E&P Global faces material impact from Russia license appeal

E&P Global Holdings Limited has scheduled an appeal hearing for October 31, 2025, in Moscow regarding the revocation of a mining license. Legal advisors indicate the appeal will focus on procedural irregularities related to pre-trial dispute resolution. The Russian court is not expected to make a substantive decision on the review application during this hearing, and the company will update stakeholders on the outcome.

The company's annual report for the year ended March 31, 2025, revealed that exploration and evaluation assets related to its Russian mining licenses were valued at approximately HK$1,423 million, representing about 96% of its total assets. The potential non-extension or lawful revocation of the license could impact the integrated mining plan for the Lapichevskaya Mine in Russia.

E&P Global plans to rigorously defend its interests, but acknowledges that the outcomes of the appeal and any subsequent judicial challenges may have a material adverse impact on its financial position. Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities.