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Proactiveinvestors United Kingdom Eurasia Mining http://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Eurasia Mining RSS feed en Tue, 22 May 2012 12:50:07 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Eurasia Mining raises £2.885 mln in private placing ]]> http://www.proactiveinvestors.co.uk/companies/news/41170/eurasia-mining-raises-2885-mln-in-private-placing-41170.html Eurasia Mining (LON:EUA) said it has raised £2.885 million in a private placing with Queeld Ventures Ltd, giving the investment group a 29.88 per cent stake in the enlarged capital.

The company issued 288.5 million new shares at 1 penny each.

Queeld Ventures is wholly owned and controlled by Kipford Ventures Ltd, which in turn is owned by L. Ananieva, the company said in a statement.

The placing will help Eurasia to take its West Kytlym platinum project in Russia to production and to develop other company projects.
 
Eurasia is focused on the development of alluvial platinum and gold mining operations in Russia.

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Wed, 04 Apr 2012 15:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/41170/eurasia-mining-raises-2885-mln-in-private-placing-41170.html
<![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/120404eua8451a/ Wed, 04 Apr 2012 15:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/120404eua8451a/ <![CDATA[Broker press ]]> Wed, 22 Feb 2012 00:00:00 +0000 <![CDATA[RNS press release - Share Price Movement ]]> http://www.proactiveinvestors.co.uk/companies/rns/120104eua0080v/ Wed, 04 Jan 2012 16:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/120104eua0080v/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/111130eua8944s/ Wed, 30 Nov 2011 07:00:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111130eua8944s/ <![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/111107eua6417r/ Mon, 07 Nov 2011 16:45:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/111107eua6417r/ <![CDATA[News - Eurasia Mining’s Schaffalitzky upbeat on prospects for platinum project ]]> http://www.proactiveinvestors.co.uk/companies/news/33741/eurasia-minings-schaffalitzky-upbeat-on-prospects-for-platinum-project-33741.html Patient investors kicked in £468,500 via a placing yesterday to fund ongoing exploration in the Urals, where it is planning to establish an alluvial platinum mining operation. We spoke to chief executive Christian Schaffalitzky about the group’s ongoing licence talks with the Russian authorities and its exciting, but somewhat overlooked, potential.

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Thu, 29 Sep 2011 09:47:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/33741/eurasia-minings-schaffalitzky-upbeat-on-prospects-for-platinum-project-33741.html
<![CDATA[News - Eurasia Mining raises £468,500 with share placing ]]> http://www.proactiveinvestors.co.uk/companies/news/33667/eurasia-mining-raises-468500-with-share-placing--33667.html

Eurasia Mining (LON:EUA) today announced that it has raised £468,500 through an equity placing.

The proceeds will help the small cap mine developer continue its exploration activities over the next few months.

Through the placing 46.85 million shares are being issued priced at 1 pence each. Each investor is receiving one warrant for every new share that is subscribed for.

Stockbroking firm WH Ireland is facilitating the placing and the new shares are expected to join the AIM market on October 3. 

Chief executive Christian Schaffalitzky and non executive director Dmitry Suchov both participated in the placing, subscribing for 5 million and 9.5 million respectively.

Schaffalitzky now holds 20.9 million shares in the company, which equates to a 3.1 per cent stake. Meanwhile Suchov, who is already the company’s largest shareholder, now owns 234.5 million shares or 34.75 per cent.

Of the 9.5 million shares Suchov subscribed for 4.5 million were in lieu of salary.

Eurasia is focused on the development of alluvial platinum mining operations in Russia. It is currently awaiting the conclusion of the permitting process so that it can ontain a production licencefor its first project, but in the meantime it is also exploring the surrounding area.

As a result it recently booked Russian classified reserves for two additional areas within its exploration licence and it has subsequently applied to the authorities for a discovery certificate. After that it will have the opportunity to apply for additional production licences for those two areas.

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Wed, 28 Sep 2011 07:31:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/33667/eurasia-mining-raises-468500-with-share-placing--33667.html
<![CDATA[RNS press release - Completion of Placing ]]> http://www.proactiveinvestors.co.uk/companies/rns/110928eua0477p/ Wed, 28 Sep 2011 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110928eua0477p/ <![CDATA[RNS press release - Exploration Update - West Kytlim ]]> http://www.proactiveinvestors.co.uk/companies/rns/110912eua0826o/ Mon, 12 Sep 2011 16:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110912eua0826o/ <![CDATA[RNS press release - Exploration Update: West Kytlim - Replacement ]]> http://www.proactiveinvestors.co.uk/companies/rns/110912eua0572o/ Mon, 12 Sep 2011 12:01:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110912eua0572o/ <![CDATA[News - Eurasia Mining continues evaluating investment opportunities in Russia and FSU ]]> http://www.proactiveinvestors.co.uk/companies/news/32929/eurasia-mining-continues-evaluating-investment-opportunities-in-russia-and-fsu-32929.html In today’s interim report, Eurasia Mining (LON:EUA) highlighted the progress made at its flagship West Kytlim alluvial platinum project in Russia and said it continues looking for more assets in Russia and the former Soviet Union (FSU).

Just yesterday, Eurasia Mining reported that the Russian government had approved two further areas of additional reserves of C2 classification as defined by the Russian Standard within the Tylai-Kosvinsky (TK) Placer at West Kytlim.

This addition increased the approved C2 reserves at West Kytlim by 81 percent.

Eurasia Mining is currently waiting to have its application for a production license approved by Russian authorities. It may be possible to combine the two new areas into one revised application.

Apart from West Kytlim, the company has been working on its Kamushanovskoye uranium project in Kyrgyzstan after agreeing to co-fund a bankable feasibility study for Kamushanovskoye in March this year.

