viewEurasia Mining PLC

Eurasia Mining granted discovery certificate at Monchetundra

With the granting of the discovery certificate Eurasia can now move on to apply for a license to mine

Eurasia is looking to open up new areas to PGM production

Eurasia Mining plc (LON:EUA) has been granted a discovery certificate for the 1.9 mln ounces of palladium equivalent at its Monchetundra project in Russia.

The granting of the certificate follows swiftly on from the application, announced on 15 June 2017.

Eurasia, through its local subsidiary Terskaya Mining Company, has now been officially credited as the discoverer of the Monchetundra reserves and resources and holds an exclusive right to apply for and receive a mining licence for their extraction.

WATCH: Eurasia cracking on with mining application now discovery certificate's in hand

Eurasia now expects to submit an application for a Mining Licence at Monchetundra in the near future.

The company intends to progress the development of Monchetundra using a similar model to that which has proven successful at its West Kytlim mine, where production has commenced.

“The rate of progress at Monchetundra, from submission of our Feasibility Study, through Reserves Approval to issue of a Discovery Certificate, has been impressive by any international standard,” said managing director Christian Schaffalitzky.

“We look forward to progressing our Mining Licence application as we move towards development of this major asset."

Quick facts: Eurasia Mining PLC

Price: 29 GBX

Market: AIM
Market Cap: £800.02 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Eurasia Mining PLC named herein, including the promotion by the Company of Eurasia Mining PLC in any Content on the Site, the Company receives...


Market Report: FTSE falls as dollar weakness strengthens pound

The FTSE 100 starts on the back foot this Tuesday as dollar weakness strengthens sterling. The London bourse is taking its lead from global stocks after the US imposed fresh sanctions on Chinese telecoms group Huawei. Marks & Spencer (LON:MKS) is cutting 7,000 jobs over the next three...

on 18/8/20

2 min read