Eurasia Mining targets liquidity boost with AIX dual listing, £3.15m fundraise and Russian asset exit

Why is Eurasia Mining pursuing a dual listing in Kazakhstan?

Eurasia Mining PLC is moving forward with a strategic dual listing on the Astana International Exchange (AIX) in Kazakhstan, a move aimed at expanding the liquidity and international marketability of its shares. This initiative marks a new chapter for the London-listed palladium, platinum, rhodium, iridium, and gold exploration and development company as it seeks to diversify its shareholder base and access capital pools beyond the UK.

The company has entered into a pre-listing agreement with AIX, having fulfilled all compliance requirements for admission. Eurasia has confirmed that the exchange has completed its review of the necessary documentation, with no further conditions outstanding. Trading on AIX is expected to begin during the second quarter of 2025.

To ensure a smooth dual listing, Eurasia is in the process of appointing market makers on AIX. These market participants will leverage CREST, the UK’s settlement and clearing infrastructure, to manage liquidity between AIX and London’s AIM market. The mechanism allows for shares to be purchased in London and made tradable on AIX, helping to maintain balanced liquidity across both platforms.

This move is consistent with a broader trend among mining companies seeking to strengthen cross-border investor engagement, especially in resource-focused exchanges such as AIX, which has attracted increasing interest from Central Asian institutional investors. The dual listing is expected to help Eurasia Mining increase its visibility and potentially improve trading volumes, especially among emerging market investors with a commodity-focused outlook.

What is the latest update on Eurasia Mining’s Russian asset divestment?

In parallel with the Kazakhstan listing strategy, Eurasia Mining is continuing its long-standing effort to divest its Russian assets. The portfolio includes the producing West Kytlim mine, the fully permitted Monchetundra mining license, and brownfield interests in the NKT and Nyud projects.

Although no binding agreement has been signed to date, the Board reiterated that asset monetisation remains a core focus. Limited site activity continues to ensure operational and legal readiness for future transactions. According to the company, all projects are being maintained in a compliant and sale-ready state.

The decision to remain operationally engaged at a minimal level is strategic, allowing Eurasia to retain the value of its assets while avoiding overexposure to volatile operational or geopolitical risks. The asset sale effort aligns with a shift in corporate focus away from Russia and toward shareholder value realisation through strategic exits, though the market environment for resource asset sales in Russia remains uncertain.

How does the £3.15 million fundraise affect Eurasia’s financial position?

Eurasia successfully completed an equity fundraise in March 2025, securing £3.15 million in gross proceeds from a mix of UK and US institutional investors. The funding has been used to strengthen the company’s working capital position and reduce reliance on debt financing. Following this capital injection, Eurasia has ceased using its trade finance facility with Sanderson Capital Partners Limited and expects to repay Sanderson in full shortly.

The strengthened balance sheet gives the company sufficient liquidity to meet operational and corporate obligations until at least the second half of 2026. This extended runway supports Eurasia’s dual listing plans, legal compliance costs, and preparations for a potential asset sale.

Securing institutional backing in a challenging fundraising environment demonstrates continued investor confidence in Eurasia’s longer-term strategic objectives. The capital raise also reflects a growing alignment between the company’s financial strategy and its operational transition, especially as it reduces exposure to high-cost financing.

What is the significance of the Queeld Ventures and Mispare Limited litigation?

A share ownership dispute involving Queeld Ventures Limited and Mispare Limited (Q&M) is currently under review by the UK High Court. Q&M claim ownership of certain shares in Eurasia Mining, though the volume and specifics of the stake in question have not been publicly disclosed.

Eurasia has taken a neutral position in the case and has stated that it will comply with any orders issued by the court. While the dispute does not directly impact daily operations, it could influence the company’s share register structure and shareholder governance, especially as Eurasia pursues a more global investor base through the AIX listing.

The resolution of the Q&M case is being closely monitored by investors, particularly those concerned about corporate governance transparency and legal clarity within the capital structure. Further updates are expected in due course, depending on the High Court’s schedule and findings.

How is Eurasia ensuring compliance with global sanctions regimes?

Given its historical and ongoing exposure to Russian operations, Eurasia Mining has emphasised continued compliance with international sanctions regulations. The company reported that it is actively monitoring guidance from regulatory bodies in the United States, United Kingdom, and European Union and continues to take legal advice on sanctions-related matters.

Eurasia stated that it does not and has not engaged with any sanctioned persons, entities, or agencies. The company believes that its current business activities are not in breach of sanctions rules, and it remains confident that its operational posture is fully compliant with applicable laws.

This emphasis on sanctions compliance is a necessary measure as Eurasia prepares to broaden its market exposure through a dual listing and potentially attract more scrutiny from international investors. Ensuring alignment with legal and ethical standards also plays a role in maintaining investor confidence, particularly among ESG-conscious institutional funds.

How is Eurasia Mining PLC stock performing, and what are the sentiment signals?

As of mid-April 2025, Eurasia Mining PLC (LON:EUA) is trading at approximately 4.33p, down from a recent 52-week high of 7.75p. This decline has taken the stock below its 50-day moving average of 5.25p, which may indicate a short-term bearish trend.

Despite the retracement, the stock remains up by roughly 188% year-over-year, underscoring strong long-term performance. This volatility suggests mixed investor sentiment, with some taking profits while others await new catalysts such as the AIX listing or asset sale progress.

Institutional interest remains minimal. According to publicly available filings, only one institutional investor holds a position in the stock. There is also no significant activity reported from foreign institutional investors (FIIs) or domestic institutional investors (DIIs), suggesting that the stock is still largely retail-driven.

Investors with a high-risk appetite may consider the current price an attractive entry point, especially ahead of the AIX listing and potential asset monetisation. Long-term shareholders may opt to maintain their positions, awaiting developments on the legal front and capital markets strategy. Meanwhile, risk-averse investors or those concerned about geopolitical exposure, low institutional activity, and legal disputes may choose to reduce exposure. Technical indicators and sentiment analysis suggest a cautiously optimistic outlook, but execution risk remains a key consideration for potential investors.

What does Eurasia’s evolving strategy indicate about its future direction?

Eurasia Mining PLC is executing a multi-faceted strategy designed to increase shareholder value through greater market access, a leaner financial structure, and long-term asset realignment. The AIX dual listing is a major step toward regional investor engagement and enhanced liquidity, while the Russian asset divestiture effort signals a pivot toward reduced geopolitical risk and potential capital reallocation.

With a solid cash position following the March 2025 raise, Eurasia is better positioned to meet operational obligations and strategic investments without over-reliance on debt. Meanwhile, the company’s neutral legal posture and adherence to sanctions compliance help safeguard its international standing.

The months ahead will be pivotal. The dual listing’s success, progress on asset sales, and resolution of legal disputes will determine how effectively Eurasia can reposition itself in the mining sector. For investors, this period represents a transitional phase with significant upside potential—if executed correctly.