOD haven’t even advised the market & shareholders that PSB is taking legal action against the sale of WK which imo is a massive material change that we should be made fully aware of considering the possible implications! It’s typical of the BOD to not update us and leave us guessing & worrying about our investments. If, and I think it’s a big if, we get the AR next week maybe it’ll shed some light on everything but more realistically the auditors won’t agree to sign off on it and we’ll be left guessing for a while yet while we are suspended once again. It’ll all be very convenient for CS who will not be able to tell us what’s happening for a few more weeks/months. Imo it’s the price we pay for stupidly re-electing CS and his shambolic management skills.

@Offler; I know he’d said something previously ref his salary but to be honest I couldn’t be bothered looking into it as you can guarantee he’ll get it paid one way or another so it’s irrelevant. This is what I was told in an email;

“ Christian remains fully committed to supporting the Company through this challenging period and working towards the best achievable outcome for all shareholders, which includes himself. To demonstrate his commitment to and support of cash preservation, he has not received remuneration since May 2025”

CS told us the below on 14 Jan 2026, however this assumed we’d get the proceeds from a sale of WK. I doubt the BOD accounted for the cost of storing the concentrate for this long either! I believe we also have to mine 187kg per year to maintain WK licence which is going to cost us and that concentrate will probably belong to the “buyer”. It’s looking like another complete shambles from our BOD. On the plus side I was told by YJ that CS has not taken a salary since May 2025! It’ll be accrued somewhere though I’d think.

“What is the current financial situation of the company, how long is cash coverage at EUA level, how will costs be covered until Arctic cash flow starts, what role does the WK sale play, what is the company's contribution to activate the Sinosteel contract, and what steps have been taken to reduce burn rate?

Response:

Based on current forecasts, the Company estimates cash coverage at the Eurasia Mining plc level of approximately two years. The proposed sale of West Kytlim is expected to provide cost coverage until projected cash flows commence from the Arctic (Kola) projects. The EPCF arrangement with Sinosteel is intended to cover the principal development expenditure. Corporate expenditure has been reduced to a minimum, and both the Company’s NOMAD and auditor were changed following competitive tender processes.”

Agreed; I think this was the last comment from CS on the Rosgeo JV on 14 Jan 2026. I don’t think we ever got the details on the NYUD JORC, all we got told was the BOD had received it and were reviewing it.

What is the status of the Nyud/Rosgeo JV, are there plans to reinstate it, and what is required for

progress?

Response: Progress remains subject to the international sanctions regime applicable to Rosgeo. Any future

reinstatement would depend on potential sanctions changes following any future peace agreement

EIEI0; thanks mate and yes fully aware of the 8 Feb 2022 Reserves & Resources. However like just about everything with this company my understanding is those included the Rosgeo JV projects as stated in the RNS.

What’s your thoughts on it?

Reserves and Resources Update

“Eurasia Mining Plc ("Eurasia" or the "Company"), the palladium, platinum, rhodium, iridium and gold producing company is pleased to announce the reserves and resources breakdown by metals for the Monchetundra Project (Loipishnune and West Nittis deposits), the NKT area, and the projects included in the agreement with Rosgeo (as announced via RNS on 26 March 2021)”