Eurasia Mining Plc has been on my radar ever since I began trading. Eurasia (EUA) was one of the very first recommendations given to me and despite being told by everyone to buy in, I watched the price rise whilst I did my research, trying to fathom what makes this company so valuable.
I finally bought a volume of shares at £0.16 after the horse had initially bolted, but I had researched enough to understand how and why this could potentially return such an incredible sum.
Eurasia announced that is is launching a Formal Sale Process under the UK Takeover Code following a "number of inbound expressions of interest from multiple parties interested in acquiring all of or a stake in its assets" on 1st July 2020.
10th August 2020, Eurasia was granted the exploration licence for Typil, a 24.5 km2 area of land with a 17km river course. For those who need to know why the river course is important to gold mining: volcanic action forces the rich earth minerals to the surface. This is then eroded by the running waters and carried down stream where it settles into the banks and creek beds. Over time, rivers change course, leaving the mineral rich creek bed dry and ready for miners.
This in itself was major news, but also provided additional content to include in the sale. This in turn boosts the companies value and the potential increase in the sale price, resulting in a respective share price increase for all those invested when the company sells.
The best analogy I heard to describe this was: "When you sell a house, you make sure your garden is neat and tidy to encourage sellers." This made perfect sense to me.
During the release of the Interim Report on the 30th September 2020, Eurasia Mining Plc confirms that they have restructured the board and executive team in order to fully focus on the sale of the company. Additionally, the state that DLA Piper have been appointed to work on the legal proceedings of the sale.
EUA provide a further RNS on 3rd December 2020 suggesting that they believe that the DFS will be ready for the final approval later in December. Shareholders waited patiently for news, however, nothing materialised. As a result, the share price trickled down at a rapid rate. Leaving the £0.40's and settling within the £0.30 and £0.28 range.
Today, at 10:28hrs, Eurasia released the RNS confirming the approval of the West Kytlim Definitive Feasibility Study. It is understood that this long document is the final piece of the puzzle that could conclude the sale of the company.
We have our fingers crossed for an update on the sale process.
Tip: Build a base of reliable research material and suppliers.
People will often give you tips in which stocks to invest in. Eurasia was a stock that I delayed purchasing because I was sourcing information that I could rely on. If I knew where to look for the information I needed, then I could have bought in whilst the price was significantly cheaper.
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