AGM 2020 Shareholders Questions and Answers



Dear shareholders, we are grateful for your questions submitted in advance of our AGM. We present the below questions and answers as a general summary of what it is possible for us to answer at this time.

1. West Kytlim Progress

As announced, our 4 PGM and gold mine at West Kytlim has been running well without contractors and without any Covid cases. The machinery used was new and from well-regarded OEMs. Production is ongoing and we continue to make shipments of concentrate containing platinum, palladium, iridium, rhodium and gold to the refinery.

A more complete update as well as an outline of capacity increases will follow via RNSs.

Upgrade of resources to mineable status is being progressed through Definitive Feasibility Study commissioned to GIP (see RNS 18 August 2020). This combined with the award of the 24.5km2 Tipil license adjacent the mine ensures a sustainable long-term low cost PGM resource for the future.

2. Formal Sale Process Progress

With regard to the Formal Sale Process and the Offer Period announced on 01 July 2020 – the Company, working with its advisors led by UBS, is committed to maintaining full compliance with UK Takeover Panel rules and it is therefore not possible for the Company to update at this stage. We would encourage our shareholders to familiarise themselves with the Takeover Code General principles and rules (https://www.thetakeoverpanel.org.uk/the-code/download-code) to understand their rights as shareholders throughout the Formal Sale Process.

3. Monchetundra Flanks

The Company was finally awarded the license surrounding the Monchetundra Project mining permit, referred to as the Flanks License. The Flanks License and the immediate vicinity of the project is known to contain examples of the majority of the layered intrusion- and contact-hosted PGM deposit types recognised globally. Extensive drilling programmes and exploration campaigns by private companies and state funded organisations have created a valuable catalogue of drilling data now available to the Company, some of which have resulted in feasibility studies lodged with the State Cadastre of Mines in Russia. They form the basis for the resource figures previously referenced by the Company in various RNS (for example 4 December 2019 and 1 July 2020) and the Company’s annual report.
The award of the Flanks License adds significant value. Eurasia has established a first mover advantage on Kola PGM.

Finally, a new presentation has now been uploaded to the presentations section of our website and may be reached by the following link:

https://www.eurasiamining.co.uk/investors/presentations

Search