Eurasia Mining appoints Russian adviser to assist on strategic sales

MINEX Forum | November 12, 2019 | Views: 66 | Source: Proactive Investors

Eurasia Mining PLC (LON:EUA) has officially appointed metallurgical expert Alexander Vasilievich Sushchev as an adviser to the board as it looks to leverage some of its mining assets.

Sushchev, formerly a manager at palladium colossus Norilsk Nickel, will work with fellow strategic advisor Alexei Churakov and investment banks VTB Capital and CITIC Group.

As chief executive of metals producer SMCM, Sushchev helped sell the company to an affiliate of with Rusal.

Eurasia chairman Christian Schaffalitzky said: “I am delighted to formalise our relationship with Alexander, whom I have known for many years.

“We have been fortunate to have his advice for over 10 years and he has made the tasks of licencing our projects much easier.

“His contacts and experience working at the top level of the PGM and base metals businesses are important in our ongoing discussions, as we explore strategic opportunities for our assets.”

Instead of a fee, Sushchev will receive a 10% share of Deloan Investments, an investment vehicle that holds a 10.42% interest in the company and is 64.5%-controlled by director Dmitry Suschov.

Eurasia shares were up 9% to 3.02p on Monday afternoon.

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