Eurasia Mining (EUA) shares were suspended months ago because it was unable to clarify speculation that Chinese Bank CITIC was engaged to try to sell its assets, something it first suggested was happening about nine months ago. Today it clarified, the shares were unsuspended and have rocketed. Its ouzo time for the Bulletin Board morons today but for how long?
I have noted many times before that SP Angel is so utterly desperate for clients to fund the coke and hookers bills that it will act for any corporate even a brazen fraud like MySquar (MYSQ). It is morally bankrupt and, without doubt, London's worst Nomad. As such with WH Ireland having quit as Nomad to Eurasia Mining (EUA) over the lying and other matters there was only one Nomad to go to, only one that would act for a company like this.
Just before the long Easter weekend, Eurasia Mining (EUA), shares in which have now been suspended for more than two months, issued a partial ‘fess up. As I flagged up almost two months ago, Nomad WH Ireland has indeed resigned but why?
Nine days ago shares in Eurasia Mining (EUA), having rocketed to 7.3p were suspended following “social media” comments which we revealed to be a suggestion that after months of promising to sign an engagement letter with Chinese bank CITIC, that it had signed and was well on the way to making massive disposals. Since then amid a lack of news there has been nothing and he rumour mill is in overdrive. A statement on some of the rumours is needed now as some investors fear they may lose everything while others consider how many Porsches they will be buyng. So what are the rumours?
Since Tuesday morning shares in Eurasia Mining (EUA) , a darling of the bulletin boards and the star performer on the AIM Casino so far this year, have been suspended. The longer the suspension lasts the more extreme conspiracy theories, both bull and bear, do the rounds. The company made one brief statement on Tuesday afternoon:
Often pump and dumps only last a matter of a few days or even hours, but occasionally when it is more than just small private investors involved they can go on for a long period of time, and that certainly appears to have been the case with Eurasia Mining (EUA)...
Eurasia Mining (EUA) is a company that I’ve been following for the past five years or so, but during that time, other than the occasional spike, the share price has done very little, and up until a few days ago you could have bought for around the same price as when I first covered it. The share price has more than tripled in the last few days though, to a current level of around 1.9p, following news that the company has engaged two large banks to help it assess the possibility of selling its assets and basically becoming a cash shell under AIM Rule 15...