Shareholder Questions and Answers - 2021 AGM

 

Q1: Why is the company seeking further authority, given a large fundraising has just been undertaken?

It would be quite unusual to not seek authority and these resolutions are put to shareholders at every AGM. The Board considers the Company very well-funded and does not currently have specific intentions for a further fundraising, however, the Board asks that its members make that option available, for example, in case the Rosgeo Joint Venture development this year results in proving a resource higher than already released (104.6Moz Pt eq) and only if further funding will add value to Eurasia taking into account the implications of shareholder dilution, which the Board and management prefer to limit, being collectively the largest shareholders in Eurasia Mining.

 

Q2: Have the board used the circa £14m from the recent placing?

No. As announced on 4 June 2021 the cash balance of Eurasia is c.$23m. The work programme is being developed in relation to the Rosgeo Joint Venture.

 

Q3: Can the board release a comprehensive update regarding the potential asset sale?

Our RNS of 12 May 2021 stated the Company had received a proposal for the potential acquisition of substantially all of the Company's assets, and that the transaction would make the Company subject to AIM rule 15 (any disposal which exceeds 75% in any of the class tests is deemed to be a disposal resulting in a "fundamental change of business"). The Company has provided as much detail as permitted by the AIM Rules regarding this proposal and looks forward to providing more detail when appropriate and permitted by the AIM Rules. Proceeding under the remit of AIM Rule 15 would require a shareholder circular to be published and a general meeting of shareholders held to approve any transaction.

 

Q4: If commenced, how long will it take for the Monchetundra Project preparatory works assigned to TGK?

The engineering, procurement and construction (“EPC”) contract allows for an 18-months to 2-year construction phase to commence in line with pit preparation works, undertaken by Eurasia subsidiary TGK, in a sub-contract costed within the EPC. These preparatory works include stripping at West Nittis and Loipishnune, transportation and compacting and dumping, slope grading, compacting of run of mine pad.

 

Q5: If a dividend is paid, following a sale of assets, what would be the dividend date?

The Directors and management (being the largest shareholders in Eurasia) intend to proceed with a dividend payment as soon as practicable following a sale. The date from which a shareholder qualifies for a dividend will be determined when the terms for a sale are agreed.

 

Note regarding voting and proxy instructions for General and Annual General Meetings. 

Shareholders that hold their shares via a nominee, broker or custody account, will not receive the Notice of Meeting directly. Instead, shareholders who hold through a Nominee should receive a notification or alert from their agent or broker, with instructions on how the vote may be processed. Eurasia Mining PLC is committed to encourage as much shareholder engagement as possible and would therefore urge all beneficial owners of Eurasia Mining PLC shares to participate.
 

If you have not been notified of this event by your agent please contact them directly as your vote is important. Some key contact details are shown below:

Agent Webpage Telephone   Email/Online Form
         
Hargreaves Lansdown https://www.hl.co.uk/contact-us     Online Form
Interactive Investor Services https://www.ii.co.uk/contact-us 0345 607 6001   Online Form
Jarvis Investment Management https://www.sharedealactive.co.uk/contact-us.html 01892 700800   invest@jarvisim.co.uk
Halifax Share Dealing Limited https://www.halifax.co.uk/investing/help-and-guidance/contact-us/ 0345 722 5525   Online Form
Lawshare - AJ Bell Youinvest https://www.youinvest.co.uk/can-we-help 0345 37 33 479   dealingservices@youinvest.co.uk
HSBC Client Holdings Nominee (UK)   0207 00 58663   caproxyvotingifs@hsbc.com
State street Nominees Limited       statestreetproxyops@statestreet.com

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