Eurasia Mining plc
("Eurasia" or the "Company")
Result of AGM and AGM Statement
The Company confirms that at today's Annual General Meeting, all resolutions were duly approved.
AGM Statement
Speaking at the AGM, Chairman Dr. Michael Martineau said:
"We believe Eurasia Mining is in a strong position from a strategic, operational and financial perspective.
On a strategic level, Eurasia now has significant majority ownership of the West Kytlim and Monchetundra projects which we believe places the Company in a highly advantageous position on the cusp of considerable value generation and value crystallization. With West Kytlim, the Company has a near term platinum production asset, able to generate considerable financial returns reflecting the level of financial and operational commitment the Company has invested over many years. In itself the move into platinum production is Company transformational and we look forward to final Mining Licence approvals in this regard. At Monchetundra the Company has, what we believe, is a highly valuable strategic asset, which is generating significant interest from third parties. Our principal strategic aim is to maximise the return for shareholders from this interest, something the management team are working hard to achieve at the earliest opportunity.
At an operational level the Company has a team in Russia that is working diligently to prepare for platinum production operations at West Kytlim. Recognising the recent efficient support of our Mining Licence application from the authorities we are in turn ensuring the Company has planned thoroughly so we are ready to launch operations when we receive the final approvals to proceed. The team is also actively engaged on the assessment of new opportunities, and we are engaging with our collaborative partners at Metal Tiger plc in this regard.
Financially the Company has benefited from the support of Metal Tiger with an injection of working capital and through funds raised directly from the market by way of secondary placings. Directors have also committed further by converting outstanding loans and salaries into Company equity. The financing undertaken has enabled the Company to make considerable progress and we are well positioned going forward.
We believe Eurasia is now well positioned generally and we are working exceptionally hard on a number of levels to generate value for shareholders. In this regard we are grateful for continuing shareholder support and look forward to the remainder of 2015 with confidence and excitement for the future."
For more information please contact:
Eurasia Mining Plc
Christian Schaffalitzky/Michael de Villiers
+44 (0)207 932 0418
WH Ireland Limited
Katy Mitchell/Liam Gribben
+44 (0)161 832 2174
Beaufort Securities
Elliot Hance
+44 (0)207 382 8300
Loeb Aron
John Beresford-Peirse
+44 (0)207 628 1128
