Politics

Eurasia Mining soars as it returns to AIM following clarification of relationship with CITIC

Eurasia Mining PLC (LON:EUA) shares soared on Thursday as the Russia-focused miner returned to AIM following the clarification of its relationship with Chinese group CITIC Merchant Co Limited.

The company confirmed that it has entered a success fee based engagement letter with CITIC to explore possible strategic options for its mining assets.

READ: Eurasia Mining appoints new Nomad and NED, updates on suspension

Eurasia also reiterated its announcement from July 1 that it has appointed UBS as its leading adviser to assist in a review of its strategic options including asset sales or a sale of the company.

"The board remains focused on maximising shareholder value, and, after receiving approaches from multiple parties interested in acquiring the company's assets, has decided that launching a formalRead More – Source