Eurasia Mining PLC Board Changes (3726Z)
September 18 2020 - 1:00AM
UK Regulatory
TIDMEUA
RNS Number : 3726Z
Eurasia Mining PLC
18 September 2020
EURASIA MINING PLC
("Eurasia" or "the Company")
Appointments of Chief Executive Officer, Chief M&A Officer
and Board Changes
Eurasia Mining plc, the palladium, platinum, rhodium, iridium
and gold producing company, operating the established West Kytlim
Mine in the Urals, and also the operator of the Monchetundra
Project comprising two predominantly palladium open pit deposits
near base metal and PGM processing facilities close to the town of
Monchegorsk on the Kola Peninsula, is pleased to announce the
appointment of James Nieuwenhuys, formerly a Non-Executive
Director, as Chief Executive Officer and Executive Director of the
Company with immediate effect. Christian Schaffalitzky remains as
Executive Chairman. The Directors have agreed to release Dmitry
Suschov from the Board in order to allow him to focus as the
Company's Chief M&A Officer on the M&A work streams with
Eurasia's professional advisers.
Mr Nieuwenhuys has held senior positions including Chief
Executive Officer at South African Lesego Platinum Mining Limited,
Chief Operating Officer at Polyus Gold, Russian largest gold
producer. James also held senior positions at a number of EPC
organisations. The Directors believe that the experience of James
and his relationships especially among PGM producers in Russia,
China and South Africa, are beneficial for the Company in its
ongoing work streams.
Mr Suschov has a successful track record of leading the
strategic sales of companies in the natural resource sector
including the sale of a silica sand mine and the second largest
global carborundum production company to Indian Murugappa Group,
the sale of a natural resource company to Danish natural resource
fund, the sale of a gas company to a major Russian investment group
and other deals.
Comments
Christian Schaffalitzky, Eurasia's Executive Chairman commented:
"This reorganization is designed to optimise our execution team. We
are delighted that James has agreed to take on the CEO role.
James's focus will be to work with our advisers on the sale
process. Since joining Eurasia in November 2019 after completing
due diligence on behalf of a potential buyer, James has got
detailed knowledge of Eurasia's assets and he is of immense help
both in terms of the sale process and in terms of demonstrating to
the interested parties the strength of our own management team and
its capacity to execute. Dmitry changes his routine Board roles for
the role of Chief M&A Officer and together with James will
strengthen the management team involved in the work streams with
several interested parties. We are grateful to Dmitry for his
long-term hard work on the Board level over 10 years and the
Directors look forward to working with him in his new
capacity".
James Nieuwenhuys, Eurasia's CEO and Executive Director: "In my
new capacity as CEO and Executive Director I will continue to work
with our advisers on the sale process of the Company and its world
class assets, Monchetundra and West Kytlim, leveraging my
relationships made over more than 40 years in the mining industry
and securing a deal beneficial to our shareholders".
Dmitry Suschov, Eurasia's Chief M&A Officer commented: "I am
grateful to my fellow Directors for their support in taking over my
functions on the Board, so that I could focus on the work with our
professional advisers. I am delighted that James has decided to
assume the CEO position. I am thankful to the Board and to James
for offering me the Chief M&A Officer position, as I am already
working with our advisers on M&A".
Further details:
James Nieuwenhuys has a mining engineering background and has
held senior positions at Lesego Platinum, Polyus Gold in Russia,
Polyus Gold in China, SNC-Lavalin EPC, Bateman EPC and XCEL
Engineering and Management EPC. James has Mechanical Engineering
Degree from the University of Cape Town.
Dmitry Suschov has investment, finance and M&A background
with a successful strategic sales track record. Dmitry has Diploma
with honours in finance from Finance University under the
Government of Russia and Advanced Diploma in management accounting
from CIMA/UK.
A new company presentation has now been uploaded to the
presentations section of our website and may be reached by the
following link:
https://www.eurasiamining.co.uk/investors/presentations
ENQUIRIES:
Eurasia Mining Plc
Christian Schaffalitzky/ Keith Byrne
+44 (0)207 932 0418
SP Angel Corporate Finance LLP (Nomad and Joint Broker)
Ewan Leggat / David Hignell / Soltan Tagiev
+44 (0)20 3470 0470
Optiva Securities (Joint Broker)
Christian Dennis
Tel: +44 (0) 20 3137 1902
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
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END
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