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Updated: Eurasia Mining – Forget the Dividend it is a placing that is coming - Optiva denies

By Tom Winnifrith, The Sheriff of AIM | Wednesday 29 January 2020

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Updated: Eurasia Mining (EUA) boss Christian Schaffalitzky talked about a dividend, PR guru the Sith Lord Zak Mir was told to suggest on a secret chatroom that directors would be buying millions of pounds of shares in the market and the shares zoomed.

But the balance sheet is thinner than an Ethiopian super model and the cash burn continues so, it seems that a placing is far more likely. 

However, earlier we freported that, according to two sources, Optiva, one of Eurasia;s three brokers, was planning to complete a placing by February 20, Project Target.

The company declined to comment but Optiva has now been in touch to say that Project Target is not to do with Eurasia and so i am happy to stand corrected..

Even so the valuation is, at £92 million, just crackers.

On December 17 2019, Eurasia boasted of its “cash cushion”  but all the financials sugest that is miniimal and as such a placing is a matter of when not if

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