Business
Interim Results for the six months ended 30 June
Interim Results for the six months ended 30 June.
About this update from Eurasia Mining Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN REGULATION NO. 596/2014 (AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) AND IS IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 7 OF THAT REGULATION.\n \n19 September 2023\n \nEurasia Mining plc\n \n(\"Eurasia\" or the \"Company\")\n \nInterim Results for the six months ended 30 June 2023\n \nEurasia, the palladium, platinum, rhodium, iridium and gold mining company, today reports its unaudited interim results and operational summary for the six months ended 30 June 2023.\nA copy of this announcement is also available on Eurasia's website at:\nhttps://www.eurasiamining.co.uk/investors/news-announcements\n \nFor further information, please contact:\nEurasia Mining Plc\nChristian Schaffalitzky/ Keith Byrne\n+44 (0)207 932 0418\n \nSP Angel Corporate Finance LLP (Nomad and Broker)\nJeff Keating / David Hignell / Adam Cowl\n+44 (0)20 3470 0470\n \n \n \n \n \n \n \n \n \n \n \n \n \n \nChairman's Statement\nDear Shareholder\nThe first six months of 2023 saw the Company focused principally on our plan to sell our Russian assets.\n \nProposed sale of Russian assets\nWe have concentrated on this effort since 2020 and can report that we continue to make progress. Our focus on BRICS non-sanctioned counterparties continues, with several parties currently at various stages of their due diligence. Although, as stated previously, there is no guarantee of a positive outcome to this activity, the Board remains focused on achieving a successful conclusion.\n \nWest Kytlim\nSite preparation work was completed during the first quarter of 2023, but due to the sale process being Eurasia's main priority, no metal concentrate has been produced at West Kytlim since the end of 2022.\nOur key focus at West Kytlim has been on the sale of 2022 concentrate, which is currently held in inventory, with no restrictions related to its sale as a precious metals bearing high grade concentrate. The Board expects the concentrates to be sold at carrying value and we are currently evaluating offers from three parties who responded to the tender process.\nWe have started to receive value-added tax refunds (VAT) against capital exp...