Eurasia Mining shares rally after receiving offer for some assets

© Reuters.

By Samuel Indyk – Shares in AIM-listed Eurasia Mining jumped over 11% on Thursday morning after the company announced late on Wednesday it had received a proposal to acquire certain assets, concluding the strategic review and formal sale process.

Back in January, the company said it had engaged with a wide range of parties interested in acquiring the assets and/or the company.

After concluding its joint venture with Russia’s Rosgeo, Eurasia said the company has now received several proposals, including one from a ‘credible’ party for the potential acquisition of substantially all of the company’s assets. The board has decided to focus on this potential asset sale.

“The Directors are committed to maximising the value for all the shareholders, and we are delighted to have received a proposal from a credible party that could allow us to pay a significant dividend to all shareholders,” said Eurasia Mining Executive Chairman Christian Schaffalitzky.

“The Board has a strong confidence in our opportunity to create a globally significant PGM and battery metals producer that can be achieved through our Rosgeo JV.”

Eurasia Mining was quick to stress that until a transaction is finally concluded, there can be no certainty that a transaction will occur or on what terms.

At 09:01BST, shares in Eurasia Mining (LON:) were trading higher by 11.5% at 27.87 pence per share.

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