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EPIC: EUA
Market: AIM
52-week High/Low: 1.30p / 0.43p
Sector: General Mining - Platinum Group Metals
Market Cap: 7.27M
Phone: +44 (0)20 7932 0418
Address: 2nd Floor, 85-87 Borough High Street, London SE1 1NH.
Website: www.eurasiamining.co.uk
Eurasia Mining plc

Eurasia Mining plc

Eurasia Mining PLC is an international mineral exploration company, listed on the Alternative Investment Market (AIM), currently operating in Russia.

Eurasia's stated objective is to explore for platinum group metals (PGMs) and gold through self-funded own exploration targets and joint venture partnerships with strategic operators and local partners. Operations are funded from the company's own equity funds and funded joint venture agreements. Projects are subject to an initial evaluation for viability and once this is established further exploration work is carried out to feasibility study level. It is then the company's intention to either proceed to develop the project to production or partner the project with a suitable operator.

The company maintains an office in London and two offices in Russia where field campaigns are planned and executed.

Eurasia is currently evaluating several gold targets in Eastern Russia and is focused on the following ongoing advanced exploration projects:

Urals Alluvial project — West Kytlim licence

Kola Peninsula — Monchetundra licence

Bashkiria Tailings Project — Semenovsky licence

Eurasia Mining plc

www.eurasiamining.co.uk

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Big picture - Why invest in Eurasia Mining plc


Eurasia Mining plc Snapshot

Eurasia’s established focus is exploration and development of platinum palladium and gold projects in Russia. Its aim is to deliver value to its shareholders by leveraging the significant experience of its directors and management team to advance our licences and to acquire new projects.

The company continues to advance its two key exploration licences at West Kytlim in the Central Urals and Monchetundra on the Kola Peninsula. At West Kytlim,we await permitting for an enlarged production licence area- meanwhile, ongoing drilling continues to expand and upgrade the resource base.

Eurasia continues to access quality gold projects in Russia and the FSU and maintains an active interest in several non-core, innovative mining solutions including the Kamushanovsky Uranium Project in Kyrgyzstan.

 

URALS ALLUVIAL PLATINUM : WEST KYTLIM
 

Project Highlights:

Seasonal alluvial Platinum mine under development, work commenced Q3 2016

Mining work contracted to SKRS on the basis of a 70:30 split of gross revenue

C2 State approved Reserves total 2,283 kg raw platinum

Further Resources on the licence to be proven during mining

Urals Geology

The Urals ultramafic rocks (peridotite, pyroxenite and dunite), were formed in an ancient rift zone and later upthrust into the Urals as part of the mountain building collision between the Siberian and European Cratons during the Hercynian Orogeny. Tectonic activity in the Urals extended over a very long geological time frame and included six phases of post-Triassic uplift. Previous mapping of the distribution of high energy sediment accumulations which were formed in association with intense erosion during these uplift phases, indicate the potential for elevated concentrations of platinum within these sediments.

It was the potential for these sequential erosion phases to form separate layers of platinum buried beneath much younger placers that ignited Eurasia’s interest in conducting Urals Platinum Exploration.

For more information, please click here

 

SEMENOVSKY TAILINGS PROJECT - REPUBLIC OF BASHKIRIA, RUSSIA

Project at a glance:

Recovering gold and silver from 2.9m tonnes of surficial mine waste grading circa 1.2g/t gold  

Preferred processing route is a straightforward column leach without pre-treatment of ore

Building of plant may commence in mid 2018

Project Summary

'Mine Tailing's' or simply 'Tails' refers to the waste generated by beneficiating ores through a processing plant. Material is typically dispensed as a slurry of water, fine grained sand and silt, and unrecovered valuable metals, in this case gold and silver. A number of factors contribute to encouraging economics of reprocessing these deposits:

Vastly reduced mining costs as the material is on surface, free digging, requires limited transport and has already been ground and homogenised

No increase in mine footprint makes permitting process more straightforward

Application of modern metallurgy and re-processing technologies recovers more metal

Less geological risk associated with the resource as grade and volumes are already well established

Fore more information, please click here

MONCHETUNDRA LICENCE KOLA PENINSULA

Project at a glance

Reserves Report and  Mine Feasability Study filed in December 2016

Positive assessment by Ministry of Mines opens the path to Discovery Certificate and Mining License application

EPC contract signed with Sino Steel corporation for a 130,000oz (pt eq) per annum facility

For more information, please click here

Christian Schaffalitzky - Managing Director & CEO

Christian Schaffalitzky (58), EurGeol, FIMMM, PGeo, CEng. With over 35 years experience in minerals exploration working for companies and also as founder and principal of the geological consultancy CSA, Christian Schaffalitzky co-established Ivernia West PLC, where he led the exploration, discovery and development of the Lisheen zinc deposit in Ireland. Currently he is active in precious and base metals minerals exploration and development in Russia and the former Soviet Union. He is chairman of Kibo Mining plc and an independent director on the boards of several other mineral companies, including Raspadskaya Coal Company, the second largest coking coal producer in Russia.

