Eurasia Mining (LON: EUA) has ended its formal sale process and it has a potential acquiror of substantially all its Russian mining assets. How much they might be willing to pay is uncertain.
The announcement was made at 6.08pm. There is no certainty that the deal will go ahead, though.
The formal sale process and strategic review has been going on for more than ten months. In recent weeks, it has focused on potential bidders.
A potential acquiror of the company’s assets (rather than bidder for the company) has come to the fore. That deal will turn the business into a shell if it happens.
The main assets are the Monchetundra project, an open pit palladium deposit, the West Kytlim platinum and gold mine, and the Semenovsky gold and silver tailings project. Eurasia has paid an i...