The company has so far invested US$602,000 in the project with further financing planned.

In the meantime, the company said it continues to evaluate other investment opportunities both in Russia and the former Soviet Union.

On the financial side, Eurasia posted pre-tax losses of £0.39 million in the six months to end June compared to £0.18 million for the same period last year and £0.52 million for the full year 2010.

Cash balance stood at £0.32 million at the end of June, compared to £0.94 million at the start of the period.

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Fri, 09 Sep 2011 09:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/32929/eurasia-mining-continues-evaluating-investment-opportunities-in-russia-and-fsu-32929.html
<![CDATA[RNS press release - Half Yearly Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/110909eua9237n/ Fri, 09 Sep 2011 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110909eua9237n/ <![CDATA[News - Eurasia Mining increases Russian-classed reserves at West Kytlim platinum project ]]> http://www.proactiveinvestors.co.uk/companies/news/32889/eurasia-mining-increases-russian-classed-reserves-at-west-kytlim-platinum-project-32889.html Eurasia Mining PLC (LON:EUA) said it has now received confirmation that it can include further prospective areas at the West Kytlim alluvial platinum project in Russia, thereby substantially raising the Russian-classed reserves there.

The company said the Urals Branch of the Federal Agency for Natural Resources has approved two further areas of additional reserves of C2 classification as defined by the Russian Standard within the Tylai-Kosvinsky (TK) Placer at the project.

This addition increases the approved C2 reserves at West Kytlim by 81 percent.

The C2 category of the Russian minerals classification system finds the nearest equivalent in JORC or NI43-101 as either part of the reserves when adjacent to existing or planned mining operations or an indicated resource in exploration areas.

The approval of these new Russian Standard reserve areas is confirmation of the extent of the TK Placer beyond Bolshaya Sosnovka Creek, (TK Placer area 1), Eurasia's existing mining licence application at West Kytlim, the company said.

One new reserve area is adjacent to Bolshaya Sosnovka Creek (TK Placer area 3); the second is located approximately 7 kilometres to the southwest (TK Placer area 9).

The Eurasia resource estimate for TK Placer areas 3 and 9 under C2 reserve totals 612 kilogrammes of contained platinum.

Eurasia said it will shortly update investors on the exploration programme from which this resource estimate is derived.

These new reserves areas are being submitted for registration of discovery certificates, the final step prior to applying for a production licence.

Meanwhile, the company still awaits approval for its first production licence.  It may be possible to combine the two new areas into one revised application.

The company anticipates announcing its interim results for the period ended 30 June 2011 on September 9 2011.

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Thu, 08 Sep 2011 16:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/32889/eurasia-mining-increases-russian-classed-reserves-at-west-kytlim-platinum-project-32889.html
<![CDATA[RNS press release - Exploration Update: West Kytlim ]]> http://www.proactiveinvestors.co.uk/companies/rns/110908eua9059n/ Thu, 08 Sep 2011 14:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110908eua9059n/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/110802eua5835l/ Tue, 02 Aug 2011 12:59:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110802eua5835l/ <![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/110705eua8161j/ Tue, 05 Jul 2011 15:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110705eua8161j/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/110630eua4862j/ Thu, 30 Jun 2011 14:07:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110630eua4862j/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/110630eua3850j/ Thu, 30 Jun 2011 07:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/rns/110630eua3850j/ <![CDATA[News - Eurasia Mining seeks further success in 2011 ]]> http://www.proactiveinvestors.co.uk/companies/news/29017/eurasia-mining-seeks-further-success-in-2011--29017.html Eurasia Mining PLC (LON:EUA) says continuing good news flow must deliver capital growth in the future.

The firm, which released its results for the year to 31 December 2010, said the company was continuing this year to assess opportunities in Russia and that it hoped the gold exploration licences applied for in the far east of the country will become available under reasonable terms during 2011.

2010 had been marked by further success in Eurasia's platinum exploration work and its expansion into uranium in Kyrgyzstan through a joint venture company, it said.

Also, as announced in January this year, the firm signed a MOU to acquire an interest in the Kamushanovsky uranium project in Kyrgyzstan.

This project has been the focus of a five-year exploration programme and is currently estimated to contain at least 1,775 tonnes of uranium oxide.

Financing is now being sought to further establish Energy Resources Asia - a private company managed by Eurasia, to deal with the Kamushanovsky project.

A bankable feasibility study ("BFS") for the project is planned to be completed by the end of the year. Kyrgyzstan was one of the centres of uranium mining before independence from the former Soviet Union.

Although most mines closed in the early 1990s, ore processing is still active. A plant with capacity for processing concentrates lies around 60km from the the Kamushanovsky deposit, said Eurasia.

For the year to 31 December 2010, the firm narrowed its pre-tax loss to £522,555 from £2,256,278 in 2009. Its basic and diluted loss per share was £0.12 compared to a loss per share of £0.92 in 2009.

Cash and cash equivalents at 31 December 2010 stood at £943,636 compared to £137,757 as at the end of December in 2009.

Om 29 March this year, the firm revealed the latest drilling results from its Monchetundra licence area near Monchegorsk on Russia’s Kola Peninsula.

The directors believe that some of the grades were among the highest ever intersected in the Monchetundra area.

The firm revealed a potnetially open pittable zone, called West Nittis, consisting of sulphide mineralization containing base metals with PGM (Platinum Group Metals). It is additional to the mineralized zones already drilled further south in the Monchetundra licence area.

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Mon, 06 Jun 2011 08:54:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/29017/eurasia-mining-seeks-further-success-in-2011--29017.html