 

Gary FitzGerald - Non-executive Director

Gary FitzGerald is a Non-executive Director. He was previously a Director of Framlington Investment Management Limited and has over 30 years experience in investment management. He has diverse experience of emerging markets including the launch of the first fund for investing in Russia in the early 1990’s.

 

Michael Martineau - Non-executive Chairman

Michael Martineau, MA, D.Phil, FIMMM, is Non-Executive Chairman. Following a First Class Honours degree and a Doctorate in Geology from Oxford University, he has had 40 years experience in the mining and minerals industry. He was in charge of global exploration for BP Minerals International later becoming Exploration Director of its Australian listed subsidiary, Seltrust. In 1987, he joined Cluff Resources PLC, as Director Minerals and Managing Director of Cluff Mineral Exploration Limited. In 1989 he co-founded Samax Resources, which listed on the Toronto Stock Exchange in 1996 and which was acquired by Ashanti Goldfields in 1998. He has been an independent director of several public companies including Ashanti Goldfields and Golden Star Resources and is currently an independent director of First Quantum Mining.

 

Dmitry Suschov- Non-executive Director

Dmitry Suschov is a Non-executive Director. He is currently a director of Deloan Investments Limited and the following Russian and Ukrainian companies: Daltekhgas (Open Joint Stock Company), Kiev Oxygen Works (Closed Joint Stock Company), and Pivdentekhgas (Open Joint Stock Company). He has also been a director of NH Capital Limited, Dutch Noble House Limited and Noble House Kazakhstan Limited. He is an Investment Banker with extensive experience in the Russian resources industry and has previously worked with IG Capital (former Lukoil- Reserve-Invest), MDM Bank, PricewaterhouseCoopers and Ernst & Young as mining & metals leader in corporate finance for Russia and CIS.

 

Michael de Villiers - Chief Financial Officer

Michael de Villiers, B Comm., PA (SA) is the Chief Financial Officer. Mr de Villiers qualified as a professional accountant with Ernst & Young in Cape Town and gained some fourteen years experience as financial manager at various mining and chemical operation in Namibia, Botswana, South Africa, Ghana and Bulgaria before moving to London in 1999 to become the finance director of Navan Mining Plc and then Oxus Mining Plc.

 

William Anderson - Exploration and Operations Manager

William Anderson, M Sc, B Sc, FAus IMM is Exploration Manager. During over 20 years with WMC Resources, he rose from chief geologist at Hill 50 Gold Mines and the Emperor Gold Mines in Fiji to occupy the post of general manager at Emperor and subsequently general manager at Kalgoorlie Gold Operations and Kambalda Nickel Mines, in Western Australia and finally chief executive-Brazil. He joined the company in 1997, and has since had responsibility for the development of its platinum group metals projects in Russia.

Shareholders holding 3% or more of ordinary shares as at 03 Mar 2017

 

Directors 356,946,674 23.36%
Queeld Ventures Limited 284,877,066 18.64%
Hargreaves Landsdown (nominees) ltd 92,002,213 6.02%
TD Direct investing (Nominees) limited 93,558,359 6.12%
Barclayshare (Nominees) Limited  87,395,116 5.72%
Beaufort (Nominees) Limited 99,962,864 6.54%
HSDL (nominees) limited 72,269,259 4.73%
INVESTOR (nominees) limited 73,701,536 4.82%

 

Eurasia Mining PLC

Head Office and Registered Office (Company Number 3010091)

2nd Floor, 

85-87 Borough High Street

London SE1 1NH

Telephone: +44 (0)20 7932 0418

Facsimile: +44 (0)20 7976 6283

E-mail: [email protected]

Auditors

Grant Thornton UK LLP, 

Grant Thornton House, 

Melton Street, 

Euston Square, 

London NW1 2EP

www.grant-thornton.co.uk

 

Nominated advisor

W H Ireland Limited, 

24 Martin Lane, 

London, EC4R 0DR 

and 

11 St. James's Square, 

Manchester M2 6WH.

www.wh-ireland.co.uk

 

Registrars

Capita IRG PLC, 

The Registry, 

34 Beckenham Road, 

Beckenham, 

Kent BR3 4TU.

www.capitaregistrars.com

 

Solicitors

Gowlings (UK) LLP, 

15th Floor, 125 Old Broad st, 

London, 

England EC2N 1AR

www.gowlings.com

 

Brokers

Loeb Aron & Co, 

62-63 Cheapside, 

London, EC2V 6AX.

www.loebaron.co.uk

 

W H Ireland, 

24 Martin Lane, 

London, EC4R 0DR 

and 

11 St. James's Square, 

Manchester M2 6WH.

www.wh-ireland.co.uk

 

Beaufort Securities LTD

131 Finsbury Pavement

London

EC2A 1NT

www.beaufortsecurities.com

Eurasia Mining plc Timeline

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