Eurasia Mining - best performer in AIM

LONDON (Alliance News) - Eurasia Mining PLC on Wednesday said it has now been granted a mining licence for the West Kytlim project in Russia, in a statement released after its shares were suspended following a sharp rise in early trade.

Eurasia Mining shares were suspended mid-morning after rising 46% to 1.8299 pence, the best performer in the AIM All-Share.

The company confirmed it has been awarded the West Kytlim mining licence by Russia's Ministry of Natural Resources and said further details of the licence will follow soon, at which time the suspension on its shares will be lifted.


http://www.lse.co.uk/AllNews.asp?code=7h3c9j74  

The Board of Eurasia, the Russia focused PGM exploration and development company, notes the recent rise in the Company's share price. The Company is pleased to announce that the Ministry of Natural Resources ("MNR") has granted Eurasia a Mining Licence at West Kytlim.

Further details of the licence will follow shortly and the suspension of the shares will be lifted at that time.


http://otp.investis.com/clients/uk/eurasia-mining/...mp;newsid=538989  

Eurasia Mining plc, the Russia focused PGM exploration and development company, is delighted to announce that, further to the announcement made earlier today, Prime Minister Dmitry Medvedev has approved the Company's application for a Mining Licence of 21.5 square kilometres at West Kytlim in the Urals.  The announcement appeared on the Russian government's website this morning, prior to the Company having been informed.

The licence is granted to Eurasia's subsidiary, ZAO Kosvinsky Kamen, on the basis of first discovery and includes the rights for extraction of platinum and gold.

RosNedra, the licencing agency, has informed the Company that the formal licence will now be registered in late August or early September.  The one-off lump-sum payment due to the government, to be paid within 30 days of registration of the licence, is 2,126,000 roubles or approximately £24,000. RosNedra has informed the company that the figure of 21,260,000 roubles quoted earlier on the government website is a misprint.

Christian Schaffalitzky Managing Director of Eurasia said: "Today is a great day for Eurasia and our shareholders. We have worked long and hard to achieve this result and we are grateful to the Russian government for efficiently processing the licence application."

"This approval and receipt of the licence will enable Eurasia to shift from exploration into development and platinum production.   That platinum production will generate the revenues and margin that will allow the Company to move toward self-financing status and deliver the value we have been promising for some time to shareholders."



"The next stage is to complete our detailed development plan for West Kytlim, a summary of which is to be submitted to the government once the formal licence documentation is issued.  In this regard, work is well advanced on this plan and we look forward to updating shareholders with progress in the near term."

"Of course we must not lose sight of our other project at Monchetundra where we continue to make progress with our objectives. We expect to be able to update shareholders on Monchetundra progress in the coming weeks."

Restoration of Trading

Following the release of this announcement, the Company confirms that it has requested that the temporary suspension in the Company's ordinary shares be lifted and accordingly trading in the Company's shares will recommence with immediate effect.




http://otp.investis.com/clients/uk/eurasia-mining/...mp;newsid=539093  

http://www.stockmarketwire.com/article/5073378/...ining-warrants.html

Metal Tiger has exercised all its warrants in Eurasia Mining. Metal Tiger has acquired 30 million new ordinary shares in Eurasia at 1p per share at a total exercise cost of £300,000.

Metal Tiger announced the acquisition of 30 million new ordinary shares in Eurasia at a price of 0.5p per new ordinary share on 29 December. In addition Metal Tiger was awarded with 30 million warrants to subscribe for a further 30m new ordinary shares at an exercise price of 1p per share with a 3 year exercise period.

The warrants were subject to an escalator clause whereby should Eurasia Mining announce receipt of the West Kytlim Mining Licence by regulatory announcement, the exercise price of any unexercised warrants would increase to 1.5p.

Since the original acquisition of Eurasia shares on 29 December, Metal Tiger has disposed of its entire holding for more than double its original invested amount generating a profit of over £180,000 on the investment cost of £150,000 - a return of 120%. Metal Tiger has chosen to largely reinvest the proceeds by converting its entire 30m warrants in Eurasia and lock in the 1p warrant price, prior to receipt of the Mining Licence by Eurasia. In the Final Results for the year ended 31.12.14 Eurasia Mining reported a loss for the year of £502,500 and net assets of £4,087,708. Following admission of the new ordinary shares Metal Tiger will own 30 million shares in Eurasia Mining. Chief executive Cameron Parry said: "Metal Tiger is delighted to note the Prime Ministerial approval Eurasia announced yesterday for its West Kytlim Mining Licence application. And having made a significant return over 6 months on the original investment, Metal Tiger is pleased to lock in the warrant price of 1p per share enabling it to invest a further £300,000 in Eurasia Mining at this key point in the Company's development.

"The additional funds will enable Eurasia to move at pace with continuing preparations for platinum mining and we are delighted to support Eurasia's work with this additional investment which will be funded from existing cash resources.

"After the success of Metal Tiger's strategic investment in Kibo Mining Plc, it is particularly pleasing to see success in the Eurasia Mining investment. Metal Tiger is also looking forward to the continuing progress at Ariana Resources Plc, notably after Ariana received their forestry permits, enabling the commencement of construction of their Kiziltepe gold production plant in Turkey.

"With the investment in Eurasia Mining announced today, Metal Tiger has now undertaken strategic investments in Kibo, Eurasia and Ariana totalling £1,150,000 in funding through highly significant value generative milestones for each company. We will continue to invest strategically with this in mind, alongside the smaller sized investments made through our on-market portfolio where we see opportunities to acquire stakes in listed resource companies with substantial upside potential." - See more at: http://www.stockmarketwire.com/article/5073378/...thash.f90wMlNC.dpuf  

http://www.finanznachrichten.de/...euh-wiederaufnahme-restart-029.htm

DIE FOLGENDE AKTIE WIRD MIT SOFORTIGER WIRKUNG WIEDER IN DEN HANDEL AUFGENOMMEN:
THE FOLLOWING SHARE IS RESUMED TRADING WITH IMMEDIATE EFFECT:

INSTRUMENT NAME KUERZEL/SHORTCODE ISIN

EURASIA MINING PLC EUH GB0003230421