Sticking to FACTS7 Jun 2021 07:50
From the annual report :
Events after the consolidated statement of financial position date There have been no adjusting events after the consolidated statement of financial position date and the following non-adjusting events;•
A Joint Venture was entered into with Rosgeo, a Russian registered and state funded exploration Company, in March 2021. The Joint Venture is outside of and separate to ownership of the Company’s two key assets at Monchetundra and West Kytlim. The Rosgeo JV allows Eurasia to gain a 75% equity stake in each of nine new assets with the remaining 25% equity stakes to be held by Rosgeo.
Eurasia will be the operator of the JV and will develop the additional assets at its discretion. •
The Company established a Representative Office in Tokyo Japan in March 2021 to be overseen by newly appointed Director Tamerlan Abdikeev.•
The Company received an expression of interest regarding a potential substantial asset sale in May 2021.• The Company exited the Code compliant Formal Sale Process on 12 May 2021.•
A fund raising was completed in May 2021, by issuance of 53,306,751 ordinary shares to a single institutional investor at the then market price of 26.5p, raising gross proceeds of £14,126,289.
An associated warrant is included per ordinary share, at the same price and with a 3 year term. It is intended that these funds, and future potential warrant funds, will be chiefly directed to exploration and development of projects within the Rosgeo JV.