Last checked at 2 Sep 2014 14:34
Eurasia Mining plc
("Eurasia" or the "Company")
Completion of Acquisition of 50% of Urals Alluvial Platinum Limited
Eurasia Mining plc, the platinum group metals and gold exploration and development company, is pleased to confirm that further to the announcement of 20 June 2014, the final condition in the agreement pursuant to which Eurasia's wholly owned subsidiary Eurasia Investments Limited ("EIL") agreed to acquire, from Rustenburg Platinum Mines (Cyprus) Limited ("RPM Cyprus") the remaining 50 percent of Urals Alluvial Platinum Limited ("UAP") which it does not already own, has been satisfied.
The agreement had been conditional on RPM Cyprus and members of the Anglo American Platinum group obtaining South African exchange control approval. This approval has now been obtained.
As a consequence, EIL now holds a 100 percent interest in UAP which holds its PGM projects in Russia, including the 171 square kilometre license area at West Kytlim which contains near to production-ready State approved platinum reserves with significant additional resources.
Sole Responsibility
No regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Eurasia is solely and entirely responsible for the contents of this news release. No other parties, including any parties that have an interest in UAP, are in any way responsible for the contents hereof.
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Contacts:
For more information please contact:
Eurasia Mining:
Christian Schaffalitzky / Michael de Villiers
Tel: +44 (0) 207 932 0418
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174